Document


		For the Thirteen Week Periods Ended
		September 27, 2026			September 28, 2025
Revenues		$	25,129		$	26,895
Gross profit		$	9,083		$	9,660
Gross profit percentage		36.1		%	35.9		%
Operating income (loss)		$	206		$	(937)
Net income (loss)		$	94		$	(3,078)

Net income (loss) per diluted share		$	0.01		$	(0.28)


Non-GAAP Financial Measures:
	Adjusted EBITDA1	$	858		$	980
	Adjusted EBITDA Margin (% of revenue)1	3.4		%	3.6		%
	Adjusted EPS1	$	0.09		$	0.08

Co-Chief Executive Officer and Chief Financial Officer, Keith Schroeder, said, “While revenue remained pressured by cautious customer spending, our focus on expense management and operational efficiency enabled us to sustain profitability and maintain a strong balance sheet. We believe the cost reduction measures implemented during the year, coupled with ongoing investments in strategic initiatives, provide a balanced approach to managing near-term market challenges while positioning BGSF for long-term value creation.”

Co-Chief Executive Officer and Property Management President, Kelly Brown, commented, “While customer spending remains cautious, we continue to execute on initiatives that strengthen our business, improve productivity, and enhance the experience we deliver to both clients and candidates. We are encouraged by the growth of our PropTech platform and the progress we are making with AI-enabled recruiting and operational enhancements, which we believe position BGSF to emerge stronger as multifamily market conditions continue to stabilize.”

BGSF will discuss its third quarter 2026 financial results during a conference call and webcast at 9:00 a.m. ET on November 5, 2026. Interested participants may dial 1-800-715-9871 (Toll Free) or 1-646-307-1963 (International) and ask to be included in the BGSF call. A call replay will be available until November 12, 2026. To access the replay, please dial 1-855-669-9658 (Toll Free), or 1-412-317-0088 (International) and enter access code 2453258. The live webcast and archived replay are accessible from the investor relations section of the Company’s website at https://investor.bgsf.com/events-and-presentations/default.aspx

BGSF provides best-in-class property management resources and solutions to growing apartment and luxury communities, as well as commercial properties, and was awarded Supplier Company of the Year by the National Apartment Association in recent years. Through its exclusive and semi-exclusive agreements with some of the largest property management companies in North America, BGSF offers differentiated advantages to clients, including trained talent and unique technological platforms that seek to maximize efficiencies in the growing residential and commercial leased property industries. For more information on the Company and its services, please visit its website at www.bgsf.com.

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Such forward-looking statements include, but are not limited to, statements regarding BGSF’s expectations, hopes, beliefs, intentions, plans, prospects, or strategies regarding the future revenue and the business plans of BGSF’s management team. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “endeavor,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on certain assumptions and analyses made by the management of BGSF considering their respective experience and perception of historical trends, current conditions, and expected future developments and their potential effects on BGSF as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting BGSF will be those anticipated. These forward-looking statements involve a number of risks, uncertainties, or other assumptions that may cause

actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including the mix of services or solutions utilized by BGSF’s client partners and such client partners’ needs for these services or solutions, market acceptance of new offerings of services or solutions, the ability of BGSF to expand what it does for existing client partners as well as to add new client partners, whether BGSF will have sufficient capital to operate as anticipated, the impact of the use of AI-powered technologies and the timing of their availability, the impact of our strategic initiatives and cost reductions, the demand for BGSF’s services and solutions, economic activity in BGSF’s industry and in general, and certain risks, uncertainties, and assumptions described in BGSF’s most recently filed Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q under the heading “Risk Factors.” Should one or more of these risks or uncertainties materialize or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. BGSF undertakes no obligation to update or revise any forward-looking statements, whether because of new information, future events, or otherwise, except as may be required under applicable securities laws.


