RADIANT LOGISTICS ANNOUNCES RESULTS FOR THE FIRST FISCAL QUARTER ENDED SEPTEMBER 30, 2025

Rhea-AI Summary

Radiant Logistics (NYSE: RLGT) reported Q1 fiscal results for the quarter ended September 30, 2025, with revenues of $226.7M (up 11.3% YoY) and gross profit of $57.1M (up 5.5% YoY). Net income attributable to Radiant was $1.3M or $0.03 per share versus $3.4M ($0.07) a year earlier. Adjusted net income was $4.5M (down 43%) and adjusted EBITDA was $6.8M (down 28.4%), with an adjusted EBITDA margin of 11.4% (500 bps decline).

Corporate actions: acquired an 80% interest in Mexico-based Weport effective Sept 1, 2025; repurchased 139,992 shares for $0.8M in the quarter and repurchased an additional 341,466 shares for $2.0M through Nov 7, 2025; shares outstanding 47,207,846; reported net debt of approximately $2.0M. Conference call scheduled Nov 10, 2025 at 4:30 PM ET.

Positive

• Revenue +11.3% to $226.7M
• Gross profit +5.5% to $57.1M
• Acquired 80% of Weport effective Sept 1, 2025
• Net debt approx $2.0M versus $200M credit facility

Negative

• Adjusted net income -43% to $4.5M
• Adjusted EBITDA -28.4% to $6.8M
• Adjusted EBITDA margin down 500 bps to 11.4%
• GAAP net income fell from $3.4M to $1.3M

Insights

Equity Analyst

Mixed quarter: revenue growth and low leverage but weaker profitability and one‑time losses offset near‑term gains.

Revenue rose to $226.7 million (+11.3%) and gross profit increased to $57.1 million (+5.5%), driven partly by acquisitions such as the 80% purchase of Weport. The company continues buybacks (139,992 shares at an average of $5.96; subsequent purchases totaling $2.0 million) and reports net debt of about $2.0 million, indicating very low leverage relative to its $200.0 million credit facility.

Profitability measures weakened: GAAP net income fell to $1.3 million (from $3.4 million), adjusted net income declined to $4.5 million (down 43.0%), and adjusted EBITDA dropped to $6.8 million (down 28.4%). Management identifies a one‑time $1.3 million bad debt tied to First Brands; normalizing for that lifts adjusted metrics but does not fully close the gap to prior year levels.

Key dependencies and risks include successful integration and milestone achievement for the Weport acquisition and realisation of organic growth from contract logistics, customs services and the Navegate platform. Watch: quarterly adjusted EBITDA margin (reported 11.4%, normalized to 13.7%), any further bad‑debt or acquisition‑related adjustments, and progress on commercial adoption of Navegate over the next 2–4 quarters. Given clear revenue growth but weaker margins and earnings, the net impact is neutral pending evidence of margin recovery or sustained organic uptake of the stated technology and services.

Continued progress with acquisitions and stock buy-back;
Well positioned with low leverage and acquisition and organic growth drivers

RENTON, Wash., Nov. 10, 2025 /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 months ended September 30, 2025.

