Blackbaud, Inc. BLKB Income Statement

Blackbaud, inc. (BLKB)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenue
License fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,831	5,990	2,980	4,397	4,465	4,521	7,168	4,875	4,952	5,097	4,551	6,510	5,070	6,972	5,167	5,919	5,799
Subscriptions
-	-	-	-	-	-	-	-	-	-	-	-	-	122,657	105,440	104,039	96,851	98,336	80,901	80,009	72,513	73,139	67,043	64,985	58,268	60,902	52,034	51,964	47,756	48,703	47,414	37,923	28,062	27,651	26,091	25,885	23,917	23,115	21,235	20,386	19,176	19,190	17,773
Maintenance
-	-	-	-	-	-	-	-	-	-	-	-	-	35,927	36,410	37,449	37,160	38,069	38,209	38,627	38,896	38,418	36,821	36,527	35,652	35,753	34,722	34,122	34,148	34,156	34,499	33,880	33,566	33,263	32,898	32,610	31,833	31,589	31,416	30,957	30,597	29,742	28,821
License fees and other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,796	3,956	4,278	8,653	4,891	6,081	5,572	20,087	1,856	2,024	1,901	3,380	1,631	2,076	1,952	3,391	1,867	1,858	1,348	2,519	1,513	1,470	1,210	1,536	1,557
Revenue
223,621	237,839	221,120	225,634	215,830	221,218	209,532	213,672	204,184	217,402	194,424	191,589	185,072	198,305	183,063	180,191	169,256	175,877	158,811	156,259	146,993	152,813	144,598	139,388	127,622	134,872	127,854	125,468	115,623	120,051	122,472	110,190	94,706	95,045	95,413	93,782	86,628	86,429	83,226	80,671	76,239	79,205	76,415
Cost of revenue
Cost of license fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	492	643	725	831	728	821	613	735	828	1,062	720	785	626	975	617	987	981
Cost of subscriptions
-	-	-	-	-	-	-	-	-	-	-	-	-	60,111	51,943	52,163	49,666	52,278	39,485	39,400	36,178	38,091	33,257	31,749	30,124	30,179	21,482	21,605	20,383	19,622	19,616	16,561	12,974	12,276	10,625	10,473	9,162	8,363	7,950	7,616	7,226	7,462	7,038
Cost of maintenance
-	-	-	-	-	-	-	-	-	-	-	-	-	5,547	5,531	5,698	5,318	5,887	6,708	6,969	7,502	7,904	6,147	5,983	5,414	6,653	6,653	6,561	5,874	7,057	6,789	6,178	5,977	6,371	6,521	6,035	6,251	6,118	6,310	5,925	5,770	5,498	5,432
Cost of license fees and other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,745	1,146	1,161	3,677	1,633	1,424	1,529	5,404	1,366	1,301	1,197	2,813	1,557	1,646	1,469	2,796	1,708	1,411	1,134	3,272	1,381	1,333	1,117	1,325	1,533
Cost of revenue
104,865	116,537	101,797	100,807	99,283	103,296	95,237	95,172	88,037	102,422	87,005	86,995	85,482	92,402	83,317	83,612	79,889	85,216	74,173	73,430	71,812	77,264	68,148	64,696	63,330	66,358	56,114	56,613	53,578	55,752	55,128	50,505	41,075	42,074	39,691	39,288	36,141	36,532	33,275	31,686	30,646	30,541	30,496
Gross profit
118,756	121,302	119,323	124,827	116,547	117,922	114,295	118,500	116,147	114,980	107,419	104,594	99,590	105,903	99,746	96,579	89,367	90,661	84,638	82,829	75,181	75,549	76,450	74,692	64,292	68,514	71,740	68,855	62,045	64,299	67,344	59,685	53,631	52,971	55,722	54,494	50,487	49,897	49,951	48,985	45,593	48,664	45,919
Operating expenses
Sales, marketing and customer success
58,735	58,189	55,499	55,009	55,455	49,801	49,077	48,493	45,477	43,336	42,646	42,580	40,997	40,047	40,690	39,408	35,609	34,222	31,139	29,723	28,562	28,713	27,098	26,433	25,116	24,966	23,833	24,423	24,392	24,339	26,279	24,223	20,377	18,280	18,745	19,058	19,278	17,070	16,953	19,023	16,423	15,778	15,072
Research and development
