However, CEO Mike Gianoni did single out growth in the developer channel. “For the first time in the history of the company, there are now significantly more outside developers developing on our platform than Blackbaud engineers,” he said. Gianoni did not mention the number of developers but said the group has produced more than 1,000 Sky applications. CFO Tony Boor provided a bit more detail noting, We've seen early traction building out our partner network, including third-party implementation partners. We're planning to continue these heightened investments through the end of the year. “ Meanwhile, or the quarter, a 23.9-percent decline in one-time services held down revenue growth. The company had $15.9 million in that category for the recently completed quarter, down from $20.9 million a year earlier. Boor said Blackbaud expects one-time services revenue will be down by 25 percent for 2019. Gianoni said the shift to cloud revenue is “driving a shift away from onetime services as we reduce the hours needed for implementation and integration of our solutions. In order to effectively.” Recurring revenue for the recently ended quarter was $295.2 million, up 8.7 percent from last year’s corresponding period. For the three month-period Blackbaud reported a 59.1-percent drop in net income with $11.4 million on the bottom line for the most recently ended quarter, down from $98.5 million. The nonprofit software company had total revenue of $222.1 million, an increase of 5.5 percent from $209.5 million in last year’s corresponding period.Last modified on Friday, 01 November 2019
BLAUDBAUD TOUTS PARTNERS Featured
Blackbaud pointed to progress in developing its partner network, during its recent webcast for earnings for the third quarter ended September 30. Executives did not provide much detail about the network, but expressed confidence that progress will continue to be made in its development, spurred by additional investment.