Blackbaud Q1: GAAP rev $261.8M, adj EPS $0.72; raises FY guidance, Rule of 40 accelerated

BLACKBAUD INC

2023-Q1 EPS reported -$0.28 revenue$261,753,000

GAAP revenue $261.8M, up 1.8% YoY; recurring revenue $252.7M, up 3.3%.
Non-GAAP adjusted EBITDA $71.3M (+$14.1M), margin 27.2% (+500 bps).
GAAP net loss $14.7M ($0.28 diluted loss); non-GAAP diluted EPS $0.72 (+$0.15).
Raised FY2023 guidance: organic rev growth ~5.5% (cc), adj EBITDA margin ~31%, Rule of 40 ~36.5%.
Accelerates Rule of 40 to cross 40% in Q4 2023 (prior target 2025); expects sustained Rule of 40 in 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BLACKBAUD INC reported first quarter ended March 31, 2023 results: revenue $261.8 million, net income GAAP net loss was $14.7 million, with GAAP diluted loss per share of $0.28, EPS GAAP diluted loss per share of $0.28. Guidance raised.

Period: first quarter ended March 31, 2023
Revenue: $261.8 million
Net income: GAAP net loss was $14.7 million, with GAAP diluted loss per share of $0.28
EPS: GAAP diluted loss per share of $0.28
Guidance: raised
Result: reported results

Exact text from the filing

growth and margin expansion that supports a sustained Rule of 40 for the full year." First Quarter 2023 Results Compared to First Quarter 2022 Results: • GAAP total revenue was $261.8 million, up 1.8%, with $252.7 million in GAAP recurring revenue, up 3.3%. • Non-GAAP organic recurring revenue increased 3.8%. • GAAP loss from operations was $9.9 million, inclusive of

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Source: SEC EDGAR

accession 0001280058-23-000020

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