NASDAQ: TULP
BLOOMIA HOLDINGS, INC.CIK 0000875355 · SIC 0100 · Agricultural Production-Crops
As previously reported, the Company’s Board of Directors approved a change in the Company’s fiscal year end from December 31 to June 30 of each calendar year, effective June 30, 2025. The change aligns the fiscal years of the Company with the Bloomia business and reflects the seasonality of the… About this business →
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Latest financial statements
From 10-K filed Sep 21, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations
| Description | Year ended June 30, 2026 | Six months ended June 30, 2025 | Year ended December 31, 2024 |
|---|---|---|---|
| Revenue, net | 48,130,000 | 35,622,000 | 37,773,000 |
| Cost of goods sold | 40,241,000 | 26,342,000 | 31,264,000 |
| Gross profit | 7,889,000 | 9,280,000 | 6,509,000 |
| Sales, general and administrative expenses | 11,589,000 | 5,363,000 | 13,226,000 |
| Goodwill impairment | 11,122,000 | — | — |
| Intangible asset impairment | 2,043,000 | — | — |
| Operating (loss) profit | (16,865,000) | 3,917,000 | (6,717,000) |
| Foreign currency transaction loss (gain), net | 419,000 | 366,000 | (400,000) |
| Interest expense, net | 3,652,000 | 1,905,000 | 2,969,000 |
| Gain on settlement of debt | (7,005,000) | — | — |
| Other expense (income), net | 31,000 | 23,000 | (56,000) |
| (Loss) income from continuing operations before income taxes | (13,962,000) | 1,623,000 | (9,230,000) |
| Income tax benefit | (579,000) | (313,000) | (2,329,000) |
| Net (loss) income from continuing operations | (13,383,000) | 1,936,000 | (6,901,000) |
| Income from discontinued operations, net of tax | — | 33,000 | 224,000 |
| Net (loss) income including noncontrolling interest | (13,383,000) | 1,969,000 | (6,677,000) |
| Less: Net (loss) income attributable to noncontrolling interest | (2,203,000) | 473,000 | (934,000) |
| Net (loss) income attributable to Bloomia Holdings, Inc. | (11,180,000) | 1,496,000 | (5,743,000) |
| Other comprehensive (loss) income (foreign currency translation) | (341,000) | 932,000 | (11,000) |
| Less: Comprehensive (loss) income attributable to noncontrolling interest | (63,000) | 173,000 | (2,000) |
| Comprehensive (loss) income attributable to Bloomia Holdings, Inc. | (11,458,000) | 2,255,000 | (5,752,000) |
| Net (loss) income per basic share attributable to Bloomia Holdings, Inc.: | |||
| Continuing operations | (4.43) | 0.83 | (3.37) |
| Discontinued operations | — | 0.02 | 0.13 |
| Basic earnings per share | (4.43) | 0.85 | (3.24) |
| Net (loss) income per diluted share attributable to Bloomia Holdings, Inc.: | |||
| Continuing operations | (4.43) | 0.81 | (3.37) |
| Discontinued operations | — | 0.02 | 0.13 |
| Diluted earnings per share | (4.43) | 0.82 | (3.24) |
| Weighted average shares used in calculation of net (loss) income per share: | |||
| Basic | 2,521,000 | 1,770,000 | 1,770,000 |
| Diluted | 2,521,000 | 1,814,000 | 1,770,000 |
Consolidated Balance Sheets
| Description | As of June 30 2026 | As of June 30 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 1,452,000 | 906,000 |
| Accounts receivable net of allowances for credit losses of $108,000 and $122,000, respectively | 5,791,000 | 5,124,000 |
| Inventories | 5,331,000 | 6,697,000 |
| Prepaid expenses and other current assets | 5,330,000 | 2,122,000 |
| Total current assets | 17,904,000 | 14,849,000 |
| Noncurrent assets | ||
| Property and equipment, net | 10,087,000 | 11,433,000 |
| Equity-method investment | 192,000 | 216,000 |
| Goodwill | — | 11,128,000 |
| Intangible assets, net | 21,238,000 | 24,806,000 |
| Operating lease right-of-use assets | 32,699,000 | 34,128,000 |
| Finance lease right-of-use assets | 1,934,000 | 310,000 |
| Long-term receivable | 120,000 | 240,000 |
| Other assets | 257,000 | 814,000 |
| Total noncurrent assets | 66,527,000 | 83,075,000 |
| Total assets | 84,431,000 | 97,924,000 |
| Liabilities and Stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | 2,709,000 | 1,748,000 |
| Accrued compensation | 479,000 | 385,000 |
| Accrued expenses and other current liabilities | 3,740,000 | 4,934,000 |
| Current portion of operating lease liabilities | 1,407,000 | 1,193,000 |
| Current portion of finance lease liabilities | 388,000 | 71,000 |
| Current portion of debt | 1,870,000 | 1,870,000 |
