Radiant's Adjusted EBITDA Growth Accelerates

The Tip Desk · November 12, 2026 · 4 min read

Adjusted EBITDA reached $12.2 million in the three months ended September 30, 2026, up 79.4% from a year earlier, after a 31.6% year-over-year increase in the June quarter.

Radiant Logistics, Inc. (RLGT), a technology-enabled global transportation and value-added logistics services company, reported revenue of $279.8 million for the three months ended September 30, 2026, up 23.4% from $226.7 million a year earlier. That year-over-year pace quickened from 18.5% growth in the June quarter, after near-zero growth in the March quarter.

Adjusted EBITDA was $12.2 million, up 79.4% from $6.8 million a year earlier. Adjusted EBITDA margin expanded 630 basis points year over year to 17.7%, after a 240-basis-point expansion to 15.5% in the June quarter and a 240-basis-point contraction to 13.8% in the March quarter.

Net income attributable to Radiant Logistics was $6.1 million, or $0.13 a share, compared with $1.3 million, or $0.03 a share, a year earlier. Adjusted net income was $8.6 million, or $0.18 a share. Income from operations was $8.3 million.

Adjusted gross profit was $68.6 million, up 15.3% from $59.5 million a year earlier. GAAP gross profit was $66.3 million. GAAP gross profit margin compressed to 23.7% from 25.2% a year earlier, and adjusted gross profit margin compressed to 24.5% from 26.2%. Selling, general and administrative expenses fell to $10.0 million from $12.1 million a year earlier.

The company said year-over-year improvement was driven principally by U.S. operations, where adjusted EBITDA more than doubled, with notable strength in international airfreight, intermodal and over-the-road brokerage. Management said adjusted EBITDA grew significantly faster than adjusted gross profit, reflecting operating leverage including lower SG&A as a percentage of adjusted gross profit, driven by consolidation of transportation management systems and the non-recurrence of a $1.3 million credit loss related to the First Brands bankruptcy in the prior-year period.

On the domestic side, the company said capacity has continued to exit North American truckload and intermodal markets through carrier attrition, tightening driver availability, and normalization of a fleet that had expanded aggressively in prior years. Tender rejections and other cyclical indicators remained well above balanced-market levels throughout the quarter and into the fall, and contract rates have moved meaningfully higher year over year, the company said, even as seasonal softness and a shift of longer-haul freight toward intermodal caused spot rates to fluctuate. The company said it views those developments as constructive for domestic operations and U.S. brokerage in particular, and that the intermodal shift plays to the bi-modal truck and intermodal offering at Radiant Road & Rail.

Navegate, the company’s proprietary technology platform, had over 150 active customers, with one enterprise customer managing over 1,500 vendors who booked over 7,500 shipments during the quarter. In August 2026, Radiant Road & Rail launched a new independent agent program for truck brokerage and intermodal, anchored by its first two agency owners.

Internationally, the company said ocean freight rates held at elevated levels throughout the quarter after rising sharply since late February, when disruption to traditional ocean shipping routes began, as carriers maintained capacity discipline. Airfreight performance continued to be up meaningfully, the company said, driven in large part by work supporting disaster relief after typhoon activity in the Western Pacific. Global air cargo demand continued to grow, the company said, even as elevated jet fuel prices and constrained Middle East capacity kept air freight rates firm. The company said it continues to monitor the impact of elevated fuel prices and conflict-related rerouting on margins.

On August 7, 2026, Radiant entered an amended and restated $200 million revolving credit facility, extending maturity to August 7, 2031, raising the acquisition accordion from $75 million to $100 million, and modestly improving pricing. As of September 30, 2026, $25.0 million was outstanding under the facility against $27.8 million of cash, leaving no net debt.

Effective October 1, 2026, the company acquired the Dallas operations of Whitacre Logistics Services through Radiant Road & Rail, an intermodal and over-the-road brokerage serving building materials, industrial manufacturing, and packaging. The company said it structured the transaction similarly to previous deals, with a portion of the expected purchase price payable in subsequent periods based on future performance of the acquired operations.