Blackbaud Reports Q1 Revenue of $281.1M, Beating Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2026
0mins
Should l Buy BLKB?
Reports Q1 revenue $281.1M, consensus $280.12M. "We began 2026 with disciplined execution against our operating plan, while continuing to invest in innovation to support both performance today and the opportunities ahead," said Chad Anderson, executive vice president and CFO, Blackbaud. "The quarter reflects the strength of our financial model-driving growth, expanding margins, improving EPS, and generating strong free cash flow. We continued our purposeful capital allocation strategy, repurchasing approximately 4.5% of our shares outstanding at the end of 2025 inclusive of net share settlement of employee stock compensation, while maintaining financial flexibility. This combination of execution, reinvestment, and disciplined capital deployment underpins our ability to deliver long-term value."
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Analyst Views on BLKB
Wall Street analysts forecast BLKB stock price to rise
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 35.320
Low
70.00
Averages
70.00
High
70.00
Current: 35.320
Low
70.00
Averages
70.00
High
70.00
About BLKB
Blackbaud, Inc. provides software for powering social impact. It enhances its software with a range of payment processing, analytic and business intelligence services, consulting, training and professional services, and maintenance and technical support. Its specific solutions and services include fundraising and engagement, financial management, grant and award management, education solutions, social responsibility, employee giving and volunteering, payment services, data intelligence, customer success, customer support, professional and managed services and training. Its fundraising and engagement include Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving from Blackbaud, Blackbaud Fundraiser Performance Management, Blackbaud Altru, and Blackbaud Guided Fundraising and Blackbaud Volunteer Network Fundraising. Its grant and award management solutions include Blackbaud Grantmaking and Blackbaud Award Management.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Blackbaud Partners with Student First to Enhance Higher Education Solutions
- Strategic Investment: Blackbaud announces a strategic investment in Student First, aiming to integrate its modern student information system with leading financial management and fundraising solutions, thereby simplifying administrative workflows and enhancing the student experience for higher education institutions.
- Unified Campus Experience: By integrating enrollment, financial aid, scholarships, and financial management, the partnership will create a best-in-class connected campus experience, enabling institutions to operate smarter and enhance visibility in resource allocation to drive student success.
- Collaborative Product Direction: The two companies will collaborate on product direction and go-to-market strategies to expand and enhance their services to higher education institutions, replicating Blackbaud's success with its Total School Solution approach for independent K-12 schools, offering a complete suite of integrated products tailored to educational needs.
- Cloud-Native Platform Advantage: The cloud-native student information system provided by Student First will seamlessly integrate with Blackbaud's industry-leading solutions, helping educational institutions achieve compliance and long-term sustainability in a challenging financial environment while enhancing the overall student experience.
See More
Wall Street's Latest Rating Upgrades Summary
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Blackbaud Reports Mixed Q1 Results Amid AI Insights
- Revenue Beat: Blackbaud's Q1 revenue reached $281.1 million, surpassing the consensus estimate of $279.33 million and reflecting a 4.2% year-over-year growth, which bolsters investor confidence in the company's performance in the social impact sector.
- Earnings Miss: The adjusted EPS of $1.14 fell short of the $1.18 analyst estimate, although the non-GAAP adjusted EBITDA rose to $98.7 million with margins expanding by 100 basis points to 35.1%, indicating effective cost management.
- AI Strategic Advantage: CEO Mike Gianoni emphasized in an interview that Blackbaud's AI technology is a tailwind rather than a threat, with the company's proprietary data ecosystem providing a strong competitive moat that ensures customer trust and effective data utilization.
- Full-Year Guidance Reaffirmed: Blackbaud reaffirmed its full-year revenue guidance of $1.173 billion to $1.179 billion and non-GAAP EPS guidance of $5.15 to $5.25, both broadly in line with consensus, demonstrating the company's confidence in its future performance.
See More
Blackbaud Q1 Earnings Beat Expectations, Reaffirms 2026 Guidance
- Earnings Highlights: Blackbaud reported Q1 non-GAAP EPS of $1.14, beating expectations by $0.02, with revenue of $281.1 million reflecting a 3.9% year-over-year increase, indicating the company's stable market performance.
- Sustained Growth: GAAP recurring revenue reached $276.5 million, up 5.0% and representing 98.3% of total revenue, showcasing strong growth potential in the company's core business.
