CHARLESTON, S.C., Feb. 13, 2023 /PRNewswire/ — Blackbaud (NASDAQ: BLKB), the world’s leading cloud software company powering social good, today announced financial results for its fourth quarter and full year ended December 31, 2022.
“2022 was a year of substantial progress,” said Mike Gianoni, president and CEO, Blackbaud. “We proactively took steps throughout the year to better position the company, manage it efficiently and effectively in a weakened economy, and drive profitability, cash flow and improvement on Rule of 40. Revenue surpassed the $1 billion mark for the first time in our company history, and we achieved 14% revenue growth year over year. Looking ahead, we are building on the strong execution in 2022 and remain focused on driving efficiencies and improvements across the business as we progress along our Rule of 40 journey. At the midpoint of our full year 2023 financial guidance ranges, we anticipate organic revenue growth at constant currency of 4%, adjusted EBITDA margin of 30% and Rule of 40 at constant currency of roughly 34%, up five points versus last year. We are confident in our outlook with plans in place to achieve substantial performance acceleration as the year progresses and deliver significant, enhanced shareholder value.”