Bridgeline Digital signs $6M in new customer contracts in fiscal 2023

Bridgeline Digital provided the following update for the end of its fiscal year 2023. In fiscal 2023, Bridgeline signed more than $6M in new license contracts and had a revenue renewal rate of more than 90%. The HawkSearch product line led the company’s success with HawkSearch growing to nearly 50% of Bridgeline’s revenue with a revenue renewal rate of more than 95%. In its fourth quarter, Bridgeline booked an additional 27 sales for $900 thousand in contract value that adds $375 thousand in annual recurring revenue. Bridgeline closed the fourth quarter with a 92% revenue renewal rate for $2 million in contracts, totaling $9 million in renewals for the year. “By powering product discovery, our platform enables businesses to grow revenue. Not only do we drive more visitors to websites, but we also ensure those visitors become customers and make larger purchases,” commented Ari Kahn, Bridgeline’s CEO. “Our consistent track record of boosting online visits by up to 25%, elevating conversions by 35%, and raising the average transaction value by 25% attracts many to our software.”