Financial Highlights – Three Months Ended September 30, 2025

• Revenues of $226.7 million for the three months ended September 30, 2025, up $23.1 million or 11.3%, compared to revenues of $203.6 million for the comparable prior year period.
• Gross profit of $57.1 million for the three months ended September 30, 2025, up $3.0 million or 5.5%, compared to gross profit of $54.1 million for the comparable prior year period.
• Adjusted gross profit, a non-GAAP financial measure, of $59.5 million for the three months ended September 30, 2025, up $1.9 million or 3.3%, compared to adjusted gross profit of $57.6 million for the comparable prior year period.
• Net income attributable to Radiant Logistics, Inc. of $1.3 million, or $0.03 per basic and fully diluted share for the three months ended September 30, 2025, compared to $3.4 million, or $0.07 per basic and fully diluted share for the comparable prior year period.
• Adjusted net income, a non-GAAP financial measure, of $4.5 million, or $0.09 per basic and fully diluted share for the three months ended September 30, 2025, down $3.4 million or 43.0%, compared to adjusted net income of $7.9 million, or $0.17 per basic and $0.16 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. Normalizing these results to exclude an unusual and one-time $1.3 million bad debt expense related to the bankruptcy of First Brands (the "$1.3 million First Brands adjustment"), adjusted net income would have been $5.5 million for the three months ended September 30, 2025.
• Adjusted EBITDA, a non-GAAP financial measure, of $6.8 million for the three months ended September 30, 2025, down $2.7 million or 28.4%, compared to adjusted EBITDA of $9.5 million for the comparable prior year period. Normalizing these results to exclude the $1.3 million First Brands adjustment, adjusted EBITDA would have been $8.1 million for the three months ended September 30, 2025.
• Adjusted EBITDA margin (adjusted EBITDA expressed as a percentage of adjusted gross profit), a non-GAAP financial measure, of 11.4% or 500 basis points, for the three months ended September 30, 2025, compared to adjusted EBITDA margin of 16.4% for the comparable prior year period. Normalizing these results to exclude the $1.3 million First Brands adjustment, adjusted EBITDA margin would have been 13.7% for the three months ended September 30, 2025.

Acquisition Recap

Effective September 1, 2025, the Company acquired an 80% ownership interest in Weport, S.A. de C.V. ("Weport"), a Mexico-based, privately held company that provides a full range of global transportation and logistics solutions tailored to the needs, specifications, and regulations for a variety of industries and clients from around the world.

The Company structured this transaction similar to its previous transactions, with a portion of the expected purchase price payable in subsequent periods based on the achievement of certain integration milestones and the future performance of the acquired operations.

Stock Buy-Back

We purchased 139,992 shares of our common stock at an average cost of $5.96 per share for an aggregate cost of $0.8 million during the three months ended September 30, 2025.

As of September 30, 2025, the Company had 47,207,846 shares outstanding.

Under the terms of our outstanding Rule 10b5-1 Repurchase Plan, we have purchased an additional 341,466 shares of Common Stock subsequent to September 30, 2025 and through November 7, 2025 for a total cost of $2.0 million inclusive of transaction costs.

CEO Bohn Crain Comments on Results

Notwithstanding the difficult freight environment, we delivered another quarter of solid financial results generating $6.8 million in adjusted EBITDA for our fiscal quarter year ended September 30, 2025," said Bohn Crain, Founder and CEO of Radiant Logistics. "Excluding the impact of an unusual and one-time $1.3 million bad debt expense related to First Brands bankruptcy, adjusted EBITDA would have been $8.1 million. And while much of the growth in our transportation revenues from the quarter came through our acquisition efforts, we are seeing interesting organic growth opportunities in connection with our contract logistics, customs services and emerging technology services offerings. We are early in our journey, but we are particularly excited 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.

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 (net debt of approximately $2.0 million as of September 30, 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. In this regard, in September we achieved a significant milestone with our acquisition of Mexico-based, Weport. Mexico is an important market for us and in addition to supporting Radiant's legacy and prospective customers across Mexico. And with respect to our stock buy-back program, we acquired $0.8 million of our stock through the three months ended September 30, 2025, and another $2.0 million of our stock subsequent to September 30, 2025 and through November 7, 2025. Looking ahead, we expect to continue to 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."

First Fiscal Quarter Ended September 30, 2025 – Financial Results

For the three months ended September 30, 2025, Radiant reported net income attributable to Radiant Logistics, Inc. of $1.3 million on $226.7 million of revenues, or $0.03 per basic and fully diluted share. For the three months ended September 30, 2024, Radiant reported net income attributable to Radiant Logistics, Inc. of $3.4 million on $203.6 million of revenues, or $0.07 per basic and fully diluted share.

For the three months ended September 30, 2025, Radiant reported adjusted net income, a non-GAAP financial measure, of $4.5 million, or $0.09 per basic and fully diluted share. For the three months ended September 30, 2024, Radiant reported adjusted net income of $7.9 million, or $0.17 per basic and $0.16 per fully diluted share. Normalizing these results to exclude the $1.3 million First Brands adjustment, adjusted net income would have been $5.5 million for the three months ended September 30, 2025.

