Rights IssueMay 13, 2026, 08:11 AM
Bloomia Holdings Completes Rights Issue, Reduces Debt by $10M
AI Summary
Bloomia Holdings, Inc. announced its Q3 fiscal year 2026 financial results, reporting a net loss of $0.8 million, or $0.43 per diluted share, compared to net income of $0.4 million in the prior year. For the nine months, the net loss increased to $5.9 million. Despite declining profitability, the company successfully completed a rights offering, raising $12.1 million in gross proceeds, which enabled a $4.9 million long-term debt payment and resulted in approximately $10 million in debt forgiveness, significantly de-levering the company for future growth.
Key Highlights
- Completed rights offering, raising $12.1M gross proceeds ($5M cash, $7.1M debt conversion).
- Used proceeds to pay down $4.9M long-term debt, resulting in $10M debt forgiveness.
- Q3 net revenue increased 16.1% to $14.4M from $12.4M year-over-year.
- Q3 net loss attributable to Bloomia Holdings was $0.8M (-$0.43/share) vs. $0.4M income ($0.25/share) in prior year.
- Nine-month net loss attributable to Bloomia Holdings increased to $5.9M (-$3.33/share) from $3.6M (-$2.04/share).
- Q3 EBITDA decreased 65.4% to $0.9M from $2.6M year-over-year.
- Working capital increased to $4.8M at March 31, 2026, from $1.1M at June 30, 2025.