Blackbaud, Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $1.13B | $1.15B | $1.11B | $1.06B | $927.7M | $913.2M | $900.4M |
| Cost of Revenue | — | $465.1M | $523.2M | $508.0M | $505.4M | $443.2M | $428.1M | $418.4M |
| Gross Profit | — | $663.3M | $631.4M | $599.1M | $552.7M | $484.5M | $485.2M | $482.0M |
| Gross Margin | — | 58.8% | 54.7% | 54.1% | 52.2% | 52.2% | 53.1% | 53.5% |
| Operating Expenses | ||||||||
| Research & Development | — | $138.1M | $153.7M | $147.5M | $156.9M | $124.6M | $100.1M | $106.2M |
| SG&A Expense | — | $154.6M | $142.7M | $189.9M | $199.9M | $146.3M | $134.9M | $113.4M |
| Operating Income | — | $190.8M | $-271.4M | $46.4M | $-28.5M | $24.9M | $37.2M | $27.1M |
| Operating Margin | — | 16.9% | -23.5% | 4.2% | -2.7% | 2.7% | 4.1% | 3.0% |
| Interest Expense | — | $68.0M | $55.6M | $39.9M | $35.8M | $18.0M | $17.3M | $20.6M |
| Pretax Income | — | $131.8M | $-312.5M | $19.3M | $-55.6M | $7.1M | $21.6M | $10.6M |
| Income Tax Expense | — | $16.8M | $-12.9M | $16.3M | $-10.2M | $1.4M | $13.9M | $-1.3M |
| Net Income | — | $115.0M | $-299.5M | $3.0M | $-45.4M | $5.7M | $7.7M | $11.9M |
| Net Margin | — | 10.2% | -25.9% | 0.3% | -4.3% | 0.6% | 0.8% | 1.3% |
| EPS (Basic) | — | $2.41 | $-5.92 | $0.06 | $-0.88 | $0.12 | $0.16 | $0.25 |
| EPS (Diluted) | — | $2.37 | $-5.92 | $0.06 | $-0.88 | $0.12 | $0.16 | $0.25 |
| Shares Outstanding (Basic) | 45.9M | 47.7M | 50.6M | 52.5M | 51.6M | 47.4M | 48.2M | 47.7M |
| Shares Outstanding (Diluted) | 45.9M | 48.5M | 50.6M | 53.7M | 51.6M | 48.2M | 48.7M | 48.3M |
| Dividends Per Share | — | — | — | — | — | — | $0.12 | $0.48 |
The intelligent investor is a realist who sells to optimists and buys from pessimists.