Blackbaud to take up to $415 million noncash impairment charge tied to EVERFI
Blackbaud disclosed that it has concluded a material impairment charge is required for its EVERFI asset group, with an estimated pre-tax noncash charge of up to approximately $415 million, to be reflected in fourth-quarter 2024 results. The company is evaluating alternatives for EVERFI, including a potential divestiture, and says the charge will not result in future cash expenditures. Shareholders face a large one-time charge and the possibility of additional impairments while the review continues.
Key points
- Estimated pre-tax noncash impairment charge of up to approximately $415 million for the EVERFI asset group
- Impairment determination made December 9, 2024; charge to be reflected in fourth-quarter 2024 financial statements
- EVERFI represented approximately 8% of total revenue for the nine months ended September 30, 2024
- Actual charge could differ materially; a Form 8-K amendment will follow once the amount is determined
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 12, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.