Bloomia Holdings Reports $14.4 Million Revenue with Increased Net Loss in Latest Quarter

Bloomia Holdings, Inc. reported a net revenue of $14.4 million for the three months ended March 31, 2026, marking a 16% increase from $12.4 million in the same period last year. For the nine months ending March 31, 2026, revenue rose to $26.3 million from $25.3 million year-over-year. However, the company experienced a net loss attributable to Bloomia Holdings of $765,000 for the latest quarter, a decline from a profit of $449,000 in the prior year. The nine-month net loss also widened to $5.9 million compared to a loss of $3.6 million in the previous year, primarily due to increased costs associated with bulb procurement and tariffs.

The company’s cost of goods sold increased significantly, rising to $11.6 million for the three months ended March 31, 2026, compared to $8.6 million in the same quarter of 2025. This increase was attributed to higher bulb prices and tariffs, which impacted gross profit margins, dropping to 19.8% from 31.3% year-over-year. Sales, general, and administrative expenses also rose to $2.9 million for the latest quarter, up from $2.5 million, reflecting costs related to a recent rights offering and increased corporate expenses.

In terms of operational developments, Bloomia Holdings completed a significant acquisition of Bloomia B.V. in February 2024, which has since become the primary focus of its operations. The company has expanded its geographic footprint, operating in the U.S., Netherlands, and South Africa, and has established a 30% interest in a greenhouse tulip business in Chile. The acquisition has positioned Bloomia as a leader in the fresh-cut tulip market in the U.S., with a production capacity of over 90 million tulip stems annually.

As of March 31, 2026, Bloomia reported total assets of $103.3 million, an increase from $97.9 million at the end of the previous fiscal year. The company’s working capital improved to $4.8 million, up from $1.1 million, largely due to strategic purchases of Dutch tulip bulbs. However, the company remains in breach of certain financial covenants related to its credit agreements, although it has received waivers from its lenders. Looking ahead, Bloomia Holdings anticipates that cash generated from operations, combined with available credit, will support its liquidity needs for at least the next twelve months, despite the challenges posed by rising costs and market conditions.