Full Yr 2022 Complete Earnings Exceeded $1 Billion with 14% Progress; Full Yr 2022 Financial Outcomes Met or Exceeded Guidance; Blackbaud Publicizes Full Yr 2023 Financial Guidance with Substantial Margin Development
CHARLESTON, S.C., Feb. 13, 2023 /PRNewswire/ — Blackbaud (NASDAQ: BLKB), the world’s essential cloud software program program agency powering social good, at current launched financial outcomes for its fourth quarter and full yr ended December 31, 2022.
“2022 was a yr of appreciable progress,” said Mike Gianoni, president and CEO, Blackbaud. “We proactively took steps all yr lengthy to raised place the company, deal with it successfully and efficiently in a weakened monetary system, and drive profitability, cash stream and enchancment on Rule of 40. Earnings surpassed the $1 billion mark for the first time in our agency historic previous, and we achieved 14% earnings progress yr over yr. Attempting ahead, we’re establishing on the sturdy execution in 2022 and keep focused on driving efficiencies and enhancements all through the enterprise as we progress alongside our Rule of 40 journey. On the midpoint of our full yr 2023 financial steering ranges, we anticipate pure earnings progress at mounted overseas cash of 4%, adjusted EBITDA margin of 30% and Rule of 40 at mounted overseas cash of roughly 34%, up 5 components versus closing yr. We’re assured in our outlook with plans in place to realize substantial effectivity acceleration as a result of the yr progresses and ship very important, enhanced shareholder price.”
Fourth Quarter 2022 Outcomes Compared with Fourth Quarter 2021 Outcomes:
GAAP complete earnings was $274.8 million , up 10.8%, with $265.2 million in GAAP recurring earnings, up 11.1%.
, up 10.8%, with in GAAP recurring earnings, up 11.1%. Non-GAAP pure recurring earnings elevated 1.3%.
GAAP loss from operations was $15.5 million , inclusive of security incident-related costs, web of insurance coverage protection recoveries of $26.5 million , with GAAP working margin of (5.7)%, a decrease of 300 basis components.
, inclusive of security incident-related costs, web of insurance coverage protection recoveries of , with GAAP working margin of (5.7)%, a decrease of 300 basis components. Non-GAAP earnings from operations was $54.9 million , with non-GAAP working margin of 20.0%, an increase of 20 basis components.
, with non-GAAP working margin of 20.0%, an increase of 20 basis components. GAAP web loss was $21.3 million , with GAAP diluted loss per share of $0.41 , down $0.26 per share.
, with GAAP diluted loss per share of , down per share. Non-GAAP web earnings was $36.0 million , with non-GAAP diluted earnings per share of $0.68 , down $0.07 per share.
, with non-GAAP diluted earnings per share of , down per share. Non-GAAP adjusted EBITDA was $67.9 million , up $7.2 million , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components.
, up , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components. GAAP web cash provided by working actions was $14.1 million , a decrease of $29.8 million .
, a decrease of . Non-GAAP adjusted free cash stream was $7.6 million , a decrease of $24.3 million , with non-GAAP adjusted free cash stream margin of two.8%, a decrease of 1,010 basis components.
“We had a secure end to a strong 2022, meeting or exceeding full yr financial steering all through earnings, profitability and adjusted free cash stream,” said Tony Boor, authorities vice chairman and CFO, Blackbaud. “For the entire yr 2022, Rule of 40 at mounted overseas cash was 29%, a two-point enchancment over 2021. We drove sturdy cash expertise all yr lengthy and might proceed to rapidly deleverage inside the near time interval. In 2023, we depend on an acceleration in our financial effectivity as a result of the yr progresses, starting with vital enchancment inside the second quarter. We keep intently focused on managing costs and delivering substantial margin enlargement and earnings potential with actions under administration administration. We’ll proceed to drive operational execution all through our enterprise that we think about will velocity up Rule of 40 as a result of the yr progresses, giving further confidence in our potential to reach 40% inside the subsequent few years.”
An proof of all non-GAAP financial measures referenced on this press launch, along with the Rule of 40, is included beneath under the heading “Non-GAAP Financial Measures.” A reconciliation of the company’s non-GAAP financial measures to their most immediately comparable GAAP measures has been provided inside the financial assertion tables included beneath on this press launch.
Newest Agency Highlights
Blackbaud was named to Newsweek’s itemizing of America’s Most Accountable Firms 2023. Blackbaud is taken into account considered one of 500 companies on the itemizing, which highlights leaders in firm responsibility, spanning 14 industries.
