secwatch.observer — SEC 8-K summary
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Issuer:     BLACKBAUD INC (BLKB)
CIK:        0001280058
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001280058-23-000020
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1280058/000128005823000020/0001280058-23-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1280058/000128005823000020/blkb-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001280058-23-000020

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer