Quarterly ResultMay 13, 2026, 10:16 AM
Bloomia Holdings Q3 Net Loss $(0.43) EPS; Breaches Debt Covenants
AI Summary
Bloomia Holdings, Inc. reported a net loss of $(765,000) for the three months ended March 31, 2026, a significant decline from net income of $449,000 in the prior year period, with basic and diluted EPS falling to $(0.43). Despite a revenue increase to $14,436,000, the company experienced a shift to operating loss and a decrease in gross profit. Furthermore, Bloomia Holdings disclosed breaches of financial covenants as of December 31, 2025, and March 31, 2026, for which it received waivers, and is currently out of compliance with its Credit Agreement due to an overdrawn revolving facility. Post-period, related party notes were converted to common stock, and a new $1,000,000 promissory note was secured.
Key Highlights
- Q3 2026 net loss attributable to Bloomia Holdings, Inc. was $(765,000) compared to income of $449,000 in Q3 2025.
- Q3 2026 basic and diluted EPS was $(0.43) versus $0.25 in Q3 2025.
- Q3 2026 revenue increased to $14,436,000 from $12,443,000 in Q3 2025.
- Company breached financial covenants as of Dec 31, 2025, and March 31, 2026, but received waivers.
- Revolving facility balance exceeded $6,000,000 limit since May 1, 2026, leading to non-compliance.
- Related party notes (2024 & 2025) converted to common stock on April 1, 2026.
- New $1,000,000 unsecured promissory note entered with Kohler on April 13, 2026.
- Made $4,900,000 payment towards $7,330,000 discounted Seller Note prepayment.