Radiant Logistics, Inc.

Good afternoon. Welcome to Radiant Logistics, Inc.' 's financial discussion for fourth fiscal quarter and year ended June 30th, 2025. This afternoon, Bond Crane, Radiant Logistics founder and CEO, and Radiant's Chief Financial Officer, Todd McCumber, will provide a general business update and discuss financial results for the company's fourth fiscal quarter and year ended June 30th, 2025. Following their comments, we will open the call to questions. This conference is scheduled for 30 minutes. This conference 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 website at www.radiantdelivers.com. In addition, past results are not necessarily an indication of future performance. Now I would like to call over to Radiant's founder and CEO, Bon Crane.

Thanks, Matthew. Good afternoon, everyone, and thank you for joining in on today's call. With the benefit of our diverse service offering and ongoing acquisition efforts, we continue to deliver solid financial results and generated $38.8 million in adjusted EBITDA for our fiscal year into June 30, 2025, which is up 7.6 million and 24.4% relative to the prior year period. The year-over-year improvement in adjusted EBITDA was driven principally through our acquisition efforts. For the year into June 30, 2025, our acquisitions generated $6 million in adjusted EBITDA, driven principally by our greenfield acquisitions of Seattle-based Cascade Transportation in June of 24, Houston-based Foundation Logistics and Services in September of 24, St. Louis-based TCB Transportation in December of 24, and Los Angeles-based Transcon Shipping in March of 25. along with the conversion of our strategic operating partners, Miami-based Select Logistics in February of 24 and Philadelphia-based USA Logistics in April of 25. Notwithstanding these strong year-over-year results, we expect to continue to see some near-term volatility tied to the ebb and flow of the ongoing U.S. negotiations around trade and tariffs. In any event, we continue to believe that there will ultimately be a surge in global trade as these tariffs disputes are brought to rest. In the interim, we intend to remain nimble in response to any tariff announcements by the U.S. administration and continue to support our customers in navigating these quickly evolving markets and executing thoughtful supply chain strategies for competitive advantage. As previously discussed, we believe we are well positioned with a durable business model diverse service offering, and strong balance sheet to navigate through a slower freight market. We continue to enjoy a strong balance sheet with approximately $23 million of cash on hand as of June 30, and only $20 million drawn on our $200 million credit facility. At the same time, we remain focused on the long term, staying true to our strategy to deliver profitable growth through a combination of organic and acquisition initiatives. while thoughtfully relevering our balance sheet to a combination of strategic operating partner conversions, synergistic tuck-in acquisitions, and stock buybacks. We made good progress in this regard over this last year, having completed three greenfield acquisitions and three strategic operating partner conversions in fiscal 25. In addition, earlier this month, we achieved a significant milestone with our acquisition of Mexico-based WePort, Mexico is an important market for us, and in addition to supporting Radiant's legacy and prospective customers across Mexico, WePort is well positioned to serve as a platform to help us continue to scale our North American footprint. We believe these transactions are representative of a broader pipeline of opportunities, which includes both greenfield acquisitions, companies not currently part of our network, as well as acquisition opportunities inherent in our agent-based networks where we can support our current operating partners in their exit strategies and look forward to providing further updates as we progress our acquisition efforts. 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.

Thanks, Bon, and good afternoon, everyone. Today, we will be discussing our financial results, including adjusted net income and adjusted EBITDA for the three and 12 months ended June 30th, 2025. For the three months ended June 30th, 2025, we reported net income attributable to Radiant Logistics for the quarter of $4,907,000 on 220.6 million of revenues or 10 cents per basic and fully diluted share. For the three months ended June 30th, 2024, we reported net income attributable to Radiant Logistics of $4,781,000 on 206 million of revenues or 10 cents per basic and fully diluted share. This represents an improvement of approximately $126,000 of net income over the comparable prior year period, or 2.6%. Quarterly adjusted net income results. For adjusted net income, we reported $5,485,000 for the three months ended June 30th, 2025, compared to adjusted net income of $7,015,000 for the three months ended June 30th, 2024. This represents a decrease of approximately $1,530,000 or approximately 21.8%. For adjusted EBITDA, we reported $7,890,000 for the three months ended June 30th, 2025 compared to adjusted EBITDA of $9,078,000 for the three months ended June 30th, 2024. This represents a decrease of approximately $1,188,000, or approximately 13.1%. Moving on to the 12-month results. The 12 months into June 30, 2025, we reported net income attributable to Radiant Logistics of $17,291,000 on $902.7 million of revenues, or $0.37 per basic and $0.35 per fully diluted share. The 12 months into June 30, 2024, we reported net income attributable to rating logistics of $7,685,000 on $802.5 million of revenues for $0.16 per basic and fully diluted share. This represents an increase of approximately $9,606,000 over the comparable prior year period for 125%. For adjusted net income, we reported $30,944,000 for the 12 months ended June 30, 2025, compared to adjusted net income of $22,647,000 for the 12 months ended June 30, 2024. This represents an increase of approximately $8,297,000, or approximately 36.6%. For adjusted EBITDA, we reported $38,756,000 for the 12 months ended June 30th, 2025, compared to adjusted EBITDA of $31,160,000 for the 12 months ended June 30th, 2024. This represents an increase of approximately $7,596,000, or approximately 24.4%. With that, I will turn the call over to our moderator, to facilitate any Q&A from our callers.