Dilution profile // every instrument, one screen, from SEC filings

Bridgeline Digital, Inc. (BLIN)

CIK 1378590 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGHS-3 on file 2025-02-24
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
LOWwarrants = 7% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
LOW+21% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
MEDIUM~14.9 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-08-102026-05-14

Latest: 12.6M shares as of May 14, 2026 (10-Q). Share count fell from 14.2M to 950,642 between Feb 10, 2019 and May 13, 2019, a pattern consistent with a reverse split (roughly 1-for-15); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Funded — but tight

~15 months of cash · watch

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Stock Warrants828,642$2.37
Series D Preferred Stock Warrants592,106$2.515.5y
Investor Stock Warrants1592,106$2.51
Placement Agent Stock Warrants1166,536$2.85
Placement Agent Stock Warrants270,000$1.88
Placement Agent Warrants28,000$1.8755y
Series A Warrantsnot tagged$45.5y
Series B Warrantsnot tagged$42y
Series C Warrantsnot tagged$0.055.5y
Montage Warrantnot taggednot taggedFV $0
Series D Warrantsnot taggednot taggedFV $0

Tranches exactly as the company dimensioned them in its 10-Q filed May 15, 2026. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

Warrants outstanding: 828,642 underlying shares, as reported Mar 31, 2026 (10-Q).

Reported exercise price: $1.25 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $2.5M as of Sep 30, 2020.

Rough fully diluted estimate: 13.4M = 12.6M O/S + 828,642 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

No convertible-note facts tagged in the 10-Q filed May 15, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding12.6MMay 14, 2026
+ Stock Warrants (if exercised)828,642Mar 31, 2026
+ Series D Preferred Stock Warrants (if exercised)592,106May 14, 2021
+ Investor Stock Warrants1 (if exercised)592,106Mar 31, 2026
+ Placement Agent Stock Warrants1 (if exercised)166,536Mar 31, 2026
+ Placement Agent Stock Warrants2 (if exercised)70,000Mar 31, 2026
+ Placement Agent Warrants (if exercised)28,000Mar 26, 2025
Fully diluted estimate14.9M+18.1% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

S-3Feb 24, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 1 executed · 0 registered.

EXECUTEDJul 14, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDMar 25, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDMar 25, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EFFECTIVEFeb 27, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDFeb 24, 2025S-3 registration — capacity to sell shares, not a sale yetS-3
EFFECTIVEMar 4, 2022SEC declared a registration effective — selling can beginEFFECT
REGISTEREDMar 2, 2022S-3/A registration — capacity to sell shares, not a sale yetS-3/A
REGISTEREDFeb 16, 2022S-3 registration — capacity to sell shares, not a sale yetS-3
UPDATEAug 19, 2021Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEAug 17, 2021SEC declared a registration effective — selling can beginEFFECT
REGISTEREDAug 12, 2021S-3/A registration — capacity to sell shares, not a sale yetS-3/A
EXECUTEDJun 4, 2021Unregistered share sale disclosed (8-K item 3.02)8-K

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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