Bridgeline Digital Inc. (BLIN) stock prices stayed stable over the course of the trading day on August 16th at USD$4.86. Subsequent current market fluctuations have seen the stock dip by 6.59%, bringing it down to USD$4.54.
BLIN Stock’s Revenue Reports
The third quarter of fiscal 2021 saw BLIN stock report total revenue in the amount of USD$3.4 million. Comprised of revenue from both Licenses and Services, total revenue was reported at USD$2.6 million for the quarter ended June 30th, 2020. Subscription and licenses revenue grew by 37% as compared to the prior-year quarter, while Services revenue was up by 15%.
Gross Profit and Margin
Gross profit was up 45% to USD$2.3 million for the third quarter of fiscal 2021, as compared to the USD$1.6 million reported in the prior-year quarter. Cost of revenue was also up, by 11%, to USD$1.2 million for Q3 2021, up from the USD$1.1 million reported in Q3 2020. Gross margin percentage increased to 65% for the quarter ended June 30th, 2021, as compared to the 59% reported in the prior-year quarter. Subscription and licenses gross margin percentage came in at 72% for the third quarter of fiscal 2021. This is comparable to the 64% reported for the third quarter of fiscal 2020.
Operating Expense and Profit
Operating expenses were up to USD$2.9 million for Q3 2021, up from the USD$1.4 million reported for the same time period of 2020. Quarterly totals as of June 30th, 2021 will include additional investment in sales and marketing. Acquisition-related expenses associated with the integration of Woorank and Hawksearch will also be included in the quarterly totals moving forward. Operating loss for the quarter ended June 30th, 2021 came in at USD$615,000, compared to an operating profit of USD$150,000 in Q3 2020.
BLIN Stock Poised for Success
BLIN stock reported a 31% topline growth over the third quarter of fiscal 2021. The company expects license and subscription revenue to grow by double digits in the last quarter of fiscal 2021.Q3 2021 saw the company win more license sales than ever before. BLIN has roughly USD$10 million in cash, providing a comfortable liquidity position that will accelerate its sales and marketing investments.
Future Outlook for BLIN Stock
The company reported a strong financial report for the third quarter of fiscal 2021. BLIN stock is keen to usher in organic growth over the long term with the execution of its business strategy. Investors are hopeful that this will translate into consistent gains in shareholder value.
