Blackbaud Announces Major Expansion of Its Stock Repurchase Program
$1 Billion Stock Repurchase Program and Increased Stock Repurchase Expectations for Future Growth
Blackbaud (NASDAQ: BLKB), recognized as a premier software provider for social impact, has made an important announcement regarding its stock repurchase initiative. In a strategic move, the board of directors has authorized the expansion and replenishment of the stock repurchase program, elevating the capacity from $800 million to a significant $1 billion. This bold decision reflects the company's commitment to enhancing shareholder value.
Mike Gianoni, the president and CEO of Blackbaud, articulated the company's stance on capital use. He stated, "We believe there is no better use of capital at this time than repurchasing shares at this valuation to improve shareholder value." Under the current program established in the fourth quarter of 2023, Blackbaud has successfully decreased its outstanding common stock by over 10%. Looking forward, the company anticipates stock repurchases will be a cornerstone of its long-term capital allocation strategy.
The repurchase initiative permits the company to acquire its common stock through open market transactions, private agreements, or other means. Any net share settlements related to employee stock compensation will be additional to this program. During 2025, prior to the recent replenishment, Blackbaud has already repurchased a total of 2,707,953 shares for $174.5 million. This figure translates to about 6.7% of the outstanding common stock as of December 31, 2024.
With a consistent focus on shareholder returns, the company has revised its stock repurchase expectations for fiscal year 2025, now projecting repurchase activity between 7.0% and 8.5% of the common stock by the end of 2025. Following the replenishment on December 1, 2025, Blackbaud has $1 billion remaining available for stock purchases under its repurchase plan.
For those interested in more detailed insights surrounding the stock repurchase program, full details can be accessed in the company's Form 8-K, filed with the Securities and Exchange Commission (SEC).
About Blackbaud
Blackbaud stands out as the preeminent software company dedicated to fostering social impact designed for the nonprofit and education sectors. The company's solutions are instrumental in driving progress in areas such as fundraising, financial management for nonprofits, digital giving, grantmaking, and corporate social responsibility. With millions of users globally and more than $100 billion raised or managed through its distinctive platforms each year, Blackbaud is committed to unleashing the potential of individuals and organizations striving to create positive change.
Proud of its accolades, Blackbaud has earned recognition on reputable lists, such as Newsweek's Most Responsible Companies and Forbes' Best Employers. As a remote-first organization, Blackbaud operates across multiple regions, including the United States, Australia, Canada, and the United Kingdom, reaching users in more than 100 countries.
Frequently Asked Questions
What is the total capacity of Blackbaud's stock repurchase program?
The stock repurchase program has been expanded to a total capacity of $1 billion.
How much stock has Blackbaud repurchased in 2025 prior to the replenishment?
Before the replenishment in December 2025, Blackbaud repurchased approximately 2,707,953 shares for $174.5 million.
What percentage of Blackbaud's outstanding common stock has been repurchased?
The repurchases represent around 6.7% of the company’s outstanding common stock as of December 31, 2024.
What are Blackbaud's projections for stock repurchases in 2025?
Blackbaud anticipates stock repurchases will range between 7.0% and 8.5% of its outstanding common stock for fiscal year 2025.
Where can I obtain more information about Blackbaud?
Additional information can be found on the Blackbaud website or by accessing their SEC filings.
