Bridgeline Digital, Inc.
- Open
- 1.18
- Day high
- 1.19
- Day low
- 1.12
- Prev close
- 1.16
- Volume
- 46K
- Mkt cap
- $14M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.5
- P/S
- 0.9
- Yield
- —
- Per share
- —
Bridgeline Digital, Inc. (BLIN) is a Technology company listed on NASDAQ. The stock is down 17% over the past year.
Bridgeline Digital, Inc. (BLIN) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BLIN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | $-0.01 | $-0.04 | -300.0% | $4M | -13.9% |
| Feb 12, 2026 | $-0.01 | $0.01 | +162.7% | $4M | -14.3% |
| Dec 18, 2025 | $-0.06 | $-0.03 | +50.0% | $4M | -2.0% |
| Aug 14, 2025 | $-0.05 | $-0.07 | -40.0% | $4M | -1.8% |
| May 15, 2025 | $-0.04 | $-0.10 | -150.0% | $4M | -1.3% |
| Feb 13, 2025 | $-0.05 | $-0.06 | -20.0% | $4M | -2.8% |
| Dec 23, 2024 | $-0.05 | $-0.04 | +20.0% | $4M | -0.1% |
| Aug 14, 2024 | $-0.02 | $-0.03 | -33.3% | $4M | +1.7% |
| Feb 14, 2024 | $-0.06 | $-0.06 | +0.0% | $4M | -4.7% |
| Aug 11, 2023 | $-0.06 | $-0.07 | -16.7% | $4M | +2.6% |
| May 15, 2023 | $-0.04 | $-0.05 | -25.0% | $4M | +1.1% |
| Feb 14, 2023 | $-0.01 | $-0.01 | -75.1% | $4M | -3.6% |
BLIN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 16, 2026 | Ross Brandondirector | Tax | 7,583 | $0.82 |
| Mar 16, 2026 | Ross Brandondirector | Grant | 22,500 | — |
| Mar 16, 2026 | KAHN JONIdirector | Tax | 7,252 | $0.82 |
| Mar 16, 2026 | Galaznik Kennethdirector | Grant | 22,500 | — |
| Mar 16, 2026 | Ketslakh Michaeldirector | Grant | 22,500 | — |
| Mar 16, 2026 | KAHN JONIdirector | Grant | 22,500 | — |
| Mar 11, 2026 | Kahn Roger E.director, 10 percent owner, officer: President and CEO | Buy | 10,000 | $0.93 |
| Mar 4, 2026 | Ketslakh Michaeldirector | Buy | 2,487 | $0.85 |
| Mar 4, 2026 | Ketslakh Michaeldirector | Buy | 4,472 | $0.85 |
| Feb 26, 2026 | Ketslakh Michaeldirector | Buy | 2,394 | $0.85 |
| Feb 26, 2026 | Ketslakh Michaeldirector | Buy | 10,647 | $0.85 |
| Feb 23, 2026 | Ketslakh Michaeldirector | Buy | 1,353 | $0.85 |
| Feb 19, 2026 | Kahn Roger E.director, 10 percent owner, officer: President and CEO | Buy | 14,000 | $0.82 |
| Feb 19, 2026 | Kahn Roger E.director, 10 percent owner, officer: President and CEO | Buy | 35,301 | $0.75 |
| Feb 19, 2026 | Kahn Roger E.director, 10 percent owner, officer: President and CEO | Buy | 5,000 | $0.85 |
Source: BLIN SEC Form 4 filings, latest Mar 16, 2026. For informational purposes only — not investment advice.
See the full BLIN insider & 13F page →Bridgeline Digital, Inc. company profile
Overview
Bridgeline Digital, Inc. (NASDAQ:BLIN) is a Massachusetts-based digital engagement company founded in 2000 that provides web-based software solutions and services. Originally established as Bridgeline Software, Inc., the company went public in 2007 and has evolved from a traditional web development firm into a focused provider of AI-powered e-commerce search and digital marketing solutions. The company has undergone significant strategic transformation in recent years, pivoting from a diverse portfolio of digital services to concentrate primarily on its HawkSearch product, which now represents the majority of its business and has become a recognized leader in B2B product discovery platforms.
Business
Bridgeline Digital operates in the software infrastructure sector, specifically focusing on e-commerce search technology and digital marketing automation. The company's business is built around its flagship HawkSearch platform, an AI-powered site search and product discovery solution that helps online retailers and B2B companies improve their customers' shopping experiences. HawkSearch is a sophisticated search engine that goes beyond traditional keyword matching. It uses artificial intelligence to understand user intent, provide conversational search capabilities, visual search functionality, and smart product recommendations. When a customer visits an e-commerce website powered by HawkSearch, they can search for products using natural language, images, or even engage in chat-like conversations with the search system. The platform analyzes customer behavior, learns from search patterns, and continuously improves results to increase conversion rates and sales for online businesses. The company's revenue is divided into two main segments: 1. Subscription and License Revenue accounts for approximately 78-80% of total revenue and includes recurring software licensing fees for HawkSearch and other digital platforms. This segment has shown consistent growth and represents the company's core business model. 2. Services Revenue comprises 20-22% of total revenue and includes implementation, customization, web development, and ongoing support services for clients using Bridgeline's software platforms. Beyond HawkSearch, Bridgeline also offers complementary products including Bridgeline Unbound (a content management and e-commerce platform), WooRank (SEO and digital marketing analytics), and various web development and hosting services. However, these legacy products represent a declining portion of the business as the company focuses resources on expanding its AI-powered search capabilities.
