Blackbaud: Fourth Quarter Financial Highlights

Blackbaud Reports Fourth-Quarter Profit

Blackbaud Inc., headquartered in Charleston, South Carolina, announced a net profit of $36.7 million for the fourth quarter, marking a turnaround from a loss during the same period last year.

The company, which specializes in software and services for nonprofit organizations, recorded earnings of $0.76 per share. When excluding expenses related to stock options and other one-time items, adjusted earnings reached $1.19 per share.

During the quarter, Blackbaud generated $295.3 million in revenue.

For the full year, the company reported a net income of $115 million, or $2.37 per share, with total annual revenue amounting to $1.13 billion, reflecting a return to profitability.

Despite these results, Blackbaud’s stock price has dropped 24% since the start of the year and is down 38% compared to the same time last year.