Blackbaud appointed two new directors to its board. Yogesh Okay. Gupta , president and CEO, Progress Software program program Firm, and Rupal S. Hollenbeck , chief enterprise officer, Take a look at Stage Software program program Utilized sciences, joined Blackbaud’s board of directors. In addition to, TFull Yr 2022 Complete Earnings Exceeded $1 Billion with 14% Progress; Full Yr 2022 Financial Outcomes Met or Exceeded Guidance; Blackbaud Publicizes Full Yr 2023 Financial Guidance with Substantial Margin Development
CHARLESTON, S.C., Feb. 13, 2023 /PRNewswire/ — Blackbaud (NASDAQ: BLKB), the world’s essential cloud software program program agency powering social good, at current launched financial outcomes for its fourth quarter and full yr ended December 31, 2022.
“2022 was a yr of appreciable progress,” said Mike Gianoni, president and CEO, Blackbaud. “We proactively took steps all yr lengthy to raised place the company, deal with it successfully and efficiently in a weakened monetary system, and drive profitability, cash stream and enchancment on Rule of 40. Earnings surpassed the $1 billion mark for the first time in our agency historic previous, and we achieved 14% earnings progress yr over yr. Attempting ahead, we’re establishing on the sturdy execution in 2022 and keep focused on driving efficiencies and enhancements all through the enterprise as we progress alongside our Rule of 40 journey. On the midpoint of our full yr 2023 financial steering ranges, we anticipate pure earnings progress at mounted overseas cash of 4%, adjusted EBITDA margin of 30% and Rule of 40 at mounted overseas cash of roughly 34%, up 5 components versus closing yr. We’re assured in our outlook with plans in place to realize substantial effectivity acceleration as a result of the yr progresses and ship very important, enhanced shareholder price.”
Fourth Quarter 2022 Outcomes Compared with Fourth Quarter 2021 Outcomes:
GAAP complete earnings was $274.8 million , up 10.8%, with $265.2 million in GAAP recurring earnings, up 11.1%.
, up 10.8%, with in GAAP recurring earnings, up 11.1%. Non-GAAP pure recurring earnings elevated 1.3%.
GAAP loss from operations was $15.5 million , inclusive of security incident-related costs, web of insurance coverage protection recoveries of $26.5 million , with GAAP working margin of (5.7)%, a decrease of 300 basis components.
, inclusive of security incident-related costs, web of insurance coverage protection recoveries of , with GAAP working margin of (5.7)%, a decrease of 300 basis components. Non-GAAP earnings from operations was $54.9 million , with non-GAAP working margin of 20.0%, an increase of 20 basis components.
, with non-GAAP working margin of 20.0%, an increase of 20 basis components. GAAP web loss was $21.3 million , with GAAP diluted loss per share of $0.41 , down $0.26 per share.
, with GAAP diluted loss per share of , down per share. Non-GAAP web earnings was $36.0 million , with non-GAAP diluted earnings per share of $0.68 , down $0.07 per share.
, with non-GAAP diluted earnings per share of , down per share. Non-GAAP adjusted EBITDA was $67.9 million , up $7.2 million , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components.
, up , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components. GAAP web cash provided by working actions was $14.1 million , a decrease of $29.8 million .
, a decrease of . Non-GAAP adjusted free cash stream was $7.6 million , a decrease of $24.3 million , with non-GAAP adjusted free cash stream margin of two.8%, a decrease of 1,010 basis components.
“We had a secure end to a strong 2022, meeting or exceeding full yr financial steering all through earnings, profitability and adjusted free cash stream,” said Tony Boor, authorities vice chairman and CFO, Blackbaud. “For the entire yr 2022, Rule of 40 at mounted overseas cash was 29%, a two-point enchancment over 2021. We drove sturdy cash expertise all yr lengthy and might proceed to rapidly deleverage inside the near time interval. In 2023, we depend on an acceleration in our financial effectivity as a result of the yr progresses, starting with vital enchancment inside the second quarter. We keep intently focused on managing costs and delivering substantial margin enlargement and earnings potential with actions under administration administration. We’ll proceed to drive operational execution all through our enterprise that we think about will velocity up Rule of 40 as a result of the yr progresses, giving further confidence in our potential to reach 40% inside the subsequent few years.”
An proof of all non-GAAP financial measures referenced on this press launch, along with the Rule of 40, is included beneath under the heading “Non-GAAP Financial Measures.” A reconciliation of the company’s non-GAAP financial measures to their most immediately comparable GAAP measures has been provided inside the financial assertion tables included beneath on this press launch.
Newest Agency Highlights
Blackbaud was named to Newsweek’s itemizing of America’s Most Accountable Firms 2023. Blackbaud is taken into account considered one of 500 companies on the itemizing, which highlights leaders in firm responsibility, spanning 14 industries.
