BGSF, INC.

For the period ended Sep 28, 2025. Filed Nov 7, 2025.

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.

Sep 28, 2025 · Filed Nov 7, 2025

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 Thirty-nine Week Periods Ended September 28, 2025 and September 29, 2024

2025 · 2024
Cash flows from operating activities
Net loss			$(10,270)				$(2,357)
Net income from discontinued operations		(2,890)			(3,496)
Adjustments to reconcile net loss to net cash (used in) provided by activities:
	Depreciation		86			121
	Amortization		1,325			886
	Software as a service		950			417
	Loss on sale of discontinued operations		2,892			—
	Loss on disposal of property and equipment		11			3
	Contingent consideration adjustment		(450)			—
	Amortization of debt issuance costs		1,022			129
	Interest expense on note payable		235			—
	Provision for credit losses		1,822			1,493
	Share-based compensation		850			725
	Deferred income taxes		(1,450)			1,248
Net changes in operating assets and liabilities:
		Accounts receivable		(2,236)			5,205
		Escrow receivable		(4,950)			—
		Prepaid expenses		302			1,272
		Other current assets		(516)			795
		Deposits		73			593
		Accounts payable		1,877			126
		Accrued payroll and expenses		2,642			(87)
		Accrued interest		(223)			(152)
		Income taxes receivable		323			(566)
		Transition services payable		1,474			—
		Other current liabilities		1,939			—
		Operating leases		(15)			(65)
		Other long-term liabilities		3,406			10,137
	Net cash (used in) provided by continuing operating activities		(1,771)			16,427
	Net cash provided by discontinued operating activities		227			4,751
	Net cash (used in) provided by operating activities		(1,544)			21,178
Cash flows from investing activities
Proceeds from business sold		91,528			—
Capital expenditures		(122)			(1,063)
	Net cash provided by (used in) continuing investing activities		91,406			(1,063)
	Net cash used in discontinued investing activities		(193)			(307)
	Net cash provided by (used in) investing activities		91,213			(1,370)

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

For the Thirty-nine Week Periods Ended September 28, 2025 and September 29, 2024

2025 · 2024
Cash flows from financing activities
	Net payments under line of credit		(10,220)			(17,188)
	Proceeds from issuance of long-term debt		—			4,250
	Principal payments on long-term debt		(32,725)			(850)
	Payment of convertible note		(4,368)			—
	Payments of dividends		—			(1,639)
	Issuance of ESPP shares		134			355
	Issuance of shares under the 2013 Long-Term Incentive Plan		—			262
	Contingent consideration paid		(1,289)			—
	Payments of debt issuance costs		(29)			(554)
		Net cash used in continuing financing activities		(48,497)			(15,364)
		Net cash used in discontinued financing activities		—			(4,250)
		Net cash used in financing activities		(48,497)			(19,614)
Net change in cash and cash equivalents of continuing operations		41,138			—
Cash and cash equivalents, beginning of period		32			—
Cash and cash equivalents, end of period	$41,170			$—
Supplemental cash flow information:
	Cash paid for interest, net		$3,398			$3,396
	Cash paid for taxes, net of refunds		$535			$111
Non-cash transactions:
Dividends declared		$22,400			$—

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.