“The vast majority of customers are opting for three-year contract option,” CEO Mike Gianoni said during the company’s recent webcast for earnings for the second quarter ended June 30. The company is pushing customers towards the longer contracts with first-year price increases, accompanied by annual price hikes. Gianoni noted about 35 percent of all users contracts are up for renewal this year with about 70 percent of those already signed on. He said new pricing takes impact during the current half. For the most recently ended quarter, Blackbaud had $10.5 million in net income, compared to a loss of $11.3 million a year ago. Officials pointed to the rebound as reflecting the cost cutting it put in place. Revenue rose for slightly more than $271 million, a 2.3-percent increase from $264.9 million in last year’s corresponding period.
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B’BAUD USERS TAKE LONGER SUBS Featured
Blackbaud says its customers are overwhelmingly opting for its three-year contracts. The nonprofit software company began offering the longer subscriptions late in 2022.
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