---
schema_version: "secwatch.filing_event.v1"
accession: "0001280058-25-000048"
form_type: "8-K"
ticker: "BLKB"
cik: "0001280058"
company_name: "BLACKBAUD INC"
filed_at: "2025-10-29T23:59:59+00:00"
generated_at: "2026-05-17T01:35:37.520658+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Blackbaud Q3 GAAP revenue $281.1M (-1.9%); non-GAAP organic rev +5.2%; EPS $0.98

## Summary
- GAAP total revenue $281.1M (-1.9% YoY, driven by EVERFI divestiture); non-GAAP organic revenue +5.2%; recurring revenue 98.1% of total.
- GAAP diluted EPS $0.98 (up $0.63 YoY); non-GAAP diluted EPS $1.10 (up $0.11).
- Non-GAAP adjusted EBITDA $99.7M, margin 35.4% (+220 bps); Rule of 40 score 40.6%.
- GAAP operating cash flow $139.2M (margin 49.5%, +1,320 bps); non-GAAP adjusted FCF $125.1M (margin 44.5%, +1,040 bps).
- YTD repurchased >5% of common stock; leverage ratio reduced from 2.9x (Q1) to 2.4x (Q3).

## SEC filing metadata
- accession: 0001280058-25-000048
- form_type: 8-K
- ticker: BLKB
- cik: 0001280058
- company_name: BLACKBAUD INC
- filed_at: 2025-10-29T23:59:59+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/1280058/000128005825000048/0001280058-25-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1280058/000128005825000048/blkb-20251029.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001280058-25-000048
- JSON: https://secwatch.observer/filing/0001280058-25-000048.json
- Plain text: https://secwatch.observer/filing/0001280058-25-000048.txt

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