Bloomia reports $11.2M loss on $48.1M revenue after tulip shift

Bloomia Holdings, formerly Lendway, has shifted its focus to specialty fresh-cut tulip agriculture after acquiring Bloomia operations in February 2024, discontinuing its lending and in-store marketing businesses, changing its name and ticker, and moving its fiscal year-end to June 30. For fiscal 2026, the company reported approximately $48.1 million in revenue and an $11.2 million net loss, or $4.43 per diluted share, with results affected by a $13.2 million noncash impairment charge. Profitability also came under pressure from a 21% increase in bulb costs, unfavorable foreign-exchange movements and more than $2.5 million in excess crop waste linked to an industry-wide mite issue during the crucial spring selling season. Bloomia raised prices by about 12%, is implementing new mite-control measures and automation, and expects lower contracted bulb costs to support margins in fiscal 2027. Its balance sheet improved through a rights offering that generated $12.1 million in gross proceeds, converted about $7.1 million of debt and helped repay more than $19 million in obligations, reducing total debt to $21.7 million.