Blackbaud
Runs fundraising, finance, education, grantmaking, corporate-impact, payments, and analytics workflows for social-impact organizations.
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Profile
Sells cloud software and related services for nonprofits, schools, foundations, companies with social-responsibility programs, and individual change makers. Revenue is mostly recurring through subscriptions, transaction-based giving and tuition workflows, payments, and services, all reported in a single operating segment.
Serves social-impact organizations with cloud software for fundraising and CRM, nonprofit finance, grant and award management, education management, ticketing, corporate impact, payment services, analytics, and professional services.
Core product lines include Raiser's Edge NXT, Financial Edge NXT, JustGiving, Grantmaking, and YourCause products. The business operates from Charleston with employees worldwide and serves customers beyond the United States.
Recurring contracts and transaction-based workflows drive most revenue, with donation processing, consumer giving, and tuition management adding usage-linked volume. The model depends on trusted handling of constituent, student, donor, volunteer, and payment data after past security and data-retention settlements, and the company reports a single operating segment.
Company facts
Categories
Key statistics
Year to date −18.4% · Average volume (30d) 616.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 30, 2026 | Robert W. Baird | Target | $50 | $54 | ||
| Jul 29, 2026 | Raymond James | Reiterate | Outperform | $60 | $55 | |
| Jul 10, 2026 | Stifel Nicolaus | Target | $45 | $30 | ||
| Apr 30, 2026 | Robert W. Baird | Target | $60 | $50 | ||
| Apr 30, 2026 | Baird | Upgrade | Neutral | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $1.23 | $1.33 | +8.1% | $292.2M | $290.6M | −0.6% | +17.39% |
| Apr 29, 2026Q1 FY26 | $1.08 | $1.14 | +5.6% | $279.8M | $281.1M | +0.5% | −4.79% |
| Feb 10, 2026Q4 FY25 | $1.15 | $1.19 | +3.5% | $292.2M | $295.3M | +1.1% | +5.64% |
| Oct 29, 2025Q3 FY25 | $1.07 | $1.10 | +2.8% | $292.7M | $281.1M | −4.0% | −2.99% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $269.9M | $282.0M | $281.1M | $295.3M | $281.1M | $290.6M | |
| Gross profit | $155.1M | $168.4M | $167.5M | $172.3M | $166.6M | $178.2M | |
| Operating income | $19.7M | $57.3M | $54.6M | $59.1M | $51.4M | $62.0M | |
| Net income | $4.3M | $26.5M | $47.5M | $36.7M | $31.1M | $35.4M | |
| Diluted EPS | $0.10 | $0.54 | $0.98 | $0.76 | $0.67 | $0.79 | |
| Gross margin | 57.5% | 59.7% | 59.6% | 58.4% | 59.2% | 61.3% | |
| Operating margin | 7.3% | 20.3% | 19.4% | 20.0% | 18.3% | 21.3% |
Fiscal years (4-quarter sums)FY21 $927.7M · FY22 $1.06B · FY23 $1.11B · FY24 $1.16B · FY25 $1.13B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $34.4M · Total debt $1.15B · Total assets $2.59B · Shareholders' equity $67.0M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 45.39M · Float 33.84M · 74.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Clearlake Capital Group, L.P. | 9.75M | 21.48% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 5.98M | 13.18% | 13F | Aug 7, 2026 |
| Morgan Stanley | 4.90M | 10.80% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 3.15M | 6.93% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 1.94M | 4.27% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Michael P. Gianoni | director, officer: President and CEO | −17,000 | $47.35 |
| Aug 6, 2026 | Kevin P. Gregoire | officer: EVP, Chief Operating Officer | −22,000 | $45.50 |
| Mar 4, 2026 | Kevin P. Gregoire | officer: EVP, Chief Operating Officer | −2,000 | $50.02 |
| Mar 3, 2026 | Jon W. Olson | officer: SVP and General Counsel | −5,000 | $49.10 |
| Feb 27, 2026 | Jon W. Olson | officer: SVP and General Counsel | −10,000 | $48.23 |
Peers
- Salesforce
Large nonprofit CRM, fundraising, and grantmaking platform
- Microsoft
Dynamics and Power Platform for nonprofit operations and fundraising
- Oracle
NetSuite nonprofit ERP, fund accounting, CRM, and grant management
- Workday
Enterprise nonprofit finance, HR, payroll, and grant management
- PayPal
Donation processing, digital wallets, and PayPal Giving Fund
- Nelnet
FACTS K-12 tuition, SIS, financial aid, and school management
- Flywire
Education payment and tuition-management software
- Intuit
QuickBooks nonprofit accounting and Mailchimp marketing tools
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Blackbaud | $48.62 | +0.12% | $2.21B | 15.2 | 8.6 | 1.9 | +3.3% |
| Salesforce | $256.48 | +0.16% | $209.66B | 23.4 | 17.6 | 4.8 | +10.8% |
| Microsoft | $513.06 | −0.06% | $3.81T | 28.6 | 26.2 | 11.5 | +17.8% |
| Oracle | $150.95 | +0.17% | $434.14B | 25.9 | 18.7 | 6.4 | +20.6% |
| Workday | $204.25 | −0.23% | $53.62B | 41.8 | 17.7 | 5.3 | +13.2% |
| PayPal | $53.74 | +0.15% | $45.90B | 10.1 | 9.7 | 1.3 | +4.8% |
| Nelnet | $127.37 | +0.08% | $4.58B | 15.3 | 15.3 | 2.5 | −33.6% |
| Flywire | $18.80 | +0.16% | $2.28B | 72.8 | 25.5 | 3.2 | +24.2% |
| Intuit | $358.02 | +0.02% | $97.94B | 21.7 | 13.4 | 4.6 | +13.7% |
| Median | 24.6 | 17.6 | 4.7 | +13.4% |