Bridgeline Digital said it won $1.2 million in new sales adding $600,000 in licenses, making more than $200,000 in annual recurring revenue, and more than $600,000 in services during the third-quarter of fiscal year 2023.
The company said most sales during the period were for three-year terms and its artificial intelligence (AI) powered search tool Hawksearch represented the bulk of new bookings.
The Burlington, Massachusetts-based company which provides cloud-based web content management, ecommerce and marketing automation software, scored new customers which included Borsheims, Catapult Energy, Seattle Aviation Solutions, and Voltus.
Bridgeline said that around 200 of its existing customers, or roughly 90%, contracted for renewal during the quarter did renew, including AARP, Triumph Motorcycle, and Glasses USA.
The company not only reported $1 million in license renewals but pointed out that several customers increased the size of their licences.
“Bridgeline helps companies grow online revenue by increasing traffic to their site, converting the traffic to sales, and increasing the size of each sale,” said Bridgeline CEO Ari Kahn in a statement.
“We continue to win new customers because of this important and easy-to-understand value proposition that delivers up to a 25% increase in traffic, 35% more conversions, and a 25% increase in average order size for our customers.”
The company said it intends to announce its 3Q fiscal 2023 financial results in August.
Bridgeline Digital helps companies grow their online revenue by increasing traffic, conversion rates, and average order value.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie