Elite Express FY26 Q2 net loss widens to $2.53 million; revenue rises 15.3% to $726,829 vs FY25 Q2
ETS•FY26 Q2 results
Elite Express posted a net loss of USD 2.53 million for the quarter ended May 31, 2026, widening from the prior-year quarter.
Revenue rose 15.3% to USD 726,829, helped by higher weekly service charges under an updated FedEx contract and higher fuel surcharge revenue.
Gross profit climbed to USD 81,037, lifting gross margin to 11.3% from 2.8% a year earlier.
FedEx contract renewal
FedEx renewed its ISP agreement on Feb. 21, 2026 through Jan. 1, 2027, raising weekly service charge rates while lowering certain activity-based fee standards.
Costs and operating loss
Operating loss widened to USD 2.78 million as general and administrative expense jumped to USD 706,072 and R&D expense was USD 2.15 million.