- Future Outlook: Blackbaud reaffirmed its 2026 financial guidance, projecting GAAP revenue between $1.173 billion and $1.179 billion, with non-GAAP adjusted EBITDA expected to be between $430 million and $438 million, reflecting confidence in future growth.
- Cash Flow and Buybacks: The company anticipates non-GAAP free cash flow between $280 million and $290 million, and plans to achieve over 13% CAGR in EPS through aggressive AI rollout, enhancing shareholder returns.
See More
Blackbaud Sponsors AFP ICON, Advancing Responsible AI in Fundraising
- Industry Leadership: As the world's leading provider of AI-powered solutions for social impact, Blackbaud once again serves as the presenting sponsor of the AFP ICON conference, showcasing its long-standing commitment to advancing the fundraising profession, which is expected to further solidify its market leadership.
- AI Technology Innovation: The AI solutions showcased by Blackbaud at the conference are designed to help fundraising teams work smarter, expand their capacity, and build stronger donor relationships, which is anticipated to significantly enhance fundraising outcomes and meet increasing donor expectations.
- Collaboration with Microsoft: Blackbaud's recognition as a Certified Software for Non-Profit AI by Microsoft indicates that its AI capabilities meet enterprise-grade security and interoperability standards, which will enhance customer confidence in adopting AI technologies in mission-critical environments.
- Investment in Education and Development: Blackbaud and AFP jointly invest in professional development and ethical standards, aiming to strengthen the global fundraising community, which is expected to support the sustainable growth of nonprofit organizations through educational programs and innovation.
See More
Blackbaud Sponsors AFP ICON Conference, Advancing AI in Fundraising
- AI Fundraising Tool Innovation: At the AFP ICON 2026 conference, Blackbaud showcased its AI solutions specifically designed for fundraising, aimed at helping fundraising teams enhance efficiency, expand capacity, and accelerate impact, thereby achieving higher fundraising results even with limited resources.
- Development Agent Launch: Blackbaud introduced its first Agent for Good™, an autonomous AI digital assistant that collaborates with Raiser's Edge NXT® users to identify and cultivate donors, driving personalized engagement that significantly increases donation scale.
- Intelligent Assistant Features: The AI-enhanced intelligent assistant in Raiser's Edge NXT automates workflows and provides advanced analytics, enabling fundraisers to make smarter decisions and boosting productivity while ensuring they maintain control over the processes.
- Longstanding Partnership with AFP: Blackbaud and AFP invest in professional development and ethical standards, committed to strengthening the global fundraising community through education and innovation, thereby promoting the sustainable growth of nonprofit organizations.
See More
Blackbaud Partners with Student First to Enhance Higher Education Solutions
- Strategic Investment: Blackbaud announces a strategic investment in Student First, aiming to integrate its modern student information system with leading financial management and fundraising solutions, thereby simplifying administrative workflows and enhancing the student experience for higher education institutions.
- Unified Campus Experience: By integrating enrollment, financial aid, scholarships, and financial management, the partnership will create a best-in-class connected campus experience, enabling institutions to operate smarter and enhance visibility in resource allocation to drive student success.
- Collaborative Product Direction: The two companies will collaborate on product direction and go-to-market strategies to expand and enhance their services to higher education institutions, replicating Blackbaud's success with its Total School Solution approach for independent K-12 schools, offering a complete suite of integrated products tailored to educational needs.
- Cloud-Native Platform Advantage: The cloud-native student information system provided by Student First will seamlessly integrate with Blackbaud's industry-leading solutions, helping educational institutions achieve compliance and long-term sustainability in a challenging financial environment while enhancing the overall student experience.
See More
Wall Street's Latest Rating Upgrades Summary
- Equinix Upgrade: Raymond James upgraded Equinix from Market Perform to Strong Buy, citing a robust recovery driven by AI-based demand after last year's adjustments, indicating a strong market rebound potential for the company.
- SiteOne's Positive Outlook: Deutsche Bank upgraded SiteOne from Hold to Buy, anticipating a guidance beat with a price target of $160, implying a 32% upside, reflecting market recognition of its attractive low valuation.
- Mistras Initiation: Roth Capital initiated coverage on Mistras with a Buy rating and a $22 target, highlighting significant improvements in operational efficiency that have driven margin expansion and free cash flow conversion, showcasing strong growth potential.
- Nutrien Upgrade: Bank of America upgraded Nutrien from Neutral to Buy, viewing the agricultural market's outlook as increasingly bullish, positioning Nutrien as a best-in-class operator with sustained growth capabilities.
See More
Blackbaud Reports Mixed Q1 Results Amid AI Insights
- Revenue Beat: Blackbaud's Q1 revenue reached $281.1 million, surpassing the consensus estimate of $279.33 million and reflecting a 4.2% year-over-year growth, which bolsters investor confidence in the company's performance in the social impact sector.
- Earnings Miss: The adjusted EPS of $1.14 fell short of the $1.18 analyst estimate, although the non-GAAP adjusted EBITDA rose to $98.7 million with margins expanding by 100 basis points to 35.1%, indicating effective cost management.
- AI Strategic Advantage: CEO Mike Gianoni emphasized in an interview that Blackbaud's AI technology is a tailwind rather than a threat, with the company's proprietary data ecosystem providing a strong competitive moat that ensures customer trust and effective data utilization.
- Full-Year Guidance Reaffirmed: Blackbaud reaffirmed its full-year revenue guidance of $1.173 billion to $1.179 billion and non-GAAP EPS guidance of $5.15 to $5.25, both broadly in line with consensus, demonstrating the company's confidence in its future performance.
See More
Blackbaud Q1 Earnings Beat Expectations, Reaffirms 2026 Guidance
- Earnings Highlights: Blackbaud reported Q1 non-GAAP EPS of $1.14, beating expectations by $0.02, with revenue of $281.1 million reflecting a 3.9% year-over-year increase, indicating the company's stable market performance.
- Sustained Growth: GAAP recurring revenue reached $276.5 million, up 5.0% and representing 98.3% of total revenue, showcasing strong growth potential in the company's core business.
- Future Outlook: Blackbaud reaffirmed its 2026 financial guidance, projecting GAAP revenue between $1.173 billion and $1.179 billion, with non-GAAP adjusted EBITDA expected to be between $430 million and $438 million, reflecting confidence in future growth.
- Cash Flow and Buybacks: The company anticipates non-GAAP free cash flow between $280 million and $290 million, and plans to achieve over 13% CAGR in EPS through aggressive AI rollout, enhancing shareholder returns.
See More
Blackbaud Sponsors AFP ICON, Advancing Responsible AI in Fundraising
- Industry Leadership: As the world's leading provider of AI-powered solutions for social impact, Blackbaud once again serves as the presenting sponsor of the AFP ICON conference, showcasing its long-standing commitment to advancing the fundraising profession, which is expected to further solidify its market leadership.
- AI Technology Innovation: The AI solutions showcased by Blackbaud at the conference are designed to help fundraising teams work smarter, expand their capacity, and build stronger donor relationships, which is anticipated to significantly enhance fundraising outcomes and meet increasing donor expectations.
- Collaboration with Microsoft: Blackbaud's recognition as a Certified Software for Non-Profit AI by Microsoft indicates that its AI capabilities meet enterprise-grade security and interoperability standards, which will enhance customer confidence in adopting AI technologies in mission-critical environments.
- Investment in Education and Development: Blackbaud and AFP jointly invest in professional development and ethical standards, aiming to strengthen the global fundraising community, which is expected to support the sustainable growth of nonprofit organizations through educational programs and innovation.
See More
Blackbaud Sponsors AFP ICON Conference, Advancing AI in Fundraising
- AI Fundraising Tool Innovation: At the AFP ICON 2026 conference, Blackbaud showcased its AI solutions specifically designed for fundraising, aimed at helping fundraising teams enhance efficiency, expand capacity, and accelerate impact, thereby achieving higher fundraising results even with limited resources.
- Development Agent Launch: Blackbaud introduced its first Agent for Good™, an autonomous AI digital assistant that collaborates with Raiser's Edge NXT® users to identify and cultivate donors, driving personalized engagement that significantly increases donation scale.
- Intelligent Assistant Features: The AI-enhanced intelligent assistant in Raiser's Edge NXT automates workflows and provides advanced analytics, enabling fundraisers to make smarter decisions and boosting productivity while ensuring they maintain control over the processes.
- Longstanding Partnership with AFP: Blackbaud and AFP invest in professional development and ethical standards, committed to strengthening the global fundraising community through education and innovation, thereby promoting the sustainable growth of nonprofit organizations.
See More