			September 27, 2026		December 28, 2025
ASSETS
Current assets
	Cash and cash equivalents		$	9,302	$	19,018
	Short-term investments		8,622		—
	Accounts receivable (net of allowance for credit losses of $982 and $1,156, respectively)		13,974		11,898
	Escrow receivable		750		4,950
	Prepaid expenses		1,230		1,126


	Other current assets		1,381		1,458

		Total current assets	35,259		38,450

Property and equipment, net			199		244

Other assets
	Deposits		1,918		1,938

	Software as a service, net		2,581		3,002
	Deferred income taxes, net		9,404		9,496
	Right-of-use asset - operating leases, net		575		630
	Intangible assets, net		2,580		3,003
	Goodwill		1,074		1,074

		Total other assets	18,132		19,143
	Total assets		$	53,590	$	57,837
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities

	Accounts payable		$	459	$	503
	Accrued payroll and expenses		5,035		4,441
	Transition services payable		855		3,064


	Income taxes payable		22		76
	Note payable		—		449
	Severance payable, current portion		194		392

	Lease liabilities, current portion		408		409

		Total current liabilities	6,973		9,334



Severance payable, less current portion			—		100

Lease liabilities, less current portion			213		298


	Total liabilities		7,186		9,732

Commitments and contingencies

Preferred stock, $0.01 par value per share, 500,000 shares authorized, -0- shares issued and outstanding			—		—
Common stock, $0.01 par value per share; 19,500,000 shares authorized 11,279,222 and 11,227,197 shares issued, respectively, and 10,664,785 and 10,872,067 outstanding, respectively			113		112
Additional paid in capital			72,039		71,445
Accumulated deficit			(22,835)		(21,874)
Treasury stock of 614,437 and 355,130 shares, respectively			(2,913)		(1,578)
	Total stockholders’ equity		46,404		48,105
	Total liabilities and stockholders’ equity		$	53,590	$	57,837


		Thirteen Weeks Ended				Thirty-nine Weeks Ended
		2026		2025		2026		2025
Revenues		$	25,129	$	26,895	$	68,324	$	71,284
Cost of services		16,046		17,235		43,913		45,654
	Gross profit	9,083		9,660		24,411		25,630
Selling, general, and administrative expenses		8,718		10,223		26,451		31,804
Gain on contingent consideration		—		(450)		—		(450)

Depreciation and amortization		159		824		497		1,411
	Operating income (loss)	206		(937)		(2,537)		(7,135)

Interest income (expense), net		38		(1,570)		272		(4,595)
	Income (loss) before income taxes from continuing operations	244		(2,507)		(2,265)		(11,730)
Income tax (expense) benefit from continuing operations		(150)		(571)		136		1,461
	Income (loss) from continuing operations	94		(3,078)		(2,129)		(10,269)
Income (loss) from discontinued operations:
	Income	—		226		—		3,695
	Gain (loss) on sale	250		(2,892)		1,168		(2,892)
	Income tax expense	—		(68)		—		(804)
	Net income (loss)	$	344	$	(5,812)	$	(961)	$	(10,270)





Net income (loss) per share - basic and diluted:
	Net income (loss) from continuing operations	$	0.01	$	(0.28)	$	(0.20)	$	(0.93)
	Net income (loss) from discontinued operations:
	Income	—		0.02		—		0.34
	Gain (loss) on sale	0.02		(0.26)		0.11		(0.26)
	Income tax expense	—		—		—		(0.08)
	Net income (loss) per share - basic and diluted	$	0.03	$	(0.52)	$	(0.09)	$	(0.93)









Weighted-average shares outstanding:
	Basic	10,550		11,079		10,506		11,018
	Diluted	10,565		11,079		10,506		11,018

Cash dividends declared per common share		$	—	$	2.00	$	—	$	2.00


		Thirteen Weeks Ended				Thirty-nine Weeks Ended
		September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025

