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LDWY

Lendway, Inc.

LDWY

Lendway, Inc. • NASDAQ
$3.77 ▼ -0.79% (-0.03)
Market Cap $6.67 M
52w High $6.19
52w Low $3.35
Dividend Yield 0%
P/E -2.56
Volume 468
Outstanding Shares 1.77M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $5.153M ▼ $2.983M ▲ $-2.854M ▼ -55.385% ▼ $-1.61 ▼ $-2.39M ▼
Q2-2025 $23.179M ▲ $2.906M ▲ $1.047M ▲ 4.517% ▲ $0.59 ▲ $2.633M ▲
Q1-2025 $12.443M ▲ $2.457M ▼ $449K ▲ 3.608% ▲ $0.25 ▲ $2.291M ▲
Q4-2024 $6.192M ▼ $3.306M ▲ $-2.94M ▼ -47.481% ▼ $-1.66 ▼ $-2.382M ▼
Q3-2024 $6.628M $2.791M $-1.125M -16.973% $-0.64 $-531K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.84M ▲ $105.031M ▲ $93.513M ▲ $9.323M ▼
Q2-2025 $906K ▼ $96.102M ▼ $81.265M ▼ $12.137M ▲
Q1-2025 $1.308M ▼ $100.514M ▲ $87.946M ▼ $10.332M ▲
Q4-2024 $1.759M ▲ $99.985M ▼ $88.091M ▲ $9.84M ▼
Q3-2024 $1.333M $102.459M $87.194M $12.803M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.854M ▼ $-9.927M ▼ $-46K ▲ $10.885M ▲ $934K ▲ $-9.973M ▼
Q2-2025 $1.342M ▲ $6.265M ▲ $-211K ▼ $-6.951M ▼ $-402K ▲ $6.054M ▲
Q1-2025 $627K ▲ $1.737M ▲ $-68K ▲ $-2.132M ▼ $-451K ▼ $1.669M ▲
Q4-2024 $-2.962M ▼ $-1.479M ▲ $-466K ▼ $2.409M ▼ $426K ▲ $-1.945M ▲
Q3-2024 $-1.258M $-7.555M $-39K $7.205M $-388K $-7.758M

Five-Year Company Overview

Income Statement

Income Statement Historically, Lendway’s income statement has been very small and relatively inactive, reflecting its prior life as an advertising-focused company rather than a scaled operating business. Revenue only begins to pick up meaningfully after the Bloomia acquisition, with recent disclosures showing a sharp jump in sales but still no consistent profitability. The business is seasonal, and margins are being pressured by higher bulb costs and tariffs, so recent periods show a net loss despite growing revenue. Overall, the picture is of a company in the early stages of a new business model, with sales ramping but earnings still fragile and highly sensitive to costs and seasonality.

Balance Sheet

Balance Sheet The balance sheet has shifted from a very small, light structure to a more leveraged, asset-backed profile as the company acquired Bloomia. Assets have increased, but this has been funded largely by debt, while equity remains thin. Cash balances have moved around and do not appear especially large relative to the new operating scale, suggesting limited cushion if results disappoint or if working capital needs spike during peak seasons. In short, the company now has more real operating assets but also more financial risk, and less room for prolonged underperformance.

Cash Flow

Cash Flow Historically, cash flows were minimal and not very meaningful because the legacy operations were small. More recently, the business appears to consume cash at times, reflecting investment in the new agricultural platform and the seasonal nature of flower production. Free cash flow has been weak or negative in the latest year, and future cash patterns will likely be lumpy as the company builds inventory ahead of key selling periods and then collects from large retail customers afterward. Until margins stabilize and the new model matures, cash generation should be viewed as uncertain and dependent on good execution and cost control.

Competitive Edge

Competitive Edge Through Bloomia, Lendway has moved into a niche where it does have some clear advantages. It is one of the larger producers of fresh-cut tulips in North America, operates year-round through a global greenhouse footprint, and sells directly into a small set of major retailers. Longstanding relationships with well-known grocery chains give it access to high-volume, recurring demand. Its farm-to-store model, sustainability credentials, and fair labor certification create a brand story that retailers find attractive. The flip side is customer concentration risk—relying heavily on a limited number of big buyers—as well as exposure to agricultural and logistics disruptions that can quickly affect costs and service levels.

Innovation and R&D

Innovation and R&D Innovation here is less about traditional lab R&D and more about farming technology and process design. Bloomia uses hydroponic growing methods, automation in greenhouses, and a focus on larger, higher-quality bulbs to produce longer-lasting flowers. The company is investing in sustainability efforts such as alternative energy and waste-to-energy concepts, which can both lower its footprint and potentially improve costs over time. These efforts, combined with experimentation in product varieties and growing locations, represent a steady, practical form of R&D aimed at securing better yields, more reliable supply, and a differentiated product story rather than breakthrough scientific discovery.

Summary

Lendway is in the midst of a major transformation—from a small advertising-related entity into a specialty agriculture and finance platform anchored by Bloomia’s tulip business. The legacy financials mostly show a tiny company with limited activity; the post-acquisition picture is one of rapidly higher revenue, but still weak profitability, higher leverage, and uneven cash flow. Strategically, the company now has tangible competitive strengths: scale in a focused floral niche, deep relationships with large retailers, an efficient direct-to-retail model, and a strong sustainability and fair-labor narrative. At the same time, it faces meaningful risks: dependence on a few key customers, exposure to agricultural input costs and tariffs, seasonality, and the execution challenge of integrating and growing a new core business. Overall, LDWY looks like an early-stage pivot story where the qualitative positioning is promising, but the financial profile is not yet proven or stable.

NEWS

November 10, 2025 · 4:25 PM UTC

Lendway, Inc. Announces September 30, 2025 Financial Results

Read more