Revenue remains highly inconsistent with quarterly figures fluctuating between $55.9 million and $115.5 million, while operating income reached a deep loss of -$72.4 million in 2026Q1.
| Sales/Revenue | 428.91M | 430.43M | 240.85M | 135.76M |
| Revenue Growth % | 27.63% | 78.71% | 77.42% | - |
| Cost of Goods Sold | 374.73M | 396.54M | 194.63M | 118.3M |
| COGS % of Revenue | - | 92.13% | 80.81% | 87.14% |
| Gross Profit | 54.18M | 33.89M | 46.22M | 17.45M |
| Gross Margin % | 12.63% | 7.87% | 19.19% | 12.86% |
| Gross Profit Growth % | - | -26.69% | 164.84% | - |
| Operating Expenses | 107.86M | 17.49M | 54.12M | 7.1M |
| OpEx % of Revenue | - | 4.06% | 22.47% | 5.23% |
| Selling, General & Admin | -10.24M | 0 | 32.86M | 7.27M |
| SG&A % of Revenue | - | - | 13.64% | 5.36% |
| Research & Development | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - |
| Other Operating Expenses | 764.9K | 17.49M | 21.26M | -173.86K |
| Operating Income | -53.68M | 16.4M | -7.89M | 10.35M |
| Operating Margin % | -12.52% | 3.81% | -3.28% | 7.63% |
| Operating Income Growth % | - | 307.79% | -176.23% | - |
| EBITDA | -23.28M | 55.71M | 13.52M | 12.88M |
| EBITDA Margin % | -5.43% | 12.94% | 5.61% | 9.49% |
| EBITDA Growth % | -214.29% | 312.15% | 4.96% | - |
| D&A (Non-Cash Add-back) | 30.4M | 39.31M | 21.41M | 2.52M |
| EBIT | -53.72M | 16.4M | -8.04M | 10.35M |
| Net Interest Income | -3.62M | -6.59M | -4.01M | -953.67K |
| Interest Income | 0 | 0 | 0 | 0 |
| Interest Expense | 3.62M | 6.59M | 4.01M | 953.67K |
| Other Income/Expense | 8.38M | -57.3M | 662.66K | -953.67K |
| Pretax Income | -45.3M | -40.9M | -7.23M | 9.4M |
| Pretax Margin % | -10.56% | -9.5% | -3% | 6.92% |
| Income Tax | -8.56M | -7.45M | 1.25M | 2.24M |
| Effective Tax Rate % | 18.89% | 18.22% | -17.23% | 23.87% |
| Net Income | -36.74M | -33.45M | -8.48M | 7.16M |
| Net Margin % | -8.57% | -7.77% | -3.52% | 5.27% |
| Net Income Growth % | -223.54% | -294.63% | -218.43% | - |
| Net Income (Continuing) | -36.74M | -33.45M | -8.48M | 7.16M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.32 | -1.21 | -0.47 | 0.30 |
| EPS Growth % | -149.06% | -157.45% | -256.67% | - |
| EPS (Basic) | - | -1.21 | -0.47 | 0.30 |
| Diluted Shares Outstanding | 27.83M | 27.58M | 17.94M | 24.11M |
| Basic Shares Outstanding | 27.83M | 27.58M | 17.94M | 24.11M |
| Dividend Payout Ratio | - | - | - | - |
Cyclical Automotive Demand Exposure
As reported in recent financial statements, PAL's revenue trajectory remains highly volatile, with quarterly figures fluctuating between $55.9 million and $115.5 million throughout 2024 and 2025, reflecting the inherent instability of a newly consolidated entity attempting to stabilize its core finished vehicle logistics operations.
The wide variance in quarterly revenue suggests that the company is still struggling to achieve consistent volume throughput across its newly integrated network. Investors should monitor whether the recent revenue peaks are sustainable or merely a byproduct of initial contract onboarding following the corporate combination.
Based on the provided income statement data, PAL's gross margin has exhibited extreme swings, ranging from a negative 18.9% in 2025Q4 to a positive 30.7% in 2025Q3, indicating significant operational friction and a lack of predictable pricing power within its specialized automotive freight niche.
These erratic margin shifts imply that the company has not yet established a stable cost-to-revenue relationship, likely due to the high variable costs associated with third-party capacity reliance. The inability to maintain consistent gross profitability suggests that the current operating model is highly sensitive to spot-market rate fluctuations.
According to the company's historical income statements, PAL has failed to demonstrate positive operating leverage, with operating income frequently dipping into deep negative territory, such as the -$79.3 million loss reported in 2025Q3, despite periods of significant revenue growth across the same fiscal timeframe.
The lack of scalability in operating income indicates that overhead and integration costs are currently outpacing the company's ability to generate gross profit. This suggests that the firm's current cost structure is too heavy to support its existing revenue base without further operational rationalization.
As indicated by the reported financial figures, PAL's net income has remained consistently negative, with net margins reaching as low as -24.4% in 2025Q4, a trend that appears heavily influenced by non-recurring integration expenses and the ongoing costs of consolidating five distinct logistics entities.
The persistent net losses warrant further investigation into whether these are truly transitory restructuring costs or indicative of a fundamentally unprofitable business model. The presence of stock-based compensation alongside these losses suggests that shareholder dilution may be occurring while the company struggles to reach a break-even point.
Based on an analysis of the provided data, the most significant risk to the investment thesis is the company's inability to convert revenue into positive operating income, as evidenced by the -$72.4 million operating loss recorded in 2026Q1 despite substantial top-line activity.
Short-sellers would likely focus on the company's inability to achieve consistent profitability, which may indicate that the 'roll-up' strategy is failing to capture expected synergies. The reliance on external capacity in a cyclical industry suggests that margin compression risks are elevated if automotive production volumes soften.
Quick answers to the most common questions about buying PAL stock.
For fiscal year 2025, Proficient Auto Logistics, Inc. Common Stock (PAL) reported total revenue of $430.4M. This represents a 217.1% increase compared to $135.8M in 2023.
Proficient Auto Logistics, Inc. Common Stock (PAL) reported a net loss of $33.4M for the fiscal year ending 2025.
Proficient Auto Logistics, Inc. Common Stock (PAL) reported an operating income of $16.4M, resulting in an operating profit margin of 3.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Proficient Auto Logistics, Inc. Common Stock (PAL) generated $33.9M in gross profit for the year, representing a gross profit margin of 7.9%. This demonstrates the company's core pricing power and production efficiency.