Exhibit 99.1

 

The Digital Engagement Company

 

 

Bridgeline Announces Earnings for Fourth Quarter of Fiscal 2019

 

 

Growth in license revenue and customer renewals paves path to profits in 2020.

 

 

Burlington, Mass., December 27, 2019 - Bridgeline Digital, Inc. (NASDAQ: BLIN), The Digital Engagement Company™, today announced financial results for its fiscal fourth quarter ended September 30, 2019.

 

“This year Bridgeline nearly tripled its customer base, added two product lines, and is now driving quarter over quarter growth in SaaS revenue which paves our path to profits in 2020,” said Ari Kahn, Bridgeline’s President and Chief Executive Officer. “Customer sentiment is strong with significant renewals across all product lines including multi-year renewals that substantially add to our revenue backlog. Bridgeline is driving new business through its Salesforce.com partnership, cross sales and account expansion within our expanded customer base, and new opportunities from our new product lines including the Artificial Intelligence capabilities in our Celebros Search product.”

 

 

Fourth Quarter Summary:

 

Total revenue for the quarter ended September 30, 2019 was $2.7 million, compared to $2.8 million for the same period last year.

 

Recurring revenue increased 16% to $1.7 million for the quarter ended September 30, 2019, from $1.4 million for the same period in 2018.

 

SaaS revenue increased 20% to $1.4 million for the quarter ended September 30, 2019, from $1.1 million for the same period last year.

 

Hosting revenue increased 20% to $0.3 million or 9% of total revenue for the quarter ended September 30, 2019, from $0.2 million or 7% of total revenue for the same quarter last year.

 

Services revenue was $1.0 million or 38% of total revenue for the quarter ended September 30, 2019, compared to $1.4 million or 48% of total revenue for the same period last year.

 

Operating expenses increased 35% or $0.8 million to $3.1 million for the quarter ended September 30, 2019 from $2.3 million for the same quarter last year. Included within the fourth quarter 2019 results are the increased costs associated with additional headcount from the two acquisitions and a goodwill impairment charge of $0.2 million for the same period ended 2018.

 

Net income for the quarter ended September 30, 2019 was $0.6 million, compared to a net loss of $1.0 million for the same quarter last year. Included within the $0.6 million of net income for the three months ended September 30, 2019 was a non-cash gain of $2.2 million attributable to the change in fair value of certain derivative warrant liabilities.

 

 

The following information was filed by Bridgeline Digital, Inc. (BLIN) on Friday, December 27, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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