Proficient Auto Logistics, Inc Segments Disclosure
Note 15 — 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 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:
Successor
| Year ended December 31, 2025 | Company Drivers | Subhauler | Total | |||||||||
| Revenue | ||||||||||||
| Revenue, before fuel surcharge | $ | 143,603,890 | $ | 253,023,569 | $ | 396,627,459 | ||||||
| Fuel surcharge and other reimbursements | 9,185,508 | 16,702,249 | 25,887,757 | |||||||||
| Other Revenue | 1,809,337 | 2,574,537 | 4,383,874 | |||||||||
| Lease Revenue | 3,526,084 | 3,526,084 | ||||||||||
| Segment Revenue | $ | 154,598,735 | $ | 275,826,439 | $ | 430,425,174 | ||||||
| Total consolidated | $ | 430,425,174 | ||||||||||
| Less: | ||||||||||||
| Salaries, wages and benefits | 60,409,154 | 19,791,925 | 80,201,079 | |||||||||
| Fuel and fuel taxes | 25,757,819 | 25,757,819 | ||||||||||
| Purchased transportation | 215,153,626 | 215,153,626 | ||||||||||
| Truck expenses | 25,549,240 | 25,549,240 | ||||||||||
| Depreciation | 21,683,313 | 7,754,747 | 29,438,060 | |||||||||
| Goodwill & Intangible Impairment | 27,787,000 | 27,787,000 | ||||||||||
| Other segment items(1) | 13,852,354 | 17,774,454 | 31,626,808 | |||||||||
| Segment Operating profit/(loss) | $ | 7,346,855 | $ | (12,435,313 | ) | $ | (5,088,458 | ) | ||||
| Reconciliation of segment operating profit to income before income taxes: | ||||||||||||
| Other profit/(loss)(2) | $ | (30,246,424 | ) | |||||||||
| Interest Expense | (6,588,973 | ) | ||||||||||
| Acquisition Costs | (438,514 | ) | ||||||||||
| Earn Out Contingency Gain / Loss | (1,243,171 | ) | ||||||||||
| Other Income, net | 364,326 | |||||||||||
| Income Before Income Taxes | $ | (43,241,214 | ) | |||||||||
| Other Segment Disclosures: | ||||||||||||
| Depreciation and amortization(3) | $ | 21,683,313 | $ | 7,754,747 | $ | 29,438,060 | ||||||
| Intangible amortization(2) | 9,779,749 | |||||||||||
| Consolidated Depreciation and Amortization | $ | 39,217,809 | ||||||||||
| (1) | Other segment items for each reportable segment include General, selling, and other operating expenses, Gain on sale of equipment and Insurance premiums and claims. |
| (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 $5,041,528 in Salaries, wages and benefits, $5,527,316 in Stock Based Compensation, $88,321 in Depreciation and amortization, $9,779,749 in Intangible Amortization, $4,226,175 in Insurance Premiums and Claims, and $5,583,335 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. |
| Year ended December 31, 2024 | Company Drivers |
Subhauler | Total | |||||||||
| Revenue | ||||||||||||
| Revenue, before fuel surcharge | $ | 80,364,399 | $ | 141,690,607 | $ | 222,055,006 | ||||||
| Fuel surcharge and other reimbursements | 5,907,191 | 10,395,695 | 16,302,886 | |||||||||
| Other Revenue | 995,507 | 513,711 | 1,509,218 | |||||||||
| Lease Revenue | 987,417 | 987,417 | ||||||||||
| Segment Revenue | $ | 87,267,097 | $ | 153,587,430 | $ | 240,854,527 | ||||||
| Total consolidated | $ | 240,854,527 | ||||||||||
| Less: | ||||||||||||
| Salaries, wages and benefits | 30,842,256 | 11,903,783 | 42,746,039 | |||||||||
| Fuel and fuel taxes | 16,128,862 | 16,128,862 | ||||||||||
| Purchased transportation | 119,908,760 | 119,908,760 | ||||||||||
| Truck expenses | 12,952,229 | 12,952,229 | ||||||||||
| Depreciation | 11,282,400 | 4,411,237 | 15,693,637 | |||||||||
| Other segment items(1) | 10,582,496 | 9,046,245 | 19,628,741 | |||||||||
| Segment Operating profit/(loss) | $ | 5,478,854 | $ | 8,317,405 | $ | 13,796,259 | ||||||
| Reconciliation of segment operating profit to income before income taxes: | ||||||||||||
| Other profit/(loss)(2) | $ | (21,688,800 | ) | |||||||||
| Interest Expense | (4,007,661 | ) | ||||||||||
| Acquisition Costs | (1,226,915 | ) | ||||||||||
| Earn Out Contingency Gain / Loss | 3,095,114 | |||||||||||
| Other Income, net | 311,351 | |||||||||||
| Income Before Income Taxes | $ | (9,720,652 | ) | |||||||||
| Other Segment Disclosures: | ||||||||||||
| Depreciation and amortization(3) | $ | 11,282,400 | $ | 4,411,237 | $ | 15,693,637 | ||||||
| Intangible amortization(2) | 5,714,748 | |||||||||||
| Consolidated Depreciation and Amortization | $ | 21,408,385 | ||||||||||
| (1) | Other segment items for each reportable segment include General, selling, and other operating expenses, Gain on sale of equipment and Insurance premiums and claims. |
