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Bridgeline Digital, Inc.

Bridgeline Digital, Inc. is an American prepackaged software services company based in Woburn.2 Its shares trade on Nasdaq under the symbol BLIN.2

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Last updated Oct 21, 2026.

Overview

$15.4MRevenue, fiscal 20253
-$2.5MNet income, fiscal 20253

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  • TickerBLIN on Nasdaq2
  • IndustryServices-Prepackaged Software2
  • HeadquartersBurlington, United States2
  • Incorporated inDE4
  • Business address100 Trade Center, Suite G-700, Woburn, Ma 018014
  • Filer categoryNon-accelerated filer, Smaller reporting company4
  • Legal formCorporation2
  • LEI5493007XAMAJ1KUXPN282
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 32789972

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Bridgeline Digital is an AI-powered marketing technology company that offers a suite of products that help companies grow online revenue by driving more visitors to their websites, converting more visitors to purchasers, and increasing average order value per purchaser.6 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

66.6%Gross margin3
-15.8%Operating margin3
-16.4%Net margin3
0.2%Revenue growth, 20253
-26.3%Return on equity3
0.03×Debt to equity3
-$1.1MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Subscription, SaaS brought in 84% of the revenue Bridgeline Digital, Inc. broke down this way in fiscal 2025.

  1. Subscription, SaaS$10.3M384%down 3% from 2024
  2. Subscription, Hosting$1.6M313%up 60% from 2024
  3. Subscription, Maintenance$415.0K33%down 5% from 2024
Products and services by year
Products and services20242025
Subscription, SaaS$10.7M$10.3M
Subscription, Hosting$998.0K$1.6M
Subscription, Maintenance$437.0K$415.0K

Regions

United States brought in 85% of the revenue Bridgeline Digital, Inc. broke down this way in fiscal 2025.

  1. United States$13.1M385%up 2% from 2024
  2. Outside the United States$2.3M315%down 10% from 2024
Regions by year
Regions20242025
United States$12.8M$13.1M
Outside the United States$2.5M$2.3M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue33¢$5.1M
  • Research and development26¢$4.0M
  • Other costs40¢$6.2M
  • Income tax0¢$39.0K

Out of $15.4M in revenue.3 The company lost money this year.

Financial statements

Revenue7891011123$15.4M in 2025+13% since 2018
0$5.0M$10.0M$15.0M$20.0M2018: $13.6M$13.6M20182019: $10.0M$10.0M2019−27%2020: $10.9M$10.9M2020+10%2021: $13.3M$13.3M2021+22%2022: $16.8M$16.8M2022+27%2023: $15.9M$15.9M2023−6%2024: $15.4M$15.4M2024−3%2025: $15.4M$15.4M2025+0%
Gross profit7891011123$10.2M in 2025+50% since 2018
0$5.0M$10.0M$15.0M2018: $6.8M$6.8M20182019: $4.6M$4.6M2019−33%2020: $6.4M$6.4M2020+39%2021: $8.7M$8.7M2021+36%2022: $11.7M$11.7M2022+34%2023: $10.9M$10.9M2023−7%2024: $10.4M$10.4M2024−4%2025: $10.2M$10.2M2025−2%
Operating income7891011123-$2.4M in 2025−65% since 2018
-$15.0M-$10.0M-$5.0M02018: -$7.0M-$7.0M20182019: -$11.1M-$11.1M2019+58%2020: -$1.6M-$1.6M2020−85%2021: -$1.2M-$1.2M2021−28%2022: -$1.9M-$1.9M2022+60%2023: -$9.9M-$9.9M2023+423%2024: -$2.0M-$2.0M2024−80%2025: -$2.4M-$2.4M2025+20%
Net income7891011123-$2.5M in 2025−65% since 2018
-$10.0M-$5.0M0$5.0M2018: -$7.2M-$7.2M20182019: -$9.5M-$9.5M2019+31%2020: $326.0K$326.0K20202021: -$6.7M-$6.7M20212022: $2.1M$2.1M20222023: -$9.4M-$9.4M20232024: -$2.0M-$2.0M2024−79%2025: -$2.5M-$2.5M2025+28%

Every line of the income statement as filed: the last 2 fiscal years, latest first.3

