Bridgeline Digital, Inc.
For the period ended Jun 30, 2025. Filed Aug 14, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 14, 2025
BLIN$0.62-7.3%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-03-31; filed 2025-05-15.
0001437749-25-017251
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-06-30; filed 2025-08-14.
0001437749-25-026998
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 134 previous paragraphs and 138 current paragraphs.
76 unchanged; 45 reworded; 16 added; 12 removed; 1 previous and 1 current paragraphs rearranged.
Tables are not compared: 4 previous and 4 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (16)
Current report
Revenue from digital engagement services of $0.7 million for the three months ended June 30, 2025 decreased from $0.9 million for the three months ended June 30, 2024.
Current report
Revenue from digital engagement services of $2.3 million for the nine months ended June 30, 2025 decreased from $2.4 million for the nine months ended June 30, 2024.
Current report
Cost of subscription and perpetual licenses of $2.7 million for the nine months ended June 30, 2025 increased from $2.5 million for the nine months ended June 30, 2024.
Current report
Cost of digital engagement services of $1.1 million for the nine months ended June 30, 2025 decreased from $1.2 million for the nine months ended June 30, 2024.
Current report
Gross profit of $7.7 million for the nine months ended June 30, 2025 decreased from $7.8 million for the nine months ended June 30, 2024.
Current report
Sales and marketing expenses of $3.4 million for the nine months ended June 30, 2025 increased from $2.8 million for the nine months ended June 30, 2024.
Current report
General and administrative expenses of $2.3 million for the nine months ended June 30, 2025 decreased from $2.4 million for the nine months ended June 30, 2024.
Current report
The decreased for each of the comparable periods is primarily attributable to personnel costs.
Current report
Research and development expenses of $3.1 million for the nine months ended June 30, 2025 remained consistent with $3.1 million for the nine months ended June 30, 2024.
Current report
The decrease for the three months ended June 30, 2025 was primarily attributable to lower personnel costs.
Current report
Depreciation and amortization expenses of $0.2 million for the three months ended June 30, 2025 remained consistent with $0.2 million for the three months ended June 30, 2024.
Current report
Depreciation and amortization expense was $0.6 million and $0.9 million for the nine months ended June 30, 2025 and 2024, respectively.
Current report
The decrease for the nine months ended June 30, 2025 is primarily attributable to certain intangible assets that have become fully amortized.
Current report
Interest expense and other, net, was $(126) thousand and $(5) thousand for the three months ended June 30, 2025 and 2024, respectively.
Current report
Interest expense and other, net, was $(135) thousand and $(58) thousand for the nine months ended June 30, 2025 and 2024, respectively.
Current report
The increase is primarily the result of stock-based compensation from restricted stock issued to board members in the three months ended June 30, 2025.
Removed paragraphs (12)
Previous report
Revenue from digital engagement services of $0.8 million for the three months ended March 31, 2025 remained consistent with $0.8 million for the three months ended March 31, 2024.
Previous report
Revenue from digital engagement services of $1.6 million for the six months ended March 31, 2025 increased from $1.5 million for the six months ended March 31, 2024.
Previous report
Cost of subscription and perpetual licenses of $1.8 million for the six months ended March 31, 2025 increased from $1.7 million for the six months ended March 31, 2024.
Previous report
Cost of digital engagement services of $0.8 million for the six months ended March 31, 2025 remained consistent with $0.8 million for the six months ended March 31, 2024.
Previous report
Gross profit of $5.2 million for the six months ended March 31, 2025 increased from $5.1 million for the six months ended March 31, 2024.
Previous report
Sales and marketing expenses of $2.1 million for the six months ended March 31, 2025 increased from $1.9 million for the six months ended March 31, 2024.
Previous report
General and administrative expenses of $1.6 million for the six months ended March 31, 2025 increased from $1.5 million for the six months ended March 31, 2024.
Previous report
Research and development expenses of $2.2 million for the six months ended March 31, 2025 increased from $2.1 million for the six months ended March 31, 2024.
Previous report
Depreciation and amortization expense was $0.2 million and $0.3 million for the three months ended March 31, 2025 and 2024, respectively.
Previous report
Depreciation and amortization expense was $0.4 million and $0.7 million for the six months ended March 31, 2025 and 2024, respectively.
Previous report
Interest expense and other, net, was $(5) thousand and $(53) thousand for the three months ended March 31, 2025 and 2024.
Previous report
Interest expense and other, net, was $(9) thousand and $(53) thousand for the six months ended March 31, 2025 and 2024.
Reworded paragraphs (45)
Previous wording
We currently have over 2,000 active customers. For the three and six months ended March 31, 2025 and 2024, no customer exceeded 10% of our revenue.
