Cheetah Net Supply Chain Service Inc. Announces Third Quarter 2026 Results and Provides Corporate Update
Sentiment and the balance of points
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Rhea-AI Summary
Cheetah Net Supply Chain Service (CTNT) reported third-quarter 2026 revenue of $3,557,805, driven entirely by its acquired international trading business. Revenue rose 883.0% from a year earlier, while the operating loss narrowed 47.5% to $821,890. The continuing-operations net loss widened 93.8% to $2,547,995, including a $2,783,884 loss from revaluing an acquisition-related contingent consideration asset.
Logistics and warehousing revenue fell to zero following Edward’s disposal and the expiration of TWEW customer contracts. The nine-month continuing-operations net loss was $3,093,215, versus $2,581,087 a year earlier. Operating cash use was approximately $2.5 million. September 30 cash was approximately $14.5 million, with working capital of $87.1 million. Management believes its liquidity measures will cover requirements for at least 12 months from issuance of the financial statements.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major pointSeptember 30 liquidity included approximately $14.5 million cash and $87.1 million working capital.
- Moderate pointThird-quarter revenue rose 883.0% to $3,557,805 year over year, entirely from Super International.
- Moderate pointThird-quarter operating loss narrowed 47.5% to $821,890 from $1,564,479 a year earlier.
- Moderate pointInternational trading gross profit reached $281,407 in third-quarter 2026, versus nil a year earlier.
- Moderate pointNine-month international trading revenue reached $4,426,714; Super International contributed 95.3%.
- Moderate pointInterest income rose 62.7% to $398,232 quarterly and 12.3% to $814,069 over nine months.
- Moderate pointNet other income rose to $666,508 quarterly and $1,669,286 over nine months, primarily from foreign-exchange gains.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Management believes liquidity measures will meet capital requirements for at least 12 months from financial-statement issuance.
4 minor points
- Minor pointNine-month international trading gross profit reached $300,907, versus nil a year earlier.
- Minor pointLogistics administrative expenses fell 84.1% to $17,068 quarterly and 50.8% to $173,757 over nine months.
- Minor pointShare-based compensation fell 81.4% to $14,183 quarterly and 58.6% to $42,547 over nine months.
- Minor pointInterest expense fell 11.3% to $6,961 quarterly and 13.2% to $21,460 over nine months.
Negative
- Major pointThird-quarter continuing-operations net loss widened 93.8% to $2,547,995, versus $1,314,650 a year earlier.
- Moderate pointThird-quarter logistics revenue and gross profit fell to nil, from $361,935 and $44,178, respectively.
- Moderate pointTWEW customer arrangements remain under renegotiation, with letters of intent and draft contracts being executed.
- Moderate pointCorporate unallocated administrative expenses rose 51.1% to $1,048,697 quarterly and 12.2% to $2,529,043 over nine months.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Nine-month operating cash use was approximately $2.5 million; the company may continue incurring losses and negative cash flow.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Liquidity plans include pursuing debt financing and, if needed, principal-stockholder support or additional outside equity financing.
4 minor points
- Minor pointNine-month continuing-operations net loss widened to $3,093,215 from $2,581,087 a year earlier.
- Minor pointAcquisition-related contingent consideration asset revaluation generated a $2,783,884 loss in third-quarter 2026.
- Minor pointNine-month logistics revenue fell to $92,700 from $1,195,860; gross profit declined 85.3% to $19,867.
- Minor pointInternational trading administrative expenses increased from nil to $23,349 quarterly and $43,433 over nine months.
News Explained
Collection of the 41.8 million dollar withdrawal receivable by December 30, 2026 is a dated liquidity milestone, distinct from cash on hand.
In reporting third-quarter results, Cheetah Net Supply Chain Service listed 1,333,445 common shares issued and outstanding at
The company reports a
Key Figures
- Quarterly revenue
- $3,557,805; increase of 883.0%
- Third quarter 2026 versus the same period in 2025
- Operating loss
- $821,890; decrease of 47.5%
- Third quarter 2026 versus the same period in 2025
- Net loss from continuing operations
- $2,547,995; increase of 93.8%
- Third quarter 2026 versus the same period in 2025
- Logistics and warehousing revenue
- $nil
- Third quarter 2026
- Net cash used in operating activities
- Approximately $2.5 million
- Nine months ended September 30, 2026
- Cash and cash equivalents
- Approximately $14.5 million
- As of September 30, 2026
- Working capital
- $87.1 million
- As of September 30, 2026
- Investment deposit withdrawal receivable
- $41,762,995
- Repayable in full on or before December 30, 2026
Previous Earnings Reports
-
International trading drove Q2 revenue after Super acquisition; logistics segment reported no revenue.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
going concern financial
contingent consideration financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
IRVINE, Calif., Nov. 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 September 30, 2026 and provided a corporate update.
