Proficient Auto Logistics Reports $210.8M Revenue, Narrows Net Loss in Latest 10-Q

Proficient Auto Logistics, Inc. reported significant financial performance improvements in its latest 10-Q filing for the six months ending June 30, 2025. The company generated total operating revenue of $210.8 million, a substantial increase from $41.2 million during the same period in the previous year. This growth was primarily driven by the integration of five acquired companies, which contributed to a 306% increase in revenue from the Subhaulers segment and an 879% increase in the Company Drivers segment. Despite the revenue surge, Proficient recorded a net loss of $4.7 million, compared to a loss of $15.4 million in the prior year, indicating a narrowing of losses.

The company underwent significant changes compared to the previous fiscal period, notably completing its initial public offering (IPO) on May 13, 2024, and acquiring five operating businesses, including Delta Automotive Services and Deluxe Auto Carriers. These acquisitions were part of a strategic effort to expand Proficient's geographic presence and service offerings. The company also made subsequent acquisitions, including Auto Transport Group and Utah Truck & Trailer Repair, further enhancing its operational capabilities.

Operationally, Proficient's workforce grew to 785 employees, reflecting the company's expansion efforts. The number of transport vehicles in operation increased to approximately 1,350, including 920 company-owned units. The company reported a significant rise in operating expenses, totaling $213 million, driven by increased salaries, fuel costs, and purchased transportation expenses, which rose in line with the expanded operations. The operating ratio improved to 101.1%, down from 151.0% in the previous year, indicating enhanced operational efficiency.

Management attributed the changes in financial performance to the successful integration of acquired businesses and the resulting economies of scale. The company is focused on achieving synergies across its operations, which is expected to further improve profitability in the future. Looking ahead, Proficient anticipates continued growth driven by its expanded service offerings and customer base, although it remains cautious about market volatility and economic conditions that could impact demand for its services. The company is also actively working to enhance its internal controls following the identification of a material weakness in its financial reporting processes.