Is Blackbaud profitable in 2026?

Yes. Blackbaud reported FY2025 revenue of $1.128B with 5.5% organic growth and a 38.5% adjusted EBITDA margin in Q2 2025, and issued 2026 guidance of $1.173-1.179B revenue with non-GAAP EPS of $5.15-5.25, per its Feb 10, 2026 results release.

Why has Blackbaud stock crashed in 2026?

BLKB stock fell about 65% from its all-time high of $120.35, trading in a $25.58-$74.88 52-week range as of July 22, 2026, amid slowing organic growth, analyst target cuts like Stifel's $45 to $30 on July 10, 2026, and unproven AI monetization.

Could AI replace Blackbaud's software?

Unlikely soon. Blackbaud is embedding AI (70+ features, Agents for Good suite, Anthropic partnership) into its own system-of-record platform rather than being displaced, though generic AI chat tools could pressure low-end admin and CRM tasks at the margins, per its 2026 earnings commentary.

Who is Blackbaud's biggest competitor?

Bloomerang and DonorPerfect compete at the low end of nonprofit CRM, with Bloomerang scoring 94 user-sentiment versus Blackbaud CRM's 74 on SelectHub as of March 9, 2026, while Salesforce's Nonprofit Success Pack looms as the adjacent high-end threat.

Did Blackbaud have a data breach and is it still a risk?

Yes. Blackbaud is under a 20-year FTC compliance regime with biennial security assessments following a May 2024 settlement tied to its 2020 breach, meaning any new security incident would trigger fresh regulatory scrutiny and reputational damage.

What is Blackbaud doing with AI in 2026?

Blackbaud launched 70+ embedded AI capabilities and an 'Agents for Good' suite at bbcon 2025, added a K-12 Admissions Agent on July 22, 2026 ahead of bbcon 2026 (Sept 29-Oct 1, Columbus OH), and partnered with Anthropic, per its own newsroom announcements.

Education companies · United States

Blackbaud

blackbaud.com ↗

Blackbaud makes system-of-record software nonprofits and K-12 schools run donations, admissions, and admin on.

Defensible for now

Assessed 22 July 2026 · Evidence as of 22 July 2026

Real protection, with named pressure against it.

On the recordSince 22 July 2026 · Checkable from Jul 29 - Oct 1, 2026 · Every call on the record Checkpoint: Q2 2026 earnings call and bbcon 2026 AI Agents rollout (Columbus, OH)

The call

Blackbaud keeps growing modestly on lock-in while the market prices in doubt, and the next earnings call and AI product rollout will show whether that gap closes.

Blackbaud sells record-keeping software to nonprofits, schools, and health systems that handle donations, student data, and fundraising. It is hard to replace because customers have spent years entering data and training staff on Blackbaud's system, so switching to a rival like Salesforce or Bloomerang costs time and money. The real risk is that newer, AI-powered competitors could eventually offer easier setup and smarter features, plus any new security breach would be devastating because Blackbaud promised the government in 2024 it would fix its data protection problems.

Why

AI pressure: AI-native CRM entrants and Salesforce Nonprofit Success Pack. AI lowers the cost of building simple donor/admissions tools, letting Bloomerang and DonorPerfect chip at the low end while Blackbaud bolts AI onto old workflows. Could AI do the core job? Only partly.

Bigger players: Salesforce (Nonprofit Success Pack). Salesforce already sells a nonprofit CRM layer on its own cloud; it hasn't pushed hard on price or packaging into Blackbaud's mid-market yet. Could a giant copy it? Probably.

What protects it. Deep workflow lock-in and compliance data tied to fundraising, grants, and school admissions that are painful to migrate off.

What would change this call

Blackbaud's Q2 2026 earnings (July 29, 2026) show organic growth below 3% YoY. Would show low-end erosion to rivals like Bloomerang or DonorPerfect is climbing up-market.
Any new data breach disclosure under Blackbaud's 20-year FTC compliance order. Would show security trust, a core moat pillar, has failed again after the 2020 incident.
bbcon 2026 (Sept 29-Oct 1) reveals Agents for Good attach/revenue data in earnings calls. Would show whether AI upsell is widening the moat or merely holding customers in place.