For the three months ended September 30, 2025, Radiant reported adjusted EBITDA, a non-GAAP financial measure, of $6.8 million, compared to $9.5 million for the comparable prior year period. Normalizing these results to exclude the $1.3 million First Brands adjustment, adjusted EBITDA margin would have been 13.7% for the three months ended September 30, 2025.

Earnings Call and Webcast Access Information

Radiant Logistics, Inc. will host a conference call on Monday, November 10, 2025 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 Details

DATE/TIME:	Monday, November 10, 2025 at 4:30 PM Eastern
DIAL-IN	US (888) 506-0062; Intl. (973) 528-0011 (Participant Access Code: 682387)
REPLAY	November 11, 2025 at 9:30 AM Eastern to November 24, 2025 at 4:30 PM Eastern, US (877) 481-4010; Intl. (919) 882-2331 (Replay ID number: 53201)

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/2191/53201

About 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 and Canada. 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
	September 30,				June 30,
(In thousands, except share and per share data)	2025				2025
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	28,106			$	22,942
Accounts receivable, net of allowance of $3,526 and $2,128, respectively		148,002				134,911
Contract assets		5,749				6,904
Income tax receivable		3,010				2,194
Prepaid expenses and other current assets		10,403				12,299
Total current assets		195,270				179,250
Property, technology, and equipment, net		22,773				23,489
Goodwill		120,749				117,637
Intangible assets, net		49,878				49,123
Operating lease right-of-use assets		54,550				55,066
Deposits and other assets		2,109				2,209
Total other long-term assets		227,286				224,035
Total assets	$	445,329			$	426,774
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	79,979			$	74,411
Operating partner commissions payable		11,328				10,541
Accrued expenses		9,952				10,637
Current portion of operating lease liabilities		12,916				12,741
Current portion of finance lease liabilities		272				282
Current portion of contingent consideration		6,200				6,050
Other current liabilities		750				483
Total current liabilities		121,397				115,145
Notes payable		30,000				20,000
Operating lease liabilities, net of current portion		48,087				49,245
Finance lease liabilities, net of current portion		909				969
Contingent consideration, net of current portion		15,350				13,300
Deferred tax liabilities		2,216				1,782
Other long-term liabilities		210				248
Total long-term liabilities		96,772				85,544
Total liabilities		218,169				200,689
Equity:
Common stock, $0.001 par value, 100,000,000 shares authorized; 52,528,861 and    52,324,201 shares issued, and 47,207,846 and 47,143,178 shares outstanding,    respectively		34				34
Additional paid-in capital		110,767				110,588
Treasury stock, at cost, 5,321,015 and 5,181,023 shares, respectively		(32,798)				(31,964)
Retained earnings		151,862				150,569
Accumulated other comprehensive loss		(4,173)				(3,211)
Total Radiant Logistics, Inc. stockholders' equity		225,692				226,016
Noncontrolling interest		1,468				69
Total equity		227,160				226,085
Total liabilities and equity	$	445,329			$	426,774

 

RADIANT LOGISTICS, INC.  Consolidated Statements of Comprehensive Income
	Three Months Ended September 30,
(In thousands, except share and per share data)	2025				2024
Revenues	$	226,655			$	203,565
Operating expenses:
Cost of transportation and other services		167,202				146,011
Operating partner commissions		19,996				18,801
Personnel costs		21,571				19,623
Selling, general and administrative expenses		12,074				10,321
Depreciation and amortization		3,526				4,805
Change in fair value of contingent consideration		200				200
Total operating expenses		224,569				199,761
Income from operations		2,086				3,804
Other income (expense):
Interest income		44				465
Interest expense		(605)				(237)
Foreign currency transaction gain (loss)		4				(62)
Change in fair value of interest rate swap contracts		—				(440)
Other		85				1,039
Total other income (expense)		(472)				765
Income before income taxes		1,614				4,569
Income tax expense		(339)				(1,145)
Net income		1,275				3,424
Net loss (income) attributable to noncontrolling interest		18				(48)
Net income attributable to Radiant Logistics, Inc.	$	1,293			$	3,376
Other Comprehensive income attributable to Radiant Logistics, Inc.:
Foreign currency translation gain (loss)		(962)				640
Comprehensive loss attributable to noncontrolling interest		13				—
Comprehensive income attributable to Radiant Logistics, Inc.	$	326			$	4,064
Income per share:
Basic and Diluted	$	0.03			$	0.07
Weighted average common shares outstanding:
Basic		47,166,166				46,721,238
Diluted		48,738,595				48,585,811

