BGSF — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• Loss before income taxes from continuing operations(1,557)(2,918)

• Loss before income taxes from continuing operations(7.5)(13.9)

• Thirteen Week Fiscal Period Ended March 29, 2026 (“Fiscal 2026”) Compared with Thirteen Week Fiscal Period Ended March 30, 2025 (“Fiscal 2025”)

• Revenues: Revenues were relatively unchanged compared to the prior year quarter end.

• Gross Profit: Gross profit decreased approximately $0.2 million (2.0%), which is in line with revenues with a partial offset by higher permanent placement business that have no cost of service.

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• Income tax (expense) benefit from continuing operations(571)413 1,461 1,402

• Selling, general, and administrative expenses38.0 38.1 44.6 40.4

• Loss from continuing operations before income taxes(9.3)(7.4)(16.4)(9.1)

• Thirteen Week Fiscal Period Ended September 28, 2025 (“Fiscal 2025”) Compared with Thirteen Week Fiscal Period Ended September 29, 2024 (“Fiscal 2024”)

• Revenues: Revenues decreased approximately $2.9 million (9.8%). The decrease was primarily due to a 12.0% reduction in billed hours, which was driven by a combination of lower demand from cost pressures on property owners and property management companies and increased competition in certain markets…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• As previously reported, management had identified a deficiency in our internal control over financial reporting related to the verification of customer-approved time prior to billing within certain revenue streams of the Company’s Professional segment presented as discontinued operations and sold du…

• As described below, management believes this material weakness has been effectively remediated. Remediation efforts included enhancements to and formalization of control procedures; however, the Company notes that its overall control framework over revenue recognition for continuing operations was e…

• Since identifying the material weakness related to our internal control over financial reporting, which was related to verification of customer-approved time prior to billing within certain revenue streams of the Company’s Professional segment, we have taken steps to strengthen the control function …

• For the fiscal quarter ended March 29, 2026, there have been no changes in our internal control over financial reporting for continuing operations identified in connection with the evaluations required by Rule 13a-15(d) or Rule 15d-15(d) under the Exchange Act that have materially affected, or are r…

• Our management, including our Co-CEO's and our CFO, do not expect that our disclosure controls or our internal control over financial reporting will prevent or detect all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assu…

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• For the fiscal quarter ended September 28, 2025, there have been no changes in our internal control over financial reporting identified in connection with the evaluations required by Rule 13a-15(d) or Rule 15d-15(d) under the Exchange Act that have materially affected, or are reasonably likely to ma…

• Our management, including our CEO and our CFO, do not expect that our disclosure controls or our internal control over financial reporting will prevent or detect all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance…

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• The Sale and the other transactions contemplated by the Equity Purchase Agreement may adversely affect the retained business.

• Our ability to execute on our business strategies for the retained business depends on the retention and recruitment of qualified executives and other professionals. We rely upon the services of our current executive and senior management teams. The market for qualified executives, senior managers a…

• Because BGSF has fewer revenues and assets following the Sale, there is a possibility that such reduced revenues and assets may affect our ability to satisfy NYSE’s continued listing standards, which could result in the delisting of our common stock.

• The continued listing standards of NYSE include, among other things, requirements that we maintain certain levels of stockholders’ equity, total assets, total revenue, market capitalization and/or minimum trading price. Even though we currently satisfy these requirements, following the Sale, our bus…