Key numbers

FY2025 revenue $1.128B, +5.5% organic (2026-04-21)
Stock down 65% from all-time high $120.35 (2026-07-22)
Bloomerang user score 94 vs Blackbaud CRM 74 (2026-03-09)

Named risks

New data security incident under active 20-year FTC compliance regime. Severity: high
Stock down 65% from all-time high with critical Q2 2026 earnings July 29, 2026. Severity: high
Low-end CRM erosion to Bloomerang and similar point solutions with higher user satisfaction. Severity: medium
Organic growth slowing to 4.2% YoY in Q1 2026 from 6.8% in Q2 2025. Severity: medium
Unproven AI monetization; Agents for Good revenue attach not yet confirmed. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
Bloomerang	losing to	Bloomerang 94 user-sentiment score vs Blackbaud CRM's 74 on SelectHub, Mar 9 2026
Salesforce	contesting	Nonprofit Success Pack stays adjacent to Blackbaud's core segment without full displacement as of 2026
DonorPerfect	contesting	Cited among low-end CRM alternatives winning smaller nonprofit accounts, 2026
Neon CRM	contesting	Listed as AI-native style alternative competing at mid-market, 2026

Questions people ask

Is Blackbaud profitable in 2026?: Yes. Blackbaud reported FY2025 revenue of $1.128B with 5.5% organic growth and a 38.5% adjusted EBITDA margin in Q2 2025, and issued 2026 guidance of $1.173-1.179B revenue with non-GAAP EPS of $5.15-5.25, per its Feb 10, 2026 results release.
Why has Blackbaud stock crashed in 2026?: BLKB stock fell about 65% from its all-time high of $120.35, trading in a $25.58-$74.88 52-week range as of July 22, 2026, amid slowing organic growth, analyst target cuts like Stifel's $45 to $30 on July 10, 2026, and unproven AI monetization.
Could AI replace Blackbaud's software?: Unlikely soon. Blackbaud is embedding AI (70+ features, Agents for Good suite, Anthropic partnership) into its own system-of-record platform rather than being displaced, though generic AI chat tools could pressure low-end admin and CRM tasks at the margins, per its 2026 earnings commentary.
Who is Blackbaud's biggest competitor?: Bloomerang and DonorPerfect compete at the low end of nonprofit CRM, with Bloomerang scoring 94 user-sentiment versus Blackbaud CRM's 74 on SelectHub as of March 9, 2026, while Salesforce's Nonprofit Success Pack looms as the adjacent high-end threat.
Did Blackbaud have a data breach and is it still a risk?: Yes. Blackbaud is under a 20-year FTC compliance regime with biennial security assessments following a May 2024 settlement tied to its 2020 breach, meaning any new security incident would trigger fresh regulatory scrutiny and reputational damage.
What is Blackbaud doing with AI in 2026?: Blackbaud launched 70+ embedded AI capabilities and an 'Agents for Good' suite at bbcon 2025, added a K-12 Admissions Agent on July 22, 2026 ahead of bbcon 2026 (Sept 29-Oct 1, Columbus OH), and partnered with Anthropic, per its own newsroom announcements.

Timeline

2026-07-22Announces K-12 Admissions Agent ahead of bbcon 2026, stock near 52-week low
2026-07-10Stifel Nicolaus cuts price target from $45 to $30
2026-05-29Q1 2026 results: $281.14M revenue, +4.2% YoY, EPS $1.14
2026-04-30Baird upgrades stock to outperform with lowered target
2026-04-21FY2025 results reported: $1.128B revenue, 5.5% organic growth
2026-03-17Unveils 70+ embedded AI features and Agents for Good suite at bbcon 2025
2026-02-10Issues 2026 guidance of $1.173-1.179B revenue, announces Anthropic partnership
2024-12-31Divests EVERFI for nominal sum after ~$750M acquisition in 2022
2024-05-20FTC finalizes 20-year compliance settlement over 2020 data breach

Revision history

22 July 2026

First assessed. Defensible for now. The text above is fixed as of this date and is not edited afterwards.

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