| Related party note payable | — | 3,559,000 |
| Total current liabilities | 10,593,000 | 13,760,000 |
| Long-term liabilities: | ||
| Operating lease liabilities, net of current portion | 32,509,000 | 33,709,000 |
| Finance lease liabilities, net of current portion | 1,667,000 | 254,000 |
| Long-term debt, net | 18,807,000 | 28,354,000 |
| Related party notes payable | 1,025,000 | — |
| Deferred tax liabilities, net | 6,040,000 | 7,010,000 |
| Total long-term liabilities | 60,048,000 | 69,327,000 |
| Commitments and contingencies (Note 15) | ||
| Stockholders’ equity | ||
| Common stock, par value $0.01: | ||
| Authorized shares - 10,000,000 at June 30, 2026 and 5,714,000 at June 30, 2025 | ||
| Issued and outstanding shares 4,831,000 at June 30, 2026 and 1,770,000 at June 30, 2025 | 48,000 | 17,000 |
| Additional paid-in capital | 28,880,000 | 16,278,000 |
| Accumulated other comprehensive income | 472,000 | 750,000 |
| Accumulated deficit | (16,088,000) | (4,908,000) |
| Total stockholders’ equity attributable to Bloomia Holdings, Inc. | 13,312,000 | 12,137,000 |
| Equity from noncontrolling interest | 478,000 | 2,700,000 |
| Total Stockholders’ equity | 13,790,000 | 14,837,000 |
| Total Liabilities and Stockholders’ equity | 84,431,000 | 97,924,000 |
Consolidated Statements of Cash Flows
| Description | Year ended June 30, 2026 | Six months ended June 30, 2025 | Year ended December 31, 2024 |
|---|---|---|---|
| Operating Activities | |||
| Net (loss) income including noncontrolling interest | (13,383,000) | 1,969,000 | (6,677,000) |
| Adjustments to reconcile net (loss) income including noncontrolling interest to net cash (used in) provided by operating activities: | |||
| Depreciation and amortization | 3,629,000 | 1,683,000 | 2,641,000 |
| Amortization of deferred financing costs | 103,000 | 53,000 | 95,000 |
| Gain on settlement of debt | (7,005,000) | — | — |
| Goodwill impairment | 11,122,000 | — | — |
| Intangible asset impairment | 2,043,000 | — | — |
| Provision for credit loss | 40,000 | 24,000 | 108,000 |
| Provision for inventory | 562,000 | — | — |
| Stock-based compensation expense | 45,000 | 42,000 | 60,000 |
| Non-cash paid in-kind interest expense | 1,683,000 | 874,000 | 1,400,000 |
| Non-cash operating lease expense | 450,000 | 241,000 | 1,278,000 |
| Deferred income taxes | (970,000) | (632,000) | (3,080,000) |
| Equity method investment loss (income) | 17,000 | — | (37,000) |
| Other non-cash items | — | (145,000) | 84,000 |
| Increase (decrease) in cash resulting from changes in: | |||
| Accounts receivable, net | (707,000) | (2,905,000) | 1,079,000 |
| Inventories | 804,000 | 6,306,000 | (877,000) |
| Prepaid expenses and other current and noncurrent assets | (2,676,000) | (1,363,000) | 325,000 |
| Accounts payable | 1,073,000 | (1,372,000) | 1,257,000 |
| Accrued compensation | 93,000 | (105,000) | (1,980,000) |
| Accrued expenses and other current liabilities | (904,000) | 3,332,000 | 204,000 |
| Net cash (used in) provided by operating activities of continuing operations | (3,981,000) | 8,002,000 | (4,120,000) |
| Net cash provided by operating activities of discontinued operations | — | — | 68,000 |
| Net cash (used in) provided by operating activities | (3,981,000) | 8,002,000 | (4,052,000) |
| Investing Activities | |||
| Purchases of property and equipment | (433,000) | (279,000) | (1,170,000) |
| Acquisition of Bloomia, net of cash acquired | — | — | (34,178,000) |
| Receipts of escrow receivable | — | — | 200,000 |
| Net cash used in investing activities | (433,000) | (279,000) | (35,148,000) |
| Financing Activities | |||
| Proceeds from term loan | — | — | 18,000,000 |
| Proceeds from revolving debt | 10,315,000 | — | 13,026,000 |
| Proceeds from related party note | 5,350,000 | 250,000 | 3,500,000 |
| Repayments of seller note | (5,846,000) | — | (2,700,000) |
| Repayments of term loan | (1,800,000) | (900,000) | — |
| Repayments of related party note | (1,200,000) | (400,000) | — |
| Repayments of revolving debt | (6,319,000) | (7,961,000) | (5,065,000) |
| Repayments of long-term debt | (69,000) | (33,000) | (1,350,000) |
| Principal payments on finance lease liabilities | (120,000) | (39,000) | (16,000) |
| Payment of financing costs | — | — | (513,000) |
| Proceeds from issuances of common stock | 5,022,000 | — | — |