Blackbaud appointed two new directors to its board. Yogesh Okay. Gupta , president and CEO, Progress Software program program Firm, and Rupal S. Hollenbeck , chief enterprise officer, Take a look at Stage Software program program Utilized sciences, joined Blackbaud’s board of directors. In addition to, TFull Yr 2022 Complete Earnings Exceeded $1 Billion with 14% Progress; Full Yr 2022 Financial Outcomes Met or Exceeded Guidance; Blackbaud Publicizes Full Yr 2023 Financial Guidance with Substantial Margin Development
CHARLESTON, S.C., Feb. 13, 2023 /PRNewswire/ — Blackbaud (NASDAQ: BLKB), the world’s essential cloud software program program agency powering social good, at current launched financial outcomes for its fourth quarter and full yr ended December 31, 2022.
“2022 was a yr of appreciable progress,” said Mike Gianoni, president and CEO, Blackbaud. “We proactively took steps all yr lengthy to raised place the company, deal with it successfully and efficiently in a weakened monetary system, and drive profitability, cash stream and enchancment on Rule of 40. Earnings surpassed the $1 billion mark for the first time in our agency historic previous, and we achieved 14% earnings progress yr over yr. Attempting ahead, we’re establishing on the sturdy execution in 2022 and keep focused on driving efficiencies and enhancements all through the enterprise as we progress alongside our Rule of 40 journey. On the midpoint of our full yr 2023 financial steering ranges, we anticipate pure earnings progress at mounted overseas cash of 4%, adjusted EBITDA margin of 30% and Rule of 40 at mounted overseas cash of roughly 34%, up 5 components versus closing yr. We’re assured in our outlook with plans in place to realize substantial effectivity acceleration as a result of the yr progresses and ship very important, enhanced shareholder price.”
Fourth Quarter 2022 Outcomes Compared with Fourth Quarter 2021 Outcomes:
GAAP complete earnings was $274.8 million , up 10.8%, with $265.2 million in GAAP recurring earnings, up 11.1%.
, up 10.8%, with in GAAP recurring earnings, up 11.1%. Non-GAAP pure recurring earnings elevated 1.3%.
GAAP loss from operations was $15.5 million , inclusive of security incident-related costs, web of insurance coverage protection recoveries of $26.5 million , with GAAP working margin of (5.7)%, a decrease of 300 basis components.
, inclusive of security incident-related costs, web of insurance coverage protection recoveries of , with GAAP working margin of (5.7)%, a decrease of 300 basis components. Non-GAAP earnings from operations was $54.9 million , with non-GAAP working margin of 20.0%, an increase of 20 basis components.
, with non-GAAP working margin of 20.0%, an increase of 20 basis components. GAAP web loss was $21.3 million , with GAAP diluted loss per share of $0.41 , down $0.26 per share.
, with GAAP diluted loss per share of , down per share. Non-GAAP web earnings was $36.0 million , with non-GAAP diluted earnings per share of $0.68 , down $0.07 per share.
, with non-GAAP diluted earnings per share of , down per share. Non-GAAP adjusted EBITDA was $67.9 million , up $7.2 million , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components.
, up , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components. GAAP web cash provided by working actions was $14.1 million , a decrease of $29.8 million .
, a decrease of . Non-GAAP adjusted free cash stream was $7.6 million , a decrease of $24.3 million , with non-GAAP adjusted free cash stream margin of two.8%, a decrease of 1,010 basis components.
“We had a secure end to a strong 2022, meeting or exceeding full yr financial steering all through earnings, profitability and adjusted free cash stream,” said Tony Boor, authorities vice chairman and CFO, Blackbaud. “For the entire yr 2022, Rule of 40 at mounted overseas cash was 29%, a two-point enchancment over 2021. We drove sturdy cash expertise all yr lengthy and might proceed to rapidly deleverage inside the near time interval. In 2023, we depend on an acceleration in our financial effectivity as a result of the yr progresses, starting with vital enchancment inside the second quarter. We keep intently focused on managing costs and delivering substantial margin enlargement and earnings potential with actions under administration administration. We’ll proceed to drive operational execution all through our enterprise that we think about will velocity up Rule of 40 as a result of the yr progresses, giving further confidence in our potential to reach 40% inside the subsequent few years.”
An proof of all non-GAAP financial measures referenced on this press launch, along with the Rule of 40, is included beneath under the heading “Non-GAAP Financial Measures.” A reconciliation of the company’s non-GAAP financial measures to their most immediately comparable GAAP measures has been provided inside the financial assertion tables included beneath on this press launch.
Newest Agency Highlights
Blackbaud was named to Newsweek’s itemizing of America’s Most Accountable Firms 2023. Blackbaud is taken into account considered one of 500 companies on the itemizing, which highlights leaders in firm responsibility, spanning 14 industries.
