(Logo Courtesy of Blackbaud)
Charleston, South Carolina-based Blackbaud (NASDAQ: BLKB), a leading provider of software for powering social impact, announced its board of directors has reauthorized, expanded and replenished the company's existing stock repurchase program, raising the total capacity from $800 million to $1 billion available for repurchases of the company's common stock.
"We believe there is no better use of capital at this time than repurchasing shares at this valuation to improve shareholder value," said Mike Gianoni, president, CEO and vice chairman of the Blackbaud board of directors. "Since instituting our current stock repurchase program in the fourth quarter of 2023, we have reduced our common stock outstanding by more than 10 percent.”
Gianoni added, “We expect stock repurchase to remain a key component of our long-term capital allocation strategy as we look to deliver consistent mid-single-digit organic revenue growth and double-digit non-GAAP EPS growth moving forward."
Under the program, the company may repurchase shares of its common stock in the open market, through private transactions, or otherwise.
Officials said any net share settlement of employee stock compensation is incremental to this program.
During 2025, prior to the replenishment on Dec. 1, 2025, Blackbaud repurchased an aggregate of 2,707,953 shares for $174.5 million.
Including net share settlement of employee stock compensation, these repurchases represent approximately 6.7 percent of the company's outstanding common stock as of Dec. 31, 2024.
Based on current market valuations, Blackbaud has increased its fiscal year 2025 expected stock repurchase range to between 7.0 percent and 8.5 percent of its outstanding common stock as of Dec. 31, 2024.
As of Dec. 1, 2025, the remaining amount available to purchase stock under the company's repurchase program was $1 billion.
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