Financial Performance - Consolidated net loss for Q4 2025 was $29.3 million, or diluted loss per share of $1.40, compared to a net loss of $31.6 million, or diluted loss per share of $1.45 in Q4 2024[2] - For the year ended December 31, 2025, consolidated net loss was $52.6 million, or diluted loss per share of $2.48, compared to a net loss of $31.8 million, or diluted loss per share of $1.45 in 2024[2] - Operating loss for Q4 2025 was $38.1 million, with a non-GAAP adjusted operating loss of $11.6 million[6] - Adjusted (non-GAAP) net loss for the year ended December 31, 2025 was $32.8 million, or adjusted diluted loss per share of $1.55[3] - Adjusted operating loss for Q4 2025 was $11.6 million, compared to an adjusted operating loss of $6.6 million in Q4 2024[14] - Net loss for Q4 2025 was $29.3 million, slightly improved from a net loss of $31.6 million in Q4 2024[15] - Adjusted diluted loss per share for Q4 2025 was $(0.45), compared to $(0.36) in Q4 2024[16] Revenue and Operational Metrics - Consolidated operating revenues decreased by 15.1% to $141.3 million in Q4 2025 from $166.5 million in Q4 2024, and decreased by 16.3% to $598.1 million for the year from $714.6 million in 2024[5] - Total operating revenue for Q4 2025 was $141.3 million, a decrease of 15.1% from $166.5 million in Q4 2024[14] - Revenue per truck per workday decreased to $635 in Q4 2025 from $720 in Q4 2024[12] - Total miles driven in Q4 2025 were 40,675 thousand, down from 42,243 thousand in Q4 2024, with an empty miles factor of 8.3%[12] Cash and Liquidity - As of December 31, 2025, the company had $143.5 million in cash and liquidity, with outstanding debt of $333.9 million, an increase of $8.3 million from the previous year[7] - The company generated $17.3 million in operating cash flow during 2025[7] Assets and Liabilities - Total current assets decreased to $171.2 million in 2025 from $211.8 million in 2024, a decline of 19%[13] - Total liabilities increased to $487.4 million in 2025 from $464.1 million in 2024, an increase of 5.7%[13] - Total assets decreased to $697.9 million in 2025 from $741.7 million in 2024, a decline of 5.9%[13] - Retained earnings decreased to $197.5 million in 2025 from $250.1 million in 2024, a decline of 21%[13] Adjustments and Reserves - The company increased its auto-liability reserve by approximately $26.5 million in Q4 2025, impacting the adjusted net loss, which was $9.4 million or adjusted diluted loss per share of $0.45[3] - Specific auto liability reserve increase contributed $26.5 million to the adjusted net loss in Q4 2025[15] - Adjusted operating ratio for Q4 2025 was 109.4%, compared to 104.5% in Q4 2024[14]
P.A.M. Transportation(PTSI) - 2025 Q4 - Annual Results