One-glance verdict
Within fair range
$0.38 our estimate vs market $0.83
119% above our estimate
Fundamentals snapshot
Bridgeline Digital, Inc.
BLIN · NCM · Technology · Software - Infrastructure
Current price
$0.83
52-week range
$0.69 - $1.62
Market cap
$10.51M
Balance sheet
Healthy
-17.34x Concerning
Net cash $479.00K. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
1 Risk
2 rewards · 1 risks
- Reward Revenue grew 1.6% last year.
- Reward Free cash flow was positive in 1/10 years.
- Risk Return on equity was -14.2% last year — the company lost money on shareholders' equity.
What this company does
Bridgeline Digital, Inc.
Bridgeline Digital sells software that helps other businesses improve their websites and online marketing, for example by making a website's own search bar smarter or helping the site appear higher in Google search results. The company makes most of its money from subscriptions, creating recurring revenue (predictable income from customers paying a regular fee to use the software). This is important because a steady stream of subscription income can make a company's finances more stable than relying on one-time sales.
How the company got here
Founded in 2000, Bridgeline Digital started out by providing a range of digital services. A key turning point was the company's shift from a collection of digital agencies to a more focused software-as-a-service (SaaS) company, a model where customers pay a subscription for cloud-based software. This transition was accelerated by several strategic acquisitions, including Celebros, OrchestraCMS, Woorank, and most notably HawkSearch in 2021. These purchases have reshaped the company, centering its strategy on A.I.-powered search and marketing technology to help businesses improve their online sales.
What it actually does
Bridgeline Digital provides a suite of software tools that help businesses increase their online revenue. Think of them as a technology partner for a company's website or online store. Their main goal is to help clients attract more website visitors, turn those visitors into paying customers (a process called conversion), and encourage them to buy more in each transaction. They do this with A.I.-powered tools for website search, product recommendations, and marketing, which are sold primarily through subscriptions.
AI-Powered Search (HawkSearch)
This is Bridgeline's flagship and fastest-growing business area, making up the majority of its revenue. It provides smart search technology for e-commerce websites, especially for businesses that sell to other businesses (B2B) and have very large or complex product catalogs. When you search for a product on a retail website, HawkSearch is the engine that tries to understand what you want and shows you the most relevant results, even if your search term is vague. Companies pay Bridgeline a subscription fee to use this technology to make their websites easier for customers to navigate and to increase sales.
Digital Experience & Content Management
This segment offers a broader platform for managing a company's entire online presence. It includes tools for web content management (letting companies easily update their websites), e-commerce (the software that runs the online store), and digital marketing. Products like Unbound, TruPresence, and OrchestraCMS fall into this category, helping businesses manage everything from basic website content to complex digital experiences for franchises or partners. While still a significant part of the business, the company's primary focus has shifted towards its AI search products.
SEO and Marketing Tools (Woorank)
This part of the company provides tools to help businesses improve their visibility on search engines like Google, a practice known as Search Engine Optimization (SEO). Woorank is a tool that audits a company's website and provides a report card on its SEO performance, offering actionable insights on how to rank higher in search results. The goal is to drive more traffic (the number of visitors) to the client's website without paying for advertising. This is a smaller but complementary piece of Bridgeline's overall offering to help businesses grow online.
What management is betting on now
Management's strategy, which they call eCommerce360, is heavily focused on its A.I.-powered search technology, particularly HawkSearch. They are betting that by providing superior A.I.-driven search and product recommendations, they can help their clients significantly increase online sales. The company is concentrating on expanding its presence in the business-to-business (B2B) e-commerce market, where companies often have massive and complicated product catalogs that need intelligent search to be effective. Their plan involves winning new customers for HawkSearch and cross-selling (selling additional products) these advanced A.I. tools to their existing client base.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$212.00K
FY2025 Q1
$173.00K
FY2025 Q2
$-374.00K
FY2025 Q3
$-570.00K
FY2025 Q4
$-351.00K
FY2026 Q1
$-46.00K
FY2026 Q2
$-57.00K
FY2026 Q3
$139.00K
Revenue
$3.92M
Net income
$-468.00K
Diluted EPS
-0.04
Operating cash flow
$155.00K
Free cash flow
$139.00K
Fetching…
Sources
Revenue
$3.92M
Net income
$-432.00K
Diluted EPS
-0.04
Operating cash flow
$-40.00K
Free cash flow
$-57.00K
Fetching…
Sources
Revenue
$3.91M
Net income
$-86.00K
Diluted EPS
-0.01
Operating cash flow
$-39.00K
Free cash flow
$-46.00K
Fetching…
Sources
Revenue
$3.87M
Net income
$-365.00K
Diluted EPS
-0.02
Operating cash flow
$-345.00K
Free cash flow
$-351.00K
Fetching…
Sources
Revenue
$3.85M
Net income
$-789.00K
Diluted EPS
-0.07
Operating cash flow
$-565.00K
Free cash flow
$-570.00K
Fetching…
Sources
Revenue
$3.88M
Net income
$-730.00K
Diluted EPS
-0.10
Operating cash flow
$-372.00K
Free cash flow
$-374.00K
Fetching…
Sources
Revenue
$3.79M
Net income
$-634.00K
Diluted EPS
-0.06
Operating cash flow
$178.00K
Free cash flow
$173.00K
Fetching…
Sources
Revenue
$3.86M
Net income
$-432.00K
Diluted EPS
-0.04
Operating cash flow
$217.00K
Free cash flow
$212.00K
Fetching…
Sources
Is it cheap or expensive?
Fair value $0.38 vs current price $0.83
Our most-likely fair value is $0.38 a share — about 54.2% away from today's price of $0.83, so the stock currently looks fairly priced.
Is it drowning in debt?
Healthy
Net cash $479,000 - more cash than debt. Interest coverage -17.3x.
Net debt
$-479.00K
Interest coverage
-17.34x
Bridgeline Digital, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
BLIN
BASELINE
Bridgeline Digital, Inc.
Total debt $986.00K Interest coverage -17.34x This is the baseline the peer rows are being compared against.
Total debt $226.26M Interest coverage 1.05x This peer still has a real interest-payment cushion, while BLIN does not.
Total debt $10.49M Interest coverage -22.01x Neither company has much profit cushion over interest right now.
Total debt $1.59M Interest coverage -21.21x Neither company has much profit cushion over interest right now.
Total debt $9.88M Interest coverage -7.74x Neither company has much profit cushion over interest right now.
Total debt $18.20M Interest coverage -2.84x Neither company has much profit cushion over interest right now.
What you should know
The case for and against BLIN
2 Rewards
1 Risk
Rewards
-
Revenue grew 1.6% last year.
-
Free cash flow was positive in 1/10 years.
Risks
-
Return on equity was -14.2% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
6.95x
P/B
1.18x
P/S
0.67x
EV/EBITDA
-16.62x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
65.2%
Operating margin
-10.2%
Net margin
-8.6%
ROE
-14.2%
ROA
-5.4%
Health
Liquidity and balance-sheet strength
Debt / equity
0.11x
Current ratio
0.61x
Quick ratio
0.51x
Total debt
$986.00K
Total cash
$1.47M
Growth
How the business has been compounding
Revenue TTM
$15.62M
Revenue 5Y CAGR
3.8%
EPS TTM
-0.10
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-269.00K
Free CF TTM
$-1.12M
FCF margin
-7.2%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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