Financial Performance - Revenues for the three months ended September 30, 2024, were $203.565 million, a decrease of 3.8% compared to $210.797 million for the same period in 2023[5] - Net income attributable to Radiant Logistics, Inc. for the quarter was $3.376 million, representing an increase of 28.8% from $2.622 million in the prior year[5] - Total gross revenues for the three months ended September 30, 2024, were $203,565,000, a decrease from $210,797,000 for the same period in 2023, representing a decline of approximately 3.2%[35] - Net income attributable to Radiant Logistics, Inc. for the three months ended September 30, 2024, was $9.166 million, compared to $7.496 million for the same period in 2023, representing a 22.2% increase[83] - Adjusted EBITDA for the three months ended September 30, 2024, was $10.353 million, compared to $8.895 million for the same period in 2023, reflecting a 16.4% increase[83] Assets and Liabilities - Total current assets decreased to $157.759 million as of September 30, 2024, down from $164.205 million at the end of June 2024[4] - Total assets increased to $375.258 million as of September 30, 2024, compared to $371.185 million at the end of June 2024[4] - Total liabilities were $162.770 million as of September 30, 2024, slightly up from $161.676 million at the end of June 2024[4] - Cash and cash equivalents decreased to $10.448 million as of September 30, 2024, down from $24.874 million at the end of June 2024[4] Shareholder Information - The company had 46,915,415 shares outstanding as of November 4, 2024[2] - The company repurchased common stock totaling $708,000 during the three months ended September 30, 2024, compared to $230,000 in the same period of 2023[8] - A total of 129,360 shares of common stock were repurchased at an average price of $5.47 per share during the three months ended September 30, 2024[96] - The maximum number of shares that may yet be purchased under the repurchase program is 4,676,592 shares[96] Operating Expenses - Operating expenses totaled $199.761 million for the quarter, a decrease from $207.136 million in the same quarter of 2023[5] - Selling, general and administrative (SG&A) expenses increased by $0.8 million, or 8.9%, to $10.3 million for the three months ended September 30, 2024, driven by increased technology spending and higher travel costs[82] - Personnel costs remained flat at $19.6 million for the three months ended September 30, 2024, but as a percentage of adjusted gross profit, they increased to 34.1% from 32.3%[82] Cash Flow - Cash provided by operating activities for the three months ended September 30, 2024, was $205,000, a significant decrease from $7,886,000 in the same period of 2023[8] - Net cash provided by operating activities decreased to $0.2 million for the three months ended September 30, 2024, down from $7.9 million in the same period of 2023, a decline of $7.7 million[85] - Cash used for investing activities increased significantly to $13.5 million for the three months ended September 30, 2024, compared to $2.5 million in the same period of 2023, primarily due to $11.4 million paid for acquisitions[85] Acquisitions - The company completed an acquisition during the three months ended September 30, 2024, with a net cash outflow of $11,444,000[8] - The company acquired Foundation Logistics & Services, LLC on September 1, 2024, with goodwill recorded in the United States operating segment[69] - The company also acquired the assets and operations of Focus Logistics, Inc. effective October 1, 2024, to enhance its offerings in the Detroit area[70] Revenue Recognition - The Company recognizes revenue primarily from transportation services, which include both domestic and international freight arrangements, with revenue recognized upon the transfer of control over the requisite transit period[22] - Transportation revenue for the three months ended September 30, 2024, was $191.8 million, a decrease of $6.2 million or 3.1% compared to $198.0 million in 2023[79] - Adjusted transportation gross profit was $50.8 million for the three months ended September 30, 2024, down from $53.8 million in 2023, with net transportation margins decreasing from 27.2% to 26.5%[79] Internal Controls and Compliance - The company reported a material weakness in internal controls over financial reporting related to the recording and processing of revenue transactions as of September 30, 2024[91] - Management made significant progress in designing and implementing new controls to mitigate risks associated with revenue accuracy during fiscal year 2024[92] - Enhanced procedures and controls have been implemented to improve the accuracy of revenue accruals[92] - Management believes that the suite of controls implemented will provide reasonable assurance against material misstatements in revenue[92] Economic Environment - The global economic environment remains uncertain, with inflation and geopolitical tensions potentially impacting business and financial results[74]

Continues to deliver solid financial results in face of continued market headwinds; Further progress in green-field and strategic operating partner acquisitions; Well positioned for further growth with $200 million credit facilityRENTON, Wash., Nov. 12, 2024 /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, 2024.Financial Highlights – T ...