Blackbaud appointed two new directors to its board. Yogesh Okay. Gupta , president and CEO, Progress Software program program Firm, and Rupal S. Hollenbeck , chief enterprise officer, Take a look at Stage Software program program Utilized sciences, joined Blackbaud’s board of directors. In addition to, TFull Yr 2022 Complete Earnings Exceeded $1 Billion with 14% Progress; Full Yr 2022 Financial Outcomes Met or Exceeded Guidance; Blackbaud Publicizes Full Yr 2023 Financial Guidance with Substantial Margin Development
CHARLESTON, S.C., Feb. 13, 2023 /PRNewswire/ — Blackbaud (NASDAQ: BLKB), the world’s essential cloud software program program agency powering social good, at current launched financial outcomes for its fourth quarter and full yr ended December 31, 2022.
“2022 was a yr of appreciable progress,” said Mike Gianoni, president and CEO, Blackbaud. “We proactively took steps all yr lengthy to raised place the company, deal with it successfully and efficiently in a weakened monetary system, and drive profitability, cash stream and enchancment on Rule of 40. Earnings surpassed the $1 billion mark for the first time in our agency historic previous, and we achieved 14% earnings progress yr over yr. Attempting ahead, we’re establishing on the sturdy execution in 2022 and keep focused on driving efficiencies and enhancements all through the enterprise as we progress alongside our Rule of 40 journey. On the midpoint of our full yr 2023 financial steering ranges, we anticipate pure earnings progress at mounted overseas cash of 4%, adjusted EBITDA margin of 30% and Rule of 40 at mounted overseas cash of roughly 34%, up 5 components versus closing yr. We’re assured in our outlook with plans in place to realize substantial effectivity acceleration as a result of the yr progresses and ship very important, enhanced shareholder price.”
Fourth Quarter 2022 Outcomes Compared with Fourth Quarter 2021 Outcomes:
GAAP complete earnings was $274.8 million , up 10.8%, with $265.2 million in GAAP recurring earnings, up 11.1%.
, up 10.8%, with in GAAP recurring earnings, up 11.1%. Non-GAAP pure recurring earnings elevated 1.3%.
GAAP loss from operations was $15.5 million , inclusive of security incident-related costs, web of insurance coverage protection recoveries of $26.5 million , with GAAP working margin of (5.7)%, a decrease of 300 basis components.
, inclusive of security incident-related costs, web of insurance coverage protection recoveries of , with GAAP working margin of (5.7)%, a decrease of 300 basis components. Non-GAAP earnings from operations was $54.9 million , with non-GAAP working margin of 20.0%, an increase of 20 basis components.
, with non-GAAP working margin of 20.0%, an increase of 20 basis components. GAAP web loss was $21.3 million , with GAAP diluted loss per share of $0.41 , down $0.26 per share.
, with GAAP diluted loss per share of , down per share. Non-GAAP web earnings was $36.0 million , with non-GAAP diluted earnings per share of $0.68 , down $0.07 per share.
, with non-GAAP diluted earnings per share of , down per share. Non-GAAP adjusted EBITDA was $67.9 million , up $7.2 million , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components.
, up , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components. GAAP web cash provided by working actions was $14.1 million , a decrease of $29.8 million .
, a decrease of . Non-GAAP adjusted free cash stream was $7.6 million , a decrease of $24.3 million , with non-GAAP adjusted free cash stream margin of two.8%, a decrease of 1,010 basis components.
“We had a secure end to a strong 2022, meeting or exceeding full yr financial steering all through earnings, profitability and adjusted free cash stream,” said Tony Boor, authorities vice chairman and CFO, Blackbaud. “For the entire yr 2022, Rule of 40 at mounted overseas cash was 29%, a two-point enchancment over 2021. We drove sturdy cash expertise all yr lengthy and might proceed to rapidly deleverage inside the near time interval. In 2023, we depend on an acceleration in our financial effectivity as a result of the yr progresses, starting with vital enchancment inside the second quarter. We keep intently focused on managing costs and delivering substantial margin enlargement and earnings potential with actions under administration administration. We’ll proceed to drive operational execution all through our enterprise that we think about will velocity up Rule of 40 as a result of the yr progresses, giving further confidence in our potential to reach 40% inside the subsequent few years.”
An proof of all non-GAAP financial measures referenced on this press launch, along with the Rule of 40, is included beneath under the heading “Non-GAAP Financial Measures.” A reconciliation of the company’s non-GAAP financial measures to their most immediately comparable GAAP measures has been provided inside the financial assertion tables included beneath on this press launch.
Newest Agency Highlights
Blackbaud was named to Newsweek’s itemizing of America’s Most Accountable Firms 2023. Blackbaud is taken into account considered one of 500 companies on the itemizing, which highlights leaders in firm responsibility, spanning 14 industries.
