This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.
spk_2: Day and Welcome to Blackboards, 4th quarter and full year 2020 earnings call. Today's conference is being recorded Now I'll turn the conference over to Mark furlong. Please go ahead sir.
spk_1: Good morning everyone. Thanks for joining us on Blackboards, 4th quarter and full year 2020 earnings call joining me on the call today are mike Giannone, blackboards, president and Ceo and Tony bore black bodies 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 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 10K and other sec filings for more information on those risks. We believe that a combination of both gap and non gap measures are more representative of how we internally measure our business unless otherwise specified. We will refer only to non gap financial measures on this call. Please note that non gap financial measures should not be considered in isolation from or as a substitution for gap measures. A reconciliation of gap and non gap results is available in the press release we issued last night and a more detailed supplemental schedule is available in our presentation on our investor relations website. Before I turn the call over to Mike, Please note Black Body will host a virtual investor session On March 25 and we invite members of the investment community to register for the event by visiting our investor relations website. I'll also mention that during the first quarter of 2021, our team will be virtually attending Raymond James's 42nd Annual Institutional Investor Conference. With that, I'll turn the call over to mike.
spk_0: Thanks Mark. Good morning everyone. Thanks for joining our call today. Q four was a very solid quarter and a strong finish. So what has been a unique year to say the least? As we discussed during our december event where we outlined our long term goals and strategic outlook. Our pivot to place a greater emphasis on profitability positions us for significant improvement on the rule of 40 as we exit the pandemic, including a return to a sustainable revenue growth rate in the mid single digits or greater. Our results are a solid early indicator that over time the rule of 40 is within our reach. We achieved 30 on the rule of 40 for the fourth quarter And we were within 10 basis points of the rule of 40 in the month of December. As our organic revenue Growth re strengthen toward the end of the quarter. Without a doubt. This past year has tested the industry and underscored the resiliency of our customers and our market as they serve such a critical role in solving the challenges we face. As a society, 2020 put a spotlight on the need for digital capabilities. A social good organizations were forced to quickly pivot their own operations to ensure they continue to deliver on their missions in this environment. For example, while the shift to online and virtual fundraising has been reshaping the landscape in this market for many years, That shift has rapidly accelerated. In 2020, We saw over 20 year over year growth in online giving with more than a quarter of donations made on a mobile device And end of your giving grew nearly 30 year over year. For more than two decades, Less than 10 of giving has been done online, But this group to 13 last year and now mirrors the digital adoption experienced in online retail sales. This is a significant milestone for online giving the current environment is not just causing a shift to a digital first mindset within our customer base, but also a shift in how donors, students, employees and others expect to engage with social good organizations going forward. This is an acceleration of a long term transformation that we believe will drive significant demand for cloud software solutions in the upcoming quarters and years. Looking ahead, the progress being made to distribute covid vaccines bodes well for the return of in person events this year, And I'm increasingly bullish on the outlook for our market, our customers and our company as we move through 2021, I'd like.
Disclaimer