Period ending2025-09-302024-09-30
Net revenue$15.4M$15.4M
Cost of revenue$5.1M$4.9M
Gross profit$10.2M$10.4M
Sales and marketing$4.5M$3.7M
General and administrative$3.1M$3.3M
Research and development$4.0M$4.2M
Depreciation and amortization$779.0K$1.1M
Restructuring and acquisition related expenses$242.0K$210.0K
Total operating expenses$12.7M$12.5M
Loss from operations-$2.4M-$2.0M
Interest expense and other, net-$126.0K-$61.0K
Change in fair value of warrant liabilities-$4.0K$76.0K
Loss before income taxes-$2.6M-$2.0M
Provision for (benefit from) income taxes-$39.0K-$43.0K
Net loss-$2.5M-$2.0M
Redemption of Series C Convertible Preferred Stock-$331.0K$0
Net loss attributable to common shareholders-$2.8M-$2.0M
Basic (in dollars per share)-$0.25-$0.19
Diluted (in dollars per share)-$0.25-$0.19
Basic (in shares)11.2M shares10.4M shares
Diluted (in shares)11.2M shares10.4M shares

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Corporate structure

Bridgeline Digital, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Bridgeline Digital, Inc.

  • BARD ASSOCIATES INC Filed SCHEDULE 13G/A on Bridgeline Digital, Inc., latest Feb 13, 2026 (3 filings since Apr 4, 2025)
  • Roger E. Kahn Filed SCHEDULE 13D/A on Bridgeline Digital, Inc., latest Feb 3, 2026 (9 filings since Aug 30, 2022)
  • Per A. Jacobsen Filed SCHEDULE 13G/A on Bridgeline Digital, Inc., latest Dec 23, 2024 (34 filings since Mar 8, 2023)
  • VANGUARD GROUP INC Filed SC 13G/A on Bridgeline Digital, Inc., latest Nov 12, 2024 (3 filings since Feb 13, 2024)
  • Orin Hirschman Filed SC 13G/A on Bridgeline Digital, Inc., latest Jun 30, 2022 (2 filings since Feb 11, 2022)
  • Hudson Bay Capital Management LP Filed SC 13G/A on Bridgeline Digital, Inc., latest Feb 3, 2022
  • Bridgeline Digital, Inc. Burlington, Massachusetts, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Bridgeline Digital, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$651.0K3 Sep 30, 2025$632.0K3 Sep 30, 2024+3.0%
Accumulated depreciation$605.0K3 Sep 30, 2025$558.0K3 Sep 30, 2024+8.4%
Property and equipment, net$46.0K3 Sep 30, 2025$74.0K3 Sep 30, 2024−37.8%
Operating-lease assets (leased space)$134.0K3 Sep 30, 2025$163.0K3 Sep 30, 2024−17.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.6M3 Sep 30, 2025$1.4M3 Sep 30, 2024+17.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$8.5M3 Sep 30, 2025$8.5M3 Sep 30, 20240%
Intangible assets, net (excluding goodwill)$3.2M3 Sep 30, 2025$3.9M3 Sep 30, 2024−18.7%
Finite-lived intangibles, gross$3.2M3 Sep 30, 2025$3.9M3 Sep 30, 2024−18.7%
Finite-lived intangibles, net$3.9M12 Sep 30, 2024$4.9M12 Sep 30, 2023−20.1%

Properties, in its own words

The following table lists our office locations, all of which are leased:

Geographic Location · Address · Description

The rest of Item 2

Woburn, Massachusetts · 100 Sylvan Rd, Suite G-700, Woburn, MA 01801 · Professional office space

Garden City, New York · 229 7th Street, Suite 306, Garden City, NY 11530 · Professional office space

Rosemont, Illinois · 5600 North River Rd, Suite 100, Rosemont, IL 60018 · Professional office space

Atascadero, California · 6225 Atascadero Ave, Atascadero, CA 93422 · Professional office space

Ontario, Canada · Perth Mews RO, Perth, ON K7H 3A0, Canada · PO Box

Brussels, Belgium · Cours Saint Michel 30B, 1040 Etterbeek, Brussels, Belgium · Professional office space

We believe that our existing office space is adequate to meet current requirements, and that suitable additional or substitute space will be available as needed to accommodate our operations.

