A Business at a Glance
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BLOOMIA HOLDINGS, INC.
LDWY
$8M
Mkt Cap
BLOOMIA HOLDINGS, INC. (LDWY) has a 5-year average return on invested capital (ROIC) of -14.1%. This is below average and may indicate limited pricing power.
BLOOMIA HOLDINGS, INC. (LDWY) has a market capitalization of $7M. It is classified as a small-cap stock.
BLOOMIA HOLDINGS, INC. (LDWY) does not currently pay a regular dividend.
BLOOMIA HOLDINGS, INC. (LDWY) operates in the Agricultural Production-Crops industry, within the Consumer Defensive sector.
BLOOMIA HOLDINGS, INC. (LDWY) reported annual revenue of $38 million in its most recent fiscal year, based on SEC EDGAR filings.
BLOOMIA HOLDINGS, INC. (LDWY) has a net profit margin of -15.2%. The company is currently unprofitable.
BLOOMIA HOLDINGS, INC. (LDWY) generated $-5 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Item 1. Business This Annual Report on Form 10-K is being filed by the registrant, Lendway, Inc. (“Lendway,” “we,” “us,” “our” and the “Company”), a Delaware corporation. Effective August 4, 2023, we changed our name from “Insignia Systems, Inc.” which was incorporated in Minnesota in 1990 and reincorporated from Minnesota to Delaware. As part of the name change, our common stock now trades under the symbol “LDWY” on The Nasdaq Stock Market LLC. The Company has evolved into a specialty agricultural (“ag”) company focused on making and managing its ag investments in the United States (“U.S.”) and internationally. The Company is the majority owner of Fresh Tulips USA LLC, Bloomia B.V., and its affiliated entities, representing a significant producer of fresh cut tulips (“stems”) in the U.S. On February 22, 2024, the Company acquired Bloomia B.V., the parent of Fresh Tulips USA LLC, for a purchase price of $47.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 38M | 21M | 19M | 20M | 17M |
| Net Income | 0 | -5.7M | 2.4M | 10M | -3.5M | -4.6M |
| EPS | $0.00 | $-3.24 | $1.36 | $5.59 | $-2.01 | $-18.62 |
| Free Cash Flow | 0 | -5.2M | 479K | 11M | -3.1M | -1.6M |
| ROIC | 0.0% | -17.9% | 15.2% | -18.2% | -35.5% | -643.6% |
| Gross Margin | - | 17.2% | 23.7% | 17.6% | 16.6% | 16.3% |
| Debt/Equity | 5.73 | 4.10 | 0.02 | 0.56 | 0.00 | 0.16 |
| Dividends/Share | $0.00 | - | - | - | - | $0.06 |
| Operating Income | 0 | -6.7M | -3.5M | -2.4M | -4.8M | -4.8M |
| Operating Margin | 0.0% | -17.8% | -16.7% | -13.0% | -24.6% | -27.7% |
| ROE | 0.0% | -45.3% | 16.7% | 121.1% | -71.7% | -52.0% |
| Shares Outstanding | 2M | 2M | 2M | 2M | 2M | 0M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 26M | 24M | 26M | 23M | 26M | 33M | 22M | 17M | 20M | 19M | 21M | 38M | 0 |
| Gross Margin | 48.8% | 48.1% | 48.0% | 30.5% | 31.8% | 37.8% | 20.1% | 16.3% | 16.6% | 17.6% | 23.7% | 17.2% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 4.0M | 4.0M | 4.1M | 4.1M | 4.1M | 4.6M | 3.4M | 4.0M | 5.1M | 2.4M | 3.5M | 13M | 13M |
| EBIT | 2.4M | 467K | 2.5M | -2.1M | -908K | 1.8M | -6.1M | -4.8M | -4.8M | -2.4M | -3.5M | -6.7M | 0 |
