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RADIANT LOGISTICS ANNOUNCES RESULTS FOR THE THIRD FISCAL QUARTER ENDED MARCH 31, 2026May 11, 2026 4:05 PM
PR Newswire (US) Resilient performance amid a sharply divergent freight environment; Advancing Navegate platform and progressing 'Ray,' our first AI agent, to drive operational excellence and long-term growthRENTON, Wash., May 11, 2026 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE American: RLGT), a technology-enabled global transportation and value-added logistics services company, today reported financial results for the three and nine months ended March 31, 2026.Financial Highlights – Three Months Ended March 31, 2026Revenues of $214.1 million for the third fiscal quarter ended March 31, 2026, up $0.1 million or less than 0.1%, compared to revenues of $214.0 million for the comparable prior year period.Gross profit of $53.9 million for the third fiscal quarter ended March 31, 2026, down $0.6 million or 1.1%, compared to gross profit of $54.5 million for the comparable prior year period.Adjusted gross profit, a non-GAAP financial measure, of $56.3 million for the third fiscal quarter ended March 31, 2026, down $1.9 million or 3.3%, compared to adjusted gross profit of $58.2 million for the comparable prior year period.Net income attributable to Radiant Logistics, Inc. of $4.7 million, or $0.10 per basic and fully diluted share for the third fiscal quarter ended March 31, 2026, compared to $2.5 million, or $0.05 per basic and fully diluted share for the comparable prior year period.Adjusted net income, a non-GAAP financial measure, of $5.3 million, or $0.11 per basic and fully diluted share for the third fiscal quarter ended March 31, 2026, down $1.6 million or 23.2%, compared to adjusted net income of $6.9 million, or $0.15 per basic and $0.14 per fully diluted share for the comparable prior year period. Adjusted net income is calculated by applying a normalized tax rate of 24.5% and excludes costs unrelated to our core operations.Adjusted EBITDA, a non-GAAP financial measure, of $7.8 million for the third fiscal quarter ended March 31, 2026, down $1.6 million or 17.0%, compared to adjusted EBITDA of $9.4 million for the comparable prior year period.Adjusted EBITDA margin (adjusted EBITDA expressed as a percentage of adjusted gross profit), a non-GAAP financial measure, of 13.8% down 240 basis points, for the third fiscal quarter ended March 31, 2026, compared to adjusted EBITDA margin of 16.2% for the comparable prior year period.Stock Buy-BackWe purchased 585,050 shares of our common stock at an average cost of $5.97 per share for an aggregate cost of $3.5 million during the nine months ended March 31, 2026.As of March 31, 2026, the Company had 46,831,666 shares outstanding.CEO Bohn Crain Comments on Results"We are pleased to report another quarter of solid financial results delivering $7.8 million in adjusted EBITDA for our third fiscal quarter ended March 31, 2026, in what is our seasonally slowest quarter of the year," said Bohn Crain, Founder and CEO of Radiant Logistics. "The global logistics landscape during our third fiscal quarter was marked by sharply divergent dynamics across domestic and international markets – each presenting its own distinct set of challenges and opportunities – and we believe the resilience of our results reflects both the diversity of our service offering and the quality of our network.On the domestic side, we are seeing encouraging signs of a supply-driven recovery in the North American truckload and intermodal markets, where capacity has been steadily exiting the industry through a combination of carrier attrition, tightening driver availability, and the structural normalization of a fleet that expanded aggressively in prior years. With spot rates, tender rejections, and other key cycle indicators moving meaningfully higher, and driver headcount at multi-year lows, the domestic freight market appears to be approaching a genuine inflection point. While these market trends are not fully reflected in our results for the March quarter, we view these developments as constructive for our business going forward as these improving market conditions should translate into better opportunities for our domestic operations.The international picture has been considerably more challenging and, in some respects, unprecedented in its complexity. Global trade flows have been under sustained pressure from two distinct but compounding forces. The first is the ongoing transformation of the global tariff landscape. U.S. trade policy has fundamentally redrawn the economics of cross-border commerce – with a universal 10% import surcharge currently in effect covering more than $1 trillion in goods, country-specific tariff investigations underway targeting dozens of trading partners for industrial overcapacity and labor practices, and critical policy decisions on permanent tariff structures expected before July. The resulting uncertainty has materially altered sourcing strategies, disrupted established trade lanes – most visibly the China-to-U.S. corridor, which has been one of the most consequential freight arteries in the global economy – and prompted widespread supply chain restructuring as importers and manufacturers accelerate nearshoring and diversification initiatives. For international freight forwarders, this environment creates both headwinds and opportunity: near-term volumes on affected lanes have softened, but the complexity of navigating new trade routes, customs regimes, and compliance requirements increases the premium on experienced, technology-enabled partners who can guide customers through the transition.The second force is the physical disruption to global shipping routes stemming from the conflict in the Middle East. The effective closure of the Strait of Hormuz following strikes on Iran in late February – the world's single most critical maritime chokepoint, through which a significant share of global energy and container trade flows – combined with ongoing Houthi activity that has kept the Suez Canal closed to major carriers, has fundamentally rerouted global ocean freight, extended transit times materially, driven fuel costs sharply higher, and triggered a significant surge in air freight demand as time-sensitive shippers seek alternatives. These twin disruptions to global trade – one policy-driven, one conflict-driven – have created a uniquely challenging environment for international freight markets. At the same time, they reinforce precisely why customers need a logistics partner like Radiant: one with the global network, the technology platform, and the operational expertise to help them navigate volatility, find capacity, and keep supply chains moving when the