Blackbaud, Inc. (NASDAQ:BLKB) Q2 2023 Earnings Conference Call August 2, 2023 8:00 AM ET

Company Participants

Kevin Muni - IR

Mike Gianoni - President and CEO

Tony Boor - EVP and CFO

Conference Call Participants

Brian Peterson - Raymond James

Rob Oliver - Baird

Parker Lane - Stifel

Kirk Materne - Evercore ISI

Matt VanVliet - BTIG

Operator

Good day, and welcome to Blackbaud's Second Quarter 2023 Earnings Call. Today's conference is being recorded. I'll now turn the conference over to Kevin Muni. Please go ahead, sir.

Kevin Muni

Good morning, everyone. Thank you for joining us on Blackbaud's second quarter 2023 earnings call. Joining me on the call today are Mike Gianoni, Blackbaud's President and CEO; and Tony Boor, Blackbaud's Executive Vice President and CFO. Mike and Tony will make prepared comments, and then we will open up the line for your questions.

Please note that our comments today contain certain forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Please refer to our most recent Form 10-K and other SEC filings for more information on those risks.

The discussion today will focus on non-GAAP results. Please refer to our press release and the investor materials posted to our website for the full details of our financial performance, including GAAP results as well as full year guidance. We believe that a combination of both GAAP and non-GAAP measures are more representative of how we internally measure our business. Unless otherwise specified, we will refer only to non-GAAP financial measures on this call. Please note that non-GAAP financial measures should not be considered in isolation from as a substitution for GAAP measures. Before I turn the call over to Mike, I'll briefly mention that our Investor Relations team will be participating in investor meetings with Stiefel in New York City on August 14th, and attending the Three Part Advisors, Midwest IDEAS conference in Chicago on August 23rd. With that, I'll turn the call over to Mike.

Mike Gianoni

Thank you for joining our call. I'm pleased to share that we're making measurable progress on the five-point operating plan we introduced in May. With this plan, we essentially have a one, two punch. The first is the margin expansion that we began to realize in the second quarter. And the second punch is a new layer of revenue driven by our modernize approach to renewal pricing, that will accelerate revenue growth in the second half, and we'll have good margin flow through.