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Bridgeline Digital Inc. (BLIN-8.33%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing includes financial statements for the year, showing a decrease in total revenue to $15.4 million from $15.9 million in the previous year. Subscription and perpetual license revenue decreased by 5% to $12.1 million.
Digital engagement services revenue increased by 3% to $3.2 million, representing 21% of total revenue, compared to 20% in the previous year.
Cost of revenue decreased slightly to $4.9 million, with the cost of subscription and perpetual licenses increasing slightly due to higher cloud-based hosting costs.
Operating expenses decreased significantly to $12.5 million from $20.8 million, primarily due to the absence of a goodwill impairment charge, which was $7.5 million in the previous year.
The company reported a net loss of $2.0 million, compared to a net loss of $9.4 million in the previous year. Basic and diluted net loss per share was $(0.19), compared to $(0.91) in the previous year.
Adjusted EBITDA improved to a loss of $0.2 million from a loss of $0.3 million in the prior year.
Cash used in operating activities was $0.8 million, compared to cash provided by operating activities of $0.3 million in the previous year.
Bridgeline Digital has a working capital of $2.9 million as of September 30, 2024. The company continues to focus on expanding its product offerings and customer base.
The filing also details various financial agreements, including long-term debt obligations and operating lease commitments.
Bridgeline Digital's research and development expenses increased to $4.2 million, focusing on product enhancements and new market opportunities.
The company did not declare or pay any cash dividends on its common stock during the fiscal year.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bridgeline Digital Inc. annual 10-K report dated December 26, 2024. To report an error, please email earnings@qz.com.