BLUM HOLDINGS INC. (BLMH) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q3 FY2025, filed Nov 14, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BLMH SEC filings page.
BLUM HOLDINGS INC. (BLMH) reported $13.6M in revenue over the twelve months to Sep 30, 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Profitability returned through operating improvement, but cash conversion and a liability-heavy balance sheet keep the business financially uneven.
In FY2024, operating income was positive while operating cash flow remained-$1.5M and free cash flow-$1.6M ; the accounting turnaround therefore had not yet become cash generation. The$27.7M gap between net income and operating income means below-operating-line items materially shaped the bottom line, making net profit a less direct measure of the operating engine.
Operating results swung from a
The reported liquidity comparison equaled 8.1 months of FY2024 operating outflow, but the current ratio was only 0.3x. Combined with liabilities exceeding assets and negative equity, that indicates the improved income statement had not yet translated into a comfortably financed balance sheet.
Financial Health Signals
BLUM HOLDINGS INC. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
BLUM HOLDINGS INC. scores -22.70, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($6.9M) relative to total liabilities ($29.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
BLUM HOLDINGS INC. passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, BLUM HOLDINGS INC. used $0.05 of operating cash (-$1.5M OCF vs $33.1M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
BLUM HOLDINGS INC. earns $2.54 in operating income for every $1 of interest expense ($5.4M vs $2.1M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
BLUM HOLDINGS INC. generated $4.8M in revenue in Q3 2025. This represents an increase of 11.1% from the same quarter a year earlier. Against the prior quarter it is up 39.4%.
BLUM HOLDINGS INC.'s EBITDA was -$1.2M in Q3 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 38.7% from the same quarter a year earlier. Against the prior quarter it is down 97.7%.
BLUM HOLDINGS INC. reported -$2.6M in net income in Q3 2025. This represents an increase of 23.5% from the same quarter a year earlier. Against the prior quarter it is down 35.6%.
Not reported for Q3 2025.
Cash & Balance Sheet
BLUM HOLDINGS INC. recorded an outflow of $683K in free cash flow in Q3 2025, representing a cash shortfall after capex. This represents a decrease of 48.5% from the same quarter a year earlier. Against the prior quarter it is down 37.7%.
BLUM HOLDINGS INC. held $388K in cash against $4.0M in long-term debt as of Q3 2025.
Not reported for Q3 2025.
Margins & Returns
BLUM HOLDINGS INC.'s gross margin was 47.9% in Q3 2025, indicating the percentage of revenue retained after direct costs. This is down 8.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.
BLUM HOLDINGS INC.'s operating margin was -30.9% in Q3 2025, reflecting core business profitability. This is up 19.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.6 percentage points.
BLUM HOLDINGS INC.'s net profit margin was -52.8% in Q3 2025, showing the share of revenue converted to profit. This is up 23.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.5 percentage points.
Not reported for Q3 2025.
Capital Allocation
BLUM HOLDINGS INC. invested $25K in capex in Q3 2025, funding long-term assets and infrastructure. This represents an increase of 1150.0% from the same quarter a year earlier. Against the prior quarter it is up 150.0%.
Not reported for Q3 2025.
Not reported for Q3 2025.
BLMH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.8M+11.1% | $3.5M-8.4% | $2.2M+26.3% | $3.1M | $4.4M+181.7% | $3.8M+67.4% | $1.8M-79.4% | N/A |
| Cost of Revenue | $2.5M+31.8% | $1.8M-18.8% | $1.0M+7.5% | $1.7M | $1.9M+87.3% | $2.2M+102.9% | $976K-75.1% | N/A |
| Gross Profit | $2.3M-5.1% | $1.7M+6.1% | $1.2M+49.2% | $1.4M | $2.4M+365.4% | $1.6M+34.8% | $798K-83.0% | N/A |
| SG&A Expenses | $3.8M-11.0% | $2.5M-59.5% | $2.5M-43.2% | $3.7M | $4.3M-12.7% | $6.2M+8.1% | $4.4M-21.0% | N/A |
| Operating Income | -$1.5M+32.0% | -$810K+87.4% | -$1.3M+63.7% | $17.6M | -$2.2M+62.9% | -$6.4M-39.9% | -$3.6M-319.5% | N/A |
| EBITDA | -$1.2M+38.7% | -$620K+89.9% | -$1.2M+66.9% | $17.8M | -$2.0M+65.8% | -$6.2M-37.1% | -$3.5M-4277.5% | N/A |
| Interest Expense | $481K-27.7% | $325K-56.7% | $232K-38.5% | $331K | $665K-29.6% | $750K+557.9% | $377K-63.2% | N/A |
| Income Tax | $463K+7.4% | $331K+15.3% | $247K+814.8% | $672K | $431K | $287K+329.6% | $27K-95.9% | N/A |
