Bloomia FY26 Net Loss Widens to $11.2M on $13.2M Impairments; Debt Cut 36%
TULP is trading near its 52-week low of $3.11 (9.1% above the low) on light trading volume (0.1× avg).
Summary
Bloomia Holdings reported FY26 revenue of $48.1M, essentially flat versus $48.4M, but net loss widened to $11.2M, driven by $13.2M in non-cash impairments, including a full goodwill write-down. Adjusted EBITDA swung to a loss of $0.5M from a positive $2.0M, reflecting $2.5M in excess waste and higher bulb costs. Total debt fell 36% to $21.7M after retiring over $19M in obligations, reducing interest expense by 33% in Q4. The company has locked in FY27 bulb prices at more than 20% lower, which could support margin recovery if volumes normalize. The 10-K also discloses new credit amendment terms, including covenant waivers for breaches at Dec 31, 2025, Mar 31, 2026, and Jun 30, 2026, following a period of covenant breaches and dilutive financing noted in the last 10-Q, making the debt reduction a key positive, but the core operating loss and impairments underscore ongoing challenges.
Updated with an SEC 10-K filing · What changed
Updates
· SEC 10-K — The 10-K discloses a full goodwill write-down and new credit amendment terms, including covenant waivers for breaches at Dec 31, 2025, Mar 31, 2026, and Jun 30, 2026.
At the time of this announcement, TULP was trading at $3.39 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $16.2M. The 52-week trading range was $3.11 to $6.19. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.