Bloomia Holdings, Inc. Announces March 31, 2026 Financial Results
Rhea-AI Summary
Bloomia Holdings (Nasdaq:TULP) reported Q3 FY2026 results for the period ended March 31, 2026. Net revenue rose to $14.4M from $12.4M, but gross margin fell to 19.8% and the company recorded a small operating loss and $0.8M net loss.
For the nine months, revenue was $26.3M with a $5.9M net loss. A rights offering raised $12.1M, including $7.1M of debt conversion, and enabled a $4.9M debt payment that resulted in approximately $10M of debt forgiveness.
Positive
- Q3 FY2026 net revenue increased to $14.4M from $12.4M
- Nine-month FY2026 net revenue grew to $26.3M from $25.3M
- Q3 FY2026 EBITDA positive at $0.9M versus $2.6M prior year
- Rights offering raised $12.1M, including $7.1M debt conversion
- Approximately $10M of long-term debt forgiven after $4.9M payment
- Working capital improved to $4.8M from $1.1M at June 30, 2025
Negative
- Q3 gross margin declined to 19.8% from 31.3% year over year
- Nine-month gross margin fell to 12.5% from 18.8% prior year
- Q3 swung to $0.8M net loss from $0.4M net income
- Nine-month net loss widened to $5.9M from $3.6M
- Nine-month EBITDA loss increased to $2.9M from $0.7M
- Total debt rose to $47.5M from $34.1M at June 30, 2025
- Cash used in operations reached $11.1M for nine months FY2026
News Market Reaction – TULP
In the May 13 session, TULP declined 3.21%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 27 | Rights offering extension | Neutral | -2.9% | Extended rights offering deadline to give holders more time to participate. |
| Mar 16 | Investor presentation | Neutral | +0.5% | Released investor presentation outlining rights offering and strategic overview. |
| Feb 13 | Earnings and offering | Negative | -6.0% | Reported Q2 losses and high debt alongside ongoing rights offering process. |
| Feb 06 | Rights offering launch | Neutral | +8.8% | Set record date and terms for rights offering to raise up to $15.5M. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news flow has centered on a sizable rights offering and related communications, with the last earnings-linked update drawing a negative price reaction.
Over the past few months, Bloomia has focused on balance-sheet restructuring via a rights offering and ongoing investor communication. The company announced a record date and terms for a rights offering of up to $15.5M on Feb 6, 2026, followed by Q2 fiscal 2026 results on Feb 13, 2026 that showed continued operating losses and high debt. Subsequent updates in mid- and late-March extended and explained the offering. Today’s Q3 fiscal 2026 earnings and rights-offering outcome build directly on that deleveraging strategy, showing higher revenue but weaker profitability.
Key Terms
ebitda financial
working capital financial
rights offering financial
revolving line of credit financial
long-term debt financial
foreign currency transaction gain financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
MINNEAPOLIS, MN / ACCESS Newswire / May 13, 2026 / Bloomia Holdings, Inc. (Nasdaq:TULP) ("Bloomia Holdings" or the "Company") today announced its financial results for the third fiscal quarter ended March 31, 2026.
Overview
Three Months Ended March 31, 2026
Net revenue was
$14.4 million compared to$12.4 million in the three months ended March 31, 2025.Gross profit was
$2.9 million , or19.8% of sales, compared to$3.9 million , or31.3% of sales, in the three months ended March 31, 2025.Operating loss of
$0.02 million compared to operating income of$1.4 million in the three months ended March 31, 2025.Net loss from continuing operations was
$0.8 million compared to income of$0.6 million in the three months ended March 31, 2025.Net loss attributable to Bloomia Holdings was
$0.8 million , or a loss of$0.43 per diluted share, compared to net income of$0.4 million , or$0.25 per diluted share, in the three months ended March 31, 2025.EBITDA was
$0.9 million compared to$2.6 million in the three months ended March 31, 2025.
