TULP on Nasdaq

Insignia Systems, Inc.

Logo: This file was supplied to me directly from the company to update their page with., Non-free logo, via Wikipedia4

American advertising company

Insignia Systems, Inc., often referred to as just Insignia, is a publicly traded U.S. Corporation that manufactures point of sale in-store signs and promotional advertising media for consumer packaged goods companies and retailers. Insignia is one of three companies in the United States (the other two are Valassis Communications and News America Marketing) that control almost all the in-store ads and grocery coupons in the United States.3 Its shares trade on Nasdaq under the symbol TULP.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 20, 2026.

Overview

$48.1MRevenue, fiscal 20265
-$11.2MNet income, fiscal 20265
1990Founded1

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  • TickerTULP on Nasdaq1
  • IndustryAgricultural Production-Crops1
  • HeadquartersMinneapolis1
  • Websitewww.insigniasystems.com
  • Incorporated inDE6
  • Business address5000 West 36Th Street, Suite 220, Minneapolis, Mn 554166
  • Filer categoryNon-accelerated filer, Smaller reporting company6

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Insignia Systems, Inc., often referred to as just Insignia, is a publicly traded U.S. Corporation that manufactures point of sale in-store signs and promotional advertising media for consumer packaged goods companies and retailers. Insignia is one of three companies in the United States (the other two are Valassis Communications and News America Marketing) that control almost all the in-store ads and grocery coupons in the United States.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

16.4%Gross margin5
-35.0%Operating margin5
-23.2%Net margin5
-84.0%Return on equity5
1.55×Debt to equity5
-$4.4MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue77¢$40.2M
  • Selling, general and admin22¢$11.6M
  • Income tax1¢$579.0K

Out of $48.1M in revenue.5 The company lost money this year.

Financial statements

Revenue89105$48.1M in 2026+124% since 2019
0$20.0M$40.0M$60.0M2019: $21.5M$21.5M20192020: $17.5M$17.5M2020−19%2021: $19.5M$19.5M2021+12%2022: $18.8M$18.8M2022−4%2024: $37.8M$37.8M2024+101%2026: $48.1M$48.1M2026+27%
Gross profit89105$7.9M in 2026+82% since 2019
0$2.0M$4.0M$6.0M$8.0M2019: $4.3M$4.3M20192020: $2.9M$2.9M2020−34%2021: $3.2M$3.2M2021+13%2022: $3.3M$3.3M2022+2%2024: $6.5M$6.5M2024+97%2026: $7.9M$7.9M2026+21%
Operating income891011125-$16.9M in 2026+176% since 2019
-$20.0M-$15.0M-$10.0M-$5.0M02019: -$6.1M-$6.1M20192020: -$4.8M-$4.8M2020−21%2021: -$4.8M-$4.8M2021−1%2022: -$2.4M-$2.4M2022−49%2023: -$3.5M-$3.5M2023+44%2024: -$6.7M-$6.7M2024+91%2026: -$16.9M-$16.9M2026+151%
Net income891011125-$11.2M in 2026+100% since 2019
-$20.0M-$10.0M0$10.0M$20.0M2019: -$5.6M-$5.6M20192020: -$4.6M-$4.6M2020−17%2021: -$3.5M-$3.5M2021−23%2022: $10.0M$10.0M20222023: $2.4M$2.4M2023−76%2024: -$5.7M-$5.7M20242026: -$11.2M-$11.2M2026+95%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2026-06-302024-12-31
Revenue, net$48.1M$37.8M
Cost of goods sold$40.2M$31.3M
Gross profit$7.9M$6.5M
Sales, general and administrative expenses$11.6M$13.2M
Goodwill impairment$11.1M
Intangible asset impairment$2.0M
Operating (loss) profit-$16.9M-$6.7M
Foreign currency transaction loss (gain), net$419.0K-$400.0K
Interest expense, net$3.7M$3.0M
Gain on settlement of debt-$7.0M
Other expense (income), net$31.0K-$56.0K
(Loss) income from continuing operations before income taxes-$14.0M-$9.2M
Income tax benefit-$579.0K-$2.3M
Net (loss) income from continuing operations-$13.4M-$6.9M
Income from discontinued operations, net of tax$224.0K
Net (loss) income including noncontrolling interest-$13.4M-$6.7M
Less: Net (loss) income attributable to noncontrolling interest-$2.2M-$934.0K
Net (loss) income attributable to Bloomia Holdings, Inc.-$11.2M-$5.7M
Other comprehensive (loss) income (foreign currency translation)-$341.0K-$11.0K
Less: Comprehensive (loss) income attributable to noncontrolling interest-$63.0K-$2.0K
Comprehensive (loss) income attributable to Bloomia Holdings, Inc.-$11.5M-$5.8M
Continuing operations (in dollars per share)-$4-$3
Discontinued operations (in dollars per share)$0
Basic earnings per share (in dollars per share)-$4.43-$3.24
Continuing operations (in dollars per share)-$4-$3
Discontinued operations (in dollars per share)$0
Diluted earnings per share (in dollars per share)-$4.43-$3.24
Basic (in shares)2.5M shares1.8M shares
Diluted (in shares)2.5M shares1.8M shares

