Radiant(RLGT) - 2025 Q2 - Quarterly Results

Financial Performance - Revenues for the second fiscal quarter ended December 31, 2024, were $264.5 million, an increase of$ 63.4 million or 31.5% compared to $201.1 million in the prior year period[3] - Gross profit for the second fiscal quarter was$ 59.6 million, up $0.8 million or 1.4% from$ 58.8 million in the comparable prior year period[3] - Net income attributable to Radiant Logistics for the second fiscal quarter was $6.5 million, or$ 0.14 per basic share, a significant increase of $5.5 million or 550.0% compared to$ 1.0 million in the prior year[3] - Adjusted net income for the second fiscal quarter was $10.7 million, or$ 0.23 per basic share, up $5.2 million or 94.5% from$ 5.5 million in the prior year[10] - Adjusted EBITDA for the second fiscal quarter was $12.0 million, an increase of$ 4.3 million or 55.8% compared to $7.7 million in the prior year[11] - For the six months ended December 31, 2024, the company reported revenues of$ 468.1 million and net income of $9.8 million, compared to$ 411.9 million and $3.6 million in the prior year[12] - Revenues for the three months ended December 31, 2024, were$ 264,544,000, representing a 31.5% increase from $201,082,000 in the same period of 2023[24] - Net income attributable to Radiant Logistics, Inc. for the three months ended December 31, 2024, was$ 6,467,000, compared to $985,000 in the same period of 2023, marking a significant increase of 558.5%[24] - Adjusted net income for the six months ended December 31, 2024, reached$ 18,578,000, a 54.4% increase from $12,046,000 in the same period of 2023[32] - Basic adjusted net income per share rose to$ 0.23 for Q4 2024, compared to $0.12 in Q4 2023, marking a 91.7% increase[32] Operational Efficiency - The adjusted EBITDA margin increased to 19.0%, up 660 basis points from 12.4% in the prior year[3] - Adjusted EBITDA for the three months ended December 31, 2024, was$ 12,016,000, up from $7,708,000 in 2023, reflecting a growth of 56.5%[31] - The adjusted EBITDA margin improved to 19.0% in Q4 2024, compared to 12.4% in Q4 2023, indicating enhanced operational efficiency[31] Assets and Liabilities - Total assets increased to$ 386,761,000 as of December 31, 2024, compared to $371,185,000 as of June 30, 2024, reflecting a growth of 4.3%[22] - Total liabilities rose to$ 172,213,000 as of December 31, 2024, compared to $161,676,000 as of June 30, 2024, indicating an increase of 6.3%[22] - Cash and cash equivalents decreased to$ 19,908,000 as of December 31, 2024, down from $24,874,000 as of June 30, 2024, a decline of 20.1%[22] - The company’s total equity increased to$ 214,548,000 as of December 31, 2024, compared to $209,509,000 as of June 30, 2024, reflecting a growth of 2.5%[22] Acquisitions and Market Presence - The company completed three acquisitions in the last quarter, including Foundation Logistics, Focus Logistics, and TCB Transportation, enhancing its service offerings and market presence[4][5][6] Challenges and Market Conditions - The company expects near-term results to be challenged by market headwinds and tariffs affecting trade with China, Mexico, and Canada[8] Shareholder Information - The weighted average common shares outstanding for the three months ended December 31, 2024, were 46,942,639 for basic shares and 48,983,153 for diluted shares[24] - The weighted average common shares outstanding for diluted earnings was 48,983,153 in Q4 2024, slightly down from 48,907,452 in Q4 2023[32] Other Financial Metrics - The company reported a GAAP gross profit of$ 59,598,000 for the three months ended December 31, 2024, with a GAAP gross profit percentage of 22.5%[30] - Adjusted gross profit for the three months ended December 31, 2024, was $63,305,000, up from$ 61,997,000 in 2023, with an adjusted gross profit percentage of 23.9%[30] - Operating expenses for the three months ended December 31, 2024, totaled $255,822,000, compared to$ 199,418,000 in the same period of 2023, an increase of 28.3%[24] - Depreciation and amortization expenses for the three months ended December 31, 2024, were $5,038,000, compared to$ 4,479,000 in 2023, an increase of 12.5%[31] - The company incurred litigation costs of $130,000 in Q4 2024, down from$ 741,000 in Q4 2023, showing a reduction of 82.5%[32] - The company reported a foreign currency transaction loss of $181,000 in Q4 2024, compared to a gain of$ 79,000 in Q4 2023[31]