Bridgeline Digital, Inc. (BLIN) SEC Filings

Bridgeline Digital, Inc. (BLIN) reported modest revenue growth and significantly improved profitability metrics for its fiscal third quarter ended June 30, 2026. Total Q3 revenue was $3.9 million, up from $3.8 million a year earlier, with subscription revenue flat at $3.1 million and services revenue rising to $0.8 million from $0.7 million.

Gross profit was stable at $2.5 million, though gross margin slipped to 64% from 66%. Operating expenses declined to $3.0 million from $3.2 million, reducing operating loss to $0.5 million from $0.7 million. Q3 net loss improved to $0.5 million from $0.8 million, and Adjusted EBITDA improved to $(0.1) million from $(0.3) million.

For the first nine months of fiscal 2026, revenue was $11.8 million versus $11.5 million a year earlier, while net loss narrowed to $1.0 million from $2.2 million. Adjusted EBITDA improved to $(0.0) million (a loss of $23 thousand) from $(0.8) million. Bridgeline highlighted a record-tying new logo quarter with 19 subscription contracts totaling $1.7 million in total contract value and more than $370,000 in ARR, core Net Revenue Retention of 106%, and 12-month core revenue CAGR of 13%.

Bridgeline Digital, Inc. reported total net revenue of $3.9 million for the quarter and $11.8 million for the nine months ended June 30 2026, modestly above the prior-year periods. Subscription revenue remained about four-fifths of total revenue, while services revenue grew in both periods.

The company posted a quarterly net loss of $0.5 million and a nine‑month net loss of $1.0 million, both narrower than a year earlier, with Adjusted EBITDA near breakeven for the nine months. Cash and cash equivalents were $1.5 million, long‑term debt was $0.2 million, and operating cash flow was slightly positive. Core products, led by HawkSearch, increased to $2.4 million in quarterly revenue. Bridgeline maintains a $50 million shelf registration (about $47.7 million remaining) and, on July 14 2026, established an at‑the‑market sales agreement with WestPark Capital; no shares had been sold under this ATM as of the report date.

Bridgeline Digital, Inc. will hold its 2026 Annual Meeting on September 17, 2026, with a record date of July 24, 2026 and 12,599,879 common shares entitled to vote. Stockholders will vote on electing Brandon Ross as Class III director, an advisory say‑on‑pay resolution, and ratifying PKF O’Connor Davies, LLP as auditor for fiscal 2026.

CEO Roger Kahn beneficially owns 2,747,411 shares (20.2%), and all directors and executives together hold 27.5%. Fiscal 2025 revenue was $15.4 million with a net loss of $(2.5) million; TSR rose 15% in 2025. 2025 total compensation was $934,871 for the CEO and $388,442 for the CFO, with pay heavily equity-based. A 2025 say‑on‑pay vote received about 96% support, and the Board again recommends voting FOR executive pay, director election, and auditor ratification.

Bridgeline Digital, Inc. entered into a Common Stock Sales Agreement with WestPark Capital, Inc. on July 14, 2026. The arrangement allows the company to offer and sell shares of its common stock from time to time through WestPark, acting as sales agent under an existing Form S-3 registration statement and related prospectus supplement.

Sales may be made as an at-the-market offering under Rule 415(a)(4), including on The Nasdaq Capital Market or through negotiated transactions at prices based on prevailing market levels. Bridgeline may set minimum sale prices and is not required to sell any shares. WestPark will receive a 3.0% commission on aggregate gross proceeds, plus reimbursement of expenses up to $50,000 and up to $3,500 per calendar quarter for ongoing diligence, and either party may terminate the agreement on written notice.

Bridgeline Digital, Inc. has established an at-the-market program to offer and sell, from time to time, shares of its common stock with an aggregate offering price of up to $3,950,000 through WestPark Capital as sales agent or principal.

Sales may be made on The Nasdaq Capital Market under the symbol BLIN or in negotiated transactions, with Bridgeline paying WestPark a 3.0% commission on gross proceeds plus certain expenses. The company plans to use any net proceeds primarily for working capital and other general corporate purposes, pending investment in short-term, interest-bearing instruments.

Bridgeline had 12,599,879 shares of common stock outstanding as of March 31, 2026, which could increase to up to 15,638,340 shares if 3,038,461 shares are sold at an assumed price of $1.30 per share. Based on that assumption, adjusted net tangible book value would rise from $(0.1621) to $0.1124 per share, implying dilution of $1.1876 per share to new investors.

Bridgeline Digital, Inc. reported that it has regained compliance with Nasdaq’s minimum bid price requirement. Nasdaq’s staff notified the company that the closing bid price of its common stock was at or above $1.00 per share from May 27, 2026 to June 9, 2026, satisfying Nasdaq Listing Rule 5550(a)(2). This follows a prior notice on January 29, 2026 that the company’s shares had traded below the required minimum for thirty consecutive business days. Nasdaq now considers the listing deficiency matter closed.

Bridgeline Digital, Inc. reported fiscal 2026 second-quarter results for the period ended March 31, 2026, highlighted as its best quarter ever for new customer wins and contract value. Total net revenue was $3,917K, slightly above $3,875K a year earlier, with subscription revenue of $3,118K and services revenue of $799K.

Gross profit was $2,520K, down modestly from $2,616K, while operating expenses fell to $2,946K from $3,361K, narrowing the loss from operations to $426K from $745K. Net loss improved to $432K, or $0.04 per share, compared with $730K, or $0.10 per share, in the prior-year quarter.

For the first six months of fiscal 2026, revenue reached $7,830K versus $7,666K, with net loss reduced to $518K from $1,364K. Adjusted EBITDA was a loss of $43K for the quarter, versus a loss of $239K, and a positive $79K for the six-month period compared with a loss of $432K a year earlier.

Bridgeline Digital, Inc. reported total net revenue of $3.9 million for the quarter and $7.8 million for the six months ended March 31, 2026, both slightly above the prior-year periods. The company posted a quarterly net loss of $0.4 million and a six-month net loss of $0.5 million, narrower than last year.

Gross margin eased to about mid-60% as subscription and services costs rose, while operating expenses declined, particularly in research and development and restructuring. Cash and cash equivalents were $1.4 million, with total assets of $15.3 million and long-term debt of $0.2 million.

Bridgeline highlights growth in its Core products, which generated $2.4 million of quarterly revenue and $4.8 million over six months. The company also maintains an effective Form S-3 shelf registration for up to $50 million in securities, with approximately $47.7 million remaining available as of March 31, 2026.

Bridgeline Digital, Inc. filed a current report to furnish two press releases highlighting new customer wins for its HawkSearch product and a record second quarter for new logo sales, described as the strongest in the company’s history.

One release announces that an Ohio-based wholesaler in plumbing, HVAC, and electrical trades chose HawkSearch to power product discovery across a Magento eCommerce site with more than 50,000 products in eight trade categories. The other details an 80-year-old precision metalworking manufacturer selecting HawkSearch for its WooCommerce platform and a catalog of more than 3,000 SKUs.

Both releases emphasize HawkSearch’s AI-powered search, Unit of Measure tools, personalization, and integrations with PIM, ERP, and WooCommerce to help B2B distributors and manufacturers grow online revenue. Management notes that capital raised in 2025 is supporting this growth and positioning HawkSearch as a preferred product discovery platform in wholesale and industrial markets.