Bridgeline Digital, Inc. (NASDAQ: BLIN), a global leader in
AI-powered marketing technology, today announced financial results
for its fiscal second quarter ended March 31, 2024.
“Fresh off our record sales in the first
quarter, our Zeus product launch featuring Smart Search has been a
remarkable success in Q2 and will continue to be a major sales
focus in 2024 and beyond,” said Ari Kahn, Bridgeline’s President
and Chief Executive Officer. “Smart Search is an AI-powered product
discovery technology that increases sales conversion on eCommerce
sites through text and image-based search. Bridgeline’s
partnerships further boost Smart Search sales with platforms such
as Optimizely and Big Commerce placing HawkSearch prominently in
their app stores.”
Financial Highlights – Second Quarter of
Fiscal Year 2024
- Total revenue was
$3.8 million, compared to $4.1 million in the prior year
period.
- Subscription and
licenses revenue was $3.0 million, compared to $3.3 million in the
prior year period.
- Gross profit was
$2.5 million, compared to $2.8 million in the prior year
period.
- Gross margin was 66%
compared to 69% in the prior year period.
Financial Highlights – First 6 Months of
Fiscal Year 2024
- Total revenue was
$7.6 million, compared to $8.2 million in the prior year
period.
- Subscription and
licenses revenue was $6.1 million, compared to $6.5 million in the
prior year period.
- Gross profit was
$5.1 million, compared to $5.6 million in the prior year
period.
- Gross margin was 67%
compared to 69% in the prior year period.
Product Highlights
- HawkSearch launched 23 sites over the last 24 weeks, with 5
more scheduled to go live this month. Many of these sites are in
partnership with Optimizely and BigCommerce where we have connector
apps prominently available in their app stores.
- In late March we launched Smart Search’s Zeus release, which
introduces two new ways to search: Concept Search and Image Search.
This changes how customers interact with search, leading to
increased engagement and revenue for businesses. Smart Search uses
AI large language models and vector databases, and retrieval
augmented generation to process customer queries through text or
images. Image Search allows a customer to upload an image of a
product, and HawkSearch will show similar items for purchase.
Concept Search lets users describe their needs in natural language,
and HawkSearch finds relevant products or information.
Partner Highlights
- BigCommerce –
HawkSearch is featured on the first page of the Big Commerce app
store. Big Commerce partnered with HawkSearch at the B2B Online
Chicago conference to help their customers understand how
HawkSearch can increase online sales.
- Optimizely –
HawkSearch is recognized by Optimizely as a top paid app in their
app store. HawkSearch and Optimizely have partnered in several
online webinars and have launched several customer websites
recently.
- CSS Commerce is
introducing HawkSearch’s AI-powered SmartSearch to hundreds of
BigCommerce and Magento customers.
- Springthrough Agency
will leverage Bridgeline’s HawkSearch AI technology to grow revenue
for eCommerce websites on the Sitefinity platform. The partnership
allows thousands of Progress Sitefinity customers easy access to
HawkSearch AI-powered search. Springthrough brings knowledge and
expertise as a Premier Sitefinity Partner and a recipient of the
Sitefinity Champion Award.
- Moblico, a leader
in mobile engagement solutions for wholesale distributors, will
leverage Bridgeline's HawkSearch to grow revenue for distributors
through mobile search. HawkSearch and Moblico will be hosting a
joint session on AI mobile search at the Applied AI for
Distributors Conference at Marriott Chicago O’Hare on Tuesday, June
4th, 2024.
Customer Highlights
- Bridgeline sold
nearly 50 new licenses this fiscal year to companies such as Agri
Supply, Max Warehouse, Nail Gun Depot, Rainbow Resource, and
Trusted Choice.
- Schaedler Yesco
Distribution, an electrical distributor with over 29 locations
representing over 1,000 brands has implemented Bridgeline's
HawkSearch on its Optimizely powered eCommerce site using the
Xngage Connector for HawkSearch.
- Voltus, a leading German electrical
distributor, has selected Bridgeline to power site search for its
eCommerce site. Voltus aims to increase online revenue by using
Bridgeline’s AI-powered site search for its online catalog of
80,000 products.
- An electrical distribution leader
has implemented HawkSearch to power their eCommerce site on the
Optimizely platform. HawkSearch will enhance the distributor's
revenue, already over $200 million annually, through its AI-powered
search bar that offers a more personalized user experience.
