Radiant Logistics, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Radiant Logistics, Inc. filed its Q3 2024 10-Q, detailing financial positions and segment performance.</b>

AI Summary

RADIANT LOGISTICS, INC (RLGT) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Radiant Logistics, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the third quarter of the fiscal year ending June 30. Key financial statement items and dates are referenced, including Retained Earnings, Common Stock, and Operating Segments. Specific assets like Property, Plant, and Equipment Net, and intangible assets such as Customer Relationships and Trademarks and Trade Names are noted. The report includes details on the Revolving Credit Facility with Bank of America NA and BMO Capital Markets Corp.

Why It Matters

For investors and stakeholders tracking RADIANT LOGISTICS, INC, this filing contains several important signals. This 10-Q provides investors with the latest financial snapshot of Radiant Logistics, Inc., crucial for understanding its performance and financial health in the third quarter of fiscal year 2024. The detailed segment information and asset/liability breakdowns are essential for analysts to assess operational efficiency, growth drivers, and potential risks within the company's various business units.

Risk Assessment

Risk Level: medium — RADIANT LOGISTICS, INC shows moderate risk based on this filing. The filing is a standard 10-Q, indicating routine reporting rather than immediate significant positive or negative developments, but the nature of the logistics industry can involve inherent operational and market risks.

Analyst Insight

Investors should review the detailed segment performance and financial condition sections of the 10-Q to assess the company's operational execution and financial stability.

Key Numbers

• 2024-03-31 — Period End Date (10-Q filing)
• 2024-05-09 — Filing Date (10-Q filing)
• 06-30 — Fiscal Year End (Company data)
• Q3 — Reporting Quarter (10-Q filing)

Key Players & Entities

• RADIANT LOGISTICS, INC (company) — FILER
• 0000950170-24-057224 (other) — ACCESSION NUMBER
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 20240509 (date) — FILED AS OF DATE
• 4731 (other) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (other) — STATE OF INCORPORATION
• 001-35392 (other) — SEC FILE NUMBER
• Bank Of America NA And Bmo Capital Markets Corp (company) — Revolving Credit Facility

FAQ

Industry Context

Radiant Logistics operates in the transportation and logistics industry, which involves the arrangement of freight and cargo.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Review the consolidated balance sheets for the company's assets, liabilities, and equity as of March 31, 2024.
2. Analyze the consolidated statements of operations to understand revenue, expenses, and net income for the reported periods.
3. Examine the segment information to identify performance drivers and trends across different business units.

Year-Over-Year Comparison

This is the Q3 2024 10-Q filing, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 Par Value RLGT NYSE American Indi

Filing Documents

• rlgt-20240331.htm (10-Q) — 3560KB
• rlgt-ex31_1.htm (EX-31.1) — 12KB
• rlgt-ex31_2.htm (EX-31.2) — 12KB
• rlgt-ex32_1.htm (EX-32.1) — 11KB
• 0000950170-24-057224.txt (&nbsp;) — 12552KB
• rlgt-20240331.xsd (EX-101.SCH) — 1368KB
• rlgt-20240331_htm.xml (XML) — 2582KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of March 31, 2024 and June 30, 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Changes in Equity for the Three and Nine Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended March 31, 2024 and 2023 7 Notes to the Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sale of Equity Securities and Use of Proceeds 38 Item 5. Other Information 38 Item 6. Exhibits 39

Signatures

Signatures 40 2 Table of Contents RADIANT LOG ISTICS, INC. Condensed C onsolidated Balance Sheets March 31, June 30, (In thousands, except share and per share data) 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 31,233 $ 32,456 Accounts receivable, net of allowance of $ 3,565 and $ 2,776 , respectively 105,513 126,725 Contract assets 7,244 6,180 Income tax receivable 4,223 — Prepaid expenses and other current assets 11,540 15,211 Total current assets 159,753 180,572 Property, technology, and equipment, net 26,226 25,389 Goodwill 90,424 89,203 Intangible assets, net 31,618 36,641 Operating lease right-of-use assets 51,961 56,773 Deposits and other assets 3,984 5,163 Total other long-term assets 177,987 187,780 Total assets $ 363,966 $ 393,741 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 70,266 $ 84,561 Operating partner commissions payable 12,998 18,360 Accrued expenses 7,822 8,739 Income tax payable — 369 Current portion of notes payable 639 4,107 Current portion of operating lease liabilities 11,129 11,273 Current portion of finance lease liabilities 608 620 Current portion of contingent consideration 150 3,886 Other current liabilities 1,918 258 Total current liabilities 105,530 132,173 Operating lease liabilities, net of current portion 47,592 52,120 Finance lease liabilities, net of current portion 744 1,121 Contingent consideration, net of current portion 1,190 287 Deferred tax liabilities 2,761 2,944 Total long-term liabilities 52,287 56,472 Total liabilities 157,817 188,645 Commitments and contingencies (Note 15) Equity: Common stock, $ 0.001 par value, 100,000,000 shares authorized; 51,842,855 and 51,603,386 shares issued, and 47,001,597 and 47,294,529 shares outstanding, respectively 33 33

View Full Filing

View this 10-Q filing on SEC EDGAR