BlueRush Announces Strong Q1 2022 Results Including Significant New and Expansion Customer CARR, Continued Growth in Gross Profit and Subscription Revenues
BlueRush Inc. (“BlueRush” or the “Company“), a leading personalized video Software as a Service (“SaaS“) company, announced its financial results for the three-month period ended October 31, 2021 (“Q1 2022“).
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“We are extremely pleased with the way the fiscal year has started for BlueRush as we continue to see acceleration in terms of new signed customers, expansion from our existing customers and contribution from our growing partner network,” said Steve Taylor, CEO of BlueRush. “Marketers and sales teams are rapidly adopting personalized video in order to drive increased conversion metrics and provide more precise and relevant communications to their customers and prospects.”
The quarter included a number of significant milestones in terms of new and existing customers.
- New and expansion SaaS CARR (contracted annual recurring revenue) for the quarter was $367,963
- 111,440 from new logo customers
- 256,523 from expansion of existing customers
- The Company experienced zero gross churn and 100% logo retention in the quarter
- Revenue for the quarter increased 33% over Q1 2021 from $836,511 to $1,110,078
- Total Gross Profit increased by 69% over Q1 2021 from $470,053 to $795,711
- SaaS Gross Profit % increased to 90% in the quarter
- New logo signed customers:
- Top 15 North American bank (measured by assets under management)
- Top 5 Canadian bank (measured by assets under management)
- Top 10 North American Insurance provider (measured by premiums written)
- Expansion with key customers
- 2 top 15 North American Banks (measured by assets under management)
- Top 5 Global Asset Management firm (measured by assets under management)
- Top 5 North American Insurance provider (measured by premiums written)
BlueRush has demonstrated the ability to secure, retain and grow these significant relationships which creates a strong foundation for the business going forward.
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