Blackbaud Q1 revenue rises 4.2%, slightly beats estimates

Blackbaud

29/04/2026 12:13

Overview

Social impact software provider's Q1 revenue grew 4.2%, slightly beating analyst expectations

Adjusted EPS for Q1 beat analyst expectations

Company repurchased about 4.5% of shares outstanding at end of 2025

Outlook

Blackbaud reaffirms 2026 GAAP revenue guidance of $1.173 bln to $1.179 bln

Company expects 2026 non-GAAP adjusted EBITDA of $430 mln to $438 mln

Blackbaud sees 2026 non-GAAP diluted EPS of $5.15 to $5.25

Result Drivers

RECURRING REVENUE - Q1 recurring revenue rose 5% and made up 98.3% of total revenue, supporting overall growth

AI PRODUCT LAUNCH - Launch of Development Agent, an agentic AI solution, drove early demand and customer interest, per CEO Mike Gianoni

DISCIPLINED EXECUTION & INNOVATION - Co said results reflect disciplined execution of operating plan and ongoing investment in innovation, per CFO Chad Anderson

Company press release: ID:nPn75S5mya

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
$281.10 mln
$279.83 mln (4 Analysts)
Q1 Adjusted EPS
Beat
$1.14
$1.12 (4 Analysts)
Q1 Adjusted Net Income
$52.60 mln
Q1 Adjusted EBITDA
$98.70 mln
Q1 Adjusted Income From Operations
$83.40 mln
Q1 Adjusted Operating Margin
29.60%


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy."

Wall Street's median 12-month price target for Blackbaud Inc is $57.50, about 53.3% above its April 28 closing price of $37.51

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)