8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): July 5, 2022

BRIDGELINE DIGITAL, INC.

(Exact Name of Registrant as

Specified in Its Charter)

Delaware

(State or Other Jurisdiction of

Incorporation)

001-33567	52-2263942
(Commission File Number)	(IRS Employer Identification No.)
100 Sylvan Road, Suite G700, Woburn, MA	01801
(Address of Principal Executive Offices)	(Zip Code)

	(781) 376-5555
	(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	BLIN	Nasdaq Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On July 5, 2022, Bridgeline Digital, Inc. (the “Company”) issued a press release providing an update following the end of the Company’s third fiscal quarter ended June 30, 2022, including updates regarding license sales, partner relationships, customer expansion and other related information. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1, and is incorporated herein by reference.

The information in this Current Report, including Exhibit 99.1 is being furnished pursuant to Item 2.02 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor is it subject to the liabilities of that section or deemed incorporated by reference in any filing by the Company under the Exchange Act or the Securities Act of 1933, as amended, unless specifically identified as being incorporated therein. 

Cautionary Note on Forward-Looking Statements.

This Current Report on Form 8-K includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are any statements or characterizations other than statements or characterizations of historical fact. Forward-looking statements include statements regarding the intent, belief or current expectations of Bridgeline Digital, Inc. and are often identified by words such as “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,” “could,” “potential,” “continue,” “ongoing,” and similar expressions, and variations or negatives of these words. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results, and our actual result may differ materially due to a variety of important factors, many of which are described in our Annual Report on Form 10-K, our subsequently filed Quarterly Reports on Form 10-Q, and our other filings with the U.S. Securities and Exchange Commission. We urge readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we assume no obligation to, and do not currently intend to, update or otherwise revise any such forward-looking statements, except as expressly required by applicable law.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Exhibit Description
99.1	Press Release issued by Bridgeline Digital, Inc., dated July 5, 2022
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BRIDGELINE DIGITAL, INC.
	(Registrant)
Date: July 7, 2022
	By:	/s/ Thomas R. Windhausen
		Thomas R. Windhausen
		Chief Financial Officer

EX-99.1

Exhibit 99.1

Bridgeline Adds $690K in New License ARR Including TruPresence Sales and Strong Customer Expansion

WOBURN, Mass., July 05, 2022 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a leader in cloud-based digital experience software, today provided the following update after the end of its fiscal third quarter, which concluded on June 30, 2022.

Bridgeline reported that it closed 23 license sales totaling over $690K in ARR in the third quarter of the fiscal year 2022. Bridgeline’s cross-selling and upsell strategy remains strong, with 11 license sales to its existing customer base on top of 12 newly won customers.

“Here at Bridgeline we continue to win new customers and expand license revenue within our customer base at the strongest rate in our history,” said Ari Kahn, Bridgeline’s President and Chief Executive Officer. “Bridgeline’s eCommerce360 strategy is helping us grow not only with new customers through multiple entry points in our product suite, but also through customer expansion with new capabilities that help our customers grow their online revenue.”

Bridgeline saw significant growth within the hardware, automotive, and finance industries adding notable companies such as Federal Credit Union, Belmetrics, and Michael Murphy Sports and Leisure.

TruPresence, Bridgeline’s franchise product suite, continues to bring in new opportunities including a recent win with a unique SEO reporting solution that offers individual location analytics and personalized SEO recommendations. Bridgeline has added over $100K in ARR this fiscal year to date for the TruPresence product suite alone.

“Our recently launched TruPresence brand for franchises is winning customers ahead of schedule. TruPresence’s location analytics solution is already receiving outstanding feedback,” said Jeremy LaDuque, Bridgeline’s EVP Franchise. “I look forward to seeing the impact TruPresence has within the franchise SEO space.”

Existing customer renewals with Bridgeline represented $1.7 million in Total Contract Value (TCV) this quarter. These 118 renewing customers include Bristol Meyers Squibb, 7-Eleven, Shell, and Triumph.

Bridgeline continues to provide services including site launches and SEO consultancy for more than a dozen customers. This quarter, Bridgeline launched over 20 projects in services for customers such as AARP International and Crescent Electric.

Partner relationships continue to succeed with the release of new connectors. This quarter a new Magento connector was released for Bridgeline’s Hawksearch product. Bridgeline now has multiple active customers using the new connector.

A recent example of the success of Bridgeline’s partner strategy includes the win of the global, multi-site publisher SAGE Publishing, providing effective site-search solutions for multiple content sites. For this new customer, Bridgeline partnered with Sitefinity, BigCommerce, and Visus LLC.

The Kentico partnership also resulted in the win of a large financial institution choosing Bridgeline’s Hawksearch to enrich the customer experience for their estimated 1 million customers. Hawksearch will be implemented using the new Hawksearch Kentico connector as the bank redesigns its website on the Kentico Xperience platform.

In addition, Bridgeline showcased their latest Salesforce Lightning Connector at the Salesforce World Tour NYC this quarter and participated in the platform’s Partnership Summit, strengthening their partnership with several agencies and solution implementors within the platform ecosystem.

Bridgeline also successfully negotiated a discount to its final earnout payment for the Hawksearch acquisition, which along with a working capital adjustment will save $600K in payments that would have been due in January 2023 in exchange for a 6-month early payment.

About Bridgeline Digital

Bridgeline helps companies grow online revenue by increasing traffic, conversion rates, and average order value. To learn more, please visit www.Bridgeline.com

Contact:
Danielle Erwin
VP of Marketing
Bridgeline Digital

press@bridgeline.com

XML

Document And Entity Information	Jul. 05, 2022
Document Information [Line Items]
Entity, Registrant Name	BRIDGELINE DIGITAL, INC.
Document, Type	8-K
Document, Period End Date	Jul. 05, 2022
Entity, Incorporation, State or Country Code	DE
Entity, File Number	001-33567
Entity, Tax Identification Number	52-2263942
Entity, Address, Address Line One	100 Sylvan Road, Suite G700
Entity, Address, City or Town	Woburn
Entity, Address, State or Province	MA
Entity, Address, Postal Zip Code	01801
City Area Code	781
Local Phone Number	376-5555
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	BLIN
Security Exchange Name	NASDAQ
Entity, Emerging Growth Company	false
Amendment Flag	false
Entity, Central Index Key	0001378590