Item 2 of the 10-K filed Dec 19, 2025.6

Leadership

Who has led Bridgeline Digital, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Thomas L. Massie2007–2014
  2. Roger E. Kahn2016–now

President

  1. Thomas L. Massie2007–2014
  2. Roger E. Kahn2016–now

Chief financial officer

  1. Gary M. Cebula2007–2008
  2. Ronald M. Levenson2009
  3. Michael Prinn2012–2017
  4. Carole Ann Tyner2018
  5. Mark G. Downey2019
  6. Thomas R. Windhausen2021–now

Chief operating officer

  1. Erez Katz2010–2011
  2. Roger E. Kahn2015
2010201520202025
Board members and other officers (15)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Bridgeline Digital Canada, Inc.5

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Bridgeline Software, Inc.Dec 13, 2006 to Mar 22, 20104

Timeline

  1. Oct 6, 20268-K Results of operations39
  2. Sep 22, 20268-K Shareholder vote40
  3. Aug 18, 20268-K Results of operations41
  4. Jul 14, 20268-K Entered a material agreement42
  5. Jun 16, 20268-K Other events43
  6. May 19, 20268-K Results of operations44
  7. May 4, 20268-K Regulation FD disclosure45
  8. Feb 18, 20268-K Results of operations46
  9. Feb 3, 20268-K Listing notice or transfer47
  10. Dec 23, 20258-K Results of operations; Regulation FD disclosure48
  11. Sep 19, 20258-K Shareholder vote49
  12. Aug 18, 20258-K Results of operations50
  13. May 19, 2016New chief executive Roger E. Kahn becomes CEO15
  14. Jun 28, 2007New chief executive Thomas L. Massie becomes CEO16
  15. Aug 28, 2000Founded Bridgeline Digital, Inc. is founded2

Calendar

When it reported results

  1. Oct 6, 2026Reported quarterly or annual results39
  2. Aug 18, 2026Reported quarterly or annual results41
  3. May 19, 2026Reported quarterly or annual results44
  4. Feb 18, 2026Reported quarterly or annual results46
  5. Dec 23, 2025Reported quarterly or annual results48
  6. Aug 18, 2025Reported quarterly or annual results50
  7. May 19, 2025Reported quarterly or annual results51
  8. Feb 18, 2025Reported quarterly or annual results52

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

214 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 49 major events, 73 insider forms, 52 large holders, 1 private raises, 19 other. The latest 20:

  1. Oct 6, 20268-K EDGAR
  2. Sep 22, 20268-K EDGAR
  3. Aug 18, 20268-K EDGAR
  4. Aug 13, 202610-Q EDGAR
  5. Aug 7, 2026DEF 14A EDGAR
  6. Jul 14, 20268-K EDGAR
  7. Jul 14, 2026424B5 EDGAR
  8. Jun 16, 20268-K EDGAR
  9. May 19, 20268-K EDGAR
  10. May 15, 202610-Q EDGAR
  11. May 4, 20268-K EDGAR
  12. Mar 16, 20264 EDGAR
  13. Mar 16, 20264 EDGAR
  14. Mar 16, 20264 EDGAR
  15. Mar 16, 20264 EDGAR
  16. Mar 11, 20264 EDGAR
  17. Mar 4, 20264 EDGAR
  18. Feb 26, 20264 EDGAR
  19. Feb 23, 20264 EDGAR
  20. Feb 19, 20264 EDGAR

The 214 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

74 open-market trades by officers, directors and large owners since October 2021: 74 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 10, 2026Kahn Roger E.President and CEOBuy10,000$0.93$9.3KForm 4
Mar 3, 2026Ketslakh MichaelDirectorBuy4,472$0.85$3.8KForm 4
Mar 2, 2026Ketslakh MichaelDirectorBuy2,487$0.85$2.1KForm 4
Feb 25, 2026Ketslakh MichaelDirectorBuy10,647$0.85$9.1KForm 4
Feb 24, 2026Ketslakh MichaelDirectorBuy2,394$0.85$2.0KForm 4
Feb 19, 2026Ketslakh MichaelDirectorBuy1,353$0.85$1.1KForm 4
Feb 19, 2026Kahn Roger E.President and CEOBuy5,000$0.85$4.2KForm 4
Feb 18, 2026Kahn Roger E.President and CEOBuy14,000$0.82$11.5KForm 4
Feb 17, 2026Kahn Roger E.President and CEOBuy35,301$0.75$26.5KForm 4
Aug 26, 2025Kahn Roger E.President and CEOBuy39,500$1.38$54.5KForm 4
Jun 20, 2025Kahn Roger E.President and CEOBuy15,000$1.50$22.5KForm 4
May 27, 2025Kahn Roger E.President and CEOBuy48,600$1.53$74.4KForm 4
May 23, 2025Kahn Roger E.President and CEOBuy1,000$1.55$1.6KForm 4
May 22, 2025Kahn Roger E.President and CEOBuy50,500$1.58$79.6KForm 4
Mar 26, 2025KAHN JONIDirectorBuy6,579$1.52$10.0KForm 4
Mar 26, 2025Kahn Roger E.President and CEOBuy33,334$1.52$50.7KForm 4
Mar 26, 2025Ketslakh MichaelDirectorBuy394,736$1.52$600.0KForm 4
Sep 13, 2024Kahn Roger E.President and CEOBuy2,500$1.04$2.6KForm 4
Aug 22, 2024TAGLICH MICHAEL NDirectorBuy20,603$0.89$18.3KForm 4
Aug 20, 2024Kahn Roger E.President and CEOBuy60,000$0.85$51.0KForm 4

