Business
Bridgeline Announces Financial Results for the First Quarter of Fiscal 2023
WOBURN, Mass., Feb. 14, 2023 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a leading SaaS marketing technology provider, today announced
About this update from Bridgeline Digital, Inc.
[{"type":"text","content":"WOBURN, Mass., Feb. 14, 2023 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a leading SaaS marketing technology provider, today announced financial results for its fiscal first quarter ended December 31, 2022. “Bridgeline continues to win new customers and grow through partners with over $500 thousand in SaaS license sales to 22 customers in our first quarter,” said Ari Kahn, Bridgeline’s President and Chief Executive Officer. “Our search software is driving much of our success and grew organically by 18% CAGR. Search now accounts for more than half of our SaaS revenue.” Financial Highlights – First Quarter of Fiscal Year 2023: Total revenue was $4.1 million, compared to $4.3 million in the prior year period.Subscription and licenses revenue was $3.2 million, compared to $3.4 million in the prior year period.Gross profit was $2.8 million, compared to $3.0 million in the prior year period.Gross margin was 69%, compared to 70% in the prior year period. Business Highlights Corporate Highlights Bridgeline won 22 SaaS license sales totaling over $0.5 million in total contract value with $250 thousand in annual recurring revenue for its first quarter of fiscal year 2023.Bridgeline’s customer base continues to expand its investment in Bridgeline software with 10 subscription sales to its existing customers.Bridgeline’s customers purchased more than $750 thousand in consulting services.Bridgeline also had more than 125 renewing customers including Dairy Queen, Ron Jon, and Guardian Life. Product Highlights Bridgeline delivered several technological advances in its first quarter, including its HawkSearch Rapid User Interface Framework. The Rapid UI reduces the time and expense of launching new HawkSearch-powered websites. The framework not only reduces the total cost of ownership for new HawkSearch customers, but also accelerates Bridgeline’s customer acquisition sales cycle by allowing prospective customers to see how HawkSearch improves search within their site before purchasing it. Partner Highlights Bridgeline announced a partnership with Duda, the professional website builder for digital marketing agencies. Duda has driven over 150 WooRank sales since January 2023. Bridgeline’s WooRank SEO app is now available to more than 1 million sites built on Duda's platform. With the integration of WooRank, Duda users will be abl...