Revenue volatility remains acute, with a sharp 80.7% year-over-year decline in 2026Q1 and gross margins compressing to 21.4% from historical peaks above 50%.
| Sales/Revenue | 901.44K | 1.29M | 455.81K | 38.32M | 55.15M | 39.2M |
| Revenue Growth % | 216.69% | 182.69% | -98.81% | -30.53% | 40.68% | - |
| Cost of Goods Sold | 771.05K | 1.12M | 277.29K | 34.07M | 50.68M | 36.2M |
| COGS % of Revenue | - | 87.06% | 60.84% | 88.92% | 91.9% | 92.34% |
| Gross Profit | 130.39K | 166.78K | 178.51K | 4.25M | 4.47M | 3M |
| Gross Margin % | 14.46% | 12.94% | 39.16% | 11.08% | 8.1% | 7.66% |
| Gross Profit Growth % | - | -6.57% | -95.8% | -4.98% | 48.91% | - |
| Operating Expenses | 3.78M | 4.01M | 3.91M | 2.86M | 941.54K | 861.24K |
| OpEx % of Revenue | - | 311.32% | 857.91% | 7.46% | 1.71% | 2.2% |
| Selling, General & Admin | 3.66M | 3.86M | 3.83M | 2.81M | 2.28M | 861.24K |
| SG&A % of Revenue | - | 299.9% | 840.29% | 7.33% | 4.14% | 2.2% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 123.48K | 147.25K | 80.33K | 50.84K | -1.34M | 0 |
| Operating Income | -3.65M | -3.84M | -3.73M | 1.39M | 3.53M | 2.14M |
| Operating Margin % | -404.76% | -298.38% | -818.75% | 3.62% | 6.4% | 5.46% |
| Operating Income Growth % | - | -3.02% | -368.82% | -60.65% | 64.84% | - |
| EBITDA | -3.03M | -3.11M | -3.37M | 1.53M | 3.7M | 2.23M |
| EBITDA Margin % | -336.09% | -241.21% | -739.46% | 3.99% | 6.7% | 5.68% |
| EBITDA Growth % | -31.79% | 7.78% | -320.53% | -58.66% | 65.96% | - |
| D&A (Non-Cash Add-back) | 618.94K | 736.62K | 361.38K | 140.15K | 169.5K | 87.79K |
| EBIT | -3.63M | -3.6M | -3.41M | 1.42M | 3.49M | 2.43M |
| Net Interest Income | 835.19K | 887.5K | 275.86K | -1.24M | -2.49M | -1.08M |
| Interest Income | 867.28K | 924.22K | 320.47K | -16.19K | - | - |
| Interest Expense | 32.09K | 36.72K | 44.61K | 1.22M | 2.49M | 1.08M |
| Other Income/Expense | 151.52K | 210.96K | 283.87K | -1.21M | -2.48M | -746.03K |
| Pretax Income | -3.5M | -3.63M | -3.45M | 180.53K | 1.05M | 1.39M |
| Pretax Margin % | -387.95% | -282.01% | -756.47% | 0.47% | 1.91% | 3.56% |
| Income Tax | 14.96K | 15.92K | -215.82K | 46.66K | 234.48K | 223.87K |
| Effective Tax Rate % | -0.43% | -0.44% | 6.26% | 25.84% | 22.3% | 16.06% |
| Net Income | -3.51M | -3.65M | -5.19M | 133.87K | 816.98K | 1.17M |
| Net Margin % | -389.61% | -283.24% | -1138.39% | 0.35% | 1.48% | 2.98% |
| Net Income Growth % | 34.16% | 29.66% | -3976.04% | -83.61% | -30.18% | - |
| Net Income (Continuing) | -3.51M | -3.65M | -3.23M | 133.87K | 816.98K | 1.17M |
| Discontinued Operations | 0 | 0 | -1.96M | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -215.24 | -224.00 | -530.00 | 1.64 | 9.12 | 13.06 |
| EPS Growth % | 58.14% | 57.74% | -32417.07% | -82.02% | -30.17% | - |
| EPS (Basic) | - | -224.00 | -530.00 | 1.64 | 9.12 | 13.06 |
| Diluted Shares Outstanding | 16.32K | 16.32K | 9.78K | 8.96K | 8.96K | 8.96K |
| Basic Shares Outstanding | 16.32K | 16.32K | 9.78K | 8.96K | 8.96K | 8.96K |
| Dividend Payout Ratio | - | - | - | - | - | - |
Regulatory and liquidity insolvency
As evidenced by the erratic quarterly revenue figures, including a significant contraction from $5.8 million in 2023Q4 to $92.7K in 2026Q1, the company's top-line performance appears highly unstable and lacks the consistent volume required to sustain its specialized luxury vehicle export business model.
The extreme fluctuations in revenue suggest that the company's reliance on niche arbitrage opportunities is subject to severe disruption, likely stemming from regulatory shifts or supply chain bottlenecks. Investors should note that the absence of recurring revenue streams makes the top line hypersensitive to individual transaction failures, rendering growth projections unreliable.
Based on reported financial statements, the gross margin has experienced significant volatility, dropping from historical highs above 50% to 21.4% in 2026Q1, which indicates that the company possesses minimal pricing power against luxury OEMs and sourcing partners in the parallel import market.
The inability to maintain stable gross margins suggests that the company is a price-taker in a highly commoditized and regulatory-sensitive environment. This margin erosion implies that the core arbitrage spread is being squeezed by rising logistics costs and potential manufacturer crackdowns on grey-market exports.
According to recent SEC filings, the company's SG&A expenses consistently dwarf its gross profit, with 2026Q1 SG&A of $770K against a gross profit of only $19.9K, highlighting a fundamental lack of operating leverage in the current business structure.
The persistent operating losses suggest that the company's fixed cost base is disproportionately high for its current scale of operations. Without a massive increase in transaction volume, the current cost structure appears to be a permanent drag on profitability, necessitating a strategic reassessment of overhead efficiency.
As reported in financial statements, the company's net income remains consistently negative, with a net loss of $616.3K in 2026Q1, further complicated by the use of stock-based compensation which dilutes shareholders without providing a clear path to operational profitability.
The reliance on stock-based compensation during periods of significant net losses warrants caution, as it suggests management is incentivized despite the lack of bottom-line performance. Investors should monitor whether these non-cash expenses are masking the true extent of the company's cash burn and capital destruction.
Based on the provided data, the company's cash position of $233,217 is critically low relative to the capital-intensive nature of luxury vehicle inventory, suggesting that the business may face an imminent liquidity crisis if it cannot secure external financing or achieve immediate, profitable scale.
Short-sellers would likely focus on the disconnect between the company's high-volume aspirations and its inability to generate positive cash flow from operations. The reliance on transactional arbitrage in a volatile geopolitical environment presents a high risk of total business model failure should regulatory barriers tighten further.
Quick answers to the most common questions about buying CTNT stock.
For fiscal year 2025, Cheetah Net Supply Chain Service Inc. (CTNT) reported total revenue of $1.3M. This represents a 96.7% decline compared to $39.2M in 2021.
Cheetah Net Supply Chain Service Inc. (CTNT) reported a net loss of $3.6M for the fiscal year ending 2025.
Cheetah Net Supply Chain Service Inc. (CTNT) reported an operating income of $-3.8M, resulting in an operating profit margin of -298.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Cheetah Net Supply Chain Service Inc. (CTNT) generated $0.2M in gross profit for the year, representing a gross profit margin of 12.9%. This demonstrates the company's core pricing power and production efficiency.