10-Q · May 11, 2026
Radiant Logistics reported Q3 2026 earnings with revenue of $214.1 million, slightly beating estimates of $214.0 million, and EPS of $0.11, surpassing expectations of $0.07. The company observed year-over-year net…
Earnings analysis · 10-K
RLGT earnings analysis
Filed September 14, 2026 · Our reading of the company's report
The latest report
Radiant delivered moderate fiscal 2026 growth, with revenue up 3.5%, GAAP gross margin improving to 25.3%, and diluted EPS rising to $0.39 from $0.35. Canada and value-added services were positive contributors, but U.S.…
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Radiant delivered moderate fiscal 2026 growth, with revenue up 3.5%, GAAP gross margin improving to 25.3%, and diluted EPS rising to $0.39 from $0.35. Canada and value-added services were positive contributors, but U.S. segment adjusted EBITDA declined and consolidated adjusted EBITDA fell to $36.684 million from $38.756 million. The asset-light partner network, technology roadmap and improved operating cash flow support the long-term strategy, while broker-liability litigation, trade-policy volatility and execution risks around technology and acquisitions warrant a neutral overall view.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.39
What stood out
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Asset-Light Network Strategy
Radiant describes a technology-enabled, non-asset-based logistics model with over 100 operating locations, including approximately 30 Company-owned locations. It expects to grow organically through customer relationships, technology, and strategic operating partners, while pursuing complementary acquisitions.
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Partner Network Remains Core
Strategic operating partners contributed approximately 42% of consolidated adjusted gross profit in both fiscal 2026 and fiscal 2025, underscoring the importance of the partner network to the company’s distribution model and growth strategy.
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Revenue and Net Income Improved
Fiscal 2026 revenue increased 3.5% to $934.356 million from $902.696 million, while GAAP gross profit increased to $236.394 million from $226.079 million and net income attributable to Radiant increased to $18.786 million from $17.291 million.
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Operating Profit Improved, EBITDA Mixed
GAAP gross margin improved to 25.3% from 25.0%, and operating income increased to $24.622 million from $21.058 million. However, adjusted EBITDA declined to $36.684 million from $38.756 million, indicating that earnings improvement benefited partly from lower amortization and a $6.197 million contingent-consideration gain.
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Higher-Margin Services Expanded
Value-added services revenue increased to $51.603 million from $48.311 million, while adjusted value-added-services gross margin rose to 60.9% from 58.0%, driven primarily by higher volumes and expanded warehouse operations in Canada.
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Cash Generation Supported Investment
Operating cash flow increased to $17.491 million from $13.266 million. Capital allocation included $5.195 million of acquisition spending, $4.291 million of property, technology and equipment purchases, and $3.493 million of share repurchases during fiscal 2026.
What to watch
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Broker Liability Rules Changed
The filing identifies the May 2026 Supreme Court decision in Montgomery v. Caribe Transport II, LLC as allowing certain negligent-selection claims against freight brokers to proceed under state law. The decision could increase litigation, judgments or settlements, insurance costs and self-insured exposure, including so-called “nuclear verdicts.”
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Expanding AI Creates New Exposure
AI is increasingly incorporated into operations, including AI agents, but the filing states that the technology may produce inaccurate or flawed outputs and may create regulatory, contractual, intellectual-property and cybersecurity exposure. Failure of AI initiatives could adversely affect results and financial condition.
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Tariff and Trade Policy Volatility
International services represented 46% of adjusted gross profit in fiscal 2026, up from 45% in fiscal 2025. The filing states that tariffs and retaliatory trade measures could reduce freight volumes, disrupt trade lanes and increase customer costs, while the impact of rapidly changing U.S. trade policy remains uncertain.
Management's outlook
The 10-K provides no quantitative annual revenue or EPS guidance. Management says fiscal 2027 technology spending is expected to increase, including customer-facing, vendor-facing and user-facing tools and systems.
Earlier filings 4
10-Q · February 9, 2026
Radiant Logistics, Inc. reported a mixed performance for the fiscal second quarter ended December 31, 2025, with revenues declining year-over-year while net income improved. The company generated $232 million in revenue…
10-Q · November 10, 2025
Radiant Logistics, Inc. reported a notable improvement in Q1 2026 revenues of $227 million, surpassing the prior quarter by 3% and prior year by 11%. The net income increased to $1.3 million, reflecting increased…
10-K · September 15, 2025
Radiant Logistics, Inc. reported solid growth in fiscal year 2025, driven by increased transportation revenues and effective management of operating expenses. While net income increased from $7.7 million to $17.3…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.