BlackBaud

Q2 FY2026 EarningsQ2 FY26 results presented a slight revenue miss but a solid beat on profitability and cash flow. Revenue of $290.6M marginally missed the $292.4M consensus, while normalized EPS of $1.33 exceeded the $1.28 expectation. Free cash flow of $75.3M was significantly higher than the $53.8M floor expected by analysts, driven by a 760bps YoY margin expansion. Management reaffirmed FY26 guidance, now expecting to finish in the upper half of ranges, signaling strong AI-driven productivity gains.