Financial Data and Key Metrics Changes - Operating revenue for Q2 2025 was $115.5 million, up 21.4% from the previous quarter and 8.4% higher than Q2 2024 [14] - Units delivered reached 631,426, representing a 28% increase compared to the previous quarter and a 24% increase from Q2 2024 [14] - Adjusted operating income for Q2 was greater than the prior three quarters combined, indicating operational improvements [8] Business Line Data and Key Metrics Changes - The OEM contract business generated approximately 93% of total transportation revenue in the quarter, up from 91% in the previous quarter [15] - Revenue from dedicated fleet service was $3.8 million, down from $4.3 million in Q1 and $7.3 million in Q2 2024 [16] - Revenue from spot opportunities comprised only 2.7% of total revenue, continuing a trend from the last four quarters [17] Market Data and Key Metrics Changes - The market strength experienced at the end of Q1 continued into April, with revenue and unit volumes up 1325% year over year [7] - The auto SAAR slowed to an average of around 15,500,000 units in May and June, but July saw a stronger performance with a SAAR of 16,400,000 [8][10] - For the combined May and June months, volume finished up 24% year over year, while revenue was up nearly 14% compared to the same period in 2024 [7] Company Strategy and Development Direction - The company remains focused on long-term objectives, including increasing market share and effective integration of merged operating companies [10] - The integration of Brothers Auto Transport has gone smoothly, with all operating companies now using a common accounting platform [12] - The company aims to control costs in a weaker market and is advancing targeted cost savings initiatives [13] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the economic impacts of tariffs and policy changes, viewing the resolution of policy uncertainty as a positive for the near term [10] - The company expects a sequential revenue decline of 25% in August compared to the previous quarter, but anticipates maintaining adjusted operating ratios [19] - For the full year, the company expects top-line growth year over year between 5% and 10% [19] Other Important Information - The company had approximately $13.6 million in cash and equivalents at the end of Q2, up from $10.9 million at the end of the previous quarter [17] - Aggregate debt balances at quarter end were approximately $90.2 million, with net debt of $76.6 million [18] - Total common shares outstanding increased to 27.7 million, up from 27.1 million at the end of the previous quarter [19] Q&A Session Summary Question: Cost Control Measures - Management indicated that there are incremental opportunities for cost reduction focused on procurement, facility consolidation, and personnel synergies [22][23] Question: Market Share Opportunities - Management noted that there is meaningful opportunity for margin improvements through organic growth and cost reduction initiatives [26] Question: Price and Yield Concerns - Management clarified that the sequential deterioration in yields per VIN was primarily due to customer mix rather than core rate weakness [34][35] Question: Bid Market Dynamics - Management confirmed that there is potential for market share gains as OEMs are looking to optimize their transportation supply chains [38][39] Question: Free Cash Flow Projections - Management stated that expected free cash flow from operations will be between $30 million and $35 million after CapEx, representing a 20% cash return on the current market cap [18][41] Question: Additional M&A Opportunities - Management is continuously exploring M&A opportunities but indicated that there are no imminent deals [52][54]