| Net Income | -$2.6M+23.5% | -$1.9M-107.9% | -$564K+81.5% | $15.7M | -$3.3M+0.5% | $23.8M+834.1% | -$3.1M-844.1% | N/A |
| EPS (Basic) | -$0.25+37.5% | -$0.19-124.1% | -$0.08+77.1% | $1.81+281.0% | -$0.40-14.3% | $0.79+302.6% | -$0.35-800.0% | -$1.00 |
| EPS (Diluted) | N/A | -$0.19 | -$0.08+77.1% | $1.23+268.5% | -$0.40-8.1% | $0.66 | -$0.35-800.0% | -$0.73 |
| Diluted Shares (Avg) | N/A | 12M | 12M+24.2% | N/A | 10M+0.8% | 11M | 10M+18.6% | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
BLMH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $45.1M+16.6% | $39.4M+3.0% | $23.8M-25.6% | $24.8M-22.6% | $38.7M+5.9% | $38.3M-0.3% | $32.0M-19.0% | $32.1M-20.8% |
| Current Assets | $1.7M-50.9% | $1.7M-61.5% | $2.0M-59.8% | $2.9M-38.8% | $3.5M-49.7% | $4.5M-22.2% | $4.9M | $4.7M+2.6% |
| Cash & Equivalents | $388K-62.1% | $370K-76.8% | $430K-63.4% | $1.0M+150.0% | $1.0M-49.1% | $1.6M+171.1% | $1.2M-13.9% | $416K-65.3% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $706K-47.5% | $724K-47.2% | $478K-71.3% | $674K-39.2% | $1.3M-47.5% | $1.4M-53.6% | $1.7M | $1.1M-33.0% |
| Accounts Receivable | $226K-26.9% | $199K-43.3% | $135K-82.3% | $143K-68.5% | $309K-75.8% | $351K-59.3% | $761K | $454K+45.0% |
| Long-Term Investments | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% | $833K+62390.6% | $313K | $1.1M | $2.1M+884.3% |
| Goodwill | $30.4M+68.8% | $29.3M+80.4% | $17.1M+377.4% | $17.1M | $18.0M+401.7% | $16.3M+353.8% | $3.6M | $0 |
| Total Liabilities | $52.3M-20.9% | $46.0M-25.9% | $29.0M-64.0% | $29.6M-62.0% | $66.2M-11.9% | $62.1M-15.6% | $80.6M+10.2% | $77.8M+0.9% |
| Current Liabilities | $25.4M-50.9% | $22.5M-54.7% | $9.5M-85.5% | $9.7M-84.6% | $51.9M-14.8% | $49.7M-9.0% | $65.7M | $62.5M+5.8% |
| Non-Current Liabilities | $26.9M+88.3% | $23.4M+89.6% | $19.5M+30.9% | $19.9M+30.8% | $14.3M+0.1% | $12.4M-34.8% | $14.9M | $15.2M-15.0% |
| Long-Term Debt | $4.0M-26.2% | $3.7M-34.9% | $2.3M-65.0% | $2.3M-64.3% | $5.4M | $5.6M | $6.5M | $6.5M+34.7% |
| Total Equity | -$11.9M+57.8% | -$9.4M+60.9% | -$7.7M+84.3% | -$6.7M+85.2% | -$28.2M+27.0% | -$24.0M+32.0% | -$48.6M-44.3% | -$45.7M-25.1% |
| Retained Earnings | -$426.1M+2.5% | -$423.5M+2.3% | -$421.6M+7.8% | -$421.1M+7.3% | -$437.0M+2.1% | -$433.4M+2.1% | -$457.2M | -$454.2M-3.2% |
BLMH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$658K-43.7% | -$486K-315.4% | -$364K+50.3% | -$241K+52.4% | -$458K-160.3% | -$117K-112.0% | -$733K+66.9% | -$506K |
| Depreciation & Amortization | $270K+35.0% | $190K-24.0% | $142K+67.1% | $219K+200.0% | $200K+150.0% | $250K+177.8% | $85K-89.0% | $73K |
| Stock-Based Compensation | $0-100.0% | $0-100.0% | $39K-64.5% | N/A | $66K-22.4% | $206K-87.5% | $110K-75.8% | N/A |
| Capital Expenditures | $25K+1150.0% | $10K-61.5% | $0-100.0% | $2K-98.9% | $2K-97.1% | -$26K-71.4% | $32K-79.1% | $181K |
| Free Cash Flow | -$683K-48.5% | -$496K-246.9% | -$364K+52.4% | -$243K+64.6% | -$460K-166.5% | -$143K-116.2% | -$765K+67.7% | -$687K |
| Investing Cash Flow | $72K-17.2% | -$635K-164.7% | -$406K-132.0% | -$307K-102.0% | $87K+227.9% | $982K+1483.9% | $1.3M+101.3% | -$152K |
| Financing Cash Flow | $604K+405.1% | $1.1M+649.7% | $160K+651.7% | $563K+285.8% | -$198K-19900.0% | -$193K+78.7% | -$29K-101.7% | -$303K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
BLMH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.9%-8.2pp | 48.6%+6.6pp | 53.2%+8.2pp | 44.8% | 56.1%+22.1pp | 41.9%-10.2pp | 45.0%-9.5pp | N/A |
| Operating Margin | -30.9%+19.6pp | -23.3% | -58.1% | 575.2% | -50.4% | -169.1% | -202.2% | N/A |
| Net Margin | -52.8%+23.8pp | -54.3% | -25.2% | 511.9% | -76.6% | 628.3% | -172.0% | N/A |
| Return on Assets | -5.7%+3.0pp | -4.8%-67.1pp | -2.4%+7.2pp | 63.0% | -8.6%+0.6pp | 62.3%+70.8pp | -9.6%-10.6pp | N/A |
| Current Ratio | 0.070.0x | 0.080.0x | 0.20+0.1x | 0.30+0.2x | 0.070.0x | 0.090.0x | 0.07 | 0.070.0x |
| Asset Turnover | 0.110.0x | 0.090.0x | 0.090.0x | 0.12 | 0.11+0.1x | 0.100.0x | 0.06-0.2x | N/A |
| FCF Margin | -14.1%-3.6pp | -14.3%-10.5pp | -16.3%+26.9pp | -8.0% | -10.5%-55.2pp | -3.8%-42.6pp | -43.1%-15.7pp | N/A |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Note: Shareholder equity is negative (-$6.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.30), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| BLUM HOLDINGS INC. BLMH | FY2024 | $13.0M | $33.1M | N/A | $6.9M | — |
| PINEAPPLE INC PNPL | FY2022 | N/A | N/A | N/A | $51K | — |
| MEDICINE MAN TECH INC SHWZ | FY2023 | $172.4M | -$34.5M | -20.0% | $802 | — |
Where BLUM HOLDINGS INC. Ranks
Frequently Asked Questions
What is BLUM HOLDINGS INC.'s annual revenue?
BLUM HOLDINGS INC. (BLMH) reported $13.0M in total revenue for fiscal year 2024. This represents a 67.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is BLUM HOLDINGS INC.'s revenue growing?
BLUM HOLDINGS INC. (BLMH) revenue grew by 67.5% year-over-year, from $7.8M to $13.0M in fiscal year 2024.
Is BLUM HOLDINGS INC. profitable?
Yes, BLUM HOLDINGS INC. (BLMH) reported a net income of $33.1M in fiscal year 2024.
What is BLUM HOLDINGS INC.'s EBITDA?
BLUM HOLDINGS INC. (BLMH) had EBITDA of $6.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does BLUM HOLDINGS INC. have?
As of fiscal year 2024, BLUM HOLDINGS INC. (BLMH) had $1.0M in cash and equivalents against $2.3M in long-term debt.
What is BLUM HOLDINGS INC.'s gross margin?
BLUM HOLDINGS INC. (BLMH) had a gross margin of 47.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is BLUM HOLDINGS INC.'s operating margin?
BLUM HOLDINGS INC. (BLMH) had an operating margin of 41.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is BLUM HOLDINGS INC.'s free cash flow?
BLUM HOLDINGS INC. (BLMH) recorded an outflow of $1.6M in free cash flow during fiscal year 2024. This represents a -20.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is BLUM HOLDINGS INC.'s operating cash flow?
BLUM HOLDINGS INC. (BLMH) recorded an outflow of $1.5M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are BLUM HOLDINGS INC.'s total assets?
BLUM HOLDINGS INC. (BLMH) had $24.8M in total assets as of fiscal year 2024, including both current and long-term assets.
What are BLUM HOLDINGS INC.'s capital expenditures?
BLUM HOLDINGS INC. (BLMH) invested $10K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is BLUM HOLDINGS INC.'s current ratio?
BLUM HOLDINGS INC. (BLMH) had a current ratio of 0.30 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is BLUM HOLDINGS INC.'s return on assets (ROA)?
BLUM HOLDINGS INC. (BLMH) had a return on assets of 133.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is BLUM HOLDINGS INC.'s P/E ratio?
BLUM HOLDINGS INC. (BLMH) trades at 0.7x earnings, its market capitalization divided by net income of $10.6M net income, trailing 12 months to September 30, 2025. The market capitalization is $6.9M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is BLUM HOLDINGS INC.'s price-to-sales ratio?
BLUM HOLDINGS INC. (BLMH) trades at 0.5x sales, its market capitalization divided by revenue of $13.6M revenue, trailing 12 months to September 30, 2025. The market capitalization is $6.9M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does BLUM HOLDINGS INC.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, BLUM HOLDINGS INC. (BLMH) held $1.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $1.5M over that year. Dividing the one by the other, the reported balance equals about 8 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is BLUM HOLDINGS INC.'s debt-to-equity ratio negative or not reported?
BLUM HOLDINGS INC. (BLMH) has negative shareholder equity of -$6.7M as of fiscal year 2024, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is BLUM HOLDINGS INC.'s Altman Z-Score?
BLUM HOLDINGS INC. (BLMH) has an Altman Z-Score of -22.70, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is BLUM HOLDINGS INC.'s Piotroski F-Score?
BLUM HOLDINGS INC. (BLMH) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are BLUM HOLDINGS INC.'s earnings high quality?
For every $1 of reported earnings, BLUM HOLDINGS INC. (BLMH) used $0.05 of operating cash (-$1.5M OCF vs $33.1M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can BLUM HOLDINGS INC. cover its interest payments?
BLUM HOLDINGS INC. (BLMH) has an interest coverage ratio of 2.54x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.