Bridgeline Digital Inc (NASDAQ: BLIN) reported strong revenue and gross profit growth for its fiscal third quarter, powered by the company’s intelligent product search and recommendation engine, Hawksearch.
The marketing technology software company said revenue for the three months ended June 30, 2022 rose 22% to $4.2 million from a year earlier, while gross profit rose 30%. % to $2.9 million compared to the same period in 2021.
“Bridgeline continues to see strong demand, particularly for our site finding products,” Bridgeline President and CEO Ari Kahn said in a statement announcing the results. “Hawksearch is driving our growth through strong partnerships with platforms including BigCommerce, Kentico, Optimizely, and Sitefinity.”
READ: Bridgeline Digital says Procon Products chose its Hawksearch AI search platform to boost revenue
Bridgeline said net profit for the quarter was $400,000, reversing a loss of $3.6 million for the prior year period, while gross margin fell from 65% to 70% at the same period in 2021.
Subscription and licensing revenue increased 29% to $3.4 million for the quarter ended June 30, 2022, representing 81% of total revenue compared to 76% for the same period in 2021, while Services revenue was unchanged at $800,000 from the prior year. , representing 19% of total revenue versus 24% a year ago.
The company closed 23 license sales during the third quarter thanks to its strong cross-selling strategy, Bridgeline said, adding that 11 subscription sales were to existing customers and 12 to new customers.
Bridgeline helps businesses grow online revenue by increasing traffic, conversion rate, and average order value through its Unbound platform and suite of applications.
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