From GlobeNewswire:

Bridgeline Digital, Inc. reported financial results for the fourth quarter and fiscal year 2023, emphasizing $6 million in new customer contracts in FY23. The company’s revenue was primarily driven by core products like HawkSearch, leading to strong renewal rates and rapid sales cycles.

The financial highlights for the fourth quarter of fiscal year 2023 included a total revenue of $3.8 million, with subscription and licenses revenue accounting for $3.1 million. Bridgeline’s software enhancements focused on Artificial Intelligence to improve usability, productivity, and relevancy for content creators and site visitors, positioning the company as a leader in eCommerce for growth in 2024.

However, the company reported an operating loss for the quarter ended September 30, 2023, due to goodwill impairment. The warrant liability revaluation resulted in a non-cash gain attributed to the change in the fair value of the warrant liabilities. For the twelve months ended September 30, 2023, Bridgeline reported a total revenue of $15.9 million, with subscription and licenses revenue at $12.7 million.

Overall, while Bridgeline Digital, Inc. showed positive growth in core products such as HawkSearch, the company reported operating losses for the quarter and year due to goodwill impairment and warrant liability revaluation.



Read more: Bridgeline Announces Financial Results for the Fourth