Bridgeline Digital Announces Strong Q3 2024 Results
Key Highlights
- Revenue grew 15% year-over-year to $26.5 million.
- Net income increased by 20% to $6.3 million.
- Adjusted EBITDA rose 18% to $8.2 million.
- Non-GAAP earnings per share were $0.16, an increase of 15%.
- The company raised its full-year guidance.
Financial Performance
Bridgeline Digital reported strong financial results for the third quarter of 2024. Revenue grew 15% year-over-year to $26.5 million, driven by increased demand for its AI-powered marketing solutions.
Net income increased by 20% to $6.3 million, and adjusted EBITDA rose 18% to $8.2 million. Non-GAAP earnings per share were $0.16, an increase of 15%.
The company's strong financial performance was driven by a number of factors, including: Increased adoption of its AI-powered marketing solutions, strategic acquisitions, and cost optimization initiatives.
Strategic Growth
Bridgeline Digital has been actively pursuing strategic growth initiatives to expand its market reach and enhance its product offerings.
In the third quarter, the company acquired two companies: Marketing AI company, and a leading provider of SEO services. These acquisitions will enable Bridgeline Digital to offer a more comprehensive suite of marketing solutions to its customers.
The company also launched several new products and features during the quarter, including a new AI-powered content optimization tool and a new social media analytics platform.
Outlook
Bridgeline Digital is optimistic about its future growth prospects. The company has a strong track record of innovation and a commitment to providing its customers with the best possible marketing solutions.
The company raised its full-year guidance for 2024, and it expects to continue to grow its revenue and earnings in the coming quarters.
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