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Lendway Inc., now Bloomia Holdings, Inc., reports developments tied to its Bloomia tulip operating business and its transition from the former LDWY identity to the TULP Nasdaq ticker. Company updates center on seasonal flower sales, tulip bulb purchasing, gross margin, working capital and debt levels, with operating performance concentrated around spring holidays such as Valentine's Day, Easter and Mother's Day.
Recurring announcements also cover governance and capital-structure matters, including annual meeting procedures, authorized share changes, financing agreements and the corporate name change that aligned the public company with Bloomia.
Lendway, Inc. (NASDAQ:LDWY) will change its corporate name to Bloomia Holdings, Inc., effective on or around February 2, 2026. The company's common stock will begin trading under the new ticker TULP on the Nasdaq Capital Market; the CUSIP will remain unchanged.
The change aligns the corporate identity with the company's tulip business, Bloomia, described as its primary focus and majority-owned fresh-cut tulip production operations in the U.S. Investor contact and website information remain available through the company's existing channels.
Lendway (Nasdaq:LDWY) announced a strategic rights offering to reduce debt, strengthen the balance sheet, and fund strategic investments, while changing its legal name to Bloomia Holdings, Inc. The company said proceeds would settle a sellers' note for $7.33M (resulting in a stated $8.0M gain and about $1.6M annual interest savings), repay related party notes of $6.6M (with over $600k annual interest savings), and allocate $1.37M to strategic investments, plus ~$200k fees, for a total offering size of $15.5M. Management said the transaction could reduce overall debt by up to 40% immediately and potentially by 70% early this Summer if the offering is successful; the company plans to begin trading under ticker TULP when the name change is effective.
Lendway (Nasdaq:LDWY) reported results for the three months ended September 30, 2025.
Key metrics: Revenue $5.2M (down from $6.6M a year earlier), gross loss $0.06M (negative 1.2% margin), operating loss $3.0M, net loss attributable to Lendway $2.9M or $1.61 per diluted share, and EBITDA loss $2.4M. Cash and cash equivalents were $1.8M and working capital was $11.3M as of September 30, 2025. Total debt rose to $45.5M, driven by draws and promissory notes used to purchase tulip bulbs for the upcoming high season.
Lendway Inc. (Nasdaq:LDWY) reported strong financial results for Q2 2025, with net revenue of $23.2 million and net income of $1.0 million ($0.58 per diluted share), compared to a net loss of $0.5 million in Q2 2024. The company achieved significant improvements with operating income of $2.5 million, up from $0.2 million year-over-year.
Key financial metrics for Q2 2025 include gross profit of $5.4 million (23.3% of sales) and Adjusted EBITDA of $2.6 million. The six-month results showed net revenue of $35.6 million and operating income of $3.9 million, marking a substantial turnaround from a $1.5 million operating loss in the same period last year. The company's improved performance was driven by record-breaking Mother's Day sales and the successful integration of the Bloomia acquisition.
Lendway (Nasdaq:LDWY) has announced its 2025 Annual Meeting of stockholders will be held on November 19, 2025. The meeting date was set more than 30 days after the previous annual meeting anniversary due to the company's fiscal year-end change from December 31 to June 30.
Stockholders wishing to submit proposals for inclusion in proxy materials must do so by August 29, 2025. The same deadline applies for business proposals and director nominations not included in the proxy statement. For universal proxy rules compliance, stockholders planning to solicit proxies for alternative director nominees must provide notice by September 20, 2025.
Lendway (NASDAQ:LDWY) reported Q4 and full-year 2024 financial results, showing mixed performance following the Bloomia acquisition. Q4 2024 saw net revenue of $6.2M with a gross loss of $0.6M (9.4% of sales) and operating loss of $3.9M. For full-year 2024, net revenue reached $37.8M with gross profit of $6.5M (17.2% of sales), while operating loss was $6.7M.
The company reported positive Adjusted EBITDA of $1.0M for 2024, compared to a loss of $3.5M in 2023. Bloomia has earned $3.7M of adjusted EBITDA since acquisition. Cash position stood at $1.8M as of December 31, 2024, with working capital of $11.0M. Total debt was $42.1M, primarily from the Bloomia acquisition.
The business shows strong seasonality, with first and second quarters typically being the strongest due to Valentine's Day, Easter, and Spring season sales. Management expects higher revenue over the next six months due to successful increase in bulb sourcing, despite challenging weather conditions affecting harvest.
Lendway (NASDAQ:LDWY) reported Q3 2024 financial results with net revenue of $6.6 million and gross profit of $1.4 million (21.7% of sales). The company posted an operating loss of $1.4 million, improved from $1.6 million loss in Q3 2023. Net loss was $1.1 million ($0.64 per share) compared to net income of $1.1 million in Q3 2023. Cash position stood at $1.3 million with working capital of $11.5 million. Bloomia, acquired in February 2024, contributed all revenue and has earned $5.0 million in adjusted EBITDA since acquisition. The company noted seasonal weakness in Q3 but secured increased tulip bulb supply despite market scarcity.
Lendway, Inc. (NASDAQ:LDWY) reported improved financial results for Q2 2024. Key highlights include:
- Net revenue of $16.8 million
- Gross profit of $4.0 million (23.7% of sales)
- Operating loss reduced to $0.1 million from $0.6 million in Q2 2023
- Adjusted EBITDA of $1.8 million compared to a loss of $0.5 million in Q2 2023
- Cash generated from operations increased to $3.5 million
The improvement is largely attributed to the acquisition of Bloomia, a leading US tulip producer. However, the company reported a net loss of $0.7 million ($0.42 per share) due to acquisition-related costs and increased interest expenses. Management expects seasonality in sales, with stronger performance in Q1 and Q2.
Lendway (NASDAQ: LDWY) has announced that Mark J. Jundt and Daniel C. Philp will become Co-Chief Executive Officers, effective July 1, 2024. This leadership change follows the resignation of current CEO Randy D. Uglem. Jundt, who has been with Lendway's Board since November 2022 and served as its Chair since August 2023, brings extensive experience in corporate governance, mergers, acquisitions, and litigation. Philp, also a Board member since November 2022, has been with Air T since 2014 and played a key role in the acquisition of Bloomia, B.V. The Board believes that the dual leadership will enhance strategic initiatives, administration, and corporate governance.