For the quarter ended September 30, 2026, the Company reported total revenue of
Tony Liu, Cheetah’s Chairman and CEO, commented: “The third quarter of 2026 marked an important step forward in the execution of our business diversification strategy. Following the acquisition of Super International Trading Limited in May, our international trading business demonstrated encouraging momentum, generating approximately
“While our logistics and warehousing business continues to face challenges arising from evolving global trade conditions and cross-border customer demand, we remain focused on optimizing our operating structure and allocating resources toward opportunities that we believe offer greater long-term growth potential. We are encouraged by the progress of our international trading business and will continue to focus on strengthening its operations, expanding business opportunities, and improving operational efficiency.”
“Looking ahead, we remain committed to disciplined capital allocation, prudent financial management, and the pursuit of strategic opportunities that complement our existing capabilities. We believe that our continued efforts to diversify our revenue streams and strengthen our operating platform will position the Company for sustainable long-term growth.”
Third Quarter 2026 Financial Results
Continuing operations – logistics and warehousing business
For the three months ended September 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 September 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 September 30, 2026, the Company reported revenue of
The Company also reported cost of revenue of
Gross profit for the three months ended September 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
Net other income from continuing operations was
The Company’s receivable from withdrawal of investment deposit of
Other expense from the change in fair value of acquisition-related contingent consideration asset was
As a result of the above factors, the Company had a net loss of
Nine Months 2026 Financial Results
Continuing operations – logistics and warehousing business
For the nine months ended September 30, 2026, the Company reported revenue of
The Company also reported cost of revenue of
Gross profit for the nine months ended September 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 nine months ended September 30, 2026, the Company reported revenue of
The Company also reported cost of revenue of
Gross profit for the nine months ended September 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
Net other income from continuing operations was
During the nine months ended September 30, 2026, the Company recognized an unrealized foreign exchange gain of approximately
Other expense from the change in fair value of acquisition-related contingent consideration asset 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 loss of approximately
As of September 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. (UNAUDITED) CONSOLIDATED BALANCE SHEETS | ||||||||
| September 30, | December 31, | |||||||
| 2026 | 2025* | |||||||
| (UNAUDITED) | (AUDITED) | |||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 14,464,614 | $ | 233,217 | ||||
| Accounts receivable, net | 419,529 | 6,540 | ||||||
| Loan receivable | 29,471,513 | 7,430,111 | ||||||
| Other receivables, net | 1,341,520 | 1,157,130 | ||||||
| Prepaid expenses and other current assets | 1,026,988 | 238,648 | ||||||
| Receivable from withdrawal of investment deposit | 41,762,995 | — | ||||||
| TOTAL CURRENT ASSETS | 88,487,159 | 9,065,646 | ||||||
| NONCURRENT ASSETS: | ||||||||
| Property, plant, and equipment, net | 303,167 | 358,868 | ||||||
| Operating lease right-of-use assets | 414,992 | 1,165,517 | ||||||
| Intangibles, net | 490,000 | 792,571 | ||||||
| Goodwill | 2,665,654 | 475,862 | ||||||
| TOTAL NONCURRENT ASSETS | 3,873,813 | 2,792,818 | ||||||
| TOTAL ASSETS | $ | 92,360,972 | $ | 11,858,464 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Accounts payable | $ | 419,058 | $ | 32,762 | ||||
| Current portion of long-term debt | 37,750 | 35,902 | ||||||
| Loans payable from premium finance | 123,516 | 82,650 | ||||||
| Due to a related party | 10,745 | 5,204 | ||||||
| Operating lease liabilities, current | 428,852 | 594,407 | ||||||
| Accrued liabilities and other current liabilities | 343,781 | 594,693 | ||||||
| TOTAL CURRENT LIABILITIES | 1,363,702 | 1,345,618 | ||||||
| NONCURRENT LIABILITIES: | ||||||||
| Long-term debt, net of current portion | 542,618 | 572,653 | ||||||
| Operating lease liabilities, net of current portion | — | 584,606 | ||||||
| TOTAL NONCURRENT LIABILITIES | 542,618 | 1,157,259 | ||||||
| TOTAL LIABILITIES | $ | 1,906,320 | $ | 2,502,877 | ||||
| COMMITMENTS AND CONTINGENCIES | — | — | ||||||
| STOCKHOLDERS’ EQUITY | ||||||||
| Common stock, | ||||||||
| Class A common stock, | 133 | — | ||||||
| Class B common stock, | — | — | ||||||
| Additional paid-in capital | 101,878,048 | 17,685,901 | ||||||
| Accumulated deficit | (11,423,529 | ) | (8,330,314 | ) | ||||
