ETS earnings analysis
What we found in ETS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Elite Express Holding Inc. reported Q2 2026 total revenue of $726,829, marking a 15.3% increase from $630,250 in Q2 2025, with a gross profit margin improvement to 11.3%. However, the company incurred a significant net loss of $2,532,942, a deterioration compared to a loss of $107,604 in the same quarter last year, primarily driven by soaring general and administrative expenses post-IPO. Management anticipates positive long-term trends from e-commerce growth but faces significant cash flow and operational challenges.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 15.3%
- Revenue rose to $726,829 in Q2 2026, up from $630,250 in Q2 2025.
- Gross Margin Improvement
- Gross profit margin increased to 11.3% in Q2 2026 from 2.8% in Q2 2025.
- Interest Income Presents Positive
- Interest income reached $216,101 in Q2 2026, compared to zero income in Q2 2025.
- Rising Cash Position
- Cash increased to $5,235,991 as of May 31, 2026, up from $0.1 million at November 30, 2025.
- Robust Financing Activities
- Financing activities provided $7.9 million in Q2 2026, a significant rise from $178,922 in Q2 2025.
- Increased Weekly Service Charges
- Weekly service charges boosted revenue significantly, increasing by 37.8% YoY to $203,541 in Q2 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Substantial Net Loss
- Net loss surged to $2,532,942 in Q2 2026, up from $107,604 in Q2 2025.
- High General and Administrative Expenses
- G&A expenses rose 398.1% YoY to $706,072, impacting overall profitability.
- Liquidity Risk from Cash Deposits
- $4.9 million of cash is uninsured in Hong Kong banks, heightening liquidity risk.
What they reported.
What the company itself reported, taken out of the document.
- Gross margin
- 11.3%
What they said about what is next.
Management raised full-year revenue guidance to between $3.0M and $3.5M.
The filing reads worse than the one before it.
What came before.
- 10-Q · April 13, 2026
- Q1 revenue improved to $805,298 (up $95,608 or +13.5% vs. Q4 2025 and up $171,433 or +27.1% vs. the earlier quarter provided), with gross margin expanding to 19.5% and operating loss narrowing to -38.2%. EPS was -$0.01…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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