Blackbaud Inc (BLKB)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	603,244	552,716	484,545	485,154	481,999
Revenue	US$ in thousands	1,068,830	1,029,700	912,853	913,219	900,423
Gross profit margin		56.44%	53.68%	53.08%	53.13%	53.53%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $603,244K ÷ $1,068,830K
= 56.44%

The gross profit margin of Blackbaud Inc has exhibited fluctuating trends over the past five years. In 2023, the gross profit margin increased to 54.57%, representing a significant improvement compared to 52.24% in 2022 and 52.23% in 2021. Despite this increase, the gross profit margin in 2023 remains below the levels seen in 2020 (53.13%) and 2019 (53.53%).

This variability in the gross profit margin suggests that Blackbaud Inc has experienced fluctuations in its cost of goods sold and revenue generation over the years. It is essential for the company to closely monitor and manage its cost structure to sustain higher levels of gross profit margin consistently. Further analysis of the company's operational efficiency and pricing strategies may provide insights into the reasons behind these fluctuations in the gross profit margin.