Bridgeline Digital Inc (NASDAQ:BLIN) Swung to a Loss in the Fourth Quarter

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Bridgeline Digital Inc (NASDAQ:BLIN) stock plummets 16.30% (As on Dec 21, 11:22:38 AM UTC-4, Source: Google Finance) after the company swung to a loss in the fourth quarter. Subscription and licenses revenue grew by 67% and Services revenue grew by 7%. Subscription and licenses revenue, which is comprised of SaaS licenses, maintenance and hosting revenue and perpetual license revenue, increased 67% to $3.4 million for the quarter ended September 30, 2021, from $2.0 million for the same period in 2020. As a percentage of total revenue, Subscription and licenses revenue increased 8% to 82% of total revenue for the quarter ended September 30, 2021, compared to 74% for the same period in 2020. Services revenue increased 7% to $0.8 million for the quarter ended September 30, 2021, as compared to $0.7 million for the same period in 2020. As a percentage of total revenue, Services revenue accounted for 18% of total revenue for the quarter ended September 30, 2021, compared to 26% for the same period in 2020. The company has reported net loss for the quarter ended September 30, 2021, of $1.3 million, compared to net income of $1.1 million for the same period in 2020. Adjusted EBITDA for the quarter ended September 30, 2021, was $0.2 million, compared to $0.5 million for the same period in 2020. Net loss attributable to common shareholders for the quarter ended September 30, 2021, was $3.4 million, reflecting a $2.0 million deemed dividend on convertible preferred stock.

The company had reported the adjusted revenue growth of 52 percent to $4.1 million in the fourth quarter of FY 21, beating the analysts’ estimates for revenue of $3.9 million. Gross profit increased 53% or $1.0 million to $2.8 million for the quarter ended September 30, 2021, as compared to $1.8 million for the same period in 2020. Gross margin percentage increased to 68% for the quarter ended September 30, 2021, compared to 67% for the same period in 2020. Subscription and licenses gross margin percentage was 75% for three months ended September 30, 2021, as compared to 76% for the same period in 2020. Services gross margin percentage was 37% for the three months ended September 30, 2021, as compared to 43% for the same period in 2020.

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