Cheetah Net Supply Chain Service Inc. Announces Full Year 2025 Results and Provides Corporate Update
Rhea-AI Summary
Cheetah Net Supply Chain Service (Nasdaq: CTNT) reported full‑year 2025 results on March 20, 2026: revenue $1.289M (up 182.7% vs 2024) and a net loss from continuing operations $3.65M. The company recorded a $731,307 impairment and posted $924,224 interest income in 2025.
Cash and working capital remained limited: cash $0.2M, working capital $7.7M, and loan receivables of $7.4M which management says support liquidity for at least 12 months.
Positive
- Revenue +182.7% year-over-year to $1,288,536
- Interest income $924,224 (up 188.4% YoY)
- Working capital $7.7M as of December 31, 2025
- Loan receivables $7.4M supporting near-term liquidity
Negative
- Net loss $3.65M from continuing operations in 2025
- Operating loss $4.58M in 2025, up 22.4% YoY
- Impairment $731,307 on intangible assets and goodwill
- Cash $0.2M as of December 31, 2025
Market Reaction – CTNT
Following this news, CTNT has declined 5.23%, reflecting a notable negative market reaction. Argus tracked a peak move of +6.7% during the session. Our momentum scanner has triggered 14 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $1.45. This price movement has removed approximately $3M from the company's valuation. Trading volume is exceptionally heavy at 7.1x the average, suggesting significant selling pressure.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.
Key Figures
Market Reality Check
Peers on Argus
CTNT slipped 1.33% with very light volume while peers were mixed: movers include SGLY (+13.57%), GVH (+2.60%), NCEW (-3.09%), ATXG (-1.99%). Both up and down moves suggest broader volatility rather than a single-company shock.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 07 | Q3 2025 earnings correction | Negative | -10.2% | Corrected Q3 2025 figures with impairment driving larger operating loss. |
| Nov 07 | Q3 2025 earnings | Negative | -10.2% | Strong revenue growth but sizable impairment and net loss reported. |
| Aug 04 | Q2 2025 earnings | Negative | -3.2% | Revenue up sharply yet company still posted a material net loss. |
| May 05 | Q1 2025 earnings update | Negative | -7.6% | Shift to logistics with continued net losses and business discontinuation. |
| Mar 12 | Full year 2024 results | Negative | -2.5% | Large 2024 net loss and sharp decline in legacy vehicle sales. |
Earnings releases have consistently coincided with negative share-price reactions despite revenue growth and liquidity disclosures.
Over the past year, CTNT’s news flow has centered on its transition from parallel-import vehicles to logistics and warehousing. Earnings updates on Mar 12, 2025, May 5, 2025, Aug 4, 2025, and two releases on Nov 7, 2025 all highlighted rapid logistics revenue growth but ongoing net losses and impairments. Shares fell after each, with 24-hour moves from -2.47% to -10.22%, establishing a pattern of weak price responses to earnings, even when liquidity appeared adequate.
Historical Comparison
Past earnings headlines moved CTNT about -6.75% on average over 24 hours. Today’s modest -1.33% pre-news decline is milder than prior typical reactions.
Earnings updates show a clear shift from vehicle resales to logistics and warehousing, with revenue from Edward and TWEW rising while net losses, impairments, and business discontinuation costs weigh on results.
Market Pulse Summary
The stock is down -5.2% following this news. A negative reaction despite strong revenue growth fits CTNT’s history, where earnings headlines previously led to average moves of about -6.75%. The 2025 report again combines higher logistics revenue of $1.29 million with an operating loss of $4.58 million, a $731,307 impairment, and a net loss of $3.65 million. While working capital of $7.7 million and $7.4 million in loan receivables provide liquidity, continued losses could keep pressure on the shares.
Key Terms
impairment loss financial
goodwill financial
interest income financial
income tax provision financial
continuing operations financial
discontinued operations financial
going concern financial
AI-generated analysis. Not financial advice.
IRVINE, Calif., March 20, 2026 (GLOBE NEWSWIRE) -- Cheetah Net Supply Chain Service Inc. (“Cheetah” or the “Company”) (Nasdaq CM: CTNT), a logistics and warehousing services provider, today reported results for the year ended December 31, 2025 and provided a corporate update.
For the year ended December 31, 2025, the Company reported revenue of
Tony Liu, Cheetah’s Chairman and CEO commented: “Since we restructured our business into logistics and warehousing at the end of 2024, our operations have been shaped by a challenging environment of ongoing tariff tensions and uncertainty in global trade. These factors continued to affect cross-border logistics demand and customer activity throughout the year.”
“Despite these challenges, we remained focused on strengthening our operational fundamentals. During 2025, we expanded our labor and logistics service operations, improved cost discipline, and optimized the use of proceeds from prior public offerings to generate stable interest income. These efforts helped us navigate a difficult market environment.”
“As we move forward, we will remain focused on improving operational efficiency and maintaining financial discipline. At the same time, we will continue to evaluate strategic opportunities that may complement our existing logistics and warehousing capabilities, including potential partnerships, investments, or acquisitions that could support the Company’s long-term growth strategy.”
2025 Financial Results
Continuing operations – logistics and warehousing business
For the year ended December 31, 2025, the Company reported revenue of
Revenue from Edward decreased by
Revenue from TWEW increased substantially to
The Company will continue to focus on improving operational efficiencies and expanding its market presence in the logistics and warehousing business in the California area.
The Company also reported cost of revenue of
Gross profit for the year ended December 31, 2025 was
For the year ended December 31, 2025, general and administrative expenses for the Company’s continuing operations were
Impairment loss expenses were
Share-based compensation expenses were
Interest income from continuing operations was
Interest expense incurred from the Company’s continuing operations was
Other income, net was
The Company incurred a net loss of
Discontinued Operations- parallel-import vehicle business
On March 3, 2025, the Company discontinued its parallel-import vehicle business following a board resolution to that effect.
For the year ended December 31, 2025, the Company generated no revenue, cost of revenue or selling expenses from this discontinued business. For the year ended December 31, 2024, the Company’s revenue from discontinued operations was
Total interest expenses on the line of credit charges were
Net loss for the discontinued operations was approximately
Liquidity and Going Concern Considerations
The Company reported a net operating loss of approximately
As of December 31, 2025, the Company had cash and cash equivalents of approximately
As the Company continues its transition to the logistics and warehousing service business, the Company may continue to incur operating losses and generate negative cash flow.
Management has evaluated the Company’s ability to continue as a going concern in accordance with ASC 205-40, Presentation of Financial Statements – Going Concern. This evaluation considered the Company’s current financial condition, expected cash flows, obligations due within the next 12 months, and available sources of liquidity.
The Company is working to further improve its liquidity and capital sources primarily by generating cash from operations, pursuing debt financing, and, if needed, seeking financial support from its principal stockholder. If necessary to fully implement its business plan and sustain continued growth, the Company may seek additional equity financing from outside investors. Based on the current operating plan, management believes that the aforementioned measures collectively will provide sufficient liquidity to meet the Company’s liquidity and capital requirements for at least 12 months from the issuance date of its consolidated financial statements.
Forward-Looking Statements
This press release contains certain forward-looking statements, including statements that are predictive in nature. Forward-looking statements are based on the Company’s current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 10-K, under the caption “Risk Factors.”
For more information, please contact:
Cheetah Net Supply Chain Service Inc.
Investor Relations
(949) 418-7804
ir@cheetah-net.com
| CHEETAH NET SUPPLY CHAIN SERVICE INC. CONSOLIDATED BALANCE SHEETS | ||||||||
| December 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 233,217 | $ | 1,650,962 | ||||
| Accounts receivable, net | 6,540 | 47,976 | ||||||
| Loan receivable | 7,430,111 | 6,088,295 | ||||||
| Other receivables | 1,157,130 | 370,696 | ||||||
| Prepaid expenses and other current assets | 238,648 | 338,642 | ||||||
| Current assets of discontinued operations | — | 2,540,501 | ||||||
TOTAL CURRENT ASSETS | 9,065,646 | 11,037,072 | ||||||
| NONCURRENT ASSETS: | ||||||||
| Property, plant, and equipment, net | 358,868 | 398,395 | ||||||
| Operating lease right-of-use assets | 1,165,517 | 1,836,521 | ||||||
| Intangibles, net | 792,571 | 1,063,072 | ||||||
| Goodwill | 475,862 | 1,044,394 | ||||||
| TOTAL NONCURRENT ASSETS | 2,792,818 | 4,342,382 | ||||||
TOTAL ASSETS | $ | 11,858,464 | $ | 15,379,454 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Accounts payable | $ | 32,762 | $ | 18,992 | ||||
| Current portion of long-term debt | 35,902 | 34,577 | ||||||
| Loans payable from premium finance | 82,650 | 120,461 | ||||||
| Operating lease liabilities, current | 594,407 | 438,351 | ||||||
| Due to a related party | 5,204 | — | ||||||
| Accrued liabilities and other current liabilities | 594,693 | 217,980 | ||||||
| Current liabilities of discontinued operations | — | 52,900 | ||||||
| TOTAL CURRENT LIABILITIES | 1,345,618 | 883,261 | ||||||
| NONCURRENT LIABILITIES: | ||||||||
| Long-term debt, net of current portion | 572,653 | 610,020 | ||||||
| Operating lease liabilities, net of current portion | 584,606 | 1,268,501 | ||||||
| TOTAL NONCURRENT LIABILITIES | 1,157,259 | 1,878,521 | ||||||
| TOTAL LIABILITIES | $ | 2,502,877 | $ | 2,761,782 | ||||
| COMMITMENTS AND CONTINGENCIES | — | — | ||||||
| STOCKHOLDERS’ EQUITY | ||||||||
| Common stock, | ||||||||
| Class A common stock, | 273 | 267 | ||||||
| Class B common stock, | 69 | 55 | ||||||
| Additional paid-in capital | 17,685,559 | 17,297,961 | ||||||
| Subscription receivable | — | — | ||||||
| (Accumulated deficit) Retained earnings | (8,330,314 | ) | (4,680,611 | ) | ||||
| TOTAL STOCKHOLDERS’ EQUITY | 9,355,587 | 12,617,672 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 11,858,464 | $ | 15,379,454 | ||||
______________________________
* Retrospectively adjusted for the reverse split of the Company’s common stock at a ratio of 1-for-16, which took effect on October 24, 2024.
| CHEETAH NET SUPPLY CHAIN SERVICE INC. CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| For the Years Ended December 31, | ||||||||
| 2025 | 2024* | |||||||
| REVENUE | $ | 1,288,536 | $ | 455,805 | ||||
| COST OF REVENUE | 1,121,761 | 277,293 | ||||||
| GROSS PROFIT | 166,775 | 178,512 | ||||||
| OPERATING EXPENSES | ||||||||
| General and administrative expenses | 3,627,426 | 3,641,713 | ||||||
| Impairment loss expenses | 731,307 | — | ||||||
| Share-based compensation expenses | 387,618 | 277,345 | ||||||
| TOTAL OPERATING EXPENSES | 4,746,351 | 3,919,058 | ||||||
| (LOSS) FROM OPERATIONS | (4,579,576 | ) | (3,740,546 | ) | ||||
| OTHER INCOME (EXPENSES) | ||||||||
| Interest income | 924,224 | 320,472 | ||||||
| Interest expenses | (33,198 | ) | (35,951 | ) | ||||
| Other income | 90,105 | 8,009 | ||||||
| Other expenses | (35,342 | ) | — | |||||
| OTHER INCOME, NET | 945,789 | 292,530 | ||||||
| (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | (3,633,787 | ) | (3,448,016 | ) | ||||
| Income tax (benefits) expense | 15,916 | (215,822 | ) | |||||
| (LOSS) FROM CONTINUING OPERATIONS | (3,649,703 | ) | (3,232,194 | ) | ||||
| (LOSS) INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX | — | (1,956,658 | ) | |||||
| NET LOSS | $ | (3,649,703 | ) | $ | (5,188,852 | ) | ||
| Loss from continuing operations per ordinary share - basic and diluted | $ | (1.12 | ) | $ | (1.65 | ) | ||
| Loss from discontinued operations per ordinary share - basic and diluted | $ | (0.00 | ) | $ | (1.00 | ) | ||
| Loss per share - basic and diluted | $ | (1.12 | ) | $ | (2.65 | ) | ||
| Weighted average shares - basic and diluted | 3,263,456 | 1,955,214 | ||||||
______________________________
* Reclassification- certain reclassifications have been made to the financial statements for the year ended December 31, 2024, to conform to the presentation for the year ended December 31, 2025, with no effect on previously reported net income (loss).
| CHEETAH NET SUPPLY CHAIN SERVICE INC. CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||
| Years ended December 31, | |||||||||
| 2025 | 2024 | ||||||||
| Net cash provided by (used in) operating activities | $ | (2,075 | ) | $ | 242,220 | ||||
| Cash outflows from operations-continuing operations | (2,489,676 | ) | (3,455,918 | ) | |||||
| Cash inflows from operations-discontinued operations | 2,487,601 | 3,698,138 | |||||||
| Net cash used in investing activities | (1,341,816 | ) | (6,130,932 | ) | |||||
| Cash outflows from operations-continuing operations | (1,341,816 | ) | (6,130,932 | ) | |||||
| Net cash provided by (used in) financing activities | (73,854 | ) | 7,106,676 | ||||||
| Cash inflows (outflows) from operations-continuing operations | (73,854 | ) | 8,799,952 | ||||||
| Cash outflows from operations-discontinued operations | — | (1,693,276 | ) | ||||||
| Net increase (decrease) in cash | $ | (1,417,745 | ) | $ | 1,217,964 | ||||
FAQ
What were Cheetah Net Supply Chain Service (CTNT) full-year 2025 revenues and net loss?
Why did CTNT record an impairment in 2025 and how large was it?
How strong is CTNT's liquidity position as of December 31, 2025?
What drove CTNT's revenue growth in 2025, especially from acquisitions?
Did CTNT generate meaningful interest income in 2025 and why?
