Blackbaud Inc (BLKB)

Pretax margin

		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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	-311,591	92,414	77,818	40,036	17,644	-34,045	-64,026	-61,720	-55,575	-40,759	-20,159	-5,894	7,083	11,029	8,956	16,799	21,614	27,024	25,322	18,876
Revenue (ttm)	US$ in thousands	1,155,366	1,148,145	1,139,044	1,122,929	1,105,432	1,085,178	1,068,849	1,062,734	1,058,105	1,031,239	1,001,160	965,673	927,740	922,455	906,238	908,789	913,219	908,452	914,571	908,214
Pretax margin		-26.97%	8.05%	6.83%	3.57%	1.60%	-3.14%	-5.99%	-5.81%	-5.25%	-3.95%	-2.01%	-0.61%	0.76%	1.20%	0.99%	1.85%	2.37%	2.97%	2.77%	2.08%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-311,591K ÷ $1,155,366K
= -26.97%

Blackbaud Inc's pretax margin has fluctuated over the past several quarters. From March 31, 2020, to June 30, 2021, the pretax margin showed a gradual decline, reaching a low of 0.99% in June 2021. However, there was a significant drop in profitability in the following quarters, with pretax margins becoming negative from March 31, 2022, through June 30, 2023.

The company experienced a sharp recovery in profitability in the later part of 2023 and throughout 2024. The pretax margin increased to 8.05% on September 30, 2024, but then saw a drastic decline to -26.97% by December 31, 2024. This significant decrease in pretax margin raises concerns about the company's operational efficiency and financial performance during that period.

Overall, the analysis of Blackbaud Inc's pretax margin indicates a volatile trend with periods of both improvement and deterioration in profitability. It is important for investors and stakeholders to monitor the company's financial health closely to assess its ability to generate profits and manage costs effectively.