Business/Financial Results (Form 8-K)

FOR IMMEDIATE RELEASE

BLOOMIA HOLDINGS, INC. ANNOUNCES DECEMBER 31, 2025 FINANCIAL RESULTS AND UPDATED EXPIRATION DATE FOR RIGHTS OFFERING

MINNEAPOLIS, MN - February 13, 2026 - Bloomia Holdings, Inc. (Nasdaq: TULP) ("Bloomia Holdings" or the "Company") today announced its financial results for the second fiscal quarter ended December 31, 2025.

Overview

Three Months Ended December 31, 2025

Six Months Ended December 31, 2025

Bloomia Holding's Chairman and Co-Chief Executive Officer, Mark Jundt, commented, "This quarter, along with the quarter preceding it, represents and concludes our offseason. In a seasonal business like ours, our offseason is a time to increase focus on operational efficiencies and build our inventory as we prepare for the exciting busy season ahead. Our operational improvements, including further investments in automation, are a large reason why our operating results were 43% better than the prior year's comparable quarter. I'm very proud of the hard work our team has put in for dramatically improved results like this and we will carry this momentum into our commencing busy season. We are up for the challenge." Co-Chief Executive Officer Dan Philp added, "We are pleased with the results from the second fiscal quarter, which includes not only the significantly improved operating results that Mark mentioned, but an increase in revenue as well. I want to thank the team for driving this success. These strong earnings are another reason why we are confident in the Rights Offering we are about to commence. We believe now is a great time to be a Bloomia Holdings stockholder."

Q2 Fiscal Year 2026 Results

Net Revenue

Net revenue was $6.7 million in the three months ended December 31, 2025, compared to $6.2 million in the three months ended December 31, 2025. The increase is primarily due to higher prices in the current fiscal year.

Net revenue was $11.9 million for the six months ended December 31, 2025, compared to $12.8 million in the six months ended December 31, 2024. The decrease in revenue is due to strategically growing tulips earlier in the calendar year to meet higher demand near Mother's Day, resulting in fewer stems to sell at the beginning of this fiscal year. Additionally, the Company purchased fewer Dutch bulbs in 2024, so there were less stems to grow at the end of the Dutch bulb season, which is typically July and August. These decreases were partially offset by higher prices in the current fiscal year.

Gross profit (loss)

Gross profit in the three months ended December 31, 2025 was $0.5 million, or 7.2% of sales, compared to gross loss of $0.6 million, or (9.4)% of sales, in the three months ended December 31, 2024. The current year benefitted from a $300,000 grant received from the U.S. federal government. The prior fiscal year also included unusually high bulb rot.

Gross profit in the six months ended December 31, 2025 was $0.4 million, or 3.6% of sales, compared to gross profit of $0.9 million, or 6.7% of sales, in the six months ended December 31, 2024. The Company strategically accelerated the growing of stems to meet spring demand, which led to less stems available for sale in the beginning of the year to cover fixed costs such as rent, which reduced margin year-over-year. This decline was partially offset by the grant received in the period, higher prices in the fiscal current year, and unusually high bulb rot in the prior fiscal year.

Operating loss

The Company had an operating loss of $2.3 million in the three months ended December 31, 2025, compared to operating loss of $3.9 million in the three months ended December 31, 2024. The improvement is primarily due to the increase in gross profit.

The Company had operating loss of $5.3 million in the six months ended December 31, 2025, compared to operating loss of $5.2 million in the six months ended December 31, 2024. The decrease in gross profit was offset by a decrease in corporate overhead resulting in a marginal increase to operating loss year over year.

Net loss from continuing operations

Net loss from continuing operations was $2.7 million in the three months ended December 31, 2025, compared to a loss of $3.4 million in the three months ended December 31, 2024. The improvement in the loss is primarily due to higher operating income, partially offset by higher interest and lower exchange rate gain.

Net loss from continuing operations was $6.0 million in the six months ended December 31, 2025, compared to a loss of $4.8 million in the six months ended December 31, 2024. The increase in the loss is primarily due to an increase in foreign exchange losses and higher interest expense.

Net loss attributable to Bloomia Holdings

Net loss attributable to Bloomia Holdings for the three months ended December 31, 2025 was $2.3 million, or $1.29 per diluted share, compared to net loss attributable to Bloomia Holdings of $2.9 million, or $1.66 per diluted share, in the three months ended December 31, 2024. The decrease is due to the improvement in the loss from continuing operations.

Net loss attributable to Bloomia Holdings for the six months ended December 31, 2025 was $5.1 million, or $2.90 per diluted share, compared to net loss attributable to Bloomia Holdings of $4.1 million, or $2.30 per diluted share, in the six months ended December 31, 2024. The increase in the loss is due to the increase in the loss from continuing operations.

EBITDA

In the three months ended December 31, 2025, EBITDA was a loss of $1.4 million, compared to a loss of $2.7 million in the three months ended December 31, 2024. The improvement in EBITDA is due to higher sales and lower costs.

In the six months ended December 31, 2025, EBITDA was a loss of $3.8 million, compared to a loss of $3.3 million in the six months ended December 31, 2024. The decrease in EBITDA is due to lower sales which resulted in lower margin, higher exchange rate losses and higher interest, partially offset by the grant received and lower general and administrative costs.

Balance Sheet

As of December 31, 2025, cash and cash equivalents totaled $1.2 million, compared to $0.9 million as of June 30, 2025. The increase is primarily due to higher debt proceeds in the six months ended December 31, 2025 and the timing of payables. Working capital (current assets less current liabilities) was $9.6 million at December 31, 2025, compared to $1.1 million at June 30, 2025. The increase is due to the purchasing of bulbs for "high season" in the spring. Working capital has historically been near its peak as of December 31 and near the trough at June 30 due to the seasonality of the business. Debt, including a $6.6 million note payable to a related party, was $47.0 million as of December 31, 2025, compared to $34.1 million at June 30, 2025. The increase is a result of the Company drawing on its revolving line of credit and borrowing funds pursuant to additional promissory notes, primarily to purchase tulip bulbs in the quarter.

Updated Expiration Date for Rights Offering

The Company previously announced that its contemplated rights offering was expected to expire at 5:00 p.m., Central Time, on March 28, 2026. To accommodate the requirements of Equiniti Trust Company, LLC, the subscription agent for the rights offering, the Company has updated the expected expiration of the rights offering to 5:00 p.m., Central Time, on March 27, 2026.

About Bloomia Holdings, Inc.

On January 28, 2026, the Company changed its name to Bloomia Holdings, Inc. by filing an amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware. The name change became effective on January 28, 2026. As a result of the name change, effective February 2, 2026, the Company's common stock, par value $0.01 per share, ceased trading on the Nasdaq Capital Market under the name Lendway, Inc. and under the ticker symbol "LDWY" and began trading on the Nasdaq Capital Market under the name Bloomia Holdings, Inc. and under new ticker symbol "TULP". The CUSIP of the Common Stock did not change in connection with the name change or the ticker symbol change.

Bloomia Holdings, Inc (Nasdaq: TULP) is a specialty ag company focused on making and managing its ag investments in the U.S. and internationally. The Company is the majority owner of Bloomia, one of the largest producers of fresh-cut tulips in the United States. For additional information, contact (800) 874-4648 or visit our website at www.bloomiaholding co.com. Investor inquiries can be submitted to [email protected].