world's trade infrastructure is under stress.Looking beyond the near-term environment, we remain highly encouraged by the strategic progress we are making. Our Navegate global trade management and collaboration platform continues to gain traction in the marketplace, offering customers enhanced supply chain visibility, routing intelligence, and cost optimization – capabilities that are especially valued during periods of market dislocation like those we are currently experiencing. With deployment measured in weeks rather than months or years, Navegate delivers speed-to-value that we believe is a clear competitive differentiator as we introduce it to current and prospective customers in the quarters ahead.We also continue to make good progress with our recently announced launch of 'Ray,' our first AI-powered agent. In addition to our initial efforts focused on streamlining international quote administration across our global agent network, we are exploring how best to further automate key workflows across our domestic and international shipment life-cycles while enabling faster response times and higher service quality for our customers. We look forward to expanding Ray's capabilities and introducing additional AI-powered solutions as we continue our digital transformation journey.Finally, our financial position remains a source of significant strength. We are essentially debt free on a net basis relative to our $200 million credit facility, giving us substantial flexibility to pursue the combination of strategic operating partner conversions, synergistic tuck-in acquisitions, and share repurchases that have long defined our approach to capital allocation. With our diversified platform, strong balance sheet, and growing suite of technology capabilities, we believe Radiant is well-positioned to emerge from this period of market turbulence as a stronger and more competitive enterprise."Third Fiscal Quarter Ended March 31, 2026 – Financial Results For the three months ended March 31, 2026, Radiant reported net income attributable to Radiant Logistics, Inc. of $4.7 million on $214.1 million of revenues, or $0.10 per basic and fully diluted share. For the three months ended March 31, 2025, Radiant reported net income attributable to Radiant Logistics, Inc. of $2.5 million on $214.0 million of revenues, or $0.05 per basic and fully diluted share.For the three months ended March 31, 2026, Radiant reported adjusted net income, a non-GAAP financial measure, of $5.3 million, or $0.11 per basic and fully diluted share. For the three months ended March 31, 2025, Radiant reported adjusted net income of $6.9 million, or $0.15 per basic and $0.14 per fully diluted share.For the three months ended March 31, 2026, Radiant reported adjusted EBITDA, a non-GAAP financial measure, of $7.8 million, compared to $9.4 million for the comparable prior year period.Nine Months Ended March 31, 2026 – Financial ResultsFor the nine months ended March 31, 2026, the Company reported net income attributable to Radiant Logistics, Inc. of $11.3 million on $672.9 million of revenues, or $0.24 per basic and $0.23 per fully diluted share. For the nine months ended March 31, 2025, the Company reported net income attributable to Radiant Logistics, Inc. of $12.4 million on $682.1 million of revenues, or $0.26 per basic and $0.25 per fully diluted share.For the Nine Months Ended March 31, 2026, the Company reported adjusted net income, a non-GAAP financial measure, of $17.9 million, or $0.38 per basic and $0.37 per fully diluted share. For the nine months ended March 31, 2025, the Company reported adjusted net income of $25.5 million, or $0.54 per basic and $0.52 per fully diluted share. Normalizing these results to exclude the $1.3 million First Brands adjustment, adjusted net income would have been $19.2 million for the nine months ended March 31, 2026.For the nine months ended March 31, 2026, the Company reported adjusted EBITDA, a non-GAAP financial measure, of $26.3 million, compared to $30.9 million for the comparable prior year period. Normalizing these results to exclude the $1.3 million First Brands adjustment, adjusted EBITDA would have been $27.6 million for the nine months ended March 31, 2026.Earnings Call and Webcast Access InformationRadiant Logistics, Inc. will host a conference call on Monday, May 11, 2026 at 4:30 PM Eastern to discuss the contents of this release. The conference call is open to all interested parties, including individual investors and press. Bohn Crain, Founder and CEO will host the call.Conference Call DetailsDATE/TIME:Monday, May 11, 2026 at 4:30 PM EasternDIAL-INUS (888) 506-0062; Intl. (973) 528-0011 (Participant Access Code: 939200)REPLAYMay 12, 2026 at 9:30 AM Eastern to May 25, 2026 at 4:30 PM Eastern, US (877) 481-4010;Intl. (919) 882-2331 (Replay ID number: 53989)Webcast Details This call is also being webcast and may be accessed via Radiant's web site at www.radiantdelivers.com or at https://www.webcaster5.com/Webcast/Page/2191/53989About Radiant Logistics (NYSE American: RLGT) Radiant Logistics, Inc. (www.radiantdelivers.com) operates as a third-party logistics company, providing technology-enabled global transportation and value-added logistics services primarily to customers in the United States, Canada, and Mexico. Through its comprehensive service offerings, Radiant provides domestic and international freight forwarding and freight brokerage services to a diversified account base including manufacturers, distributors and retailers, which it supports from an extensive network of company and agent-owned offices throughout North America and other key markets around the world. Radiant's value-added logistics services include warehouse and distribution, customs brokerage, order fulfillment, inventory management and technology services.This press release contains "forward-looking statements" within the meaning set forth in United States securities laws and regulations – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business, financial performance and financial condition, and often contain words such as "anticipate," "believe," "estimates," "expect," "future," "intend," "may," "plan," "see," "seek," "strategy," or "will" or the negative thereof or any variation thereon or similar terminology or expressions. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. We have developed our forward-looking statements based on management's beliefs and assumptions, which in turn rely upon information available to them at the time such statements were made. Such forward-looking statements reflect our current perspectives on our business, future performance, existing trends and information as of the date of this report. These include, but are not limited to, our beliefs about future revenue and expense levels, growth rates, prospects related to our strategic initiatives and business strategies, along with express or implied assumptions about, among other things: our continued relationships with our strategic operating partners; the performance of our historic business, as well as the businesses we have recently acquired, at levels consistent with recent trends and reflective of the synergies we believe will be available to us as a result of such acquisitions; our ability to successfully integrate our recently acquired businesses; our ability to locate suitable acquisition opportunities and secure the financing necessary to complete such acquisitions; transportation costs remaining in line with recent levels and expected trends; our ability to mitigate, to the best extent possible, our dependence on current management and certain larger strategic operating partners; our compliance with financial and other covenants under our indebtedness; the absence of any adverse laws or governmental regulations affecting the transportation industry in general, and our operations in particular; our ability to continue to respond to macroeconomic factors that have recently had a negative effect on worldwide freight markets; the impact of any health pandemic or environmental event on our operations and financial results; continued disruptions in the global supply chain; higher inflationary pressures particularly surrounding the costs of fuel, labor, and other components of our operations; potential adverse legal, reputational and financial effects on the Company resulting from prior or future cyber incidents and the effectiveness of the Company's business continuity plans in response to cyber incidents; the commercial, reputational and regulatory risks to our business that may arise as a consequence of our prior inability to remediate a material weakness in our internal control over financial reporting, and the further risks that may arise should we be unable to maintain an effective system of disclosure controls and internal control over financial reporting in the future; and such other factors that may be identified from time to time in our U.S Securities and Exchange Commission ("SEC") filings and other public announcements including those set forth under the caption "Risk Factors" in Part 1 Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025. All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. Readers are cautioned not to place undue reliance on our forward-looking statements, as they speak only as of the date made. We disclaim any obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. RADIANT LOGISTICS, INC. Consolidated Balance Sheets (unaudited)
March 31,
June 30,
(In thousands, except share and per share data)2026
2025
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents$39,688
$22,942
Accounts receivable, net of allowance of $3,904 and $2,128, respectively
135,317
134,911
Contract assets
6,170
6,904
Income tax receivable
92
2,194
Prepaid expenses and other current assets
7,995
12,299
Total current assets
189,262
179,250
Property, technology, and equipment, net
21,191
23,489
Goodwill
120,858
117,637
Intangible assets, net
46,443
49,123
Operating lease right-of-use assets
51,562
55,066
Deposits and other assets
1,895
2,209
Total other long-term assets
220,758
224,035
Total assets$431,211
$426,774
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable$73,560
$74,411
Operating partner commissions payable
10,878
10,541
Accrued expenses
11,916
10,637
Current portion of operating lease liabilities
13,602
12,741
Current portion of finance lease liabilities
252
282
Current portion of contingent consideration
8,190
6,050
Other current liabilities
676
483
Total current liabilities
119,074
115,145
Notes payable
25,000
20,000
Operating lease liabilities, net of current portion
44,156
49,245
Finance lease liabilities, net of current portion
783
969
Contingent consideration, net of current portion
4,010
13,300
Deferred tax liabilities
2,519
1,782
Other long-term liabilities
10
248
Total long-term liabilities
76,478
85,544
Total liabilities
195,552
200,689
Redeemable noncontrolling interest
1,210
—
Equity:
Common stock, $0.001 par value, 100,000,000 shares authorized; 52,597,739 and
52,324,201 shares issued, and 46,831,666 and 47,143,178 shares outstanding,
respectively
34
34
Additional paid-in capital
111,949
110,588
Treasury stock, at cost, 5,766,073 and 5,181,023 shares, respectively
(35,457)
(31,964)
Retained earnings
161,838
150,569
Accumulated other comprehensive loss
(4,026)
(3,211)
Total Radiant Logistics, Inc. stockholders' equity
234,338
226,016
Noncontrolling interest
111
69
Total equity
234,449
226,085
Total liabilities and equity$431,211
$426,774
RADIANT LOGISTICS, INC. Consolidated Statements of Comprehensive Income(unaudited)
Three Months Ended March 31,
Nine Months Ended March 31,
(In thousands, except share and per share data)2026
2025
2026
2025
Revenues$214,135
$214,007
$672,920
$682,116
Operating expenses:
Cost of transportation and other services
157,819
155,832
493,690
503,082
Operating partner commissions
19,136
19,256
59,439
57,348
Personnel costs
21,469
20,450
65,629
59,627
Selling, general and administrative expenses
9,252
9,949
30,935
32,270
Depreciation and amortization
3,614
4,936
10,706
14,779
Change in fair value of contingent consideration
(3,700)
250
(3,590)
(850)
Total operating expenses
207,590
210,673
656,809
666,256
Income from operations
6,545
3,334
16,111
15,860
Other income (expense):
Interest income
56
292
136
1,124
Interest expense
(564)
(303)
(1,794)
(851)
Foreign currency transaction gain
319
96
203
215
Change in fair value of interest rate swap contracts
—
(291)
—
(1,032)
Other
88
17
347
1,070
Total other income (expense)
(101)
(189)
(1,108)
526
Income before income taxes
6,444
3,145
15,003
16,386
Income tax expense
(1,876)
(573)
(3,940)
(3,881)
Net income
4,568
2,572
11,063
12,505
Net income (loss) attributable to noncontrolling interest
103
(31)
206
(121)
Net income attributable to Radiant Logistics, Inc.$4,671
$2,541
$11,269
$12,384
Other Comprehensive income attributable to Radiant Logistics, Inc.:
Foreign currency translation gain (loss)
(722)
9
(815)
(2,262)
Comprehensive income attributable to noncontrolling interest
108
—
160
—
Comprehensive income attributable to Radiant Logistics, Inc.$3,954
$2,581
$10,408
$10,243
Income per share:
Basic$0.10
$0.05
$0.24
$0.26
Diluted$0.10
$0.05
$0.23
$0.25
Weighted average common shares outstanding:
Basic
46,829,219
47,073,339
46,970,474
46,911,231
Diluted
48,541,491
48,666,557
48,649,453
48,743,999
Reconciliation of Non-GAAP Measures
RADIANT LOGISTICS, INC.Reconciliation of Gross Profit to Adjusted Gross Profit, Net Income Attributable to Radiant Logistics, Inc.
