secwatch.observer — SEC 8-K summary
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Issuer:     BLACKBAUD INC (BLKB)
CIK:        0001280058
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001280058-23-000034
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1280058/000128005823000034/0001280058-23-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1280058/000128005823000034/blkb-20230801.htm
  HTML page:      https://secwatch.observer/filing/0001280058-23-000034

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