10-Q Filing

BRIDGELINE DIGITAL, INC. CIK: 1378590 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001437749-23-003387`
Period End Date	20221231
Filing Date	20230214
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	blin20221231_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 38 Cash Flow Statement 56 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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.86M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.18M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.59M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	10.42M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$577.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$242.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	10.42M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	10.42M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.67M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.28M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	10.42M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$239.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$268.00K	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$539.00K	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$589.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.93M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.27M	USD	Point-in-time
Goodwill	`Goodwill`	$15.98M	USD	Point-in-time
Goodwill	`Goodwill`	$15.98M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$123.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$115.00K	USD	Point-in-time
Total assets	`Assets`	$27.48M	USD	Point-in-time
Total assets	`Assets`	$27.51M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$199.00K	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$199.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$972.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.32M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$995.00K	USD	Point-in-time
Current portion of purchase price and contingent consideration payable	`BusinessCombinationConsiderationLiabilityCurrent`	$250.00K	USD	Point-in-time
Current portion of purchase price and contingent consideration payable	`BusinessCombinationConsiderationLiabilityCurrent`	-	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$1.94M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$1.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.07M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$390.00K	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$340.00K	USD	Point-in-time
Warrant liabilities	`WarrantLiabilityNoncurrent`	$452.00K	USD	Point-in-time
Warrant liabilities	`WarrantLiabilityNoncurrent`	$749.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$686.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$646.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$7.17M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.16M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $0.001 par value; 50,000,000 shares authorized; 10,417,609 shares issued and outstanding at December 31, 2022, and September 30, 2022	`CommonStockValue`	$10.00K	USD	Point-in-time
Common stock - $0.001 par value; 50,000,000 shares authorized; 10,417,609 shares issued and outstanding at December 31, 2022, and September 30, 2022	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$100.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$100.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-80.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-80.14M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-220.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-281.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.55M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$17.58M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$20.35M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$20.30M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$27.48M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$27.51M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.08M	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.29M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$1.28M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$1.28M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.01M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.80M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.21M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.23M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$832.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$873.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$859.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$747.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$424.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$378.00K	USD	1 Quarter
Restructuring and acquisition related expenses	`RestructuringAndAcquisitionRelatedExpenses`	-	USD	1 Quarter
Restructuring and acquisition related expenses	`RestructuringAndAcquisitionRelatedExpenses`	$98.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.48M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.17M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-362.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-479.00K	USD	1 Quarter
Change in fair value of contingent consideration, interest (income) expense and other, net	`FairValueAdjustmentOfContingentConsiderationInterestIncomeExpenseAndOtherNet`	$-87.00K	USD	1 Quarter
Change in fair value of contingent consideration, interest (income) expense and other, net	`FairValueAdjustmentOfContingentConsiderationInterestIncomeExpenseAndOtherNet`	$-9.00K	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-297.00K	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-2.44M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.88M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-74.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.87M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-80.00K	USD	1 Quarter
Basic net income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic net income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Diluted net income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted net income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.42M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.19M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.43M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.63M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$1.87M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-80.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$342.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$401.00K	USD	1 Quarter
Depreciation and other amortization	`DepreciationNonproduction`	$23.00K	USD	1 Quarter
Depreciation and other amortization	`DepreciationNonproduction`	$42.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	-	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$70.00K	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-297.00K	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-2.44M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$93.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$63.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-106.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$400.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$339.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$188.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$5.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-9.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$506.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$528.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$31.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-307.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-21.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-11.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.79M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-2.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-82.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$79.00K	USD	1 Quarter
Software development capitalization costs	`PaymentsToDevelopSoftware`	-	USD	1 Quarter
Software development capitalization costs	`PaymentsToDevelopSoftware`	$46.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-64.00K	USD	1 Quarter
Payments of contingent consideration and deferred cash payable	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$2.42M	USD	1 Quarter
Payments of contingent consideration and deferred cash payable	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$250.00K	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$81.00K	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$46.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-296.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.50M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$36.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-7.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.50M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-348.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.51M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.86M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.36M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.51M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.86M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.36M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.85M	USD	Point-in-time
Interest	`InterestPaidNet`	$3.00K	USD	1 Quarter
Interest	`InterestPaidNet`	$2.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$5.00K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$19.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$17.58M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.30M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$63.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$93.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.87M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-80.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-61.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$41.00K	USD	1 Quarter
Issuance of common stock warrants exercised	`StockIssuedDuringPeriodValueWarrantsExercised`	-	USD	1 Quarter
Balance	`StockholdersEquity`	$19.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$17.58M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.30M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$1.87M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-80.00K	USD	1 Quarter
Net change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-61.00K	USD	1 Quarter
Net change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$41.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-141.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$1.91M	USD	1 Quarter

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