All 74 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Roger Kahn57$419.9K$934.9K59
2025Thomas Windhausen47$268.5K$388.4K59
2024CEO and Director$411.3K$723.5K59
2024CFOSecretary and Treasurer$262.1K$337.1K59

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$1.8M 2020–2025
Money received by yearMoney received by year, 2020–2025: $1.8M in all. Private raises (Form D) $720.4K; PPP loans $1.0M.$0$500K$1M$1.5M2020 · PPP loans: $1.0M2020202220242025 · Private raises (Form D): $720.4K2025
Figures by year
YearPrivate raises (Form D)PPP loansTotal
2025$720.4K–$720.4K
2020–$1.0M$1.0M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Mar 26, 2025Raised $720,448 in a private offering of equity60 Form D: 5 investors so far Form D

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA61. Matched to this company by name and state.

  1. Apr 13, 2020$1.0M PPP loan (first draw) from Dime Community Bank61To BRIDGELINE DIGITAL INC, Woburn MA; $1.1M forgiven Jul 6, 2021

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Bard Associates Inc1,030,267$1.2M0.3%−47,503
Renaissance Technologies LLC156,729$181.8K0.0%−2,000
Geode Capital Management, LLC124,054$144.0K0.0%−2,527
Lido Advisors, LLC78,973$91.6K0.0%No change
Vanguard Capital Management LLC76,110$88.3K0.0%No change
Vanguard Fiduciary Trust Co34,680$40.2K0.0%No change
Susquehanna International Group, Llp22,350$25.9K0.0%−699
LPL Financial LLC22,010$25.5K0.0%+3,000
XTX Topco Ltd21,774$25.3K0.0%−2,051
State Street Corp16,200$18.8K0.0%No change
Northern Trust Corp11,551$13.4K0.0%No change
Schonfeld Strategic Advisors LLC10,113$11.7K0.0%−113
Tower Research Capital LLC (TRC)3,422$4.0K0.0%−1,094
UBS Group AG2,020$2.3K0.0%+2,018
Barclays PLC48$560.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Bridgeline Digital, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBridgeline Digital, Inc.1
  • CIK0001378590
  • Employer ID (EIN)52-22639426
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company6
  • Incorporated inDelaware6
  • Fiscal year endsSeptember 301
  • Industry code (SIC)7372 Services-Prepackaged Software1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address100 Trade Center, Suite G-700, Woburn, MA 018011
  • Phone781 376 55551
  • Shares outstanding12,599,879 as of Aug 13, 202614
  • Public float$17.4M as of Mar 28, 20256
  • AuditorPKF O'Connor Davies, LLP, New York, New York PCAOB ID 127; no auditor attestation of internal control over financial reporting6
  • On EDGAR sinceDec 13, 20061
  • Filings835 in all: 4 (231), 8-K (216), SC 13G/A (57), 10-Q (54), 3 (23), DEF 14A (21), CORRESP (19), SC 13D/A (19)1
    All 45 form types

    D (18), 10-K (17), SC 13G (17), UPLOAD (16), 4/A (11), S-8 (10), EFFECT (9), 8-K/A (8), PRE 14A (8), S-3 (7), DEFR14A (6), S-3/A (6), 10-K/A (5), 424B5 (5), DEFA14A (5), SB-2/A (5), 10QSB (4), 3/A (4), SC 13D (4), 424B3 (3), ARS (3), SCHEDULE 13G/A (3), 10KSB (2), 424B4 (2), PRER14A (2), REGDEX (2), S-1/A (2), SCHEDULE 13D/A (2), 5 (1), 8-A12B (1), CERTNAS (1), D/A (1), FWP (1), POS EX (1), S-1 (1), SB-2 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Dec 19, 2025
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Aug 7, 2026
    Latest 8-K (8-K) Oct 6, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par value per shareBLINNasdaq

