BBSIHIGH SIGNALFINANCIAL10-K

BBSI experienced extraordinary growth with revenue surging 283% to $920.4M and operating cash flow jumping 554% to $66.0M, indicating either significant business expansion or major structural changes.

The massive revenue increase combined with dramatically improved cash generation suggests either major acquisitions, significant organic expansion, or fundamental changes to the business model. The company is also returning substantial capital to shareholders through increased buybacks ($42.0M vs $29.1M), indicating confidence in the enhanced cash generation capability.

Comparing 2026-02-26 vs 2025-02-28View on EDGAR →
FINANCIAL ANALYSIS

BBSI delivered exceptional financial performance with revenue nearly quadrupling to $920.4M while operating cash flow surged from $10.1M to $66.0M, demonstrating both top-line growth and improved operational efficiency. The company strengthened its balance sheet with cash rising 72% to $95.0M while maintaining manageable liability growth of just 13%, and increased capital returns through 44% higher share buybacks. This comprehensive financial transformation signals either successful major expansion initiatives or fundamental business model improvements that have dramatically enhanced the company's scale and profitability.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+553.9%
$10.1M→$66.0M

Operating cash flow surged 553.9% — exceptional cash generation, highest quality earnings signal.

Revenue
P&L
+283.3%
$240.1M→$920.4M

Strong top-line growth of 283.3% — accelerating demand or successful expansion into new markets.

Cash & Equivalents
Balance Sheet
+71.6%
$55.4M→$95.0M

Cash position surged 71.6% — strong cash generation or capital raise providing significant financial cushion.

Capital Expenditure
Cash Flow
+54%
$3.7M→$5.7M

Capital expenditure jumped 54% — major investment cycle underway; assess returns on deployment.

Share Buybacks
Cash Flow
+44%
$29.1M→$42.0M

Share repurchases increased 44% — management returning capital, signals confidence in intrinsic value.

Current Liabilities
Balance Sheet
+13.1%
$358.9M→$405.9M

Current liabilities rose 13.1% — increased short-term obligations, watch current ratio.

Current Assets
Balance Sheet
+10.3%
$475.4M→$524.6M

Current assets grew 10.3% — improving short-term liquidity or inventory/receivables build.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-02-28
ADDED
We provide our PEO clients with access to human resource advisors and a human resources information system (HRIS), retirement plans, a learning management system and our web-based technology platform, myBBSI.
During 2025, we supported in excess of 8,200 PEO clients with total average WSEs of 138,218.
We have PEO client services agreements with customers in a diverse array of industries, including, among others, construction, waste management and remediation services, manufacturing, transportation and warehousing, health care, leisure and hospitality, retail, professional and advisory services and wholesale trade.
The Company maintains a fully insured arrangement for its insured program, whereby third-party insurers assume substantially all risk of loss for claims incurred under the program.
This fully insured arrangement covers claims incurred between July 1, 2021 and June 30, 2026.
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REMOVED
Common Stock Split On June 4, 2024, we amended our Charter to increase the number of authorized shares of common stock from 20,500,000 shares to 82,000,000 shares, and our Board of Directors declared a four-for-one split of the Company s common stock effected in the form of a stock dividend (the 2024 Stock Split ).
Each stockholder of record at the close of business on June 14, 2024 received a dividend of three additional shares of common stock for each then-held share, distributed after close of trading on June 21, 2024.
All share and per share amounts presented herein have been retroactively adjusted to reflect the impact of the 2024 Stock Split.
The shares of common stock retain a par value of $0.01 per share.
Accordingly, an amount equal to the par value of the increased shares resulting from the stock split was reclassified from additional paid-in capital to common stock.
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