BLMH BLUM HOLDINGS, INC.

Overview and Growth

BLUM HOLDINGS, INC. generated $12.99M of revenue in fiscal 2024. Revenue of $12.99M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $33.23M in fiscal 2023, revenue decreased 60.9%, a top-line contraction that reduced operating scale. The diluted weighted-average share count was 13.40M, linking total earnings with the per-share result received by shareholders. Compared with 8.19M diluted shares in fiscal 2023, the current 13.40M base was 63.5% higher. At period end, total assets were $24.82M, framing the scale of the company’s operating and financing commitments. The revenue-to-assets relationship was 0.52x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $6.21M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 47.8% of revenue, quantifying the portion retained before operating expenses were recognized. Operations produced $5.38M of income after the reported operating expense base, before the remaining non-operating and tax effects. Relative to revenue, operating income represented 41.4%, showing how efficiently sales converted into operating profit. EBITDA was $6.11M, supplying an additional view of reported operating earnings before interest, taxes, depreciation, and amortization. Pretax income was $18.31M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. The pretax margin was 141.0%, relating income before taxes directly to revenue. The company recognized $1.42M of income tax for the period, completing the transition from pretax income to net income. The effective relationship between income tax and positive pretax income was 7.7%, without assuming a statutory-rate comparison.

Liquidity and Capital Structure

Equity was negative at -$6.75M, meaning liabilities exceeded the residual book value available to shareholders and weakening balance-sheet resilience. The near-term balance sheet paired $2.87M of current assets with $9.66M of current liabilities at the reporting date. At 0.3x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. Reported cash and equivalents were $1.04M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 10.8%, excluding receivables and other current assets. Total debt was $2.97M, establishing the amount of borrowing carried within the company’s capital structure. Relative to total assets, debt measured 12.0%, showing how much of the asset base was matched by borrowing. The equity-to-assets relationship was -27.2%, placing book capital against the total resource base. Relative to total assets, liabilities measured 119.1%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 4.2% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 22.6% from $32.07M in fiscal 2023, leaving current total assets lower year over year. Cash and equivalents were 150.0% higher than fiscal 2023 cash of $416.00K, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $1.55M, rather than cash generation from operations. The company spent $10.00K on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. Operating cash flow and capital spending combined to leave a $1.56M cash deficit after capital spending. Free-cash-flow margin was -12.0%, reflecting a cash deficit equal to 12.0% of revenue after capital spending. The free-cash-flow deficit equaled 6.3% of total assets, placing the cash shortfall against the company’s resource base. Compared with a $986.00K operating cash outflow in fiscal 2023, the current outflow increased to $1.55M.

Based on the annual report for the fiscal year ending Dec 31, 2024. Analysis generated Sep 24, 2026.