Nine Months Ended March 31, 2026
Net revenue was
$26.3 million compared to$25.3 million in the nine months ended March 31, 2025.Gross profit was
$3.3 million , or12.5% of sales, compared to$4.7 million , or18.8% of sales, in the nine months ended March 31, 2025.Operating loss of
$5.4 million compared to an operating loss of$3.8 million in the nine months ended March 31, 2025.Net loss from continuing operations was
$6.8 million compared to a loss of$4.2 million in the nine months ended March 31, 2025.Net loss attributable to Bloomia Holdings was
$5.9 million , or a loss of$3.33 per diluted share, compared to net loss of$3.6 million , or a loss of$2.04 per diluted share, in the nine months ended March 31, 2025.EBITDA was a loss of
$2.9 million compared to a loss of$0.7 million in the nine months ended March 31, 2025.Cash used in operations was
$11.1 million compared to$7.3 million in the nine months ended March 31, 2025.
Bloomia Holding's Chairman and Co-Chief Executive Officer, Mark Jundt, commented, "Revenue growth in this quarter demonstrates the strength of both our market position and customer relationships. Our increased stem availability positions us well for a strong fourth quarter in which demand historically is higher than stem availability. As we've highlighted in the past, this year we've been challenged by rising raw material costs, tariffs, and a strengthening Euro versus the US Dollar. As these external factors appear to be resolving in our favor, we are pleased that we invested in maintaining market share, which now has us looking forward to a more profitable fiscal year 2027." Co-Chief Executive Officer Dan Philp added, "It was a very busy and exciting quarter for Bloomia. We closed a successful rights offering, and paid down high interest debt at a
Q3 Fiscal Year 2026 Results
Net Revenue
Net revenue was
Net revenue was
Gross profit
Gross profit in the three months ended March 31, 2026 was
Gross profit in the nine months ended March 31, 2026 was
Operating (loss) profit
The Company had an operating loss of
The Company had operating loss of
Net (loss) income from continuing operations
Net loss from continuing operations was
Net loss from continuing operations was
Net (loss) income attributable to Bloomia Holdings
Net loss attributable to Bloomia Holdings for the three months ended March 31, 2026 was
Net loss attributable to Bloomia Holdings for the nine months ended March 31, 2026 was
EBITDA
In the three months ended March 31, 2026, EBITDA was
In the nine months ended March 31, 2026, EBITDA was a loss of
Balance Sheet
As of March 31, 2026, cash and cash equivalents totaled
Rights Offering
The Company recently conducted a rights offering that commenced in February 2026 and expired on April 1, 2026. Pursuant to the rights offering, the Company distributed non-transferable subscription rights to stockholders of record as of February 16, 2026. Each eligible stockholder was entitled to subscribe for additional shares of the Company's common stock in proportion to their existing ownership, with the opportunity to participate in an over-subscription privilege, subject to availability and proration. The Company received gross proceeds from the rights offering of
About Bloomia Holdings, Inc.
On January 28, 2026, the Company changed its name to Bloomia Holdings, Inc. by filing an amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware. As a result of the name change, effective February 2, 2026, the Company's common stock, par value
Bloomia Holdings, Inc (Nasdaq: TULP) is a specialty ag company focused on making and managing its ag investments in the U.S. and internationally. The Company is the majority owner of Bloomia, one of the largest producers of fresh-cut tulips in the United States. For additional information, contact (800) 874-4648 or visit our website at www.bloomiaholdingco.com. Investor inquiries can be submitted to info@bloomiaholdingco.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release that are not statements of historical or current facts are considered "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance of the Company to be materially different from the results or performance expressed or implied by such forward-looking statements. The words "anticipate," "believe," "could," "estimate," "expect," "future," "groundwork," "intend," "likely," "may," "plan," "project," "set ourselves up," "will" and similar expressions identify forward-looking statements. Forward-looking statements include statements expressing the intent, belief or current expectations of the Company and members of our management team regarding, for instance: (i) our belief that our cash balance, cash generated by operations and borrowings available under our Credit Agreement, will provide adequate liquidity and capital resources for at least the next twelve months and (ii) regarding the potential for growth and other opportunities for our business. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. These statements are subject to the risks and uncertainties that could cause actual results to differ materially and adversely from the forward-looking statements. These forward-looking statements are based on current information, which we have assessed and which by its nature is dynamic and subject to rapid and even abrupt changes.