Blackbaud appointed two new directors to its board. Yogesh Okay. Gupta , president and CEO, Progress Software program program Firm, and Rupal S. Hollenbeck , chief enterprise officer, Take a look at Stage Software program program Utilized sciences, joined Blackbaud’s board of directors. In addition to, TFull Yr 2022 Complete Earnings Exceeded $1 Billion with 14% Progress; Full Yr 2022 Financial Outcomes Met or Exceeded Guidance; Blackbaud Publicizes Full Yr 2023 Financial Guidance with Substantial Margin Development
CHARLESTON, S.C., Feb. 13, 2023 /PRNewswire/ — Blackbaud (NASDAQ: BLKB), the world’s essential cloud software program program agency powering social good, at current launched financial outcomes for its fourth quarter and full yr ended December 31, 2022.
“2022 was a yr of appreciable progress,” said Mike Gianoni, president and CEO, Blackbaud. “We proactively took steps all yr lengthy to raised place the company, deal with it successfully and efficiently in a weakened monetary system, and drive profitability, cash stream and enchancment on Rule of 40. Earnings surpassed the $1 billion mark for the first time in our agency historic previous, and we achieved 14% earnings progress yr over yr. Attempting ahead, we’re establishing on the sturdy execution in 2022 and keep focused on driving efficiencies and enhancements all through the enterprise as we progress alongside our Rule of 40 journey. On the midpoint of our full yr 2023 financial steering ranges, we anticipate pure earnings progress at mounted overseas cash of 4%, adjusted EBITDA margin of 30% and Rule of 40 at mounted overseas cash of roughly 34%, up 5 components versus closing yr. We’re assured in our outlook with plans in place to realize substantial effectivity acceleration as a result of the yr progresses and ship very important, enhanced shareholder price.”
Fourth Quarter 2022 Outcomes Compared with Fourth Quarter 2021 Outcomes:
GAAP complete earnings was $274.8 million , up 10.8%, with $265.2 million in GAAP recurring earnings, up 11.1%.
, up 10.8%, with in GAAP recurring earnings, up 11.1%. Non-GAAP pure recurring earnings elevated 1.3%.
GAAP loss from operations was $15.5 million , inclusive of security incident-related costs, web of insurance coverage protection recoveries of $26.5 million , with GAAP working margin of (5.7)%, a decrease of 300 basis components.
, inclusive of security incident-related costs, web of insurance coverage protection recoveries of , with GAAP working margin of (5.7)%, a decrease of 300 basis components. Non-GAAP earnings from operations was $54.9 million , with non-GAAP working margin of 20.0%, an increase of 20 basis components.
, with non-GAAP working margin of 20.0%, an increase of 20 basis components. GAAP web loss was $21.3 million , with GAAP diluted loss per share of $0.41 , down $0.26 per share.
, with GAAP diluted loss per share of , down per share. Non-GAAP web earnings was $36.0 million , with non-GAAP diluted earnings per share of $0.68 , down $0.07 per share.
, with non-GAAP diluted earnings per share of , down per share. Non-GAAP adjusted EBITDA was $67.9 million , up $7.2 million , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components.
, up , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components. GAAP web cash provided by working actions was $14.1 million , a decrease of $29.8 million .
, a decrease of . Non-GAAP adjusted free cash stream was $7.6 million , a decrease of $24.3 million , with non-GAAP adjusted free cash stream margin of two.8%, a decrease of 1,010 basis components.
“We had a secure end to a strong 2022, meeting or exceeding full yr financial steering all through earnings, profitability and adjusted free cash stream,” said Tony Boor, authorities vice chairman and CFO, Blackbaud. “For the entire yr 2022, Rule of 40 at mounted overseas cash was 29%, a two-point enchancment over 2021. We drove sturdy cash expertise all yr lengthy and might proceed to rapidly deleverage inside the near time interval. In 2023, we depend on an acceleration in our financial effectivity as a result of the yr progresses, starting with vital enchancment inside the second quarter. We keep intently focused on managing costs and delivering substantial margin enlargement and earnings potential with actions under administration administration. We’ll proceed to drive operational execution all through our enterprise that we think about will velocity up Rule of 40 as a result of the yr progresses, giving further confidence in our potential to reach 40% inside the subsequent few years.”
An proof of all non-GAAP financial measures referenced on this press launch, along with the Rule of 40, is included beneath under the heading “Non-GAAP Financial Measures.” A reconciliation of the company’s non-GAAP financial measures to their most immediately comparable GAAP measures has been provided inside the financial assertion tables included beneath on this press launch.
Newest Agency Highlights
Blackbaud was named to Newsweek’s itemizing of America’s Most Accountable Firms 2023. Blackbaud is taken into account considered one of 500 companies on the itemizing, which highlights leaders in firm responsibility, spanning 14 industries.
