---
schema_version: "secwatch.filing_event.v1"
accession: "0001280058-24-000035"
form_type: "8-K"
ticker: "BLKB"
cik: "0001280058"
company_name: "BLACKBAUD INC"
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T04:09:00.523743+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Blackbaud Q1 revenue up 6.7% to $279.3M; non-GAAP EPS $0.93 up from $0.72

## Summary
- GAAP revenue $279.3M (+6.7% YoY); recurring revenue $271.5M (97% of total, +7.4%).
- Non-GAAP diluted EPS $0.93 vs $0.72 YoY; GAAP EPS $0.10 vs ($0.28) loss YoY.
- Non-GAAP operating margin 25.9% (+430 bps); adjusted EBITDA $88.9M (+25% YoY).
- Repurchased ~3M shares (~5.5% of outstanding) in Q1; full-year target 7-10%.
- Security incident-related costs $10.3M in Q1; non-GAAP free cash flow $51.3M (+$44.8M YoY).

## SEC filing metadata
- accession: 0001280058-24-000035
- form_type: 8-K
- ticker: BLKB
- cik: 0001280058
- company_name: BLACKBAUD INC
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1280058/000128005824000035/0001280058-24-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1280058/000128005824000035/blkb-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001280058-24-000035
- JSON: https://secwatch.observer/filing/0001280058-24-000035.json
- Plain text: https://secwatch.observer/filing/0001280058-24-000035.txt

## Key facts
- Earnings Releases
  BLACKBAUD INC reported the first quarter ended March 31, 2024 results: revenue $279.3 million, net income $5.2 million, EPS $0.10.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $279.3 million
  - Net income: $5.2 million
  - EPS: $0.10
  - Result: reported results
  source text: future and are confident in our ability to achieve the Rule of 40 for the full year." First Quarter 2024 Results Compared to First Quarter 2023 Results: • GAAP total revenue was $279.3 million, up 6.7%, with $271.5 million in GAAP recurring revenue, up 7.4%. GAAP recurring revenue was 97% of total revenue. • Non-GAAP organic recurring revenue increased 7.4%. • GAAP
  evidence_url: https://www.sec.gov/Archives/edgar/data/1280058/000128005824000035/0001280058-24-000035-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.