Bridgeline Digital Q1 2024 Earnings Call Transcript

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February 14, 2024

There are 2 speakers on the call.

Operator

Thank you for standing by, and welcome to Bridgeline Digital's First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen only mode. After the speaker presentation, there will be a question and answer I would now like to hand the call over to CFO, Tom Windhausen. Please go ahead.

Speaker 1

Thank you, and good afternoon, everyone. Thank you for joining us today. My name is Tom Lindhausen, and I'm the Chief Financial Officer of Bridgeline Digital. I'm pleased to welcome you to our fiscal 2024 Q1 conference call. On the call with us this afternoon is Ari Tan, Vergion's President and CEO, We'll begin the call with a discussion of our business highlights.

Speaker 1

I will then update you on our financial results for the quarter, and we will conclude by taking questions. Before we begin, I'd like to remind listeners that during this conference call, comments that we make regarding Bridgeline that are not historical facts are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results. These statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. The internal projections and beliefs upon which we base our This could cause BizLine's actual results to differ materially from those expressed or implied by the projections or form of these statements made today. For more detailed information about these factors and other risks that may have an impact on our business, please review the reports and documents filed from time to time by Bridgeline Digital with the and Exchange Commission.

Speaker 1

Also please note that on the call this afternoon, we will discuss some non GAAP financial measures when commenting on the company's financial performance. We provide a reconciliation of our GAAP financials to these non GAAP measures in our earnings release. You can see a copy of our earnings release by visiting our website. I would now like to turn the call over to Ari Cohn, Digimeline's President and CEO. Ari?

Speaker 1

Thank you, Tom. Good afternoon, everyone. Our Q1 of fiscal 2024 had the strongest subscription sales since IJoint Bridgeline. We signed over 2,500,000 New customer contracts with 28 license sales, adding $750,000 in ARR annual recurring revenue. Sales were driven by Hawk Search with the release of Smart Search and Rapid UI creating demand that will continue to drive new sales in the future.

Speaker 1

Search is now well over 50% of subscription revenue for the company, and that percentage is expected to increase. Subscription revenue overall is 82% of our total revenue. Professional services revenue was down this quarter to $670,000 in part because we invested in making our product out of the box with the rapid UI release last quarter that allows new customers RapidUI expands this total addressable market to include companies who seek to invest more of their budgets into the subscription and to go to market more quickly than a custom implementation would allow. These customers can use the saved budget SmartSearch is the most important product release we have ever made. It delivers a clear value proposition to our customers It increases their online revenue by allowing their customers to find products to buy that they may not have realized that they need or would not have found the traditional keyword based search.

Speaker 1

100% of Bridgeline's over 500 search customers can increase their online revenue with SmartSearch. Customers can add SmartSearch to their existing HawkSearch License for an additional subscription fee, which gives BridgeSlide an opportunity to significantly grow our Hawk Search revenue From our current customer base above and beyond the fact that SmartSearch helps us win more new customers because along with Rapid UI, it allows a new customer to make an immediate improvement to their own revenue. SmartSearch is an AI based enhancement to HawkSearch that allows a shopper to find products with more intelligent natural search. First, while shopping, you can take a photograph with your smartphone and find products on the SmartSearch powered website. Secondly, on the SmartStearns Power website, you can describe your goal to create to create shopping lists rather than have to specify the individual items that you want to buy.

Speaker 1

And thirdly, You can do all of this in more than 50 languages. Here's an example. Let's say that you have a camper planning a trip. That camper consistently asks the website, what should I bring on a 2 week camping trip for cooking? Smart search response will include all the expected products such as a cooking, soap and propane tank and will also include products such as a meal ready to eat, food pouch that the camper may not have thought about in the 1st place.

Speaker 1

The camper may then see a person on the street with cool hiking boots that they like and they can quickly snap a picture with their camera And the SmartSearch powered website can take that picture and immediately find those booths and allow that person to buy those search from the website. These experiences are not possible without SmartSearch. SmartSearch leverages the latest advancements in AI, including large language models, How products can be used and how products are related to each other. The future of online shopping It's for websites to become intelligent sales advisers who can understand your needs and recommend solutions. SmartSearch empowers your site to see and converse with customers today to help them find products that they may not have even realized they needed.

