BGSF, Inc.

bgsf.com

What Do They Do?

Provides short-term and on-demand maintenance and office staffing, plus direct-hire placements, to property management companies and property owners serving apartment communities and commercial buildings.

How Do They Make Money?

Property management clients pay for staffing services as BGSF’s field employees work; clients are billed for the services rendered. For permanent placements, clients pay a fee when a candidate starts employment, with the fee generally based on the new worker’s annual compensation.

FY2025 revenue

Who Are Their Customers?

Small and medium-sized property management companies and property owners in multifamily and commercial markets hire BGSF for workforce solutions. The engagements are generally short-term and non-exclusive.

Do Revenues Turn Into Profits?

Not on paper. It lost $11.4M in FY2025, but brought in more cash than it spent: $4K of free cash flow.

Operating income, FY2025

−10% of revenue

▲ +52% (Loss) vs FY2024 (−$5.9M, −6%)

Net income, FY2025

−12% of revenue

▲ +242% (Loss) vs FY2024 (−$3.3M, −3%)

Free cash flow, FY2025

0% of revenue

▼ −100% vs FY2024 ($23.2M, 22%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 28, 2026

Revenue: ▼ −5%; vs $23.5M in Q2 FY2025
Net income: ▼ −78% (Loss); vs −$3.7M in Q2 FY2025

May 6, 2026 BGSF forecast 2026 revenue growth in the low- to mid-single-digit range The company said it completed its transition services agreement with INSPYR and was operating as a stand-alone company.

Shrinking. Revenue fell 61% in 4 years, from $239M in FY2021 to $93.3M in FY2025, about 21% a year.

Focus on property management The latest report describes continuing operations as focused on property management staffing, while the older report also included a Professional segment providing IT, finance, accounting and other workforce solutions.

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