BGSF Q1 Revenue Flat at $20.9M; Net Loss Narrows to $0.13 Per Share
BGSF•BGSF reported flat Q1 revenue of $20.9 million and a net loss of $1.4 million (13 cents per share), improving from a $2.3 million loss a year earlier. Adjusted EBITDA loss narrowed to $0.5 million (3% of revenue) while completing its INSPYR transition and exiting debt-free.
1. Q1 Financial Performance
BGSF recorded Q1 revenue of $20.9 million, unchanged from the prior year’s quarter. Gross profit fell slightly to $7.41 million (35% margin) versus $7.56 million (36% margin) last year, leading to a net loss of $1.4 million, or $0.13 per diluted share, compared to a $2.3 million loss, or $0.21 per share, in Q1 2025.
2. Improved Non-GAAP Metrics
Adjusted EBITDA loss improved to $0.5 million (3% of revenue) from a $1.0 million loss (5% of revenue) in the prior year. Adjusted EPS loss narrowed to $0.06 per share versus a $0.09 loss, reflecting tighter cost control and reduced general and administrative expenses to a targeted $3.0 million run rate.
3. Operational Milestones
The company completed its Transition Services Agreement with INSPYR, becoming a fully standalone entity. It exited the quarter debt-free and achieved its G&A reduction targets, positioning the firm for focused execution of its property management staffing strategy.
4. Strategic Outlook
BGSF finished rebranding to strengthen market positioning and secured two new partnership agreements in property management. It expanded its PropTech consulting pipeline and expects full-year 2026 revenue growth in the low- to mid-single-digit range, driven by market demand for data analytics and integration services.
