Bridgeline Digital Files 2024 Annual Report

TL;DR

Bridgeline Digital's 2024 10-K is in. Check financials and strategy.

AI Summary

Bridgeline Digital, Inc. filed its 10-K for the fiscal year ending September 30, 2024. The company, headquartered in Woburn, MA, reported financial results and provided updates on its business operations. Key financial figures and operational details are disclosed in this comprehensive annual filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Bridgeline Digital's financial health and strategic direction for the past fiscal year, influencing investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard disclosures for a public company, but the specific financial performance and forward-looking statements require careful analysis to assess potential risks.

Key Numbers

• 10,417,609 — Total Assets (Reported as of September 30, 2024)
• 10,417,609 — Total Liabilities (Reported as of September 30, 2024)
• 3,224 — Debt Instruments (Excluding PPP Liability, as of September 30, 2024)

Key Players & Entities

• Bridgeline Digital, Inc. (company) — Filer of the 10-K
• 0001378590 (company) — Central Index Key for Bridgeline Digital, Inc.
• Woburn, MA (location) — Business Address
• 0930 (date) — Fiscal Year End
• 20240930 (date) — Conformed Period of Report

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share BLIN The Nasdaq
• $1.16 — 9 million based on the closing price of $1.16 of the issuer's common stock, par value
• $4.2 million — development expenses were approximately $4.2 million or 27% of revenues and $3.7 million or
• $3.7 million — ely $4.2 million or 27% of revenues and $3.7 million or 23% of revenues during fiscal 2024 a

Filing Documents

• blin20240930_10k.htm (10-K) — 1834KB
• ex_757595.htm (EX-19.1) — 74KB
• ex_694154.htm (EX-21.1) — 2KB
• ex_694155.htm (EX-23.1) — 3KB
• ex_694156.htm (EX-31.1) — 13KB
• ex_694157.htm (EX-31.2) — 13KB
• ex_694158.htm (EX-32.1) — 6KB
• ex_694159.htm (EX-32.2) — 6KB
• 0001437749-24-038328.txt ( ) — 8958KB
• blin-20240930.xsd (EX-101.SCH) — 83KB
• blin-20240930_cal.xml (EX-101.CAL) — 69KB
• blin-20240930_def.xml (EX-101.DEF) — 529KB
• blin-20240930_lab.xml (EX-101.LAB) — 473KB
• blin-20240930_pre.xml (EX-101.PRE) — 585KB
• blin20240930_10k_htm.xml (XML) — 1338KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 13 Item 1C. Cybersecurity 13 Item 2.

Properties

Properties 13 Item 3.

Legal Proceedings

Legal Proceedings 13 Item 4. Mine Safety Disclosures 13 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 14 Item 6. [Reserved] 14 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 23 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 23 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 50 Item 9A.

Controls and Procedures

Controls and Procedures 50 Item 9B. Other Information 50 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 50 PART III. Item 10. Directors, Executive Officers and Corporate Governance 51 Item 11.

Executive Compensation

Executive Compensation 54 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 56 Item 13. Certain Relationships and Related Transactions, and Director Independence 58 Item 14. Principal Accountant Fees and Services 58 PART IV. Item 15. Exhibits and Financial Statement Schedules 59

Signatures

Signatures 3 Table of Contents Forward Looking Statement All statements included in this Annual Report on Form 10-K, other than statements or characterizations of historical fact, are forward-looking statements. These "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, are based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue,""ongoing," similar expressions, and variations or negatives of these words. These statements appear in a number of places in this Form 10-K and include statements regarding the intent, belief or current expectations of Bridgeline Digital, Inc. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions, including, but not limited to: business operations and the business of our customers, suppliers and partners; our ability to retain and upgrade current customers, increasing our recurring revenue, our ability to attract new customers, our revenue growth rate; our history of net loss and our ability to achieve or maintain profitability; our liability for any unauthorized access to our data or our users' content, including through privacy and data security breaches; any decline in demand for our platform or products; changes in the interoperability of our platform across devices, operating systems, and third party applications that we do no control; competition in our markets; our ability to respond to rapid technological changes, extend our platform, develop new features or products, or gain market acceptance for such new features or products, particularly in light of potential dis

Business

Item 1. Business. Overview Bridgeline Digital is an AI-powered marketing technology company that offers a suite of products that help companies grow online revenue by driving more visitors to their websites, converting more visitors to purchasers, and increasing average order value per purchaser. Bridgeline's software is available through a cloud-based Software as a Service ("SaaS") model. Additionally, Bridgeline's software is available via a perpetual licensing business model, in which the software can reside on premise at the customer's facility, or manage-hosted by Bridgeline. Bridgeline Digital was incorporated under the laws of the State of Delaware on August 28, 2000. The Company's corporate headquarters is located in Woburn, Massachusetts. The Company maintains regional field offices serving the following geographical locations: Woodbury, New York; Rosemont, Illinois; Atascadero, California; Ontario, Canada; and Brussels, Belgium. The Company has four wholly-owned subsidiaries: Bridgeline Digital Pvt. Ltd., located in Bangalore, India; Bridgeline Digital Canada, Inc., located in Ontario, Canada; Hawk Search Inc. located in Rosemont, Illinois and Bridgeline Digital Belgium BV, located in Brussels, Belgium. Developments Bridgeline launched multiple new product enhancements this year, particularly in the area of Artificial Intelligence ("AI") and Generative AI. The following are key capabilities of Bridgeline's software: Category Feature Capability Smart Search (Retrieval Augmentation) Concept Search NLP Multi-lingual Smart Search (Retrieval Augmentation) Visual Search Image upload via mobile devices Smart Search (Retrieval Augmentation) Image Search Search images with text Smart Response (Generative AI) Smart Summary Prompt driven analysis of results Smart Response (Generative AI) Conversational Search Thread maintained and prompt driven Smart Response (Generative AI) Smart Filters Automated facet selection Smart Tools

Risk Factors

Item 1A. Risk Factors This report contains forward-looking statements that involve risks and uncertainties, such as statements of our objectives, expectations and intentions. The cautionary statements made in this report are applicable to all forward-looking statements wherever they appear in this report. Our actual results could differ materially from those discussed herein. In addition to the risks discussed in " Management ' s Discussion and Analysis of Financial Condition and Results of Operations, " our business is subject to the risks set forth below. We operate in a rapidly changing environment that involves certain risks and uncertainties, some of which are beyond our control. The risks described below are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially adversely affect our business, financial condition and/or operating results. Risk Factors Related to our Business We have incurred significant net losses since inception and expect to continue to incur operating losses for the foreseeable future. We may never achieve or sustain profitability, which would depress the market price of our common stock and could cause you to lose all or a part of your investment. We incurred net loss of approximately $(2.0) million for the year ended September 30, 2024. Since our inception in 2000 and through fiscal 2019, in fiscal 2021, fiscal 2023 and fiscal 2024, we have incurred net losses, and may do so again. As of September 30, 2024, we had an accumulated deficit of approximately $ 92 million. Our prior losses have had an adverse effect on our stockholders' equity and working capital. Because of the numerous risks and uncertainties associated with our business, we are unable to predict the extent of any future losses or when we may become profitable. If we do become profitable, we may not be able to sustain or increase our profitability on a quarterly or annual

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View this 10-K filing on SEC EDGAR