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10-Q Filing

BLACKBAUD INC CIK: 1280058 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001280058-17-000019
Period End Date 20170331
Filing Date 20170505
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance blkb-20170331.xml
Filing Contents
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $3.29M USD Point-in-time
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $3.33M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 20.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 20.00M shares Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $13.87M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $12.08M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $16.90M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $15.36M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Restricted cash due to customers RestrictedCashAndCashEquivalentsAtCarryingValue $353.77M USD Point-in-time
Restricted cash due to customers RestrictedCashAndCashEquivalentsAtCarryingValue $164.75M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Accounts receivable, net of allowance of $3,328 and $3,291 at March 31, 2017 and December 31, 2016, respectively AccountsReceivableNetCurrent $88.93M USD Point-in-time
Accounts receivable, net of allowance of $3,328 and $3,291 at March 31, 2017 and December 31, 2016, respectively AccountsReceivableNetCurrent $90.51M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 180.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 180.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 58.41M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 57.67M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $49.17M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $48.31M USD Point-in-time
Treasury stock, shares TreasuryStockShares 10.17M shares Point-in-time
Total current assets AssetsCurrent $507.92M USD Point-in-time
Total current assets AssetsCurrent $318.30M USD Point-in-time
Treasury stock, shares TreasuryStockShares 10.38M shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $50.27M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $47.20M USD Point-in-time
Software development costs, net CapitalizedComputerSoftwareNet $37.58M USD Point-in-time
Software development costs, net CapitalizedComputerSoftwareNet $41.14M USD Point-in-time
Goodwill Goodwill $438.24M USD Point-in-time
Goodwill Goodwill $438.31M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $253.68M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $243.26M USD Point-in-time
Other assets OtherAssetsNoncurrent $22.91M USD Point-in-time
Other assets OtherAssetsNoncurrent $22.52M USD Point-in-time
Total assets Assets $1.31B USD Point-in-time
Total assets Assets $1.11B USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $20.67M USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $23.27M USD Point-in-time
Accrued expenses and other current liabilities AccruedExpensesAndOtherCurrentLiabilities $54.20M USD Point-in-time
Accrued expenses and other current liabilities AccruedExpensesAndOtherCurrentLiabilities $39.07M USD Point-in-time
Due to customers DonationsPayableCurrent $164.75M USD Point-in-time
Due to customers DonationsPayableCurrent $353.77M USD Point-in-time
Debt, current portion LongTermDebtCurrent $4.38M USD Point-in-time
Debt, current portion LongTermDebtCurrent $4.38M USD Point-in-time
Deferred revenue, current portion DeferredRevenueCurrent $244.50M USD Point-in-time
Deferred revenue, current portion DeferredRevenueCurrent $237.10M USD Point-in-time
Total current liabilities LiabilitiesCurrent $465.96M USD Point-in-time
Total current liabilities LiabilitiesCurrent $680.12M USD Point-in-time
Debt, net of current portion LongTermDebtNoncurrent $338.02M USD Point-in-time
Debt, net of current portion LongTermDebtNoncurrent $352.00M USD Point-in-time
Deferred tax liability DeferredTaxLiabilitiesNoncurrent $29.56M USD Point-in-time
Deferred tax liability DeferredTaxLiabilitiesNoncurrent $29.64M USD Point-in-time
Deferred revenue, net of current portion DeferredRevenueNoncurrent $7.68M USD Point-in-time
Deferred revenue, net of current portion DeferredRevenueNoncurrent $6.44M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $8.53M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $7.80M USD Point-in-time
Total liabilities Liabilities $863.08M USD Point-in-time
Total liabilities Liabilities $1.06B USD Point-in-time
Commitments and contingencies (see Note 8) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (see Note 8) CommitmentsAndContingencies - USD Point-in-time
Preferred stock; 20,000,000 shares authorized, none outstanding PreferredStockValue - USD Point-in-time
Preferred stock; 20,000,000 shares authorized, none outstanding PreferredStockValue - USD Point-in-time
Common stock, $0.001 par value; 180,000,000 shares authorized, 58,410,419 and 57,672,401 shares issued at March 31, 2017 and December 31, 2016, respectively CommonStockValue $58.00K USD Point-in-time
Common stock, $0.001 par value; 180,000,000 shares authorized, 58,410,419 and 57,672,401 shares issued at March 31, 2017 and December 31, 2016, respectively CommonStockValue $58.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $319.73M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $310.45M USD Point-in-time
Treasury stock, at cost; 10,375,257 and 10,166,801 shares at March 31, 2017 and December 31, 2016, respectively TreasuryStockValue $215.24M USD Point-in-time
