P
Proficient Auto Logistics, Inc
PALCIK 0001998768NasdaqNon-AcceleratedEmerging GrowthTransportation ServicesDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-36.02M
Total Assets
$477.98M
Equity
$311.39M
Shares Out
27.73M
Op. Cash Flow
—
Business
Proficient Auto Logistics, Inc provides specialized auto transportation and logistics services focused on moving finished and used vehicles. It offers services including new and used vehicle transport, dedicated contract services, regional storage yard operations, route planning and dispatching, and brokered transportation. The company operates through two reportable segments: an asset-based Company Drivers segment that uses company-owned tractors and trailers and a Brokered segment that outsources loads to third-party carriers. It serves customers across the United States from a network of leased facilities, transporting vehicles from OEM plants, ports and rail hubs to dealerships, auctions, rental and leasing companies.
Summary from filing dated 2025-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Stock-based compensation | 6 | 9 | — | — | |
| Intangible amortization | 10 | 6 | — | — | |
| Insurance premiums and claims | — | 757,028 | — | — | |
| General, selling, and other operating expenses | 6 | 3 | — | — | |
| Adjustment of Earn Out Contingency | −3 | −3 | — | — | |
| Restructuring Costs | −1 | — | — | — | |
| Income tax (benefit) expense | −7 | −1 | 2 | 3 | |
| Net (loss) income | −36 | −8 | — | — | |
| Basic (in Dollars per share) | −1.31 | −0.47 | — | — | |
| Basic (in Shares) | 28 | 18 | — | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | 14 | 15 | — | |
| Accounts receivable, less allowance for credit losses (2025 - $826,740; 2024 - $134,372) | 42 | 37 | — | |
| Net investment in leases, current portion | 126,730 | 266,447 | — | |
| Maintenance supplies | 2 | 1 | — | |
| Assets held for sale | 28,500 | 265,900 | — | |
| Income tax receivable | 2 | 3 | — | |
| Prepaid expenses and other current assets | 11 | 10 | 3 | |
| Total current assets | 71 | 68 | — | |
| Property and equipment, net of accumulated depreciation (2025 - $ 43,500,044; 2024 - $15,541,572) | 116 | 123 | 18 | |
| Operating lease right-of-use assets | 13 | 11 | — | |
| Net investment in leases, less current portion | 21,781 | 175,330 | — | |
| Deposits | 6 | 5 | — | |
| Goodwill | 148 | 169 | — | |
| Intangible assets, net of accumulated amortization and impairment (2025 - $17,615,109; 2024 - $5,709,360) | 123 | 132 | — | |
| Other long-term assets | 668,426 | 393,006 | — | |
| Total assets | 478 | 508 | — | |
| Accounts payable | 8 | 10 | — | |
| Accrued liabilities | 33 | 22 | — | |
| Finance lease liabilities, current portion | 8,758 | 89,184 | — | |
| Operating lease liabilities, current portion | 2 | 2 | — | |
| Long-term debt, current portion | 20 | 19 | — | |
| Total current liabilities | 64 | 53 | — | |
| Line of credit | — | 7 | — | |
| Finance lease liabilities, less current portion | — | 8,343 | — | |
| Operating lease liabilities, less current portion | 11 | 9 | — | |
| Long-term debt, less current portion | 54 | 56 | — | |
| Deferred tax liability, net | 35 | 43 | — | |
| Other long-term liabilities | 3 | 2 | — | |
| Total liabilities | 167 | 170 | — | |
| Commitments and contingencies (Note 18) | — | — | — | |
| Common stock, $0.01 par value; 50,000,000 shares authorized; 27,834,799 and 27,069,114 shares issued and outstanding as of December 31, 2025 and December 31, 2024 respectively | 278,347 | 270,691 | — | |
| Additional paid in capital | 356 | 347 | — | |
| (Accumulated deficit) retained earnings | −45 | −9 | — | |
| Total stockholders equity | 311 | 338 | — | |
| Total liabilities and stockholders equity | 478 | 508 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Depreciation and amortization expense | 88,321 | 5,388 | — | — | |
| Interest income | −31,866 | −24,466 | −2,488 | −3,488 | |
| Deferred income tax expense (benefit) | −8 | −1 | 857,541 | 2 | |
| Income tax receivable | −1 | — | — | — | |
| Payment of finance fees | — | −386,825 | — | — | |
| Cash paid for taxes | 1 | — | — | — |
Filings
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