Blackbaud, Inc. BLKB Income Statement

Blackbaud, inc. (BLKB)

Income statement / TTM

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
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,198	17,832	16,363	20,551	21,029	21,516	22,092	19,475	21,110	21,228	23,103	23,719	23,128	23,857	0	0	0
Subscriptions
-	-	-	-	-	-	-	-	-	-	-	-	-	428,987	404,666	380,127	356,097	331,759	306,562	292,704	277,680	263,435	251,198	236,189	223,168	212,656	200,457	195,837	181,796	162,102	141,050	119,727	107,689	103,544	99,008	94,152	88,653	83,912	79,987	76,525	0	0	0
Maintenance
-	-	-	-	-	-	-	-	-	-	-	-	-	146,946	149,088	150,887	152,065	153,801	154,150	152,762	150,662	147,418	144,753	142,654	140,249	138,745	137,148	136,925	136,683	136,101	135,208	133,607	132,337	130,604	128,930	127,448	125,795	124,559	122,712	120,117	0	0	0
License fees and other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,683	21,778	23,903	25,197	36,631	33,596	29,539	25,868	9,161	8,936	8,988	9,039	9,050	9,286	9,068	8,464	7,592	7,238	6,850	6,712	5,729	5,773	0	0	0
Revenue
908,214	900,423	883,802	872,214	860,252	848,606	844,790	829,682	807,599	788,487	769,390	758,029	746,631	730,815	708,387	684,135	660,203	637,940	614,876	600,663	583,792	564,421	546,480	529,736	515,816	503,817	488,996	483,614	468,336	447,419	422,413	395,354	378,946	370,868	362,252	350,065	336,954	326,565	319,341	312,530	0	0	0
Cost of revenue
Cost of license fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,691	2,927	3,105	2,993	2,897	2,997	3,238	3,345	3,395	3,193	3,106	3,003	3,205	3,560	0	0	0
Cost of subscriptions
-	-	-	-	-	-	-	-	-	-	-	-	-	213,883	206,050	193,592	180,829	167,341	153,154	146,926	139,275	133,221	125,309	113,534	103,390	93,649	83,092	81,226	76,182	68,773	61,427	52,436	46,348	42,536	38,623	35,948	33,091	31,155	30,254	29,342	0	0	0
Cost of maintenance
-	-	-	-	-	-	-	-	-	-	-	-	-	22,094	22,434	23,611	24,882	27,066	29,083	28,522	27,536	25,448	24,197	24,703	25,281	25,741	26,145	26,281	25,898	26,001	25,315	25,047	24,904	25,178	24,925	24,714	24,604	24,123	23,503	22,625	0	0	0
Cost of license fees and other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,729	7,617	7,895	8,263	9,990	9,723	9,600	9,268	6,677	6,868	7,213	7,485	7,468	7,619	7,384	7,049	7,525	7,198	7,120	7,103	5,156	5,308	0	0	0
Cost of revenue
424,006	418,424	405,183	398,623	392,988	381,742	380,868	372,636	364,459	361,904	351,884	348,196	344,813	339,220	332,034	322,890	312,708	304,631	296,679	290,654	281,920	273,438	262,532	250,498	242,415	232,663	222,057	221,071	214,963	202,460	188,782	173,345	162,128	157,194	151,652	145,236	137,634	132,139	126,148	123,369	0	0	0
Gross profit
484,208	481,999	478,619	473,591	467,264	466,864	463,922	457,046	443,140	426,583	417,506	409,833	401,818	391,595	376,353	361,245	347,495	333,309	318,197	310,009	301,872	290,983	283,948	279,238	273,401	271,154	266,939	262,543	253,373	244,959	233,631	222,009	216,818	213,674	210,600	204,829	199,320	194,426	193,193	189,161	0	0	0
Operating expenses
Sales, marketing and customer success
227,432	224,152	215,764	209,342	202,826	192,848	186,383	179,952	174,039	169,559	166,270	164,314	161,142	155,754	149,929	140,378	130,693	123,646	118,137	114,096	110,806	107,360	103,613	100,348	98,338	97,614	96,987	99,433	99,233	95,218	89,159	81,625	76,460	75,361	74,151	72,359	72,324	69,469	68,177	66,296	0	0	0
Research and development
102,680	106,164	103,642	101,919	101,314	98,811	97,737	95,590	93,163	89,911	89,544	89,983	89,861	89,870	90,606	88,657	86,075	84,636	84,917	84,063	81,961	77,179	70,451	67,291	65,710	65,645	66,786	69,444	67,817	64,692	59,825	52,339	49,010	47,672	46,316	46,373	46,556	45,499	45,784	45,309	0	0	0
General and administrative
112,152	113,414	112,519	108,516	108,420	106,354	105,912	104,563	97,998	94,870	86,592	85,366	83,575	81,331	84,929	81,056	78,920	76,084	69,403	66,476	62,302	58,277	54,219	51,328	50,396	50,320	50,113	52,470	61,374	63,133	60,819	54,809	42,232	36,933	36,790	35,716	33,441	32,636	30,619	31,231	0	0	0
Amortization
4,681	5,316	4,368	4,902	4,951	4,844	4,814	4,311	3,849	3,271	2,857	2,810	2,779	2,840	2,842	2,679	2,495	2,231	1,710	1,810	1,704	1,803	2,240	2,230	2,448	2,539	2,617	2,693	2,587	2,106	1,669	1,228	944	980	939	885	835	798	781	778	0	0	0
Restructuring
3,879	5,808	4,088	2,774	5,732	4,590	4,379	5,293	1,605	794	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	3,494	3,641	3,531	3,385	175	0	0	0	-	-	-	-	-	-	-	-	-	-
Impairment of cost method investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-
