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): January 12, 2023

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:

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

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 January 12, 2023, Bridgeline Digital, Inc. (the “Company”) issued a press release providing an update following the end of the Company’s first fiscal quarter ended December 31, 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

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.

ex_463662.htm

Exhibit 99.1

Bridgeline Wins Over $500 Thousand in SaaS License Sales in its First Quarter of Fiscal 2023

WOBURN, Mass., Jan. 12, 2023 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a leader in cloud-based digital experience software, today provided the following update for the end of its first quarter of fiscal 2023, which ended December 31, 2022.

Bridgeline reported 22 SaaS license sales totaling over $0.5 million in total contract value with $250 thousand in annual recurring revenue for its first quarter of fiscal year 2023. Bridgeline’s customer base continues to expand its investment in Bridgeline software with 10 license sales to its existing customer base plus over $100 thousand of additional capacity licenses for the holiday season and nearly $500 thousand in consulting services. Bridgeline also saw outstanding customer subscription renewals, with more than 125 renewing customers including Ron Jon, Dairy Queen, and Guardian Life.

“Bridgeline’s partners continue to drive strong new business for us, including Optimizely, BigCommerce, Progress Software, and Shopify,” said Ari Kahn, Bridgeline’s President, and Chief Executive Officer. “In 2023 we intend to further invest in our partners with both technological advances and marketing initiatives.”

Bridgeline delivered several technological advances in its first quarter, including its HawkSearch Rapid User Interface Framework. The Rapid UI reduces the time and expense of launching new HawkSearch-powered websites. The framework not only reduces the total cost of ownership for new HawkSearch customers, but also accelerates Bridgeline’s customer acquisition sales cycle by allowing prospective customers to see how HawkSearch improves search within their site before purchasing it.

Bridgeline’s strength in the electrical and plumbing distributor sector continues to grow. New electrical distributors and plumbing suppliers invested in Bridgeline in the first quarter. The Company will continue to invest in this sector with marketing initiatives in 2023 including presenting at major conferences, webinars, and online advertising.

Bridgeline intends to announce its first quarter fiscal year 2023 results in February.

Contact:

Danielle Erwin

VP of Marketing

Bridgeline Digital

press@bridgeline.com