Financial Performance - Total Operating Revenue for Q3 2025 was $114.3 million, a 24.9% increase from Q3 2024[3] - Adjusted Operating Income reached $4.2 million, compared to $1.1 million in Q3 2024, reflecting significant profitability improvement[3] - Total operating revenue for Q3 2025 reached $114.29 million, a 25% increase from $91.51 million in Q3 2024[27] - Operating loss for Q3 2025 was $100,748, compared to a loss of $2.19 million in Q3 2024[27] - Net loss for Q3 2025 was $3.02 million, compared to a net loss of $1.37 million in Q3 2024, reflecting a significant increase in losses[27] - The company reported a basic and diluted loss per share of $0.11 for Q3 2025, compared to a loss of $0.05 per share in Q3 2024[27] Operational Metrics - Total Units delivered increased to 605,341, marking a 21% rise from the same period last year[3] - Company unit deliveries increased by 24.8% year-over-year, while subhauler deliveries grew by 19.4%[10] - Adjusted Operating Ratio improved to 96.3%, a 250 basis points enhancement year-over-year[12] - Adjusted EBITDA for the trailing twelve months was $38.0 million, with a net leverage ratio of 1.7x[13][23] Costs and Expenses - Salaries, wages, and benefits for Q3 2025 amounted to $22.34 million, up from $17.37 million in Q3 2024, indicating increased workforce costs[27] - Fuel surcharge and other reimbursements increased to $7.44 million in Q3 2025 from $6.02 million in Q3 2024, reflecting higher operational costs[27] - Restructuring charges of $1.9 million were incurred, expected to yield annual savings exceeding $3 million starting in 2026[12] Cash and Debt Management - Cash at the end of Q3 2025 was $14.5 million, with total debt reduced to $79.2 million[13] - Cash and cash equivalents as of September 30, 2025, were $14.54 million, a decrease from $15.40 million as of December 31, 2024[25] - Accounts receivable increased to $45.92 million in Q3 2025 from $37.39 million in Q4 2024, indicating growth in sales[25] - Total current liabilities rose to $63.75 million in Q3 2025, up from $52.62 million in Q4 2024, reflecting increased operational costs[25] - Long-term debt, less current portion, was $57.81 million as of September 30, 2025, compared to $56.34 million as of December 31, 2024[25] Revenue Sources - The dedicated fleet revenue was $4.2 million in Q3 2025, down from $4.7 million in the same quarter last year[11]
Proficient Auto Logistics, Inc.(PAL) - 2025 Q3 - Quarterly Results