Business Context and Reporting Period
Company: Blackbaud, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: March 7, 2005
Event: Regulation FD Disclosure regarding an investor presentation by the CEO and CFO.
Key Financial Metrics
This filing does not contain specific GAAP financial results (revenue, profit, cash flow, debt, or liquidity figures). It references an attached investor presentation (Exhibit 99.1) that includes selected non-GAAP financial measures, specifically:
- Pro forma gross margin
- Pro forma operating income and margin
- Pro forma net income
- Pro forma earnings per share
The filing text does not provide the numerical values for these metrics.
Material Changes and Non-GAAP Adjustments
The company utilizes non-GAAP measures to evaluate ongoing operational performance. These measures exclude the following items:
- Costs associated with the Blackbaud IPO (completed July 22, 2004)
- Amortization of intangibles arising from business combinations
- Expensing of stock option compensation
A reconciliation of these non-GAAP measures to GAAP financial measures is provided in Exhibit 99.2.
Guidance, Outlook, and Risks
Management Commentary: Management believes non-GAAP measures are useful supplements to GAAP measures for evaluating trends and comparing results with industry peers. However, the filing explicitly states that non-GAAP measures should not be considered in isolation or as a substitute for GAAP financial information.
Legal Disclaimer: Information furnished in Items 7.01 and 9.01 is not deemed "filed" under Section 18 of the Securities Exchange Act of 1934 and is not incorporated by reference into other filings unless expressly stated.
Investor Verification Checklist
- Review Exhibit 99.1 for the specific numerical values of the pro forma financial measures.
- Review Exhibit 99.2 to understand the reconciliation between non-GAAP and GAAP figures.
- Verify the impact of the July 2004 IPO costs and stock option expensing on reported GAAP results.
- Confirm that the presentation materials are consistent with the company's most recent audited financial statements.