05:10 PM EST, 12/12/2024 (MT Newswires) -- Blackbaud ( BLKB ) said late Thursday it will record a pretax noncash impairment charge of up to $415 million related to its EVERFI asset group in Q4.

The company is considering various alternatives for the EVERFI business, including a potential sale, citing below-expectation performance. "The impairment charge was determined to be necessary as part of this process," Blackbaud ( BLKB ) said.