Blackbaud appointed two new directors to its board. Yogesh Okay. Gupta , president and CEO, Progress Software program program Firm, and Rupal S. Hollenbeck , chief enterprise officer, Take a look at Stage Software program program Utilized sciences, joined Blackbaud’s board of directors. In addition to, TFull Yr 2022 Complete Earnings Exceeded $1 Billion with 14% Progress; Full Yr 2022 Financial Outcomes Met or Exceeded Guidance; Blackbaud Publicizes Full Yr 2023 Financial Guidance with Substantial Margin Development
CHARLESTON, S.C., Feb. 13, 2023 /PRNewswire/ — Blackbaud (NASDAQ: BLKB), the world’s essential cloud software program program agency powering social good, at current launched financial outcomes for its fourth quarter and full yr ended December 31, 2022.
“2022 was a yr of appreciable progress,” said Mike Gianoni, president and CEO, Blackbaud. “We proactively took steps all yr lengthy to raised place the company, deal with it successfully and efficiently in a weakened monetary system, and drive profitability, cash stream and enchancment on Rule of 40. Earnings surpassed the $1 billion mark for the first time in our agency historic previous, and we achieved 14% earnings progress yr over yr. Attempting ahead, we’re establishing on the sturdy execution in 2022 and keep focused on driving efficiencies and enhancements all through the enterprise as we progress alongside our Rule of 40 journey. On the midpoint of our full yr 2023 financial steering ranges, we anticipate pure earnings progress at mounted overseas cash of 4%, adjusted EBITDA margin of 30% and Rule of 40 at mounted overseas cash of roughly 34%, up 5 components versus closing yr. We’re assured in our outlook with plans in place to realize substantial effectivity acceleration as a result of the yr progresses and ship very important, enhanced shareholder price.”
Fourth Quarter 2022 Outcomes Compared with Fourth Quarter 2021 Outcomes:
GAAP complete earnings was $274.8 million , up 10.8%, with $265.2 million in GAAP recurring earnings, up 11.1%.
, up 10.8%, with in GAAP recurring earnings, up 11.1%. Non-GAAP pure recurring earnings elevated 1.3%.
GAAP loss from operations was $15.5 million , inclusive of security incident-related costs, web of insurance coverage protection recoveries of $26.5 million , with GAAP working margin of (5.7)%, a decrease of 300 basis components.
, inclusive of security incident-related costs, web of insurance coverage protection recoveries of , with GAAP working margin of (5.7)%, a decrease of 300 basis components. Non-GAAP earnings from operations was $54.9 million , with non-GAAP working margin of 20.0%, an increase of 20 basis components.
, with non-GAAP working margin of 20.0%, an increase of 20 basis components. GAAP web loss was $21.3 million , with GAAP diluted loss per share of $0.41 , down $0.26 per share.
, with GAAP diluted loss per share of , down per share. Non-GAAP web earnings was $36.0 million , with non-GAAP diluted earnings per share of $0.68 , down $0.07 per share.
, with non-GAAP diluted earnings per share of , down per share. Non-GAAP adjusted EBITDA was $67.9 million , up $7.2 million , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components.
, up , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components. GAAP web cash provided by working actions was $14.1 million , a decrease of $29.8 million .
, a decrease of . Non-GAAP adjusted free cash stream was $7.6 million , a decrease of $24.3 million , with non-GAAP adjusted free cash stream margin of two.8%, a decrease of 1,010 basis components.
“We had a secure end to a strong 2022, meeting or exceeding full yr financial steering all through earnings, profitability and adjusted free cash stream,” said Tony Boor, authorities vice chairman and CFO, Blackbaud. “For the entire yr 2022, Rule of 40 at mounted overseas cash was 29%, a two-point enchancment over 2021. We drove sturdy cash expertise all yr lengthy and might proceed to rapidly deleverage inside the near time interval. In 2023, we depend on an acceleration in our financial effectivity as a result of the yr progresses, starting with vital enchancment inside the second quarter. We keep intently focused on managing costs and delivering substantial margin enlargement and earnings potential with actions under administration administration. We’ll proceed to drive operational execution all through our enterprise that we think about will velocity up Rule of 40 as a result of the yr progresses, giving further confidence in our potential to reach 40% inside the subsequent few years.”
An proof of all non-GAAP financial measures referenced on this press launch, along with the Rule of 40, is included beneath under the heading “Non-GAAP Financial Measures.” A reconciliation of the company’s non-GAAP financial measures to their most immediately comparable GAAP measures has been provided inside the financial assertion tables included beneath on this press launch.
Newest Agency Highlights
Blackbaud was named to Newsweek’s itemizing of America’s Most Accountable Firms 2023. Blackbaud is taken into account considered one of 500 companies on the itemizing, which highlights leaders in firm responsibility, spanning 14 industries.
