Blackbaud Inc. reported its fourth quarter (Q4) 2025 earnings, posting GAAP total revenue of USD 295.3 million, a decline of 2.3%, primarily attributed to the divestiture of EVERFI. GAAP recurring revenue for the period was USD 290.8 million, down 1.8%, representing 98.5% of total revenue. On a non-GAAP basis, organic revenue increased 4.3%, while non-GAAP organic recurring revenue rose 4.8%. GAAP income from operations for Q4 2025 reached USD 59.1 million, with a GAAP operating margin of 20.0%, an increase of 141.6 percentage points. Non-GAAP income from operations was USD 88.7 million, and non-GAAP operating margin stood at 30.0%, up 2.7 percentage points. Management highlighted the company’s focus on long-term strategy and its mission-critical solutions empowered by AI, stating that Blackbaud is well positioned to benefit from the next wave of technological change alongside its customers. The company attributes changes in financial performance mainly to the divestiture of EVERFI and emphasized the relevance of non-GAAP measures in providing insight into ongoing operational performance.

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