Treasury stock, at cost; 10,375,257 and 10,166,801 shares at March 31, 2017 and December 31, 2016, respectively TreasuryStockValue $230.06M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-175.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.09M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-457.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-825.00K USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $152.73M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $158.50M USD Point-in-time
Total stockholders' equity StockholdersEquity $247.54M USD Point-in-time
Total stockholders' equity StockholdersEquity $248.05M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $1.31B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $1.11B USD Point-in-time
Income Statement 59 line items
Line Item Tag Value Unit Period
Subscriptions SubscriptionRevenue $118.18M USD 1 Quarter
Subscriptions SubscriptionRevenue $96.85M USD 1 Quarter
Maintenance MaintenanceRevenue $37.16M USD 1 Quarter
Maintenance MaintenanceRevenue $33.78M USD 1 Quarter
Services and other TechnologyServicesRevenue $31.66M USD 1 Quarter
Services and other TechnologyServicesRevenue $35.24M USD 1 Quarter
Total revenue Revenues $183.62M USD 1 Quarter
Total revenue Revenues $169.26M USD 1 Quarter
Cost of subscriptions CostOfGoodsSoldSubscription $54.93M USD 1 Quarter
Cost of subscriptions CostOfGoodsSoldSubscription $49.67M USD 1 Quarter
Cost of maintenance MaintenanceCosts $5.32M USD 1 Quarter
Cost of maintenance MaintenanceCosts $5.98M USD 1 Quarter
Cost of services and other CostOfServices $24.91M USD 1 Quarter
Cost of services and other CostOfServices $24.57M USD 1 Quarter
Total cost of revenue CostOfRevenue $85.48M USD 1 Quarter
Total cost of revenue CostOfRevenue $79.89M USD 1 Quarter
Gross profit GrossProfit $89.37M USD 1 Quarter
Gross profit GrossProfit $98.14M USD 1 Quarter
Sales, marketing and customer success SellingAndMarketingExpense $42.24M USD 1 Quarter
Sales, marketing and customer success SellingAndMarketingExpense $35.61M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $22.71M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $22.71M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $19.68M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $21.92M USD 1 Quarter
Amortization AmortizationOfIntangibleAssets $752.00K USD 1 Quarter
Amortization AmortizationOfIntangibleAssets $691.00K USD 1 Quarter
Total operating expenses OperatingExpenses $87.56M USD 1 Quarter
Total operating expenses OperatingExpenses $78.75M USD 1 Quarter
Income from operations OperatingIncomeLoss $10.58M USD 1 Quarter
Income from operations OperatingIncomeLoss $10.61M USD 1 Quarter
Interest expense InterestExpense $2.38M USD 1 Quarter
Interest expense InterestExpense $2.67M USD 1 Quarter
Other income (expense), net NonoperatingIncomeExpenseExcludingInterestExpense $-105.00K USD 1 Quarter
Other income (expense), net NonoperatingIncomeExpenseExcludingInterestExpense $286.00K USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $7.83M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $8.49M USD 1 Quarter
Income tax (benefit) provision IncomeTaxExpenseBenefit $-3.02M USD 1 Quarter
Income tax (benefit) provision IncomeTaxExpenseBenefit $1.59M USD 1 Quarter
Net income NetIncomeLoss $6.24M USD 1 Quarter
Net income NetIncomeLoss $11.51M USD 1 Quarter
Basic earnings per share EarningsPerShareBasic $0.25 USD 1 Quarter
Basic earnings per share EarningsPerShareBasic $0.14 USD 1 Quarter
Diluted earnings per share EarningsPerShareDiluted $0.13 USD 1 Quarter
Diluted earnings per share EarningsPerShareDiluted $0.24 USD 1 Quarter
Basic weighted average shares WeightedAverageNumberOfSharesOutstandingBasic 45.97M shares 1 Quarter
Basic weighted average shares WeightedAverageNumberOfSharesOutstandingBasic 46.50M shares 1 Quarter
Diluted weighted average shares outstanding WeightedAverageNumberOfDilutedSharesOutstanding 47.48M shares 1 Quarter
Diluted weighted average shares outstanding WeightedAverageNumberOfDilutedSharesOutstanding 47.06M shares 1 Quarter
Dividends per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.12 USD 1 Quarter
Dividends per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.12 USD Point-in-time
Dividends per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.12 USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $100.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $403.00K USD 1 Quarter
Unrealized gain (loss) on derivative instruments, net of tax OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $-669.00K USD 1 Quarter
Unrealized gain (loss) on derivative instruments, net of tax OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $182.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $282.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-266.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $11.79M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $5.97M USD 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $6.24M USD 1 Quarter
Net income NetIncomeLoss $11.51M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $17.61M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $18.09M USD 1 Quarter
Provision for doubtful accounts and sales returns ProvisionForDoubtfulAccounts $1.02M USD 1 Quarter
Provision for doubtful accounts and sales returns ProvisionForDoubtfulAccounts $2.74M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $9.29M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $7.74M USD 1 Quarter
