Bridgeline Signs Over $1.4M in New Sales and $4M in License Renewals during its Second Quarter of Fiscal 2023

Rhea-AI Summary

Bridgeline Digital (NASDAQ: BLIN) reported $1.4 million in new sales for Q2 FY2023, including $600,000 in licenses and $800,000 in services. The company secured over $4 million in license renewals from 200 existing customers. Major clients included AstraZeneca and Toyota. Bridgeline also sold 500 subscriptions through its partnership with Duda, enhancing its service offerings. The launch of the 'Bronco' release aims to streamline costs and increase revenue for clients by integrating SEO tools and improving product interoperability. Bridgeline plans to announce its Q2 fiscal results in May.

Positive

• Signed $1.4 million in new sales, boosting revenue.
• Secured over $4 million in license renewals from major clients.
• Launched the 'Bronco' release to enhance product features and drive customer revenue.

Negative

• None.

WOBURN, Mass., April 03, 2023 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a leader in cloud-based digital experience software, today provided the following update for the end of its second quarter of fiscal 2023.

In its second quarter, Bridgeline signed $1.4 million in new sales, including $600 thousand in licenses representing more than $300 thousand in annual recurring revenue, plus $800 thousand in services.   Most new sales contracts were for a three-year term, and HawkSearch represented the bulk of the new bookings.

Over 200 of Bridgeline’s existing customers, representing over 90% of customers and recurring revenue that was contracted for renewal during the quarter, renewed $4 million in license subscriptions with several customers increasing the size of their license. Renewals included Global 500 enterprises such as AstraZeneca, Toyota, and UPS.

Bridgeline sold over 500 subscriptions through its new partnership with Duda, a leading Content Management Platform. The partnership, signed in January 2023, makes WooRank available to over 10,000 websites through the Duda App Store. WooRank allows Duda users to increase traffic to their sites by improving their ranking on search engines such as Google.

“Bridgeline is focused on integrating key features across all of its products to drive down costs and increases revenues for our customers,” said Ari Kahn, Bridgeline's President and Chief Executive Officer. “The HawkSearch Bronco release accomplishes this by embedding WooRank SEO optimization into the dashboard, and adding Advanced Analytics to our e360 platform, all while launching our Rapid UI (User Interface) Framework to simplify implementation.”

Bridgeline’s ‘Bronco’ release for HawkSearch is focused on boosting revenue for our customers while reducing their implementation cost. This is accomplished by improving interoperability across our products, leveraging domain specific AI to pre-tune a HawkSearch powered website, and reducing deployment of HawkSearch so its implementation is out of the box.

• Bronco directly embeds WooRank into the HawkSearch dashboard to alert customers to SEO optimization options to drive more traffic to their site.
• Bronco introduces the ’Rapid UI Framework’, which reduces the time and expense to launch new HawkSearch-powered websites. Prospective users can now experience the power of HawkSearch from within their own site during the presales process by embedding recommendations, landing pages, and even full search experiences, as easily as they would embed a YouTube video for an expedited sales process.
• Bronco releases HawkSearch Industry Accelerators which empower eCommerce sites in a particular industry with domain specific intelligence that HawkSearch has learned while powering other sites within that industry. Industry Accelerators allow our customers to hit the ground running on day one with years of intelligence out of the box to improve conversion rates while reducing the implementation time for new customers.
  

Bridgeline plans to announce its second quarter fiscal year 2023 results in May.

Contact:

Danielle Erwin

SVP of Marketing

Bridgeline Digital

press@bridgeline.com

FAQ

What were Bridgeline Digital's new sales figures for Q2 FY2023?

Bridgeline Digital reported $1.4 million in new sales for Q2 FY2023.

Which major clients renewed their contracts with Bridgeline Digital?

Major clients that renewed contracts include AstraZeneca, Toyota, and UPS.

What is the significance of the 'Bronco' release for Bridgeline Digital?

The 'Bronco' release integrates SEO tools and improves product interoperability to drive revenue for customers.

When will Bridgeline Digital announce its Q2 FY2023 results?

Bridgeline Digital plans to announce its Q2 FY2023 results in May.

How many subscriptions did Bridgeline Digital sell through its partnership with Duda?

Bridgeline Digital sold over 500 subscriptions through its partnership with Duda.