Broadway Financial ( (BYFC) ) has released a notification of late filing.
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Broadway Financial Corporation has announced a delay in filing its Form 10-Q (Quarter Report) for the financial period ending March 31, 2025. The delay is primarily due to the need for additional time to evaluate a Securities Purchase Option Agreement related to its Series C Preferred Stock, which involves complex valuation criteria. The company anticipates filing the delayed report within five calendar days following the original due date. Financially, Broadway Financial expects a significant change in its results, projecting a net loss of $1.9 million for the quarter, largely due to a $1.9 million loss from wire fraud. The company is actively working on compliance and the notification was signed by Zack Ibrahim, Executive Vice President and Chief Financial Officer.
Spark’s Take on BYFC Stock
According to Spark, TipRanks’ AI Analyst, BYFC is a Neutral.
Broadway Financial’s overall stock score is moderate. The company shows stability in financial management with improved leverage, but faces challenges in profitability and valuation. Technical analysis does not indicate strong momentum, and while the board appointment is positive for governance, it does not significantly alter stock performance dynamics.
To see Spark’s full report on BYFC stock, click here.
More about Broadway Financial
Average Trading Volume: 6,389
Technical Sentiment Signal: Sell
Current Market Cap: $59.54M
For a thorough assessment of BYFC stock, go to TipRanks’ Stock Analysis page.