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BLKB · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Blackbaud, Inc. (BLKB) stock moving?
Blackbaud reported Q3 2026 results on Oct 28. Adjusted EPS of $1.36 beat the $1.33 estimate, while sales of $292.6M missed the $293.9M estimate. Management affirmed FY2026 guidance of $5.15-$5.25 adjusted EPS and $1.173B-$1.179B in sales, but both midpoints sit slightly below consensus ($5.25 and $1.177B). The stock gapped down to a $45.48 low at the open on Oct 28 on about 1.6x average volume, then closed at $52.51, down 2.2% from $53.70. It has since traded in a roughly $52.5-$56 range and closed at $54.92 on Nov 10. Volume has faded, with the Nov 10 session at about 243K shares versus a 30-day average of about 466K. The feed also contained three items about Basellandschaftliche Kantonalbank, which trades under the same ticker but is a different issuer, so they were excluded. The provided news shows no new Blackbaud-specific catalyst for the coming days.
News behind the analysis
- Blackbaud, Inc. Reports Q3 2026 Financial ResultsBlackbaud posted Q3 2026 adjusted EPS of $1.36 and revenue of $292.6M. The release was furnished with the company's Form 8-K.
- Blackbaud Affirms FY2026 Adj EPS Guidance of $5.15-$5.25 vs $5.25 Est; Affirms FY2026 Sales Guidance of $1.173B-$1.179B vs $1.177B EstBlackbaud kept its FY2026 adjusted EPS guidance at $5.15-$5.25 and sales guidance at $1.173B-$1.179B. Both midpoints sit slightly below the consensus estimates.
- Blackbaud Q3 Adj. EPS $1.36 Beats $1.33 Estimate, Sales $292.641M Miss $293.935M EstimateAdjusted EPS beat the $1.33 estimate, while sales of $292.641M fell short of the $293.935M estimate.
- Blackbaud Q3 2026 Earnings Call TranscriptFull transcript of the Q3 2026 earnings call, held the day results were released.
- Form 8-K: Results of Operations and Financial Condition (Blackbaud, Inc.)Item 2.02 filing that furnishes the Q3 2026 press release (Exhibit 99.1) with unaudited results for the quarter ended Sep 30, 2026.
- Form 10-Q: Quarterly Report (Blackbaud, Inc.)Quarterly report for the period ended Sep 30, 2026, filed on the same day as the Q3 results.
About Blackbaud, Inc.
Blackbaud is a Charleston, South Carolina-based company that makes cloud software for nonprofits, schools, foundations and companies running corporate giving programs. Its products cover fundraising and donor management (such as Raiser's Edge NXT), school management, nonprofit accounting, and grantmaking. It is one of the largest software companies focused only on the social-impact sector and is now adding AI tools to its products.
How it makes money
Almost all of its revenue repeats: recurring revenue was about 98% of the total in mid-2026. Most of it comes from subscription contracts for its cloud software, which customers renew over several years. A second, transaction-based stream comes from fees on payments processed through its products, such as Blackbaud Integrated Payments for online donations. Quarterly revenue is roughly $290 million (about $1.1–1.2 billion a year), with organic growth of around 3–4% in 2026. The company sold its EVERFI unit in 2025 and plans to spend at least half of its free cash flow from 2026 to 2030 on buying back shares.
What usually moves BLKB
- Contract renewals, price increases and customer retention
- Payment volumes tied to charitable giving
- Margin and free cash flow growth, plus share buybacks
- Uptake of AI products and competition from bigger software firms
- Nonprofit and education sector budgets