The EPS beat is modest and revenue slightly missed consensus, with decelerating growth. Monitor the Q3 print for signs of sustained deceleration or a pickup in organic growth.
Price Chart
Executive Summary
Blackbaud reported Q2 2026 results with GAAP revenue of $290.6M (+3.0% YoY) and non-GAAP EPS of $1.33, beating the $1.28 consensus by 4.2%. The company reaffirmed its full-year 2026 guidance and expects to finish in the upper half of all ranges, with EPS and free cash flow at the high end.
Key Financial Metrics
Key Facts
- GAAP total revenue was $290.6M, up 3.0% YoY
- Non-GAAP diluted EPS was $1.33, beating consensus of $1.28 by 4.2%
- GAAP recurring revenue was $285.3M, representing 98.2% of total revenue
- Non-GAAP adjusted EBITDA was $110.3M, up $1.2M YoY
- Rule of 40 score was 41.0%
- Full-year 2026 guidance reaffirmed: revenue $1.173B-$1.179B, non-GAAP EPS $5.15-$5.25
- Company expects to finish fiscal year 2026 in the upper half of guidance ranges
- Repurchased just over 6% of shares year-to-date, reducing total shares outstanding by ~15% since Q4 2023
Financial Impact
Non-GAAP EPS beat of $0.05 vs consensus ($1.33 vs $1.28), revenue slightly below consensus ($290.6M vs $292.4M estimate)
Risk Factors
- Revenue growth decelerated to 3.0% from 4.2% in Q1, signaling potential demand slowdown
- Non-GAAP operating margin declined 110 bps YoY to 32.6%
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001280058-26-000022 |
| Document: blkb-20260729.htm | 0001280058-26-000022 |
| Document: 0001280058-26-000022-index-headers.html | 0001280058-26-000022 |
| Document: 0001280058-26-000022-index.html | 0001280058-26-000022 |
| Document: 0001280058-26-000022.txt | 0001280058-26-000022 |
| 8-K Data (Synthetic) | 0001280058-26-000022 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 13d ago | Press Release | $48.86 | awaiting T+60 | — | $53.70 (+9.91%) |
Sep 29, 2026 28d ago | Press Release | $41.43 | awaiting T+60 | — | $53.70 (+29.62%) |
Sep 2, 2026 7w ago | Insider Cluster | $48.46 | awaiting T+60 | — | $53.70 (+10.81%) |
Aug 17, 2026 10w ago | 3 | $44.36 | awaiting T+60 | — | $53.70 (+21.06%) |
Aug 10, 2026 11w ago | 8-K | $45.45 | awaiting T+60 | — | $53.70 (+18.15%) |
Jul 29, 2026 12w ago | 8-K | $42.18 $56.48 | ▲ +33.90% | ▲ +29.17% | $53.70 (+27.31%) |
Apr 29, 2026 25w ago | 8-K | $39.04 $32.71 | ▼ −16.21% | ▼ −20.33% | $53.70 (+37.55%) |
Apr 21, 2026 27w ago | DEFA14A | $38.62 $33.03 | ▼ −14.47% | ▼ −21.37% | $53.70 (+39.05%) |
Mar 3, 2026 34w ago | Insider Cluster | $49.77 $30.69 | ▼ −38.33% | ▼ −48.74% | $53.70 (+7.91%) |
Feb 24, 2026 35w ago | Insider Cluster | $47.21 $31.44 | ▼ −33.40% | ▼ −40.15% | $53.70 (+13.75%) |
US Market Status
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