| (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 $2,894,687 in Salaries, wages and benefits, $8,883,142 in Stock Based Compensation, $5,388 in Depreciation and amortization, $5,709,360 in Intangible Amortization, $757,028 in Insurance Premiums and Claims, and $3,439,195 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. |
| Predecessor | ||||||||||||
| For the period from January 1 to May 12, 2024 | Company Drivers | Subhauler | Total | |||||||||
| Revenue | ||||||||||||
| Revenue, before fuel surcharge | $ | 6,749,129 | $ | 32,198,658 | $ | 38,947,787 | ||||||
| Fuel surcharge and other reimbursements | 819,998 | 1,253,089 | 2,073,087 | |||||||||
| Other Revenue | ||||||||||||
| Lease Revenue | 196,814 | 196,814 | ||||||||||
| Segment Revenue | $ | 7,569,127 | $ | 33,648,561 | $ | 41,217,688 | ||||||
| Total consolidated | $ | 41,217,688 | ||||||||||
| Less: | ||||||||||||
| Salaries, wages and benefits | 5,328,667 | 22,155,104 | 27,483,771 | |||||||||
| Fuel and fuel taxes | 1,119,549 | 1,119,549 | ||||||||||
| Purchased transportation | 25,995,763 | 25,995,763 | ||||||||||
| Truck expenses | 1,886,793 | 1,886,793 | ||||||||||
| Depreciation & Amortization | 872,783 | 62,205 | 934,988 | |||||||||
| Other segment items(1) | 986,536 | 3,830,253 | 4,816,789 | |||||||||
| Segment Operating profit/(loss) | $ | (2,625,201 | ) | $ | (18,394,764 | ) | $ | (21,019,965 | ) | |||
| Reconciliation of segment operating profit to income before income taxes: | ||||||||||||
| Interest Expense | (717,431 | ) | ||||||||||
| Other Income, net | 2,078 | |||||||||||
| Income Before Income Taxes | $ | (21,735,318 | ) | |||||||||
| Other Segment Disclosures: | ||||||||||||
| Depreciation and amortization(3) | $ | 872,783 | $ | 62,205 | $ | 934,988 | ||||||
| Consolidated Depreciation and Amortization | $ | 934,988 | ||||||||||
| (1) | Other segment items for each reportable segment include General, selling, and other operating expenses, Gain on sale of equipment and Insurance premiums and claims. |
| (2) | The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions. |
| Predecessor | ||||||||||||
| Year ended December 31, 2023 | Company Drivers | Subhaulers | Total | |||||||||
| Revenue | ||||||||||||
| Revenue, before fuel surcharge | $ | 38,475,802 | $ | 87,961,558 | $ | 126,437,360 | ||||||
| Fuel surcharge and other reimbursements | 4,927,753 | 4,390,880 | 9,318,633 | |||||||||
| Other Revenue | ||||||||||||
| Lease Revenue | ||||||||||||
| Segment Revenue | $ | 43,403,555 | $ | 92,352,438 | $ | 135,755,993 | ||||||
| Total consolidated | $ | 135,755,993 | ||||||||||
| Less: | ||||||||||||
| Salaries, wages and benefits | 14,410,374 | 6,025,092 | 20,435,466 | |||||||||
| Fuel and fuel taxes | 4,461,319 | 4,461,319 | ||||||||||
| Purchased transportation | 11,326,888 | 72,516,409 | 83,843,297 | |||||||||
| Truck expenses | 7,038,979 | (316 | ) | 7,038,663 | ||||||||
| Depreciation | 2,347,084 | 176,887 | 2,523,971 | |||||||||
| Other segment items(1) | 3,529,522 | 3,570,301 | 7,099,823 | |||||||||
| Segment Operating profit/(loss) | $ | 289,389 | $ | 10,064,065 | $ | 10,353,454 | ||||||
| Reconciliation of segment operating profit to income before income taxes: | ||||||||||||
| Interest Expense | (953,667 | ) | ||||||||||
| Income Before Income Taxes | $ | 9,399,787 | ||||||||||
| Other Segment Disclosures: | ||||||||||||
| Depreciation and amortization(3) | $ | 2,347,084 | $ | 176,887 | $ | 2,523,971 | ||||||
| Consolidated Depreciation and Amortization | $ | 2,523,971 | ||||||||||
| (1) | Other segment items for each reportable segment include General, selling, and other operating expenses, Gain on sale of equipment and Insurance premiums and claims. |
| (2) | General, selling, and other operating expenses not attributable to operating segments. These amounts relate to corporate overhead and other activities not attributable to a reporting segment. |
| (3) | The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions. |
Assets and other balance sheet information are not disclosed by reportable segment as the Company does not track assets by reportable segment and certain assets are not specific to any reportable segment.
Significant segment expenses listed above include Salaries, wages and benefits, Fuel and fuel taxes, Purchased transportation, Truck Expenses, Depreciation and Intangible Amortization, and the CODM monitors these expenses as part of assessing the efficiency and performance of the Company Drivers and Subhaulers Segments.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 31, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.