to Adjusted Net Income, EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin
(unaudited)As used in this report adjusted gross profit, adjusted net income, EBITDA, adjusted EBITDA, and adjusted EBITDA margin are not measures of financial performance or liquidity under United States Generally Accepted Accounting Principles ("GAAP"). Adjusted gross profit, adjusted net income, EBITDA, adjusted EBITDA, and adjusted EBITDA margin are presented herein because they are important metrics used by management to evaluate and understand the performance of the ongoing operations of Radiant's business. For adjusted net income, management uses a 24.5% tax rate to calculate the provision for income taxes to normalize Radiant's tax rate to that of its competitors and to compare Radiant's reporting periods with different effective tax rates. In addition, in arriving at adjusted net income, the Company adjusts for certain non-cash charges and significant items that are not part of regular operating activities. These adjustments include income taxes, depreciation and amortization, costs unrelated to our core operations, and other non-cash charges.We commonly refer to the term "adjusted gross profit" when commenting about our Company and the results of operations. Adjusted gross profit is a non-GAAP measure calculated as revenues less directly related operations and expenses attributed to the Company's services. Adjusted gross profit is calculated as GAAP gross profit exclusive of depreciation and amortization, which are reported separately. We believe adjusted gross profit is a better measurement than are total revenues when analyzing and discussing the effectiveness of our business and is used as a portion of a key metric the Company uses to discuss its progress.EBITDA is a non-GAAP financial measure of income and does not include the effects of interest, income taxes, and the "non-cash" effects of depreciation and amortization on long-term assets. Companies have some discretion as to which elements of depreciation and amortization are excluded in the EBITDA calculation. We exclude all depreciation charges related to property, technology, and equipment and all amortization charges (including amortization of leasehold improvements). We then further adjust EBITDA to exclude share-based compensation, costs unrelated to our core operations (primarily acquisition and litigation costs), allocation of earnings attributable to noncontrolling interests in subsidiaries, and other non-cash charges. While management considers EBITDA and adjusted EBITDA useful in analyzing our results, it is not intended to replace any presentation included in our consolidated financial statements.We believe that these non-GAAP financial measures, as presented, represent a useful method of assessing the performance of our operating activities, as they reflect our earnings trends without the impact of certain non-cash charges and other non-recurring charges. These non-GAAP financial measures are intended to supplement the GAAP financial information by providing additional insight regarding results of operations to allow a comparison to other companies, many of whom use similar non-GAAP financial measures to supplement their GAAP results. However, these non-GAAP financial measures will not be defined in the same manner by all companies and may not be comparable to other companies. Adjusted gross profit, adjusted net income, EBITDA, adjusted EBITDA, and adjusted EBITDA margin should not be considered in isolation or as a substitute for any of the consolidated statements of comprehensive income prepared in accordance with GAAP, or as an indication of Radiant's operating performance or liquidity.(In thousands)Three Months Ended March 31,
Nine Months Ended March 31,
Reconciliation of adjusted gross profit to GAAP gross profit 2026
2025
2026
2025
Revenues$214,135
$214,007
$672,920
$682,116
Cost of transportation and other services (exclusive of
depreciation and amortization, shown separately below)
(157,819)
(155,832)
(493,690)
(503,082)
Depreciation and amortization
(2,412)
(3,632)
(7,196)
(10,827)
GAAP gross profit$53,904
$54,543
$172,034
$168,207
Depreciation and amortization
2,412
3,632
7,196
10,827
Adjusted gross profit$56,316
$58,175
$179,230
$179,034
GAAP gross profit percentage
25.2%
25.5%
25.6%
24.7%Adjusted gross profit percentage
26.3%
27.2%
26.6%
26.2%
(In thousands)Three Months Ended March 31,
Nine Months Ended March 31,
Reconciliation of GAAP net income to adjusted EBITDA2026
2025
2026
2025
Net income attributable to Radiant Logistics, Inc.$4,671
$2,541
$11,269
$12,384
Income tax expense
1,876
573
3,940
3,881
Depreciation and amortization (1)
3,614
4,936
10,706
14,893
Net interest expense
508
11
1,658
(273)
Share-based compensation
577
470
1,509
(1,180)
Change in fair value of contingent consideration
(3,700)
250
(3,590)
(850)
Lease termination costs
3
210
165
1,376
Change in fair value of interest rate swap contracts
—
291
—
1,032
Other (2)
202
116
665
(397)
Adjusted EBITDA
7,751
9,398
26,322
30,866
Adjusted EBITDA as a % of adjusted gross profit (3)
13.8%
16.2%
14.7%
17.2%
(1)Depreciation and amortization for the purposes of calculating adjusted EBITDA, a non-GAAP financial measure, includes depreciation expenses recognized on certain computer software as a service.(2)Other includes costs unrelated to our core operations (primarily acquisition and litigation costs), and other non-cash charges.(3)Adjusted gross profit is revenues less the cost of transportation and other services.
(In thousands, except share and per share data)Three Months Ended March 31,
Nine Months Ended March 31,
Reconciliation of GAAP net income to adjusted net income 2026
2025
2026
2025
GAAP net income attributable to Radiant Logistics, Inc.$4,671
$2,541
$11,269
$12,384
Adjustments to net income:
Income tax expense
1,876
573
3,940
3,881
Depreciation and amortization
3,614
4,936
10,706
14,779
Change in fair value of contingent consideration
(3,700)
250
(3,590)
(850)
Lease termination costs
3
210
165
1,376
Change in fair value of interest rate swap contracts
—
291
—
1,032
Other
605
312
1,193
1,118
Adjusted net income before income taxes
7,069
9,113
23,683
33,720
Provision for income taxes at 24.5%
(1,732)
(2,232)
(5,801)
(8,260)
Adjusted net income$5,337
$6,881
$17,882
$25,460
Adjusted net income per common share:
Basic$0.11
$0.15
$0.38
$0.54
Diluted$0.11
$0.14
$0.37
$0.52
Weighted average common shares outstanding:
Basic
46,829,219
47,073,339
46,970,474
46,911,231
Diluted
48,541,491
48,666,557
48,649,453
48,743,999
View original content to download multimedia:https://www.prnewswire.com/news-releases/radiant-logistics-announces-results-for-the-third-fiscal-quarter-ended-march-31-2026-302768567.htmlSOURCE Radiant Logistics, Inc. Original: RADIANT LOGISTICS ANNOUNCES RESULTS FOR THE THIRD FISCAL QUARTER ENDED MARCH 31, 2026
US Market News
4月前