Factors that could cause our estimates and assumptions as to future performance, and our actual results, to differ materially include the following: (1) our ability to compete, (2) concentration of revenue among a small number of customers, (3) dependency on Dutch tulip bulbs, (4) changes in interest rates, (5) ability to comply with the requirements of the Credit Agreement and operate within its restrictions, (6) economic and market conditions that may restrict or delay appropriate or desirable opportunities, (7) our ability to develop and maintain necessary processes and controls relating to our businesses, (8) reliance on one or a small number of employees, (9) our ability to generate enough cash or secure enough capital to execute our business plans, (10) our ability to obtain seasonal workers, (11) other economic, international, business, market, financial, competitive and/or regulatory factors affecting the Company's businesses generally, (12) exchange rate fluctuations, (13) tariffs, and (14) the availability of additional capital on desirable terms, if at all. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including those set forth in our Transition Report on Form 10-KT for the six months ended June 30, 2025 and additional risks, identified in our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K filed with the SEC. Such forward-looking statements should be read in conjunction with the Company's filings with the SEC. The Company assumes no responsibility to update the forward-looking statements contained in this press release or the reasons why actual results would differ from those anticipated in any such forward-looking statement, other than as required by law.
Bloomia Holdings, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (Unaudited)
(Values are rounded to the nearest thousand dollars and thousand shares)
Three Months Ended | Nine Months Ended | |||||||||||||||
March 31, | March 31, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Revenue, net | $ | 14,436,000 | $ | 12,443,000 | $ | 26,328,000 | $ | 25,263,000 | ||||||||
Cost of goods sold | 11,575,000 | 8,554,000 | 23,043,000 | 20,516,000 | ||||||||||||
Gross profit | 2,861,000 | 3,889,000 | 3,285,000 | 4,747,000 | ||||||||||||
Sales, general and administrative expenses | 2,881,000 | 2,457,000 | 8,637,000 | 8,553,000 | ||||||||||||
Operating (loss) profit | (20,000 | ) | 1,432,000 | (5,352,000 | ) | (3,806,000 | ) | |||||||||
Foreign currency transaction (gain) loss, net | (15,000 | ) | (335,000 | ) | 191,000 | (699,000 | ) | |||||||||
Interest expense, net | 1,134,000 | 970,000 | 3,043,000 | 2,750,000 | ||||||||||||
Other expense (income), net | 19,000 | 24,000 | (17,000 | ) | (32,000 | ) | ||||||||||
(Loss) income from continuing operations before income taxes | (1,158,000 | ) | 773,000 | (8,569,000 | ) | (5,825,000 | ) | |||||||||
Income tax (benefit) expense | (405,000 | ) | 156,000 | (1,787,000 | ) | (1,625,000 | ) | |||||||||
Net (loss) income from continuing operations | (753,000 | ) | 617,000 | (6,782,000 | ) | (4,200,000 | ) | |||||||||
Income from discontinued operations, net of tax | - | 10,000 | - | 98,000 | ||||||||||||
Net (loss) income including noncontrolling interest | (753,000 | ) | 627,000 | (6,782,000 | ) | (4,102,000 | ) | |||||||||
Less: Net income (loss) attributable to noncontrolling interest | 12,000 | 178,000 | (887,000 | ) | (486,000 | ) | ||||||||||
Net (loss) income attributable to Bloomia Holdings, Inc. | (765,000 | ) | 449,000 | (5,895,000 | ) | (3,616,000 | ) | |||||||||
Other comprehensive (loss) income (foreign currency translation) | (370,000 | ) | 22,000 | (282,000 | ) | (35,000 | ) | |||||||||
Less: Comprehensive (loss) income attributable to noncontrolling interest | (69,000 | ) | 4,000 | (53,000 | ) | (7,000 | ) | |||||||||
Comprehensive (loss) income attributable to Bloomia Holdings, Inc. | $ | (1,066,000 | ) | $ | 467,000 | $ | (6,124,000 | ) | $ | (3,644,000 | ) | |||||
