v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment reporting

Note 13 — Segment reporting

 

The Company’s business is organized into two operating segments, which represent the Company’s reportable segments. The Company Drivers segment offers automobile transport and contract services under an asset-based model. The Company’s contract service offering uses Company-owned equipment to service specific customers and provides transportation services primarily through long-term contracts. The Company’s Subhauler segment offers transportation services utilizing an asset-light model focusing on outsourcing transportation of loads to independent contractors and third-party carriers.

 

The following table summarizes information about our reportable segments: 

 

Six Months Ended June 30, 2026   Company Drivers     Subhaulers     Total  
Revenue                  
Revenue, before fuel surcharge   $ 70,774,051     $ 111,438,513     $ 182,212,564  
Fuel surcharge and other reimbursements     6,033,770       10,882,267       16,916,037  
Other Revenue     460,941       1,449,791       1,910,732  
Lease Revenue     —       2,050,121       2,050,121  
Segment Revenue   $ 77,268,762     $ 125,820,692     $ 203,089,454  
Reconciliation of revenue:                        
Other revenues(2)                     —  
Total Consolidated                     203,089,454  
Less:                        
Salaries, wages and benefits     33,106,261       6,284,844       39,391,105  
Fuel and fuel taxes     15,813,808       —       15,813,808  
Purchased transportation     —       97,598,053       97,598,053  
Truck expenses     14,255,346       —       14,255,346  
Depreciation     10,889,687       3,814,267       14,703,954  
Other segment items(1)     9,733,045       7,243,615       16,976,660  
Segment Operating Profit/(Loss)   $ (6,083,465 )   $ 10,433,993     $ 4,350,528  
Reconciliation of segment operating profit to income before income taxes:                        
Other profit/(loss)(2)                     (14,520,113 )
Interest Expense                     (2,829,067 )
Acquisition Costs                     (23,736 )
Other Income, net                     14,738  
Income Before Income Taxes                   $ (13,007,650 )
                         
Other Segment Disclosures:                        
Depreciation and amortization(3)   $ 10,889,687     $ 3,814,267     $ 14,703,954  
Intangible amortization(2)                     4,829,504  
Depreciation and Amortization                   $ 19,533,458  

 

(2) Other profit/(loss) relates to items not included within the Company’s measure of Segment Operating profit / (loss), these include corporate and unallocated expenses which were not included within the measures of segment profitability regularly reviewed by the CODM. These include $3,579,334 in Salaries, wages and benefits, $2,698,330 in Stock Based Compensation, $74,292 in Depreciation and amortization, $4,829,504 in Intangible Amortization, $641,347 in Insurance Premiums and Claims, and $2,697,306 in General Selling, and other Operating expenses.

 

(3) The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions.

 

 

Three Months Ended June 30, 2026   Company Drivers     Subhaulers     Total  
Revenue                  
Revenue, before fuel surcharge   $ 36,690,353     $ 59,325,257     $ 96,015,610  
Fuel surcharge and other reimbursements     4,043,750       7,207,836       11,251,586  
Other Revenue     279,748       526,784       806,532  
Lease Revenue     —       1,326,057       1,326,057  
Segment Revenue   $ 41,013,851     $ 68,385,934     $ 109,399,785  
Reconciliation of revenue:                        
Other revenues(2)                     —  
Total Consolidated                     109,399,785  
Less:                        
Salaries, wages and benefits     17,522,597       2,715,163       20,237,760  
Fuel and fuel taxes     8,937,810       —       8,937,810  
Purchased transportation     —       52,984,044       52,984,044  
Truck expenses     7,024,553       —       7,024,553  
Depreciation     5,275,039       1,858,658       7,133,697  
Other segment items(1)     5,146,701       3,852,325       8,999,026  
Segment Operating Profit/(Loss)   $ (2,446,929 )   $ 6,529,824     $ 4,082,895  
Reconciliation of segment operating profit to income before income taxes:                        
Other profit/(loss)(2)                     (7,317,926 )
Interest Expense                     (1,432,046 )
Acquisition Costs                     (23,736 )
Other Income, net                     (19,089 )
Income Before Income Taxes                     (4,709,902 )
                         
Other Segment Disclosures:                        
Depreciation and amortization(3)   $ 5,275,039       1,858,658       7,133,697  
Intangible amortization(2)                     2,414,751  
Depreciation and Amortization                     9,548,448  

 

(2) Other profit/(loss) relates to items not included within the Company’s measure of Segment Operating profit / (loss), these include corporate and unallocated expenses which were not included within the measures of segment profitability regularly reviewed by the CODM. These include $1,839,835 in Salaries, wages and benefits, $1,346,248 in Stock Based Compensation, $37,542 in Depreciation and amortization, $2,414,751 in Intangible Amortization, $307,653 in Insurance Premiums and Claims, and $1,371,897 in General Selling, and other Operating expenses.

 

(3) The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions.

 

 

 

Three Months Ended June 30, 2025

   Company
Drivers		     Subhaulers     Total  
Revenue                  
Revenue, before fuel surcharge   $ 38,619,199     $ 68,753,160     $ 107,372,359  
Fuel surcharge and other reimbursements     2,721,177       4,081,078       6,802,255  
Other Revenue     112,692       575,430       688,122  
Lease Revenue     —       683,850       683,850  
Segment Revenue   $ 41,453,068     $ 74,093,518     $ 115,546,586  
Total consolidated                   $ 115,546,586  
Less:                        
Salaries, wages and benefits     16,662,947       4,703,414       21,366,361  
Fuel and fuel taxes     6,779,856       -       6,779,856  
Purchased transportation     -       58,948,018       58,948,018  
Truck expenses     6,438,424       -       6,438,424  
Depreciation     5,588,144       2,032,888       7,621,032  
Other segment items(1)     2,754,013       4,840,640       7,594,653  
Segment Operating profit   $ 3,229,684     $ 3,568,558     $ 6,798,242  
Reconciliation of segment operating profit to income before income taxes:                        
Other profit/(loss)(2)                   $ (6,672,884 )
Interest Expense                     (1,837,876 )
Acquisition Costs                     (274,705 )
Other Income, net                     105,069  
Loss Before Income Taxes                   $ (1,882,154 )
                         
Other Segment Disclosures:                        
Depreciation(3)   $ 5,588,144     $ 2,032,888     $ 7,621,032  
Intangible amortization(2)                     2,454,641  
Consolidated Depreciation and Amortization                   $ 10,075,673  

 

(2) Other profit/(loss) relates to items not included within the Company’s measure of Segment Operating profit / (loss), these include corporate and unallocated expenses which were not included within the measures of segment profitability regularly reviewed by the CODM. These include $1,090,332 in Salaries, wages and benefits, $1,221,497 in Stock Based Compensation, $25,948 in Depreciation and amortization, $2,454,641 in Intangible Amortization, $314,496 in Insurance Premiums and Claims, and $1,565,970 in General Selling, and other Operating expenses.