Elite Express Holding Inc. (Nasdaq: ETS) reported financial results for the quarter ended August 31, 2026, in a press release filed with the SEC on October 14, 2026. The company, a provider of last-mile delivery services, reported total revenue of $766,422 for the third quarter of 2026. This figure represents a 20.9% increase compared to the $633,865 reported in the same period of 2025.
The company’s gross profit for the quarter was $95,759, a significant improvement from $6,817 in the prior year. This resulted in a gross margin of 12.5% for the third quarter of 2026, compared to 1.1% in the prior-year period. The company attributed the improvement in gross margin to higher revenue growth outpacing the increase in cost of revenue.
Despite the operational improvements, Elite Express reported a net loss of $760,138 for the quarter ended August 31, 2026. This compares to a net loss of $185,881 in the same period of 2025. The company cited a 570.9% increase in general and administrative expenses as the primary driver of the wider loss. These expenses rose to $1,017,024, largely due to increased professional fees related to SEC and regulatory compliance, higher payroll expenses, and increased franchise tax expenses.
The company also disclosed details regarding its loan receivable portfolio. For the three months ended August 31, 2026, the portfolio generated interest income of $135,359. The company entered into additional loan agreements with unrelated third-party borrowers during the quarter, with an aggregate principal amount of $1.9 million bearing an annual interest rate of 5% and maturing in 12 months.
On the balance sheet as of August 31, 2026, the company reported cash and cash equivalents of $3,003,589. The company’s total assets were reported at $18,173,813, with total stockholders’ equity standing at $17,788,683.
