Radiant Logistics, Inc.

Please stand by, your program is about to begin. If you need assistance during your conference today, please press star zero. This afternoon, Vaughn Crane, Radiant Logistics founder and CEO, and Radiant's Chief Financial Officer, Todd Maycomber, will provide a general business update and discuss financial results for the company's first fiscal quarter ended September 30, 2023. Following their comments, we will open the call to questions. This conference is scheduled for 30 minutes. This conference call may include forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. The company has based these forward-looking statements on its current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about the company, That may cause the company's actual results or achievements to be materially different from the results or achievements expressed or implied by such forward-looking statements. While it is impossible to identify all the factors that may cause the company's actual results or achievements to differ materially from those set forth in our forward-looking statements, such factors include those that have in the past and may in the future be identified in the company's SEC filings and other public announcements which are available on the Radiant website at www.radiantdelivers.com. In addition, past results are not necessarily an indication of future performance. Now I'd like to pass the call over to Radiant's founder and CEO, Bon Crane.

Thanks, Angela. Good afternoon, everyone, and thank you for joining in on today's call.

Our results for the quarter end in September 30, 2023. continue to reflect the difficult freight markets being experienced by the entire industry, as well as our own operations. The confluence of shippers continuing to manage through elevated inventories, reduced imports, and slowing economic growth has had a cascading effect across virtually every mode of transportation. As in the prior quarter, these market conditions have negatively impacted not only our current results, but also the year-over-year comparison to our record results. for the prior year period. With that said, we remain optimistic that we're at or near the bottom of the cycle and would expect markets to begin to find their way to more sustainable and normalized levels in coming quarters. Notwithstanding the tough year-over-year comparisons, we're very proud to report that we generated $9.2 million in adjusted EBITDA and almost $8 million in cash from operations for our quarter ended September 30th. In addition, we continue to enjoy a strong balance sheet, finishing the quarter with approximately $36 million of cash on hand and nothing drawn on our $200 million credit facility. And as we detailed in our press release, we continue to allocate capital in support of our stock buyback program, as well as converting our agent stations to company-owned stores, as we did with our Delray transaction in Florida. As previously discussed, we believe we are well positioned to navigate through these slower freight markets as we find our way back to more normalized market conditions. At the same time, we believe our patience and discipline will be rewarded as market conditions become more conducive to our acquisition strategy, and we have ample dry powder to become more active on the acquisition front should the opportunity present itself. Looking ahead, we will remain focused on delivering profitable growth through a combination of organic and acquisition initiatives, and thoughtfully re-levering our balance sheet through a combination of agent station conversions, synergistic tuck-in acquisitions, and stock buybacks. Through this approach, we will continue to scale our business, leveraging our best-in-class technology, our extensive global network, which we believe over time will continue to deliver meaningful value for our shareholders, operating partners, and the end customers that we serve. With that, I'll turn it over to Todd Maycumber, our CFO, to walk us through our detailed financial results, and then we'll open it up for some Q&A.