https://investor.blackbaud.com/news-releases/news-release-details/blackbaud-announces-impairment-charge-related-everfi-assets#:~:text=12%2C%202024%20%2FPRNewswire%2F%20%2D%2D,be%20up%20to%20approximately%20%24415
When I saw this I thought they were talking about Mike G.
It means that they are recording a depreciation in value of an asset. In this case, the asset is EVERFI. They bought EVERFI for $750 million and are recording a $415 million impairment, which means they’re now valuing EVERFI at $335 million. They’re probably getting ready to sell it.
What does this mean? It sounds bad. It also sounds like everfi is being sold very soon