Bridgeline Digital Inc (NASDAQ:BLIN) has announced its financial results for its fiscal third quarter ended June 30, revealing a strong compound annual growth rate (CAGR), according to CEO Ari Kahn.
“Bridgeline’s core products are growing by over 15% CAGR led by HawkSearch which signed over $1 million in new customer contracts this quarter,” Kahn said in a statement. “Our core products have grown to over 44% of our overall revenue and will begin to dominate our topline as they surpass our legacy products which declined in revenue this year.”
For the quarter, Bridgeline posted revenue of $3.9 million, compared to $4.2 million in the prior year period.
Subscription and license revenue was $3.2 million, down from $3.4 million in the prior year period, while services revenue was $700,000, compared to $800,000 a year earlier.
The company signed more than $1.2 million in new sales, including $600,000 in license contracts, adding more than $200,000 in annual recurring revenue and more than $600,000 in professional services.
Net loss for the period was $800,000, compared to net income of $400,000 in the year-ago quarter.
A full breakdown of the results can be found here.
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