Radiant Logistics (RLGT) Q2 2026 earnings summary

Executive summary

• Revenue for the quarter ended December 31, 2025, was $232.1 million, down 12.3% year-over-year, primarily due to lower project charter revenues, but up 16.2% excluding the prior year's one-time Milton Project revenues.

• Net income for the quarter was $5.3 million ($0.11 per share), down from $6.5 million, and adjusted net income was $8.1 million ($0.17 per share), down 24.3%, but up 30.6% excluding the Milton Project.

• Adjusted EBITDA for the quarter was $11.8 million, down 2% year-over-year, but up 93.4% excluding prior year project work.

• Launched Navegate platform and Ray AI agent, enhancing digital capabilities and operational efficiency.

• Completed the acquisition of an 80% interest in Weport, a Mexico-based logistics provider, expanding the North American footprint.

Financial highlights

• Six-month revenue was $458.8 million, down 2% year-over-year, with net income of $6.6 million ($0.14 per share), down from $9.8 million.

• Six-month adjusted net income was $12.5 million ($0.27 per share), down from $18.6 million; normalized to $13.5 million excluding a $1.3 million adjustment.

• Six-month adjusted EBITDA was $18.6 million, down 13.5% year-over-year; normalized to $19.9 million excluding a $1.3 million adjustment.

• Cash and cash equivalents increased to $31.9 million as of December 31, 2025.

• Borrowings under the revolving credit facility increased to $30.0 million, with compliance on all covenants under the $200 million facility.

Outlook and guidance

• Management expects continued organic and acquisition-driven growth, focusing on agent station conversions, tuck-in acquisitions, stock buybacks, and technology investments.

• Navegate platform and AI initiatives are expected to drive future operational efficiencies and organic growth.

• The company remains cautious about global economic uncertainty, inflationary pressures, and potential impacts on shipment volumes and margins.