Speaker 1

From a competitive point of view, SmartShift offers natural and intelligent capabilities that do not exist elsewhere in the market. And along with rapid UI, it offers usability without the need to invest 1,000 of dollars and weeks of time inside redesigns and data integrations. Because SmartSearch is out of the box for existing HawkSearch customers, They can upgrade without a complicated technical investment or the politics that accompany changes to their customer experience and branding. HawxSearch sales are largely driven through our platform partnerships with BigCommerce, Salesforce and Optimizer. We also had agency partners, including XEngage and americaneagle.com, to help drive Hawk Search sales.

Speaker 1

Sales in the Q1 include Shadelou Yasco, an electrical distributor with 29 locations and 1,000 brands. Yesco chose HawkSearch for its unique part number search functionality that allows shoppers to make full and partial part number searches While automatically performing unit of measurement conversions, SmartSearch will go further for YASCO and allow our electrician to take a picture of a part while on the job and immediately find that part in their catalog. Another electrical distributor selected SmartSearch to enhance their e commerce offering over 700 to allow contractors to switch for products with images or describe more complex needs to the site to find electrical components. The total contract value for this enhancement is more than $875,000 A leading national insurance provider selected cost search for its custom resource portal and smartphone app. The insurance company used Rapid UI to immediately solve their clients' needs to find facts, policy information and documents in the resource library.

Speaker 1

Savion, a leader in cloud identity and access governance, collected SmartSearch to help its customer support team Its customer support team defined information across several third party knowledge bases. This is an example of what is called Federated Search, where Hawk Search indexes information from multiple repositories. A retailer specializing in agriculture and farming products Shows HawkSearch and SmartSearch to boot sales across their 25,000 product catalogs. SmartSearch will Analyzes brochures and images to allow shoppers to find products using photographs or natural language. The customer tested SmartSearch with hundreds of images taken in the field from a smartphone to ensure that their customers could find parts in the real world scenario.

Speaker 1

A leading building materials retailer selected HawkSearch to enhance their e commerce site, including product discovery in their catalog of over 5,000 products. Rainbow Resource Center, A top educational retailer selected HawkSearch to poll their e commerce sites. The HawkSearch's capability for keyword triggered promotional A leading home improvement retailer chose Hawk Search to auto complete and granular relevancy tuning that will grow its revenue significantly and streamline product discovery process with their large complex product catalog. Overall, our marketing and lead generation is focused at narrow industries, such as building supplies, where we can become the industry leader to make future sales even more efficient. We're also efficiently selling to our existing customers with products like SmartSearch to further drive revenue without and current large marketing expenses.

Speaker 1

Although cumulative subscription revenue is flat due to legacy product burn, HawkSearch has outstanding customer retention, is winning new customers rapidly and upsell opportunities within our customer base, and it continues to have double digit growth. Our partnership with Optimizely X and Games is an important part of our go to market strategy. In October, We joined Optimizely at their annual user conference where we announced HawkServe's integration with Optimizely configured commerce using an X and V connector. This announcement was filed with online webinars to further promote sales. TechSearch is now in a unique position to improve We recently announced a reseller partnership with AccessiBe, the market leader in web accessibility.

Speaker 1

Except to be held to over 180,000 companies, including PlayStation, Johnson and Johnson and NBC to improve compliance with the American Disability Act and similar legislation to Camden Europe. Bridgeline will sell its FCD to our 600 plus customers, many of whom have an active interest in accessibility, which not only increases their online sales, but also reduces litigation risk with compliance litigation legislation. HawkSearch has the only big commerce connector for search that supports multi storefront. This is a big differentiator for our BigCommerce partnership. Multi Storefront gives HawkSearch an advantage in the franchise and chain store market And recently led to a furniture store in Europe to select HawkSearch.

Speaker 1

This store will use HawkSearch's rapid UI to quickly go to market Across multiple countries in Europe and multiple languages, there's a unique user experience where users can see different furniture colors in the auto complete drop down from HartSearch's search bar. Bridgeline showcased the latest versions of this connector in May at the big with BigCommerce at the B2B Online Chicago Conference. Going forward, we expect Hawk Search to drive much of the growth for Digeloft. With investments in AI, the leading new sales and upgrades in our existing customer base. SmartSearch has been especially strong with 7 sales in just the last 2 months and a pipeline of more than $700,000 annual recurring revenue.

