Blackbaud Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	114.97	-299.52	3.02	-45.41	5.7
Depreciation & Amortization	39.92	73.37	66.69	65.57	51.41
Other Amortization	48.78	50.84	44.58	39.16	32.57
Loss (Gain) From Sale of Assets	-	407.05	-	-	-
Stock-Based Compensation	92.91	104.97	127.76	110.29	120.38
Provision & Write-off of Bad Debts	4.38	4.93	4.5	6.07	11.45
Other Operating Activities	-5.36	-67.07	-19.35	-20.97	8.06
Change in Accounts Receivable	-0.94	4.73	-3.24	-7.34	-6.53
Change in Accounts Payable	-23.54	28.34	-18.58	21.61	-9.67
Change in Unearned Revenue	9.74	-1.86	7.21	11.06	10.53
Change in Other Net Operating Assets	-15.31	-9.8	-12.96	23.85	-10.24
Operating Cash Flow	265.55	295.97	199.63	203.89	213.66
Operating Cash Flow Growth	-10.28%	48.26%	-2.09%	-4.57%	44.41%
Capital Expenditures	-7.77	-7.44	-4.69	-12.29	-11.66
Cash Acquisitions	-0.7	-	-0.01	-20.91	-419.12
Divestitures	-12.24	-1.18	-	6.43	-
Sale (Purchase) of Intangibles	-54.24	-59.76	-59.44	-58.77	-40.49
Other Investing Activities	-	-5.03	-0.25	-	-
Investing Cash Flow	-74.94	-73.41	-64.39	-85.55	-471.27
Long-Term Debt Issued	404.5	1,441	293.2	211	582.2
Long-Term Debt Repaid	-369.78	-1,145	-374.6	-310.74	-152.97
Net Debt Issued (Repaid)	34.72	296.69	-81.4	-99.74	429.23
Repurchase of Common Stock	-257.56	-474.86	-54.7	-36.38	-147.82
Other Financing Activities	-24.56	38.82	-6.87	110.43	-17.3
Financing Cash Flow	-247.4	-139.35	-142.97	-25.69	264.11
Foreign Exchange Rate Adjustments	6.25	-1.96	2.05	-10.49	0.3
Net Cash Flow	-50.54	81.26	-5.67	82.17	6.79
Free Cash Flow	257.78	288.53	194.95	191.6	202
Free Cash Flow Growth	-10.66%	48.00%	1.75%	-5.15%	70.80%
Free Cash Flow Margin	22.85%	24.99%	17.61%	18.11%	21.77%
Free Cash Flow Per Share	5.32	5.71	3.63	3.71	4.19
Cash Interest Paid	65.6	51.88	38.05	33.37	16.39
Cash Income Tax Paid	28.14	60.67	35.62	9.67	10.07
Levered Free Cash Flow	166.87	265.23	187.51	173.71	241.88
Unlevered Free Cash Flow	206.87	297.47	210.69	193.72	251.56
Change in Working Capital	-30.05	21.41	-27.56	49.18	-15.91

Source: S&P Global Market Intelligence. Standard template. Financial Sources.