- A manufacturer of automotive
accessories opted for HawkSearch to improve the eCommerce
experience on both its main site in the United States and its
international brand site. The manufacturer has selected HawkSearch
to boost revenue by improving product discovery within its catalog
of over 7,000 SKUs. The manufacturer will leverage HawkSearch
Recommendations to provide a personalized shopping experience,
encouraging exploration of the retailer’s diverse range of products
and streamlining the customer’s decision-making process.
- A building supplies chain selected
HawkSearch for its eCommerce site to boost its revenue by improving
product discovery within its catalog of over 40,000 products. The
retailer will use HawkSearch Recommendations to provide
personalized shopping for customers and product recommendations
that increase the average size of each order.
- A leading office furniture
manufacturer has implemented HawkSearch on its eCommerce site. The
manufacturer will use HawkSearch AI to increase online revenue for
over 500,000 product searches per month. HawkSearch AI will
increase conversions through features such as autocomplete which
leads to faster conversion for each search query.
Other Highlights
-
Bridgeline has been recognized as one of the top 20 E-commerce
solution providers of 2024 by Icon Outlook Technology Magazine.
This accolade underscores Bridgeline’s innovations as an e-commerce
solution provider, including the recent launch of HawkSearch’s
Smart Search, the AI technology powering online sales through
concept and image search.
-
Ari Kahn, has been recognized as one of the top 20 visionary CEOs
of 2024 by CEO Outlook Magazine.
Financial Results –
Second Quarter of Fiscal Year 2024
- Total revenue,
which is comprised of Licenses and Services revenue, was $3.8
million for the quarter ended March 31, 2024, as compared to $4.1
million for the same period in 2023.
- Subscription and
licenses revenue, which is comprised of SaaS licenses, maintenance
and hosting revenue and perpetual license revenue was $3.0 million
for the quarter ended March 31, 2024, as compared to $3.3 million
for the same period in 2023. As a percentage of total revenue,
Subscription and licenses revenue was 79% of total revenue for the
quarter ended March 31, 2024, compared to 80% for the same period
in 2023.
- Services revenue
was $0.8 million for the quarter ended March 31, 2024, as compared
to $0.8 million for the same period in 2023. As a percentage of
total revenue, Services revenue accounted for 21% of total revenue
for the quarter ended March 31, 2024, compared to 20% for the same
period in 2023.
- Cost of revenue
of $1.3 million for the quarter ended March 31, 2024, was
consistent with the $1.3 million for the same period in 2023. Gross
profit was $2.5M for the quarter ended March 31, 2024, as compared
to $2.8 million for the same period in 2023.
- Gross margin was
66% for the quarter ended March 31, 2024, as compared to 69% for
the same period in 2023. Subscription and licenses gross margin
were 71% for three months ended March 31, 2024, as compared to 74%
for the same period in 2023. Services gross margins were 47% for
the three months ended March 31, 2024, as compared to 49% for the
same period in 2023.
- Operating
expenses were $3.0 million for the quarter ended March 31, 2024, as
compared to $3.5 million for the same period in 2023.
- Operating loss
for the quarter ended March 31, 2024, was $0.5 million, as compared
to $0.7 million for the same period in 2023.
- The warrant
liability revaluation resulted in a $25 thousand non-cash loss
attributable to the change in the fair value of the warrant
liabilities for the quarter ended March 31, 2024. This compares to
a net gain from revaluation of $171 thousand for the same period in
2023.
- Net loss for the
quarter ended March 31, 2024, was $0.6 million, compared to a net
loss of $0.5 million for the same period in 2023.
Financial Results –
First 6 Months of Fiscal Year 2024
- Total revenue,
which is comprised of Licenses and Services revenue, was $7.6
million for the six months ended March 31, 2024, as compared to
$8.2 million for the same period in 2023.
- Subscription and
licenses revenue, which is comprised of SaaS licenses, maintenance
and hosting revenue and perpetual license revenue was $6.1 million
for the six months ended March 31, 2024, as compared to $6.5
million for the same period in 2023. As a percentage of total
revenue, Subscription and licenses revenue was 81% of total revenue
for the six months ended March 31, 2024, compared to 80% for the
same period in 2023.
- Services revenue
was $1.5 million for the six months ended March 31, 2024, as
compared to $1.7 million for the same period in 2023. As a
percentage of total revenue, Services revenue accounted for 19% of
total revenue for the six months ended March 31, 2024, compared to
20% for the same period in 2023.
