Bridgeline Digital Inc (NASDAQ:BLIN) saw its revenue rise by 51% year-over-year in the first quarter of 2022 off the strength of its subscription and licenses revenue.
The Woburn, Massachusetts-based technology firm posted $4.3 million in revenue in the three-month period to end December 31, 2021, an increase from $2.8 million in the same year-ago period.
The firm also swung to a profit in 1Q at $1.9 million, or $0.18 per share, compared to a net loss of $1.2 million or $0.26 per share in the comparable year-ago quarter.
READ: Bridgeline Digital says Fortune 100 tech leader goes live with its site search software
Subscription and licenses revenue, which is made up of SaaS licenses, maintenance and hosting revenue, and perpetual license revenue, came in at $3.4 million, up 71% from $2 million in the prior-year period.
Bridgeline credited the increase to the acquisitions of Hawksearch and Woorank in fiscal year 2021, as well as its overall strategy for increasing recurring subscription revenue.
Meanwhile, services revenue increased 4% to $0.9 million for the quarter ended December 31, 2021, as compared to $0.8 million in the prior-year period.
During the quarter, Bridgeline signed a multi-year agreement with a sales intelligence company to license Bridgeline’s DataBravo product to maximize new lead generation opportunities and acquire additional addressable market. It also strengthened ties with a Fortune 100 client, which purchased additional Hawksearch licenses and launched the product on its primary eCommerce site.
“Our eCommerce360 strategy continues to drive growth and differentiate Bridgeline from other MarTech companies,” said Bridgeline CEO Ari Kahn in a statement accompanying the 1Q figures.
“Thanks to the acquisitions of WooRank and Hawksearch last year, we now have over 2,000 customers and many new products. These additions not only help us win new customers but also enable us to cross-sell products to our existing customer base.”
Bridgeline helps customers maximize the performance of their digital products, from websites and intranets to online stores and marketing campaigns.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas