Filing Flows › Blackbaud (BLKB) › Q2 2025
Blackbaud (BLKB) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Blackbaud (BLKB) reported revenue of $282M for the second quarter 2025 (Q2 2025), -2% from a year earlier and +4% from the quarter before. Operating margin was 20.3%, net earnings $26.5M (9.4% of revenue).
Blackbaud, Q2 2025: revenue $282M (-2% year over year), operating margin 20.3%, net earnings $26.5M, operating cash flow $66.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $282M | +4% | -2% |
| Gross profit | $168M | +9% | +5% |
| Operating profit | $57.3M | +191% | +38% |
| Net earnings | $26.5M | +444% | +25% |
| Operating cash flow | $66.9M | 48× | +26% |
| Free cash flow | $66.3M | 95× | +40% |
What changed
Revenue was $282.0M in Q2 2025, down 2% year over year and up 4% from the previous quarter. Contractual recurring was the largest line at 64% of revenue. Contractual recurring lost $13.3M year over year (down 7%), 253% of the total change.
Gross margin was 59.7%, up 3.7 points from a year earlier. Operating profit was $57.3M, a 20.3% margin (up 5.9 points year over year). Operating expenses fell 7% while revenue fell 2%. Net earnings were $26.5M, up 25% year over year. The effective tax rate was 33.9%.
Operating cash flow was $66.9M (up 26% year over year), 253% of net earnings. Non-cash charges added back $21.7M of depreciation and amortization and $27.3M of share-based compensation. Working capital and other items used $8.5M. Capital expenditures of $623K left free cash flow of $66.3M.
Questions
What was Blackbaud's revenue in the second quarter 2025?
Blackbaud (BLKB) reported revenue of $282M for the second quarter 2025 (Q2 2025), -2% from a year earlier and +4% from the quarter before.
Was Blackbaud profitable in the second quarter 2025?
Operating profit was $57.3M (20.3% of revenue) and net earnings $26.5M.
Source: Blackbaud 10-Q on SEC EDGAR.