SEC 8-K filings with transcript text
Sep 21, 2026
2 tulp-20260921xex99d1.htm
Exhibit 99.1
Contact:
Bloomia Holdings, Inc.
Biz McShane, CFO
(763) 392-6200
MINNEAPOLIS, MN – September 21, 2026 – Bloomia Holdings, Inc. (Nasdaq: TULP) (“Bloomia Holdings” or the “Company”) today announced its financial results for the fourth fiscal quarter and year-ended June 30, 2026.
The Company reported revenues of $48.1 million for the fiscal year ended June 30, 2026 compared to revenues of $48.4 million for the prior fiscal year. Adjusted EBITDA for the fiscal year was a loss of $0.5 million compared to an adjusted EBITDA of $2.0 million for the prior fiscal year. Due largely to a one-time $13.2 million non-cash impairment charge, primarily goodwill, taken in fourth quarter of the fiscal year, the Company reported a net loss attributable to Bloomia Holdings of $11.2 million for the fiscal year ended June 30, 2026 compared to a net loss of $2.6 million for the prior fiscal year.
The key highlight for the fiscal year ended June 30, 2026 was the Company’s restructuring of its balance sheet, retiring over $19 million of debt obligations. After giving effect to seasonal revolver borrowings and other financing activity during the year, total debt decreased $12.4 million, or 36%, to $21.7 million at June 30, 2026, from $34.1 million at June 30, 2025. Interest expense in the fourth quarter of fiscal year 2026 was $0.6 million, a decrease of 33% from $0.9 million in the fourth quarter of fiscal year 2025, reflecting the impact of a meaningfully lower debt balance.
Operationally, external factors out of the Company’s control had a material impact on results for the year. The average cost of our primary input, tulip bulbs, increased 21% year over year, and was further compounded by a 6% increase in the Euro exchange rate to purchase those bulbs. Further, in the fourth quarter of fiscal year 2026, an industry-wide challenge with mite treatment caused premature bulb aging and resulted in more than $2.5 million of excess production waste, which was concentrated in the Company's highest-demand quarter. Despite all these external challenges, revenue was essentially unchanged at $48.1 million compared to $48.4 million in the prior year. Absent the excess waste, adjusted EBITDA would have been approximately in line with the prior year, despite the dramatic increase in input costs and the increased Euro exchange rate.
Looking forward, the Company has locked in bulb prices for fiscal year 2027. These prices are back to historical averages, which is a projected savings of greater than 20% over fiscal year 2026 for one of our single largest categories of expense. Additionally, we are applying a new mite control treatment to our bulbs which is intended to address the conditions that produced the waste in the fourth quarter of fiscal year 2026.
Bloomia Holding’s Chairman and Co-Chief Executive Officer, Mark Jundt, commented, “This fiscal year reminded us that we are, first and foremost, an agricultural business. Unpredictable industry-wide growing difficulties had an outsized negative impact on our margin this year. Despite these external challenges, our underlying business demonstrated significant resilience, in no small part because of the exceptional extra effort and focus the operating team gave in responding to these difficulties and resulting unprecedented waste. Additionally, we believe that the short-term financial impact of the waste issue, while significant, will be overshadowed by our big win for the year: thanks to the support and confidence of our stockholders, the Company was able to successfully complete a capital raise that retired over $19 million of debt obligations for approximately $12 million in consideration. Bloomia exits this past fiscal year as a much stronger and more resilient company.”
Co-Chief Executive Officer Dan Philp added, “Results for fiscal year 2026 include two significant non-cash items recognized in the fourth quarter: goodwill impairment of $11.1 million and intangible asset impairment of $2.0 million, together totaling $13.2 million, as well as a $7.0 million gain on settlement of debt. These items are the principal reason reported operating and net results differ from the Company's underlying operating performance. These items did not affect cash flow or liquidity, and are excluded from adjusted EBITDA. I see many operational bright spots in the past fiscal year which we expect to reap future benefits, including continued investment in automation, operational efficiencies, and an even larger focus on waste mitigation and margin improvement. We see significant opportunities across our markets, including continuing to gain market share, further diversifying customer mix, and exploring new distribution channels. We fully intend to capitalize on these growth opportunities, and remain confident in
May 13, 2026
2 tulp-20260513xex99d1.htm
Exhibit 99.1
Contact:
Bloomia Holdings, Inc.
Biz McShane, CFO
(763) 392-6200
MINNEAPOLIS, MN – 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, or 19.8% of sales, compared to $3.9 million, or 31.3% 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, or 12.5% of sales, compared to $4.7 million, or 18.8% 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 50% discount which significantly de-levered the Company and positions the Company well for future growth. The team is excited for what’s to come.”
Q3 Fiscal Year 2026 Results
Net Revenue
Net revenue was $14.4 million in the three months ended March 31, 2026, compared to $12.4 million in the three months ended March 31, 2025. The increase is primarily due to higher prices in the current fiscal year. Stems sold were approximately 3% less than prior year due to lower Valentine’s Day sales, partially offset by the shift of Easter sales from April in the prior fiscal year to March of the current fiscal year.
