Bloomia Holdings Reports $48.1 Million Revenue with Net Loss of $11.2 Million for Fiscal Year Ending June 30, 2026

Bloomia Holdings, Inc. reported a net revenue of $48.1 million for the fiscal year ending June 30, 2026, a slight decrease of 1% from $48.4 million in the previous year. The decline in revenue was primarily attributed to lower stem sales, particularly in the fourth quarter, which was partially offset by a 12% increase in prices. The company's gross profit also fell to $7.9 million, representing 16.4% of revenue, down from 20.9% the previous year, largely due to increased costs of goods sold and significant waste during the spring growing season.

The company experienced substantial operational changes, including the acquisition of Bloomia B.V. on February 22, 2024, for $47.5 million, which was financed through a combination of cash, credit facilities, and promissory notes. This acquisition has positioned Bloomia as a leading producer of fresh cut tulips in the U.S., nurturing over 90 million stems annually. Following the acquisition, Bloomia Holdings has focused solely on its agricultural business, discontinuing its non-bank lending operations due to strategic realignment after the resignation of its CEO in June 2024.

Bloomia's customer base has expanded, with approximately 40 customers in the U.S. during the fiscal year, four of whom accounted for 59% of total revenue. The company has also made significant investments in automation to enhance production efficiency at its U.S. greenhouse. However, it faced challenges with excess waste in the spring 2026 growing season, leading to an estimated $2.5 million in lost revenue. The company has since invested in new mite control treatments to mitigate future waste.

As of June 30, 2026, Bloomia Holdings had approximately 105 employees, with a seasonal increase in headcount during peak sales periods. The company reported a net loss of $11.2 million for the year, compared to a loss of $2.6 million in the previous year, largely due to goodwill and intangible asset impairments totaling $13.2 million. Looking ahead, Bloomia anticipates improved margins in fiscal year 2027, as it has contracted bulb prices closer to previous rates, and expects to leverage its operational efficiencies to enhance profitability.

The company has also undergone a name change, transitioning from Lendway, Inc. to Bloomia Holdings, Inc., effective February 2, 2026, and its common stock now trades under the ticker symbol "TULP" on the Nasdaq Capital Market. Bloomia Holdings is focused on maintaining liquidity and has made strategic amendments to its credit agreements to ensure compliance with financial covenants, which will be crucial for its ongoing operations and growth initiatives.