The flat subscription revenue and continued net losses suggest limited near-term upside for the stock despite strong core product metrics. Monitor the next quarter for evidence that the record new logo sales and expanding customer deployments are translating into accelerating subscription revenue growth and a path to profitability.
Price Chart
Executive Summary
Bridgeline Digital reported Q3 fiscal 2026 results with total revenue of $3.9M, up slightly from $3.8M a year ago, and a net loss of $0.5M, improved from a $0.8M loss in the prior year. While subscription revenue was flat at $3.1M, the company highlighted record new logo sales, 13% core product revenue growth, and a 106% core NRR, signaling continued momentum in its HawkSearch AI platform despite overall modest financial performance.
Key Financial Metrics
Key Facts
- Total revenue for Q3 fiscal 2026 was $3.9M, up from $3.8M in the same quarter last year.
- Subscription revenue was flat at $3.1M, while services revenue increased to $0.8M from $0.7M.
- Net loss improved to $0.5M from a net loss of $0.8M in the prior year quarter.
- Core product revenue grew 13% on a trailing twelve-month basis and now represents 62% of total revenue.
- Core Net Revenue Retention (NRR) was 106%.
- The company delivered a record-tying 9 new logo wins in the quarter, with 19 subscription contracts totaling $1.7M in total contract value.
- Operating expenses decreased to $3.0M from $3.2M year-over-year.
- Cash and cash equivalents stood at $1.465M, down from $1.626M at fiscal year-end 2025.
- Adjusted EBITDA was negative $102,000, an improvement from negative $330,000 in the prior year quarter.
Financial Impact
Revenue up ~2% YoY; net loss narrowed by ~$321K YoY; core product revenue growing 13% TTM.
Risk Factors
- Subscription revenue growth remains stagnant at $3.1M, indicating legacy product headwinds are offsetting core product gains.
- Cash burn continues with negative operating cash flow implied by declining cash balance and negative Adjusted EBITDA.
- The company has a history of net losses and a small market cap ($13M), making it vulnerable to adverse business developments.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-028360 |
| Document: blin20260813_8k.htm | 0001437749-26-028360 |
| Document: 0001437749-26-028360-index-headers.html | 0001437749-26-028360 |
| Document: 0001437749-26-028360-index.html | 0001437749-26-028360 |
| Document: 0001437749-26-028360.txt | 0001437749-26-028360 |
| 8-K Data (Synthetic) | 0001437749-26-028360 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | 8-K | $0.7000 | awaiting T+20 | — | $0.7100 (−1.43%) |
Oct 6, 2026 20d ago | 8-K | $0.7821 | awaiting T+20 | — | $0.7100 (−9.22%) |
Aug 18, 2026 9w ago | 8-K | $0.9667 $0.8705 | ▼ −9.95% | ▼ −8.00% | $0.7100 (−26.55%) |
Jul 14, 2026 14w ago | 8-K | $1.22 $1.09 | ▲ +10.66% | ▲ +13.00% | $0.7100 (+41.80%) |
Jul 14, 2026 14w ago | 424B5 | $1.22 $1.09 | ▲ +10.66% | ▲ +13.00% | $0.7100 (+41.80%) |
Jun 16, 2026 18w ago | 8-K | $0.9950 $1.22 | ▲ +22.61% | ▲ +22.41% | $0.7100 (−28.64%) |
May 4, 2026 25w ago | 8-K | $1.05 $1.25 | ▲ +19.05% | ▲ +14.09% | $0.7100 (−32.38%) |
US Market Status
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