Q2 2024 Bridgeline Digital Inc Earnings Call Transcript
Key Points
- HawkSearch sales continue to excel, with nearly 50 licenses sold this fiscal year, totaling over $4 million in contract value.
- Bridgeline Digital Inc (BLIN) has launched innovative AI capabilities in HawkSearch, including concept search and image search, enhancing customer interaction and increasing engagement.
- The company has strong partnerships with major platforms like Big Commerce and Optimizely, which boost lead generation and market credibility.
- Recognition by top analysts and inclusion in prestigious lists, such as the top 20 eCommerce solution providers by ICON Outlook tech magazine, enhances Bridgeline's industry standing.
- Operational efficiency improvements noted with a decrease in operating expenses by $500,000 compared to the prior year period.
- Total revenue and subscription license revenue have both decreased compared to the prior year period, with total revenue down from $4.1 million to $3.8 million.
- Gross profit margin has decreased from 69% to 66% year-over-year, indicating lower profitability per dollar of revenue.
- Net loss increased from $511,000 in the prior year period to $602,000, showing increased financial strain.
- Services revenue declined both in absolute terms and as a percentage of total revenue, suggesting potential challenges in this segment.
- Despite operational efficiencies, the company reported a negative adjusted EBITDA of $83,000, though it is an improvement from the previous year.
Thank you for standing by, and welcome to Bridgeline Digital's second quarter 2024 earnings conference call.(Operator Instructions) I would now like to hand the call over to Thomas Windhausen, Chief Financial Officer. Please go ahead.
Thank you and good afternoon, everyone. Thank you for joining us today. My name is Thomas Windhausen and I'm the Chief Financial Officer of Bridgeline. I'm pleased to welcome you to our fiscal 2024 second quarter conference call.
On the call with us this afternoon is Ari Kahn, Bridgeline's President, and CEO. We'll begin the call with a discussion of business highlights. I will then update you on our financial results for the quarter. We will conclude by taking questions.
Before we begin, I'd like to remind listeners that during the conference call, comments that we make regarding Bridgeline that are not historical facts are forward-looking statements with the meaning of Section 27A of the Securities Act of 1933 and
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