Business
Bridgeline Announces Financial Results for the Full Year and Fourth Quarter of Fiscal 2022
FY 2022 Revenue Increases 27% Versus Prior Year FY 2022 Subscription and Licenses Revenue Increases 36% Versus Prior Year WOBURN, Mass., Dec. 20, 2022 (GLOBE
About this update from Bridgeline Digital, Inc.
[{"type":"text","content":"FY 2022 Revenue Increases 27% Versus Prior Year FY 2022 Subscription and Licenses Revenue Increases 36% Versus Prior Year WOBURN, Mass., Dec. 20, 2022 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a leading SaaS marketing technology provider, today announced financial results for its fiscal fourth quarter ended September 30, 2022. “Bridgeline continues to grow with an increase of 27% in annual revenue compared to the prior year,” said Ari Kahn, Bridgeline’s President and Chief Executive Officer. “Our partner network is driving new customer wins, and in addition to our ISV partners such as BigCommerce, Kentico, Optimizely, and Sitefinity, we have added several system integrators including Niteco and Thanx Media to drive more sales.” Financial Highlights – Fourth Fiscal Quarter of Fiscal Year 2022 Total revenue was $4.2 million, an increase of 3% from $4.1 million in the prior year period.Subscription and licenses revenue was $3.4 million, an increase of 3% from $3.4 million in the prior year period.Gross profit was $3.0 million, an increase of 7% from $2.8 million in the prior year period.Gross margin increased to 71% compared to 68% in the prior year period. Financial Highlights – Fiscal Year 2022 Total revenue was $16.8 million, an increase of 27% from $13.3 million in the prior year period.Subscription and licenses revenue was $13.6 million, an increase of 36% from $10.0 million in the prior year period.Gross profit was $11.7 million, an increase of 34% from $8.7 million in the prior year period.Gross margin increased to 70% compared to 66% in the prior year period. Business Highlights Corporate Highlights Bridgeline reported 28 SaaS license sales totaling over $1 million in total contract value with $340 thousand in annual recurring revenue for its fourth quarter of fiscal year 2022. Bridgeline's cross-sale strategy remains strong, with 13 subscription sales to its existing customer base and 15 newly won customers. Existing Bridgeline customers who expanded their ownership of Bridgeline software include HP, 7-Eleven, and SAGE Publishing.More than 100 customers renewed their software subscriptions in the fourth quarter, including Caterpillar, AstraZeneca, Hammacher Schlemmer, and Coca-Cola Europacific Partners. More than 80% of Bridgeline’s revenue comes from subscriptions, with the balance of the revenue from p...