Bridgeline Wins Over $500 Thousand in SaaS License Sales in its First Quarter of Fiscal 2023
Rhea-AI Summary
Bridgeline Digital, Inc. (NASDAQ: BLIN) reported a strong start to fiscal Q1 2023, ending December 31, 2022, with 22 SaaS license sales totaling over $0.5 million in contract value. The quarter generated $250,000 in annual recurring revenue and saw significant growth in consulting services, totaling nearly $500,000. Notable customer renewals included brands like Ron Jon and Dairy Queen. The company plans to enhance partnerships and invest in technological advancements, including the HawkSearch Rapid User Interface Framework. Q1 results are expected to be announced in February.
Positive
- 22 SaaS license sales generating over $0.5 million in total contract value.
- $250,000 in annual recurring revenue for Q1 2023.
- Strong consulting services revenue nearing $500,000.
- More than 125 customer renewals, including recognized brands.
- Significant partnerships driving new business growth.
Negative
- None.
News Market Reaction – BLIN
In the trading session that priced this news, BLIN gained 3.12%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
WOBURN, Mass., Jan. 12, 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 first quarter of fiscal 2023, which ended December 31, 2022.
Bridgeline reported 22 SaaS license sales totaling over
“Bridgeline’s partners continue to drive strong new business for us, including Optimizely, BigCommerce, Progress Software, and Shopify,” said Ari Kahn, Bridgeline’s President, and Chief Executive Officer. “In 2023 we intend to further invest in our partners with both technological advances and marketing initiatives.”
Bridgeline delivered several technological advances in its first quarter, including its HawkSearch Rapid User Interface Framework. The Rapid UI reduces the time and expense of launching new HawkSearch-powered websites. The framework not only reduces the total cost of ownership for new HawkSearch customers, but also accelerates Bridgeline’s customer acquisition sales cycle by allowing prospective customers to see how HawkSearch improves search within their site before purchasing it.
Bridgeline’s strength in the electrical and plumbing distributor sector continues to grow. New electrical distributors and plumbing suppliers invested in Bridgeline in the first quarter. The Company will continue to invest in this sector with marketing initiatives in 2023 including presenting at major conferences, webinars, and online advertising.
Bridgeline intends to announce its first quarter fiscal year 2023 results in February.
Contact:
Danielle Erwin
VP of Marketing
Bridgeline Digital
press@bridgeline.com
