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CHARLESTON, S.C. - Blackbaud (NASDAQ: BLKB), a leading provider of software for social impact with annual revenue of $1.16 billion, has appointed Chad Anderson as the new executive vice president and chief financial officer. Anderson, a 12-year veteran at the company, will be responsible for financial reporting, controls, and investor relations. Tony Boor, the outgoing CFO who has served for 14 years, will transition to executive vice president of corporate development and strategy. According to InvestingPro data, the company maintains a strong free cash flow yield of 10%, suggesting efficient cash generation despite recent challenges.
Anderson’s promotion was announced on Monday, with Blackbaud’s president, CEO, and vice chairman Mike Gianoni stating, "Chad is a highly accomplished global finance executive with deep knowledge of our business, our customers, and the industry." Gianoni also thanked Boor for his tenure as CFO and expressed confidence in his new role to drive long-term value and operational excellence for the company. InvestingPro analysis reveals that management has been actively buying back shares, demonstrating confidence in the company’s future prospects. For detailed insights into Blackbaud’s financial health and growth potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
Prior to his promotion, Anderson served as Blackbaud’s chief accounting officer, managing accounting operations and ensuring financial health and compliance. His career includes a tenure as corporate controller at Blackbaud and financial leadership roles at Brightpoint Inc., a global provider of mobile device lifecycle services.
Boor, who joined Blackbaud in 2011, is credited with significant contributions to the company’s growth and success. His previous experience includes CFO positions at Brightpoint Inc., Expo New Mexico, Day Dream Publishing, and work as a CPA for Ernst & Young and KPMG.
Both Anderson and Boor will remain on Blackbaud’s executive leadership team. This move is part of a strategic realignment within Blackbaud, aiming to enhance the company’s financial management and strategic planning as it continues to serve the nonprofit, education, and social responsibility sectors.
Blackbaud, headquartered in Charleston, South Carolina, has been recognized for its corporate responsibility and employee-friendly policies, being named to lists such as Newsweek’s America’s Most Responsible Companies and Forbes’ America’s Best Employers. The company, currently valued at $2.9 billion, operates in multiple countries and supports users worldwide. While trading near its 52-week low of $58.05, InvestingPro analysis suggests the stock is currently undervalued, with analysts projecting a return to profitability this year. Additional InvestingPro Tips and detailed financial metrics are available for subscribers.
This announcement is based on a press release statement from Blackbaud. The information provided is intended for general informational purposes and should not be considered as an endorsement of Blackbaud or its products.
In other recent news, Blackbaud Inc. reported its first-quarter 2025 earnings, surpassing expectations with an earnings per share (EPS) of $0.96 compared to the forecasted $0.89. The company’s revenue reached $271 million, slightly above the anticipated $268.1 million, reflecting a 5.8% organic growth. These results highlight Blackbaud’s strong start to the year, driven by innovation and customer retention. The company has been focusing on expanding its AI capabilities, which includes the launch of new AI-powered products. Blackbaud maintains a high customer retention rate of 92-93%, which is significant in the competitive social impact software market. Additionally, Blackbaud’s strategic focus on longer contract renewals has provided increased visibility and consistency in revenue. The firm’s revenue guidance for the full year is set between $1.1 billion and $1.125 billion, indicating 4.2% to 5.1% organic growth. Analyst firms such as Raymond James and Baird have engaged with Blackbaud, with discussions focusing on the company’s resilience and growth potential amidst broader market conditions.
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