Business
Bridgeline Announces Financial Results for the Third Quarter of Fiscal 2021
Revenue Increases by 31% with Strong Revenue Expected Next Quarter Strong Cash Position Enables Additional Investment in Sales & Marketing WOBURN, Mass., Aug.
About this update from Bridgeline Digital, Inc.
[{"type":"text","content":"Revenue Increases by 31% with Strong Revenue Expected Next Quarter Strong Cash Position Enables Additional Investment in Sales & Marketing WOBURN, Mass., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a provider of cloud-based Marketing Technology software, today announced financial results for its fiscal third quarter ended June 30, 2021. “Bridgeline posted 31% topline growth this quarter and expects license and subscription revenue to grow by double digits next quarter,” said Ari Kahn, Bridgeline’s President, and Chief Executive Officer. Mr. Kahn continued, “We won more license sales in our third quarter than ever before in the company’s history, plus Bridgeline has approximately $10M in cash, which will accelerate sales and marketing investments for even stronger quarters to come.” Third quarter Summary: Total revenue, which is comprised of Licenses and Services revenue, was $3.4 million for the quarter ended June 30, 2021 as compared to $2.6 million for the same period in 2020. Subscription and licenses revenue grew by 37% and Services revenue by 15%.Subscription and licenses revenue, which is comprised of SaaS licenses, maintenance and hosting revenue and perpetual license revenue increased 37% to $2.6 million for the quarter ended June 30, 2021, from $1.9 million for the same period in 2020. As a percentage of total revenue, Subscription and licenses revenue increased 3% to 76% of total revenue for the quarter ended June 30, 2021, compared to 73% for the same period in 2020.Services revenue increased 15% or $108,000 to $821,000 for the quarter ended June 30, 2021 as compared to $713,000 for the same period in 2020. As a percentage of total revenue, Services revenue accounted for 24% of total revenue for the quarter ended June 30, 2021, compared to 27% for the same period in 2020.Gross profit increased 45% or $699,000 to $2.3 million for the quarter ended June 30, 2021 as compared to $1.6 million for the same period in 2020. Cost of revenue increased 11% or $114,000 to $1.2 million for the quarter ended June 30, 2021 compared to $1.1 million for the same period in 2020. Gross margin percentage increased to 65% for the quarter ended June 30, 2021, compared to 59% for the same period in 2020. Subscription and licenses gross margin percentage were 72% for three months ended June 30, 2021 as compared...