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B’BAUD: MANY PRICING ACTIONS UNDERWAY Featured

Blackbaud has multiple pricing initiatives underway, the company said this week. The comments were made by CEO Mike Gianoni during the earnings webcast for the year ended December 31.

No specific levels of change were discussed. But Gianoni said that on started last summer will be in effect for all of 2022. “Another one started in Q4-ish time frame, and that's ramping up,” Gianoni said. He said there is a mult-iyear ramp up with a new pricing model with Just Giving on a product called Complete Cover. All the pricing changes will be in place by the end of the year. The comments came after the company reported results for 2021. Blackbaud saw earnings decline 26.2 percent year-over-year on a slight increase in revenue. Last year’s earnings were $5.7 million, down from $7.7 million for 2020. Revenue grew 1.6 percent to $927.7 million in 2021 from $913.2 million the prior year. The company expects to top $1 billion in revenue for the first time in 2022 with the addition of recently purchased EverFi Blackbaud’s guidance for this year is for revenue of  $1.075 billion to $1.095 billion. The bottom line was helped as operating expenses dropped to $4.5 million, down 2.6 percent from $459.7 million. Spending for R&D and G&A were cut while spending for sales, marketing and customer success rose by 12.6 percent

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