10-Q Filing

BRIDGELINE DIGITAL, INC. CIK: 1378590 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001437749-21-002639`
Period End Date	20201231
Filing Date	20210211
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	blin-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 46 Cash Flow Statement 53 Stockholders Equity 15 Comprehensive Income 6

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$861.00K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$665.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$863.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$381.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$268.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$111.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$207.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.91M	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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.42M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$234.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$238.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.42M	shares	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$294.00K	USD	Point-in-time
Common Stock, Shares, Outstanding, Ending Balance	`CommonStockSharesOutstanding`	4.42M	shares	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$593.00K	USD	Point-in-time
Common Stock, Shares, Outstanding, Ending Balance	`CommonStockSharesOutstanding`	4.42M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.62M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.40M	USD	Point-in-time
Goodwill	`Goodwill`	$5.56M	USD	Point-in-time
Goodwill	`Goodwill`	$5.56M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$92.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$49.00K	USD	Point-in-time
Total assets	`Assets`	$10.66M	USD	Point-in-time
Total assets	`Assets`	$11.60M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$163.00K	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$96.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.31M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$931.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$599.00K	USD	Point-in-time
Paycheck Protection Program Liability (Note 7)	`LongTermDebtCurrent`	$88.00K	USD	Point-in-time
Paycheck Protection Program Liability (Note 7)	`LongTermDebtCurrent`	-	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$1.51M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$1.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.97M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$430.00K	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$198.00K	USD	Point-in-time
Warrant liabilities	`WarrantLiabilityNoncurrent`	$3.93M	USD	Point-in-time
Warrant liabilities	`WarrantLiabilityNoncurrent`	$2.49M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$15.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$25.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$8.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.30M	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; 4,420,170 shares issued and outstanding at December 31, 2020 and September 30, 2020	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock - $0.001 par value; 50,000,000 shares authorized; 4,420,170 shares issued and outstanding at December 31, 2020 and September 30, 2020	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$78.32M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$78.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-73.58M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-74.75M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-371.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-381.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.80M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.25M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$4.36M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.88M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$10.66M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$11.60M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.84M	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.83M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$957.00K	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$1.36M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.47M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.88M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.03M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$444.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$465.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$751.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$390.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$349.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$258.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$232.00K	USD	1 Quarter
Restructuring and acquisition related expenses	`RestructuringAndAcquisitionRelatedExpenses`	$5.00K	USD	1 Quarter
Restructuring and acquisition related expenses	`RestructuringAndAcquisitionRelatedExpenses`	$210.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.44M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$179.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-962.00K	USD	1 Quarter
Interest expense and other, net	`InterestIncomeExpenseNet`	-	USD	1 Quarter
Interest expense and other, net	`InterestIncomeExpenseNet`	$6.00K	USD	1 Quarter
Government grant income (Note 7)	`GovernmentGrantIncome`	-	USD	1 Quarter
Government grant income (Note 7)	`GovernmentGrantIncome`	$88.00K	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$1.44M	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-1.10M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.17M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$139.00K	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$-6.00K	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$136.00K	USD	1 Quarter
Dividends on convertible preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$79.00K	USD	1 Quarter
Dividends on convertible preferred stock	`PreferredStockDividendsIncomeStatementImpact`	-	USD	1 Quarter
Deemed dividend on amendment of Series A convertible preferred stock	`DeemedDividendsOnPreferredStock`	$2.31M	USD	1 Quarter
Deemed dividend on amendment of Series A convertible preferred stock	`DeemedDividendsOnPreferredStock`	-	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.26M	USD	1 Quarter
Net loss applicable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.16M	USD	1 Quarter
Basic net loss per share (in dollars per share)	`EarningsPerShareBasic`	$-0.26	USD	1 Quarter
Basic net loss per share (in dollars per share)	`EarningsPerShareBasic`	$-0.81	USD	1 Quarter
Diluted net loss per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.81	USD	1 Quarter
Diluted net loss per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.26	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.80M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.42M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.42M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.80M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$136.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$237.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$218.00K	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$16.00K	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$12.00K	USD	1 Quarter
Other amortization	`OtherDepreciationAndAmortization`	$5.00K	USD	1 Quarter
Other amortization	`OtherDepreciationAndAmortization`	$2.00K	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$1.44M	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-1.10M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$30.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$51.00K	USD	1 Quarter
Government grant income (Note 7)	`GovernmentGrantIncome`	-	USD	1 Quarter
Government grant income (Note 7)	`GovernmentGrantIncome`	$88.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$188.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$273.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$19.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$111.00K	USD	1 Quarter
Other current assets and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-28.00K	USD	1 Quarter
Other current assets and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$110.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$149.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$183.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$228.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$872.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-4.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$9.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-26.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.61M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$110.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$451.00K	USD	1 Quarter
Software development capitalization costs	`PaymentsToDevelopSoftware`	-	USD	1 Quarter
Software development capitalization costs	`PaymentsToDevelopSoftware`	$30.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-41.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$416.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$112.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$296.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.28M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$861.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$408.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$296.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$861.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$408.00K	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	$3.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Dividends accrued on convertible preferred stock	`ConvertiblePreferredDividendsNetOfTax`	$79.00K	USD	1 Quarter
Dividends accrued on convertible preferred stock	`ConvertiblePreferredDividendsNetOfTax`	-	USD	1 Quarter
Deemed dividend on amendment of Series A convertible preferred stock	`ImpactOfDeemedDividends`	-	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$3.80M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.88M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$51.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$30.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$136.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$10.00K	USD	1 Quarter
Deemed dividend on amendment of Series A convertible preferred stock (Note 8)	`ImpactOfDeemedDividends`	-	USD	1 Quarter
Balance	`StockholdersEquity`	$3.80M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.88M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$136.00K	USD	1 Quarter
Net change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Net change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$10.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$137.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.15M	USD	1 Quarter

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