Speaker 1

Our go to market strategy relies on partnerships and targeted in narrow markets to maximize sales per marketing dollar. So at this time, I'd like to hand off to our Chief Financial Officer, Tom Woodhouse. Tom? Thanks, Ari. I'll provide an update on our financial results for the Q1 of fiscal 2024, which ended December 31, 2023.

Speaker 1

Total revenue for the quarter ended December 31, 2023 was $3,800,000 compared to $4,100,000 in the prior year period. Subscription and license revenue, which is comprised of SaaS licenses, maintenance and hosting revenue, for the quarter ended December 31, 2023 was 3,100,000 compared to $3,200,000 in the prior year period. As a percentage of total revenue, subscription and license revenue was 82% of total revenue for the quarter. Services revenue was $669,000 for the quarter ended December 31, 2023, a decrease from $854,000 in the prior year Q1. As a percentage of total revenue, services revenue accounted 18% of total revenue in the quarter.

Speaker 1

Cost of revenue was $1,200,000 for this quarter, a slight decrease from $1,300,000 in the prior year period. And as a result, our gross profit was $2,600,000 for the quarter as compared to $2,800,000 in the prior year period. Overall, gross profit margin was 68% for the quarter ended December 31, 2023 compared to 69% in the prior year comparable period. Subscription and license gross margins were 72% for the quarter, consistent with the prior year period, and services gross margins were 44% compared to 51% the prior year period. Operating expenses were $3,200,000 for the quarter ended December 31, 2023, consistent with $3,200,000 in the prior year period.

Speaker 1

Moving to operating expenses, the change in fair value of our liability classified warrants in the quarter resulted in noncash income of $18,000 compared to income of $300,000 in the prior year period. Net loss was 600,000,000 or And finally, adjusted EBITDA for the quarter was negative $117,000 compared to a positive $115,000 in the prior year period. Moving on to the balance sheet. At December 31, 2023, we had cash of $1,400,000 and accounts receivable of nearly 1,300,000 Our total debt outstanding as of December 31, 2023, was approximately €585,000 or US636,000 dollars That debt has a weighted average interest rate of 4.68 percent, the principal payments due through 2028. We have no other debt or any earn outs from any business, previous acquisitions.

Speaker 1

And at December 31, our total assets were $16,600,000 and our total liabilities were $5,700,000 We did have a decrease in cash in the quarter, and there was a result of timing of collections of receivables as well as timing of vendor payments. Similarly, the quarter included over $200,000 of payments to a certain partner vendor, which will not recur. Finally, I'll give an update on our cap table. As of the end of the period, December 31, 2023, our cap table included 10,400,000 outstanding shares, 39,000 shares considered to be preferred stock on an as key basis, dollars 1,700,000 warrants and $1,800,000 options. In October 2023, during the quarter, 54,000 warrants expired.

Speaker 1

Another nearly 900,000 warrants whose exercise price was $4 will expire in approximately 7 months in September 2024. After that, we'll have 800,000 warrants outstanding, Envoy including 180,000 warrants with a $2.85 exercise price expiring in May 2026, We just under $600,000 warrants with a $2.51 exercise price, which expired in November of 2026. We look forward to continued growth and success in fiscal 2024 and beyond as we see our focus on revenue growth, product innovation, customer success and delivering shareholder value. Thank you all for joining us on the call today. And at this time, I'd like to open the call for questions and answers.

Operator

Our first question comes from the line of Howard Halpern of Taglich Brothers. Your question please, Howard.

Speaker 1

Good afternoon, guys.

Operator

With all the recent innovation

Speaker 1

that you have announced, what Are we looking at now in terms of sales cycle and potential deal size And how that might translate into future growth? Great, great. So this has been a big focus of ours. We've made a lot of investments and Specifically, making our software easier to buy by allowing our customers to have immediate And the 2 big releases that happened last quarter to this end include RapidUI and SmartSearch. What Rapid UI does is it allows our customers to launch their site immediately without having to purchase Any professional services for a custom implementation.

Speaker 1

This allows us to take all of the expressive power and Hawksters that powers massive sites like hp.com and make that available for small, medium businesses that can't invest a huge amount of money in a custom implementation. It increases our total addressable market. It also changes the structure of initial deals so that our initial deals now Our primarily license and many of them have zero services whatsoever. This allows us to increase our license fee because now the budget can be allocated that way, so recurring high margin revenue. It allows us to win customers who couldn't win otherwise because they either don't have the time or they don't have the money to do a customer implementation.