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Corporate structure

Insignia Systems, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Insignia Systems, Inc.

  • Morgan Stanley Filed SCHEDULE 13G/A on Insignia Systems, Inc., latest May 7, 2026 (3 filings since Feb 12, 2026)
  • Blue Clay Capital Partners LP Filed SCHEDULE 13G/A on Insignia Systems, Inc., latest Apr 6, 2026 (2 filings since Oct 15, 2025)
  • AIR T INC Filed SC 13D/A on Insignia Systems, Inc., latest Oct 1, 2024
  • David E. Lazar Filed SC 13D/A on Insignia Systems, Inc., latest Aug 29, 2023 (3 filings since Nov 25, 2022)
  • Activist Investing LLC Filed SC 13D on Insignia Systems, Inc., latest May 31, 2022
  • RENAISSANCE TECHNOLOGIES LLC Filed SC 13G/A on Insignia Systems, Inc., latest Feb 10, 2022
  • Insignia Systems, Inc. Minneapolis

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Insignia Systems, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$14.3M5 Jun 30, 2026$13.8M5 Jun 30, 2025+3.6%
Accumulated depreciation$4.2M5 Jun 30, 2026$2.4M5 Jun 30, 2025+77.6%
Property and equipment, net$10.1M5 Jun 30, 2026$11.4M5 Jun 30, 2025−11.8%
Finance-lease assets$1.9M5 Jun 30, 2026$310.0K5 Jun 30, 2025+523.9%
Operating-lease assets (leased space)$32.7M5 Jun 30, 2026$34.1M5 Jun 30, 2025−4.2%

Investments

ItemLatestA year beforeChange
Stakes in other companies (equity method)$192.0K5 Jun 30, 2026$216.0K5 Jun 30, 2025−11.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$05 Jun 30, 2026$11.1M5 Jun 30, 2025−100.0%
Intangible assets, net (excluding goodwill)$21.2M5 Jun 30, 2026$24.8M5 Jun 30, 2025−14.4%
Accumulated amortization$3.6M5 Jun 30, 2026$2.1M5 Jun 30, 2025+73.9%
Finite-lived intangibles, net$14.7M5 Jun 30, 2026$16.2M16 Jun 30, 2025−9.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$5.3M5 Jun 30, 2026$6.7M5 Jun 30, 2025−20.4%
Work in process$1.5M5 Jun 30, 2026$1.3M5 Jun 30, 2025+15.9%
Finished goods$692.0K5 Jun 30, 2026$182.0K5 Jun 30, 2025+280.2%

Properties, in its own words

We believe that our facilities are adequate and suitable for the purposes they serve, including absorption of reasonable growth. We believe that we carry customary levels of insurance covering the replacement of damaged property.

The Company has a month-to-month lease for 1,700 square feet for its corporate headquarters in Minneapolis, Minnesota. Our main operational facility is a leased 360,000 square foot greenhouse in King George, Virginia. The lease in Virginia runs through 2028. In the Netherlands, Bloomia leases a 107,000 square foot office and warehouse space with a lease term through 2034. In South Africa, Bloomia operates a 21,000 square foot greenhouse located in Rawsonville (near Cape Town) with a lease term through 2030.