- Cost of revenue
was $2.5 million for the six months ended March 31, 2024, as
compared to $2.5 million for the same period in 2023. Gross profit
was $5.1 million for the six months ended March 31, 2024, as
compared to $5.6 million for the same period in 2023.
- Gross margin was
67% for the six months ended March 31, 2024, as compared to 69% for
the same period in 2023. Subscription and licenses gross margin
were 72% for the six months ended March 31, 2024, as compared to
74% for the same period in 2023. Services gross margin was 46% for
the six months ended March 31, 2024, as compared to 50% for the
same period in 2023.
- Operating
expenses were $6.2 million for the six months ended March 31, 2024,
as compared to $6.7 million for the same period in 2023.
- Operating loss
for the six months ended March 31, 2024, was $1.2 million, as
compared to an operating loss of $1.0 million for the same period
in 2023.
- The warrant
liability revaluation resulted in a $7 thousand non-cash loss
attributable to the change in the fair value of the warrant
liabilities for the six months ended March 31, 2024. This compares
to a net gain from revaluation of $468 thousand for the same period
in 2023.
- Net loss for the
six months ended March 31, 2024, was $1.2 million, compared to a
net loss of $0.6 million for the same period in 2023.
Conference Call
Bridgeline Digital, Inc. will hold a conference
call today, May 14, 2024, at 4:30 p.m. Eastern Time to discuss
these results. The Company’s President and Chief Executive Officer,
Ari Kahn, and Chief Financial Officer, Thomas Windhausen, will host
the call, followed by a question and answer period.
The details of the conference call and replay are as
follows:
Bridgeline Digital Second Quarter 2024 Earnings
Call
Tuesday, May 14, 2024, at 4:30 p.m. ET
https://register.vevent.com/register/BI42f1ba1d13914dd0a2e04a4a44ab5bb1
Participants can register for the conference call using the
above URL above. Once registered, participants will receive dial-in
numbers and unique PIN number.
Replays of the conference call will be available through the
following link:
https://edge.media-server.com/mmc/p/hq9nipce
Non-GAAP Financial Measures
This press release contains the following
Non-GAAP financial measures: Adjusted EBITDA, Non-GAAP adjusted net
income (loss), and Non-GAAP adjusted net earnings (loss) per
diluted share.
Adjusted EBITDA is defined as earnings before
interest, taxes, depreciation, amortization, stock-based
compensation expense, impairment of goodwill and intangible assets,
non-cash warrant related income/expense, changes in fair value of
contingent consideration, restructuring and acquisition-related
costs, amortization of debt discounts, preferred stock dividends
and any related tax effects. Bridgeline uses Adjusted EBITDA and
Non-GAAP adjusted net income (loss) as supplemental measures of our
performance that are not required by, or presented in accordance
with, accounting principles generally accepted in the United States
("GAAP").
Non-GAAP adjusted net income (loss) and Non-GAAP
adjusted net income (loss) per diluted share are calculated as net
income (loss) or net income (loss) per share on a diluted basis,
excluding, where applicable, amortization of intangible assets,
change in fair value of warrants, stock-based compensation,
restructuring and acquisition-related costs, goodwill impairment
charges, preferred stock dividends and any related tax effects.
Bridgeline's management does not consider these
Non-GAAP measures in isolation or as an alternative to financial
measures determined in accordance with GAAP. The principal
limitation of these Non-GAAP financial measures is that they
exclude significant expenses and income that are required by GAAP
to be recorded in the Company's financial statements. In addition,
they are subject to inherent limitations as they reflect the
exercise of judgments by management about which expenses and income
are excluded or included in determining these Non-GAAP financial
measures. To compensate for these limitations, Bridgeline
management presents Non-GAAP financial measures in connection with
GAAP results. Bridgeline urges investors to review the
reconciliation of its Non-GAAP financial measures to the comparable
GAAP financial measures, which is included in this press release,
and not to rely on any single financial measure to evaluate
Bridgeline's financial performance.
Our definitions of Non-GAAP Adjusted EBITDA and
adjusted net income (loss) may differ from and therefore may not be
comparable with similarly titled measures used by other companies,
thereby limiting their usefulness as comparative measures. As a
result of the limitations that Adjusted EBITDA and Non-GAAP
adjusted net income (loss) have as an analytical tool, investors
should not consider them in isolation, or as a substitute for
analysis of our operating results as reported under GAAP.