| TOTAL STOCKHOLDERS’ EQUITY | 90,454,652 | 9,355,587 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 92,360,972 | $ | 11,858,464 | ||||
* Retrospectively restated for effect of the Company’s amended and restated articles of incorporation and bylaws and share reverse splits on April 20, 2026 (1-for-200) and September 21, 2026 (1-for-150). | ||||||||
| CHEETAH NET SUPPLY CHAIN SERVICE INC. (UNAUDITED) CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
| 2026 | 2025* | 2026 | 2025* | |||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
| REVENUE | $ | 3,557,805 | $ | 361,935 | $ | 4,519,414 | $ | 1,195,860 | ||||||||
| COST OF REVENUE | 3,276,398 | 317,757 | 4,198,640 | 1,060,526 | ||||||||||||
| GROSS PROFIT | 281,407 | 44,178 | 320,774 | 135,334 | ||||||||||||
| OPERATING EXPENSES | ||||||||||||||||
| General and administrative expenses | 1,089,114 | 801,263 | 2,746,233 | 2,607,087 | ||||||||||||
| Impairment loss expenses | — | 731,307 | — | 731,307 | ||||||||||||
| Share-based compensation expenses | 14,183 | 76,087 | 42,547 | 102,716 | ||||||||||||
| TOTAL OPERATING EXPENSES | 1,103,297 | 1,608,657 | 2,788,780 | 3,441,110 | ||||||||||||
| LOSS FROM OPERATIONS | (821,890 | ) | (1,564,479 | ) | (2,468,006 | ) | (3,305,776 | ) | ||||||||
| OTHER INCOME (EXPENSES) | ||||||||||||||||
| Interest income | 398,232 | 244,776 | 814,069 | 725,094 | ||||||||||||
| Interest expenses | (6,961 | ) | (7,849 | ) | (21,460 | ) | (24,721 | ) | ||||||||
| Loss on disposal of Edward | — | — | (297,610 | ) | — | |||||||||||
| Other income | 666,508 | 12,900 | 1,669,286 | 78,005 | ||||||||||||
| Other expenses | — | 2 | — | (35,347 | ) | |||||||||||
| Other expense change in fair value of acquisition-related contingent consideration asset | (2,783,884 | ) | — | (2,783,884 | ) | — | ||||||||||
| OTHER INCOME, NET | (1,726,105 | ) | 249,829 | (619,599 | ) | 743,031 | ||||||||||
| INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | (2,547,995 | ) | (1,314,650 | ) | (3,087,605 | ) | (2,562,745 | ) | ||||||||
| Income tax | — | — | 5,610 | 18,342 | ||||||||||||
| INCOME (LOSS) FROM CONTINUING OPERATIONS | (2,547,995 | ) | (1,314,650 | ) | (3,093,215 | ) | (2,581,087 | ) | ||||||||
| LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX | — | — | — | — | ||||||||||||
| NET INCOME (LOSS) | $ | (2,547,995 | ) | $ | (1,314,650 | ) | $ | (3,093,215 | ) | $ | (2,581,087 | ) | ||||
| Earnings (loss) from continuing operations per ordinary share - basic and diluted | $ | (11.23 | ) | $ | (12,170.24 | ) | $ | (38.17 | ) | $ | (23,897.33 | ) | ||||
| Earnings (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 | $ | (11.23 | ) | $ | (12,170.24 | ) | $ | (38.17 | ) | $ | (23,897.33 | ) | ||||
| Weighted average shares - basic and diluted | 226,988 | 108 | 81,037 | 108 | ||||||||||||
* Certain reclassifications have been made to the financial statements for the period ended September 30, 2025, to conform to the presentation for the period ended September 30, 2026, with no effect on previously reported net income (loss). | ||||||||||||||||
| CHEETAH NET SUPPLY CHAIN SERVICE INC. CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
| Nine Months Ended September 30, | ||||||||
| 2026 | 2025 | |||||||
| Net cash provided by (used in) operating activities | $ | (2,543,247 | ) | $ | 733,780 | |||
| Cash used in operations-continuing operations | (2,543,247 | ) | (1,806,721 | ) | ||||
| Cash provided by operations-discontinued operations | — | 2,540,501 | ||||||
| Net cash used in investing activities | (67,239,062 | ) | (2,214,816 | ) | ||||
| Cash used in investing activities-continuing operations | (67,239,062 | ) | (2,214,816 | ) | ||||
| Net cash provided by (used in) financing activities | 84,022,934 | (16,237 | ) | |||||
| Cash provided by (used in) financing activities-continuing operations | 84,022,934 | (16,237 | ) | |||||
| Effect of exchange rate fluctuation on cash | (9,228 | ) | 3 | |||||
| Net increase (decrease) in cash | $ | 14,231,397 | $ | (1,497,270 | ) | |||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Cheetah Net’s third-quarter 2026 earnings results?
Cheetah Net reported revenue of $3,557,805 and a continuing-operations net loss of $2,547,995 for the quarter ended September 30, 2026. Revenue increased 883.0% year over year, but the net loss widened 93.8%. The operating loss narrowed 47.5% to $821,890.
When is Cheetah Net’s investment-deposit withdrawal receivable due for repayment?
The $41,762,995 receivable at September 30, 2026 is repayable in full by Shanghai Kesheng on or before December 30, 2026. It represents RMB 280,000,000 contributed by Naiside to a PRC investment fund in January 2026. The receivable is denominated in Renminbi and remeasured at each reporting date.
How did foreign-exchange gains affect Cheetah Net’s 2026 losses?
Unrealized foreign-exchange gains on the investment-deposit withdrawal receivable reduced reported pretax losses by $652,422 in the third quarter and approximately $1,631,708 over nine months. Excluding those non-cash gains, continuing-operations pretax losses would have been approximately $3,200,417 and $4,719,313, respectively.