Cheetah Net Supply Chain Service Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending September 30, 2025. The company generated total revenue of $361,935 for the third quarter, a substantial increase of 491.3% compared to $61,208 in the same period last year. For the nine months ended September 30, 2025, revenue reached $1,195,860, up 416.3% from $231,605 in the prior year. This growth is attributed primarily to the acquisition of TWEW, which contributed significantly to the logistics and warehousing services segment.
Despite the increase in revenue, Cheetah Net reported a net loss of $1,314,650 for the third quarter, compared to a loss of $1,815,292 in the same quarter of 2024. The loss from continuing operations before income taxes was $1,314,650, reflecting a slight increase in operational challenges. The company also recorded an impairment loss of $731,307 related to goodwill and intangible assets, which contributed to the overall loss. General and administrative expenses decreased to $801,263 from $1,102,454 year-over-year, indicating cost-saving measures were implemented.
The company has undergone a strategic shift, discontinuing its parallel-import vehicle business due to declining market conditions and focusing on logistics and warehousing services. This transition was formalized on March 3, 2025, when the board approved the discontinuation of the vehicle business. The company has since concentrated on expanding its logistics operations, particularly through its subsidiaries Edward and TWEW, which provide freight forwarding and labor support services.
Operationally, Cheetah Net's total current assets as of September 30, 2025, were reported at $9.7 million, down from $11 million at the end of 2024. The company holds $8.3 million in loan receivables, which is a key component of its current asset base. The total liabilities decreased slightly to $2.7 million from $2.8 million at the end of 2024. The company’s cash and cash equivalents were reported at $153,692, a significant decline from $1.65 million at the end of the previous fiscal year, reflecting the ongoing transition and operational costs.
Looking ahead, Cheetah Net aims to enhance its market presence in logistics and warehousing services while navigating the challenges posed by the ongoing U.S.-China trade tensions and evolving market conditions. The company is focused on improving operational efficiencies and expanding its service offerings to stabilize its financial performance and achieve profitability in the future.
About CHEETAH NET SUPPLY CHAIN SERVICE INC.
Cheetah Net Supply Chain Service Inc. operates in international logistics and warehousing, specializing in freight forwarding, cargo storage, U.S. customs clearance, and labor services between the U.S. and China. Formerly focused on parallel-import luxury vehicles for the Chinese market, the company shifted to logistics, leveraging its expertise and carrier relationships. It serves U.S.-based merchants and importers, acting as a Non-Vessel-Operating Common Carrier (NVOCC) to streamline cross-border supply chains.
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