Mark, you have always had pretty good insight on this one, but your new opinion is baffling. What would lead you to believe that anything is moving in the positive direction? All indications are just the opposite. Other than a couple of ds deals that will take forever to recognize revenue, everything is negative. They're losing staff, customers, and cash at a heavy clip. Even the SportsClips win sounded good, but a lot of that revenue was forecasted as renewable anyway because they were an existing Elements customer.
Booking all of that $7 million in a single year- even if it's a 3 year commitment, is stupid. Subtract that deal out and it was one of their worst new bookings quarter in several years.
One query on GlassDoor will show you what that place is like. The only positive opinions are grouped together - an obvious ploy to fake some positive sentiment. The most recent one is telling:
May 6, 2014
Culture & Values
Comp & Benefits
Disapproves of CEO
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Anonymous Employee (Current Employee)
I have been working at Bridgeline Digital full-time for more than a year
Pros – Great product and great people who want desperately to succeed and help our customers succeed.
Cons – Employees are treated as expendable commodities. If the CEO no longer likes them they are verbally abused until they leave or get fired. In the last two weeks we had three senior people resign. Acting head of marketing (head of of marketing was fired) head of inside sales and VP of Delivery.
The surveillance camera in the kitchen monitoring water usage doesn't help either. It's the craziest place I've ever worked at.
Advice to Senior Management – The Board of directors should speak directly to employees. If they did they would find out that what we need is fresh leadership at the top. We need to replace a culture of fear, intimidation and knee jerk decision making with one of strong positive, clear leadership that encourages and develops employees to their maximum potential.
Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company
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Sentiment: Strong Sell
Word from the company I used to work with who is a partner of theirs is that the Sales team is 1/4 the size of it was a year ago. All of their top performers have left.
Perhaps the software at a small fraction of the price of the company. But the rest of the business and 90%+ of the revenue is outside of anything to do with UPS. UPS would obviously want NOTHING to do with all of that business.
Blue, are you insinuating that BLIN is an acquisition target for UPS? If so, that is the most insane thing I have heard on this board....ever....and that tops a very large list.
Haha. I certainly don't think I've created this opinion - it's pretty universal. I know you think my opinion just comes from that of a disgruntled few, but I can assure you it's across the board. The lack of respect people have for him is far greater than I have ever seen. And it DOES effect the business.
1). Yes it was definitely UPS Stores he was visiting. 2). Confirmed their lowest bookings quarter in 6 quarters. But then again, I don't know Jack. I wish I was wrong. I still have a decent holding. Just not large enough to tell a bogus story I guess.
Or it means that the project has gone to #$%$ and he's trying to save it! I know of at least 5 LARGE projects that have been in development for over a year - which were promised in 6 months or less. All of these include HUGE cost over-runs.
Blue - you simply don't know their business well enough. Qualcomm was a small deal for them for a very small website. Of that "average" of 300k, over 2/3 of that is typically one-time services work....but this site isn't even that large. Recurring revenue on the software side is less than 1/3 of the total. You can choose to discredit what I say, but the future will tell the truth here.
hahahaha. I can assure you've I've never worked or gotten fired from Bridgeline. And with the amount of stores, and the amount of Professional Services work they have done for UPS Stores, it created over $3 million in revenue for them last year....FAR MORE than they have received as part of the UPS Logistics partnership.
Stated in their most recent 10-k:
"We currently have over 2,500 active customers. For the years ended September 30, 2013 and 2012 no one customer represented 10% or more of the Company's total revenue."
This is not correct based on their own statements on the UPS Stores.
If someone told you that they got 600k in revenue from Qualcomm, then I have a bridge I need to sell you. If someone told you that, they are flat out lying to you.
Yes, I meant bookings...and I know that's different from revenue, but revenues come eventually from Bookings and this is their lowest in 6 quarters....guaranteed. And the people I know on the inside are at all levels of the organization, in several departments, exec team, field, operations, etc. They all were laughing at Massie's comments on the CC. They are comp'd on pipeline generation so it's always going to be high...and Massie doesn't fight for a valid pipeline because he likes reporting high numbers. Massie's only goal is to take this company private....but he has been unable to do so because no investors are biting on the opportunity.
Insane post. you offset receivables with payables. They have very little cash and the cash they have has been secured by diluting shareholder equity with private issues to Taglich.
Sorry folks....word from people I know - is that this is their lowest bookings quarter in 6 quarters.
Really? You think bringing Taglich in is a good idea? He mandated a seat because he personally has short term interest in performance. That's never good for shareholder value. Perhaps they should put someone on the Board who knows something about the industry. Look at their profiles - not a single person on the board has a clue about the industry.