Deferred taxes DeferredIncomeTaxExpenseBenefit $626.00K USD 1 Quarter
Deferred taxes DeferredIncomeTaxExpenseBenefit $-50.00K USD 1 Quarter
Amortization of deferred financing costs and discount AmortizationOfFinancingCostsAndDiscounts $239.00K USD 1 Quarter
Amortization of deferred financing costs and discount AmortizationOfFinancingCostsAndDiscounts $239.00K USD 1 Quarter
Other non-cash adjustments OtherNoncashIncomeExpense $217.00K USD 1 Quarter
Other non-cash adjustments OtherNoncashIncomeExpense $243.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $4.04M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-817.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-1.85M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.21M USD 1 Quarter
Trade accounts payable IncreaseDecreaseInAccountsPayableTrade $139.00K USD 1 Quarter
Trade accounts payable IncreaseDecreaseInAccountsPayableTrade $-1.27M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseAccruedExpensesAndOtherLiabilities $-15.54M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseAccruedExpensesAndOtherLiabilities $-20.42M USD 1 Quarter
Restricted cash due to customers IncreaseDecreaseInRestrictedCashForOperatingActivities $-188.82M USD 1 Quarter
Restricted cash due to customers IncreaseDecreaseInRestrictedCashForOperatingActivities $-141.06M USD 1 Quarter
Due to customers IncreaseDecreaseInDonationsPayable $-188.82M USD 1 Quarter
Due to customers IncreaseDecreaseInDonationsPayable $-141.06M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $-6.76M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $-8.88M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $12.76M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $6.76M USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $7.84M USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.72M USD 1 Quarter
Capitalized software development costs PaymentsToDevelopSoftware $5.80M USD 1 Quarter
Capitalized software development costs PaymentsToDevelopSoftware $6.58M USD 1 Quarter
Purchase of net assets of acquired companies, net of cash PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Purchase of net assets of acquired companies, net of cash PaymentsToAcquireBusinessesNetOfCashAcquired $-59.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-9.24M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-13.63M USD 1 Quarter
Proceeds from issuance of debt ProceedsFromIssuanceOfDebt $74.60M USD 1 Quarter
Proceeds from issuance of debt ProceedsFromIssuanceOfDebt $67.60M USD 1 Quarter
Payments on debt RepaymentsOfDebt $60.49M USD 1 Quarter
Payments on debt RepaymentsOfDebt $53.79M USD 1 Quarter
Employee taxes paid for withheld shares upon equity award settlement PaymentsRelatedToTaxWithholdingForShareBasedCompensation $14.83M USD 1 Quarter
Employee taxes paid for withheld shares upon equity award settlement PaymentsRelatedToTaxWithholdingForShareBasedCompensation $5.52M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $3.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $11.00K USD 1 Quarter
Dividend payments to stockholders PaymentsOfDividends $5.76M USD 1 Quarter
Dividend payments to stockholders PaymentsOfDividends $5.70M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-6.78M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $2.89M USD 1 Quarter
Effect of exchange rate on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $707.00K USD 1 Quarter
Effect of exchange rate on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $225.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-3.28M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-3.03M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $13.87M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $12.08M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $16.90M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $15.36M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $13.87M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $12.08M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $16.90M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $15.36M USD Point-in-time
Stockholders Equity 13 line items
Line Item Tag Value Unit Period
Surrender of shares upon vesting of restricted stock and restricted stock units and exercise of stock appreciation rights SurrenderOfSharesUponRestrictedStockAndRestrictedUnitVestingAndExerciseofStockAppreciationRights 208,456.00 shares 1 Quarter
Balance StockholdersEquity $247.54M USD Point-in-time
Balance StockholdersEquity $248.05M USD Point-in-time
Net income NetIncomeLoss $6.24M USD 1 Quarter
Net income NetIncomeLoss $11.51M USD 1 Quarter
Payment of dividends DividendsCash $5.76M USD 1 Quarter
Exercise of stock options and stock appreciation rights and vesting of restricted stock units ExerciseOfStockOptionsAndStockAppreciationRightsValue $11.00K USD 1 Quarter
Employee taxes paid for 208,456 withheld shares upon equity award settlement AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $14.83M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $9.29M USD 1 Quarter
Restricted stock grants StockIssuedDuringPeriodValueRestrictedStockAwardGross - USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $282.00K USD 1 Quarter
Balance StockholdersEquity $247.54M USD Point-in-time
Balance StockholdersEquity $248.05M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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