Safe Harbor for Forward-Looking Statements
Statement under the Private Securities Litigation Reform
Act of 1995
All statements included in this press release,
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 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, instability in the financial markets, including the
banking sector; 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
not 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
disruptions to the productivity of our employees resulting from
remote work; our ability to manage our growth or plan for future
growth, and our acquisition of other businesses and the potential
of such acquisitions to require significant management attention,
disrupt our business, or dilute stockholder value; the volatility
of the market price of our common stock, the ability to maintain
our listing on the NASDAQ Capital Market; or our ability to
maintain an effective system of internal controls as well as other
risks described in our filings with the Securities and Exchange
Commission. Any of such risks could cause our actual results to
differ materially and adversely from those expressed in any
forward-looking statement. Bridgeline Digital, Inc. assumes no
obligation to, and does not currently intend to, update any such
forward-looking statements after the date of this release, except
as required by applicable law.
About Bridgeline Digital
Bridgeline is a marketing technology company
that offers a suite of products that help companies grow online
revenue by driving more traffic to their websites, converting more
visitors to purchasers, and increasing average order value.
To learn more, please visit www.bridgeline.com
or call (800) 603-9936.
Contact:
Bridgeline Digital, Inc.Thomas R. WindhausenChief Financial
Officertwindhausen@bridgeline.com
|
|
|
|
|
|
|
|
|
|
|
|
BRIDGELINE
DIGITAL, INC. |
|
CONSOLIDATED
STATEMENTS OF OPERATIONS |
|
(in thousands,
except share and per share data) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
Six Months
Ended |
|
|
|
|
|
March 31, |
|
March 31, |
|
|
|
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
Subscription and perpetual licenses |
|
$ |
3,010 |
|
|
$ |
3,273 |
|
|
$ |
6,096 |
|
|
$ |
6,502 |
|
|
|
Digital engagement services |
|
|
794 |
|
|
|
821 |
|
|
|
1,463 |
|
|
|
1,675 |
|
|
|
|
Total net
revenue |
|
|
3,804 |
|
|
|
4,094 |
|
|
|
7,559 |
|
|
|
8,177 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue: |
|
|
|
|
|
|
|
|
|
|
Subscription and perpetual licenses |
|
|
860 |
|
|
|
840 |
|
|
|
1,687 |
|
|
|
1,701 |
|
|
|
Digital engagement services |
|
|
420 |
|
|
|
422 |
|
|
|
796 |
|
|
|
840 |
|
|
|
|
Total cost
of revenue |
|
|
1,280 |
|
|
|
1,262 |
|
|
|
2,483 |
|
|
|
2,541 |
|
|
|
|
Gross
profit |
|
|
2,524 |
|
|
|
2,832 |
|
|
|
5,076 |
|
|
|
5,636 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
Sales and marketing |
|
|
941 |
|
|
|
1,386 |
|
|
|
1,854 |
|
|
|
2,595 |
|
|
|
General and administrative |
|
|
766 |
|
|
|
756 |
|
|
|
1,547 |
|
|
|
1,588 |
|
|
|
Research and development |
|
|
1,037 |
|
|
|
926 |
|
|
|
2,130 |
|
|
|
1,673 |
|
|
|
Depreciation and amortization |
|
|
299 |
|
|
|
381 |
|
|
|
684 |
|
|
|
759 |
|
|
|
Restructuring and acquisition related expenses |
|
|
- |
|
|
|
45 |
|
|
|
15 |
|
|
|
45 |
|
|
|
|
