BLACKBAUD INC
For the period ended Mar 31, 2025. Filed Apr 30, 2025.
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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.
Mar 31, 2025 · Filed Apr 30, 2025
BLKB$54.92+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets (Unaudited)
| Blackbaud, Inc.Condensed Consolidated Balance Sheets(Unaudited) | ||
|---|---|---|
| (dollars in thousands, except per share amounts) | March 31,2025 | December 31,2024 |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $37,243 | $67,628 |
| Restricted cash | 419,400 | 741,884 |
| Accounts receivable, net of allowance of $5,660 and $5,228 at March 31, 2025 and December 31, 2024, respectively | 78,105 | 83,539 |
| Customer funds receivable | 4,522 | 1,970 |
| Prepaid expenses and other current assets | 88,182 | 81,287 |
| Total current assets | 627,452 | 976,308 |
| Property and equipment, net | 85,031 | 91,926 |
| Operating lease right-of-use assets | 1,725 | 26,554 |
| Software development costs, net | 150,113 | 148,319 |
| Goodwill | 1,054,290 | 1,052,506 |
| Intangible assets, net | 126,338 | 132,881 |
| Other assets | 57,270 | 67,221 |
| Total assets | $2,102,219 | $2,495,715 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Trade accounts payable | $46,435 | $50,810 |
| Accrued expenses and other current liabilities | 45,124 | 75,543 |
| Due to customers | 422,780 | 742,340 |
| Debt, current portion | 23,350 | 23,875 |
| Deferred revenue, current portion | 326,209 | 359,529 |
| Total current liabilities | 863,898 | 1,252,097 |
| Debt, net of current portion | 1,182,343 | 1,051,110 |
| Deferred tax liability | 9,604 | 9,518 |
| Deferred revenue, net of current portion | 6,033 | 2,015 |
| Operating lease liabilities, net of current portion | 2,395 | 34,186 |
| Other liabilities | 4,771 | 4,796 |
| Total liabilities | 2,069,044 | 2,353,722 |
| Commitments and contingencies (see Note 8) | ||
| Stockholders’ equity: | ||
| Preferred stock; 20,000,000 shares authorized, none outstanding | — | — |
| Common stock, $0.001 par value; 180,000,000 shares authorized, 72,258,301 and 70,943,373 shares issued at March 31, 2025 and December 31, 2024, respectively; 48,515,315 and 49,245,588 shares outstanding at March 31, 2025 and December 31, 2024, respectively | 72 | 71 |
| Additional paid-in capital | 1,319,562 | 1,291,442 |
| Treasury stock, at cost; 23,742,986 and 21,697,785 shares at March 31, 2025 and December 31, 2024, respectively | (1,198,721) | (1,060,348) |
| Accumulated other comprehensive loss | (8,302) | (4,869) |
| Accumulated deficit | (79,436) | (84,303) |
| Total stockholders’ equity | 33,175 | 141,993 |
| Total liabilities and stockholders’ equity | $2,102,219 | $2,495,715 |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | ||
| First Quarter 2025 Form 10-Q | 3 |
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