Bloomia Reports Fiscal 2026 Results: Net Loss Widens Due to Impairment and Input Costs

Bloomia Holdings, Inc. (Nasdaq: TULP) announced its financial results for the fiscal year ended June 30, 2026, reporting a net loss of $11.2 million, or $4.43 per diluted share, compared to a net loss of $2.6 million in the prior year. The company reported total revenues of $48.1 million for the fiscal year, essentially flat compared to $48.4 million in fiscal 2025. The primary driver of the wider loss was a one-time, non-cash impairment charge of $13.2 million, consisting of $11.1 million in goodwill impairment and $2.0 million in intangible asset impairment, recorded in the fourth quarter.

Despite the financial headwinds, the company highlighted a successful balance sheet restructuring. Bloomia retired over $19 million of debt obligations through a capital raise valued at approximately $12 million. After accounting for seasonal revolver borrowings and financing activity, total debt decreased by $12.4 million, or 36%, to $21.7 million at the end of the fiscal year. This reduction in debt led to a 33% decrease in interest expense in the fourth quarter to $0.6 million.

Operational challenges significantly impacted the company's margins. The average cost of tulip bulbs increased by 21% year over year, compounded by a 6% increase in the Euro exchange rate. Additionally, an industry-wide challenge with mite treatment caused premature bulb aging, resulting in over $2.5 million of excess production waste in the fourth quarter, which was concentrated during the company's highest-demand period. Absent this waste, adjusted EBITDA would have been approximately in line with the prior year.

For the fourth quarter alone, Bloomia reported a net loss attributable to Bloomia Holdings of $5.3 million, or $1.11 per diluted share. The company noted that cash and cash equivalents totaled $1.5 million as of June 30, 2026, and working capital stood at $7.3 million. Looking ahead, management stated that bulb prices for fiscal year 2027 have been locked in at historical averages, projecting savings of greater than 20% compared to fiscal 2026, and that a new mite control treatment has been implemented to mitigate future waste.