[Second Quarter 2025 Highlights](index=1&type=section&id=Second%20Quarter%202025%20Highlights) [Key Financial and Operational Metrics](index=1&type=section&id=Key%20Financial%20and%20Operational%20Metrics) Proficient Auto Logistics reported significant sequential and year-over-year growth in total operating revenue and units delivered for Q2 2025, with GAAP operating income declining year-over-year but adjusted operating income improving sequentially Q2 2025 Key Financial and Operational Metrics | Metric | Q2 2025 | Q1 2025 | Q2 2024 | Q-o-Q Change (vs Q1 2025) | Y-o-Y Change (vs Q2 2024) | | :---------------------- | :-------- | :-------- | :-------- | :----------------------- | :----------------------- | | Total Operating Revenue | $115.5 million | N/A | N/A | +21.4% | +8.4% | | Total Operating Income (Loss) | $0.1 million | ($2.4) million | $7.0 million | N/A (from loss to income) | -98.6% | | Adjusted Operating Income | $3.8 million | $1.2 million | $8.7 million | +216.7% | -56.4% | | Adjusted Operating Ratio | 96.7% | 98.7% | 91.8% | -2.0 pp | +4.9 pp | | Total Units delivered | 631,426 | N/A | N/A | +28% | +24% | [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Rick O'Dell highlighted stronger Q2 revenue from market share gains and the Brothers acquisition, noting improved sequential profitability while emphasizing ongoing cost control amidst a weaker base market and volatile automotive sales - Stronger Q2 revenue attributed to market share gains and the Brothers acquisition, demonstrating strategic execution in an uncertain environment[3](index=3&type=chunk) - Improved profitability sequentially, but further work is needed to control costs in a base market that continues to be weaker than expected[3](index=3&type=chunk) - Automotive sales rates have been volatile due to changing tariff policy and cautious large purchase behavior by consumers[3](index=3&type=chunk) [Company Background and Context](index=1&type=section&id=Company%20Background%20and%20Context) [Business Description](index=4&type=section&id=About%20Proficient%20Auto%20Logistics) Proficient Auto Logistics is a leading North American specialized freight company providing comprehensive auto transportation and logistics, primarily delivering finished vehicles to dealerships - Proficient Auto Logistics is a leading specialized freight company focused on providing auto transportation and logistics services in North America[16](index=16&type=chunk) - Services primarily involve transporting finished vehicles from automotive production facilities, marine ports of entry, or regional rail yards to auto dealerships[16](index=16&type=chunk) [IPO and Acquisition Overview](index=1&type=section&id=IPO%20and%20Acquisition%20Overview) Proficient completed its IPO and acquired five Founding Companies in May 2024, subsequently expanding operations through ATG and BAT acquisitions to establish one of North America's largest auto transportation fleets - Proficient completed its IPO and acquired five Founding Companies (Delta Auto Transport, Deluxe Auto Carriers, Sierra Mountain Group, Proficient Auto Transport, and Tribeca Automotive Inc.) on **May 13, 2024**[4](index=4&type=chunk) - Subsequent acquisitions include Auto Transport Group (ATG) on **August 16, 2024**, and Brothers Auto Transport (BAT) on **April 1, 2025**[7](index=7&type=chunk)[9](index=9&type=chunk) - Through these combinations, the company operates one of the largest auto transportation fleets in North America[16](index=16&type=chunk) [Unaudited Combined Financial Results](index=1&type=section&id=Unaudited%20Combined%20Financial%20Results) [Summary Financial Performance](index=1&type=section&id=Summary%20Financial%20Performance) Proficient's Q2 2025 saw significant sequential increases in total operating revenue and a return to positive operating income, though Adjusted Operating Income and Adjusted EBITDA were lower year-over-year due to increased non-cash acquisition expenses Summary Unaudited Combined Financial Information ($000s) | Metric | Q2 2025 | Q1 2025 | Q2 2024 | Q-o-Q Change | Y-o-Y Change | | :---------------------- | :------ | :------ | :------ | :----------- | :----------- | | Total Operating Revenue | $115,547 | $95,206 | $106,607 | +21.4% | +8.4% | | Total Operating (Loss) Income | $125 | ($2,363) | $7,041 | N/A | -98.2% | | Adjusted Operating Income | $3,801 | $1,236 | $8,730 | +207.5% | -56.4% | | Adjusted Operating Ratio | 96.7% | 98.7% | 91.8% | -2.0 pp | +4.9 pp | | (Loss) Income before