Bloomia Holdings, Inc. reported its financial results for the second quarter of fiscal year 2026, ending December 31, 2025, revealing a net revenue of $6.739 million, a 9% increase from $6.192 million in the same period last year. However, for the six months ended December 31, 2025, total revenue decreased to $11.892 million from $12.820 million in the prior year. The decline in the six-month revenue is attributed to strategic decisions to grow tulips earlier in the year to meet demand, resulting in fewer stems available for sale. The company also faced challenges due to a reduction in bulb purchases in 2024, which limited production capacity.
The company reported a gross profit of $484,000 for the three months ended December 31, 2025, compared to a gross loss of $582,000 in the same quarter of 2024. This improvement is partly due to a $300,000 grant from the U.S. federal government. However, gross profit for the six-month period fell to $424,000 from $858,000, reflecting the impact of fixed costs and reduced sales volume. Operating loss narrowed to $2.289 million for the quarter, down from $3.887 million a year earlier, while the six-month operating loss increased slightly to $5.332 million from $5.238 million.
In terms of strategic developments, Bloomia Holdings completed the acquisition of Bloomia B.V. in February 2024, which has significantly influenced its operations. The company has expanded its geographic footprint, with operations in the U.S., Netherlands, and South Africa, and has invested in automation to enhance production efficiency. As of December 31, 2025, Bloomia reported a total inventory of $17.035 million, a substantial increase from $6.697 million at the end of June 2025, reflecting the company's strategy to stock up on tulip bulbs for future sales.
The company’s financial position showed a working capital of $9.613 million as of December 31, 2025, compared to $1.089 million at the end of June 2025, primarily due to increased inventory purchases. Bloomia's total liabilities rose to $96.675 million from $83.087 million, driven by higher long-term debt levels, which increased to $40.641 million from $30.796 million. The company has also breached certain financial covenants but received waivers from its lenders, indicating a focus on maintaining compliance moving forward.
Looking ahead, Bloomia Holdings anticipates that its cash balance, combined with operational cash flow and available credit, will support its liquidity needs for at least the next twelve months. The company plans to conduct a rights offering to raise up to $15.5 million, which may further bolster its financial position. However, management acknowledges potential risks, including reliance on a limited number of customers and fluctuations in market conditions, which could impact future performance.
About LENDWAY, INC.
Lendway, Inc. is a specialty agricultural company focused on investing in and managing its agricultural assets, primarily in the U.S. and internationally. It owns a majority stake in Bloomia, a leading producer of fresh cut tulips, sourcing bulbs globally and selling stems to retailers. The company emphasizes year-round greenhouse cultivation, efficient supply chains, and sustainable practices to deliver high-quality floral products.
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