Radiant Logistics, Inc.

Greetings. Welcome to the financial discussion for third fiscal quarter ended March 31, 2026. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note, this conference is being recorded. This afternoon, Bon Crane, Radiant Logistics founder and CEO, And Radiant's Chief Financial Officer, Todd McComber, will provide a general business update and discuss financial results for the company's third fiscal quarter ended March 31, 2026. 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 these 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.

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

We are pleased to report another quarter of solid financial results, delivering $7.8 million in adjusted EBITDA for our third fiscal quarter ended March 31, 2026. in what is our seasonally slowest quarter of the year. The global logistics landscape during the March quarter was marked by sharply divergent dynamics across domestic and international markets, each presenting its own distinct set of challenges and opportunities. And we believe the resilience of our results reflects both the diversity of our service offering and the quality of our network. On the domestic side, we are seeing encouraging signs of a supply-driven recovery in North American truckload and intermodal markets, where capacity has been steadily exiting the industry through a combination of carrier attrition, tightening driver availability, and the structural normalization of a fleet that expanded aggressively in prior years. With spot rates, tender rejections, and other key cycle indicators moving meaningfully higher and driver headcount at multi-year lows, the domestic freight market appears to be approaching a genuine inflection point. While these market trends are not fully reflected in our results for the March quarter, we view these developments as constructive for our business going forward. as these improving market conditions should translate into better opportunities for our domestic operations. The international picture has been considerably more challenging and, in some respects, unprecedented in its complexity. Global trade flows have been under sustained pressure from two distinct but compounding forces. The first is the ongoing transformation of the global tariff landscape. U.S. trade policy has fundamentally redrawn the economics of cross-border commerce with the universal 10% import surcharge currently in effect covering more than $1 trillion in goods. Country-specific tariff investigations underway targeting dozens of trading partners for industrial overcapacity and labor practices, and critical policy decisions on permanent tariff structures expected before July. The resulting uncertainty has materially altered sourcing strategies, disrupted established trade lanes, most visibly the China to U.S. corridor, which has been one of the most consequential freight arteries in the global economy, and prompted widespread supply chain restructuring as importers and manufacturers are accelerating nearshoring and diversification initiatives. For international freight forwarders, this environment creates both headwinds and opportunity. Near-term volumes on effective lanes have softened, but the complexity of navigating new trade routes, custom regimes, and compliance requirements increases the premium on experienced technology-enabled partners who can guide customers through the transition. The second force is the physical disruption to global shipping routes stemming from the conflict in the Middle East. The effective closure of the Straits of Hormuz, following strikes on Iran in late February, the world's single most critical maritime checkpoint, through which significant share of global energy and container trade flows, combined with the ongoing Hudi activity, which has kept the Suez Canal closed to major carriers, has fundamentally rerouted global ocean freight, extended transit times materially, driven fuel costs sharply higher, and triggered a significant surge in air freight demand as time-sensitive shippers seek alternatives. These twin disruptions to global trade, one policy-driven, one conflict-driven, have created a uniquely challenging environment for international freight markets. At the same time, they reinforce precisely why customers need a logistics partner like Radian, one with the global network, the technology platform, and the operational expertise to help them navigate volatility, find capacity, and keep supply chains moving when the world's trade infrastructure is under stress. Looking beyond the near-term environment, we remain highly encouraged by our strategic progress we are making. Our Navigate global trade management and collaboration platform continues to gain traction in the marketplace, offering customers enhanced supply chain visibility routing intelligence and cost optimization, capabilities that are especially valued during periods of market dislocation like the ones we are currently experiencing. With deployment measured in weeks rather than months or years, Navigate delivers speed to value that we believe is a clear competitive differentiator as we introduce it to current and prospective customers in the quarters ahead. We also continue to make good progress with our recently announced launch of Ray, our first AI-powered agent. In addition to our initial efforts focused on streamlining international quote administration across our global agent network, we are exploring how best to further automate key workflows across our domestic and international shipment life cycles, while enabling faster response times and higher service quality for our customers. We look forward to expanding RACE capabilities and introducing additional AI-powered solution as we continue our digital transformation journey. Finally, our financial position remains a source of significant strength. We are essentially debt-free on a net basis relative to our $200 million credit facility, giving us substantial flexibility to pursue the combination of strategic operating partner conversions, synergistic tuck-in acquisitions, and share repurchases that have long defined our approach to capital allocation. With our diversified platform, strong balance sheet, and growing suite of technology capabilities, we believe Radian is well positioned to emerge from this period of market turbulence as a stronger and more competitive enterprise. With that, I'll now turn it over to Todd Maycumber, our CFO, to walk us through our detailed financial results, then we'll open it up for some Q&A.