Contract field talent		$	24,317	$	26,341	$	65,999	$	69,619
Contingent placements		812		554		2,325		1,665
	Revenue	25,129		26,895		68,324		71,284
Compensation and related		16,008		17,197		43,796		45,541
Other		38		38		117		113
	Gross profit	9,083		9,660		24,411		25,630
Selling:
	Compensation	4,253		4,349		12,853		12,469
	Advertising, occupancy, and travel	470		472		1,406		1,297
	Software, insurance, and professional fees	513		483		1,465		1,152
	Other	206		368		720		2,577
	Contributions to overhead	3,641		3,988		7,967		8,135
General and administrative:
	Compensation	1,554		2,073		4,588		6,318
	Software	577		750		1,801		2,197
	Professional fees	434		131		1,405		1,334
	Strategic alternatives review/restructuring	175		482		1,043		2,116
	Other	536		1,115		1,170		2,344
Gain on contingent consideration		—		(450)		—		(450)

Depreciation and amortization		159		824		497		1,411
	Operating income (loss)	206		(937)		(2,537)		(7,135)
Interest income (expense), net		38		(1,570)		272		(4,595)
Income tax (expense) benefit from continuing operations		(150)		(571)		136		1,461
	Income (loss) from continuing operations	$	94	$	(3,078)	$	(2,129)	$	(10,269)


				2026		2025
Cash flows from operating activities
	Net loss			$	(961)	$	(10,270)
	Net income from discontinued operations			(1,168)		(2,891)
		Adjustments to reconcile net loss to net cash used in operating activities:
		Depreciation		73		86
		Amortization		424		1,325
		Software as a service		421		950
		Loss on sale of discontinued operations		—		2,892

		Loss on disposal of property and equipment		—		11
		Contingent consideration adjustment		—		(450)
		Amortization of debt issuance costs		—		1,022

		Interest expense on note payable		—		235
		Provision for credit losses		334		1,822
		Share-based compensation		595		850
		Deferred income taxes		92		(1,450)
		Other non-cash items		(90)		—
		Net changes in operating assets and liabilities:
			Accounts receivable	(2,411)		(2,236)
			Escrow receivable	4,200		(4,950)
			Prepaid expenses	(105)		302
			Other current assets	346		(516)
			Deposits	20		73


			Accounts payable	(44)		1,877
			Accrued payroll and expenses	594		2,642
			Transition services payable	(2,209)		1,474
			Accrued interest	—		(223)
			Income taxes receivable (payable)	(322)		323
			Severance payable	(299)		—
			Other current liabilities	—		1,940
			Operating leases	(30)		(15)
			Other long-term liabilities	—		3,406
		Net cash used in continuing operating activities		(540)		(1,771)
		Net cash provided by discontinued operating activities		—		227
		Net cash used in operating activities		(540)		(1,544)
Cash flows from investing activities

	Proceeds from business sold			1,168		91,528
	Purchases of short-term investments			(20,436)		—
	Proceeds from sale of short-term investments			8,897		—
	Proceeds from redemptions of short-term investments			3,007		—
	Capital expenditures			(28)		(122)

		Net cash (used in) provided by continuing investing activities		(7,392)		91,406
		Net cash used in discontinued investing activities		—		(193)
		Net cash (used in) provided by investing activities		(7,392)		91,213



Cash flows from financing activities
	Net payments under line of credit		—		(10,220)

	Principal payments on long-term debt		—		(32,725)
	Payment of convertible note		—		(4,368)

	Issuance of ESPP shares		—		134

	Note payable paid		(449)		(1,289)
	Repurchase of common stock		(1,335)		—
	Payments of debt issuance costs		—		(29)
		Net cash used in financing activities	(1,784)		(48,497)


Net change in cash and cash equivalents			(9,716)		41,172
Less: net change in cash and cash equivalents, discontinued operations			—		34
Cash and cash equivalents, beginning of period			19,018		32
Cash and cash equivalents, end of period, continuing operations			$	9,302	$	41,170
Supplemental cash flow information:
	Cash paid for interest		$	58	$	3,398
	Cash paid for state taxes, net of refunds		$	89	$	535