Total operating expenses
450,824	454,854	440,381	427,453	423,243	407,447	399,225	389,709	370,654	358,405	345,263	342,473	337,357	329,795	328,306	312,770	298,183	286,597	274,167	266,445	256,773	244,619	230,551	221,335	217,176	219,612	220,144	227,571	234,596	225,524	213,472	192,001	170,446	162,746	158,196	155,333	153,156	148,402	145,361	143,614	0	0	0
Income from operations
33,384	27,145	38,238	46,138	44,021	59,417	64,697	67,337	72,486	68,178	72,243	67,360	64,461	61,800	48,047	48,475	49,312	46,712	44,030	43,564	45,099	46,364	53,397	57,903	56,225	51,542	46,795	34,972	18,777	19,435	20,159	30,008	46,372	50,928	52,404	49,496	46,164	46,024	47,832	45,547	0	0	0
Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	81	103	116	146	168	185	197	183	153	119	97	84	96	112	0	0	0
Interest expense
19,454	20,618	20,171	19,200	17,704	15,898	15,372	14,324	13,237	12,097	11,231	10,780	10,285	10,583	10,735	9,910	9,062	8,073	7,327	6,783	6,238	6,011	5,292	5,414	5,583	5,818	6,820	7,402	7,367	5,864	3,686	1,769	367	200	47	33	52	74	351	576	0	0	0
Other income, net
4,946	4,058	5,265	2,960	1,125	1,103	1,038	1,653	2,134	2,260	1,475	992	100	-291	-503	-296	-1,505	-1,687	-2,506	-2,669	-1,170	-1,119	-31	-200	-734	-395	-672	-150	19	-392	102	-387	-31	346	209	369	-32	-98	97	75	0	0	0
Loss on sale of business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt extinguishment and termination of derivative instruments (see Notes 8 and 9)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) before provision for income taxes
18,876	10,585	23,332	29,898	27,442	44,622	50,363	54,666	61,383	58,341	62,487	57,572	54,276	50,926	36,809	38,269	38,745	36,952	35,147	35,079	38,671	39,234	47,071	51,285	48,911	45,329	39,384	27,523	11,545	13,325	16,743	28,037	46,171	51,257	52,719	49,951	46,177	45,936	47,674	45,158	0	0	0
Income tax provision (benefit)
1,207	-1,323	3,414	3,382	1,474	-219	-21,782	-19,139	-16,859	-15,292	8,208	7,183	5,856	9,411	6,167	8,650	11,144	11,303	11,093	8,556	9,910	10,944	11,807	17,008	17,291	14,857	17,432	12,139	5,055	6,742	7,079	10,984	17,485	18,037	17,924	16,851	15,649	16,749	16,585	16,000	0	0	0
Net Income (Loss) Attributable to Parent
17,669	11,908	19,918	26,516	25,968	44,841	72,145	73,805	78,242	73,633	54,279	50,389	48,420	41,515	30,642	29,619	27,601	25,649	24,054	26,523	28,761	28,290	35,264	34,277	31,620	30,472	21,952	15,384	6,490	6,583	9,664	17,053	28,686	33,220	34,795	33,100	30,528	29,187	31,089	29,158	0	0	0
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
-7,677	2,641	-9,206	-4,266	-7,065	-5,218	-1,817	-2,972	5,496	-789	-242	155	73	324	677	556	791	62	-31	-431	-620	261	-122	204	323	53	91	-126	-28	-34	-244	-394	-313	-336	0	0	0	-	-	-	-	-	-
Unrealized loss on derivative instruments, net of tax
-5,011	-2,821	-5,061	-4,132	-1,428	583	3,250	2,417	1,648	751	333	1,009	895	44	401	-270	-55	145	-928	-198	-689	92	470	-95	728	535	543	321	-672	-791	-883	-564	0	-	0	0	-	-	-	-	-	-	-
Total other comprehensive (loss) income
-12,688	-180	-14,267	-8,398	-8,493	-4,635	1,433	-555	7,144	-38	91	1,164	968	368	1,078	286	736	207	-959	-629	-1,309	353	348	109	1,051	588	634	195	-700	-825	-1,168	-813	0	-	0	0	-	-	-	-	-	-	-
Comprehensive (loss) income
4,981	11,728	5,651	18,118	17,475	40,206	73,578	73,250	85,386	73,595	54,370	51,553	49,388	41,883	31,720	29,905	28,337	25,856	23,095	25,894	27,452	28,643	35,612	34,386	32,671	31,060	22,586	15,579	5,790	5,758	8,537	16,095	28,373	32,884	0	0	0	-	-	-	-	-	-
Recurring [Member]
Revenue
838,382	831,609	811,719	795,148	779,429	762,181	752,892	731,742	705,382	684,583	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of revenue
362,828	357,988	342,530	331,420	321,113	305,481	302,803	293,015	282,843	277,639	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
One-time services and other [Member]
Revenue
69,832	68,814	72,083	77,066	80,823	86,425	91,898	97,940	102,217	103,904	116,864	131,159	144,662	154,882	166,663	161,355	156,319	152,380	133,481	133,419	131,547	128,371	126,699	126,267	125,840	126,548	125,032	124,084	124,506	119,626	116,076	111,218	107,760	108,781	105,612	99,999	92,553	87,663	87,785	86,258	0	0	0
Cost of revenue
61,178	60,436	62,653	67,203	71,875	76,261	78,065	79,621	81,616	84,265	89,426	95,011	99,945	103,243	107,602	107,994	108,158	110,224	106,713	107,589	107,214	106,506	104,896	103,906	104,869	104,005	103,452	103,769	102,565	97,208	91,675	85,246	80,254	79,086	77,184	74,183	69,713	66,755	64,030	62,534	0	0	0