Blackbaud Announces First Quarter 2015 Results
Blackbaud recently announced financial results for its first quarter ended March 31. The company reported total revenue growth of 15.2 percent to $147 million and total subscriptions revenue growth of 24.4 percent to $72.5 million. It also reported non-GAAP organic revenue growth of 8.5 percent.
"We are very pleased with the strong start to the year in both revenue and profitability," said Mike Gianoni, president and CEO of Blackbaud. " Our recurring revenue has continued to grow in line with our strategy, and exceeded 75 percent of total revenue for the first time in our history. In addition, we continued solid execution on our key programs within our five growth and operational improvement strategies."
He continued, "Our organic growth and improved non-GAAP operating margin are additional steps toward our long term aspirational goals. We remain committed to achieving the 2015 revenue, profit and cash flow guidance that we provided earlier this year."