| Op. Margin | 9.2% | 1.9% | 9.3% | -9.0% | -3.4% | 5.5% | -28.4% | -27.7% | -24.6% | -13.0% | -16.7% | -17.8% | 0.0% |
| Net Income | 1.4M | 211K | 1.5M | -1.3M | -639K | 1.4M | -5.6M | -4.6M | -3.5M | 10M | 2.4M | -5.7M | 0 |
| Net Margin | 5.3% | 0.9% | 5.8% | -5.6% | -2.4% | 4.2% | -25.9% | -26.4% | -18.1% | 53.4% | 11.5% | -15.2% | 0.0% |
| Non-Recurring | 12K | 3K | 30K | 243K | 0 | 35K | 2.0M | 194K | 195K | 0 | 3.0M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 5.2% | 2.5% | 22.2% | -6.5% | -4.3% | 8.3% | -40.7% | N/M | -35.5% | -18.2% | 15.2% | -17.9% | 0.0% |
| ROE | 5.2% | 0.8% | 6.2% | -6.5% | -4.3% | 9.0% | -40.7% | -52.0% | -71.7% | 121.1% | 16.7% | -45.3% | 0.0% |
| ROA | 4.4% | 0.7% | 4.9% | -4.3% | -2.6% | 6.1% | -27.2% | -29.5% | -28.3% | 63.5% | 12.8% | -9.8% | 0.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 4.0M | -1.6M | 3.2M | -4.0M | 1.8M | 7.1M | -2.3M | -1.6M | -3.0M | 11M | 518K | -4.1M | 0 |
| Free Cash Flow | 3.7M | -2.1M | 2.8M | -5.5M | 621K | 5.8M | -2.7M | -1.6M | -3.1M | 11M | 479K | -5.2M | 0 |
| Owner Earnings | 2.4M | -3.2M | 1.7M | -5.6M | 45K | 5.5M | -4.4M | -2.2M | -3.3M | 10M | 467K | -6.8M | -2.7M |
| CapEx | 265K | 427K | 444K | 1.5M | 1.2M | 1.3M | 398K | 61K | 106K | 0 | 39K | 1.2M | 0 |
| Maint. CapEx | 1.1M | 1.2M | 1.2M | 1.4M | 1.3M | 1.2M | 1.6M | 477K | 60K | 59K | 7K | 2.6M | 2.6M |
| Growth CapEx | 0 | 0 | 0 | 17K | 0 | 170K | 0 | 0 | 46K | N/A | 32K | 0 | 0 |
| D&A | 1.1M | 1.2M | 1.2M | 1.4M | 1.3M | 1.2M | 1.6M | 477K | 60K | 59K | 7K | 2.6M | 2.6M |
| CapEx/OCF | 6.7% | N/A | 13.8% | N/A | 65.1% | 18.8% | N/A | N/A | N/A | N/A | 7.5% | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 8.2M | 14K | 14K | 14K | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | 59.6% | 0.1% | 0.5% | 0.9% | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 2.3M | 2.4M | 1.8M | 312K | 0 | 298K | 0 | 1K | 200K | 0 | 482K | 0 | 0 |
| Buyback Yield | 2.0% | 2.0% | 1.4% | 0.3% | N/A | 0.2% | N/A | 0.0% | N/A | N/A | 3.5% | N/A | 0.0% |
| Stock-Based Comp | 533K | 403K | 353K | 204K | 387K | 410K | 422K | 172K | 232K | 123K | 44K | 60K | 60K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 343K | 1.4M | 1.4M |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | -17M | -18M | -12M | N/A | N/A | -7.5M | -6.1M | -3.9M | N/A | -16M | 39M | 40M |
| Cash & Equiv. | 22M | 7.2M | 8.5M | 12M | 4.7M | 10M | 7.5M | 7.1M | 3.9M | 15M | 16M | 1.8M | 1.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 590K | 0 | N/A | 343K | 39M | 40M |
| Debt/Equity | 0.21 | 0.00 | 0.00 | 0.00 | 0.46 | 0.47 | 0.00 | 0.16 | 0.00 | 0.56 | 0.02 | 4.10 | 5.73 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -151.2 | -133.1 | N/A | N/A | -3358.5 | -3358.5 |
| Equity | 26M | 25M | 25M | 15M | 15M | 16M | 11M | 6.7M | 3.2M | 13M | 16M | 9.8M | 7.1M |
| Total Assets | 32M | 30M | 32M | 28M | 22M | 24M | 17M | 14M | 11M | 21M | 17M | 100M | 106M |
