Bridgeline Digital, Inc. (NASDAQ: BLIN) found its shares in the green Tuesday, after the release of third-quarter financial figures.
Bridgeline reported that it closed 23 license sales totaling over $690,000 in ARR in the third quarter of the fiscal year 2022. Bridgeline’s cross-selling and upsell strategy remains strong, with 11 license sales to its existing customer base on top of 12 newly-won customers.
“Here at Bridgeline we continue to win new customers and expand license revenue within our customer base at the strongest rate in our history,” said CEO Ari Kahn.
Bridgeline saw significant growth within the hardware, automotive, and finance industries adding notable companies such as Federal Credit Union, Belmetrics, and Michael Murphy Sports and Leisure.
TruPresence, Bridgeline’s franchise product suite, continues to bring in new opportunities including a recent win with a unique SEO reporting solution that offers individual location analytics and personalized SEO recommendations. Bridgeline has added over $100K in ARR this fiscal year to date for the TruPresence product suite alone.
Existing customer renewals with Bridgeline represented $1.7 million in Total Contract Value (TCV) this quarter. These 118 renewing customers include Bristol Meyers Squibb, 7-Eleven, Shell, and Triumph.
Bridgeline continues to provide services including site launches and SEO consultancy for more than a dozen customers. This quarter, Bridgeline launched over 20 projects in services for customers such as AARP International and Crescent Electric.
BLIN shares collected two cents, or 1.7%, to $1.20.
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