24,977	25,860	25,941	25,902	28,461	23,338	24,218	25,297	25,958	22,264	22,071	22,870	22,706	21,897	22,510	22,748	22,715	22,633	20,561	20,166	21,276	22,914	19,707	18,064	16,494	16,186	16,547	16,483	16,429	17,327	19,205	14,856	13,304	12,460	11,719	11,527	11,966	11,104	11,776	11,710	10,909	11,389	11,301
General and administrative
25,855	28,857	28,897	28,543	27,117	27,962	24,894	28,447	25,051	27,520	23,545	21,882	21,923	19,242	22,319	20,091	19,679	22,840	18,446	17,955	16,843	16,159	15,519	13,781	12,818	12,101	12,628	12,849	12,742	11,894	14,985	21,753	14,501	9,580	8,975	9,176	9,202	9,437	7,901	6,901	8,397	7,420	8,513
Amortization
741	2,085	703	1,152	1,376	1,137	1,237	1,201	1,269	1,107	734	739	691	693	687	708	752	695	524	524	488	174	624	418	587	611	614	636	678	689	690	530	197	252	249	246	233	211	195	196	196	194	192
Restructuring
24	2,725	400	730	1,953	1,005	-914	3,688	811	794	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	28	110	146	3,210	175	0	0	0	-	-	-	-	-	-	-	-	-	-
Impairment of cost method investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	200	-	-	0	0	-	-	-	-	-	-	-
Total operating expenses
110,332	117,716	111,440	111,336	114,362	103,243	98,512	107,126	98,566	95,021	88,996	88,071	86,317	81,879	86,206	82,955	78,755	80,390	70,670	68,368	67,169	67,960	62,948	58,696	55,015	53,892	53,732	54,537	57,451	54,424	61,159	61,562	48,379	42,372	39,688	40,007	40,679	37,822	36,825	37,830	35,925	34,781	35,078
Income from operations
8,424	3,586	7,883	13,491	2,185	14,679	15,783	11,374	17,581	19,959	18,423	16,523	13,273	24,024	13,540	13,624	10,612	10,271	13,968	14,461	8,012	7,589	13,502	15,996	9,277	14,622	18,008	14,318	4,594	9,875	6,185	-1,877	5,252	10,599	16,034	14,487	9,808	12,075	13,126	11,155	9,668	13,883	10,841
Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17	13	16	-	16	20	17	28	38	33	47	50	55	45	33	20	21	23	20	32	37
Interest expense
4,159	4,385	5,111	5,799	5,323	3,938	4,140	4,303	3,517	3,412	3,092	3,216	2,377	2,546	2,641	2,721	2,675	2,698	1,816	1,873	1,686	1,952	1,272	1,328	1,459	1,233	1,394	1,497	1,694	2,235	1,976	1,462	191	57	59	60	24	-96	45	79	46	181	270
Other income, net
1,070	-463	2,158	2,181	182	744	-147	346	160	679	468	827	286	-106	-15	-65	-105	-318	192	-1,274	-287	-1,137	29	225	-236	-49	-140	-309	103	-326	382	-140	-308	168	-107	216	69	31	53	-185	3	226	31
Loss on sale of business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt extinguishment and termination of derivative instruments (see Notes 8 and 9)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-996	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) before provision for income taxes
5,335	-1,262	4,930	9,873	-2,956	11,485	11,496	7,417	14,224	17,226	15,799	14,134	11,182	21,372	10,884	10,838	7,832	7,255	12,344	11,314	6,039	5,450	12,276	14,906	6,602	13,287	16,490	12,532	3,020	7,342	4,629	-3,446	4,800	10,760	15,923	14,688	9,886	12,222	13,155	10,914	9,645	13,960	10,639
Income tax provision (benefit)
696	-2,586	364	2,733	-1,834	2,151	332	825	-3,527	-19,412	2,975	3,105	-1,960	4,088	1,950	1,778	1,595	844	4,433	4,272	1,754	634	1,896	5,626	2,788	1,497	7,097	5,909	354	4,072	1,804	-1,175	2,041	4,409	5,709	5,326	2,593	4,296	4,636	4,124	3,693	4,132	4,051
Net Income (Loss) Attributable to Parent
4,639	1,324	4,566	7,140	-1,122	9,334	11,164	6,592	17,751	36,638	12,824	11,029	13,142	17,284	8,934	9,060	6,237	6,411	7,911	7,042	4,285	4,816	10,380	9,280	3,814	11,790	9,393	6,623	2,666	3,270	2,825	-2,271	2,759	6,351	10,214	9,362	7,293	7,926	8,519	6,790	5,952	9,828	6,588
