secwatch.observer — SEC 8-K summary
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Issuer:     BLACKBAUD INC (BLKB)
CIK:        0001280058
Form:       8-K
Filed at:   2024-10-30T23:59:59+00:00
Accession:  0001280058-24-000062
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blackbaud Q3 revenue $286.7M (+3.3%); EVERFI woes prompt FY24 guide revision; ~8% of stock repurchased
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- GAAP revenue $286.7M (+3.3% YoY); GAAP diluted EPS $0.40 vs $0.17; non-GAAP EPS $0.99 vs $1.12.
- Non-GAAP organic revenue +4.3%; Social Sector (89% of revenue) grew 6.6%; EVERFI weakness drives FY24 guidance cut.
- Hired strategic advisor to evaluate EVERFI options; rightsized business to align costs with revenues.
- Repurchased ~8% of shares outstanding since year-end 2023; committed to buyback and product innovation.
- Non-GAAP adjusted EBITDA margin 33.2% (down 180bps); adjusted free cash flow $97.6M (down $20.3M).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1280058/000128005824000062/0001280058-24-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1280058/000128005824000062/blkb-20241030.htm
  HTML page:      https://secwatch.observer/filing/0001280058-24-000062

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