Elite Express Holding Inc. — Third Quarter 2026 Earnings Summary

Financial Performance

• Revenue for the three months ended August 31, 2026, was $766,422, a 20.9% increase from $633,865 in the same period in 2025.
• Gross profit increased to $95,759 from $6,817 in the prior-year period, with gross margin improving to 12.5% from 1.1%.
• Cost of revenue rose 7.0% to $670,663 from $627,048, driven by increased maintenance, repair costs, and vehicle rental expenses.
• General and administrative expenses surged 570.9% to $1,017,024 from $151,600, primarily due to higher professional fees ($137,337), payroll ($586,252), and franchise taxes ($120,108).
• Net loss for the quarter was $760,138, compared to a net loss of $185,881 in the prior-year period.
• Interest income from the loans receivable portfolio totaled $135,359 for the quarter, contributing to total other income of $161,127.
• For the nine months ended August 31, 2026, revenue was $2,298,549 compared to $1,956,258 in 2025; net loss was $3,403,184 compared to $498,484.
• Cash and cash equivalents increased to $3,003,589 as of August 31, 2026, from $1,308,529 as of November 30, 2025.
• Loans receivable increased to $11,549,811 from $9,999,811.
• Total stockholders' equity was $17,788,683 as of August 31, 2026, up from $13,191,867 as of November 30, 2025.

Business Segments and Product Lines

• Activity-based revenue accounted for $545,879 (71.2% of total revenue) in Q3 2026, down from 75.4% in the prior year.
• Fixed revenue increased to $216,230 from $155,644, primarily due to higher weekly service charge rates under the renewed ISP agreement with FedEx.
• Other pickup and delivery revenue grew to $4,313 from $516.
• The Company renewed its ISP agreement with FedEx on February 21, 2026.
• R&D expenses were $0 for the quarter but totaled $2,150,000 for the nine months ended August 31, 2026.

Other Key Points

• The Company entered into new loan agreements with unrelated third-party borrowers totaling $1.9 million during the quarter, bearing 5% annual interest and maturing in 12 months.
• Maturity dates for the original loan portfolio were extended to November 30, 2026, with an annual interest rate of 5%.
• The Company transitioned to a public company, resulting in increased costs for audit services, financial reporting, and SEC compliance.
• Net cash used in operating activities for the nine months ended August 31, 2026, was $4,741,858, compared to $640,210 in the prior year.
• Net cash provided by financing activities for the nine months ended August 31, 2026, was $7,993,336.
• Weighted average shares outstanding for the quarter were 47,325,368, up from 13,288,411 in the prior year.
• Loss per common share (basic and diluted) was $(0.02) for the quarter, compared to $(0.01) in the prior year.