Speaker 1

And it decreases our sales cycle by allowing us to avoid having to spec out a custom implementation, which takes A lot of time. And also allowing us to just immediately take the customer's website and give them a Customized demo with their own product catalog rather than a generic demo with our own catalog. So that's huge. Now in addition to that, so there is so there's rapid E was increase our TAM, our total addressable market decrease our sales cycle Shift revenues from services to subscription. What SmartSearch does And this is my background.

Speaker 1

Artificial Intelligence, I'm more passionate and excited about this. It leverages huge Advancements that have happened in the last 18 months around, what are called largest language models in artificial intelligence. A lot of us have seen the news around ChatGPT and other companies that are enabling Natural language agents to automatically converse and find information for you. Well, those fundamental libraries cost 1,000,000,000 of dollars to create. And what companies like OpenAI did a very good job Yes.

Speaker 1

It was to create interfaces so the people that don't have 1,000,000,000 of dollars can leverage those products with infrastructure Because we understand artificial intelligence very well, not just myself, but many of the engineers in our team, We're able to look at those capabilities that are now available, look very carefully at our customers and our prospective customers From a use case scenario, to connect the dots, to put that together into It's that capabilities that are very different from what you can get from other companies and it directly delivers value to our customers. Here's how we can deliver value. Okay. So the value for our customer is increasing their online revenue. And one of the challenges that they have is that their customers don't even know what they want to buy sometimes.

Speaker 1

They know what they want to do, but they don't necessarily know what they want to buy or they don't know that the online store has the products that they need. I need to fix this tractor, and I know that I need to replace a certain gear. What I don't know is that I also need to replace certain washers and other things. While I'm underneath the tractor, I can take a picture of the gearbox Thanks, Mark. So to automatically figure out what parts in the tractor supply catalog are necessary for performing that task And tell me which ones I can purchase.

Speaker 1

I might not realize I needed that washer or other component, but now I do. And instead of running down to The local tractor supply store and buying it from CFC, I'm actually buying it online from the customer that owns SmartSearch. These capabilities allow our customers to avoid revenue leakage in a huge way, Avoid their customers forgetting to buy something and they can do without it or buying something from someone else because they don't realize that they have it. Clearly, the impact. Now one of the great things that we've done is that we've made SmartSearch completely backwards compatible with our standard Hawk Search keyword capability.

Speaker 1

And this is super important because that means every single one of our Hawk Search customers You can push a button and turn on SmartSearch. So our sales cycle into our existing customers Upgrade SmartSearch is super short. Every single one of them can derive value from this. So we've got a great market right there that can increase our SmartSearch revenue by over 30% all by itself in addition to us being more competitive to other search products in the market. So these two features by themselves, we think are really important.

Speaker 1

You can see an impact in our financial statement. We do have a lot less Services revenue this quarter than we traditionally have shown, and our subscription revenue bookings don't Just P and L on day 1, we are excited that we're going to start seeing a greater revenue mix of subscription Growth of total revenue and faster sales cycles, thanks to these two products that we've got more on the plate. Okay. And talking about Sales growth, are we going to start to see now sequential sales growth as that Legacy customer has had they completely wound down and sequentially? Yes, they did.

Speaker 1

It took a year So then to wind down, this is good because we were able to get additional revenue along the way. December was the last month, which The final decrease of specifically $25,000 in MRR, and we've got Substantial resales and continuing momentum, it's to fill that hole, and we expect to start seeing growth. Okay. And one other question with regard to search. Now that is an independent product.

Speaker 1

So if you were Sell it to a new customer, is that then a potential down the road to backfill and then sell them your Hawk Search product? Yes. We have so our customers, our new customers can start with SmartSearch Or HawkSearch or both, Hawk either way, what we expect to see is that most companies will Either start with HawkSurg or start with both. We don't expect people to just do SmartSurge. And part of that is because Humans have trained themselves over the past 20 years to search for things with Keywords rather than to just say what their goals are.