Item 2 of the 10-K filed Sep 21, 2026.17

The story

Insignia Systems, Inc. was founded on January 2, 1990 by G.L. Hoffman and David Eiss. The company began operations by selling Impulse sign machines that printed in-Store signs and labels. In 1991, Insignia Systems became a publicly traded company, trading on the NASDAQ as ISIG, moving to the National Market in 2002. In 1993 Stylus software was introduced as precursor to the future Insignia POPS line and the original Impulse machine was replaced with the SignRight machine in 1996. Soon after, in 1998, the Insignia POPS innovative sign program became the company's featured product.

1998 was a critical year for Insignia as sales were down and new business was a necessity. In May of that same year the Insignia POPS sign was introduced and, on February 24, 1998, Scott Drill was named CEO of the company. With Drill providing additional direction and the POPS business established, the company and the POPS program grew quickly, reaching 1 million signs in 2001 and 40 million signs in 2011. Through 2006 and 2007, Insignia confirmed a 10-year partnership with Valassis Communications, filling the in-store void for Valassis.

In 2011, the Company reached a settlement of a lawsuit between Insignia Systems and News America Marketing, owned by Rupert Murdoch's News Corporation. The basis of the lawsuit was the accusation of News America Marketing for engaging in various antitrust practices. New America Marketing settled the lawsuit for $125 million, and the two companies entered into a business agreement, making Insignia the sole third party provider of in-store signs with price.

From Wikipedia’s article on Insignia Systems, shared under CC BY-SA 4.0.7

Leadership

Who has led Insignia Systems, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Scott Drill2006–2012
  2. Glen Dall2013–2015
  3. Kristine A. Glancy2016–2022
  4. Werner F. Jansen2024
  5. Daniel C. Philp2024–now
  6. Mark Jundt2024–now

Chair

  1. Scott Drill2012

President

  1. Scott Drill2006–2012
  2. Glen Dall2012–2015
  3. John Gonsior2015
  4. Kristine A. Glancy2017–2022
  5. Werner F. Jansen2024–now

Chief financial officer

  1. Justin W. Shireman2006–2011
  2. John Gonsior2011–2016
  3. Jeffrey A. Jagerson2017–2019
  4. Elizabeth E. McShane2024–now

Chief operating officer

  1. Glen Dall2012
1995200020052010201520202025
Board members and other officers (32)

Former names

  • LENDWAY, INC.Aug 4, 2023 to Jan 30, 20266
  • INSIGNIA SYSTEMS INC/MNSep 10, 1996 to Jul 31, 20236

Timeline

  1. Sep 21, 20268-K Results of operations63
  2. May 13, 20268-K Results of operations64
  3. Apr 17, 20268-K Entered a material agreement; New debt or obligation65
  4. Apr 3, 20268-K Regulation FD disclosure66
  5. Feb 13, 20268-K Results of operations67
  6. Jan 30, 20268-K Bylaws or fiscal year changed; Other events68
  7. Jan 23, 20268-K Entered a material agreement; New debt or obligation; Other events69
  8. Nov 20, 20258-K Bylaws or fiscal year changed; Shareholder vote70
  9. Nov 10, 20258-K Results of operations71
  10. Sep 18, 20258-K Entered a material agreement; New debt or obligation72
  11. Aug 28, 20258-K Results of operations73
  12. May 13, 20258-K Results of operations74
  13. Jul 2, 2024New chief executive Mark Jundt becomes CEO20
  14. Jul 2, 2024New chief executive Daniel C. Philp becomes CEO19
  15. Mar 4, 2024New chief executive Werner F. Jansen becomes CEO18
  16. May 10, 2016New chief executive Kristine A. Glancy becomes CEO21
  17. Aug 22, 2013New chief executive Glen Dall becomes CEO22
  18. Mar 6, 2006New chief executive Scott Drill becomes CEO23
  19. Mar 18, 1993Went public Listed on NASDAQ1
  20. 1990Founded Founded1

Calendar

Coming up

  1. Nov 9, 2026Reports results for the quarter ending Sep/202675

When it reported results

  1. Sep 21, 2026Reported quarterly or annual results63
  2. May 13, 2026Reported quarterly or annual results64
  3. Feb 13, 2026Reported quarterly or annual results67
  4. Nov 10, 2025Reported quarterly or annual results71
  5. Aug 28, 2025Reported quarterly or annual results73
  6. May 13, 2025Reported quarterly or annual results74
  7. Mar 27, 2025Reported quarterly or annual results76
  8. Nov 19, 2024Reported quarterly or annual results77

