BGSF INC

For the period ended Jun 30, 2024. Filed Aug 7, 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.

Jun 30, 2024 · Filed Aug 7, 2024

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

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Contents

Unaudited Consolidated Statements of Cash Flows

For the Twenty-six Week Periods Ended June 30, 2024 and July 2, 2023

2024 · 2023
Cash flows from operating activities
Net loss			$(1,553)				$(13,862)
Adjustments to reconcile net loss to net cash provided by activities:
	Depreciation		184			238
	Amortization		3,804			3,458
	Impairment losses		—			22,545
	Loss on disposal of property and equipment		9			—
	Amortization of debt issuance costs		89			92
	Interest expense on contingent consideration payable		(90)			202
	Provision for credit losses		1,116			321
	Share-based compensation		471			436
	Deferred income taxes, net of acquired deferred tax liability		(127)			(5,287)
Net changes in operating assets and liabilities, net of effects of acquisitions:
		Accounts receivable		9,230			7,672
		Prepaid expenses		93			(93)
		Other current assets		1,597			2,572
		Deposits		607			(9)
		Software as a service		358			362
		Accounts payable		160			(1,515)
		Accrued payroll and expenses		(219)			(5,033)
		Accrued interest		(218)			264
		Income taxes receivable and payable		(771)			274
		Operating leases		(23)			(88)
	Net cash provided by operating activities		14,717			12,549
Cash flows from investing activities
Businesses acquired, net of cash received		—			(6,740)
Capital expenditures		(995)			(1,490)
	Net cash used in investing activities		(995)			(8,230)

Cash flows from financing activities
	Net (payments) borrowings under line of credit		(10,808)			2,438
	Principal payments on long-term debt		(850)			(2,000)
	Payments of dividends		(1,639)			(3,244)
	Issuance of ESPP shares		244			292
	Issuance of shares under the 2013 Long-Term Incentive Plan, net of exercises		102			30
	Contingent consideration paid		—			(1,110)
	Debt issuance costs		(545)			(65)
		Net cash used in financing activities		(13,496)			(3,659)
Net change in cash and cash equivalents		226			660
Cash and cash equivalents, beginning of period		—			—
Cash and cash equivalents, end of period	$226			$660
Supplemental cash flow information:
	Cash paid for interest, net		$2,417			$2,036
	Cash paid for taxes, net of refunds		$636			$484

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.