Tue, May 14, 9:27 PM (73 days ago)
Bridgeline Digital, Inc. reported a net loss of $(0.6) million for Q2 FY2024, compared to $(0.5) million in Q2 FY2023. Revenue for Q2 FY2024 was $3.8 million, down 7% from $4.1 million in Q2 FY2023, primarily due to reduced subscriptions on legacy products. Subscription and perpetual licenses revenue decreased by 8% to $3.0 million, while digital engagement services revenue remained relatively stable at $0.8 million. Cost of revenue slightly increased, resulting in a gross profit margin of 66%, down from 69% in the prior year. Operating expenses decreased by 13% to $3.0 million, driven by lower sales and marketing expenses. Adjusted EBITDA improved to $(0.08) million from $(0.14) million. Cash used in operating activities was $(1.0) million for the six months ended March 31, 2024, compared to $0.5 million provided in the prior period, primarily due to changes in working capital. The company continues to manage tight control over discretionary spending and believes future revenues and cash flows will supplement working capital.