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

220 filings to the SEC since October 2021: 8 annual reports, 14 quarterly reports, 47 major events, 107 insider forms, 15 large holders, 29 other. The latest 20:

  1. Oct 9, 2026ARS EDGAR
  2. Oct 9, 2026DEFA14A EDGAR
  3. Oct 9, 2026DEF 14A EDGAR
  4. Sep 21, 202610-K EDGAR
  5. Sep 21, 20268-K EDGAR
  6. Jul 7, 20264 EDGAR
  7. May 13, 202610-Q EDGAR
  8. May 13, 20268-K EDGAR
  9. May 7, 2026SCHEDULE 13G/A EDGAR
  10. Apr 17, 20268-K EDGAR
  11. Apr 6, 20264 EDGAR
  12. Apr 6, 20264 EDGAR
  13. Apr 6, 20264 EDGAR
  14. Apr 6, 20264 EDGAR
  15. Apr 6, 2026SCHEDULE 13G/A EDGAR
  16. Apr 6, 2026SCHEDULE 13D/A EDGAR
  17. Apr 3, 20268-K EDGAR
  18. Mar 27, 2026424B3 EDGAR
  19. Mar 6, 2026SCHEDULE 13G/A EDGAR
  20. Feb 18, 2026EFFECT EDGAR

The 220 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 21, 2024Philp Daniel C.Co-CEOBuy32,000$4.32$138.2KForm 4
Nov 21, 2024Jundt MarkCo-CEOBuy1,100$4.26$4.7KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Morgan Stanley257,753$925.3K0.0%+138,543
Vanguard Capital Management LLC29,185$104.8K0.0%No change
Mercer Global Advisors Inc /adv23,700$85.1K0.0%New
Geode Capital Management, LLC21,396$76.8K0.0%+1,399
Susquehanna International Group, Llp15,146$54.4K0.0%New
Vanguard Fiduciary Trust Co13,657$49.0K0.0%No change
BlackRock, Inc.12,256$44.0K0.0%No change
UBS Group AG3,576$12.8K0.0%+3
Osaic Holdings, Inc.700$2.5K0.0%−1,500
Barclays PLC146$5240.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Insignia Systems, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBLOOMIA HOLDINGS, INC.2
  • CIK0000875355
  • Employer ID (EIN)41-165630817
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company17
  • Incorporated inDelaware17
  • Fiscal year endsJune 302
  • Industry code (SIC)0100 Agricultural Production-Crops2
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance2
  • Business address5000 West 36Th Street, Suite 220, Minneapolis, MN 554162
  • Phone76339262002
  • Shares outstanding4,830,965 shares as of Sep 15, 202617
  • Public float$3.5M as of Dec 31, 202517
  • AuditorBoulay PLLP, Minneapolis, Minnesota PCAOB ID 542; no auditor attestation of internal control over financial reporting17
  • On EDGAR sinceAug 2, 19962
  • Filings1,290 in all: 4 (560), 8-K (270), 10-Q (90), SC 13G/A (42), 3 (41), SC 13D/A (41), DEF 14A (30), 10-K (28)2
    All 51 form types

    S-8 (22), DEFA14A (13), 5 (12), SC 13G (12), 10-K/A (9), 10-Q/A (9), 4/A (9), SD (8), UPLOAD (8), CORRESP (7), S-3 (7), SC 13D (6), 424B3 (5), 8-K/A (5), PRE 14A (5), CT ORDER (4), DFAN14A (4), NT 10-Q (4), SC TO-I/A (4), ARS (3), EFFECT (3), SCHEDULE 13D/A (3), SCHEDULE 13G/A (3), 10-K405 (2), S-3/A (2), SCHEDULE 13G (2), 10-K405/A (1), 10-KT (1), 424B4 (1), 5/A (1), 8-A12B (1), DEFM14A (1), DEFN14A (1), DEFR14A (1), PREM14A (1), PREN14A (1), PRER14A (1), REGDEX (1), RW (1), S-1 (1), S-1/A (1), S-8 POS (1), SC TO-I (1)