Current wording
We currently have over 2,000 active customers. For the three and nine months ended June 30, 2025 and 2024, no customer exceeded 10% of our revenue.
Previous wording
Results of Operations for the Three and Six Months Ended March 31, 2025 compared to the Three and Six Months Ended March 31, 2024
Current wording
Results of Operations for the Three and Nine Months Ended June 30, 2025 compared to the Three and Nine Months Ended June 30, 2024
Previous wording
Total net revenue for each of the three months ended March 31, 2025 and 2024, was $3.9 million. We had net loss of $(0.7) million and $(0.6) million for the three months ended March 31, 2025 and 2024, respectively. Included in the net loss for the three months ended March 31, 2025 and 2024, was a gain of $25 thousand and a loss of $(25) thousand, respectively, as a result of the change in fair value of certain warrant liabilities. Basic and diluted loss per share attributable to common shareholders was $ (0.10) and $ (0.06) for the three months ended March 31, 2025 and 2024, respectively.
Current wording
Total net revenue for each of the three months ended June 30, 2025 and 2024, was $3.8 million and $3.9 million, respectively. We had net loss of $(0.8) million and $(0.3) million for the three months ended June 30, 2025 and 2024, respectively. Included in the net loss for the three months ended June 30, 2025 and 2024, was a gain of $31 thousand and a gain of $88 thousand, respectively, as a result of the change in fair value of certain warrant liabilities. Basic and diluted loss per share attributable to common shareholders was $ (0.07) and $ (0.03) for the three months ended June 30, 2025 and 2024, respectively.
Previous wording
Total net revenue for each of the six months ended March 31, 2025 and 2024, was $7.7 million and $7.6 million, respectively. We had net loss of $(1.4) million and $(1.2) million for the six months ended March 31, 2025 and 2024, respectively. Included in the net loss for the six months ended March 31, 2025 and 2024, was a loss of $(89) thousand and a loss of $(7) thousand, respectively, as a result of the change in fair value of certain warrant liabilities. Basic and diluted loss per share attributable to common shareholders was $ (0.16) and $ (0.12) for the six months ended March 31, 2025 and 2024, respectively.
Current wording
Total net revenue for each of the nine months ended June 30, 2025 and 2024, was $11.5 million and $11.5 million, respectively. We had net loss of $(2.2) million and $(1.5) million for the nine months ended June 30, 2025 and 2024, respectively. Included in the net loss for the nine months ended June 30, 2025 and 2024, was a loss of $(58) thousand and a gain of $81 thousand, respectively, as a result of the change in fair value of certain warrant liabilities. Basic and diluted loss per share attributable to common shareholders was $ (0.23) and $ (0.15) for the nine months ended June 30, 2025 and 2024, respectively.
Previous wording
Revenue from subscription (SaaS) and perpetual licenses of $6.1 million for the six months ended March 31, 2025 remained consistent with $6.1 million for the six months ended March 31, 2024.
Current wording
Revenue from subscription (SaaS) and perpetual licenses of $9.2 million for the nine months ended June 30, 2025 increased from $9.1 million for the nine months ended June 30, 2024.
Previous wording
Subscription and perpetual licenses revenue as a percentage of total revenue of 80% for the six months ended March 31, 2025 decreased from 81% for the six months ended March 31, 2024.
Current wording
Subscription and perpetual licenses revenue as a percentage of total revenue of 81% for the three months ended June 30, 2025 increased from 77% for the three months ended June 30, 2024.
Previous wording
Subscription and perpetual licenses revenue as a percentage of total revenue of 79% for the three months ended March 31, 2025 remained consistent with 79% for the three months ended March 31, 2024.
Current wording
Subscription and perpetual licenses revenue as a percentage of total revenue of 80% for the nine months ended June 30, 2025 increased from 79% for the nine months ended June 30, 2024.
Previous wording
Digital engagement services revenue as a percentage of total revenue of 20% for the six months ended March 31, 2025 increased from 19% for the six months ended March 31, 2024.
Current wording
Digital engagement services revenue as a percentage of total revenue of 19% for the three months ended June 30, 2025 decreased from 23% for the three months ended June 30, 2024.
Previous wording
Digital engagement services revenue as a percentage of total revenue of 21% for the three months ended March 31, 2025 remained consistent with 21% for the three months ended March 31, 2024.
Current wording
Digital engagement services revenue as a percentage of total revenue of 20% for the nine months ended June 30, 2025 decreased from 21% for the nine months ended June 30, 2024.