income taxes | ($1,882) | ($3,894) | $5,793 | N/A | N/A | | Adjusted EBITDA | $11,279 | $7,764 | $12,414 | +45.3% | -9.2% | | Adjusted EBITDA Margin | 9.8% | 8.2% | 11.6% | +1.6 pp | -1.8 pp | [Select Operating Metrics](index=3&type=section&id=Revenue%20and%20Profitability) Unit volumes increased significantly sequentially and year-over-year, but revenue per unit declined due to customer mix and fewer spot buy opportunities, while company deliveries revenue proportion increased and dedicated fleet revenue decreased Select Operating Metrics | Metric | Q2 2025 | Q1 2025 | Q2 2024 | Q-o-Q Change (vs Q1 2025) | Y-o-Y Change (vs Q2 2024) | | :-------------------------- | :-------- | :-------- | :-------- | :----------------------- | :----------------------- | | Unit Volume - Company Deliveries | 220,578 | 163,754 | 152,714 | +34.7% | +44.4% | | Revenue / Unit - Company Deliveries | $178.82 | $185.38 | $212.25 | -3.5% | -15.8% | | Unit Volume - Subhaulers | 410,848 | 330,755 | 354,998 | +24.2% | +15.7% | | Revenue / Unit - Subhaulers | $166.50 | $173.14 | $190.77 | -3.8% | -12.7% | | Percent Revenue, Company Deliveries | 37% | 35% | 32% | +2 pp | +5 pp | | Percent Revenue, Subhaulers | 63% | 65% | 68% | -2 pp | -5 pp | - Total revenue increased **$20.3 million (21%)** sequentially and **$8.9 million (8.4%)** year-over-year, while unit volumes were up approximately **28%** sequentially and **24%** year-over-year[10](index=10&type=chunk) - The dedicated fleet portion of Proficient's revenue was **$3.8 million** in Q2 2025, a decrease from **$4.3 million** in Q1 2025 and **$7.3 million** in Q2 2024[10](index=10&type=chunk) [Balance Sheet and Liquidity](index=3&type=section&id=Balance%20Sheet) Proficient ended Q2 2025 with **$13.6 million** cash, **$90.2 million** total debt, **$76.6 million** net debt, and a **2.2x** net leverage ratio, having fully utilized its term debt facility for the BAT acquisition Key Balance Sheet and Liquidity Metrics (as of June 30, 2025) | Metric | Amount | | :-------------------- | :----------- | | Cash | $13.6 million | | Total Debt | $90.2 million | | Line of Credit Drawn | $5.0 million | | Net Debt | $76.6 million | | Net Leverage Ratio (TTM Adj. EBITDA) | 2.2x | - The **$25.0 million** term debt facility was fully utilized during the quarter to fund the cash portion of the BAT acquisition[13](index=13&type=chunk) [Condensed Consolidated Financial Statements](index=6&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Balance Sheets](index=6&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of June 30, 2025, Proficient reported total assets of **$520.5 million**, an increase from December 31, 2024, driven by accounts receivable, property, equipment, and goodwill, with total liabilities also increasing and stockholders' equity modestly rising Condensed Consolidated Balance Sheets Summary | Metric | June 30, 2025 | December 31, 2024 | Change | | :-------------------------- | :-------------- | :---------------- | :------- | | Total Current Assets | $71,946,946 | $67,687,442 | +$4,259,504 | | Property and equipment, net | $127,655,334 | $122,636,636 | +$5,018,698 | | Goodwill | $174,090,117 | $169,056,675 | +$5,033,442 | | Intangible assets, net | $129,840,169 | $132,490,640 | -$2,650,471 | | Total Assets | $520,458,060 | $508,086,944 | +$12,371,116 | | Total Current Liabilities | $62,170,001 | $52,623,931 | +$9,546,070 | | Total Liabilities | $180,929,753 | $170,107,421 | +$10,822,332 | | Total Stockholders' Equity | $339,528,307 | $337,979,523 | +$1,548,784 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) For Q2 2025, Proficient reported total operating revenue of **$115.5 million** and a net loss of **$1.56 million** or **($0.06)** per share, with the six-month period showing a net loss of **$4.75 million** or **($0.17)** per share, primarily due to significant purchased transportation and depreciation expenses Condensed Consolidated Statements of Operations Summary | Metric | Three months ended June 30, 2025 | Six months ended June 30, 2025 | | :-------------------------------- | :------------------------------- | :----------------------------- | | Total