  • Latest filingsAnnual report (10-K) Sep 21, 2026
    Quarterly report (10-Q) May 13, 2026
    Proxy statement (DEF 14A) Oct 9, 2026
    Latest 8-K (8-K) Sep 21, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.01 par valueTULPNasdaq

From the cover page of the 10-K filed Sep 21, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks Insignia Systems, Inc. names in Item 1A of its 10-K filed Sep 21, 2026: 32 risks under these headings, as written.17

  • RISKS RELATING TO OUR BUSINESS AND OPERATIONS
  • We face competition and cannot guarantee our continued ability to compete effectively.
  • Our revenue is highly concentrated among a small number of customers.
  • Our profit is highly dependent on the price of Dutch tulip bulbs which are subject to price changes, tariffs and the impact of exchange rates.
  • We may be unable to prevent our competitors from benefiting from the expertise of our former executives.
  • Our recently completed rights offering may limit our ability to use some or all of our net operating loss carryforwards in the future.
  • Certain significant stockholders may exert a degree of control in a manner that conflicts with the interests of other stockholders.
  • RISKS RELATING TO ECONOMY AND MARKET CONDITIONS
  • We are subject to changes in interest rates.
  • Our net sales and earnings have been and could continue to be adversely affected by economic conditions and outlook in the markets in which we conduct business.
  • We have committed to significant bulb purchases.
  • Our use of foreign currency contracts to manage exposure to fluctuations in the Euro exchange rate may not be effective and could result in losses.
The other 22 risks
  • STRATEGIC RISKS
  • Our results are highly dependent on Bloomia’s success.
  • We may not generate enough cash or secure enough capital to execute our business plans.
  • OPERATIONAL RISKS
  • Restrictions in the Amended Credit Agreement could adversely affect the Bloomia business, financial condition, and results of operations.
  • The Amended Credit Agreement restricts Tulp 24.1’s ability to make distributions to Bloomia Holdings.
  • We may not be able to comply with our debt covenants.
  • The Company’s success depends on its key personnel.
  • If we fail to establish and maintain effective internal control over financial reporting, then we may not be able to accurately or timely report our financial condition or results of operations, which may adversely affect our business and the market price of our common stock.
  • Bloomia’s international operations involve additional market and operational risks, and failure to manage these risks may adversely affect our business and operating results.
  • Exchange rate fluctuations between the U.S. dollar and the Euro and other non-U.S. currencies have and may continue to negatively affect the earnings of our operations.
  • Failure to comply with the U.S. Foreign Corrupt Practices Act or other applicable anti-corruption legislation could result in fines, criminal penalties, and an adverse effect on our business.
  • Compliance with employment laws may adversely affect Bloomia’s business.
  • Through Bloomia, we are subject to risks inherent in the operation of an agricultural business.
  • Energy and water price increases could adversely impact our profit margins.
  • Inclement weather and other disruptions to the transportation network could adversely impact our distribution system and demand for our products.
  • TECHNOLOGY AND CYBERSECURITY RISKS
  • We rely on our management information systems for inventory management, distribution, and other key functions. If our information systems fail to adequately perform these functions, or if we experience an interruption in their operation, our business and operating results could be adversely affected.
  • RISKS RELATED TO AN INVESTMENT IN THE COMPANY
  • Our results of operations have been and may be subject to significant fluctuations.
  • Investment in our stock could result in fluctuating returns.
  • We may need to raise additional capital, which might not be available or might be available only on terms unfavorable to us or our investors.
  • We may be required to recognize impairment charges that could materially affect our results of operations.
  • Risks related to our plan to use proceeds from the rights offering to settle debt at a discount.
  • Certain significant stockholders of the Company may exert a degree of control in a manner that conflicts with the interests of other stockholders.
  • We could be deemed to have been a “shell company” after completion of the August 2023 asset sale and, as such, we and our stockholders could be restricted in reliance on certain rules or forms.

Legal proceedings

A description of our legal proceedings, if any, is contained in Note 15 to the consolidated financial statements appearing in Part II, Item 8 of this Annual Report on Form 10-K, incorporated herein by reference.

The opening of Item 3, Legal Proceedings.17

Sources

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