Blackbaud appointed two new directors to its board. Yogesh Okay. Gupta , president and CEO, Progress Software program program Firm, and Rupal S. Hollenbeck , chief enterprise officer, Take a look at Stage Software program program Utilized sciences, joined Blackbaud’s board of directors. In addition to, TFull Yr 2022 Complete Earnings Exceeded $1 Billion with 14% Progress; Full Yr 2022 Financial Outcomes Met or Exceeded Guidance; Blackbaud Publicizes Full Yr 2023 Financial Guidance with Substantial Margin Development
CHARLESTON, S.C., Feb. 13, 2023 /PRNewswire/ — Blackbaud (NASDAQ: BLKB), the world’s essential cloud software program program agency powering social good, at current launched financial outcomes for its fourth quarter and full yr ended December 31, 2022.
“2022 was a yr of appreciable progress,” said Mike Gianoni, president and CEO, Blackbaud. “We proactively took steps all yr lengthy to raised place the company, deal with it successfully and efficiently in a weakened monetary system, and drive profitability, cash stream and enchancment on Rule of 40. Earnings surpassed the $1 billion mark for the first time in our agency historic previous, and we achieved 14% earnings progress yr over yr. Attempting ahead, we’re establishing on the sturdy execution in 2022 and keep focused on driving efficiencies and enhancements all through the enterprise as we progress alongside our Rule of 40 journey. On the midpoint of our full yr 2023 financial steering ranges, we anticipate pure earnings progress at mounted overseas cash of 4%, adjusted EBITDA margin of 30% and Rule of 40 at mounted overseas cash of roughly 34%, up 5 components versus closing yr. We’re assured in our outlook with plans in place to realize substantial effectivity acceleration as a result of the yr progresses and ship very important, enhanced shareholder price.”
Fourth Quarter 2022 Outcomes Compared with Fourth Quarter 2021 Outcomes:
GAAP complete earnings was $274.8 million , up 10.8%, with $265.2 million in GAAP recurring earnings, up 11.1%.
, up 10.8%, with in GAAP recurring earnings, up 11.1%. Non-GAAP pure recurring earnings elevated 1.3%.
GAAP loss from operations was $15.5 million , inclusive of security incident-related costs, web of insurance coverage protection recoveries of $26.5 million , with GAAP working margin of (5.7)%, a decrease of 300 basis components.
, inclusive of security incident-related costs, web of insurance coverage protection recoveries of , with GAAP working margin of (5.7)%, a decrease of 300 basis components. Non-GAAP earnings from operations was $54.9 million , with non-GAAP working margin of 20.0%, an increase of 20 basis components.
, with non-GAAP working margin of 20.0%, an increase of 20 basis components. GAAP web loss was $21.3 million , with GAAP diluted loss per share of $0.41 , down $0.26 per share.
, with GAAP diluted loss per share of , down per share. Non-GAAP web earnings was $36.0 million , with non-GAAP diluted earnings per share of $0.68 , down $0.07 per share.
, with non-GAAP diluted earnings per share of , down per share. Non-GAAP adjusted EBITDA was $67.9 million , up $7.2 million , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components.
, up , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components. GAAP web cash provided by working actions was $14.1 million , a decrease of $29.8 million .
, a decrease of . Non-GAAP adjusted free cash stream was $7.6 million , a decrease of $24.3 million , with non-GAAP adjusted free cash stream margin of two.8%, a decrease of 1,010 basis components.
“We had a secure end to a strong 2022, meeting or exceeding full yr financial steering all through earnings, profitability and adjusted free cash stream,” said Tony Boor, authorities vice chairman and CFO, Blackbaud. “For the entire yr 2022, Rule of 40 at mounted overseas cash was 29%, a two-point enchancment over 2021. We drove sturdy cash expertise all yr lengthy and might proceed to rapidly deleverage inside the near time interval. In 2023, we depend on an acceleration in our financial effectivity as a result of the yr progresses, starting with vital enchancment inside the second quarter. We keep intently focused on managing costs and delivering substantial margin enlargement and earnings potential with actions under administration administration. We’ll proceed to drive operational execution all through our enterprise that we think about will velocity up Rule of 40 as a result of the yr progresses, giving further confidence in our potential to reach 40% inside the subsequent few years.”
An proof of all non-GAAP financial measures referenced on this press launch, along with the Rule of 40, is included beneath under the heading “Non-GAAP Financial Measures.” A reconciliation of the company’s non-GAAP financial measures to their most immediately comparable GAAP measures has been provided inside the financial assertion tables included beneath on this press launch.
Newest Agency Highlights
Blackbaud was named to Newsweek’s itemizing of America’s Most Accountable Firms 2023. Blackbaud is taken into account considered one of 500 companies on the itemizing, which highlights leaders in firm responsibility, spanning 14 industries.
