Business
Bridgeline Announces Financial Results for the Second Quarter of Fiscal 2023
Second Quarter Total Revenue Increases from Prior Quarter WOBURN, Mass., May 15, 2023 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a provider
About this update from Bridgeline Digital, Inc.
[{"type":"text","content":"Second Quarter Total Revenue Increases from Prior Quarter\nWOBURN, Mass., May 15, 2023 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a provider of cloud-based Marketing Technology software, today announced financial results for its fiscal second quarter ended March 31, 2023. “Bridgeline’s Bronco release places HawkSearch miles ahead of the competition and will not only drive new sales for Bridgeline but also allow us to grow revenue within our own customer base,” said Ari Kahn, Bridgeline’s President and Chief Executive Officer. “Bronco accelerates our customer’s revenue with Rapid UI Framework’s faster implementation time and Industry Accelerator’s industry-specific artificial intelligence.” Financial Highlights – Second Quarter of Fiscal Year 2023 Total revenue was $4.1 million, compared to $4.1 million in the prior year period.Subscription and licenses revenue was $3.3 million, compared to $3.3 million in the prior year period.Gross profit was $2.8 million, an increase of 2% from $2.8 million in the prior year period.Gross margin increased to 69% compared to 68% in the prior year period. Financial Highlights – First 6 Months of Fiscal Year 2023 Total revenue was $8.2 million, a decrease of 3% from $8.4 million in the prior year period.Subscription and licenses revenue was $6.5 million, a decrease of 3% from $6.7 million in the prior year period.Gross profit was $5.6 million, a decrease of 3% from $5.8 million in the prior year period.Gross margin of 69% was consistent with 69% in the prior year period. Business Highlights Corporate Highlights Over $1.4 million in new sales including $600 thousand in license contracts and $800 thousand in professional services. Product Highlights In the Product space, we are focused on integrating key features across our products to drive down costs and increase revenues for our customers.Our ‘Bronco’ release introduced the Rapid UI Framework, which reduces the time and expense to launch new HawkSearch-powered websites.The Bronco release also embeds WooRank SEO Optimization and Advanced Analytics to our e360 platform for increased cross-selling opportunities. Partner Highlights Strategic partnership with accessiBe, the market leader in web accessibility, with over 180,000 customers, including PlayStation, Johnson & Johnson's, and NBC.Bridgeline has sold over 500 WooRank licenses...