BGSF, INC.

Listed Company

BGSFCIK 0001474903NYSEAcceleratedSmaller ReportingServices-Help Supply ServicesDelawareFY ends Dec 28

Period

FY 2025

Revenue

$93.31M

Net Income

$-11.43M

Total Assets

$57.84M

Equity

$48.10M

Shares Out

11.24M

Op. Cash Flow

$142.0K

Business

BGSF, INC. provides consulting, managed services and professional workforce solutions that match field talent to client partners’ workforce needs. It offers on-demand and short-term assignments, consulting and managed services, on-site management administration, permanent placement and specialized IT, finance, accounting, legal and HR staffing solutions. The company operates through two continuing segments—Property Management (office and maintenance talent) and Professional (IT and skilled professional services)—with a discontinued Light Industrial segment. It serves client partners primarily across the United States and also supplies nearshore/offshore IT talent (Colombia and India) through direct marketing, digital channels and local market offices.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues, net	93	104	125	298	239
Cost of services	60	66	75	195	158
Gross profit	33	38	50	104	81
Selling, general, and administrative expenses	41	43	45	83	65
Contingent consideration adjustment	−500,000	0	0	0	−2
Depreciation and amortization	2	1	1	4	4
Operating (loss) income	−9	−6	3	16	15
Interest expense, net	−5	−5	−6	−1	−1
Loss before income taxes from continuing operations	−13	−11	−3	15	13
Income tax benefit from continuing operations	2	2	831,000	−4	−3
Loss from continuing operations	−12	−9	−2	11	10
Income (loss)	4	7	−10	1	5
Loss on sale	−4	0	0	18	0
Income tax (expense) benefit	−597,000	−2	2	−5	−919,000
Net loss	−11	−3	−10	25	14
Net Income from continuing operations (in dollars per share)	−1.05	−0.8	−0.2	1.08	1.01
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Before Tax, Per Basic Share	0.4	0.65	−0.95	—	—
Net Income from discontinued operations: Gain on sale (in dollars per share)	−0.34	0	0	1.69	0
Net Income from discontinued operations: Income tax expense (in dollars per share)	−0.05	−0.16	0.2	−0.46	−0.09
Net income per share - basic (in dollars per share)	−1.04	−0.31	−0.95	2.43	1.36
Net Income from continuing operations (in dollars per share)	−1.05	−0.8	−0.2	1.07	1
Net Income from discontinued operations: Income (in dollars per share)	0.4	0.65	−0.95	0.12	0.44
Net Income from discontinued operations: Gain on sale (in dollars per share)	−0.34	0	0	1.69	0
Net Income from discontinued operations: Income tax expense (in dollars per share)	−0.05	−0.16	0.2	−0.46	−0.09
Net income per share - diluted (in dollars per share)	−1.04	−0.31	−0.95	2.42	1.35
Basic (in shares)	11	11	11	10	10
Diluted (in shares)	11	11	11	10	10
Cash dividends declared per common share (in dollars per share)	2	0.15	0.6	0.6	0.44

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	19	32,000	0	0	112,104
Accounts receivable (net of allowance for credit losses of $1,156 and $910, respectively)	12	17	30	66	48
Escrow receivable	5	0	—	—	—
Prepaid expenses	1	2	3	2	2
Other current assets	1	2	7	7	2
Total current assets	0	24	—	0	7
Total current assets	38	45	67	76	60
Property and equipment, net	244,000	608,000	1	2	4
Deposits	2	2	3	3	4
Software as a service, net	3	4	5	4	1
Deferred income taxes, net	9	8	7	2	5
Right-of-use asset - operating leases, net	630,000	1	5	4	4
Intangible assets, net	3	4	30	48	34
Net Carrying Value	1	1	60	55	29
Noncurrent assets of discontinued operations	0	84	—	0	7
Total other assets	19	104	110	116	84
Total assets	58	150	179	195	148
Accounts payable	503,000	80,000	95,000	587,000	401,175
Accrued payroll and expenses	4	5	15	19	16
Transition services payable	3	0	—	—	—
Long-term debt, current portion (net of debt issuance costs of $0 and $24, respectively)	0	4	34	4	4
Accrued interest	0	223,000	438,000	273,000	102,304
Income taxes payable	76,000	212,000	300,000	300,000	400,000
Note payable	449,000	0	4	1	1
Convertible note	0	4	4	4	0
Severance payable, current portion	392,000	0	—	—	—
Lease liabilities, current portion	409,000	544,000	2	2	2
Total current liabilities	0	12	—	0	1
Total current liabilities	9	26	85	28	28
Line of credit (net of debt issuance costs of $0 and $770, respectively)	0	6	0	22	13
Long-term debt, less current portion (net of debt issuance costs of $0 and $198, respectively)	0	33	0	36	23
Severance payable, less current portion	100,000	0	4	0	989,608
Lease liabilities, less current portion	298,000	698,000	4	3	3
Noncurrent liabilities of discontinued operations	0	3	—	0	190,395
Total liabilities	10	68	93	94	72
Commitments and contingencies	—	—	—	—	—
Preferred stock, $0.01 par value per share, 500,000 shares authorized, -0- shares issued and outstanding	0	0	0	0	0
Common stock, $0.01 par value per share; 19,500,000 shares authorized, 11,227,197 and 11,038,623 shares issued and outstanding, respectively	112,000	110,000	52,000	70,000	66,360
Additional paid in capital	71	70	69	67	62
(Accumulated deficit) retained earnings	−22	12	17	34	15
Treasury stock of 355,150 and 3,930 shares, respectively	−2	−57,000	—	—	—
Total stockholders equity	48	82	86	101	77
Total liabilities and stockholders equity	58	150	179	195	148

