Blackbaud Q2 revenue $271M (+2.3%); non-GAAP diluted EPS $0.98; guidance raised

BLACKBAUD INC

2023-Q2 EPS reported -$0.24 revenue$532,795,000

GAAP revenue $271.0M (+2.3% YoY), recurring revenue $262.4M (+3.9%); non-GAAP organic recurring +4.4%.
GAAP operating income $0.3M (margin 0.1%) includes $26.8M security incident costs; non-GAAP operating margin 27.4% (+680bps).
Non-GAAP adjusted EBITDA $88.8M (+$18.2M), margin 32.8% (+620bps); GAAP diluted EPS $0.04.
Management expects high-single-digit organic revenue growth by Q4 and Rule of 40 well ahead of prior 2025 target.
Reiterated increased 2023 financial guidance; highlighted progress on five-point operating plan and AI platform.

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 the quarter ended June 30, 2023 results: revenue $271.0 million, net income $2.1 million, EPS $0.04. Guidance reaffirmed.

Period: the quarter ended June 30, 2023
Revenue: $271.0 million
Net income: $2.1 million
EPS: $0.04
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Second Quarter 2023 Results Compared to Second Quarter 2022 Results: • GAAP total revenue was $271.0 million, up 2.3%, with $262.4 million in GAAP recurring revenue, up 3.9%. • Non-GAAP organic recurring revenue increased 4.4%. • GAAP income from operations was $0.3 million, inclusive of security incident-related costs of $26.8 million, with GAAP operating margin of 0.1%, an increase of 10 basis points. • Non-GAAP income from operations was $74.1 million, with non-GAAP operating margin of 27.4%, an increase of 680 basis points. • GAAP net income was $2.1 million, with GAAP diluted earnings per share of $0.04, up $0.11 per share.

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Source: SEC EDGAR

accession 0001280058-23-000034

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