BGSF INC

For the period ended Mar 31, 2024. Filed May 9, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 9, 2024

BGSF$4.07+3.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Unaudited Consolidated Balance Sheets

(in thousands, except share amounts)

March 31,2024 · December 31, 2023
ASSETS
Current assets
	Cash and cash equivalents		$50			$—
	Accounts receivable (net of allowance for credit losses of $761 and $554, respectively)		52,418			56,776
	Prepaid expenses		2,502			2,963
	Other current assets		6,650			7,172
		Total current assets		61,620			66,911
Property and equipment, net		1,255			1,217
Other assets
	Deposits		2,106			2,699
	Software as a service, net		4,902			5,026
	Deferred income taxes, net		7,397			7,271
	Right-of-use asset - operating leases, net		4,929			5,435
	Intangible assets, net		29,192			30,370
	Goodwill		59,151			59,588
		Total other assets		107,677			110,389
	Total assets		$170,552			$178,517
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
	Accounts payable		$224			$95
	Accrued payroll and expenses		14,879			14,902
	Line of credit (net of debt issuance costs of $128)	—			24,746
	Long-term debt, current portion (net of debt issuance costs of $31 and $0, respectively)		3,369			34,000
	Accrued interest		220			438
	Income taxes payable		325			282
	Contingent consideration, current portion		4,229			4,208
	Convertible note		4,368			4,368
	Lease liabilities, current portion		1,871			2,016
		Total current liabilities		29,485			85,055
Line of credit (net of debt issuance costs of $333)		19,667			—
Long-term debt, less current portion (net of debt issuance costs of $253)		30,347			—
Contingent consideration, less current portion		4,046			4,112
Lease liabilities, less current portion		3,454			3,814
	Total liabilities		86,999			92,981

Commitments and contingencies
Preferred stock, $0.01 par value per share, 500,000 shares authorized, -0- shares issued and outstanding		—		—
Common stock, $0.01 par value per share; 19,500,000 shares authorized 10,928,763 and 10,887,509 shares issued and outstanding, respectively, net of treasury stock, at cost, and 3,930 shares, respectively.		52		52
Additional paid in capital		68,999		68,551
Retained earnings		14,502		16,933
	Total stockholders’ equity		83,553		85,536
	Total liabilities and stockholders’ equity		$170,552		$178,517

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.