← BLACKBAUD INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (loss) | $41.5m | $65.9m | $44.8m | $11.9m | $7.7m | $5.7m | ($45.4m) | $1.8m | ($283.2m) | $115.0m | |
| Depreciation and amortization | $70.5m | $73.9m | $79.6m | $85.7m | $92.7m | $82.4m | $102.4m | $109.5m | $121.7m | $86.2m | |
| Amortization of deferred financing costs and discount | $958k | $838k | $752k | $752k | $781k | $1.6m | $2.4m | $1.8m | $2.5m | $2.5m | |
| Deferred taxes | $3.0m | ($14.3m) | ($619k) | ($3.6m) | $8.8m | ($2.4m) | ($26.6m) | ($24.4m) | ($85.0m) | ($181k) | |
| EVERFI impairment charges | — | — | — | — | — | — | $0 | $0 | $390.2m | $0 | |
| Loss on disposition of businesses | $0 | $0 | — | — | — | — | $0 | $0 | $16.8m | $0 | |
| Net provision for credit losses and sales returns | $3.7m | $11.7m | $6.9m | $8.7m | $13.2m | $11.4m | $6.1m | $4.5m | $4.9m | $4.4m | |
| Stock-based compensation expense | $32.6m | $40.6m | $48.3m | $58.6m | $87.3m | $120.4m | $110.3m | $127.8m | $105.0m | $92.9m | |
| Other non-cash adjustments | ($864k) | $504k | ($1.9m) | $4.9m | $3.0m | $10.5m | $5.7m | $5.0m | $2.5m | ($5.2m) | |
| Accounts receivable | ($13.2m) | ($15.8m) | $2.2m | ($6.6m) | ($18.4m) | ($6.5m) | ($7.3m) | ($3.2m) | $4.7m | ($938k) | |
| Prepaid expenses and other assets | ($2.5m) | ($6.1m) | ($5.2m) | $6.4m | $22.6m | ($2.0m) | $26.2m | $16.9m | $3.3m | ($4.5m) | |
| Trade accounts payable | $3.7m | $1.0m | $9.5m | $12.9m | ($20.0m) | ($9.7m) | $21.6m | ($18.6m) | $28.3m | ($23.5m) | |
| Accrued expenses and other liabilities | ($751k) | ($5.0m) | ($2.0m) | ($9.7m) | ($49.2m) | ($8.2m) | ($2.4m) | ($30.3m) | ($13.3m) | ($10.8m) | |
| Deferred revenue | $14.9m | $22.9m | $19.2m | $12.5m | ($485k) | $10.5m | $11.1m | $8.9m | ($2.5m) | $9.7m | |
| Purchase of property and equipment | ($17.7m) | ($10.2m) | ($14.7m) | ($11.5m) | ($29.7m) | ($11.7m) | ($12.3m) | ($4.7m) | ($7.4m) | ($7.8m) | |
| Capitalized software development costs | ($26.4m) | ($28.3m) | ($37.6m) | ($46.9m) | ($42.2m) | ($40.5m) | ($58.8m) | ($59.4m) | ($59.8m) | ($54.2m) | |
| Change in due to customers | $96.0m | $226.7m | ($188.5m) | $77.8m | $61.2m | ($13.5m) | $111.4m | ($6.8m) | $47.0m | ($25.6m) | |
| Change in customer funds receivable | $0 | $6.6m | ($844k) | $1.3m | $138k | ($731k) | $380k | ($60k) | ($1.7m) | $997k | |
| Purchase of treasury stock, including excise tax payments | — | — | $0 | $0 | ($41.0m) | ($108.4m) | $0 | ($18.8m) | ($418.0m) | ($217.2m) | |
| Purchases by assuming directly related liabilities | — | — | $0 | $0 | ($61.1m) | $0 | ($1.7m) | ($2.5m) | ($2.1m) | $0 | |
| Purchase of equipment and other assets included in accounts payable | ($3.2m) | ($1.5m) | ($882k) | ($794k) | ($840k) | ($1.7m) | ($158k) | ($837k) | ($31k) | ($798k) | |
