Q4 2024 Blackbaud Inc Earnings Call Transcript
Key Points
- Blackbaud Inc (BLKB) successfully divested EVERFI, which was dilutive to revenue growth and profitability, allowing the company to focus on its core business.
- The company achieved significant improvement in new logo wins and deepened relationships with existing customers, particularly in the K-12 education vertical.
- Blackbaud Inc (BLKB) reported strong financial results for 2024, with revenue of $1,155 million and an adjusted EBITDA margin of nearly 34%.
- The company's adjusted free cash flow remained robust at approximately $245 million, representing 21% of revenue, up from 19% in 2023.
- Blackbaud Inc (BLKB) is leveraging AI to enhance customer workflows and efficiency, with over 5,000 customers adopting machine learning features in its products.
- The divestiture of EVERFI resulted in a one-time cash release payment of $28 million, impacting the company's financials.
- Blackbaud Inc (BLKB) anticipates a decline in adjusted free cash flow for 2025, with guidance set at $185 million to $195 million, down from $245 million in 2024.
- The company expects a negative impact of $2 million to $3 million on revenue and adjusted EBITDA due to currency fluctuations in 2025.
- Interest expenses are projected to increase significantly due to stock repurchases, with an expected $11 million incremental impact year-over-year.
- Blackbaud Inc (BLKB) is not incorporating any anticipated viral giving in its 2025 guidance, which could affect revenue projections.
Good day and welcome to Blackbaud's fourth quarter and fiscal year 2024 earnings conference call. Today's conference is being recorded.
I'll now turn the conference over to Tom Barth, Investor Relations. Please go ahead, sir.
Good morning, everyone. Thank you for joining us on Blackbaud fourth quarter and full year 2024 earnings call.
Joining me on the call today are Mike Gianoni, Blackbaud's CEO, President, and Vice Chairman; and Anthony Boor, Blackbaud's Executive Vice President and Chief Financial Officer. Mike and Tony will make prepared remarks, and then we will open up your line for your questions.
Please note that our comments today contain forward-looking statements subject to risk and uncertainties that could cause actual results to differ materially from those projected. Please refer to our most recent form 10-K and other SEC filings for more information on those risks.
The discussion today will focus on non-GAAP results. Please refer to our press release
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