Speaker 1

And as a consequence, you won't have effective results for most sites If you read the keyword search out of it for basically cultural reasons, and that's fine. And also for a lot of domain People know, especially in B2B world, exactly what product they want, so you don't want to miss out on most. So you're going to get, I think most customers buy them both or buy them HawkSearch. And the decision to upgrade to SmartSearch is, I think, very easy and it's really a financial one for most customers, whether right now it makes sense for them and based on whatever their market is. So if we can get a fax sale by just selling HawkSearch today and give them a little bit of time to reap the benefits of that and come out of back 6 months and do the upgrade that works just as well.

Speaker 1

And one last question, because I know the search It's for the stores and improve the ROI from customer inquiries. Is it also are you seeing customers who want to use it internally to help their efficiencies? We have and that's not the most common use case, but we get sales every quarter To that end, and one of the examples in even the most recent quarters is a Customer who the customer support team has a huge number of databases with You have got FAQs and other third party information, and they use search Internally, Hawk searched to find that. And an interesting use case that happened just this quarter is a customer that has thousands of business thousands of PDFs of product description that they consider proprietary information and they don't want to share that online, but they want SmartSearch to read all of that information, learn more about their products and then to be able to more intelligently help their customers find products that they need. So when you think of SmartSearch, what it can do is a couple of different components.

Speaker 1

1, Large language model that is understanding, in general what somebody is Speaking about and asking for. And then 2, what's called a vector database, and that's like the long term memory for the 1st SmartSurge that allows us to study an existing catalog, brochures about those products and so forth Understand what is in the product and then we bring those 2 together to get more intelligent results. So we can train offer proprietary internal information that you don't want shared to the outside world to just make our smart search understand your products even better and give more intelligent results for your customers. Okay. Well, thanks for the info and keep up the great work guys.

Speaker 1

Thank you,

Operator

Our next question comes from the line of Per Jacobsen. Per, your line is open.

Speaker 1

Yes. Hello. Good afternoon, guys, and happy Valentine's, I guess. That's right. That's right.

Speaker 1

Happy Valentine's, Bert. Boy, I've got to run now to the store and get Travel Abound. I guess I've got 2 things. The first thing is I really want to congratulate the team on this entry into AI in an intelligent and profitable manner. That's great to see.

Speaker 1

I really Appreciate it. That's great. So the second piece is, I guess, Can you provide some color and maybe what's the thinking here on the balance sheet situation with Back to current assets, I mean, pragmatically and I did hear the $200,000 caveat That we got before. But pragmatically, we talk about deterioration of 5 $30,000 I think, in that range on the current assets, World I Clover. Is there anything that you can tell us about this?

Speaker 1

Yes. And Tom should provide a little bit of additional detail, but I'll provide some Higher level of color, which is that, 1st and foremost, the company has sufficient cash And it has no intention of doing any capital raises to bolster that cash position. And second of all, we have the ability This fiscal year should become cash positive for that quote, so there isn't a recurring or Structural cash during challenge at all? Tom can speak a little bit more financials. Yes.

Speaker 1

We can see that decrease in our cash. If you look on the In those current assets, you're seeing the seasonality of up $200,000 or so. So that is cash flow to go out there and collect and bring that in. There's really not much in short term assets, short term liabilities that drove in the quarter, which is the timing inside receivables and payables. Okay.

Speaker 1

I guess yes, yes, thanks for that. I appreciate it. So If we have an expectation that we'll become cash flow positive, can we sort of like quantify that? When do you think that will happen? And Can you also sort of like maybe provide some color on is that driven by an execution of increased sales or reduced expenses?

Speaker 1

Or where What's that profitability going to come from? Right, right. Okay, great. So as an expectation, it will be towards the end of this Fiscal year. And it's going to be driven by increases in gross profit, not decreases in expenses.

Speaker 1

It's not going to be huge positive cash flow. It's going to be positive cash flow. We never expect to fall into less than $1,000,000 in cash. And but we don't see any need to reduce expenses. We think that Strategically continuing to invest in R and D and improve our market position, especially in artificial intelligence, generates the most long term value to the company as well as, of course, investing in marketing and winning new customers.

Speaker 1

So look at gross profit increases. And the gross profit is primarily driven through subscription at 70 3%, I think, percent, GM, this quarter versus services, and we expect that revenue mix between services and subscriptions to continue to be in the 80s? Yes. So I thought and the gross margins are quite nice. I mean, that's well done.