Net revenue was $26.3 million in the nine months ended March 31, 2026, compared to $25.3 million in the nine months ended March 31, 2025. The increase is due to higher prices in the current fiscal year. Stems sold were approximately 10% less than prior year due to a lower Valentine’s Day sales and the Company strategically growing more tulips earlier in calendar year 2025 to meet higher demand near Mother’s Day 2025, resulting in fewer stems to sell this fiscal year. Additionally, the Company purchased fewer Dutch bulbs in 2024, so there were less stems to grow in July and August 2025. Stem sales benefited from the shift of Easter sales from April in the prior fiscal year to March of the current fiscal year.
Gross profit
Gross profit in the three months ended March 31, 2026 was $2.9 million, or 19.8% of sales, compared to gross profit of $3.9 million, or 31.3% of sales, in the three months ended March 31, 2025. The decrease is primarily due to lower stems sales in the current fiscal year of approximately 3%. The Company raised prices in the current fiscal year to partially offset the increases in bulb costs and tariffs. This decline was partially offset by a $150,000 grant received in the period.
Gross profit in the nine months ended March
Feb 13, 2026
2 tulp-20260213xex99d1.htm
Exhibit 99.1
Contact:
Bloomia Holdings, Inc.
Biz McShane, CFO
(763) 392-6200
BLOOMIA HOLDINGS, INC. ANNOUNCES DECEMBER 31, 2025 FINANCIAL RESULTS AND UPDATED EXPIRATION DATE FOR RIGHTS OFFERING
MINNEAPOLIS, MN – February 13, 2026 – Bloomia Holdings, Inc. (Nasdaq: TULP) (“Bloomia Holdings” or the “Company”) today announced its financial results for the second fiscal quarter ended December 31, 2025.
Overview
Three Months Ended December 31, 2025
●Net revenue was $6.7 million.
●Gross profit was $0.5 million, or 7.2% of sales.
●Operating loss of $2.3 million compared to an operating loss of $3.9 million in the three months ended December 31, 2024.
●Net loss from continuing operations was $2.7 million compared to a loss of $3.4 million in the three months ended December 31, 2024.
●Net loss attributable to Bloomia Holdings was $2.3 million, or loss of $1.29 per diluted share, compared to net loss of $2.9 million, or a loss of $1.66 per diluted share, in the three months ended December 31, 2024.
●EBITDA was a loss of $1.4 million compared to a loss of $2.7 million in the three months ended December 31, 2024.
Six Months Ended December 31, 2025
●Net revenue was $11.9 million.
●Gross profit was $0.4 million, or 3.6% of sales.
●Operating loss of $5.3 million compared to an operating loss of $5.2 million in the six months ended December 31, 2024.
●Net loss from continuing operations was $6.0 million compared to a loss of $4.8 million in the six months ended December 31, 2024.
●Net loss attributable to Bloomia Holdings was $5.1 million, or loss of $2.90 per diluted share, compared to net loss of $4.1 million, or a loss of $2.30 per diluted share, in the six months ended December 31, 2024.
●EBITDA was a loss of $3.8 million compared to a loss of $3.3 million in the six months ended December 31, 2024.
●Cash used in operations was $11.4 million compared to $9.0 million in the six months ended December 31, 2024.
Bloomia Holding’s Chairman and Co-Chief Executive Officer, Mark Jundt, commented, “This quarter, along with the quarter preceding it, represents and concludes our offseason. In a seasonal business like ours, our offseason is a time to increase focus on operational efficiencies and build our inventory as we prepare for the exciting busy season ahead. Our operational improvements, including further investments in automation, are a large reason why our operating results were 43% better than the prior year’s comparable quarter. I’m very proud of the hard work our team has put in for dramatically improved results like this and we will carry this momentum into our commencing busy season. We are up for the challenge.” Co-Chief Executive Officer Dan Philp added, “We are pleased with the results from the second fiscal quarter, which includes not only the significantly improved operating results that Mark mentioned, but an increase in revenue as well. I want to thank the team for driving this success. These strong earnings are another reason why we are confident in the Rights Offering we are about to commence. We believe now is a great time to be a Bloomia Holdings stockholder.”
Q2 Fiscal Year 2026 Results
Net Revenue
Net revenue was $6.7 million in the three months ended December 31, 2025, compared to $6.2 million in the three months ended December 31, 2025. The increase is primarily due to higher prices in the current fiscal year.
Net revenue was $11.9 million for the six months ended December 31, 2025, compared to $12.8 million in the six months ended December 31, 2024. The decrease in revenue is due to strategically growing tulips earlier in the calendar year to meet higher demand near Mother’s Day, resulting in fewer stems to sell at the beginning of this fiscal year. Additionally, the Company purchased fewer Dutch bulbs in 2024, so there were less stems to grow at the end of the Dutch bulb season, which is typically July and August. These decreases were partially offset by higher prices in the current fiscal year.
Gross profit (loss)
Gross profit in the three months ended December 31, 2025 was $0.5 million, or 7.2% of sales, compared to gross loss of $0.6 million, or (9.4)% of sales, in the three months ended December 31, 2024. The current year benefitted from a $300,000 grant received from the U.S. federal government. The prior fiscal year also included unusually high bulb rot.
Gross profit in the six months ended December 31, 2025 was $0.4 million, or 3.6% of sales, compared to gross profit of $0.9 million, or 6.7% of sales, in the six months ended December 31, 2024. The Company strategically accelerated the growing of stems to meet spring demand, which led to less stems available for sale in the beginning of the year to cover fixed costs such as rent, which reduced margin year-over-year. This decline was partially offset by the grant received in the period, higher prices in the fis
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