Previous wording
The increase in revenue from digital engagement services as a percentage of total revenue for the six months ended March 31, 2025 was a result of additional services volumes in the six months ended March 31, 2025.
Current wording
The decrease in revenue from digital engagement services for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 was a result of additional services volumes in the three months ended June 30, 2024, which included a large customer project.
Previous wording
Total cost of revenue of $1.3 million for the three months ended March 31, 2025 remained consistent with $1.3 million for the three months ended March 31, 2024.
Current wording
Total cost of revenue of $1.3 million for the three months ended June 30, 2025 increased from $1.2 million for the three months ended June 30, 2024.
Previous wording
Total cost of revenue of $2.5 million for the six months ended March 31, 2025 remained consistent with $2.5 million for the six months ended March 31, 2024.
Current wording
Total cost of revenue of $3.8 million for the nine months ended June 30, 2025 increased from $3.7 million for the nine months ended June 30, 2024.
Previous wording
Cost of subscription and perpetual licenses of $0.9 million for the three months ended March 31, 2025 remained consistent with $0.9 million for the three months ended March 31, 2024.
Current wording
Cost of subscription and perpetual licenses of $0.9 million for the three months ended June 30, 2025 increased from $0.8 million for the three months ended June 30, 2024.
Previous wording
The cost of subscription and perpetual licenses as a percentage of subscription and perpetual licenses revenue was 28% for the three months ended March 31, 2025 and 2024.
Current wording
The cost of subscription and perpetual licenses as a percentage of subscription and perpetual licenses revenue was 30% and 28% for the three months ended June 30, 2025 and 2024, respectively.
Previous wording
The cost of subscription and perpetual licenses as a percentage of subscription and perpetual licenses revenue was 29% and 28% for the six months ended March 31, 2025 and 2024, respectively.
Current wording
The cost of subscription and perpetual licenses as a percentage of subscription and perpetual licenses revenue was 29% and 28% for the nine months ended June 30, 2025 and 2024, respectively.
Previous wording
Cost of digital engagement services of $0.4 million for the three months ended March 31, 2025 remained consistent with $0.4 million for the three months ended March 31, 2024.
Current wording
Cost of digital engagement services of $0.4 million for the three months ended June 30, 2025 decreased from $0.4 million for the three months ended June 30, 2024.
Previous wording
The cost of total digital engagement services as a percentage of total digital engagement services revenue was 48% and 53% for the three months ended March 31, 2025 and 2024, respectively.
Current wording
The cost of total digital engagement services as a percentage of total digital engagement services revenue was 50% and 42% for the three months ended June 30, 2025 and 2024, respectively.
Previous wording
The cost of total digital engagement services as a percentage of total digital engagement services revenue was 48% and 54% for the six months ended March 31, 2025 and 2024, respectively.
Current wording
The cost of total digital engagement services as a percentage of total digital engagement services revenue was 49% for each of the nine months ended June 30, 2025 and 2024.
Previous wording
The decrease in cost of digital engagement services is primarily due to lower personnel costs.
Current wording
The changes in cost of digital engagement services is primarily due to lower personnel costs.
Previous wording
Gross profit of $2.6 million for the three months ended March 31, 2025 increased from $2.5 million for the three months ended March 31, 2024.
Current wording
Gross profit of $2.5 million for the three months ended June 30, 2025 decreased from $2.7 million for the three months ended June 30, 2024.
Previous wording
The gross profit margin was 68% and 66% for the three months ended March 31, 2025 and 2024, respectively.
Current wording
The gross profit margin was 66% and 69% for the three months ended June 30, 2025 and 2024, respectively.
Previous wording
The gross profit margin was 67% for the six months ended March 31, 2025 and 2024.
Current wording
The gross profit margin was 67% and 68% for the nine months ended June 30, 2025 and 2024, respectively.
Previous wording
Sales and marketing expenses of $1.1 million for the three months ended March 31, 2025 increased from $0.9 million for the three months ended March 31, 2024.
Current wording
Sales and marketing expenses of $1.3 million for the three months ended June 30, 2025 increased from $0.9 million for the three months ended June 30, 2024.
Previous wording
Sales and marketing expense as a percentage of total revenue was 28% and 25% for the three months ended March 31, 2025 and 2024, respectively.
Current wording
Sales and marketing expense as a percentage of total revenue was 34% and 24% for the three months ended June 30, 2025 and 2024, respectively.
Previous wording
Sales and marketing expense as a percentage of total revenue was 27% and 25% for the six months ended March 31, 2025 and 2024, respectively.
Current wording
Sales and marketing expense as a percentage of total revenue was 29% and 24% for the nine months ended June 30, 2025 and 2024, respectively.
