Bridgeline Digital Inc (NASDAQ:BLIN) Topline Rises 43%

Bridgeline Digital Inc (NASDAQ:BLIN) stock rose 2.44% (As on May 13, 11:35:39 AM UTC-4, Source: Google Finance) after the company saw its second-quarter revenue rise by 43% to $4.1 million as the software company signed up more customers during the three months than in any other quarter in its history.  The company said its cross-sale strategy remained strong during the quarter, enabling it to close 33 license sales comprising nine license sales to existing customers and 24 newly won customers.

During the quarter, Bridgeline launched two new products – TruPresence, a franchise and multi-location businesses specialized software for managing multiple websites, location pages, local eCommerce, search, and reporting; and eCommerce360 Dashboard, a software providing online retailers an at-a-glance view of their site’s revenue strength. Commenting on partnerships, Bridgeline said its cooperation with Optimizely has been especially strong, driven by the advanced features of its Hawksearch product, which are important for B2B distributors such as Crescent Electric, Cleaner’s Supply, Torrco and Gerrie Electric to boost conversion and average order value.

BLIN in the second quarter of FY 22 has reported the total revenue of $4.1 million, an increase of 43% from $2.9 million in the prior year period. Subscription and licenses revenue, which is comprised of SaaS licenses, maintenance and hosting revenue and perpetual license revenue increased 66% to $3.3 million for the quarter ended March 31, 2022, from $2.0 million for the same period in 2021. As a percentage of total revenue, Subscription and licenses revenue increased to 80% of total revenue for the quarter ended March 31, 2022, compared to 69% for the same period in 2021. Services revenue was $0.8 million for the quarter ended March 31, 2022, as compared to $0.9 million for the same period in 2021. As a percentage of total revenue, Services revenue accounted for 20% of total revenue for the quarter ended March 31, 2022, compared to 31% for the same period in 2021. Net income for the quarter ended March 31, 2022, was $0.3 million, compared to a net loss of $0.6 million for the same period in 2021. Operating loss for the quarter ended March 31, 2022, was $0.6 million as compared to $0.1 million for the same period in 2021. Gross margin increased to 68% for the quarter ended March 31, 2022, compared to 63% for the same period in 2021. Subscription and licenses gross margin were 74% for three months ended March 31, 2022, as compared to 70% for the same period in 2021. Services gross margins were 43% for the three months ended March 31, 2022, as compared to 46% for the same period in 2021.

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