operating revenue | $115,546,586 | $210,752,607 | | Total Operating Expenses | $115,421,228 | $212,989,755 | | Operating (loss) income | $125,358 | ($2,237,148) | | Loss before income taxes | ($1,882,154) | ($5,776,460) | | Net loss | ($1,556,833) | ($4,748,518) | | Loss Per Share (Basic & Diluted) | ($0.06) | ($0.17) | | Weighted Average Shares (Basic & Diluted) | 27,611,515 | 27,341,813 | - Key operating expenses for the three months ended June 30, 2025, included purchased transportation (**$58.9 million**), salaries, wages and benefits (**$22.5 million**), and depreciation (**$7.6 million**)[27](index=27&type=chunk) [Non-GAAP Financial Measures](index=1&type=section&id=Non-GAAP%20Financial%20Measures) [Definition and Purpose](index=5&type=section&id=Non-GAAP%20Financial%20Measure) Proficient's management uses non-GAAP measures like Adjusted Operating Income, Adjusted Operating Ratio, and Adjusted EBITDA to assess performance, facilitate comparisons, and inform strategic decisions by excluding non-cash and non-recurring items - Adjusted Operating Income and Adjusted Operating Ratio are used to compare financial reporting periods by excluding non-cash stock-based compensation and amortization of intangibles resulting from acquisitions[8](index=8&type=chunk) - Adjusted EBITDA and Adjusted EBITDA Margin are reviewed by management to measure operating performance, financial condition, and make strategic decisions, providing useful information by excluding certain non-recurring items[8](index=8&type=chunk)[19](index=19&type=chunk) - Adjusted EBITDA is defined as net income (loss) for the period adjusted for interest expense, net, income tax expense (benefit), depreciation and amortization expense, and stock compensation expense[21](index=21&type=chunk) [Adjusted Operating Income Reconciliation](index=2&type=section&id=Adjusted%20Operating%20Income%20Reconciliation) For Q2 2025, Adjusted Operating Income of **$3.8 million** was derived by adding back **$2.46 million** in amortization of intangibles and **$1.22 million** in stock compensation expense to the Total Operating Income of **$0.1 million** Adjusted Operating Income Reconciliation ($000s) | Metric | Q2 2025 | Q1 2025 | Q2 2024 | | :-------------------------- | :------ | :------ | :------ | | Total Operating (Loss) Income | $125 | ($2,363) | $7,041 | | Addback: Amortization of Intangibles | $2,455 | $2,416 | $1,076 | | Addback: Stock Compensation expense | $1,221 | $1,183 | $613 | | Adjusted Operating Income | $3,801 | $1,236 | $8,730 | [Adjusted EBITDA Reconciliation](index=2&type=section&id=Adjusted%20EBITDA%20Reconciliation) For Q2 2025, Adjusted EBITDA was **$11.3 million**, calculated by adding back depreciation & amortization, stock compensation, and interest expense to Loss before income taxes, with trailing twelve months Adjusted EBITDA at **$35.2 million** Adjusted EBITDA Reconciliation (Quarterly, $000s) | Metric | Q2 2025 | Q1 2025 | Q2 2024 | | :-------------------------- | :------ | :------ | :------ | | (Loss) Income before income taxes | ($1,882) | ($3,894) | $5,793 | | Addback: Depreciation & Amortization | $10,102 | $8,904 | $4,761 | | Addback: Stock Compensation Expense | $1,221 | $1,183 | $613 | | Addback: Interest Expense | $1,838 | $1,571 | $1,247 | | Adjusted EBITDA | $11,279 | $7,764 | $12,414 | Adjusted EBITDA Reconciliation (Trailing Twelve Months, $000s) | Metric | Twelve months ending 6/30/2025 | | :-------------------------- | :----------------------------- | | (Loss) Income before income taxes | ($12,105) | | Addback: Depreciation & Amortization | $35,918 | | Addback: Stock Compensation Expense | $4,611 | | Addback: Interest Expense | $6,777 | | Adjusted EBITDA | $35,201 | [Corporate Information](index=4&type=section&id=Corporate%20Information) [Conference Call Information](index=4&type=section&id=Conference%20Call) Proficient Auto Logistics will host an investor conference call on August 11, 2025, at 5:00 p.m. EDT to discuss Q2 2025 financial results, offering registration and webcast options - An investor conference call is scheduled for **August 11, 2025, at 5:00 p.m. EDT** to discuss the Q2 2025 financial results[15](index=15&type=chunk) - Investors can join the conference call by registering through a provided link or access a listen-only webcast[15](index=15&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Cautionary%20Statement%20Regarding%20Forward-Looking%20Statements) This press release contains forward-looking statements about future business results and financial conditions, subject to substantial risks and uncertainties detailed in the company's Annual Report on Form 10-K, with no obligation to update unless legally required - The press release includes forward-looking statements concerning possible future results of the business, financial condition, and operations, which involve substantial risks and uncertainties[17](index=17&type=chunk) - Readers should not place undue reliance on these statements, as actual results, events, or circumstances could differ materially from those projected, and the company undertakes no obligation to update them except as required by law[17](index=17&type=chunk)[18](index=18&type=chunk)

Core Insights - Proficient Auto Logistics, Inc. reported a total operating revenue of $115.5 million for Q2 2025, marking a 21.4% increase from Q1 2025 and an 8.4% increase from Q2 2024 [2][10] - The company achieved an adjusted operating income of $3.8 million in Q2 2025, compared to $1.2 million in Q1 2025 and $8.7 million in Q2 2024 [2][10] - Total units delivered reached 631,426, reflecting a 28% increase from Q1 2025 and a 24% increase from Q2 2024 [2][10] Financial Performance - Total operating income for Q2 2025 was $0.1 million, a recovery from a loss of $2.4 million in Q1 2025, but down from $7.0 million in Q2 2024 [2][10] - The adjusted operating ratio improved to 96.7% in Q2 2025 from 98.7% in Q1 2025, but was higher than 91.8% in Q2 2024 [2][10] - Adjusted EBITDA for the trailing twelve months ending June 30, 2025, was $35.2 million, with a net leverage ratio of 2.2x [12][23] Operational Metrics - The company delivered 220,578 units through company drivers, with a revenue per unit of $178.82, while subhaulers delivered 410,848 units at a revenue per unit of $166.50 [8][10] - The proportion of revenue from company deliveries increased to 37% in Q2 2025, up from 35% in Q1 2025 and 32% in Q2 2024 [8][10] Balance Sheet Overview - As of June 30, 2025, Proficient had $13.6 million in cash and $90.2 million in total debt, resulting in a net debt of approximately $76.6 million [12][13] - The total assets of the company were reported at $520.5 million, with total liabilities amounting to $180.9 million [24][26] Strategic Commentary - The CEO highlighted that the revenue growth was driven by market share gains and strategic acquisitions, emphasizing the need for cost control in a challenging market environment [2][10] - The company aims to maintain high-quality service while efficiently scaling operations through share gains and acquisitions [2][10]

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against Proficient Auto Logistics, Inc. for possible violations of federal securities laws and unlawful business practices [2]. Financial Performance - Proficient Auto reported a 0.4% year-over-year decrease in total operating revenue, amounting to $95.2 million for the first quarter ended March 31, 2025 [3]. - The company experienced a total operating loss of $2.4 million during the same quarter [3]. - Following the financial results announcement, Proficient Auto's stock price declined by $0.40 per share, or 4.93%, closing at $7.72 per share on May 8, 2025 [3]. Legal Context - The law firm is encouraging investors who suffered losses in Proficient Auto to contact them to discuss their legal rights and options [1][4]. - The investigation aims to determine if Proficient Auto has engaged in any unlawful business practices that could affect shareholders [2]. Firm Background - Bragar Eagel & Squire, P.C. is a nationally recognized law firm that represents individual and institutional investors in various types of litigation across state and federal courts [5].

