Scott Beck has long hoped the faith-based tech company he founded in 2013 would help churches and other Christian groups harness technology to spread God’s word and help save the world.
More than $400 million in losses and 13 years later, that dream faces a critical juncture.
Leaders at Gloo Holdings Inc. hope a stock sale on Friday (July 10), will bring in more than $20 million to the faith-based company to help keep it going and make it a kind of one-stop shop for outsourcing church services.
But a filing with the Securities and Exchange Commission ahead of a proposed stock offering for Gloo Holdings Inc. shows the company, headquartered in Boulder, Colorado, faces significant challenges, having lost more than $240 million in fiscal years 2024 and 2025.
The company has also reported a total deficit of $438 million since its founding in 2013, as of last summer.
Gloo’s “recurring operating losses, negative cash flows, limited liquid resources, and dependence on external financing” have left its future in doubt, according to the filing.
Gloo bets on growth despite losses
“Because it is not possible at this time to predict the outcome of future equity placements or additional borrowings, substantial doubt remains regarding our ability to continue as a going concern during the following year,” according to the SEC filing.
Gloo’s leaders, including CEO Beck, a former Blockbuster and Boston Market executive, and Pat Gelsinger, former Intel CEO and Gloo’s executive chair and head of technology, hope to sell seven million shares in the upcoming stock offering. Company leaders have offered to buy $6 million in stock, according to a news release. As of April, the company had $33 million in cash, while continuing to run deficits.
But Beck told RNS in an interview earlier this year the company has finally reached critical mass. About 140,000 churches and ministry leaders are signed up for its services, which include technology, marketing, and fundraising products.
Gloo has also signed contracts to provide tech services and access to what he called “network capability providers” for major Christian nonprofits like Wycliffe Bible Translators and the American Bible Society.
“We have one side paying us millions of dollars a year,” he said. “We have the other side paying us, you know, thousands a year. And those two sides have now really exploded in terms of their growth.”
The company’s leaders predict the company will turn a profit by the end of 2026. During the first quarter, Gloo brought in $41.5 million—more than twice the revenue in the first quarter of 2025—and the company’s leaders have predicted revenue will top $195 million this year. While the company still lost $17 million in the first quarter of 2026, that is an improvement from the first quarter of 2025, when the company lost $27 million.
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EDITOR’S NOTE — This story was written by Bob Smietana and originally published by Religion News Service.
