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WOBURN, Mass., October 4th, 2022 – Bridgeline Digital, Inc. (NASDAQ: BLIN), a leader in cloud-based digital experience software, today provided the following update for the end of its fourth quarter of fiscal 2022, which ended September 30, 2022.
Bridgeline reported 28 SaaS license sales totaling over $1 Million in total contract value with $340 Thousand in annual recurring revenue for its fourth quarter of fiscal year 2022. Bridgeline’s cross-selling and upsell strategy remains strong, with 13 license sales to its existing customer base on top of 15 newly won customers. Existing Bridgeline customers including HP, 7-Eleven, and SAGE Publishing expanded their commitment to Bridgeline this quarter with further investments in Bridgeline software and services.
“In 2022, Bridgeline acquired customers in new industries and expanded customer licenses through cross-selling,” said Ari Kahn, Bridgeline’s President and Chief Executive Officer. “This incremental license ARR has helped us deliver double-digit growth in Fiscal Year 2022.”
Bridgeline also saw outstanding customer subscription renewals with more than 100 renewing customers including Caterpillar, AstraZeneca, Hammacher Schlemmer, and Coca-Cola Europacific Partners. Last quarter Bridgeline announced more than 80% of its revenue was from subscriptions and it expects this to continue with subscriptions representing the vast majority of its revenue.
Bridgeline is expanding its executive team for 2023 with John Murcott joining the company as Bridgeline’s EVP Products & Strategy. Mr. Murcott brings more than 20 years of experience in the marketing technology sector to Bridgeline. He was a founding member of Ari Kahn’s first MarTech company, FatWire, which he helped build into an industry leader in Content Management before it was acquired by Oracle in 2011.
“After working with Ari firsthand to drive FatWire’s success, I look forward to joining forces again,” said John Murcott. “Bridgeline’s eCommerce360 strategy has allowed it to deliver greater value to its customers and expand its subscription revenue more quickly than other companies in the MarTech space.”
Hawksearch, Bridgeline’s site search solution, continues to lead Bridgeline’s growth with its partner network driving new customer acquisition. Bridgeline’s partnerships with Optimizely, BigCommerce, Progress Software, Adobe, and Kentico all contributed to Bridgeline’s expanded Hawksearch customer list.
Bridgeline’s eCommerce 360 growth strategy in fiscal year 2022 included partner-driven customer acquisitions and a focus on cross-selling within Bridgeline’s product suite. This strategy has continually led to a strong growth rate and more online revenue for Bridgeline customers.
Bridgeline intends to announce its full fiscal year 2022 results in December.
About Bridgeline Digital
Bridgeline helps companies grow online revenue by increasing traffic, conversion rates, and average order value. To learn more, please visit www.Bridgeline.com
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