Analogy 1: A Robert Half for a broader range of industries, including light industrial and property management.

Analogy 2: A diversified staffing and recruiting firm, similar to a smaller ManpowerGroup or Adecco.

BGSF primarily provides staffing and workforce solutions, categorized as follows:

• Professional Staffing: Provides temporary, contract, and direct hire placement for IT, finance & accounting, human resources, and other professional roles.
• Real Estate Staffing: Offers staffing solutions for property management, leasing, maintenance, and administrative positions within the multi-family residential industry.
• Light Industrial Staffing: Supplies temporary and permanent workers for manufacturing, logistics, warehousing, and other light industrial sectors.

BGSF primarily sells its staffing and workforce solutions to other companies and governmental entities (B2B model).

According to its latest SEC filings (Form 10-K), BGSF does not have any single major customer that accounts for 10% or more of its total revenues. Its customer base is diversified across a broad range of medium to large-sized businesses and governmental entities.

BGSF serves customers across various industries, primarily through its divisions focusing on:

• Professional Technologies: Providing IT staffing solutions for roles such as software development, data analytics, cybersecurity, and project management.
• Professional Finance & Accounting: Supplying talent for financial, accounting, and related administrative positions across various industries.
• Real Estate (Property Management): Offering staffing for roles within the multifamily and commercial property management sectors, including leasing, maintenance, and administrative support.

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Keith Schroeder Interim Co-CEO and CFO
Mr. Schroeder became Interim Co-CEO and CFO of BGSF, Inc. in early 2025, succeeding John Barnett as CFO. He brings over 40 years of executive leadership experience in accounting, corporate control and reporting, finance, operations, and strategic CEO and CFO roles. Before joining BGSF, Mr. Schroeder served as President and Chief Executive of Novipax Buyer, LLC in a carve-out transaction from December 2020 through 2024. Prior to that, he was Chief Financial Officer of Novipax LLC from February 2019 to November 2020. He also held the roles of CFO and then President and CEO of Xcaliber International LTD, LLC from 2016 to 2018. From 2002 to 2016, Mr. Schroeder served as CFO for Orchids Paper Products. Earlier in his career, he worked in accounting and finance for Cummins Engine Company and Atlas Van Lines, Inc. He is a Certified Public Accountant (inactive).

Kelly Brown Interim Co-CEO and President of Property Management
Ms. Brown was appointed Interim Co-CEO of BGSF effective July 1, 2025, alongside her role as President of Property Management. She began her career in property management in 2003. Ms. Brown joined BGSF in 2014, opening the Nashville office as director of sales. She was promoted to regional sales manager in 2015 and then to Division President in May 2021. In her role, she focuses on maximizing sales performance, assisting in opening new markets, and providing strategic direction. She holds a Certified Staffing Professional designation.

Melissa Phillips Chief Digital Officer
Ms. Phillips joined BGSF in November 2022 as Chief Digital Officer. She is an experienced executive in Marketing, Sales, and Digital Delivery, with significant expertise in leading digital transformations at companies such as Adecco and EmployBridge.

BGSF (NYSE: BGSF) operates primarily in two segments: Property Management and Professional. The Professional segment encompasses IT, finance & accounting, legal, human resources, and other related support personnel staffing.

Addressable Market Sizes:

• IT Staffing: The U.S. IT staffing market was valued at approximately $37.89 billion in 2023 and is projected to reach $52.21 billion by 2029, growing at a CAGR of 5.49%. Globally, the IT staffing market size reached $123.30 billion in 2025 and is projected to advance to $147.58 billion by 2030.
• Property Management Staffing: Information on the specific addressable market size for Property Management staffing is not readily available as a standalone figure.
• Professional Staffing (including Finance, Accounting, Legal, Human Resources, and Administrative): While a specific combined market size for all these components under BGSF's "Professional" segment (excluding IT which is separately identified) is not directly provided in the search results, the broader U.S. staffing industry is substantial. The US staffing industry is a $198.7 billion industry entering 2025. Office Staffing & Temp Agencies in the US had a market size of $238.8 billion in 2024 and is projected to be $260.1 billion in 2025.

BGSF (symbol: BGSF) is poised for future revenue growth over the next 2-3 years, primarily driven by its strategic focus on the property management sector and significant operational enhancements. The key anticipated drivers include:

1. Exclusive Focus on Property Management and Market Expansion: BGSF recently divested its professional division to concentrate solely on the property management industry, a strategic move expected to streamline operations and intensify efforts within this specialized market. An independent consulting firm's comprehensive review identified a significant addressable market exceeding $1 billion and pinpointed "white space opportunities" for growth within property management. This refined strategic roadmap, based on market insights, is anticipated to drive sustainable revenue growth in 2026 compared to 2025.
2. Investment in AI-Powered Technologies: BGSF is actively investing in AI-powered sales and recruiting technologies, which are expected to become fully operational over the next couple of quarters. These technological advancements are designed to enhance performance, improve efficiency, and drive incremental revenue by optimizing client interactions and talent acquisition processes.
3. Operational Efficiencies and Cost Optimization: The company is focused on implementing strategic initiatives and cost reductions to drive revenue growth and profitability. Management is committed to aligning property management costs with revenue and expects these efforts, combined with investments in new tools, to lead to improved financial results in the upcoming quarters.
4. Organic and Acquisitive Growth Strategies: BGSF's investor relations outline a strategy for both organic and acquisitive growth, with a focus on high-end, specialized consulting services within its concentrated segments. This includes strategic geographic expansion and leveraging synergies across its brand platform through collaboration and cross-selling.

Share Repurchases

• In Q3 2025, BGSF's Board of Directors approved a stock repurchase program authorizing the company to repurchase up to $5 million of its common stock.
• This repurchase program does not have an expiration date and does not obligate BGSF to acquire a specific number of shares.

Share Issuance

• In November 2025, stockholders approved amendments to increase the share reserves for the 2013 Long-Term Incentive Plan and the 2020 Employee Stock Purchase Plan by 250,000 shares each.
• In December 2022, the company issued 254,455 shares.

Outbound Investments

• In September 2025, BGSF completed the divestiture of its Professional Division to INSPYR Solutions for $99 million in an all-cash transaction.
• The proceeds from this sale are intended to largely eliminate outstanding debt and fund high-return investments in the Property Management business.
• In February 2020, BGSF acquired 100% of EdgeRock Technology Holdings, Inc., a provider of specialized IT consultants.

Capital Expenditures

• Capital expenditures were approximately $0.013 million in Q2 2025 and $0.023 million in Q1 2025, with Q1 expenditures primarily focused on IT investments.
• Annual capital expenditures were $1.64 million in FY 2024, $2.6 million in FY 2023, $5.68 million in FY 2022, $3.2 million in FY 2021, and $2.08 million in FY 2020.
• In fiscal 2021, capital expenditures of $1.6 million were mainly related to software and computer equipment as part of the IT roadmap.