10-Q Filing

BRIDGELINE DIGITAL, INC. CIK: 1378590 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001437749-19-002662`
Period End Date	20181231
Filing Date	20190214
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	blin-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 39 Cash Flow Statement 76 Comprehensive Income 6

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$644.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$748.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Accounts receivable and unbilled receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$2.27M	USD	Point-in-time
Accounts receivable and unbilled receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$1.72M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$472.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$452.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$75.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$21.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.92M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$57.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$80.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.24M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$17.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	14.08M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$20.00K	USD	Point-in-time
Goodwill	`Goodwill`	$12.64M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.24M	shares	Point-in-time
Goodwill	`Goodwill`	$4.05M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	14.08M	shares	Point-in-time
Goodwill	`Goodwill`	$7.78M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$280.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$232.00K	USD	Point-in-time
Total assets	`Assets`	$11.00M	USD	Point-in-time
Total assets	`Assets`	$9.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.58M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$480.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$580.00K	USD	Point-in-time
Debt, current	`LongTermDebtCurrent`	$198.00K	USD	Point-in-time
Debt, current	`LongTermDebtCurrent`	$1.02M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$594.00K	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$935.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.77M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.83M	USD	Point-in-time
Debt, net of current portion	`LongTermDebtNoncurrent`	$2.57M	USD	Point-in-time
Debt, net of current portion	`LongTermDebtNoncurrent`	$2.32M	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$203.00K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$234.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.58M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - $0.001 par value; 50,000,000 shares authorized; 14,081,259 shares and 4,241,225 shares at December 31, 2018 and at September 30, 2018 issued and outstanding	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock - $0.001 par value; 50,000,000 shares authorized; 14,081,259 shares and 4,241,225 shares at December 31, 2018 and at September 30, 2018 issued and outstanding	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$70.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$66.55M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-61.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-66.73M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-351.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-351.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.92M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$4.42M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$11.00M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$9.27M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.38M	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.97M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$1.34M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$1.96M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.01M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.03M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$814.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.03M	USD	1 Quarter
Support	`SupportExpenses`	$91.00K	USD	1 Quarter
Support	`SupportExpenses`	$74.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$687.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$736.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$407.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$418.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$108.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$26.00K	USD	1 Quarter
Goodwill impairment	`GoodwillImpairmentLoss`	$3.73M	USD	1 Quarter
Goodwill impairment	`GoodwillImpairmentLoss`	$4.86M	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.35M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.77M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-343.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.73M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-217.00K	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-86.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-429.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.95M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.96M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-430.00K	USD	1 Quarter
Dividends on convertible preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$79.00K	USD	1 Quarter
Dividends on convertible preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$75.00K	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-505.00K	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.03M	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.46	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.20M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.01M	shares	1 Quarter

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.96M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-430.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnDispositionOfAssets1`	$-9.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$242.00K	USD	Annual
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$72.00K	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$20.00K	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$36.00K	USD	1 Quarter
Other amortization	`OtherDepreciationAndAmortization`	$16.00K	USD	1 Quarter
Other amortization	`OtherDepreciationAndAmortization`	$15.00K	USD	1 Quarter
Goodwill impairment	`GoodwillImpairmentLoss`	$3.73M	USD	1 Quarter
Goodwill impairment	`GoodwillImpairmentLoss`	$4.86M	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	-	USD	1 Quarter
Debt discount amortization	`AmortizationOfDebtDiscountPremium`	$22.00K	USD	1 Quarter
Debt discount amortization	`AmortizationOfDebtDiscountPremium`	$150.00K	USD	1 Quarter
Change in fair value of warrant	`FairValueAdjustmentOfWarrants`	$-12.00K	USD	1 Quarter
Change in fair value of warrant	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$97.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$125.00K	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$182.00K	USD	1 Quarter
Accounts receivable and unbilled receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$546.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$55.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-28.00K	USD	1 Quarter
Other current assets and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-5.00K	USD	1 Quarter
Other current assets and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$10.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-499.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-37.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$344.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-86.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-61.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$68.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$3.40M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-145.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.55M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-575.00K	USD	1 Quarter
Software development capitalization costs	`PaymentsToDevelopSoftware`	$11.00K	USD	1 Quarter
Software development capitalization costs	`PaymentsToDevelopSoftware`	-	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.00K	USD	1 Quarter
Proceeds from issuance of common stock and Series B convertible preferred stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStockAndPreferredStockNet`	-	USD	1 Quarter
Proceeds from issuance of common stock and Series B convertible preferred stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStockAndPreferredStockNet`	$4.38M	USD	1 Quarter
Proceeds from term notes from Montage Capital, net of issuance costs	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from term notes from Montage Capital, net of issuance costs	`ProceedsFromIssuanceOfLongTermDebt`	$953.00K	USD	1 Quarter
Borrowing on bank line of credit	`ProceedsFromLinesOfCredit`	$300.00K	USD	1 Quarter
Borrowing on bank line of credit	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Payments on bank line of credit	`RepaymentsOfLinesOfCredit`	$201.00K	USD	1 Quarter
Payments on bank line of credit	`RepaymentsOfLinesOfCredit`	$300.00K	USD	1 Quarter
Principal payments on term notes from Montage Capital	`RepaymentsOfDebt`	-	USD	1 Quarter
Principal payments on term notes from Montage Capital	`RepaymentsOfDebt`	$125.00K	USD	1 Quarter
Principal payments on promissory term notes	`RepaymentsOfSubordinatedDebt`	-	USD	1 Quarter
Principal payments on promissory term notes	`RepaymentsOfSubordinatedDebt`	$941.00K	USD	1 Quarter
Cash dividends paid on Series A convertible preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$79.00K	USD	1 Quarter
Cash dividends paid on Series A convertible preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.03M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$953.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.46M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$369.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.10M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$644.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$748.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$644.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$748.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Interest	`InterestPaidNet`	$64.00K	USD	1 Quarter
Interest	`InterestPaidNet`	$185.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$9.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$4.00K	USD	1 Quarter
Accrued dividends on convertible preferred stock	`DividendsPayableCurrentAndNoncurrent`	$76.00K	USD	Point-in-time
Accrued dividends on convertible preferred stock	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-4.96M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-430.00K	USD	1 Quarter
Other Comprehensive Income : Net change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Other Comprehensive Income : Net change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.96M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-429.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.