Bridgeline Digital Inc (NASDAQ:BLIN) has announced financial results for its fiscal first quarter ended December 31, revealing a major uptick in search software revenue.
Total revenue in the period was $4.1 million, compared to $4.3 million in the same quarter a year earlier. Subscription and license revenue was $3.2 million, compared to $3.4 million in the year-ago period.
“Bridgeline continues to win new customers and grow through partners with over $500,000 in SaaS license sales to 22 customers in our first quarter,” CEO Ari Kahn said.
“Our search software is driving much of our success and grew organically by 18% CAGR. Search now accounts for more than half of our SaaS revenue.”
READ: Bridgeline Digital sees over $500,000 in SaaS license sales in 1Q
Bridgeline’s customer base continues to expand its investment in Bridgeline software with 10 subscription sales to its existing customers, the company noted, and customers also purchased more than $750,000 in consulting services.
The company had more than 125 renewing customers including Dairy Queen, Ron Jon and Guardian Life.
Net loss for the quarter was $100,000, compared to a net income of $1.9 million for the same period in 2021.
During the quarter, Bridgeline delivered several technological advances, including its HawkSearch Rapid User Interface (UI) Framework. The Rapid UI reduces the time and expense of launching new HawkSearch-powered websites.
This reduces the total cost of ownership for new HawkSearch customers and accelerates the company’s customer acquisition sales cycle by allowing prospective customers to see how HawkSearch improves search within their site before purchasing it, the company said.
Bridgeline Digital helps companies grow their online revenue by increasing traffic, conversion rates, and average order value.
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