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Blackbaud (BLKB) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Blackbaud (BLKB) Q3 2026 earnings results →

Q3 2026 Revenue up 4% year over year to $293M · 16¢ of every $1 of revenue kept as net profit · operating margin 20.5%

Blackbaud made $293M in Q3 2026 (+4% Y/Y): Recurring $287M, One-time services and other $5.6M. Operating margin 20.5%, net earnings $46.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.

Revenue$293M
Year over year+4%
Operating margin20.5%
Net earnings$46.1M
Operating cash flow$142M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $292.6M in Q3 2026, up 4% year over year and up 1% from the previous quarter. Contractual recurring was the largest line at 64% of revenue. Transactional recurring added $6.9M year over year (up 7%), 60% of the total change.

Gross margin was 60.8%, up 1.2 points from Q3 2025. Operating profit was $60.0M, a 20.5% margin (up 1.1 points year over year). Of the extra revenue versus Q3 2025, 47% reached operating profit, above the 19% margin then. Operating expenses grew 4% against revenue growth of 4%. The fastest-growing cost line was General & admin (+12%). Net earnings were $46.1M, down 3% year over year. The effective tax rate was 0.8%.

Operating cash flow was $141.7M (up 2% year over year), 308% of net earnings. Non-cash charges added back $21.3M of depreciation and amortization and $21.1M of share-based compensation. Working capital and other items added $53.3M. Capital expenditures of $3.2M left free cash flow of $138.5M.

Quarterly history

Blackbaud revenue by quarterBlackbaud revenue by quarter$270MQ1 2025$282MQ2 2025$281MQ3 2025$295MQ4 2025$281MQ1 2026$291MQ2 2026$293MQ3 2026
Blackbaud net earnings by quarterBlackbaud net earnings by quarter$4.9MQ1 2025$26.5MQ2 2025$47.5MQ3 2025$36.7MQ4 2025$31.1MQ1 2026$35.4MQ2 2026$46.1MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 28, 2026$293M+4%20.5%$46.1M$142M
Q2 202610-QJul 29, 2026$291M+3%21.3%$35.4M$91.1M
Q1 202610-QApr 29, 2026$281M+4%18.3%$31.1M$51.5M
Q4 202510-KFeb 18, 2026$295M-2%20.0%$36.7M$58.0M
Q3 202510-QNov 3, 2025$281M-2%19.4%$47.5M$139M
Q2 202510-QJul 30, 2025$282M-2%20.3%$26.5M$66.9M
Q1 202510-QApr 30, 2025$270M-3%7.3%$4.9M$1.4M

Charts

Blackbaud: revenue growth, year over year and quarter over quarterBlackbaud: revenue growth, year over year and quarter over quarterY/YQ/Q-3%Q1 2025-2%+4%Q2 2025-2%0%Q3 2025-2%+5%Q4 2025+4%-5%Q1 2026+3%+3%Q2 2026+4%+1%Q3 2026
Latest (Q3 2026): Y/Y +4%, Q/Q +1%.
Blackbaud: where the cash came from (+) and went (−), TTM to Q3 2026Blackbaud: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$342MBuybacks−$214MOther investing−$62.0MNet borrowing (+) / repaid (−)−$32.4MTaxes on employees’ shares−$26.4MCapital spending−$10.3MOther financing$9.5MCash drawn (+) / kept (−)−$6.5MExchange rates−$457K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Blackbaud: profit against cash, quarter by quarterBlackbaud: profit against cash, quarter by quarterNet incomeOperating cash flow−$346M$73.6MQ4 2024$4.3M$1.4MQ1 2025$26.5M$66.9MQ2 2025$47.5M$139MQ3 2025$36.7M$58.0MQ4 2025$31.1M$51.5MQ1 2026$35.4M$91.1MQ2 2026$46.1M$142MQ3 2026
Latest (Q3 2026): Net income $46.1M, Operating cash flow $142M.
Blackbaud: diluted shares by fiscal yearBlackbaud: diluted shares by fiscal year49MFY202048MFY202152MFY202254MFY202351MFY202448MFY2025
-0.5% since FY2020: buybacks shrank the count.
Blackbaud: long-term debt falling due (FY2025)Blackbaud: long-term debt falling due (FY2025)$22.7M2026$22.2M2027$22.4M2028$999M2029$2.8M2030$41.4MLater
Cash $38.9M, short-term investments —, long-term debt $1.1B at 2025-12-31.
Blackbaud in its industry: growth against margin (192 companies, SIC 7372)Blackbaud in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYBLKB (+4%, 20%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Blackbaud

We are the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility and individual change makers, we propel impact at scale with the sector’s most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world’s largest philanthropic data set, the most connected workflows, and the most powerful impact network, our solutions are building a future where resources are unleashed at the speed of need. Blackbaud brings over four decades of leadership to this sector: since originally incorporating in New York in 1982 and later reincorporating as a South Carolina corporation in 1991 and as a Delaware corporation in 2004.

In its own words, from its 10-K, filed Feb 18, 2026.

Blackbaud against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +4% against the peers' median +14%. Operating margin: 20.5% against the peers' median 20.5%.

CompanyQuarterRevenueY/YOp. margin
BLKB BlackbaudQ3 2026$293M+4%20.5%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: Blackbaud 10-Q on SEC EDGAR · CIK 1280058 · Services-Prepackaged Software

13F: who owns BLKB and who is buying

Largest holders of BLKB (13F)Largest holders of BLKB (13F)Vanguard Group$341MClearlake Capital Group, L.P.$289MBlackRock$177MMorgan Stanley$145MVanguard Portfolio Management LLC$93.2MJanus Henderson Group$60.1MVanguard Capital Management LLC$57.4MState Street$48.9MJupiter Topco LLC$47.1MGoldman Sachs Group$36.8M
Funds' net buying of BLKB by quarter (13F)Funds' net buying of BLKB by quarter (13F)−$110M2024-09−$63.9M2024-12$566K2025-03−$16.4M2025-06−$10.1M2025-09−$73.7M2025-12$41.1M2026-03$101M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on BLKB

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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