Bridgeline Digital, Inc. Debt Disclosure
10. Long-term Debt
On March 1, 2021, the Company assumed the outstanding long-term debt obligations of an acquired business and issued a seller note to one of the selling stockholders. The assumed debt obligations and seller note are denominated in Euros.
Long-term debt consists as follows:
| As of September 30, | ||||||||
| 2024 | 2023 | |||||||
| Term loan payable, accruing interest at 3-Month EURIBOR plus 1.3% per annum, payable in quarterly installments starting in April 2023 and matures in July 2028. | $ | 325 | $ | 385 | ||||
| Seller’s note payable (“Seller’s note”), due to one of the selling stockholders, accruing interest at a fixed rate of 4.0% per annum. The Seller’s note is payable over 5 installments and matures in September 2025. | 201 | 317 | ||||||
| Total debt | 526 | 702 | ||||||
| Less current portion: | (282 | ) | (267 | ) | ||||
| Long-term debt, net of current portion | $ | 244 | $ | 435 | ||||
At September 30, 2024, future maturities of long-term debt are as follows:
| Fiscal year: | ||||
| 2025 | $ | 282 | ||
| 2026 | 81 | |||
| 2027 | 81 | |||
| 2028 | 82 | |||
| Total debt | $ | 526 |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Dec 26, 2024 | Showing above |
| 2023 | Dec 27, 2023 | |
| 2022 | Dec 21, 2022 | |
| 2021 | Dec 20, 2021 | |
| 2020 | Dec 23, 2020 | |
| 2019 | Dec 27, 2019 | |
| 2018 | Dec 28, 2018 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.