Core Insights - Bragar Eagel & Squire, P.C. is investigating potential claims against Proficient Auto Logistics, Inc. for possible violations of federal securities laws and unlawful business practices [1][2] Financial Performance - Proficient Auto reported a 0.4% year-over-year decrease in total operating revenue, amounting to $95.2 million for the first quarter ended March 31, 2025 [2] - The company experienced a total operating loss of $2.4 million during the same quarter [2] - Following the financial results announcement, Proficient Auto's stock price fell by $0.40 per share, or 4.93%, closing at $7.72 per share on May 8, 2025 [2]

Core Viewpoint - The Schall Law Firm is investigating Proficient Auto Logistics, Inc. for potential violations of securities laws related to misleading statements and undisclosed information affecting investors [1][2]. Group 1: Investigation Details - The investigation centers on whether Proficient Auto issued false or misleading statements and failed to disclose relevant information to investors [2]. - Following the announcement of Q1 financial results on May 7, 2025, Proficient Auto reported a decline in year-over-year total operating revenue and a net operating loss [2]. - As a result of the negative financial news, Proficient Auto's shares fell by more than 4.9% the following day [2]. Group 2: Legal Representation - The Schall Law Firm offers free consultations for shareholders who may have suffered losses due to the company's actions [3]. - The firm specializes in securities class action lawsuits and shareholder rights litigation, representing investors globally [3].

Core Insights - Proficient Auto Logistics (PAL) has been awarded the 2025 Quality Award for Finished Vehicle Logistics in the truck category by Toyota Logistics Services (TLS) [1][2] - The award highlights PAL's commitment to quality service, adaptability, and high service standards in a challenging automotive market [2][3] - PAL specializes in finished vehicle transport, providing reliable and flexible auto logistics solutions across North America [3][4] Company Overview - Proficient Auto Logistics is a leading specialized freight company focused on auto transportation and logistics services [4] - The company operates one of the largest auto transportation fleets in North America, formed by the combination of seven industry-leading operating companies since its IPO in 2024 [4] - PAL's services primarily involve transporting finished vehicles from production facilities, marine ports, or regional rail yards to dealerships nationwide [4]

Group 1 - The investigation by Pomerantz LLP focuses on potential securities fraud or unlawful business practices by Proficient Auto Logistics, Inc. and its officers or directors [1] - Proficient Auto reported a 0.4% year-over-year decrease in total operating revenue to $95.2 million for the first quarter ended March 31, 2025, along with a total operating loss of $2.4 million [3] - Following the financial results announcement, Proficient Auto's stock price dropped by $0.40 per share, or 4.93%, closing at $7.72 per share on May 8, 2025 [3] Group 2 - Pomerantz LLP is recognized as a leading firm in corporate, securities, and antitrust class litigation, with a history of fighting for victims of securities fraud and corporate misconduct [4] - The firm has a legacy of recovering multimillion-dollar damages awards for class members over its 80-year history [4]

Company Announcements - Proficient Auto Logistics, Inc. will participate in the William Blair Growth Stock Conference on June 4, 2025, with key executives attending [1] - An investor conference call is scheduled for August 11, 2025, at 5:00 p.m. EDT to discuss financial results for the three months ended June 30, 2025, with a press release to be issued at approximately 4:00 p.m. EDT on the same day [2] Company Overview - Proficient Auto Logistics is a leading specialized freight company focused on auto transportation and logistics services, operating one of the largest auto transportation fleets in North America [3]

Group 1 - Robbins LLP is investigating Proficient Auto Logistics, Inc. for potential violations of securities laws and breaches of fiduciary duties by its officers and directors [1] - Proficient Auto Logistics specializes in auto transportation and logistics services in North America [1] - Shareholders who have incurred losses in their investment in Proficient Auto Logistics are encouraged to seek information about their rights [2] Group 2 - Robbins LLP operates on a contingency fee basis, meaning shareholders do not pay fees or expenses unless they recover losses [3] - Since its inception in 2002, Robbins LLP has recovered over $1 billion for shareholders [3]