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    Steve Coleby

    Research Analyst at Mangrove

    There is no available evidence that Steve Coleby works as an analyst at Mangrove or holds any finance-related analyst position, nor are there records of his performance, company coverage, credentials, or career history in this field. No professional profiles, industry recognitions, or regulatory credentials were found linking Steve Coleby to Mangrove or the financial analyst profession.

    Steve Coleby's questions to BGSF (BGSF) leadership

    Steve Coleby's questions to BGSF (BGSF) leadership • Q2 2025

    Question

    Steve Coleby from Mangrove inquired about the proportion of business from exclusive versus non-exclusive agreements and its competitive advantage. He also asked about the incremental margin profile of the business above breakeven and sought to understand the composition of G&A costs, specifically regarding office lease expenses.

    Answer

    Interim Co-CEO Kelly Brown stated that the strategic portfolio, which includes exclusive and semi-exclusive agreements, comprises roughly 11-15% of total revenue and that BGSF's national footprint is a key competitive advantage. Interim Co-CEO & CFO Keith Schroeder explained that there is significant operating leverage, with about 35% of incremental revenue dollars expected to fall to the bottom line. He also clarified that property management office costs are included in 'selling costs,' not the corporate G&A line item.

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