RADIANT LOGISTICS ANNOUNCES RESULTS FOR THE SECOND FISCAL QUARTER ENDED DECEMBER 31, 2025February 9, 2026 4:28 PM
PR Newswire (US)
Well positioned with low leverage and acquisition and organic growth drivers;
Advancing digital transformation with Navegate platform; and
Launch of Company's first AI Agent, "Ray", to streamline international operationsRENTON, Wash., Feb. 9, 2026 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE American: RLGT), a technology-enabled global transportation and value-added logistics services company, today reported financial results for the three and six months ended December 31, 2025.Financial Highlights – Three Months Ended December 31, 2025Revenues of $232.1 million for the second fiscal quarter ended December 31, 2025, down $32.4 million or 12.2%, compared to revenues of $264.5 million for the comparable prior year period. The comparable year ago period included $64.8 million in revenues for air charters to bring approximately 8 million units of IV fluid to the U.S. as a result of the national shortages resulting from Hurricane Milton (the "Milton Project"). Excluding this $64.8 million in revenues from the Milton Project in the comparable year ago period, revenues for the second fiscal quarter ended December 31, 2025, were up $32.4 million or 16.2%, compared to revenues of $199.7 million for the second fiscal quarter ended December 31, 2024.Gross profit of $61.0 million for the second fiscal quarter ended December 31, 2025, up $1.4 million or 2.3%, compared to gross profit of $59.6 million for the comparable prior year period. Excluding $7.0 million in gross profit from the Milton Project in the comparable year ago period, gross profit for the second fiscal quarter ended December 31, 2025, was up $8.4 million or 16.0%, compared to gross profit of $52.6 million for the second fiscal quarter ended December 31, 2024.Adjusted gross profit, a non-GAAP financial measure, of $63.5 million for the second fiscal quarter ended December 31, 2025, up $0.2 million or 0.3%, compared to adjusted gross profit of $63.3 million for the comparable prior year period. Excluding $7.0 million in adjusted gross profit from the Milton Project in the comparable prior year period, adjusted gross profit for the second fiscal quarter ended December 31, 2025, was up $7.2 million or 12.8%, compared to adjusted gross profit of $56.3 million for the second fiscal quarter ended December 31, 2024.Net income attributable to Radiant Logistics, Inc. of $5.3 million, or $0.11 per basic and fully diluted share for the second fiscal quarter ended December 31, 2025, compared to $6.5 million, or $0.14 per basic and $0.13 per fully diluted share for the comparable prior year period.Adjusted net income, a non-GAAP financial measure, of $8.1 million, or $0.17 per basic and fully diluted share for the second fiscal quarter ended December 31, 2025, down $2.6 million or 24.3%, compared to adjusted net income of $10.7 million, or $0.23 per basic and $0.22 per fully diluted share for the comparable prior year period. Excluding $4.5 million in adjusted net income from the Milton Project in the comparable year ago period, adjusted net income for the second fiscal quarter ended December 31, 2025, was up $1.9 million or 30.6%, compared to adjusted net income of $6.2 million for the second fiscal quarter ended December 31, 2024. Adjusted net income is calculated by applying a normalized tax rate of 24.5% and excludes costs unrelated to our core operations.Adjusted EBITDA, a non-GAAP financial measure, of $11.8 million for the second fiscal quarter ended December 31, 2025, down $0.2 million or 1.7%, compared to adjusted EBITDA of $12.0 million for the comparable prior year period. Excluding $5.9 million in adjusted EBITDA from the Milton Project in the comparable year ago period, adjusted EBITDA for the second fiscal quarter ended December 31, 2025, was up $5.7 million or 93.4%, compared to adjusted EBITDA of $6.1 million for the second fiscal quarter ended December 31, 2024.Adjusted EBITDA margin (adjusted EBITDA expressed as a percentage of adjusted gross profit), a non-GAAP financial measure, of 18.6% or 40 basis points, for the second fiscal quarter ended December 31, 2025, compared to adjusted EBITDA margin of 19.0% for the comparable prior year period. Excluding $5.9 million in adjusted EBITDA from the Milton Project in the comparable year ago period, adjusted EBITDA margin for the second fiscal quarter ended December 31, 2025 of 18.6% up 780 basis points when compared to the 10.8% adjusted EBITDA margin for the second fiscal quarter ended December 31, 2024.Stock Buy-BackWe purchased 445,058 shares of our common stock at an average cost of $5.97 per share for an aggregate cost of $2.7 million during the three months ended December 31, 2025.As of December 31, 2025, the Company had 46,826,544 shares outstanding.CEO Bohn Crain Comments on Results"With the benefit of our diversified service offering we delivered another quarter of solid financial results generating $11.8 million in adjusted EBITDA for our second fiscal quarter ended December 31, 2025," said Bohn Crain, Founder and CEO of Radiant Logistics. "The comparable year ago period included $64.8 million in revenues for air charters to bring approximately 8 million units of IV fluid to the U.S. as a result of the national shortages resulting from Hurricane Milton (the "Milton Project"). When excluding $5.9 million in adjusted EBITDA from the Milton Project in the year ago period, adjusted EBITDA increased by $5.7 million or 93.4%, compared to $6.1 million for the second fiscal quarter ended December 31, 2024. This growth breaks down as follows: Same-Store Growth of $3.6 million in our U.S. Operations, $1.4 million in our Canadian Operations, and Acquisition Growth of $0.7 million. Without the lower margin of Milton Project in the current period, our adjusted gross profit margin returned to more normalized levels, improving 340 basis points to 27.3% compared to 23.9% in the year ago period, demonstrating our ability to maintain solid margins even as we navigate a challenging freight market. Importantly, when excluding the impact of Project Milton in the comparable year ago period, our adjusted EBITDA margin expanded by 780 basis points to 18.6%, reflecting our continued focus on operational efficiency and disciplined cost management.And while still very early in our journey, we continue to be encouraged about the prospects of Navegate, our proprietary global trade management and collaboration platform. Navegate represents a meaningful differentiator for us in the marketplace and supports both domestic and international shipments by aggregating and organizing supply-chain data to deliver enhanced visibility, automation and faster decision making. With streamlined deployment measured in weeks – not months or years – our customers can quickly reduce costs, optimize routing and improve