v3.26.1
BUSINESS SEGMENT INFORMATION
 6 Months Ended
Mar. 31, 2026
BUSINESS SEGMENT INFORMATION [Abstract]  
BUSINESS SEGMENT INFORMATION
11.
BUSINESS SEGMENT INFORMATION
 
As referenced above in Note 1, the Company operates in three reportable segments: Logistics, Life Sciences and Manufacturing.
 
The Company’s Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”), regularly reviews financial information at the reporting segment level in order to make decisions about resources to be allocated to the segments and to assess their performance.
 
The following tables present selected financial information about the Company’s reportable segments and Corporate for the purpose of reconciling to the consolidated totals for the three and six months ended March 31, 2026:
 
                                
For the three months ended March 31, 2026   Consolidated     Logistics     Life Sciences     Manufacturing     Corporate  
Revenues
  $ 57,444   $ 51,484   $ 3,401   $ 2,559   $ —  
Forwarding expenses and cost of revenues
    38,876     37,105     622     1,149       —  
Gross profit
    18,568     14,379     2,779     1,410       —  
Selling, general and administrative
    16,194     10,913     2,306     841     2,134 
Amortization of intangible assets
    829       —        —        —      829 
Income (loss) from operations
    1,545     3,466     473     569     (2,963) 
Interest expense
    410     272     66     66     6 
Identifiable assets
    154,188     68,433     11,736     7,398     66,621 
Capital expenditures, net of disposals
    123       —      123       —        —  
 
                                
For the six months ended March 31, 2026   Consolidated     Logistics     Life Sciences     Manufacturing     Corporate  
Revenues
  $ 113,483   $ 102,313   $ 6,805   $ 4,365   $ —  
Forwarding expenses and cost of revenues
    76,798     73,534     1,202     2,062       —  
Gross profit
    36,685     28,779     5,603     2,303       —  
Selling, general and administrative
    32,504     21,891     4,792     1,773     4,048 
Amortization of intangible assets
    1,658       —        —        —      1,658 
Income (loss) from operations
    2,523     6,888     811     530     (5,706) 
Interest expense
    715     372     192     145     6 
Identifiable assets
    154,188     68,433     11,736     7,398     66,621 
Capital expenditures, net of disposals
    164     9     151     4       —  
 
The Manufacturing segment includes results from Rubicon starting on the acquisition date of October 14, 2025. Rubicon’s corporate expenses are included in Janel’s Corporate expenses segment.
                                
The following tables present selected financial information about the Company’s reportable segments and Corporate for the purpose of reconciling to the consolidated totals for the three and six months ended March 31, 2025:
                           
For the three months ended March 31, 2025   Consolidated     Logistics     Life Sciences     Manufacturing     Corporate  
Revenues
  $ 50,731   $ 44,044   $ 4,166   $ 2,521   $ —  
Forwarding expenses and cost of revenues
    34,160     32,188     796     1,176       —  
Gross profit
    16,571     11,856     3,370     1,345       —  
Selling, general and administrative
    13,759     9,524     1,918     802     1,515 
Amortization of intangible assets
    642       —        —        —      642 
Income (loss) from operations
    2,170     2,332     1,452     543     (2,157) 
Interest expense
    560     395     90     75       —  
Identifiable assets
    114,314     44,603     12,629     4,794     52,288 
Capital expenditures, net of disposals
    284     14     255     15       —  
 
                                
For the six months ended March 31, 2025   Consolidated     Logistics     Life Sciences     Manufacturing     Corporate  
Revenues
  $ 102,085   $ 90,130   $ 7,149   $ 4,806   $ —  
Forwarding expenses and cost of revenues
    70,372     66,896     1,246     2,230       —  
Gross profit
    31,713     23,234     5,903     2,576       —  
Selling, general and administrative
    27,051     18,892     3,917     1,743     2,499 
Amortization of intangible assets
    1,283       —        —        —      1,283 
Income (loss) from operations
    3,379     4,342     1,986     833     (3,782) 
Interest expense
    1,226     879     207     140       —  
Identifiable assets
    114,314     44,603     12,629     4,794     52,288 
Capital expenditures, net of disposals
    375     25     333     17       —