Blackbaud Q2 2026: Revenue Up 3%, EPS $0.79, Reaffirms Upper-Half Guidance, Buyback Reduces Shares 15%

summarizeSummary

Blackbaud reported Q2 2026 results with 3% revenue growth, GAAP EPS of $0.79, and reaffirmed full-year guidance at the upper half. The company repurchased over 6% of shares YTD, reducing total shares outstanding by ~15% since Q4 2023.

check_boxKey Events · Earnings and Guidance · BLKB

• Q2 Revenue and Earnings Beat

  GAAP revenue of $290.6M, up 3.0% year-over-year; GAAP diluted EPS of $0.79, up $0.24 per share; non-GAAP diluted EPS of $1.33, up $0.11 per share.

• Strong Cash Flow Generation

  GAAP operating cash flow of $91.1M, up $24.1M; non-GAAP free cash flow of $75.3M, up $23.8M, with free cash flow margin of 25.9%.

• FY2026 Guidance Reaffirmed at Upper Half

  Management expects to finish in the upper half of all guidance ranges: revenue $1.173B-$1.179B, adjusted EBITDA $430M-$438M, non-GAAP EPS $5.15-$5.25, free cash flow $280M-$290M.

• Aggressive Share Buyback Continues

  Repurchased just over 6% of shares YTD; total shares outstanding reduced by approximately 15% since Q4 2023; ~$850M remaining under buyback program.

auto_awesomeAnalysis · BLKB · Technology

Blackbaud delivered a solid Q2 with 3% organic revenue growth, a 41% Rule of 40 score, and a sharp increase in free cash flow. Management reaffirmed full-year guidance and expects to finish in the upper half of all ranges, signaling confidence in the second half. The aggressive buyback—over 6% of shares repurchased year-to-date—continues to shrink the share count, boosting per-share metrics. This is a steady, execution-driven quarter that supports the investment thesis of a profitable, cash-generative software company returning capital to shareholders.