From the cover page of the 10-K filed Dec 19, 2025 (Section 12(b) of the Exchange Act).6

Risk factors and legal proceedings

The risks Bridgeline Digital, Inc. names in Item 1A of its 10-K filed Dec 19, 2025: 27 risks under these headings, as written.6

  • We operate in a rapidly changing environment that involves certain risks and uncertainties, some of which are beyond our control. The risks described below are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially adversely affect our business, financial condition and/or operating results.
  • We have incurred significant net losses since inception and expect to continue to incur operating losses for the foreseeable future. We may never achieve or sustain profitability, which would depress the market price of our common stock and could cause you to lose all or a part of your investment.
  • We may require additional financing to execute our business plan and further expand our operations.
  • A reduction in our license renewal rate could reduce our revenue.
  • We may become dependent upon a concentration of major customers, and a failure to renew our licenses with such customers could reduce our revenue.
  • The length of our sales cycle can alternate markedly, which could result in significant fluctuations in the recognition of license revenues from quarter to quarter.
  • We depend on a third-party cloud platform provider to host our Bridgeline SaaS environment and managed services business and if we were to experience a disruption or interference in service, our business and reputation could suffer.
  • Artificial Intelligence is an emerging area of technology that has and may further impact various aspects of our business operations and customer interactions, we may not be successful in our artificial intelligence initiatives, which could adversely affect our business, financial condition and/or operating results.
  • If our security measures or those of our third-party cloud computing platform provider are breached and unauthorized access is obtained to a customer’s data, our services may be perceived as not being secure, and we may incur significant legal and financial exposure and liabilities.
  • Our operating lease commitments may adversely affect our financial condition and cash flows from operations.
  • We face intense and growing competition, which could result in price reductions, reduced operating margins and loss of market share.
  • If our products fail to perform properly due to undetected errors or similar problems, our business could suffer, and we could face product liability exposure.
The other 15 risks
  • Technology and customer requirements evolve rapidly in our industry, and if we do not continue to develop new products and enhance our existing products in response to these changes, our business could suffer.
  • If we are unable to protect our proprietary technology and other intellectual property rights, our ability to compete in the marketplace may be substantially reduced.
  • If a third party asserts that we infringe upon its proprietary rights, we could be required to redesign our products, pay significant royalties or enter into license agreements.
  • Increasing government regulation could affect our business and may adversely affect our financial condition.
  • General Risk Factors
  • Our revenue and quarterly results may fluctuate, which could adversely affect our stock price.
  • If we are unable to manage our future growth efficiently, our business, liquidity, revenues and profitability may suffer.
  • There may be a limited market for our common stock, which may make it more difficult for you to sell your stock and which may reduce the market price of our common stock.
  • The market price of our common stock is volatile, which could adversely affect your investment in our common stock.
  • We are dependent upon our management team and the loss of any of these individuals could harm our business.
  • Our business can be impacted by geopolitical events, trade and other international disputes, war, terrorism, natural disasters, public health issues, and other business interruptions.
  • Because competition for highly qualified personnel is intense, we might not be able to attract and retain the employees we need to support our planned growth.
  • Acquisitions may be difficult to integrate into our existing operations, may disrupt our business, dilute stockholder value, divert management’s attention, or negatively affect our operating results.
  • We have issued preferred stock with rights senior to our common stock, and may issue additional preferred stock in the future, in order to consummate a merger or other transaction necessary to continue as a going concern.
  • We have never paid dividends on our common stock and we do not anticipate paying dividends in the future.
  • We are also subject to anti-takeover provisions under Delaware law, which could delay or prevent a change of control. Together these provisions may make the removal of management more difficult and may discourage transactions that otherwise could involve payment of a premium over prevailing market prices for our securities. Provisions in our amended and restated bylaws and Delaware law may have the effect of discouraging lawsuits against our directors and officers.

Legal proceedings

From time to time, we are subject to ordinary routine litigation and claims incidental to our business. We are not currently involved in any legal proceedings that we believe are material.

The opening of Item 3, Legal Proceedings.6

Sources

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