Blackbaud Q2 2026: Revenue Climbs 3%, EPS Hits $0.79; Guidance Reaffirmed, AI Agent Debuts
BLKB sits 65% above its 52-week low of $25.58 on elevated volume (2.2× avg).
Summary
Blackbaud posted Q2 2026 revenue of $290.6M (+3% YoY) and GAAP EPS of $0.79, reaffirmed full-year guidance, and launched its first agentic AI product. Gross retention dipped to 91% amid a heavy renewal year, while buybacks maintained a strong pace.
Key Events · Earnings and Guidance · BLKB
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Q2 Revenue +3%, EPS $0.79
Revenue reached $290.6 million, up 3% year-over-year, with GAAP diluted EPS of $0.79 compared to $0.55 in Q2 2025. Non-GAAP organic revenue growth was 3.0%.
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Full-Year Guidance Reaffirmed
Management reaffirmed 2026 guidance; separately, CEO Mike Gianoni indicated results are expected in the upper half of the range. Interest expense is projected at $62–$66 million for the full year.
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Agentic AI Product Launched
The Blackbaud fundraising development agent entered general availability under a subscription model, with annual pricing in the tens of thousands of dollars. Four additional AI agents are planned.
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Gross Retention Dips to 91%
Gross dollar retention fell to approximately 91% for the twelve months ended June 30, 2026, driven by a 40% larger contract renewal cohort in 2026. Management expects improvement by the end of 2027.
Analysis · BLKB · Technology
A solid quarter for Blackbaud featured 3% revenue growth and GAAP EPS of $0.79, surpassing the prior-year period. Full-year guidance was reaffirmed, and the CEO noted that results are tracking toward the upper half of the range. Strategically, the launch of the company's first agentic AI solution opens a new product category with subscription pricing. On the retention front, gross dollar retention slipped to 91% as a larger-than-usual contract renewal cohort cycles through—a headwind management expects to ease by the end of 2027. Meanwhile, aggressive buybacks continued: 2.4 million shares were repurchased for $110 million in the first half, shrinking the share count by about 6.2% from year-end 2025.
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At the time of this filing, BLKB was trading at $42.18 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $25.58 to $74.88. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.