Bridgeline Digital, Inc.
BLIN Technology Software Infrastructure
Bridgeline Digital, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $15.4 million, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 1.98%, EPS grew 42.9%, free cash flow grew 116.1% and total debt fell 46.3%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Bridgeline Digital, Inc. (BLIN) Altman Z-score
Bridgeline Digital, Inc.'s Altman Z-score for fiscal 2025 is −6.68, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −6.68 | (0.18) |
| FY2024 | −6.51 | 0.79 |
| FY2023 | −7.30 | (4.71) |
| FY2022 | −2.59 | (0.48) |
| FY2021 | −2.11 | 6.60 |
| FY2020 | −8.71 | 2.69 |
| FY2019 | −11.40 | (2.95) |
| FY2018 | −8.45 | (5.96) |
| FY2017 | −2.49 | 0.70 |
| FY2016 | −3.19 | 1.69 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.10) | — | −0.12 | |
| Retained earnings / total assets | (6.14) | — | −8.59 | |
| EBIT / total assets | (0.16) | — | −0.52 | |
| Market value of equity / total liabilities | 2.57 | — | 1.54 | |
| Sales / total assets | 1.00 | — | 1.00 | |
| Altman Z-score | Distress zone | −6.68 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −19.97 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| HPAI Helport AI Limited compare | 7.4× |
| ALAR Alarum Technologies Ltd. Sponsored ADR compare | 1.0× |
| DTSS Datasea Intelligent Technology Ltd. compare | −1.9× |
| BLIN Bridgeline Digital, Inc. | −6.7× |
| OLB OLB Group, Inc. compare | −9.6× |
| CISO CISO Global, Inc. compare | −10.1× |
| APCX AppTech Payments Corp. compare | −28.7× |
| BTLN Brightline Interactive, Inc. compare | −44.0× |
| RKTO Rocket One Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets