Radiant Logistics, Inc. (NYSE:RLGT) Q4 2024 Earnings Conference Call September 12, 2024 4:30 PM ET

Company Participants

Bohn Crain - Founder & CEO
Todd Macomber - CFO

Conference Call Participants

Elliot Alper - TD Cowen
Kevin Gainey - Thompson, Davis & Company, Inc.
Jeff Kauffman - Vertical Research

Operator

This afternoon, Bohn Crain, Radiant Logistics’ Founder and CEO and Radiant's Chief Financial Officer, Todd Macomber will provide a general business update and discuss financial results for the company's fourth fiscal quarter and year ended June 30, 2024. 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 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 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, Bohn Crain.

Bohn Crain

Thanks John. Good afternoon everyone and thank you for joining in on today's call. While our full year results continue to reflect the difficult freight markets, being experienced by the entire industry, as well as our own operations. We did see good sequential improvement in our financial results for the fourth fiscal quarter ended June 30, 2024 when compared to our third fiscal quarter ended March 31.

With net income up over 750%, adjusted net income up 94.4%, and adjusted EBITDA up 75%, we hope to continue to build on this positive trend in coming quarters as markets find their way to more sustainable and normalized levels. Notwithstanding the tough year-over-year comparisons, we continue to deliver meaningfully positive results and have generated $31.2 million in adjusted EBITDA and $17.3 million in cash from operations for the fiscal year ended June 30, 2024.