buying and routing decisions. We believe this speed to market and ease of deployment represent a clear competitive advantage and that Navegate will serve as a meaningful catalyst for organic growth as we introduce the technology to our current and prospective customers in coming quarters.We are also pleased to announce the launch of 'Ray', our first AI-powered agent, which is initially focused on streamlining the administration of quote requests from our international agents around the world. Ray represents an important step in our ongoing digital transformation journey and complements our Navegate platform by further automating and accelerating key workflows. By leveraging artificial intelligence to handle routine quote administration tasks, we expect Ray to improve response times for our global network of agents, enhance service quality for our customers, and drive additional operational efficiencies across our organization. We look forward to expanding Ray's capabilities and introducing additional AI-powered solutions in the coming quarters."Mr. Crain continued, "As previously discussed, we believe our durable business model, diverse service offering, disciplined approach to capital allocation and low leverage continues to serve us well. We remain virtually debt free (no net debt of as of December 31, 2025) relative to our $200.0 million credit facility and on track with our continued efforts to deliver profitable growth through a combination of organic and acquisition initiatives, while thoughtfully re-levering our balance sheet through a combination of strategic operating partner conversions, synergistic tuck-in acquisitions, and stock buy-backs.. With respect to our stock buy-back program, we acquired another $2.7 million of our stock through the three months ended December 31, 2025. Looking ahead, we expect to stay the course with our balanced approach to capital allocation through a combination of agent station conversions, synergistic tuck-in acquisitions, and stock buy-backs while at the same time looking to invest in incremental sales resources with attention given to our deployment of the Navegate technology."Second Fiscal Quarter Ended December 31, 2025 – Financial Results For the three months ended December 31, 2025, Radiant reported net income attributable to Radiant Logistics, Inc. of $5.3 million on $232.1 million of revenues, or $0.11 per basic and fully diluted share. For the three months ended December 31, 2024, Radiant reported net income attributable to Radiant Logistics, Inc. of $6.5 million on $264.5 million of revenues, or $0.14 per basic and $0.13 per fully diluted share.For the three months ended December 31, 2025, Radiant reported adjusted net income, a non-GAAP financial measure, of $8.1 million, or $0.17 per basic and fully diluted share. For the three months ended December 31, 2024, Radiant reported adjusted net income of $10.7 million, or $0.23 per basic and $0.22 per fully diluted share.For the three months ended December 31, 2025, Radiant reported adjusted EBITDA, a non-GAAP financial measure, of $11.8 million, compared to $12.0 million for the comparable prior year period.Six Months Ended December 31, 2025 – Financial ResultsFor the six months ended December 31, 2025, the Company reported net income attributable to Radiant Logistics, Inc. of $6.6 million on $458.8 million of revenues, or $0.14 per basic and fully diluted share. For the six months ended December 31, 2024, the Company reported net income attributable to Radiant Logistics, Inc. of $9.8 million on $468.1 million of revenues, or $0.21 per basic and $0.20 per fully diluted share.For the Six Months Ended December 31, 2025, the Company reported adjusted net income, a non-GAAP financial measure, of $12.5 million, or $0.27 per basic and $0.26 per fully diluted share. For the six months ended December 31, 2024, the Company reported adjusted net income of $18.6 million, or $0.40 per basic and $0.38 per fully diluted share. Normalizing these results to exclude the $1.3 million First Brands adjustment, adjusted net income would have been $13.5 million for the six months ended December 31, 2025.For the six months ended December 31, 2025, the Company reported adjusted EBITDA, a non-GAAP financial measure, of $18.6 million, compared to $21.5 million for the comparable prior year period. Normalizing these results to exclude the $1.3 million First Brands adjustment, adjusted EBITDA would have been $19.9 million for the six months ended December 31, 2025.Earnings Call and Webcast Access InformationRadiant Logistics, Inc. will host a conference call on Monday, February 9, 2026 at 4:30 PM Eastern to discuss the contents of this release. The conference call is open to all interested parties, including individual investors and press. Bohn Crain, Founder and CEO will host the call.Conference Call DetailsDATE/TIME:Monday, February 9, 2026 at 4:30 PM EasternDIAL-INUS (888) 506-0062; Intl. (973) 528-0011 (Participant Access Code: 209811)REPLAYFebruary 10, 2026 at 9:30 AM Eastern to February 23, 2026 at 4:30 PM Eastern, US (877) 481-4010;Intl. (919) 882-2331 (Replay ID number: 53602)Webcast Details This call is also being webcast and may be accessed via Radiant's web site at www.radiantdelivers.com or at https://www.webcaster5.com/Webcast/Page/2191/53602About Radiant Logistics (NYSE American: RLGT) Radiant Logistics, Inc. (www.radiantdelivers.com) operates as a third-party logistics company, providing technology-enabled global transportation and value-added logistics services primarily to customers in the United States, Canada, and Mexico. Through its comprehensive service offerings, Radiant provides domestic and international freight forwarding and freight brokerage services to a diversified account base including manufacturers, distributors and retailers, which it supports from an extensive network of company and agent-owned offices throughout North America and other key markets around the world. Radiant's value-added logistics services include warehouse and distribution, customs brokerage, order fulfillment, inventory management and technology services.This press release contains "forward-looking statements" within the meaning set forth in United States securities laws and regulations – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business, financial performance and financial condition, and often contain words such as "anticipate," "believe," "estimates," "expect," "future," "intend," "may," "plan," "see," "seek," "strategy," or "will" or the negative thereof or any variation thereon or similar terminology or expressions. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. We have developed our forward-looking statements based on management's beliefs and assumptions, which in turn rely upon information available to them at the time such statements were made. Such forward-looking statements reflect our current perspectives on our business, future performance, existing trends and information as of the date of this report. These include, but are not limited to, our beliefs about future revenue and expense levels, growth rates, prospects related to our strategic initiatives and business strategies, along with express or implied assumptions about, among other things: our continued relationships with our strategic operating partners; the performance of our historic business, as well as the businesses we have recently acquired, at levels consistent with recent trends and reflective of the synergies we believe will be available to us as a result of such acquisitions; our ability to successfully integrate our recently acquired businesses; our ability to locate suitable acquisition opportunities and secure the financing necessary to complete such acquisitions; transportation costs remaining in line with recent levels and expected trends; our ability to mitigate, to the best extent possible, our dependence on current management and certain larger strategic operating partners; our compliance with financial and other covenants under our indebtedness; the absence of any adverse laws or governmental regulations affecting the transportation industry in general, and our operations in particular; our ability to continue to respond to macroeconomic factors that have recently had a negative effect on worldwide freight markets; the impact of any health pandemic or environmental event on our operations and financial results; continued disruptions in the global supply chain; higher inflationary pressures particularly surrounding the costs of fuel, labor, and other components of our operations; potential adverse legal, reputational and financial effects on the Company resulting from prior or future cyber incidents and the effectiveness of the Company's business continuity plans in response to cyber incidents; the commercial, reputational and regulatory risks to our business that may arise as a consequence of our prior inability to remediate a material weakness in our internal control over financial reporting, and the further risks that may arise should we be unable to maintain an effective system of disclosure controls and internal control over financial reporting in the future; and such other factors that may be identified from time to time in our U.S Securities and Exchange Commission ("SEC") filings and other public announcements including those set forth under the caption "Risk Factors" in Part 1 Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025. All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. Readers are cautioned not to place undue reliance on our forward-looking statements, as they speak only as of the date made. We disclaim any obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. RADIANT LOGISTICS, INC. Consolidated Balance Sheets (unaudited)
December 31,
June 30,(In thousands, except share and per share data)2025
2025
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents$31,884
$22,942Accounts receivable, net of allowance of $3,454 and $2,128, respectively
139,947
134,911Contract assets
6,477
6,904Income tax receivable
1,887
2,194Prepaid expenses and other current assets
11,196
12,299Total current assets
191,391
179,250
Property, technology, and equipment, net
21,944
23,489
Goodwill
121,146
117,637Intangible assets, net
48,290
49,123Operating lease right-of-use assets
54,669
55,066Deposits and other assets
2,007
2,209Total other long-term assets
226,112
224,035Total assets$439,447
$426,774
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable$74,124
$74,411Operating partner commissions payable
10,469
10,541Accrued expenses
11,959
10,637Current portion of operating lease liabilities
13,445
12,741Current portion of finance lease liabilities
263
282Current portion of contingent consideration
9,170
6,050Other current liabilities
806
483Total current liabilities
120,236
115,145
Notes payable
30,000
20,000Operating lease liabilities, net of current portion
47,568
49,245Finance lease liabilities, net of current portion
846
969Contingent consideration, net of current portion
7,130
13,300Deferred tax liabilities
2,400
1,782Other long-term liabilities
10
248Total long-term liabilities
87,954
85,544Total liabilities
208,190
200,689
Redeemable noncontrolling interest
1,321
—
Equity:
Common stock, $0.001 par value, 100,000,000 shares authorized; 52,592,617 and
52,324,201 shares issued, and 46,826,544 and 47,143,178 shares outstanding,
respectively
34
34Additional paid-in capital
111,388
110,588Treasury stock, at cost, 5,766,073 and 5,181,023 shares, respectively
(35,457)
(31,964)Retained earnings
157,167
150,569Accumulated other comprehensive loss
(3,304)
(3,211)Total Radiant Logistics, Inc. stockholders' equity
229,828
226,016Noncontrolling interest
108
69Total equity
229,936
226,085Total liabilities and equity$439,447
$426,774 RADIANT LOGISTICS, INC. Consolidated Statements of Comprehensive Income(unaudited)
Three Months Ended December 31,
Six Months Ended December 31,(In thousands, except share and per share data)2025
2024
2025
2024Revenues$232,130
$264,544
$458,785
$468,109
Operating expenses:
Cost of transportation and other services
168,669
201,239
335,871
347,250Operating partner commissions
20,307
19,291
40,303
38,092Personnel costs
22,589
19,554
44,160
39,177Selling, general and administrative expenses
9,609
12,000
21,683
22,321Depreciation and amortization
3,566
5,038
7,092
9,843Change in fair value of contingent consideration
(90)
(1,300)
110
(1,100)Total operating expenses
224,650
255,822
449,219
455,583
Income from operations
7,480
8,722
9,566
12,526
Other income (expense):
Interest income
36
367
80
832Interest expense
(625)
(311)
(1,230)
(548)Foreign currency transaction gain (loss)
(120)
181
(116)
119Change in fair value of interest rate swap contracts
—
(301)
—
(741)Other
174
14
259
1,053Total other income (expense)
(535)
(50)
(1,007)
715
Income before income taxes
6,945
8,672
8,559
13,241
Income tax expense
(1,725)
(2,163)
(2,064)
(3,308)
Net income
5,220
6,509
6,495
9,933Net loss (income) attributable to noncontrolling interest
85
(42)
103
(90)
Net income attributable to Radiant Logistics, Inc.$5,305
$6,467
$6,598
$9,843
Other Comprehensive income attributable to Radiant Logistics, Inc.:
Foreign currency translation gain (loss)
869
(2,911)
(93)
(2,271)Comprehensive loss attributable to noncontrolling interest
40
—
53
—
Comprehensive income attributable to Radiant Logistics, Inc.$6,129
$3,598
$6,455
$7,662
Income per share:
Basic$0.11
$0.14
$0.14
$0.21Diluted$0.11
$0.13
$0.14
$0.20
Weighted average common shares outstanding:
Basic
46,912,966
46,942,639
47,039,566
46,831,938Diluted
48,665,202
48,983,153
48,701,899
48,784,482Reconciliation of Non-GAAP Measures
RADIANT LOGISTICS, INC.Reconciliation of Gross Profit to Adjusted Gross Profit, Net Income Attributable to Radiant Logistics, Inc.