Non-cash transaction: Dividends declared			$	—	$	22,400

A non-GAAP financial measure is a numerical measure of a company's financial performance that excludes or includes amounts so as to be different from the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of a company. Adjusted EBITDA and Adjusted EPS are not measurements of financial performance under GAAP and should not be considered as alternatives to net income, net income per diluted share, operating income, or any other performance measure derived in accordance with GAAP, or as alternatives to cash flow from operating activities or measures of our liquidity. We believe that Adjusted EBITDA and Adjusted EPS are useful performance measures and are used by us to facilitate a comparison of our operating performance on a consistent basis from period-to-period and to provide for a more complete understanding of factors and trends affecting our business than measures under GAAP can provide alone.

We define “Adjusted EBITDA" as earnings before interest (income) expense, income taxes, depreciation and amortization expense, costs associated with the evaluation of potential strategic alternatives (“strategic alternatives review/restructuring”), software as a service costs, and certain non-cash expenses such as share-based compensation expense, as well as certain specific events that management does not consider in assessing our on-going operating performance.

We define “Adjusted EPS” as diluted earnings per share eliminating interest (income) expense, depreciation, and amortization expense, the strategic alternatives review/restructuring, software as a service costs, and certain non-cash expenses such as share-based compensation expense, as well as certain specific events that management does not consider in assessing our on-going operating performance, net of the respective income tax effect.


	Thirteen Weeks Ended						Thirty-nine Weeks Ended
	September 27, 2026			September 28, 2025			September 27, 2026			September 28, 2025
Income (loss) from continuing operations	$	94		$	(3,078)		$	(2,129)		$	(10,269)
Income tax expense (benefit)	150			571			(136)			(1,461)
Interest (income) expense, net	(38)			1,570			(272)			4,595
Operating income (loss)	206			(937)			(2,537)			(7,135)
Depreciation and amortization	159			824			497			1,411
Gain on contingent consideration	—			(450)			—			(450)

Share-based compensation	178			545			595			850
Strategic alternatives review/restructuring	175			482			1,043			2,116
Software as a service1	140			516			421			950

Aged receivable adjustment	—			—			—			1,070
Adjusted EBITDA from continuing operations	858			980			19			(1,188)
Adjusted EBITDA Margin (% of revenue)	3.4		%	3.6		%	—		%	(1.7)		%
Income (loss) from discontinued operations	250			(2,734)			1,168			(1)

Adjustments to discontinued operations2	—			1,059			—			4,429
Adjusted EBITDA from discontinued operations	250			(1,675)			1,168			4,428
Adjusted EBITDA, net	$	1,108		$	(695)		$	1,187		$	3,240


	Thirteen Weeks Ended				Thirty-nine Weeks Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
Income (loss) from continuing operations per diluted share	$	0.01	$	(0.28)	$	(0.20)	$	(0.93)
Income tax expense (benefit)	0.01		0.05		(0.01)		(0.13)
Interest (income) expense, net	—		0.14		(0.03)		0.42

Operating income (loss)	0.02		(0.09)		(0.24)		(0.64)

Depreciation and amortization	0.02		0.07		0.05		0.13

Gain on contingent consideration	—		(0.04)		—		(0.04)
Share-based compensation	0.02		0.05		0.06		0.08
Strategic alternatives review/restructuring	0.02		0.04		0.10		0.19
Software as a service1	0.01		0.05		0.04		0.09
Aged receivable adjustment	—		—		—		0.10
Adjusted EPS from continuing operations	0.09		0.08		0.01		(0.09)

Adjusted EPS from discontinued operations	0.02		(0.16)		0.11		0.42
Adjusted EPS	$	0.11	$	(0.08)	$	0.12	$	0.33