Q3 2024 Bridgeline Digital Inc Earnings Call Transcript
Key Points
- HawkSearch's tailored AI approach has doubled the average sale size and secured new customers weekly.
- Bridgeline Digital Inc (BLIN) has launched multiple AI-driven features such as concept search, image search, visual search, and Smart Response.
- The company sold 23 licenses this quarter, contributing $420,000 in ARR and $1.4 million in TCV.
- HawkSearch has been recognized by leading analysts like Gartner and Info-Tech Research Group, driving demand and increasing average sales price.
- Strategic partnerships with Optimizely and BigCommerce are accelerating sales and providing significant market exposure.
- Total revenue for the quarter remained flat at $3.9 million compared to the prior year period.
- Subscription license revenue decreased slightly from $3.2 million to $3 million year-over-year.
- Despite improvements, the company still reported a net loss of $300,000 for the quarter.
- Gross profit margins for subscription licenses slightly decreased from 73% to 72% year-over-year.
- The company has a relatively small cash reserve of $1.2 million, which may limit its ability to make significant investments.
Good day and thank you for standing by. Welcome to the Bridgeline Digital Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question-and-answer session. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Tom Windhausen, Chief Financial Officer. Please go ahead.
Thank you, and good afternoon, everyone. Thank you for joining us today. My name is Thomas Windhausen, I'm the Chief Financial Officer of Bridgeline Digital.
I'm pleased to welcome you to our fiscal 2024 third quarter conference call. On the call with us this afternoon is Ari Kahn, Bridgeline's President and CEO, who will begin the call with a discussion of our business highlights. I will then update you on our financial results for the quarter. And we will conclude by taking questions.
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