Elite Express Q3 Loss Widens 309% as G&A Costs Explode
ETS has more than doubled off its 52-week low of $0.39.
Summary
Elite Express reported Q3 2026 revenue of $766,422, up 20.9% year over year, but net loss ballooned to $760,138 from $185,881 a year ago. The culprit: general and administrative expenses surged 570.9% to $1,017,024, driven by $586,252 in higher payroll and $137,337 in professional fees tied to public-company compliance. Gross margin improved to 12.5% from 1.1%, but that was overwhelmed by the cost spike. The company also disclosed a material weakness in internal controls related to FedEx data verification, per the 10-Q filed today. With a $300M shelf registration already on file, the widening losses and control issues raise concerns about cash burn and future dilution.
At the time of this announcement, ETS was trading at $1.90 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $84.6M. The 52-week trading range was $0.39 to $2.75. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.