| Total Liabilities | 5.4M | 5.9M | 7.0M | 13M | 6.8M | 7.6M | 5.9M | 7.6M | 7.5M | 7.6M | 1.1M | 19M | 314K |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | 317K | 0 | N/A | N/A | N/A | 26M | 24M |
| Retained Earnings | 5.1M | 5.3M | 6.8M | 0 | -639K | 760K | -5.0M | -9.6M | -13M | -3.1M | -661K | -6.4M | -10M |
| Working Capital | 22M | 21M | 21M | 12M | 12M | 13M | 11M | 7.7M | 3.7M | 13M | 16M | 11M | 9.6M |
| Current Assets | 27M | 26M | 27M | 24M | 18M | 20M | 16M | 14M | 10M | 21M | 17M | 19M | 24M |
| Current Liabilities | 4.7M | 5.3M | 6.0M | 12M | 5.8M | 6.4M | 5.2M | 6.4M | 6.6M | 7.4M | 1.1M | 7.8M | 14M |
| Per Share Data | |||||||||||||
| EPS | 0.70 | 0.14 | 0.91 | -0.77 | -0.42 | 0.84 | -22.89 | -18.62 | -2.01 | 5.59 | 1.36 | -3.24 | 0.00 |
| Owner EPS | 1.21 | -2.14 | 1.01 | -3.38 | 0.03 | 3.32 | -17.98 | -8.99 | -1.87 | 5.83 | 0.26 | -3.81 | -1.53 |
| Book Value | 13.28 | 16.30 | 14.66 | 9.05 | 9.75 | 9.80 | 45.49 | 26.90 | 1.82 | 7.46 | 8.75 | 5.55 | 4.02 |
| Cash Flow/Share | 2.02 | -1.09 | 1.91 | -2.39 | 1.17 | 4.27 | -9.49 | -6.37 | -1.71 | 5.93 | 0.29 | -2.29 | 1.49 |
| Dividends/Share | N/A | N/A | 0.00 | 4.90 | 5.37 | 0.01 | 0.06 | 0.06 | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 2.0M | 1.5M | 1.7M | 1.7M | 1.5M | 1.7M | 0.2M | 0.2M | 1.8M | 1.8M | 1.8M | 1.8M | 1.8M |
| Valuation | |||||||||||||
| P/E Ratio | 83.0 | 579.8 | 79.9 | N/A | N/A | 97.4 | N/A | N/A | N/A | 1.4 | 5.7 | N/A | N/A |
| P/FCF | 4.4 | N/A | 6.3 | N/A | 17.0 | 3.4 | N/A | N/A | N/A | 1.3 | 28.8 | N/A | N/A |
| EV/EBIT | N/A | 225.7 | 42.4 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 4.4 | 5.0 | 5.0 | 6.5 | 5.0 | 8.4 | 1.2 | 1.4 | 4.6 | 1.0 | 0.9 | 0.9 | 1.0 |
| Price/Sales | 3.7 | 4.6 | 5.2 | 5.1 | 3.6 | 3.4 | 0.9 | 0.6 | 53.7 | 0.9 | 0.7 | 0.3 | N/A |
| FCF Yield | 3.2% | -1.7% | 2.3% | -5.6% | 0.8% | 4.2% | -19.9% | -17.1% | -21.1% | 77.6% | 3.5% | -62.0% | N/A |
| Market Cap | 114M | 122M | 123M | 97M | 74M | 136M | 14M | 9.6M | 15M | 14M | 14M | 8.4M | 7.1M |
| Avg. Price | 7.06 | 10.63 | 11.67 | 10.10 | 9.01 | 9.71 | 10.75 | 5.98 | 6.36 | 9.72 | 7.83 | 5.54 | 4.03 |
| Year-End Price | 8.30 | 11.60 | 10.38 | 8.34 | 6.93 | 11.69 | 7.98 | 5.53 | 8.25 | 7.65 | 7.77 | 4.75 | 4.03 |
BLOOMIA HOLDINGS, INC. passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 18.3%. At current prices, the estimated annualized return to fair value is +85.2%.
BLOOMIA HOLDINGS, INC. (LDWY) has a debt-to-equity ratio of 4.10. This indicates higher leverage, which may increase financial risk.
BLOOMIA HOLDINGS, INC. (LDWY) reported earnings per share (EPS) of $-3.24 in its most recent fiscal year.
BLOOMIA HOLDINGS, INC. (LDWY) has a return on equity (ROE) of -45.3%. A negative ROE may indicate losses or negative equity.
BLOOMIA HOLDINGS, INC. (LDWY) has a 5-year average gross margin of 18.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for BLOOMIA HOLDINGS, INC. (LDWY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BLOOMIA HOLDINGS, INC. (LDWY) has a book value per share of $5.55, based on its most recent annual SEC filing.
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