BlueRush Inc. , a leading personalized video Software as a Service (“SaaS“) company, is pleased to announce its financial results for the fiscal year ended July 31, 2021 (“Fiscal 2021“).
“2021 was a breakthrough year on a number of fronts. We continued to see healthy growth in revenue from our SaaS business increasing by 55%, overall gross profit growing by 83%, and our gross retention rate remaining above 90%,” said Steve Taylor, CEO of BlueRush.
Mr. Taylor continued, “Probably the most compelling part of the business has been the growth in our key accounts. While we continue to secure new logo customers, we believe the growth in our existing customers is the best indicator of the value our IndiVideo technology delivers for our customers. There is no more engaging medium than video and when you add personalization, the engagement and conversion metrics become unbeatable. Our customers’ success becomes our success.”
Momentum continued into Fiscal 2022, pushing CARR (contracted annual recurring revenue) past $3 million:
Since the end of Fiscal 2021, BlueRush has seen increased sales traction in both new and expansion subscription revenue.
New and expansion CARR booked since Fiscal 2021 of $619,500 is comprised of:
Given our proven track record in growing these large accounts, these new logo wins position BlueRush well and the Company looks forward to working with these new customers.
BlueRush Highlights for the Fiscal Year 2021:
July 31, 2021 |
July 31, 2020 |
|||
Revenues |
||||
Subscriptions and support |
$ |
2,018,934 |
$ |
1,306,427 |
Services |
1,656,174 |
2,476,391 |
||
3,675,108 |
3,782,818 |
|||
Cost of Sales |
||||
Subscriptions and support |
347,845 |
391,954 |
||
Services |
1,098,891 |
1,497,711 |
||
1,446,736 |
1,889,665 |
|||
Gross profit |
2,228,372 |
1,893,153 |
||
Net loss from continuing operations |
$ |
(4,128,571) |
$ |
(3,350,093) |
per share – basic and diluted |
$ |
(0.03) |
$ |
(0.04) |
Financial Results for Fiscal 2021
The Audited Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations for Fiscal 2021, have been posted both to the BlueRush website at www.bluerush.com and on the SEDAR website at www.sedar.com. The financial information included in this news release is qualified in its entirety and should be read together with the Audited Consolidated Financial Statements, including the notes thereto, and Management’s Discussion and Analysis of Financial Condition and Results of Operations for the Fiscal 2021.
About BlueRush
Interactive Personalized Video (IPV) positions BlueRush very well to continue supporting our customers during the COVID crisis and beyond. BlueRush develops and markets IndiVideo™, a disruptive, award-winning IPV platform that drives return on investment throughout the customer lifecycle, from increased conversions to more engaging statements and customer care. IndiVideo enables BlueRush clients to capture knowledge and data from their customers’ video interaction, creating new and compelling data driven customer insights.
For more information visit http://www.bluerush.com.