Blackbaud Inc (BLKB)

Quick ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cash	US$ in thousands	67,628	34,633	30,438	26,376	728,257	31,091	29,041	24,083	31,691	31,413	29,029	33,786	55,146	27,591	28,288	27,753	35,750	30,563	30,531	24,972
Short-term investments	US$ in thousands	1,970	7,343	7,362	3,529	353	3,557	3,731	2,136	249	1,853	1,194	2,049	977	6,076	5,390	945	321	4,901	1,284	1,205
Receivables	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	1,252,100	962,205	1,348,980	862,627	1,197,140	937,600	1,361,130	863,863	1,230,640	871,022	994,319	758,932	1,109,630	660,126	877,627	646,134	1,013,400	620,268	858,885	622,779
Quick ratio		0.06	0.04	0.03	0.03	0.61	0.04	0.02	0.03	0.03	0.04	0.03	0.05	0.05	0.05	0.04	0.04	0.04	0.06	0.04	0.04

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($67,628K + $1,970K + $—K) ÷ $1,252,100K
= 0.06

The quick ratio of Blackbaud Inc has been fluctuating over the historical period provided. It started at a low of 0.04 in March 31, 2020, and remained around this level during the first half of 2020. There was a slight increase to 0.06 by September 30, 2020, but then dropped back to 0.04 by December 31, 2020.

Throughout 2021 and the first half of 2022, the quick ratio consistently stayed at 0.04. There was a small improvement to 0.05 by September 30, 2021, and this level was maintained until March 31, 2022.

However, a notable decrease to 0.03 occurred by June 30, 2022, followed by a slight recovery to 0.04 by September 30, 2022. The ratio dropped again to 0.03 by December 31, 2022, and remained at this level until March 31, 2023.

The quick ratio then experienced a significant spike to 0.61 by December 31, 2023, which could be an anomaly or influenced by certain events or transactions during that period. Subsequently, the ratio decreased back to 0.03 by June 30, 2024, and remained at this level until September 30, 2024. There was a slight increase to 0.04 by the end of 2024.

Overall, the quick ratio of Blackbaud Inc has demonstrated significant volatility, with fluctuations that may indicate changing liquidity positions and the ability to meet short-term obligations with quick assets. It would be advisable to further investigate the reasons behind the sudden spikes and drops in the ratio to assess the company's liquidity management effectively.