BlueRush Inc. (TSXV: BTV) (OTCQB: BTVRF) Announces Q1 2022 Results With Increased Revenue And Profit

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BlueRush Inc. BTV BTVRF, a leading personalized video software as a service (SaaS) company, announced on January 4 its financial results for the three-month period ending Oct. 31, 2021. 

"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 milestones in terms of new and existing customers.

• New and expanded SaaS contracted annual recurring revenue (CARR ) for the quarter was $367,963.
• 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 percentage increased to 90% in the quarter.
• Gained new logo signed customers.
• Expanded key customers.

Going Forward

Recent BlueRush clients include three Top 15 North American banks (measured by assets under management), a Top 5 Canadian bank (measured by assets under management), two Top 10 North American Insurance providers (measured by premiums written), and a Top 5 Global Asset Management firm (measured by assets under management).

The company believes that its financial strength, coupled with its existing partnerships, may place it in a strategic position to capitalize on future gains. 

About BlueRush

BlueRush develops and markets IndiVideo™, a disruptive, award-winning interactive personalized video 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.

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