Elite Express Holding Inc (ETS) Q1 2026 Earnings Report

Elite Express Holding Inc. reported QQ1 2026 revenue of $805,298 with a gross profit of $157,365 and a gross margin of 19.54%. The quarter reflects meaningful top-line activity within Elite Express’s California last-mile trucking footprint, yet operating profitability remains elusive as evidenced by an operating loss of $307,241 and EBITDA of negative $91,976. Net income declined to $-110,104, yielding a net margin of -13.67% and an EPS of -0.01. The company carries no debt, and cash on hand stood at $68,065 at quarter-end, resulting in a net cash position of $-68,065 after considering liabilities and equity structure. The balance sheet shows sizable non-cash assets (goodwill of $668,858 and intangible assets of $473,800) and a large portion of “other current assets” ($11.88 million), contributing to a strong asset base but a relatively light cash liquidity profile for ongoing working-capital needs given current liabilities of $269,005. While liquidity appears supportive due to high current assets, the business is still in the early stages of scale, and profitability hinges on leveraging revenue growth, improving gross margin, and reducing fixed operating expenses.