Strong Sales for HawkSearch Products
Bridgeline signed 20 licensed sales in Q2 FY '25, adding $1.7 million in new contracts and $700,000 in annual recurring revenue, with a sales cycle of 120 days and a 19% win rate on qualified leads.
Capital Raise for Marketing Expansion
A $2.2 million capital raise was completed to expand sales and marketing, with plans to double ad spend and increase lead generation.
Core Revenue Growth
Core products, which represent 60% of subscription revenue, showed double-digit growth with net revenue retention of 113%.
HawkSearch Product Development
Launch of Smart Conversation and Smart Response features, enhancing the AI capabilities of HawkSearch.
Partnerships and Global Expansion
HawkSearch partnered with Shopware and Groove Commerce, expanding its reach in global and B2B markets.
Increase in Subscription and License Revenue
Subscription and license revenue increased to $3.1 million from $3.0 million in the prior-year period.
Improved Gross Margins
Overall gross profit margin improved to 68% from 66% in the prior-year period.