Proficient Auto Logistics, Inc
For the period ended Dec 31, 2025. Filed Mar 31, 2026.
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FY2025 · Filed Mar 31, 2026
PAL$3.38+11.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
CONSOLIDATED BALANCE SHEETS
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $14,285,745 | $15,398,714 |
| Accounts receivable, less allowance for credit losses (2025 - $826,740; 2024 - $134,372) | 42,188,909 | 37,394,656 |
| Net investment in leases, current portion | 126,730 | 266,447 |
| Maintenance supplies | 1,714,238 | 1,356,814 |
| Assets held for sale | 28,500 | 265,900 |
| Income tax receivable | 1,791,544 | 2,944,742 |
| Prepaid expenses and other current assets | 11,261,497 | 10,060,169 |
| Total current assets | 71,397,163 | 67,687,442 |
| Property and equipment, net of accumulated depreciation (2025 - $ 43,500,044; 2024 - $15,541,572) | 115,850,061 | 122,636,636 |
| Operating lease right-of-use assets | 12,633,834 | 10,970,536 |
| Net investment in leases, less current portion | 21,781 | 175,330 |
| Deposits | 6,124,946 | 4,676,679 |
| Goodwill | 148,476,407 | 169,056,675 |
| Intangible assets, net of accumulated amortization (2025 - $17,615,109; 2024 - $5,709,360) | 122,804,891 | 132,490,640 |
| Other long-term assets | 668,426 | 393,006 |
| Total assets | $477,977,509 | $508,086,944 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | $8,305,255 | $9,829,355 |
| Accrued liabilities | 33,030,001 | 21,826,519 |
| Finance lease liabilities, current portion | 8,758 | 89,184 |
| Operating lease liabilities, current portion | 2,249,651 | 1,825,970 |
| Long-term debt, current portion | 20,303,077 | 19,052,903 |
| Total current liabilities | 63,896,742 | 52,623,931 |
| Long-term liabilities: | ||
| Line of credit | — | 7,000,000 |
| Finance lease liabilities, less current portion | — | 8,343 |
| Operating lease liabilities, less current portion | 10,689,839 | 9,258,234 |
| Long-term debt, less current portion | 54,026,968 | 56,336,911 |
| Deferred tax liability, net | 34,900,440 | 42,638,079 |
| Other long-term liabilities | 3,073,049 | 2,241,923 |
| Total liabilities | 166,587,038 | 170,107,421 |
| Commitments and contingencies (Note 18) | ||
| Stockholders’ equity: | ||
| 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 | 356,179,787 | 346,756,929 |
| (Accumulated deficit) retained earnings | (45,067,663) | (9,048,097) |
| Total stockholders’ equity | 311,390,471 | 337,979,523 |
| Total liabilities and stockholders’ equity | $477,977,509 | $508,086,944 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.