BLACKBAUD Reports Strong Financial Results for Second Quarter of Fiscal Year 2023
August 26, 2023
☀️Earnings Overview
On June 30 2023, BLACKBAUD ($NASDAQ:BLKB) released its financial results for the second quarter of fiscal year 2023 (ending August 1 2023). The total revenue for the quarter was USD 271.0 million, a 2.3% increase from the same period in the previous year. Net income also saw a 161.4% increase over the same period, amounting to USD 2.1 million.
Share Price
The company reported strong growth in both revenue and profit, driving their stock to open at $75.0 and close at $75.1, just 0.5% lower than the prior closing price of 75.4. The financial results highlighted BLACKBAUD‘s continued success in creating strong customer relationships and providing innovative solutions to their clients. This growth was driven by increased demand for their cloud-based products and services. This success has been reflected in their stock performance, with the stock opening at $75.0 and closing at $75.1, just 0.5% lower than the prior closing price of 75.4. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Blackbaud. More…
| Total Revenues | Net Income | Net Margin |
| 1.07k | -44.17 | -4.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Blackbaud. More…
| Operations | Investing | Financing |
| 197.12 | -63.37 | 178.81 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Blackbaud. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.09k | 2.33k | 14.14 |
Key Ratios Snapshot
Some of the financial key ratios for Blackbaud are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.3% | -26.7% | -2.1% |
| FCF Margin | ROE | ROA |
| 12.1% | -1.9% | -0.5% |
Analysis
At GoodWhale, we’ve done a deep dive into BLACKBAUD’s fundamentals so that you can make an informed decision. After carefully evaluating their financials and business performance, our team of analysts has concluded that BLACKBAUD is a medium risk investment. However, it’s important to note that we have detected one risk warning in their balance sheet. To get the full picture on the risks associated with this company, we recommend registering with us to get access to our detailed report. More…
Peers
Blackbaud works with more than 40,000 organizations, including nonprofits, K-12 schools, higher education institutions, and healthcare organizations. Blackbaud’s solutions enable organizations to increase donations, manage events, track progress, and much more. Blackbaud’s main competitors are ReadyTech Holdings Ltd, PowerSchool Holdings Inc, and Shenzhen Kingsun Science and Technology Co Ltd. These companies offer similar solutions and compete for the same market share.
– ReadyTech Holdings Ltd ($ASX:RDY)
WriteTech Holdings Ltd is a publicly traded company with a market capitalization of 452.71M as of 2022. The company has a return on equity of 8.16%. WriteTech Holdings Ltd is a provider of enterprise software solutions. The company’s products are designed to help organizations manage their business operations more effectively.
– PowerSchool Holdings Inc ($NYSE:PWSC)
PowerSchool Holdings Inc is a software company that provides educational software solutions to schools and school districts. The company has a market cap of 3.98B as of 2022 and a Return on Equity of -0.38%. PowerSchool’s software solutions are used by educators to manage student data, assess student progress, and engage with students and families.
– Shenzhen Kingsun Science and Technology Co Ltd ($SZSE:300235)
Shenzhen Kingsun Science and Technology Co Ltd is a publicly traded company with a market capitalization of 1.8 billion as of 2022. The company’s return on equity is 3.09%. Shenzhen Kingsun Science and Technology Co Ltd is engaged in the business of research, development, production and sales of LED products.
Summary
Investors in BLACKBAUD are encouraged by the company’s financial results for the second quarter of fiscal year 2023, ending August 1 2023. Total revenue for the quarter was USD 271.0 million, 2.3% higher than the same period the year before, and net income was USD 2.1 million, a 161.4% increase year over year. These figures suggest that BLACKBAUD is in a strong financial position and is likely to continue delivering returns to its investors in the future.
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