Previous wording
The increase compared to the prior periods is primarily attributable to higher personnel costs and higher marketing spend on leads and conferences.
Current wording
The increase for the nine months ended June 30, 2025 compared to the prior periods is primarily attributable to higher personnel costs and higher marketing spend on leads and conferences.
Previous wording
General and administrative expenses of $0.8 million for the three months ended March 31, 2025 remained consistent with $0.8 million for the three months ended March 31, 2024.
Current wording
General and administrative expenses of $0.8 million for the three months ended June 30, 2025 decreased from $0.9 million for the three months ended June 30, 2024.
Previous wording
General and administrative expense as a percentage of total revenue was 20% for each of the three months ended March 31, 2025 and 2024.
Current wording
General and administrative expense as a percentage of total revenue was 20% and 22% for the three months ended June 30, 2025 and 2024.
Previous wording
General and administrative expense as a percentage of total revenue was 20% and 20% for the six months ended March 31, 2025 and 2024.
Current wording
General and administrative expense as a percentage of total revenue was 20% and 21% for the nine months ended June 30, 2025 and 2024.
Previous wording
Research and development expenses of $1.1 million for the three months ended March 31, 2025 increased from $1.0 million for the three months ended March 31, 2024.
Current wording
Research and development expenses of $1.0 million for the three months ended June 30, 2025 decreased from $1.0 million for the three months ended June 30, 2024.
Previous wording
Research and development expenses as a percentage of total revenue was 29% and 27% for the three months ended March 31, 2025 and 2024, respectively.
Current wording
Research and development expenses as a percentage of total revenue was 25% and 26% for the three months ended June 30, 2025 and 2024, respectively.
Previous wording
Research and development expenses as a percentage of total revenue was 28% for each of the six months ended March 31, 2025 and 2024.
Current wording
Research and development expenses as a percentage of total revenue was 27% for each of the nine months ended June 30, 2025 and 2024.
Previous wording
Restructuring and acquisition related expenses were $0.2 million and $0.2 million for the six months and the three months ended March 31, 2025, respectively, compared to an insignificant amount in the six months ended March 31, 2024.
Current wording
Restructuring and acquisition related expenses were $10 thousand and $0.2 million for the three months and nine months ended June 30, 2025, respectively, compared to $53 thousand and $68 thousand in the three and nine months ended June 30, 2024.
Previous wording
The increase compared to the prior period is primarily attributable to personnel restructuring costs.
Current wording
The increase for the nine months ended June 30, 2025 was primarily attributable to personnel restructuring costs in the three months ended March 31, 2025.
Previous wording
Depreciation and amortization as a percentage of total revenue was 5% and 9% for the six months ended March 31, 2025 and 2024, respectively.
Current wording
Depreciation and amortization as a percentage of total revenue was 5% for each of the three months ended June 30, 2025 and 2024, respectively.
Previous wording
Depreciation and amortization as a percentage of total revenue was 5% and 8% for the three months ended March 31, 2025 and 2024, respectively.
Current wording
Depreciation and amortization as a percentage of total revenue was 5% and 8% for the nine months ended June 30, 2025 and 2024, respectively.
Previous wording
The loss from operations was $(0.7) million and $(0.5) for the three months ended March 31, 2025 and 2024, respectively.
Current wording
The loss from operations was $(0.7) million and $(0.4) million for the three months ended June 30, 2025 and 2024, respectively.
Previous wording
The loss from operations was $(1.3) million and $(1.2) million for the six months ended March 31, 2025 and 2024, respectively.
Current wording
The loss from operations was $(2.0) million and $(1.5) million for the nine months ended June 30, 2025 and 2024, respectively.
Previous wording
We recognized a gain/(loss) related to the change in fair value of warrant liabilities of $25 thousand and $(25) thousand for the three months ended March 31, 2025 and 2024, respectively.
Current wording
We recognized a gain related to the change in fair value of warrant liabilities of $31 thousand and $88 thousand for the three months ended June 30, 2025 and 2024, respectively.
Previous wording
We recognized a (loss)/gain related to the change in fair value of warrant liabilities of $(89) thousand and $(7) thousand for the six months ended March 31, 2025 and 2024, respectively.
Current wording
We recognized a (loss)/gain related to the change in fair value of warrant liabilities of $(58) thousand and $81 thousand for the nine months ended June 30, 2025 and 2024, respectively.
Showing the first 40 of 45 pairs. Open the source sections for the rest.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
The increase for the three months ended June 30, 2025 compared to the prior periods is primarily attributable to higher marketing spend on leads and conferences, partially offset by lower personnel costs.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
The increase compared to the prior period is primarily attributable to higher personnel costs.