secwatch.observer — SEC 8-K summary
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Issuer:     BGSF, INC. (BGSF)
CIK:        0001474903
Form:       8-K
Filed at:   2024-03-14T23:59:59+00:00
Accession:  0001474903-24-000021
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1474903/000147490324000021/0001474903-24-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1474903/000147490324000021/bgsf-20240313.htm
  HTML page:      https://secwatch.observer/filing/0001474903-24-000021

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