Call Scheduled for Tuesday, November 12, at 4:30 PM EasternRENTON, Wash., Nov. 5, 2024 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE American: RLGT), a technology-enabled global transportation and value-added logistics services company, will host a conference call on Tuesday, November 12, 2024 at 4:30 PM Eastern to discuss the Company's financial results for the three months ended September 30, 2024.The conference call is open to all interested parties, including individual investors and press. Bohn Crain, ...

RENTON, Wash., Sept. 5, 2024 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE American: RLGT), today announced the appointment of industry veteran Laurent Grousseau as its Senior Vice President and Chief Technology Officer ("CTO"). Mr. Grousseau, age 56, brings with him over 30 years of experience in leading technology development, infrastructure and support teams in the transportation and logistics industry. As CTO, Grousseau will lead the company's continued enhancement of its information systems while suppo ...

Strengthens Capabilities in Support of the Oil and Gas Industry RENTON, Wash., Sept. 4, 2024 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE American: RLGT), a leading provider of technology-enabled global transportation and value added logistics solutions, today announced it has acquired Foundation Logistics & Services, LLC ("Foundation"), a Humble, Texas -based, privately held company that provides a full range of specialized transportation and logistics services for companies involved in the exploration, d ...

thitivong In 2023, I started covering companies in the freight and logistics industry, and I have continued expanding my coverage in that area. With this report, I will be adding another name to my coverage, namely Radiant Logistics (NYSE:RLGT). Since this is my first report on the company, I will be discussing the companies activities followed by a discussion of earnings, key risks and opportunities as well as a stock price target and rating. Radiant Logistics: A Non-Asset Based Multi-Modal Service Provide ...

Strengthens Company's presence in Portland, Oregon Danielle Van Auken of DVA commented, "We were looking for a long-term partner with that same passion and priority for servicing the customer and we found that partner in Radiant. Now that we have the opportunity to fly the Radiant flag here in Portland, we are looking forward to leveraging our own strengths along with the capabilities of the Radiant network to bring additional value to our customers while also providing our team with the professional growth ...

RENTON, Wash., June 3, 2024 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE American: RLGT), a leading provider of technology-enabled global transportation and value-added logistics solutions, today announced it has acquired the operations Cascade Transportation, Inc. ("Cascade"), a Seattle-based, privately held company that provides a full range of customized time critical domestic and international transportation and logistics services. The Company structured the transaction similar to its previous transact ...

Nikada Introduction I've been following US freight forwarder Radiant Logistics, Inc. (NYSE:RLGT) closely, and I've written a total of 7 articles about the company on Seeking Alpha to date. The latest one came out in March 2024 and back then I said that Radiant Logistics was navigating a tough US freight market as the TTM adjusted EBITDA margin was close to 15% in Q2 FY24. On May 9, the company released its Q3 FY24 financial results and I think they were underwhelming as revenues went down by 24.4% year on y ...

Radiant Logistics, Inc. (NYSE:RLGT) Q3 2024 Results Conference Call May 9, 2024 4:30 PM ET Company Participants Bohn Crain - Founder & Chief Executive Officer Todd Macomber - Chief Financial Officer Conference Call Participants Mark Argento - Lake Street Capital Kevin Gainey - Thompson, Davis & Company, Inc. Jason Seidl - TD Cowen Jeff Kauffman - Vertical Research Mike Vermut - Newland Capital Operator Good day. This afternoon, Bohn Crain, Radiant Logistics' Founder and CEO; and Radiant Chief Financial Offi ...