Earnings Per Share [Abstract]
Basic earnings per share
0.10	0.02	0.10	0.15	-0.02	0.19	0.24	0.14	0.38	0.79	0.27	0.24	0.28	0.37	0.19	0.20	0.14	0.15	0.17	0.15	0.09	0.11	0.23	0.21	0.08	0.26	0.21	0.15	0.06	0.08	0.06	-0.05	0.06	0.14	0.23	0.22	0.17	0.18	0.20	0.16	0.14	0.23	0.15
Diluted earnings per share
0.10	0.03	0.09	0.15	-0.02	0.19	0.23	0.14	0.37	0.76	0.27	0.23	0.28	0.37	0.19	0.19	0.13	0.14	0.17	0.15	0.09	0.11	0.23	0.20	0.08	0.25	0.21	0.15	0.06	0.08	0.06	-0.05	0.06	0.14	0.23	0.21	0.17	0.19	0.20	0.15	0.13	0.22	0.15
Common shares and equivalents outstanding
Weighted Average Number of Shares Outstanding, Basic
48,036	47,792	47,757	47,714	47,516	47,304	47,279	47,222	47,019	46,801	46,711	46,662	46,501	46,318	46,159	46,083	45,967	45,769	45,616	45,579	45,529	45,380	45,196	45,155	45,127	44,991	44,735	44,538	44,473	44,351	44,172	44,112	43,944	43,742	43,548	43,447	43,352	43,137	42,747	43,260	43,435	42,781	42,577
Weighted Average Number of Shares Outstanding, Diluted
48,455	49,106	48,464	48,160	47,516	47,957	48,160	48,053	48,009	48,081	47,846	47,691	47,482	47,544	47,394	47,263	47,064	46,827	46,596	46,402	46,168	46,102	45,883	45,660	45,552	45,756	45,569	45,349	45,009	45,323	44,718	44,112	44,613	44,433	44,147	44,098	43,916	43,778	43,472	44,027	44,226	43,826	43,333
Dividends per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.11	0.11	0.11	0.11	0.10	0.10
Other comprehensive (loss) income
Foreign currency translation adjustment
-5,728	7,962	-3,893	-6,018	4,590	-3,885	1,047	-8,817	6,437	-484	-108	-349	152	63	289	-431	403	416	168	-196	-326	323	-232	-385	555	-60	94	-266	285	-22	-123	-168	279	-232	-273	-87	256	-	-	-	-	-	-
Unrealized loss on derivative instruments, net of tax
-3,122	413	-363	-1,939	-932	-1,827	566	765	1,079	840	-267	-4	182	422	409	-118	-669	779	-262	97	-469	-294	468	-394	312	84	-97	429	119	92	-319	-564	0	-	0	0	-	-	-	-	-	-	-
Total other comprehensive (loss) income
-8,850	8,375	-4,256	-7,957	3,658	-5,712	1,613	-8,052	7,516	356	-375	-353	334	485	698	-549	-266	1,195	-94	-99	-795	29	236	-779	867	24	-3	163	404	70	-442	-732	279	-	-273	-87	-	-	-	-	-	-	-
Comprehensive (loss) income
-4,211	9,699	310	-817	2,536	3,622	12,777	-1,460	25,267	36,994	12,449	10,676	13,476	17,769	9,632	8,511	5,971	7,606	7,817	6,943	3,490	4,845	10,616	8,501	4,681	11,814	9,390	6,786	3,070	3,340	2,383	-3,003	3,038	6,119	9,941	9,275	7,549	-	-	-	-	-	-
Recurring [Member]
Revenue
204,867	219,820	205,227	208,468	198,094	199,930	188,656	192,749	180,846	190,641	167,506	166,389	160,047	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of revenue
89,551	98,975	87,645	86,657	84,711	83,517	76,535	76,350	69,079	80,839	66,747	66,178	63,875	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
One-time services and other [Member]
Revenue
18,754	18,019	15,893	17,166	17,736	21,288	20,876	20,923	23,338	26,761	26,918	25,200	25,025	39,721	41,213	38,703	35,245	51,502	35,905	33,667	31,306	32,603	35,843	31,795	28,130	30,931	35,411	31,368	28,838	29,415	34,463	31,790	23,958	25,865	29,605	28,332	24,979	22,696	23,992	20,886	20,089	22,818	22,465
Cost of revenue
15,314	17,562	14,152	14,150	14,572	19,779	18,702	18,822	18,958	21,583	20,258	20,817	21,607	26,744	25,843	25,751	24,905	31,103	26,235	25,915	26,971	27,592	27,111	25,540	26,263	25,982	26,121	26,503	25,399	25,429	26,438	25,299	20,042	19,896	20,009	20,307	18,874	17,994	17,008	15,837	15,916	15,269	15,512