---
schema_version: "secwatch.filing_event.v1"
accession: "0001474903-24-000021"
form_type: "8-K"
ticker: "BGSF"
cik: "0001474903"
company_name: "BGSF, INC."
filed_at: "2024-03-14T23:59:59+00:00"
generated_at: "2026-06-04T19:17:30.090379+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# BGSF reports record FY2023 revenue of $313.2M; net loss from continuing ops of $10.2M due to $22.5M impairment

## Summary
- FY2023 revenue $313.2M, up 4.9%; net loss from continuing ops $10.2M ($0.95 diluted EPS) vs net income $11.3M in 2022.
- Adjusted EBITDA from continuing ops $25.1M (8.0% of revenue), up 15.9% from $21.7M in 2022.
- Q4 2023 revenue $73.6M, down from $77.3M; adjusted EBITDA $5.5M (7.5% of rev), up 27.6% from $4.3M.
- New $40M revolving credit facility closed Mar 12, 2024 with BMO, maturing 2028; $34M term loans outstanding.
- Property Mgmt revenue grew 3.3% organically; Professional revenue grew 6.1% including $14.8M from Arroyo acquisition.

## SEC filing metadata
- accession: 0001474903-24-000021
- form_type: 8-K
- ticker: BGSF
- cik: 0001474903
- company_name: BGSF, INC.
- filed_at: 2024-03-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1474903/000147490324000021/0001474903-24-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1474903/000147490324000021/bgsf-20240313.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001474903-24-000021
- JSON: https://secwatch.observer/filing/0001474903-24-000021.json
- Plain text: https://secwatch.observer/filing/0001474903-24-000021.txt

## Key facts
- Earnings Releases
  BGSF, INC. reported the fiscal year and fourth fiscal quarter ended December 31, 2023 results: revenue $313.2 million, net income Net loss from continuing operations was $10.2 million, or $0.95 per diluted share.
  - Period: the fiscal year and fourth fiscal quarter ended December 31, 2023
  - Revenue: $313.2 million
  - Net income: Net loss from continuing operations was $10.2 million, or $0.95 per diluted share
  - Result: reported results
  source text: BGSF, Inc. Reports Full Year and Fourth Quarter 2023 Financial Results Record Full Year Revenues of $313.2 million, up 4.9%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1474903/000147490324000021/0001474903-24-000021-index.htm

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