Elite Express Holding Narrows Q1 Loss to $110K Despite Cash Burn
Elite Express Holding Inc., a Delaware-based transportation holding company, posted a net loss of $110,104 for the three months ending February 28, 2026, a 46% improvement from the $205,000 loss in the prior-year quarter. Cash from operations turned sharply negative at $1.25 million outflow.
Elite Express Holding Inc., a Delaware-based transportation holding company, reported a net loss of $110,104 for the three months ending February 28, 2026, nearly halving the $204,999 loss recorded in the same quarter a year earlier. The company swung to a gross profit of $157,365 from a gross loss of $32,407 in the prior-year period. Read more earnings reports.
Revenue climbed 16% to $805,298 for the quarter ended February 28, 2026, up from $692,143 in the year-ago quarter. Cost of revenue fell to $647,933 from $724,550, driving the improvement in gross margin.
Operating expenses surged 64% to $464,606 from $283,619, pushing the operating loss to $307,241 compared to an operating loss of $316,026 in the prior-year quarter. The company recorded an income tax expense of $1,600 for the current quarter compared to a tax benefit of $106,298 in the year-ago period.
Cash and cash equivalents plunged to $68,065 as of February 28, 2026, down from $1.31 million three months earlier. The company burned through $1.25 million in operating cash during the quarter, a significant deterioration from the $297,091 outflow in the prior-year quarter. Cash from investing activities generated $43,582, while financing activities consumed $35,407.
Total assets declined to $13.35 million as of February 28, 2026, from $13.71 million on November 30, 2025. Current assets fell to $12.04 million from $12.38 million over the same period. Accounts receivable rose to $84,411 from $72,582.
Total liabilities dropped to $269,005 from $513,155, driven by a decline in current liabilities. Stockholders' equity stood at $13.08 million as of February 28, 2026, down from $13.19 million three months prior. The company had 16.72 million common shares outstanding at quarter end.
Elite Express reported a loss per share of $0.01 for the quarter, improving from a loss of $0.02 in the year-ago period, based on 16.72 million weighted average shares outstanding.
| Metric | Q1 FY2026 (Feb 28, 2026) | Q1 FY2025 (Feb 28, 2025) |
|---|---|---|
| Revenue | $805,298 | $692,143 |
| Cost of Revenue | $647,933 | $724,550 |
| Gross Profit (Loss) | $157,365 | ($32,407) |
| Operating Expenses | $464,606 | $283,619 |
| Operating Loss | ($307,241) | ($316,026) |
| Net Loss | ($110,104) | ($204,999) |
| EPS (Diluted) | ($0.01) | ($0.02) |
| Cash from Operations | ($1,248,639) | ($297,091) |
| Cash and Cash Equivalents | $68,065 | $168,066* |
*Prior year cash position as of February 28, 2025