Website analytics company WebSideStory (NASDAQ:WSSI) continues to grow at a hefty rate, but there's another catalyst that should keep things moving -- online video.

In the fiscal fourth-quarter earnings results posted earlier this week, revenues increased 55% to $18.2 million. Yet the company is still losing money, with a net loss of $1.4 million, or $0.07 per share, which compares with net income of $5.6 million, or $0.28 per share, in the same period a year ago.

Founded in 1996, WebSideStory has two key businesses. First, there's the WebSideStory division, which builds software that helps companies with keyword bid management for search marketing and traffic analytics. Next, there's the visual sciences division, which came from an acquisition in February 2006. These products help measure and analyze data from a company's website and call centers.

There's certainly a lot of demand for these types of offerings. In the fiscal fourth quarter, WebSideStory added 115 new customers to bring the total to 1,540. Some of its marquee customers include Bank of America (NYSE:BAC), AT&T (NYSE:T), JPMorgan (NYSE:JPM), and (NASDAQ:AMZN).

Based on the conference call, it also looks like management wants to get more aggressive with forming distribution alliances. For example, a recent deal is with Interwoven (NASDAQ:IWOV), which develops content management software.

Management is forecasting fiscal first-quarter revenues of $19.3 million to $19.8 million, with a net loss of $0.04 to $0.02 per share. The full-year estimate is for revenues of $89.3 million to $91.3 and net income of $0.02 to $0.14 per share. However, a new growth driver could be online video. After all, the company was able to land Google's (NASDAQ:GOOG) YouTube as a client.

New and old media are rushing into online video, and new and old alike will need to find ways to measure performance so as to monetize things. And if the premier video site is now using WebSideStory, that should be a pretty good sign that the company is nicely positioned to reap the benefits.

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Fool contributor Tom Taulli does not own shares mentioned in this article. He is ranked 2,262 out of 23,585 in Motley Fool CAPS. He is also author of the book The Complete M&A Handbook.