---
schema_version: "secwatch.filing_event.v1"
accession: "0001474903-23-000066"
form_type: "8-K"
ticker: "BGSF"
cik: "0001474903"
company_name: "BGSF, INC."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T03:58:21.143959+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BGSF Q1 2023 revenue up 9.9% to $75.3M, net loss $(16.5)M on $22.5M impairment charge

## Summary
- Revenues $75.3M (+9.9% YoY); gross profit $26.8M (+14.3%); gross margin 35.6% (+140 bps).
- Net loss from continuing ops $(16.5)M ($1.54 diluted EPS) includes $22.5M non-cash impairment of trade names.
- Adjusted EBITDA $4.3M (up from $3.9M); adjusted EPS $0.16 (vs $0.23 in 2022), impacted by Horn acquisition debt and higher rates.
- Company cites Horn Solutions acquisition driving Professional segment growth; recently acquired Arroyo Consulting for nearshore/offshore IT.
- Rebranding to single BGSF name underway; management cautiously optimistic despite uncertain economy.

## SEC filing metadata
- accession: 0001474903-23-000066
- form_type: 8-K
- ticker: BGSF
- cik: 0001474903
- company_name: BGSF, INC.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1474903/000147490323000066/0001474903-23-000066-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1474903/000147490323000066/bgsf-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001474903-23-000066
- JSON: https://secwatch.observer/filing/0001474903-23-000066.json
- Plain text: https://secwatch.observer/filing/0001474903-23-000066.txt

## Key facts
- Earnings Releases
  BGSF, INC. reported first quarter ended April 2, 2023 results: revenue $75.3 million, net income $(16.5) million, EPS $(1.54) per diluted share.
  - Period: first quarter ended April 2, 2023
  - Revenue: $75.3 million
  - Net income: $(16.5) million
  - EPS: $(1.54) per diluted share
  - Result: reported results
  source text: services, and workforce solutions, today reported financial results for its first quarter ended April 2, 2023. Q1 2023 Highlights from Continuing Operations: • Revenues were $75.3 million, up 9.9% from 2022. • Gross profit was $26.8 million, up 14.3% from 2022. Gross profit percent increased 140 basis points to 35.6% in 2023. • Operating income (loss) includes a
  evidence_url: https://www.sec.gov/Archives/edgar/data/1474903/000147490323000066/0001474903-23-000066-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.