Blackbaud, Inc

Blackbaud builds cloud software for the social impact economy, with products used by nonprofits, schools, foundations, and corporate social responsibility teams to raise funds, manage grants, run finance operations, and administer education workflows. Its platform combines subscription software with transaction-based payment services, so revenue comes from both recurring software access and the volume of donations, tuition, and other payments processed through its systems. The company has broadened beyond fundraising into financial management, grantmaking, scholarship administration, student information, and learning management, creating a more integrated operating system for mission-driven organizations. Blackbaud is also pushing AI across its products and internal operations to improve workflow automation, customer outcomes, and operating efficiency.

24,5 %

58,8 %

10,2 %

−2,3 %

0.79

0.79

— Blackbaud, Inc
%
Fundraising and donor engagement40% Cloud tools for nonprofit fundraising, donor communications, and online giving workflows.
Financial management20% Accounting, fund, sub-fund, expense, and procurement software for nonprofit finance teams.
Education solutions15% Software for tuition billing, student records, and learning management in schools.
Grant and award management10% Platforms for grantmaking, scholarship administration, and outcomes tracking.
Payment services10% Integrated donation, tuition, and transaction processing, including card and ACH payments.
Services and support5% Implementation, data conversion, customization, training, and customer support.

Blackbaud sells primarily to nonprofit organizations that need software to raise donations, manage constituents,...

  • Nonprofit organizationsprimary

    Buy fundraising, donor engagement, finance, and payment tools to increase donations and manage stewardship and compliance.

  • Educational institutionsprimary

    Use tuition management, student information, and learning management software to run school operations and parent/student workflows.

  • Foundations and grantmakerssecondary

    Purchase grantmaking and award management software to administer applications, awards, due diligence, and outcomes reporting.

  • Corporate social responsibility teamssecondary

    Use grant and community investment tools to manage CSR programs and measure social impact.

  • Mission-driven finance teamssecondary

    Adopt Financial Edge NXT and purchase cards to manage funds, expenses, and reporting across nonprofit finance operations.

Blackbaud is headquartered in the United States and operates with a remote-first model, with offices and operations in...

  • Headquartered in the United States, which is the core revenue and customer market
  • Operations in Australia, Canada, Costa Rica, India, and the United Kingdom
  • Supports users in 100+ countries, reflecting a broad installed base
  • India is being expanded mainly for talent and lower-cost operations, not sales
  • North America is likely the most important market because nonprofit and education customers are concentrated there

Blackbaud’s strategy centers on deepening its cloud platform for social impact organizations by adding AI-driven...

01
AI-enabled product innovationshort-term

AI is intended to improve workflow automation, customer value, and product differentiation across the platform.

02
Cross-sell and customer retentionmedium-term

A more integrated suite increases switching costs and supports renewals across fundraising, finance, and education.

03
Transactional revenue expansionmedium-term

Payment and usage-based revenue can grow with donor activity, tuition payments, and event workflows.

04
Operating efficiency and margin improvementshort-term

Cost discipline and process simplification support profitability and operating leverage.

Blackbaud faces execution risk from its rapid adoption of AI, because the technology is still evolving and can create...

high

AI-related operational and reputational risk

Blackbaud is embedding generative, predictive, interactive, and agentic AI into products and internal workflows, which can create errors, opaque decisions, and legal exposure.

Scope
Product features and internal operations
Materiality
high
high

Cybersecurity and data privacy breaches

The company processes sensitive donor, student, and financial data, so a breach could damage trust and trigger liability.

Scope
Cloud software and payment services
Materiality
high
medium

Transaction volume volatility

Payment and usage-based revenue depends on charitable giving, tuition payments, and event activity, which can vary with macro conditions and seasonality.

Scope
Integrated payments and transactional recurring revenue
Materiality
high
medium

Customer retention and competitive pressure

Recurring revenue depends on renewals and adoption of integrated modules; weaker product value or competition can slow growth.

Scope
Subscription software base
Materiality
high
medium

Operational disruption from restructuring

Office rationalization, vendor renegotiation, and workforce changes can reduce costs but may also affect service delivery if poorly executed.

Scope
Support, implementation, and engineering
Materiality
medium
Revenue recognition for bundled cloud and transaction services
Quarterly revenue comparability and deferred revenue balances
Intangible asset amortization and impairment
Operating profit and non-cash charges
Debt and interest rate swaps
Financing costs and cash flow
Lease accounting and restructuring costs
Operating expenses and one-time items

: 11/08/2026