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Side-by-side financial comparison of BGSF, INC. (BGSF) and DLH Holdings Corp. (DLHC). Click either name above to swap in a different company.
DLH Holdings Corp. is the larger business by last-quarter revenue ($68.9M vs $22.0M, roughly 3.1× BGSF, INC.). DLH Holdings Corp. runs the higher net margin — -1.9% vs -5.3%, a 3.3% gap on every dollar of revenue. On growth, BGSF, INC. posted the faster year-over-year revenue change (-9.4% vs -24.1%). BGSF, INC. produced more free cash flow last quarter ($1.7M vs $-4.8M). Over the past eight quarters, BGSF, INC.'s revenue compounded faster (-5.3% CAGR vs -17.4%).
BGSF Inc. is a leading U.S.-headquartered workforce solutions firm that provides tailored staffing, talent recruitment, and end-to-end workforce management services. It serves core segments including information technology, healthcare, professional administration, light industrial, and creative industries, catering to small, mid-sized and large enterprise clients across North America.
DLH Holdings Corp. is a U.S.-based provider of technology-enabled healthcare, logistics, engineering, and mission support services primarily serving federal government agencies including the Department of Veterans Affairs, Department of Defense, and Department of Health and Human Services, as well as select state and local government clients across core public service segments.
BGSF vs DLHC — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $22.0M | $68.9M |
| Net Profit | $-1.2M | $-1.3M |
| Gross Margin | 35.0% | — |
| Operating Margin | -17.6% | 2.1% |
| Net Margin | -5.3% | -1.9% |
| Revenue YoY | -9.4% | -24.1% |
| Net Profit YoY | -18.2% | -218.7% |
| EPS (diluted) | $-0.12 | $-0.09 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $22.0M | $68.9M | ||
| Q3 25 | $26.9M | $81.2M | ||
| Q2 25 | $23.5M | $83.3M | ||
| Q1 25 | $20.9M | $89.2M | ||
| Q4 24 | $24.3M | $90.8M | ||
| Q3 24 | $29.8M | $96.4M | ||
| Q2 24 | $25.7M | $100.7M | ||
| Q1 24 | $24.5M | $101.0M |
| Q4 25 | $-1.2M | $-1.3M | ||
| Q3 25 | $-5.8M | $-920.0K | ||
| Q2 25 | $-3.7M | $289.0K | ||
| Q1 25 | $-722.0K | $878.0K | ||
| Q4 24 | $-981.0K | $1.1M | ||
| Q3 24 | $-804.0K | $2.3M | ||
| Q2 24 | $-761.0K | $1.1M | ||
| Q1 24 | $-792.0K | $1.8M |
| Q4 25 | 35.0% | — | ||
| Q3 25 | 35.9% | — | ||
| Q2 25 | 35.8% | — | ||
| Q1 25 | 36.2% | — | ||
| Q4 24 | 35.9% | — | ||
| Q3 24 | 35.9% | — | ||
| Q2 24 | 37.3% | — | ||
| Q1 24 | 38.1% | — |
| Q4 25 | -17.6% | 2.1% | ||
| Q3 25 | -3.5% | 2.8% | ||
| Q2 25 | -18.8% | 4.5% | ||
| Q1 25 | 1.6% | 5.7% | ||
| Q4 24 | -15.7% | 6.2% | ||
| Q3 24 | -3.4% | 6.6% | ||
| Q2 24 | -5.7% | 5.7% | ||
| Q1 24 | 1.7% | 5.9% |
| Q4 25 | -5.3% | -1.9% | ||
| Q3 25 | -21.6% | -1.1% | ||
| Q2 25 | -15.9% | 0.3% | ||
| Q1 25 | -3.5% | 1.0% | ||
| Q4 24 | -4.0% | 1.2% | ||
| Q3 24 | -2.7% | 2.4% | ||
| Q2 24 | -3.0% | 1.1% | ||
| Q1 24 | -3.2% | 1.8% |
| Q4 25 | $-0.12 | $-0.09 | ||
| Q3 25 | $-0.52 | $-0.07 | ||
| Q2 25 | $-0.34 | $0.02 | ||
| Q1 25 | $-0.06 | $0.06 | ||
| Q4 24 | — | $0.08 | ||