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net (income) loss from discontinued operations	−4	−5	8	−1	−5
Depreciation	100,000	200,000	200,000	600,000	700,000
Amortization	1	1	1	3	3
Loss on sale of discontinued operations	4	0	0	−18	0
Loss on disposal of property and equipment	164,000	3,000	10,000	6,000	8,000
Contingent consideration adjustment	−450,000	0	0	0	−2
Amortization of debt issuance costs	1	425,000	199,000	172,000	75,000
Interest expense on note payable	136,000	0	0	128,000	252,000
Provision for credit losses	2	2	798,000	315,000	221,000
Share-based compensation	1	908,000	957,000	1	1
Deferred income taxes	−2	378,000	−4	2	1
Accounts receivable	3	8	−815,000	−15	−15
Escrow receivable	−5	0	0	—	—
Prepaid expenses	563,000	928,000	−333,000	−866,000	−200,000
Other current assets	−346,000	794,000	3	—	—
Deposits	66,000	593,000	−27,000	2	−126,000
Software as a service	1	669,000	193,000	660,000	—
Accounts payable	423,000	−14,000	−492,000	−228,000	156,000
Accrued payroll and expenses	618,000	−2	−1	2	6
Transition services payable	3	0	0	—	—
Accrued interest	−223,000	−215,000	165,000	171,000	24,000
Income taxes payable	−80,000	103,000	−478,000	−1	−560,000
Severance payable	492,000	0	0	—	—
Other current liabilities	0	0	−1	−5	19,000
Operating leases	−82,000	−85,000	−23,000	−127,000	−107,000
Other long-term liabilities	4	14	17	−64,000	−78,000
Net cash (used in) provided by continuing operating activities	117,000	19	13	−3	1
Net cash provided by discontinued operating activities	25,000	5	7	−4	5
Net cash (used in) provided by operating activities	142,000	24	20	−7	7
Proceeds from business sold	92	0	0	31	0
Capital expenditures	−138,000	−1	−2	−6	−3
Net cash provided by (used in) continuing investing activities	91	−1	−2	−9	−7
Net cash used in discontinued investing activities	−193,000	−423,000	−7	−26,000	−34,000
Net cash provided by (used in) investing activities	91	−2	−10	−9	−7
Net payments under line of credit	−10	−18	2	10	7
Proceeds from issuance of long-term debt	0	4	0	40	0
Principal payments on long-term debt	−33	−2	−7	—	—
Payments of convertible note	−4	0	0	—	—
Issuance of ESPP shares	134,000	459,000	512,000	654,249	340,451
Issuance of shares under the 2013 Long-Term Incentive Plan	0	262,000	−10,000	−1,000	−41,000
Note payable paid	−1	0	0	−1	—
Payments of debt issuance costs	−29,000	−1	−69,000	−236,000	0
Repurchase of common stock	−2	0	0	—	—
Net cash used in continuing financing activities	−73	−18	−11	16	473,116
Net cash used in discontinued financing activities	0	−4	−102,000	0	0
Net cash used in financing activities	−73	−22	−11	16	473,000
Net change in cash and cash equivalents, continuing operations	19	353,000	0	−112,000	112,000
Cash paid for interest, net - continuing operations	3	4	5	641,000	879,000
Cash paid for taxes (federal), net of refunds - continuing operations	0	4,000	630,000	—	—
Total cash paid for taxes (state), net of refunds	505,000	685,000	1	8	4

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro