Cheetah Net Supply Chain Service Inc. Announces Second Quarter 2026 Results
Rhea-AI Summary
Cheetah Net Supply Chain Service (Nasdaq: CTNT) reported second quarter 2026 revenue of $868,909, up 145.4% from $354,126 a year earlier, driven entirely by its new international trading segment following the May 27, 2026 acquisition of Super International Trading. The logistics and warehousing segment generated no Q2 2026 revenue after the disposal of Edward Transit Express Group.
The company posted a Q2 2026 operating loss of $881,797 but recorded other income of $954,052, mainly from foreign exchange gains, leading to net income from continuing operations of $71,045 versus a $512,528 loss in Q2 2025. For the first six months of 2026, Cheetah recorded a net loss from continuing operations of $545,220, improved from a $1,266,437 loss in 2025.
Management highlighted ongoing business reshaping, including disposal of Edward and cost controls, alongside going concern risks due to continued operating losses and negative operating cash flow. As of June 30, 2026, Cheetah reported cash of $2.1 million, working capital of $74.1 million, total assets of $82.5 million, and total liabilities of $2.2 million.
Positive
- Q2 2026 revenue up 145.4% YoY to $868,909
- Q2 2026 net income from continuing operations $71,045 vs $512,528 loss in 2025
- Other income Q2 2026 $954,052, mainly FX gain of $979,277
- Six‑month 2026 net loss reduced to $545,220 from $1,266,437
- Working capital $74.1 million and cash $2.1 million at June 30, 2026
- Total assets grew to $82.5 million from $11.9 million at year‑end 2025
Negative
- Logistics and warehousing Q2 2026 revenue fell to $0 from $354,126
- Q2 2026 operating loss widened 12.9% YoY to $881,797
- Six‑month 2026 net loss from continuing operations $545,220
- Net cash used in operating activities about $0.9 million for six months 2026
- Management disclosed substantial doubt about going concern due to ongoing losses and negative cash flow
- Profitability in Q2 2026 relied heavily on FX‑driven other income vs modest gross profit of $19,500
News Explained
The reported share-count increase reduces existing holders’ ownership percentage; March 31 cash equaled 26.1 days of operating cash use.
The
Under the supplied definition of dilution, that higher outstanding share count reduces each existing holder’s percentage ownership absent offsetting changes.
Using
Because that calculation uses first-quarter figures, it is a historical liquidity comparison rather than a measure of June 30 cash duration.
Sources and calculations
- Cheetah Net Supply Chain Service Inc. Announces Second Quarter 2026 Results (2026-08-13)
- Dilution (undated)
- Cheetah Net Supply Chain Service Inc. first-quarter 2026 fundamentals (2026Q1)
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $713,948 / ($2,457,939 / 90) = [object Object]
Market reaction after 2Q26 earnings report: CTNT +3.62%
Following this news, CTNT has gained 3.62%, reflecting a moderate positive market reaction. Argus tracked a peak move of +13.7% during the session. Our momentum scanner has triggered 21 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $1.70. Trading volume is very high at 4.2x the average, suggesting strong buying interest.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 14 | First-quarter earnings | Negative | -11.4% | Revenue declined while operating and net losses continued despite lower expenses. |
| Mar 20 | Full-year earnings | Negative | -8.5% | Annual results showed continuing losses, impairment, and limited cash resources. |
| Nov 07 | Third-quarter earnings | Negative | -10.2% | Quarterly operating and net losses included a material impairment charge. |
| Nov 07 | Third-quarter earnings | Negative | -10.2% | Results included an operating loss, net loss, and ongoing liquidity concerns. |
| Aug 04 | Second-quarter earnings | Negative | -3.2% | Revenue growth was accompanied by a quarterly net loss. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
CTNT’s tag-specific earnings announcements were followed by negative 24-hour price reactions in all five available events.
Key Terms
going concern financial
ASC 205-40 regulatory
working capital financial
reverse split regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
IRVINE, Calif., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Cheetah Net Supply Chain Service Inc. (“Cheetah” or the “Company”) (Nasdaq CM: CTNT), a provider of logistics and warehousing services and international trading services, today reported results for the quarter ended June 30, 2026 and provided a corporate update.
For the quarter ended June 30, 2026, the Company reported total revenue of
Tony Liu, Cheetah’s Chairman and CEO commented: “We continued to execute our strategy of diversifying the Company’s business platform. The acquisition of Super International Trading Limited expanded our operations into international trading. At the same time, our logistics and warehousing business continued to face pressure from uncertainty in global trade and changes in cross-border customer demand.”
“We also continued to streamline our operating structure and allocate resources toward businesses that we believe offer stronger long-term potential. During the quarter, we completed the disposal of Edward Transit Express Group, Inc. to optimize the Company’s business structure, reduce ongoing operating and management costs, and focus resources on higher-priority opportunities.”
“Looking ahead, we will continue to focus on integrating and developing our international trading operations while maintaining financial discipline and improving operational efficiency across the Company. We will continue to evaluate strategic opportunities that complement our existing capabilities, diversify our revenue base, and support sustainable long-term growth.”
Second Quarter 2026 Financial Results
Continuing operations – logistics and warehousing business
For the three months ended June 30, 2026, the Company reported revenue of $nil from its logistics and warehousing services segment, compared to
The Company also reported cost of revenue of $nil and
Gross profit for the three months ended June 30, 2026, was $nil, a decrease of
General and administrative expenses for the Company’s continuing operations-logistics and warehousing services segment decreased by
Continuing operations – international trading
For the three months ended June 30, 2026, the Company reported revenue of
The Company also reported cost of revenue of
Gross profit for the three months ended June 30, 2026 was
General and administrative expenses for the Company’s continuing operations - international trading segment increased to
Continuing operations – Corporate Unallocated Operating Adjustments
General and administrative expenses for the Company’s continuing operations- corporate unallocated operating adjustments segment increased by
Share-based compensation expenses were
Interest income from continuing operations was
Interest expense incurred from our continuing operations was
Other income, net from continuing operations was
As a result of the above factors, the Company had a net income of
Six Months 2026 Financial Results
Continuing operations – logistics and warehousing business
For the six months ended June 30, 2026, the Company reported revenue of
The Company also reported cost of revenue of
Gross profit for the six months ended June 30, 2026, was
General and administrative expenses for the Company’s continuing operations-logistics and warehousing services segment decreased by
Continuing operations – international trading
For the six months ended June 30, 2026, the Company reported revenue of
The Company also reported cost of revenue of
Gross profit for the six months ended June 30, 2026, was
General and administrative expenses for the Company’s continuing operations-international trading segment increased to
Continuing operations – Corporate Unallocated Operating Adjustments
General and administrative expenses for the Company’s continuing operations- corporate unallocated operating adjustments segment decreased by
Share-based compensation expenses were
Interest income from continuing operations was
Interest expense incurred from our continuing operations was
Other income, net from continuing operations was
As a result of the above factors, the Company had a net loss of
Liquidity and Going Concern Considerations
The Company reported a net operating loss of approximately
As of June 30, 2026, the Company had cash and cash equivalents of approximately
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 | ||||||||
| June 30, | December 31, | |||||||
| 2026 | 2025* | |||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 2,143,604 | $ | 233,217 | ||||
| Accounts receivable, net | 734,162 | 6,540 | ||||||
| Loan receivable | 29,951,513 | 7,430,111 | ||||||
| Other receivables, net | 960,451 | 1,157,130 | ||||||
| Prepaid expenses and other current assets | 821,030 | 238,648 | ||||||
| Receivable from withdrawal of investment deposit | 41,110,573 | — | ||||||
| TOTAL CURRENT ASSETS | 75,721,333 | 9,065,646 | ||||||
| NONCURRENT ASSETS: | ||||||||
| Property, plant, and equipment, net | 309,792 | 358,868 | ||||||
| Operating lease right-of-use assets | 530,929 | 1,165,517 | ||||||
| Intangibles, net | 505,000 | 792,571 | ||||||
| Goodwill | 2,665,654 | 475,862 | ||||||
| Contingent consideration asset | 2,783,884 | — | ||||||
| TOTAL NONCURRENT ASSETS | 6,795,259 | 2,792,818 | ||||||
| TOTAL ASSETS | $ | 82,516,592 | $ | 11,858,464 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Accounts payable | $ | 733,426 | $ | 32,762 | ||||
| Current portion of long-term debt | 37,279 | 35,902 | ||||||
| Loans payable from premium finance | — | 82,650 | ||||||
| Due to a related party | 9,713 | 5,204 | ||||||
| Operating lease liabilities, current | 502,249 | 594,407 | ||||||
| Accrued liabilities and other current liabilities | 309,823 | 594,693 | ||||||
| TOTAL CURRENT LIABILITIES | 1,592,490 | 1,345,618 | ||||||
| NONCURRENT LIABILITIES: | ||||||||
| Long-term debt, net of current portion | 552,570 | 572,653 | ||||||
| Operating lease liabilities, net of current portion | 44,950 | 584,606 | ||||||
| TOTAL NONCURRENT LIABILITIES | 597,520 | 1,157,259 | ||||||
| TOTAL LIABILITIES | $ | 2,190,010 | $ | 2,502,877 | ||||
| COMMITMENTS AND CONTINGENCIES | — | — | ||||||
| STOCKHOLDERS’ EQUITY | ||||||||
| Common stock, | ||||||||
| Class A common stock, | 296 | 1 | ||||||
| Class B common stock, | 20 | — | ||||||
| Additional paid-in capital | 89,201,800 | 17,685,900 | ||||||
| Accumulated deficit | (8,875,534 | ) | (8,330,314 | ) | ||||
| TOTAL STOCKHOLDERS’ EQUITY | 80,326,582 | 9,355,587 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 82,516,592 | $ | 11,858,464 | ||||
____________________
* Retrospectively restated for effect of the Company’s amended and restated articles of incorporation and bylaws and share reverse split on April 20, 2026. See also Note 16.
The accompanying notes are an integral part of these consolidated financial statements.
| CHEETAH NET SUPPLY CHAIN SERVICE INC. CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025* | 2026 | 2025* | |||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
| REVENUE | $ | 868,909 | $ | 354,126 | $ | 961,609 | $ | 833,925 | ||||||||
| COST OF REVENUE | 849,409 | 319,226 | 922,242 | 742,769 | ||||||||||||
| GROSS PROFIT | 19,500 | 34,900 | 39,367 | 91,156 | ||||||||||||
| OPERATING EXPENSES | ||||||||||||||||
| General and administrative expenses | 887,115 | 805,305 | 1,657,119 | 1,805,824 | ||||||||||||
| Share-based compensation expenses | 14,182 | 10,444 | 28,364 | 26,629 | ||||||||||||
| TOTAL OPERATING EXPENSES | 901,297 | 815,749 | 1,685,483 | 1,832,453 | ||||||||||||
| LOSS FROM OPERATIONS | (881,797 | ) | (780,849 | ) | (1,646,116 | ) | (1,741,297 | ) | ||||||||
| OTHER INCOME (EXPENSES) | ||||||||||||||||
| Interest income | 264,695 | 272,228 | 415,837 | 480,318 | ||||||||||||
| Interest expenses | (6,799 | ) | (8,060 | ) | (14,499 | ) | (16,872 | ) | ||||||||
| Loss on disposal of Edward | (297,610 | ) | — | (297,610 | ) | — | ||||||||||
| Other income | 993,766 | 17,140 | 1,002,778 | 29,756 | ||||||||||||
| OTHER INCOME, NET | 954,052 | 281,308 | 1,106,506 | 493,202 | ||||||||||||
| INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 72,255 | (499,541 | ) | (539,610 | ) | (1,248,095 | ) | |||||||||
| Income tax | 1,210 | 12,987 | 5,610 | 18,342 | ||||||||||||
| INCOME (LOSS) FROM CONTINUING OPERATIONS | 71,045 | (512,528 | ) | (545,220 | ) | (1,266,437 | ) | |||||||||
| LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX | — | — | — | — | ||||||||||||
| NET INCOME (LOSS) | $ | 71,045 | $ | (512,528 | ) | $ | (545,220 | ) | $ | (1,266,437 | ) | |||||
| Income (loss) from continuing operations per ordinary share - basic and diluted | $ | 0.037 | $ | (31.84 | ) | $ | (0.53 | ) | $ | (78.68 | ) | |||||
| Income (loss) from discontinued operations per ordinary share - basic and diluted | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Earnings (loss) per share - basic and diluted | $ | 0.037 | $ | (31.84 | ) | $ | (0.53 | ) | $ | (78.68 | ) | |||||
| Weighted average shares - basic and diluted | 1,909,536 | 16,096 | 1,027,682 | 16,096 | ||||||||||||
_______________________
* Certain reclassifications have been made to the financial statements for the period ended June 30, 2024, to conform to the presentation for the period ended June 30, 2025, with no effect on previously reported net income (loss). See Note 6 – Discontinued Operations.
The accompanying notes are an integral part of these consolidated financial statements.
| CHEETAH NET SUPPLY CHAIN SERVICE INC. CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
| Six Months ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| Net cash provided by (used in) operating activities | $ | (865,760 | ) | $ | 1,333,668 | |||
| Cash used in operations-continuing operations | (865,760 | ) | (1,206,833 | ) | ||||
| Cash provided by operations-discontinued operations | — | 2,540,501 | ||||||
| Net cash used in investing activities | (68,610,348 | ) | (2,661,150 | ) | ||||
| Cash used in investing activities-continuing operations | (68,610,348 | ) | (2,661,150 | ) | ||||
| Net cash provided by (used in) financing activities | 71,386,495 | (138,294 | ) | |||||
| Cash provided by (used in) financing activities-continuing operations | 71,386,495 | (138,294 | ) | |||||
| Net (decrease) increase in cash | $ | 1,910,387 | $ | (1,465,776 | ) | |||