Blackbaud appointed two new directors to its board. Yogesh Okay. Gupta , president and CEO, Progress Software program program Firm, and Rupal S. Hollenbeck , chief enterprise officer, Take a look at Stage Software program program Utilized sciences, joined Blackbaud’s board of directors. In addition to, TFull Yr 2022 Complete Earnings Exceeded $1 Billion with 14% Progress; Full Yr 2022 Financial Outcomes Met or Exceeded Guidance; Blackbaud Publicizes Full Yr 2023 Financial Guidance with Substantial Margin Development
CHARLESTON, S.C., Feb. 13, 2023 /PRNewswire/ — Blackbaud (NASDAQ: BLKB), the world’s essential cloud software program program agency powering social good, at current launched financial outcomes for its fourth quarter and full yr ended December 31, 2022.
“2022 was a yr of appreciable progress,” said Mike Gianoni, president and CEO, Blackbaud. “We proactively took steps all yr lengthy to raised place the company, deal with it successfully and efficiently in a weakened monetary system, and drive profitability, cash stream and enchancment on Rule of 40. Earnings surpassed the $1 billion mark for the first time in our agency historic previous, and we achieved 14% earnings progress yr over yr. Attempting ahead, we’re establishing on the sturdy execution in 2022 and keep focused on driving efficiencies and enhancements all through the enterprise as we progress alongside our Rule of 40 journey. On the midpoint of our full yr 2023 financial steering ranges, we anticipate pure earnings progress at mounted overseas cash of 4%, adjusted EBITDA margin of 30% and Rule of 40 at mounted overseas cash of roughly 34%, up 5 components versus closing yr. We’re assured in our outlook with plans in place to realize substantial effectivity acceleration as a result of the yr progresses and ship very important, enhanced shareholder price.”
Fourth Quarter 2022 Outcomes Compared with Fourth Quarter 2021 Outcomes:
GAAP complete earnings was $274.8 million , up 10.8%, with $265.2 million in GAAP recurring earnings, up 11.1%.
, up 10.8%, with in GAAP recurring earnings, up 11.1%. Non-GAAP pure recurring earnings elevated 1.3%.
GAAP loss from operations was $15.5 million , inclusive of security incident-related costs, web of insurance coverage protection recoveries of $26.5 million , with GAAP working margin of (5.7)%, a decrease of 300 basis components.
, inclusive of security incident-related costs, web of insurance coverage protection recoveries of , with GAAP working margin of (5.7)%, a decrease of 300 basis components. Non-GAAP earnings from operations was $54.9 million , with non-GAAP working margin of 20.0%, an increase of 20 basis components.
, with non-GAAP working margin of 20.0%, an increase of 20 basis components. GAAP web loss was $21.3 million , with GAAP diluted loss per share of $0.41 , down $0.26 per share.
, with GAAP diluted loss per share of , down per share. Non-GAAP web earnings was $36.0 million , with non-GAAP diluted earnings per share of $0.68 , down $0.07 per share.
, with non-GAAP diluted earnings per share of , down per share. Non-GAAP adjusted EBITDA was $67.9 million , up $7.2 million , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components.
, up , with non-GAAP adjusted EBITDA margin of 24.7%, an increase of 20 basis components. GAAP web cash provided by working actions was $14.1 million , a decrease of $29.8 million .
, a decrease of . Non-GAAP adjusted free cash stream was $7.6 million , a decrease of $24.3 million , with non-GAAP adjusted free cash stream margin of two.8%, a decrease of 1,010 basis components.
“We had a secure end to a strong 2022, meeting or exceeding full yr financial steering all through earnings, profitability and adjusted free cash stream,” said Tony Boor, authorities vice chairman and CFO, Blackbaud. “For the entire yr 2022, Rule of 40 at mounted overseas cash was 29%, a two-point enchancment over 2021. We drove sturdy cash expertise all yr lengthy and might proceed to rapidly deleverage inside the near time interval. In 2023, we depend on an acceleration in our financial effectivity as a result of the yr progresses, starting with vital enchancment inside the second quarter. We keep intently focused on managing costs and delivering substantial margin enlargement and earnings potential with actions under administration administration. We’ll proceed to drive operational execution all through our enterprise that we think about will velocity up Rule of 40 as a result of the yr progresses, giving further confidence in our potential to reach 40% inside the subsequent few years.”
An proof of all non-GAAP financial measures referenced on this press launch, along with the Rule of 40, is included beneath under the heading “Non-GAAP Financial Measures.” A reconciliation of the company’s non-GAAP financial measures to their most immediately comparable GAAP measures has been provided inside the financial assertion tables included beneath on this press launch.
Newest Agency Highlights
Blackbaud was named to Newsweek’s itemizing of America’s Most Accountable Firms 2023. Blackbaud is taken into account considered one of 500 companies on the itemizing, which highlights leaders in firm responsibility, spanning 14 industries.
Blackbaud appointed two new directors to its board. Yogesh Okay. Gupta , president and CEO, Progress Software program program Firm, and Rupal S. Hollenbeck , chief enterprise officer, Take a look at Stage Software program program Utilized sciences, joined Blackbaud’s board of directors. In addition to, T