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 September 30,
Reconciliation of adjusted gross profit to GAAP gross profit	2025				2024
Revenues	$	226,655			$	203,565
Cost of transportation and other services (exclusive of     depreciation and amortization, shown separately below)		(167,202)				(146,011)
Depreciation and amortization		(2,339)				(3,488)
GAAP gross profit	$	57,114			$	54,066
Depreciation and amortization		2,339				3,488
Adjusted gross profit	$	59,453			$	57,554
GAAP gross profit percentage		25.2	%			26.6	%
Adjusted gross profit percentage		26.2	%			28.3	%
Reconciliation of GAAP net income to adjusted EBITDA	2025				2024
Net income attributable to Radiant Logistics, Inc.	$	1,293			$	3,376
Income tax expense		339				1,145
Depreciation and amortization (1)		3,526				4,919
Net interest expense		561				(228)
Share-based compensation		424				163
Change in fair value of contingent consideration		200				200
Lease termination costs		108				—
Change in fair value of interest rate swap contracts		—				440
Other (2)		346				(563)
Adjusted EBITDA		6,797				9,452
Adjusted EBITDA as a % of adjusted gross profit (3)		11.4	%			16.4	%
(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 September 30,
Reconciliation of GAAP net income to adjusted net income	2025				2024
GAAP net income attributable to Radiant Logistics, Inc.	$	1,293			$	3,376
Adjustments to net income:
Income tax expense		339				1,145
Depreciation and amortization		3,526				4,805
Change in fair value of contingent consideration		200				200
Lease termination costs		108				—
Change in fair value of interest rate swap contracts		—				440
Other		450				475
Adjusted net income before income taxes		5,916				10,441
Provision for income taxes at 24.5%		(1,449)				(2,558)
Adjusted net income	$	4,467			$	7,883
Adjusted net income per common share:
Basic	$	0.09			$	0.17
Diluted	$	0.09			$	0.16
Weighted average common shares outstanding:
Basic		47,166,166				46,721,238
Diluted		48,738,595				48,585,811

 

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SOURCE Radiant Logistics, Inc.

FAQ

What were Radiant Logistics (RLGT) Q1 FY2026 revenues and YoY change?

Radiant reported $226.7 million in revenue for the quarter ended Sept 30, 2025, an 11.3% increase year‑over‑year.

How did RLGT's adjusted EBITDA and margin perform in Q1 ended Sept 30, 2025?

Adjusted EBITDA was $6.8 million, down 28.4% year‑over‑year, and adjusted EBITDA margin was 11.4%, down ~500 basis points.

What acquisition did Radiant (RLGT) complete in September 2025 and what stake was acquired?

Effective Sept 1, 2025, Radiant acquired an 80% ownership interest in Weport, a Mexico‑based logistics company.

How much stock did RLGT repurchase in Q1 and subsequently through Nov 7, 2025?

The company repurchased 139,992 shares for $0.8M during the quarter and an additional 341,466 shares for $2.0M through Nov 7, 2025.

What was Radiant's reported net income and diluted EPS for Q1 ended Sept 30, 2025?

Net income attributable to Radiant was $1.3 million, or $0.03 per basic and diluted share for the quarter.

What is Radiant's reported net debt position as of Sept 30, 2025?

Radiant reported being virtually debt free with net debt of approximately $2.0 million as of Sept 30, 2025.

When is Radiant Logistics' earnings conference call for the Q1 report and how to access it?

The conference call is on Nov 10, 2025 at 4:30 PM ET with dial‑in and a live webcast available on Radiant's investor website.