Summary
In the third quarter of fiscal year 2012, Blackbaud, Inc. noted a significant increase in cash used for investing activities, primarily due to its acquisition of Convio in May 2012. This acquisition necessitated further investment in computer equipment and software, pushing expenditures in this area to $15.4 million by the end of September. The company plans to continue this level of capital investment, guiding to a full-year range between $20.0 million and $25.0 million.
To facilitate the acquisition, Blackbaud tapped into its credit facility for $315 million, from which it has repaid $70 million so far. The company maintained its dividend payments at a consistent $16.2 million, aligning with last year's figures. This stable dividend practice aligns with the management's declared annual rate of $0.48 per share, totaling an anticipated $21.1 million for the year, contingent on 44 million shares outstanding.
Operationally, the company reported significant future commitments totaling $341.7 million. These commitments include $86.5 million in operating lease obligations and $255.2 million in debt and interest payments, with the majority of the latter scheduled for repayment within three to five years. Despite these obligations, Blackbaud holds the flexibility to extend its debt maturities under its credit arrangements if necessary.
No specific new risk factors were highlighted in this quarter's documents, and the absence of significant new risks may suggest stability in Blackbaud's existing operational environment. However, with its substantial debt and consistent capital expenditures, the company's financial strategy seems heavily geared towards expansion and integration of newly acquired assets like Convio.
Despite the lack of available earnings press release or supplementary exhibits for this quarter, it can be inferred from the strategic financial maneuvers and planned expenditures that Blackbaud is focusing on strengthening its infrastructure and operational capacity to support its subscription-based offerings. As the fiscal year progresses, attention will likely remain on the company's ability to manage and fulfill these commitments without overstretching its financial flexibility.
Forecast
Reported figures
GAAP, from SEC filings| Metric | Q3 FY2012 | Q2 FY2012 | QoQ | Q3 FY2011 | YoY |
|---|---|---|---|---|---|
| Revenue | $122.5M | $110.2M | +11.1% | $95.5M | +28.2% |
| Gross profit | $67.3M | $59.7M | +12.8% | $55.9M | +20.6% |
| Gross margin | 55.0% | 54.2% | +0.8 pp | 58.5% | -3.5 pp |
| Research & development | $19.2M | $14.9M | +29.3% | $12.2M | +57.1% |
| Sales & marketing | $26.3M | $24.2M | +8.5% | $18.7M | +40.3% |
| General & administrative | $15.0M | $21.8M | -31.1% | $9.0M | +67.0% |
| Total operating expenses | $61.2M | $61.6M | -0.7% | $40.2M | +52.2% |
| Operating income (loss) | $6.2M | -$1.9M | +429.5% | $15.7M | -60.6% |
| Operating margin | 5.0% | -1.7% | +6.8 pp | 16.4% | -11.4 pp |
| Net income (loss) | $2.8M | -$2.3M | +224.4% | $9.8M | -71.1% |
| Net margin | 2.3% | -2.1% | +4.4 pp | 10.2% | -7.9 pp |
| Diluted EPS | $0.06 | -$0.05 | +$0.11 | $0.22 | -$0.16 |
Summary, forecast, risks and KPIs are extracted from BLACKBAUD INC's SEC filings for Q3 FY2012 (10-Q / 10-K and the 8-K earnings release); GAAP figures in the summary are checked against the reported XBRL data. They can contain errors; the filings are authoritative. Processed Aug 4, 2026.