Speaker 1

When we look at the increases in license sales, Have we been projecting sort of a rapid increase? Or is it linear from this point out? What are we looking at? No. It's more linear, and that's The nature of that, so most of our new sales are in the 25,000 to 50,000 in annual recurring revenue per sales and generally The Hawk Search and Austin, they have an initial engagement of 24 to 36 months in that range.

Speaker 1

And we typically see 5 year total lifetime with HawkSurg customers. So if they start with a 2 or 3 year renewal, they renew several times in a row. Now because that initial deal is largely subscription. It gets recognized as revenue flow rata over the life of that initial contract. So we don't get bikes.

Speaker 1

And our current quarter, which was Outstanding and very excited about it. It is not going to be able to just generate a big spike and our Q2 from a revenue perspective, and no, it does from a booking. Now an important component to revenue growth It is net revenue retention in our IRR. And Bridgeline's products broadly fall into Two categories. We've got our growth products, which is really Hawk Surge, our When I talk about search, I talk about Hawk search.

Speaker 1

But Celebros, which is our other search product and Both those customers are migrating over to the Hawk platform. We really kind of won effort. And that Group of products has a net revenue retention in the high 90 percentile. And when we look at some of our legacy Products that have lower revenue retention and large customers that have Maybe $20,000 $30,000 in monthly recurring revenue, dollars 300,000 in annual recurring revenue. And one of the reasons we don't sell those anymore is because that whole marketplace is so expensive.

Speaker 1

It's dominated by larger players like SAP or sales force that can demand those products and they have long sales cycles. But those types of products will bleed down, and they create With a clip of revenue because of just the size that they have, and those quotes will be more apparent. Now that HAWXXY is, I think it's over 56% of our subscription revenue and growing very rapidly. Those clips become more and more muted. So this is the year, 2024, when we really start enjoying the domination Of our search platform, lots of smaller customers, Steady growth, predictable growth and the ability for us to continue to make investments and marketing and predictable revenue streams and Therefore, predictable cash flows.

Speaker 1

Okay. Yes, I appreciate that and thanks for providing that information. And with respect to The change in the product mix, I mean, that's actually really great. So with respect to the new cost The new contracts, whatever the term is that where we reached the new benchmark in the time at least that you have been here, What was the comparables in the last quarter on that? Do we have any idea of that?

Speaker 1

I'm sorry. I broke up a little The comparables in the last quarter on new customer wins? Yes. So I believe that in the press release and also in I think the number was $2,500,000 in new something. And So this most recent quarter was a little bit better than twice as big There's our previous quarter and annual recurring revenue that was 1.

Speaker 1

So we won about twice as much as we did in the previous quarter. And one of the most exciting things that we saw was that Many of the sales that we had this quarter started in the in our Q1 and ended in our first Quarter, so that speaks to the length of our sales cycle being less than 90 days for many of those sales. And then also, sweatshirt was only pre released in late October, And a lot of those sales happened in December. So we think that we've got something here that is going to allow us to grow And we need to invest in sales and marketing, not just innovation. We need to because that will feedback, it will pay for R and D.

Speaker 1

So we need to balance those investments and continue to hit those markets. And being efficient And customer acquisition costs is a big focus, and that is why we specifically look for markets that are underserved that we can win and Try to become dominant player in there like this niche market of electrical distributors that frankly wasn't even on my radar 18 months ago But now we just today, we're at the New York DOLT Conference at the Javits Center talking to electrical distributors. So those narrow markets are efficient way for us Thank you, sir.

Operator

Thank you. I would now like to turn the conference back to management for closing remarks.

Speaker 1

Well, thank you, everybody, for joining us today. I have to say this is a very exciting time in computer science. It's an opportunity for people to understand artificial intelligence to do exciting things for people who understand their customers and their markets and what those specific needs are to make a real impact. And I think that we're there to do that. We appreciate the continued support from all of our customers and our partners and, of course, our shareholders.

Speaker 1

We're excited about the business, ongoing growth prospects. We look forward to speaking with you again on our Q2 fiscal 'twenty four conference call, which will be in May. You are.

Operator

This concludes today's conference call. Thank you for participating. You may now disconnect.

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Earnings Conference Call
Bridgeline Digital Q1 2024
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