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BLIN

Bridgeline Digital, Inc.

BLIN

Bridgeline Digital, Inc. • NASDAQ
$1.00 ▲ 2.57% (+0.03)
Market Cap $12.09 M
52w High $2.80
52w Low $0.90
Dividend Yield 0%
P/E -3.7
Volume 17.68K
Outstanding Shares 12.09M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.846M ▼ $3.237M ▼ $-789K ▼ -20.515% ▼ $-0.066 ▲ $-481K ▲
Q2-2025 $3.875M ▲ $3.361M ▲ $-730K ▼ -18.839% ▼ $-0.1 ▼ $-518K ▼
Q1-2025 $3.791M ▼ $3.046M ▼ $-634K ▼ -16.724% ▼ $-0.061 ▼ $-438K ▼
Q4-2024 $3.863M ▼ $3.134M ▲ $-432K ▼ -11.183% ▼ $-0.042 ▼ $-292K ▼
Q3-2024 $3.936M $2.835M $-305K -7.749% $-0.029 $-129K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.103M ▼ $16.148M ▼ $6.199M ▼ $9.949M ▼
Q2-2025 $2.751M ▲ $17.019M ▲ $6.429M ▲ $10.59M ▲
Q1-2025 $1.483M ▲ $15.545M ▼ $5.995M ▲ $9.55M ▼
Q4-2024 $1.39M ▲ $15.602M ▼ $5.596M ▼ $10.006M ▼
Q3-2024 $1.2M $15.965M $5.627M $10.338M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-789K ▼ $-565K ▼ $-5K ▼ $-96K ▼ $-648K ▼ $-570K ▼
Q2-2025 $-730K ▼ $-372K ▼ $-2K ▲ $1.654M ▲ $1.268M ▲ $-374K ▼
Q1-2025 $-634K ▼ $178K ▼ $-5K $-83K ▼ $93K ▼ $173K ▼
Q4-2024 $-432K ▼ $217K ▲ $-5K ▲ $-20K ▲ $190K ▲ $212K ▲
Q3-2024 $-305K $0 $-19K $-84K $-102K $-19K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Hosting
Hosting
 $0 ▲$0 ▲$0 ▲$0 ▲
Maintenance
Maintenance
 $0 ▲$0 ▲$0 ▲$0 ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Subscription and Circulation
Subscription and Circulation
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Bridgeline runs a very small but fairly stable software business with revenue that has been more flat than growing in recent years. Gross profit is steady, but operating and net income hover around break-even with occasional small losses or profits. Earnings per share have been volatile, likely reflecting changes in share count and one-time items rather than dramatic swings in the underlying business. Overall, the income statement shows a company that has not yet achieved clear, consistent profitability or strong top-line momentum, but also isn’t burning large amounts relative to its size.

Balance Sheet

Balance Sheet The balance sheet is lean, with a modest asset base and a relatively small equity cushion, consistent with a micro-cap software company. Cash on hand is limited, but the absence of debt reduces financial pressure and interest obligations. This combination suggests a capital-light model but also limited room to absorb major setbacks without raising additional capital. Historical reverse stock splits hint at prior share price pressure and past dilution, underscoring that the balance sheet, while not over-levered, is not especially robust either.

Cash Flow

Cash Flow Cash flows appear to be roughly around break-even, with operating cash flow and free cash flow not showing strong positive trends but also not indicating severe cash burn. Capital spending is minimal, which fits a software model and helps conserve cash. The flip side is that internal cash generation is not yet strong enough to clearly fund aggressive growth plans, so disciplined cost control and careful investment choices remain important for the company’s financial flexibility.

Competitive Edge

Competitive Edge Bridgeline competes in a crowded marketing technology and eCommerce infrastructure space dominated by larger players, but it has carved out some focused niches. Its strengths lie in an integrated platform strategy, AI-powered site search, and tools tailored for franchises, multi-location businesses, and B2B eCommerce. Deep integration with Salesforce, especially via OrchestraCMS, is a notable differentiator for customers already committed to that ecosystem. However, its small size, limited resources, and the intense pace of innovation in marketing tech mean its competitive position depends heavily on execution, partner relationships, and its ability to stand out against much bigger rivals.

Innovation and R&D

Innovation and R&D The company is clearly oriented around innovation, especially in AI-driven search, recommendations, and digital experience tools. Products like HawkSearch, OrchestraCMS, and the Unbound platform show meaningful investment in advanced features such as conversational search, image search, and Salesforce-native content management. Management’s focus on “agentic AI” and automation suggests a roadmap aimed at keeping the technology current and differentiated. At the same time, shifting some resources from R&D toward sales and marketing indicates that the core platform is more mature, but it also introduces the risk that future innovation could slow if not managed carefully.

Summary

Bridgeline is a small, niche software provider focused on AI-powered eCommerce and digital experience technology. Financially, it operates near break-even with modest scale, a clean but thin balance sheet, and cash flows that are neither strongly positive nor deeply negative. Strategically, it benefits from specialized products, strong integration with Salesforce, and a clear focus on helping customers increase online revenue. Key uncertainties include its ability to accelerate growth, convert innovation into recurring, profitable revenue, and maintain a competitive edge in a fast-moving, well-funded industry. Overall, it is an emerging, higher-risk profile typical of micro-cap technology firms with promising technology but limited financial cushion.

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