Blackbaud Inc. Q4 2024 Earnings Conference Call: Key Insights
On February 18, 2025, Blackbaud Inc. (BLKB) held its fourth quarter and fiscal year 2024 earnings conference call. The call was led by Mike Gianoni, President and CEO, Tony Boor, Chief Financial Officer, and Tom Barth, Head of Investor Relations. The following are the major highlights from the call:
Financial Performance
Blackbaud reported revenue of $625 million for the fourth quarter, representing a 12% year-over-year growth. The company’s net income came in at $118.5 million, up from $97.2 million in the same period last year. The earnings per share were $1.15, beating analysts’ estimates of $1.08 per share.
Business Segments
The company’s cloud solutions segment, which accounts for the majority of its revenue, grew by 15% year-over-year. The company’s net new ARR (Annual Recurring Revenue) in the cloud solutions segment was up 16% year-over-year. The company’s K-12 education segment also saw strong growth, with revenue up 15% year-over-year.
Operational Metrics
Blackbaud’s cash flow from operations was $128.5 million for the year, up from $103.8 million in the previous year. The company’s free cash flow was $112.5 million, up from $88.4 million in the previous year. The company ended the year with $472.4 million in cash and cash equivalents.
Strategic Initiatives
Blackbaud announced that it has entered into a definitive agreement to acquire GivingGrid, a leading provider of peer-to-peer fundraising solutions. The acquisition is expected to close in the first quarter of 2025. The company also announced that it has launched a new product, Blackbaud Raiser’s Edge NXT for K-12, which is a cloud-based fundraising and relationship management solution for schools.
Impact on Individual Investors
The strong financial performance and strategic initiatives announced by Blackbaud during the earnings call are likely to be positive for individual investors. The company’s revenue and earnings growth, combined with its cash flow and free cash flow growth, demonstrate the company’s financial strength. The acquisition of GivingGrid and the launch of a new product for K-12 schools are likely to drive additional revenue growth in the future.
Impact on the World
The strong financial performance of Blackbaud, a leading provider of software and services for the social good community, is a positive sign for the nonprofit sector. The company’s cloud solutions and peer-to-peer fundraising solutions help nonprofits raise funds and manage their operations more efficiently. The acquisition of GivingGrid is likely to further enhance Blackbaud’s offerings and help more nonprofits leverage technology to grow their impact.
In conclusion, Blackbaud’s fourth quarter and fiscal year 2024 earnings call provided investors with a positive outlook for the company’s future growth. The company’s strong financial performance, strategic initiatives, and focus on the social good community are likely to benefit individual investors and the nonprofit sector as a whole.
- Blackbaud reported strong financial performance in Q4 2024, with revenue up 12% year-over-year and earnings per share of $1.15.
- The cloud solutions segment, which accounts for the majority of the company’s revenue, grew by 15% year-over-year.
- Blackbaud announced the acquisition of GivingGrid, a leading provider of peer-to-peer fundraising solutions.
- The company also launched a new product, Blackbaud Raiser’s Edge NXT for K-12, a cloud-based fundraising and relationship management solution for schools.
- The strong financial performance and strategic initiatives are likely to benefit individual investors and the nonprofit sector as a whole.