| Net cash provided by (used in) financing activities | 5,333,000 | (9,083,000) | 24,882,000 |
| Effect of exchange rate changes on cash | (373,000) | 507,000 | — |
| Net increase (decrease) in cash and cash equivalents | 546,000 | (853,000) | (14,318,000) |
| Cash and cash equivalents, beginning of period | 906,000 | 1,759,000 | 16,077,000 |
| Cash and cash equivalents, end of period | 1,452,000 | 906,000 | 1,759,000 |
| Supplemental cash flow information | |||
| Cash paid for interest | 1,878,000 | 904,000 | 1,626,000 |
| Cash paid for income taxes, net of tax refunds | 466,000 | 191,000 | 694,000 |
| Non-cash investing and financing activities | |||
| Non-cash purchase consideration Equity issuance of noncontrolling interest | — | — | 2,990,000 |
| Non-cash purchase consideration Seller notes | — | — | 15,451,000 |
| Purchase of property and equipment included in accounts payable | 8,000 | 57,000 | — |
| Capitalized software included in accounts payable | — | 43,000 | — |
| Purchase of property and equipment included in debt | 61,000 | — | 150,000 |
| Debt extinguished through non-cash equity transactions | 7,609,000 | — | — |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About BLOOMIA HOLDINGS, INC.
Source: Item 1 (Business) from the 10-K filed September 21, 2026. Description as filed by the company with the SEC.
Item 1. Business
Year-End
As previously reported, the Company’s Board of Directors approved a change in the Company’s fiscal year end from December 31 to June 30 of each calendar year, effective June 30, 2025. The change aligns the fiscal years of the Company with the Bloomia business and reflects the seasonality of the Bloomia business. In this Annual Report on Form 10-K, the twelve-month period ended June 30, 2026 is referred to as “Year Ended June 30, 2026”, the six-month transition period from January 1, 2025 to June 30, 2025 is referred to as “Six Months Ended June 30, 2025”, and the twelve-month period ended December 31, 2024 is referred to as “Year Ended December 31, 2024.”
Name Change
On January 28, 2026, the Company changed its name to Bloomia Holdings, Inc. by filing an amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware. As a result of the name change, effective February 2, 2026, the Company’s common stock, par value $0.01 per share, ceased trading on the Nasdaq Capital Market under the name Lendway, Inc. and under the ticker symbol “LDWY” and began trading on the Nasdaq Capital Market under the name Bloomia Holdings, Inc. and under new ticker symbol “TULP”. The CUSIP of our common stock did not change in connection with the name change or the ticker symbol change.
General
This Annual Report on Form 10-K is being filed by the registrant, Bloomia Holdings, Inc. (“Bloomia Holdings,” “we,” “us,” “our” and the “Company”), a Delaware corporation. The Company was initially organized as a Minnesota corporation in 1990. On August 4, 2023, the Company converted from a Minnesota corporation to a Delaware corporation. Our common stock trades under the symbol “TULP” on The Nasdaq Stock Market LLC.
Read full description ↓
The Company has evolved into a specialty agricultural (“ag”) company focused on making and managing its ag investments in the United States (“U.S.”) and internationally. The Company is the majority owner of Fresh Tulips USA LLC, Bloomia B.V., and its affiliated entities, collectively referred to as “Bloomia.” Bloomia is a significant producer of fresh cut tulips (“stems”) in the U.S.
On February 22, 2024, the Company acquired Bloomia for a purchase price of $47.5 million, financed with Company cash, a new credit facility, promissory notes payable to the sellers and issuing an equity interest in the new company (the “Acquisition”). Bloomia is one of the largest producers of fresh cut tulips in the United States, nurturing over 90 million stems annually. Bloomia purchases tulip bulbs, hydroponically grows tulips from the bulbs, and sells the stems to retail stores.
The purchase of Bloomia was financed, partially with funds from the sale of the Company’s legacy business of providing in-store advertising solutions (the “In-Store Marketing Business”) for a price of $3,500,000. The operations of the In-Store Marketing Business are presented as discontinued operations in the Six Months Ended June 30, 2025 and Year Ended December 31, 2024. See Note 5 to the consolidated financial statements appearing in