Net (loss) income per basic and diluted share attributable to Bloomia Holdings, Inc.: | ||||||||||||||||
Continuing operations | $ | (0.43 | ) | $ | 0.25 | $ | (3.33 | ) | $ | (2.10 | ) | |||||
Discontinued operations | - | 0.01 | - | 0.06 | ||||||||||||
Basic and diluted earnings per share | $ | (0.43 | ) | $ | 0.25 | $ | (3.33 | ) | $ | (2.04 | ) | |||||
Weighted average shares used in calculation of net (loss) income per share: | ||||||||||||||||
Basic and diluted | 1,773,000 | 1,770,000 | 1,771,000 | 1,770,000 | ||||||||||||
SELECTED BALANCE SHEET DATA
March 31, 2026 | June 30, 2025 | |||||||
Cash and cash equivalents | $ | 889,000 | $ | 906,000 | ||||
Working capital (1) | 4,796,000 | 1,089,000 | ||||||
Total assets | 103,344,000 | 97,924,000 | ||||||
Total debt | 47,479,000 | 34,083,000 | ||||||
Total liabilities | 95,523,000 | 83,087,000 | ||||||
Stockholders' equity | 7,821,000 | 14,837,000 | ||||||
Working capital represents current assets less current liabilities.
Non-GAAP Reconciliations
This press release includes EBITDA and Adjusted EBITDA, which are non-GAAP financial measures. Non-GAAP financial measures, which are not calculated or presented in accordance with U.S. generally accepted accounting principles ("GAAP"), have been provided as information supplemental and in addition to the financial measures presented in accordance with GAAP. Such non-GAAP financial measures are not substitutes for, or as an alternative to, and should be considered in conjunction with, the respective GAAP financial measures. The non-GAAP financial measures presented may differ from similarly named measures used by other companies.
Included below are reconciliations of EBITDA and adjusted EBITDA to net (loss) income from continuing operations, the most directly comparable GAAP measure. EBITDA does not reflect our cash expenditures, the cash requirements for the replacement of depreciated and amortized assets, or changes in cash requirements for our working capital needs. We believe EBITDA and Adjusted EBITDA provide meaningful supplemental information about our operating performance as these measures exclude amounts from income from discontinued operations that we do not consider part of our core operating results when assessing our performance.
The following table reconciles net (loss) income from continuing operations to EBITDA and Adjusted EBITDA for the three and nine months ended March 31, 2026 and 2025:
Three Months Ended | Nine Months Ended | |||||||||||||||
March 31, | March 31, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Net (loss) income from continuing operations | $ | (753,000 | ) | $ | 617,000 | $ | (6,782,000 | ) | $ | (4,200,000 | ) | |||||
Interest expense, net | 1,134,000 | 970,000 | 3,043,000 | 2,750,000 | ||||||||||||
Income tax (benefit) expense | (405,000 | ) | 156,000 | (1,787,000 | ) | (1,625,000 | ) | |||||||||
Depreciation and amortization | 933,000 | 835,000 | 2,668,000 | 2,368,000 | ||||||||||||
EBITDA | 909,000 | 2,578,000 | (2,858,000 | ) | (707,000 | ) | ||||||||||
Acquisition and integration-related related costs | - | 24,000 | - | 24,000 | ||||||||||||
Severance | - | 39,000 | - | 39,000 | ||||||||||||
Adjusted EBITDA | $ | 909,000 | $ | 2,641,000 | $ | (2,858,000 | ) | $ | (644,000 | ) | ||||||
We believe these non-GAAP financial measures are useful to permit investors to compare results with prior periods. Management uses EBITDA and Adjusted EBITDA (a) to evaluate our historical and prospective financial performance and trends as well as our performance relative to competitors and peers; (b) to measure operational profitability consistently; (c) in presentations to the members of our Board of Directors; and (d) to evaluate compliance with covenants and restricted activities under the terms of our Credit Agreement.
Contact:
Bloomia Holdings, Inc.
Biz McShane, CFO
(763) 392-6200
SOURCE: Bloomia Holdings, Inc.
View the original press release on ACCESS Newswire