Total
operating expenses |
|
|
3,043 |
|
|
|
3,494 |
|
|
|
6,230 |
|
|
|
6,660 |
|
|
|
Loss from operations |
|
|
(519 |
) |
|
|
(662 |
) |
|
|
(1,154 |
) |
|
|
(1,024 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense and other, net |
|
|
(53 |
) |
|
|
(10 |
) |
|
|
(53 |
) |
|
|
(19 |
) |
|
|
Change in fair value of warrant liabilities |
|
|
(25 |
) |
|
|
171 |
|
|
|
(7 |
) |
|
|
468 |
|
|
Income (loss) before income taxes |
|
|
(597 |
) |
|
|
(501 |
) |
|
|
(1,214 |
) |
|
|
(575 |
) |
|
|
Provision for (benefit from) income taxes |
|
|
5 |
|
|
|
10 |
|
|
|
10 |
|
|
|
16 |
|
|
Net (loss) income |
|
$ |
(602 |
) |
|
$ |
(511 |
) |
|
$ |
(1,224 |
) |
|
$ |
(591 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income per share attributable to common
shareholders: |
|
|
|
|
|
|
|
|
|
Basic net (loss) income per share |
|
$ |
(0.06 |
) |
|
$ |
(0.05 |
) |
|
$ |
(0.12 |
) |
|
$ |
(0.06 |
) |
|
|
Diluted net (loss) income per share |
|
$ |
(0.06 |
) |
|
$ |
(0.05 |
) |
|
$ |
(0.12 |
) |
|
$ |
(0.06 |
) |
|
Number of weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
|
10,417,609 |
|
|
|
10,417,609 |
|
|
|
10,417,609 |
|
|
|
10,417,609 |
|
|
|
Diluted |
|
|
10,430,602 |
|
|
|
10,430,710 |
|
|
|
10,430,602 |
|
|
|
10,430,766 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BRIDGELINE
DIGITAL, INC. |
|
CONSOLIDATED
BALANCE SHEETS |
|
(in thousands,
except share and per share data) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
March
31, |
|
September
30, |
|
|
|
|
|
|
2024 |
|
|
|
2023 |
|
|
Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
1,302 |
|
|
$ |
2,377 |
|
|
|
Accounts receivable, net |
|
|
1,462 |
|
|
|
1,004 |
|
|
|
Prepaid expenses and other current assets |
|
|
388 |
|
|
|
278 |
|
|
|
|
|
Total
current assets |
|
|
3,152 |
|
|
|
3,659 |
|
|
Property and equipment, net |
|
|
84 |
|
|
|
151 |
|
|
Operating lease assets |
|
|
246 |
|
|
|
390 |
|
|
Intangible assets, net |
|
|
4,278 |
|
|
|
4,890 |
|
|
Goodwill, net |
|
|
8,468 |
|
|
|
8,468 |
|
|
Other assets |
|
|
54 |
|
|
|
73 |
|
|
|
|
|
Total
assets |
|
$ |
16,282 |
|
|
$ |
17,631 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Current portion of long-term debt |
|
$ |
273 |
|
|
$ |
267 |
|
|
|
Current portion of operating lease liabilities |
|
|
165 |
|
|
|
148 |
|
|
|
Accounts payable |
|
|
1,204 |
|
|
|
1,255 |
|
|
|
Accrued liabilities |
|
|
796 |
|
|
|
995 |
|
|
|
Deferred revenue |
|
|
2,161 |
|
|
|
2,084 |
|
|
|
|
|
Total
current liabilities |
|
|
4,599 |
|
|
|
4,749 |
|
|
Long-term debt, net of current portion |
|
|
339 |
|
|
|
435 |
|
|
Operating lease liabilities, net of current portion |
|
|
81 |
|
|
|
241 |
|
|
Warrant liabilities |
|
|
181 |
|
|
|
174 |
|
|
Other long-term liabilities |
|
|
577 |
|
|
|
572 |
|
|
|
|
|
Total
liabilities |
|
|
5,777 |
|
|
|
6,171 |
|
|
|
|
|
|
|
|
|
|
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity: |
|
|
|
|
|
|
Preferred stock - $0.001 par value; 1,000,000
shares authorized; |
|
|
|
|
|
|
|
Series C Convertible Preferred stock: 11,000 shares authorized; 350
shares issued and outstanding at March 31, 2024 and September 30,
2023 |
|
|
- |
|
|
|
- |
|
|
|
Common stock - $0.001 par value; 50,000,000
shares authorized; |
|
|
|
|
|
|
|
10,417,609 shares issued and outstanding at March 31, 2024 and
