BLACKBAUD INC
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
BLKB$54.92+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Comprehensive (Unaudited)
| Blackbaud, Inc.Condensed Consolidated Statements of Comprehensive Income (Loss)(Unaudited) | ||||
|---|---|---|---|---|
| Three months endedSeptember 30, | Nine months endedSeptember 30, | |||
| (dollars in thousands, except per share amounts) | 2024 | 2023 | 2024 | 2023 |
| Revenue | ||||
| Recurring | $280,018 | $269,001 | $832,912 | $784,139 |
| One-time services and other | 6,709 | 8,625 | 20,351 | 26,282 |
| Total revenue | 286,727 | 277,626 | 853,263 | 810,421 |
| Cost of revenue | ||||
| Cost of recurring | 122,646 | 114,132 | 361,644 | 342,558 |
| Cost of one-time services and other | 4,871 | 7,634 | 16,779 | 23,795 |
| Total cost of revenue | 127,517 | 121,766 | 378,423 | 366,353 |
| Gross profit | 159,210 | 155,860 | 474,840 | 444,068 |
| Operating expenses | ||||
| Sales, marketing and customer success | 49,454 | 52,462 | 147,400 | 160,038 |
| Research and development | 39,368 | 37,965 | 121,238 | 114,702 |
| General and administrative | 25,645 | 42,596 | 106,842 | 154,582 |
| Amortization | 918 | 793 | 2,724 | 2,355 |
| Total operating expenses | 115,385 | 133,816 | 378,204 | 431,677 |
| Income from operations | 43,825 | 22,044 | 96,636 | 12,391 |
| Interest expense | (14,140) | (9,620) | (40,131) | (31,449) |
| Other income, net | 2,997 | 5,662 | 9,654 | 10,447 |
| Income (loss) before provision (benefit) for income taxes | 32,682 | 18,086 | 66,159 | (8,611) |
| Income tax provision (benefit) | 12,140 | 9,069 | 18,567 | (5,032) |
| Net income (loss) | $20,542 | $9,017 | $47,592 | $(3,579) |
| Earnings (loss) per share | ||||
| Basic | $0.41 | $0.17 | $0.93 | $(0.07) |
| Diluted | $0.40 | $0.17 | $0.91 | $(0.07) |
| Common shares and equivalents outstanding | ||||
| Basic weighted average shares | 50,409,292 | 52,704,974 | 51,067,255 | 52,495,556 |
| Diluted weighted average shares | 51,632,569 | 54,089,897 | 52,107,147 | 52,495,556 |
| Other comprehensive loss | ||||
| Foreign currency translation adjustment | $6,463 | $(4,794) | $5,617 | $419 |
| Unrealized (loss) gain on derivative instruments, net of tax | (13,525) | 4,093 | (10,816) | (1,216) |
| Total other comprehensive loss | (7,062) | (701) | (5,199) | (797) |
| Comprehensive income (loss) | $13,480 | $8,316 | $42,393 | $(4,376) |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | ||||
| 4 | Third Quarter 2024 Form 10-Q |
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