| Net cash provided by operating activities | $153.6m | $176.3m | $201.4m | $182.5m | $148.0m | $213.7m | $203.9m | $199.6m | $296.0m | $265.6m | |
| Cash Used in Divestiture of Businesses | — | — | — | — | — | — | — | $0 | ($1.2m) | ($12.2m) | |
| Other investing activities | $0 | $0 | ($500k) | $500k | $0 | $0 | $0 | ($250k) | ($5.0m) | $0 | |
| Net cash used in investing activities | ($47.4m) | ($184.9m) | ($97.8m) | ($167.2m) | ($71.8m) | ($471.3m) | ($85.5m) | ($64.4m) | ($73.4m) | ($74.9m) | |
| Proceeds from issuance of debt | $227.2m | $774.5m | $270.9m | $424.0m | $748.5m | $582.2m | $211.0m | $293.2m | $1.4b | $404.5m | |
| Debt issuance costs | $0 | ($3.1m) | $0 | $0 | ($4.6m) | ($3.1m) | $0 | $0 | ($6.5m) | $0 | |
| Payments on debt | ($293.6m) | ($679.1m) | ($322.5m) | ($344.5m) | ($747.6m) | ($153.0m) | ($310.7m) | ($374.6m) | ($1.1b) | ($369.8m) | |
| Net cash used in financing activities | ($104.5m) | $278.6m | ($291.9m) | $111.2m | ($10.7m) | $264.1m | ($25.7m) | ($143.0m) | ($139.4m) | ($247.4m) | |
| Effect of exchange rate on cash, cash equivalents and restricted cash | $2.6m | ($550k) | ($2.0m) | $978k | $2.2m | $297k | ($10.5m) | $2.0m | ($2.0m) | $6.2m | |
| Net (decrease) increase in cash, cash equivalents and restricted cash | $100.3m | $269.5m | ($190.3m) | $127.4m | $67.7m | $6.8m | $82.2m | ($5.7m) | $81.3m | ($50.5m) | |
| Purchase of net assets of acquired companies, net of cash and restricted cash acquired | ($3.4m) | ($146.8m) | ($44.9m) | ($109.4m) | $0 | ($419.1m) | ($20.9m) | ($13k) | $0 | ($700k) | |
| Cash, cash equivalents and restricted cash, beginning of year | $370.7m | $640.2m | $449.8m | $577.3m | $645.0m | $651.8m | $733.9m | $728.3m | $809.5m | $759.0m | |
| Cash and cash equivalents | $16.9m | $29.8m | $30.9m | $31.8m | $35.8m | $55.1m | $31.7m | $31.3m | $67.6m | $38.9m | |
| Total restricted cash | $353.8m | $610.3m | $419.0m | $545.5m | $609.2m | $596.6m | $702.2m | $697.0m | $741.9m | $720.1m | |
| Total cash, cash equivalents and restricted cash in the statement of cash flows | $370.7m | $640.2m | $449.8m | $577.3m | $645.0m | $651.8m | $733.9m | $728.3m | $809.5m | $759.0m | |
| Cash paid for interest | ($9.6m) | ($10.6m) | ($15.3m) | ($19.9m) | ($15.7m) | ($16.4m) | ($33.4m) | ($38.1m) | ($51.9m) | ($65.6m) | |
| Employee taxes paid for withheld shares upon equity award settlement | ($15.4m) | ($24.0m) | ($27.7m) | ($23.8m) | ($21.4m) | ($39.4m) | ($36.4m) | ($35.9m) | ($56.8m) | ($40.4m) | |
| Cash paid for taxes, net of refunds | ($1.3m) | ($5.6m) | $7.1m | ($383k) | ($3.6m) | ($10.1m) | ($9.7m) | ($35.6m) | ($60.7m) | ($28.1m) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.