Bridgeline Digital Inc (NASDAQ: BLIN) reported Q4 net income of $0.6 million, versus year-ago net loss of $1.0 million. Its total revenue slipped to $2.7 million from $2.8 million.
The Burlington, Mass.-based company, boasting its status as "The Digital Engagement Company:, also said Friday 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.
Operating expenses increased 35% to $3.1 million from $2.3 million for the quarter ended September 30, 2019 and 2018. Included within these amounts are the increased costs associated with additional headcount from the two acquisitions and goodwill impairment charges of $0.2 million for the applicable quarters ended September 30, 2019 and 2018.
Loss from operations for the periods ended September 30, 2019 were $1.5 million, compared to losses of $0.9 million in 2018.
Said CEO Ari Khan, "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."
Adjusted EBITDA loss for the quarter ended September 30, 2019 is $1.2 million, compared to $0.4 million for the same period in 2018.
Shares started the penultimate day of 2019 up 17 cents, or 9%, to $2.05
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