Revenue model
Bridgeline Digital operates primarily on a Software-as-a-Service (SaaS) subscription model, generating recurring revenue from monthly or annual licensing fees charged to businesses that use their search and digital marketing platforms. The company's customers are predominantly B2B manufacturers, distributors, and e-commerce retailers who pay subscription fees based on factors such as search volume, number of products in their catalogs, and feature sets required. The subscription revenue model provides predictable, recurring income with high gross margins of approximately 69-75%. Customers typically sign multi-year contracts, and the company has demonstrated strong customer retention with renewal rates consistently above 90% and net revenue retention of 103-113%, indicating that existing customers are expanding their usage over time. Services revenue comes from implementation fees, custom development work, and ongoing support services. While this represents a smaller portion of total revenue, it provides higher-touch customer relationships and often leads to larger subscription commitments. Several factors influence Bridgeline's profitability margins. Positive margin drivers include the company's transition toward higher-margin AI-powered products, successful upselling of advanced features to existing customers, and operational leverage as the software scales without proportional increases in delivery costs. The company's focus on specific vertical markets like manufacturing and distribution allows for specialized product development and premium pricing. Margin pressures come from increased competition in the e-commerce search space from larger technology companies, the need for continuous investment in AI research and development to maintain competitive advantages, customer acquisition costs as the company expands its sales and marketing efforts, and potential pricing pressure as the market matures. Additionally, the company's small size limits its ability to achieve economies of scale compared to larger competitors like Amazon or Google who offer competing search solutions.
Competitive moat
Bridgeline Digital's competitive moat is relatively narrow but appears to be strengthening in specific areas. The company's primary defensive position comes from its specialized focus on B2B e-commerce search, where it has developed domain-specific AI capabilities and deep integrations with popular e-commerce platforms like BigCommerce, Salesforce, and Optimizely. The company's strongest moat elements include its established customer relationships in niche B2B verticals such as industrial distribution, manufacturing, and specialized retail, where switching costs are meaningful due to the integration complexity and learning curve associated with search optimization. Bridgeline has also built valuable partnerships with major e-commerce platforms, making it easier for mutual customers to implement and maintain their solutions. The company's AI capabilities, while not unique in the broader market, are tailored specifically for e-commerce applications and have received recognition from industry analysts like Gartner. However, the moat faces significant competitive threats. Large technology companies like Amazon (with Amazon CloudSearch), Google (with Google Cloud Search), Microsoft, and Elasticsearch offer competing search solutions with substantially greater resources for AI development and marketing. These competitors can afford to offer search capabilities at lower prices or even as loss leaders to capture market share. Additionally, many e-commerce platforms are developing native search capabilities, potentially reducing demand for third-party solutions. The company's small size, with annual revenue of approximately $15-16 million, limits its ability to invest in R&D at the scale of larger competitors. While Bridgeline has carved out a defensible position in specific B2B niches, the overall competitive landscape suggests a modest moat that requires continuous innovation and execution to maintain. The company's success depends heavily on staying ahead of larger competitors in specialized use cases and maintaining strong customer relationships through superior service and domain expertise.
Risks & safety
Bridgeline Digital presents a mixed margin of safety profile with both concerning liquidity metrics and some stabilizing factors. **Liquidity and Solvency Concerns:** - Current ratio of 0.86 indicates current liabilities exceed current assets by approximately $741,000 - Cash position of $2.8 million provides limited runway given historical cash burn patterns - Free cash flow of -$374,000 in most recent quarter, though this has shown improvement from previous periods - Working capital deficit suggests potential short-term funding needs **Debt and Capital Structure:** - Low debt-to-equity ratio of 0.04 indicates minimal leverage risk - Total debt of approximately $524,000 is manageable relative to assets - Recent $2.2 million capital raise in Q2 2025 provides temporary liquidity relief **Valuation Metrics:** - Trading at 1.47x book value suggests modest premium to tangible assets - Negative P/E ratio due to losses, though losses are narrowing - Enterprise value to EBITDA not meaningful due to negative EBITDA **Other Considerations:** - 800,000 outstanding warrants could provide additional capital if exercised (strike prices $2.51-$2.85) - Strong gross margins of 68-69% indicate underlying business model viability - Net revenue retention above 100% suggests customer base is expanding usage despite company's challenges
Recent development
Over the past few years, Bridgeline Digital has undergone a significant strategic transformation, pivoting from a diversified digital services company to a focused AI-powered e-commerce search specialist. The most notable development has been the company's aggressive investment in artificial intelligence capabilities for its HawkSearch product line, which has grown from representing less than half of revenue to over 60% of subscription revenue. In 2024, the company launched five major AI-powered features including Smart Conversation (conversational search), Smart Response (PDF analysis and content generation), Rapid UI 2.0 (improved user interface framework), Visual Search capabilities, and Concept Search supporting over 50 languages. These innovations have positioned HawkSearch as what Gartner recognizes as a leading B2B product discovery platform. The company has also significantly expanded its partnership ecosystem, establishing integrations with major e-commerce platforms including BigCommerce, Salesforce Commerce Cloud, Optimizely, and OroCommerce. These partnerships now influence approximately 80% of new deals and have helped triple the sales pipeline while improving conversion rates and average deal sizes. Strategically, Bridgeline has shifted resources from research and development to sales and marketing, completing a $2.2 million capital raise specifically to fund increased marketing investment. The company has moved from a primarily inbound sales model to more proactive lead generation, targeting specific B2B verticals such as fasteners, plumbing supplies, and healthcare distribution where their search technology provides measurable ROI improvements. The sales organization has demonstrated improved efficiency, with sales cycles averaging 105-120 days and win rates of 18-20% on qualified leads. The company sold 83 new licenses in fiscal 2024 compared to much lower volumes in previous years, with total contract values reaching $6.2 million annually.
BLIN company profile · for informational purposes only — not investment advice.
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