Bridgeline Digital Inc (NASDAQ:BLIN) saw its second-quarter revenue rise by 43% to $4.1 million as the software company signed up more customers during the three months than in any other quarter in its history.
The company said its cross-sale strategy remained strong during the quarter, enabling it to close 33 license sales comprising nine license sales to existing customers and 24 newly won customers.
"Bridgeline had a strong quarter with the release of TruPresence, our eCommerce360 dashboard, and we won more customers this quarter than any quarter in our history," said Bridgeline president and CEO Ari Kahn in a statement.
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"Our conversion and traffic apps were particularly strong with Hawksearch and WooRank driving new sales, especially in the B2B Distributor sector. Optimizely and BigCommerce were strong partners and brought several new customers to Bridgeline," he added.
During the quarter, Bridgeline launched two new products - TruPresence, a franchise and multi-location businesses specialized software for managing multiple websites, location pages, local eCommerce, search, and reporting; and eCommerce360 Dashboard, a software providing online retailers an at-a-glance view of their site's revenue strength.
Commenting on partnerships, Bridgeline said its cooperation with Optimizely has been especially strong, driven by the advanced features of its Hawksearch product, which are important for B2B distributors such as Crescent Electric, Cleaner's Supply, Torrco and Gerrie Electric to boost conversion and average order value.
“BigCommerce continues to drive growth. Together with BigCommerce, Bridgeline now powers several manufacturers, including Berlin Packaging, Techo-Bloc and Waymaker,” the company added.
Bridgeline provided the following highlights for the three months to March 31, 2022 (year-over-year):
- Total revenue was $4.1 million, an increase of 43% from $2.9 million
- Subscription and licenses revenue was $3.3 million, an increase of 66% from $2.0 million
- Gross profit was $2.8 million, an increase of 54% from $1.8 million
- Gross margin increased to 68% compared to 63%
- Operating loss was $600,000 compared to $100,000
- Net income was $300,000 compared to a loss of $600,000
Six months to March 31, 2022 highlights (year-over-year):
- Total revenue was $8.4 million, an increase of 47% from $5.7 million
- Subscription and licenses revenue was $6.7 million, an increase of 69% from $4.0 million
- Gross profit was $5.8 million, an increase of 57% from $3.7 million
- Gross margin increased to 69% compared to 65%
- Operating loss was $1.1 million, compared to an income of $100,000
- Net income was $2.2 million, compared to a loss of $1.7 million
Investors interested to listen to a replay of the conference call hosted by CEO Kahn and CFO Thomas Windhausen on the results can call (855) 859-2056 or (404) 537-3406 with the ID: 3953635
Contact the author at jon.hopkins@proactiveinvestors.com