to Adjusted Net Income, EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin
(unaudited)As used in this report adjusted gross profit, adjusted net income, EBITDA, adjusted EBITDA, and adjusted EBITDA margin are not measures of financial performance or liquidity under United States Generally Accepted Accounting Principles ("GAAP"). Adjusted gross profit, adjusted net income, EBITDA, adjusted EBITDA, and adjusted EBITDA margin are presented herein because they are important metrics used by management to evaluate and understand the performance of the ongoing operations of Radiant's business. For adjusted net income, management uses a 24.5% tax rate to calculate the provision for income taxes to normalize Radiant's tax rate to that of its competitors and to compare Radiant's reporting periods with different effective tax rates. In addition, in arriving at adjusted net income, the Company adjusts for certain non-cash charges and significant items that are not part of regular operating activities. These adjustments include income taxes, depreciation and amortization, costs unrelated to our core operations, and other non-cash charges.We commonly refer to the term "adjusted gross profit" when commenting about our Company and the results of operations. Adjusted gross profit is a non-GAAP measure calculated as revenues less directly related operations and expenses attributed to the Company's services. Adjusted gross profit is calculated as GAAP gross profit exclusive of depreciation and amortization, which are reported separately. We believe adjusted gross profit is a better measurement than are total revenues when analyzing and discussing the effectiveness of our business and is used as a portion of a key metric the Company uses to discuss its progress.EBITDA is a non-GAAP financial measure of income and does not include the effects of interest, income taxes, and the "non-cash" effects of depreciation and amortization on long-term assets. Companies have some discretion as to which elements of depreciation and amortization are excluded in the EBITDA calculation. We exclude all depreciation charges related to property, technology, and equipment and all amortization charges (including amortization of leasehold improvements). We then further adjust EBITDA to exclude share-based compensation, costs unrelated to our core operations (primarily acquisition and litigation costs), allocation of earnings attributable to noncontrolling interests in subsidiaries, and other non-cash charges. While management considers EBITDA and adjusted EBITDA useful in analyzing our results, it is not intended to replace any presentation included in our consolidated financial statements.We believe that these non-GAAP financial measures, as presented, represent a useful method of assessing the performance of our operating activities, as they reflect our earnings trends without the impact of certain non-cash charges and other non-recurring charges. These non-GAAP financial measures are intended to supplement the GAAP financial information by providing additional insight regarding results of operations to allow a comparison to other companies, many of whom use similar non-GAAP financial measures to supplement their GAAP results. However, these non-GAAP financial measures will not be defined in the same manner by all companies and may not be comparable to other companies. Adjusted gross profit, adjusted net income, EBITDA, adjusted EBITDA, and adjusted EBITDA margin should not be considered in isolation or as a substitute for any of the consolidated statements of comprehensive income prepared in accordance with GAAP, or as an indication of Radiant's operating performance or liquidity. (In thousands)Three Months Ended December 31,
Six Months Ended December 31,
Reconciliation of adjusted gross profit to GAAP gross profit2025
2024
2025
2024
Revenues$232,130
$264,544
$458,785
$468,109
Cost of transportation and other services (exclusive of
depreciation and amortization, shown separately below)
(168,669)
(201,239)
(335,871)
(347,250)
Depreciation and amortization
(2,445)
(3,707)
(4,784)
(7,195)
GAAP gross profit$61,016
$59,598
$118,130
$113,664
Depreciation and amortization
2,445
3,707
4,784
7,195
Adjusted gross profit$63,461
$63,305
$122,914
$120,859
GAAP gross profit percentage
26.3%
22.5%
25.7%
24.3%Adjusted gross profit percentage
27.3%
23.9%
26.8%
25.8%
Reconciliation of GAAP net income to adjusted EBITDA2025
2024
2025
2024
Net income attributable to Radiant Logistics, Inc.$5,305
$6,467
$6,598
$9,843
Income tax expense
1,725
2,163
2,064
3,308
Depreciation and amortization (1)
3,566
5,038
7,092
9,957
Net interest expense
589
(56)
1,150
(284)
Share-based compensation
508
(1,813)
932
(1,650)
Change in fair value of contingent consideration
(90)
(1,300)
110
(1,100)
Lease termination costs
54
1,166
162
1,166
Change in fair value of interest rate swap contracts
—
301
—
741
Other (2)
117
50
463
(513)
Adjusted EBITDA
11,774
12,016
18,571
21,468
Adjusted EBITDA as a % of adjusted gross profit (3)
18.6%
19.0%
15.1%
17.8%
(1)Depreciation and amortization for the purposes of calculating adjusted EBITDA, a non-GAAP financial measure, includes depreciation expenses recognized on certain computer software as a service.(2)Other includes costs unrelated to our core operations (primarily acquisition and litigation costs), and other non-cash charges.(3)Adjusted gross profit is revenues less the cost of transportation and other services. (In thousands, except share and per share data)Three Months Ended December 31,
Six Months Ended December 31,Reconciliation of GAAP net income to adjusted net income2025
2024
2025
2024GAAP net income attributable to Radiant Logistics, Inc.$5,305
$6,467
$6,598
$9,843Adjustments to net income:
Income tax expense
1,725
2,163
2,064
3,308Depreciation and amortization
3,566
5,038
7,092
9,843Change in fair value of contingent consideration
(90)
(1,300)
110
(1,100)Lease termination costs
54
1,166
162
1,166Change in fair value of interest rate swap contracts
—
301
—
741Other
137
332
587
806
Adjusted net income before income taxes
10,697
14,167
16,613
24,607
Provision for income taxes at 24.5%
(2,621)
(3,471)
(4,070)
(6,029)
Adjusted net income$8,076
$10,696
$12,543
$18,578
Adjusted net income per common share:
Basic$0.17
$0.23
$0.27
$0.40Diluted$0.17
$0.22
$0.26
$0.38
Weighted average common shares outstanding:
Basic
46,912,966
46,942,639
47,039,566
46,831,938Diluted
48,665,202
48,983,153
48,701,899
48,784,482
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Original: RADIANT LOGISTICS ANNOUNCES RESULTS FOR THE SECOND FISCAL QUARTER ENDED DECEMBER 31, 2025