Here is why Bridgeline Digital Inc. (BLIN) stock plunged in the after-hours on Monday?

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BIIB Stock
BIIB Stock

Bridgeline Digital Inc. (BLIN) shares fell 12.22% in after-hours on Monday, December 20, 2021, and closed at $2.37. However, in the regular trading session, BLIN’s stock gained 4.65%. BLIN shares have fallen 2.17% over the last 12 months, and they have moved up 5.88% in the past week. Over the past three months, the stock has lost 33.33%, while over the past six months, it has soared 21.62%.

Let’s discuss its recent news and developments


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BLIN latest news

On December 20, 2021, Bridgeline Digital, Inc. (BLIN), announced financial results for its fiscal fourth quarter ended September 30, 2021.

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Q4 2021 financial highlights

  • BLIN reported revenue of $4.1 million in Q4 2021 compared to $2.7 million in the fourth quarter of fiscal 2020.
  • The cost of revenue was $1.3 million for the quarter ended September 30, 2021, compared to $0.9 million for the same period in 2020.
  • In Q4 2021, gross profit was $2.8 million compared to $1.8 million in Q4 2020.
  • Total operating expenses were $3.4 million for the quarter ended September 30, 2021, compared to $1.7 million for the same period in 2020.
  • It suffered a net loss of $1.3 million in Q4 2021 compared to a net income of $1.1 million for the same period in 2020.
  • In Q4 2021, Adjusted EBITDA was$0.2 million, compared to $0.5 million in Q4 2020.

FY 2021 financial highlights

  • FY 2021 total revenue was $13.3 million compared to $10.9 million in fiscal 2020.
  • The cost of revenue was $4.5 million for the twelve months ended September 30, 2021, which was the same in FY 2020.
  • Gross profit was $8.7 million in FY 21 compared to $6.4 million in fiscal 2020.
  • In FY 2021, total operating expenses were $9.9 million compared to $8.0 million for FY 2020.
  • It suffered a net loss of $6.7 million in FY 2021, compared to $0.3 million for FY 2020.
  • Adjusted EBITDA was $1.4 million, compared to a negative adjusted EBITDA of $0.1 million for FY 2020.

Update about BLIN new product Hawksearch

On December 09, 2021, Bridgeline Digital, Inc. (BLIN), announced that their newest Hawksearch product has been chosen by one of the most established legal associations and long-time Unbound customers.

Hawksearch was added to the Bridgeline portfolio this year to drive more value for their Unbound customers. The Bridgeline old customer has decided to extend their Unbound integration with Hawksearch for its ability to organize content, faceted navigation, and AI-powered relevant recommendations.

BLIN NLP software was chosen by German sports retailer

On December 07, 2021, Bridgeline Digital, Inc. (BLIN) site search product was chosen by a German sports apparel business to support their lead augmentation software.

Bridgeline’s NLP software can differentiate between major brands, product variations, and complicated queries within the massive catalog of sports attire and that’s why it was chosen by the German company.

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Conclusion

The recent financial results were unimpressive due to which its stock price went down in the after-hours on Monday and we can expect it to further decline on Tuesday.

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