TacticScaleWhat Blackbaud Does & How It Makes Money (BLKB)
Updated October 2026 · reflects Blackbaud's latest reported financials
Software maker for nonprofits, schools, foundations and corporate giving programs. Blackbaud sells its software through its own direct sales force.
How Blackbaud makes money
Blackbaud sells its software through its own direct sales force. It also earns money from payment processing, data intelligence, professional and managed services such as implementation and customization, and training.
What Blackbaud does
Blackbaud, Inc., founded in 1981 and based in Charleston, South Carolina, builds AI-powered software for the social-good sector. Its products cover fundraising and donor engagement (Raiser's Edge NXT, Blackbaud CRM, Luminate Online, TeamRaiser, JustGiving), financial management (Financial Edge NXT, tuition, financial aid and billing tools), grant and award management, and school systems for student information, learning, enrollment and websites. It also serves companies through YourCause employee giving, volunteering and CSR tools, and runs payments through Blackbaud Merchant Services. On top of the software, Blackbaud sells data intelligence, implementation and managed services, and training, all through its direct sales force, in the U.S. and internationally.
Products & services
- Blackbaud Raiser's Edge NXT
- Blackbaud Financial Edge NXT
- JustGiving from Blackbaud
- Blackbaud Student Information System
- YourCause CSRconnect
- Blackbaud Merchant Services
What is Blackbaud worth?
On an owner-earnings DCF, Blackbaud's most-likely value is about $124 versus a recent price near $45 (173% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$66) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.
On the financials alone, $45 is below even the no-growth floor ($66); the market's discount — expectations and sentiment beyond the numbers — is pricing in ≈ -4.0%/yr. A bargain only if that pessimism is overdone.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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