Blackbaud (BLKB) Announces Long-Term Financial Goals and Strategic Outlook

Blackbaud (NASDAQ: BLKB), the world's leading cloud software company powering social good, today announced long-term financial goals. In conjunction with the announcement, Blackbaud will also host a conference call Wednesday, December 2, at 8:00 a.m. Eastern time to discuss the company's goals and strategic outlook.

"Over the long term, we have a substantial opportunity to drive meaningful acceleration in financial performance as we execute our balanced strategy with a sharper focus on profitability," said Mike Gianoni, Blackbaud's president and CEO. "We have multi-year, cross-functional strategic programs and projects already in place that put us on the path toward our long-term aspirational goal to achieve the 'Rule of 40' with mid-to-high single digit organic revenue growth. These efforts are centered around delighting our customers through industry leading cloud solutions, further optimizing our go-to-market model and driving operational scale and efficiency, all while enhancing the future of work at Blackbaud for our employees and delivering increased value to our shareholders."

Financial Goals:

"The 'Rule of 40' provides a solid financial framework to assess our progress going forward as we continue to execute a balanced approach to strengthen our business and elevate our financial profile," said Tony Boor, executive vice president and CFO. "Our pivot to place a greater emphasis on profitability positions us to significantly improve on the 'Rule of 40' in a post-pandemic environment and gives us heightened confidence in our expected future free cash flow generation. We believe steady execution against this financial framework paired with our updated capital deployment strategy will drive substantial shareholder value."

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