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BlueRush Inc. (TSXV:BTV; OTCQB:BTVRF) announced its Q2 2023 financial results, with SaaS revenues up 26% to $734,051, compared to $538,240 in Q2 2022. Revenues for the six months ended January 31, 2023, grew by 34%, reaching $1,499,075. The company highlighted the success of its IndiVideo for Sales platform, with over 50 meetings leading to a conversion rate of 50% into qualified opportunities. To strengthen its leadership, Savitri Ponnambalam joined as Chief Customer Officer, and Sandra Clarke was appointed Chief Financial Officer. The unaudited financial statements are available on SEDAR.
BlueRush Inc. (TSXV:BTV; OTCQB:BTVRF) reported strong financial results for the year ended July 31, 2022, with a 29.8% revenue increase to $4.77 million and a 58.6% gross profit rise to $3.53 million. The company achieved a 91.4% SaaS gross margin and a 15.4% growth in SaaS revenue, totaling $2.33 million. Significant R&D investment led to the launch of the IndiVideo for Sales platform, expected to enhance market reach and shorten sales cycles in 2023. The company secured a capital raise of US$3.02 million to support further innovation.
BlueRush Inc. has successfully completed a non-brokered private placement financing, raising US$3,023,995 through the issuance of Convertible Debenture Units. The funds will be used for general working capital. The company plans a consolidation of its common shares at a ratio of 1:2 or greater, pending shareholder approval. Glidepath Auxo LLC has subscribed US$1,725,000 worth of these units, potentially acquiring 22.8% of the company post-consolidation. A cash commission of US$229,200 was paid to a dealer involved in the offering.
BlueRush has reported strong financial results for Q2 2022, showcasing a total revenue increase of 36% to $2,342,565. Committed Annual Recurring Revenue (CARR) reached $3,072,614, up from $2,357,494 in the previous year. Gross profit rose by 71% to $1,723,205, while SaaS revenue grew by 16% to $1,121,962. Services revenue surged by 61% compared to last year. The company is pursuing a financing of up to US$5,000,000 and has partnered with Brightcove, enhancing sales opportunities.
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BlueRush Inc. (BTVRF), a software as a service company specializing in personalized video creation, has joined the Brightcove Marketplace. This integration enables Brightcove customers to utilize BlueRush's IndiVideo platform for enhanced video marketing by adding personalized elements. CEO Steve Taylor emphasized the demand for these capabilities, which boost engagement and conversion rates. The partnership aims to maximize ROI for organizations investing in video marketing.
BlueRush Inc. (TSXV: BTV, OTCQB: BTVRF) announces its CEO, Steve Taylor, will present at the Skyline Signature Series webinar on March 2, 2022, at 12 PM ET. This live, interactive event allows investors to engage directly with the company by asking questions. BlueRush develops IndiVideo™, a personalized video SaaS platform aimed at enhancing customer interactions and insights. The Skyline Signature Series connects public companies with financial professionals through curated virtual presentations.
BlueRush Inc. (TSXV: BTV) (OTCQB: BTVRF) announced preliminary financial results for Q2 2022, ending January 31, 2022, showcasing robust growth in subscription and service bookings. Notable achievements include a net increase in recurring revenue bookings of $314,000 and total Contracted Annual Recurring Revenue (CARR) surpassing $3.1 million. The company secured significant contracts in financial services and ventured into new verticals like Telco and Utilities. Anticipated gross margins on subscriptions exceed 90% while professional services margins are expected to surpass 40%.