Business
Bridgeline Announces Financial Results for the First Quarter of Fiscal 2021
Subscription and Licenses Revenue Increases by 15%Positive Net Income, Operating Income and Adjusted EBITDA WOBURN, Mass., Feb. 11, 2021 (GLOBE NEWSWIRE) --
About this update from Bridgeline Digital, Inc.
[{"type":"text","content":"Subscription and Licenses Revenue Increases by 15%Positive Net Income, Operating Income and Adjusted EBITDA WOBURN, Mass., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a provider of cloud-based Marketing Technology software, today announced financial results for its fiscal first quarter ended December 31, 2020. “Our eCommerce360 strategy continues to deliver strong operating profit, faster customer wins, and strategic growth opportunities,” said Ari Kahn, Bridgeline’s President and Chief Executive Officer. “The acquisition of Woorank SRL will accelerate our eCommerce360 strategy with thousands of sales leads per month and an intelligent recommendation dashboard to cross-sell our software throughout our customer-base,” continued Mr. Kahn. “Woorank will become a central dashboard for all of our customers that connects our entire product line into a unified engine that helps them grow their online revenue.” First Quarter Summary: Total revenue, which is comprised of Licenses and Services revenue, was consistent at $2.8 million for the quarters ended December 31, 2020 and 2019. License revenue grew by 15% and Services decreased by 24%.Subscription and licenses revenue, which is comprised of SaaS licenses, maintenance and hosting revenue and perpetual license revenue increased 15% to $2 million for the quarter ended December 31, 2020, from $1.7 million for the same period in 2019. As a percentage of total revenue, Subscription and licenses revenue increased 9% to 70% of total revenue for the quarter ended December 31, 2020, compared to 61% for the same period in 2019. This increase is attributed to significant multi-year license renewals across our diverse portfolio of Fortune 500 companies.Services revenue decreased $259,000 to $837,000 for the quarter ended December 31, 2020 as compared to $1.1 million for the same period in 2019. As a percentage of total revenue, Services revenue accounted for 30% of total revenue for the quarter ended December 31, 2020, compared to 39% for the same period in 2019. Bridgeline’s overall strategy, called eCommerce360, has been on increasing recurring subscription revenue with out-of-the-box Apps that require little or no services to implement. This focus and continued growth are expected to further increase our subscription and licenses to services revenue ratio.Gross p...