From GlobeNewswire:

Bridgeline Digital, Inc. announced financial results for its fiscal fourth quarter, showing a total revenue of $3.8 million, a drop compared to the prior year’s revenue of $4.2 million. The company signed more than $6 million in new customer contracts, leading to strong renewal rates and rapid sales cycles, positioning the company for growth in 2024. HawkSearch was a major driver of the company’s success, contributing nearly 50% of Bridgeline’s revenue with a revenue renewal rate of over 95%. The company also emphasized its focus on Artificial Intelligence to improve usability, productivity, and relevancy for content creators and site visitors.

Subscription and license revenue for the company was $3.1 million for the quarter, compared to $3.4 million in the prior year period, accounting for 81% of total revenue. However, operating expenses for the quarter included a goodwill impairment of $7.5 million, leading to an operating loss of $8.2 million, including the impact of the goodwill impairment. The company also experienced a net loss of $8.1 million for the quarter, including the impact of the goodwill impairment.

For the year-to-date twelve months, total revenue was $15.9 million, compared to $16.8 million in the same period of the prior year. Subscription and licenses revenue accounted for 80% of total revenue. However, operating expenses for the twelve months included a goodwill impairment of $7.5 million, leading to an operating loss of $9.9 million, including the impact of the goodwill impairment. The company also experienced a net loss of $9.4 million for the twelve months, including the impact of the goodwill impairment.

In conclusion, Bridgeline Digital, Inc. announced a drop in total revenue for the fiscal fourth quarter and year-to-date twelve months compared to the same periods in the prior year. The company highlighted its focus on Artificial Intelligence and the success of its HawkSearch product line, as well as strong renewal rates and rapid sales cycles that position the company for growth in 2024. However, the company also experienced significant losses during the same periods due to operating expenses, including a goodwill impairment.



Read more: Bridgeline Announces Financial Results for the Fourth