| Q3 24 | $-0.07 | $0.16 | ||
| Q2 24 | $-0.07 | $0.08 | ||
| Q1 24 | — | $0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $257.0K |
| Total DebtLower is stronger | — | $133.5M |
| Stockholders' EquityBook value | $48.1M | $112.2M |
| Total Assets | $57.8M | $283.5M |
| Debt / EquityLower = less leverage | — | 1.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $257.0K | ||
| Q3 25 | $41.2M | $125.0K | ||
| Q2 25 | $2.8M | $194.0K | ||
| Q1 25 | $2.0M | $196.0K | ||
| Q4 24 | $32.0K | $451.0K | ||
| Q3 24 | $262 | $342.0K | ||
| Q2 24 | $226 | $423.0K | ||
| Q1 24 | $50 | $238.0K |
| Q4 25 | — | $133.5M | ||
| Q3 25 | — | $128.0M | ||
| Q2 25 | — | $138.3M | ||
| Q1 25 | — | $147.3M | ||
| Q4 24 | — | $162.2M | ||
| Q3 24 | — | $149.4M | ||
| Q2 24 | — | $160.9M | ||
| Q1 24 | — | $164.8M |
| Q4 25 | $48.1M | $112.2M | ||
| Q3 25 | $50.7M | $113.0M | ||
| Q2 25 | $78.3M | $113.7M | ||
| Q1 25 | $81.8M | $112.8M | ||
| Q4 24 | $82.3M | $111.4M | ||
| Q3 24 | $82.9M | $110.1M | ||
| Q2 24 | $83.2M | $108.6M | ||
| Q1 24 | $83.6M | $106.8M |
| Q4 25 | $57.8M | $283.5M | ||
| Q3 25 | $83.6M | $290.7M | ||
| Q2 25 | $149.7M | $299.3M | ||
| Q1 25 | $152.3M | $306.6M | ||
| Q4 24 | $150.1M | $325.0M | ||
| Q3 24 | $157.3K | $314.4M | ||
| Q2 24 | $159.8K | $325.0M | ||
| Q1 24 | $170.6K | $325.9M |
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 1.22× | ||
| Q1 25 | — | 1.31× | ||
| Q4 24 | — | 1.46× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.48× | ||
| Q1 24 | — | 1.54× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.7M | $-4.8M |
| Free Cash FlowOCF − Capex | $1.7M | $-4.8M |
| FCF MarginFCF / Revenue | 7.6% | -7.0% |
| Capex IntensityCapex / Revenue | 0.1% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0K | $29.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $-4.8M | ||
| Q3 25 | $-4.8M | $10.7M | ||
| Q2 25 | $2.2M | $9.6M | ||
| Q1 25 | $1.1M | $14.5M | ||
| Q4 24 | $3.2M | $-11.5M | ||
| Q3 24 | $6.5M | $12.4M | ||
| Q2 24 | $7.3M | $4.6M | ||
| Q1 24 | $7.4M | $5.2M |
| Q4 25 | $1.7M | $-4.8M | ||
| Q3 25 | $-4.9M | $10.7M | ||
| Q2 25 | $2.1M | $9.4M | ||
| Q1 25 | $1.0M | $14.0M | ||
| Q4 24 | $2.5M | $-12.1M | ||
| Q3 24 | $6.5M | $12.2M | ||
| Q2 24 | $7.3M | $4.5M | ||
| Q1 24 | $6.9M | $4.9M |
| Q4 25 | 7.6% | -7.0% | ||
| Q3 25 | -18.1% | 13.1% | ||
| Q2 25 | 9.1% | 11.2% | ||
| Q1 25 | 5.0% | 15.6% | ||
| Q4 24 | 10.2% | -13.3% | ||
| Q3 24 | 21.7% | 12.7% | ||
| Q2 24 | 28.5% | 4.4% | ||
| Q1 24 | 28.1% | 4.9% |
| Q4 25 | 0.1% | 0.1% | ||
| Q3 25 | 0.4% | 0.0% | ||
| Q2 25 | 0.0% | 0.3% | ||
| Q1 25 | 0.1% | 0.6% | ||
| Q4 24 | 3.0% | 0.6% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | 0.0% | 0.2% | ||
| Q1 24 | 2.0% | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 33.12× | ||
| Q1 25 | — | 16.52× | ||
| Q4 24 | — | -10.35× | ||
| Q3 24 | — | 5.42× | ||
| Q2 24 | — | 4.06× | ||
| Q1 24 | — | 2.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BGSF
Segment breakdown not available.
DLHC
| Sales Channel Directly To Consumer | $64.5M | 94% |
| Sales Channel Through Intermediary | $4.4M | 6% |
