Bridgeline Signs $6M in New Customer Contracts in Fiscal 2023
October 11 2023 - 8:30AM
Bridgeline Digital, Inc. (NASDAQ: BLIN), a leading marketing
technology software company, today provided the following update
for the end of its fiscal year 2023.
In fiscal 2023, Bridgeline signed more than $6 million in new
license contracts and had a revenue renewal rate of more than 90%.
The HawkSearch product line led the company’s success with
HawkSearch growing to nearly 50% of Bridgeline’s revenue with a
revenue renewal rate of more than 95%.
In its fourth quarter, Bridgeline booked an
additional 27 sales for $900 thousand in contract value that adds
$375 thousand in annual recurring revenue. Bridgeline closed the
fourth quarter with a 92% revenue renewal rate for $2 million in
contracts, totaling $9 million in renewals for the year.
New customers include leading technology providers Spectrum
Control, Saviynt and Project Insight as well as industrial
distributors Trident and Filters Fast. Renewals included leading
enterprises in retail and consumer goods, healthcare and life
sciences, industrial suppliers, manufacturing, higher education and
more.
Bridgeline continues to win customers with HawkSearch through
its partnerships with Optimizely and BigCommerce. The company has
introduced the B2B Optimizely connector, the only onsite search
& product discovery app tailored for the B2B eCommerce
platform. This approach is complemented by Bridgeline’s partnership
with Xngage, an ecommerce associate of Optimizely, serving
customers in manufacturing, distribution, and wholesale sectors.
Bridgeline has also expanded its presence in the BigCommerce
ecosystem through a collaboration with oBundle, an agency with over
500 BigCommerce implementations.
In addition to its partnership strategies with leading software
companies, Bridgeline continues to strengthen its presence in key
B2B sectors through targeted partnerships with agencies. Its
alliances with PROS and Pimberly position the company effectively
within the manufacturing and distribution sectors. The association
with Distribution Strategy Group aims to advance HawkSearch in the
distribution sector, marked by participation in a conference on
applied AI for distributors. This partnership will also produce an
index to benchmark and assess distributor sites.
Bridgeline's partnership with Duda has led to over 1,000 new
WooRank licenses, including 400 new licenses from a leading
national health and fitness enterprise. Duda and Bridgeline plan to
continue expanding and growing their relationship through joint
marketing and interactive courses in the Duda University.
"By powering product discovery, our platform enables businesses
to grow revenue. Not only do we drive more visitors to websites,
but we also ensure those visitors become customers and make larger
purchases," commented Ari Kahn, Bridgeline’s CEO. "Our consistent
track record of boosting online visits by up to 25%, elevating
conversions by 35%, and raising the average transaction value by
25% attracts many to our software.”
Bridgeline’s ‘Soul’ release for HawkSearch builds on the
progress from the previous ‘Bronco’ and ‘Evo’ releases. This latest
release focuses on product discovery features that accelerate
conversions such as “Instant Engage” which presents visitors with
recommendations even before they start typing in the search bar,
which allows site visitors to identify and purchase products faster
than ever. The Soul release also includes a critical enterprise
feature called Multi Engine Management (MEM), which provides the
ability for a large organization to manage hundreds of engines from
a single centralized instance, while allowing the local Admins to
make changes directly to their HawkSearch environment. The MEM
feature also comes with Advanced Analytics that allows managers
supporting multiple engines to see either aggregated or detailed
reports across their multiple engine implementation.
The Soul release also included additional Advanced Analytics
reports. These reports for HawkSearch users include:
- Daily Searches
- Daily Spelling Suggestions
(New)
- Queries with Poor Results (New)
- Top Queries
- Conversion Tracking (New)
- Conversion Tracking List (New)
The Soul release also includes a User Guide portal for end users
to complement the developer portal that was included in the ‘Evo’
release earlier in the year. The portal is available from the
HawkSearch site or directly at:
https://userguide.hawksearch.com.
Bridgeline also launched sites for several leading brands
including Spectrum Controls, Seattle Aviation, Central Garden &
Pet, and Valken.
Bridgeline plans to announce its fourth quarter fiscal year 2023
results in December.
Contact:Danielle ErwinSVP of MarketingBridgeline
Digitalpress@bridgeline.com
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