September 30, 2023 |
|
|
10 |
|
|
|
10 |
|
|
|
Additional paid-in-capital |
|
|
101,569 |
|
|
|
101,275 |
|
|
|
Accumulated deficit |
|
|
(90,801 |
) |
|
|
(89,577 |
) |
|
|
Accumulated other comprehensive loss |
|
|
(273 |
) |
|
|
(248 |
) |
|
|
|
|
Total
stockholders' equity |
|
|
10,505 |
|
|
|
11,460 |
|
|
|
|
|
Total
liabilities and stockholders' equity |
|
$ |
16,282 |
|
|
$ |
17,631 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BRIDGELINE
DIGITAL, INC. |
|
RECONCILIATION OF GAAP TO NON-GAAP RESULTS |
|
(in thousands,
except per share data) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
Six Months
Ended |
|
|
|
|
March 31, |
|
March 31, |
|
|
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
Reconciliation of GAAP net income (loss) to Adjusted
EBITDA: |
|
|
|
|
|
|
|
|
|
|
GAAP net
loss |
|
$ |
(602 |
) |
|
$ |
(511 |
) |
|
$ |
(1,224 |
) |
$ |
(591 |
) |
|
|
Provision
for income taxes |
|
|
5 |
|
|
|
10 |
|
|
|
10 |
|
|
|
16 |
|
|
|
Interest
expense and other, net |
|
|
53 |
|
|
|
10 |
|
|
|
53 |
|
|
|
19 |
|
|
|
Change in
fair value of warrants |
|
|
25 |
|
|
|
(171 |
) |
|
|
7 |
|
|
|
(468 |
) |
|
|
Amortization
of intangible assets |
|
|
266 |
|
|
|
344 |
|
|
|
612 |
|
|
|
686 |
|
|
|
Depreciation
and other amortization |
|
|
41 |
|
|
|
45 |
|
|
|
86 |
|
|
|
87 |
|
|
|
Restructuring and acquisition related charges |
|
|
- |
|
|
|
45 |
|
|
|
15 |
|
|
|
45 |
|
|
|
Stock-based
compensation |
|
|
129 |
|
|
|
84 |
|
|
|
241 |
|
|
|
177 |
|
|
|
Adjusted
EBITDA |
|
$ |
(83 |
) |
|
$ |
(144 |
) |
|
$ |
(200 |
) |
|
$ |
(29 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of GAAP net income (loss) to
non-GAAP |
|
|
|
|
|
|
|
|
|
adjusted net income (loss): |
|
|
|
|
|
|
|
|
|
|
GAAP net
loss |
|
$ |
(602 |
) |
|
$ |
(511 |
) |
|
$ |
(1,224 |
) |
$ |
(591 |
) |
|
|
Change in
fair value of warrants |
|
|
25 |
|
|
|
(171 |
) |
|
|
7 |
|
|
|
(468 |
) |
|
|
Amortization
of intangible assets |
|
|
266 |
|
|
|
344 |
|
|
|
612 |
|
|
|
686 |
|
|
|
Restructuring and acquisition related charges |
|
|
- |
|
|
|
45 |
|
|
|
15 |
|
|
|
45 |
|
|
|
Stock-based
compensation |
|
|
129 |
|
|
|
84 |
|
|
|
241 |
|
|
|
177 |
|
|
|
Non-GAAP
adjusted net income (loss) |
|
$ |
(182 |
) |
|
$ |
(209 |
) |
|
$ |
(349 |
) |
|
$ |
(151 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of GAAP net earnings (loss) per diluted
share to |
|
|
|
|
|
|
|
|
|
non-GAAP adjusted net earnings (loss) per diluted
share: |
|
|
|
|
|
|
|
|
|
|
GAAP net
loss per diluted share |
|
$ |
(0.06 |
) |
|
$ |
(0.05 |
) |
|
$ |
(0.12 |
) |
|
$ |
(0.06 |
) |
|
|
Change in
fair value of warrants |
|
|
0.00 |
|
|
|
(0.02 |
) |
|
|
0.00 |
|
|
|
(0.04 |
) |
|
|
Amortization
of intangible assets |
|
|
0.03 |
|
|
|
0.03 |
|
|
|
0.06 |
|
|
|
0.07 |
|
|
|
Restructuring and acquisition related charges |
|
|
- |
|
|
|
0.00 |
|
|
|
0.00 |
|
|
|
0.00 |
|
|
|
Stock-based
compensation |
|
|
0.01 |
|
|
|
0.01 |
|
|
|
0.02 |
|
|
|
0.02 |
|
|
|
Non-GAAP
adjusted net loss per diluted share |
|
$ |
(0.02 |
) |
|
$ |
(0.02 |
) |
|
$ |
(0.03 |
) |
|
$ |
(0.01 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Bridgeline Digital (NASDAQ:BLIN)
Historical Stock Chart
From Jul 2024 to Aug 2024
Bridgeline Digital (NASDAQ:BLIN)
Historical Stock Chart
From Aug 2023 to Aug 2024