Quarterly Financial Data (Unaudited and Restated) (Tables)

12 Months Ended

Jun. 30, 2022

Quarterly Financial Information Disclosure [Abstract]

Schedule of Restated Consolidated Financial Information

The restated consolidated balance sheet line items for the first through the third fiscal quarters of 2022 are as follows:

	Originally Reported						Adjustment							Restated
(In thousands)	Q1		Q2		Q3		Q1		Q2		Q3			Q1		Q2		Q3
Contract assets	$	32,625	$	73,268	$	59,894	$	30,571	$	33,580	$	13,992		$	63,196	$	106,848	$	73,886
Total current assets		208,187		284,767		342,536		30,571		33,580		13,992			238,758		318,347		356,528
Total assets		383,074		490,575		554,934		30,571		33,580		13,992			413,645		524,155		568,926
Accounts payable		98,374		136,309		164,932		29,212		32,675		14,489			127,586		168,984		179,421
Operating partner commissions payable		15,645		19,395		16,038		382		502		178			16,027		19,897		16,216
Accrued expenses		7,162		10,588		11,512		49		20		(34	)		7,211		10,608		11,478
Income tax payable		134		1,411		4,271		227		94		(157	)		361		1,505		4,114
Total current liabilities		136,669		184,013		212,193		29,870		33,291		14,476			166,539		217,304		226,669
Total liabilities		217,088		321,282		369,749		29,870		33,291		14,476			246,958		354,573		384,225
Retained earnings		67,446		74,394		88,733		701		289		(484	)		68,147		74,683		88,249
Total equity		165,986		169,293		185,185		701		289		(484	)		166,687		169,582		184,701

The restated line items of the consolidated statements of comprehensive income for the three-month periods ended September 30, 2021; December 31, 2021; and March 31, 2022 are as follows:

	Originally Reported			Adjustment			Restated
(In thousands, except per share data)	Q1	Q2	Q3	Q1	Q2	Q3	Q1	Q2	Q3
Revenues	$286,115	$332,768	$460,899	$13,283	$3,010	$(19,589)	$299,398	$335,778	$441,310
Cost of transportation and other services	221,233	261,179	376,036	13,447	3,461	(18,187)	234,680	264,640	357,849
Operating partner commissions	28,465	31,049	31,311	(904)	120	(325)	27,561	31,169	30,986
Personnel costs	15,616	16,688	19,907	37	(29)	(54)	15,653	16,659	19,853
Income from operations	9,759	10,598	18,497	703	(542)	(1,023)	10,462	10,056	17,474
Income tax expense	(2,229)	(2,646)	(4,527)	(173)	133	251	(2,402)	(2,513)	(4,276)
Net income	7,165	7,024	15,095	530	(409)	(772)	7,695	6,615	14,323
Net income attributable to Radiant Logistics, Inc.	7,079	6,948	14,339	530	(409)	(772)	7,609	6,539	13,567
Income per share:
Basic	$0.14	$0.14	$0.29	$0.01	$(0.01)	$(0.02)	$0.15	$0.13	$0.27
Diluted	$0.14	$0.14	$0.28	$0.01	$(0.01)	$(0.01)	$0.15	$0.13	$0.27

The restated line items of the consolidated statements of comprehensive income for the six-month period ended December 31, 2021; and nine-month period ended March 31, 2022 are as follows:

	Originally Reported		Adjustment		Restated
	Six Months Ended	Nine Months Ended	Six Months Ended	Nine Months Ended	Six Months Ended	Nine Months Ended
(In thousands, except per share data)	December 31, 2021	March 31, 2022	December 31, 2021	March 31, 2022	December 31, 2021	March 31, 2022
Revenues	$618,884	$1,079,783	$16,292	$(3,297)	$635,176	$1,076,486
Cost of transportation and other services	482,411	858,447	16,909	(1,278)	499,320	857,169
Operating partner commissions	59,514	90,825	(784)	(1,109)	58,730	89,716
Personnel costs	32,304	52,211	8	(46)	32,312	52,165
Income from operations	20,355	38,853	163	(861)	20,518	37,992
Income tax expense	(4,874)	(9,402)	(41)	211	(4,915)	(9,191)
Net Income	14,189	29,284	121	(651)	14,310	28,633
Net income attributable to Radiant Logistics, Inc.	14,027	28,366	121	(651)	14,148	27,715
Income per share:
Basic	$0.28	$0.57	$—	$(0.02)	$0.28	$0.55
Diluted	$0.28	$0.56	$—	$(0.01)	$0.28	$0.55

While the adjustments changed contract assets, accounts payable, and operating partner commissions payable line items in the consolidated cash flow statements, they did not have an impact on total net cash provided by operating activities, net cash used in investing activities, or net cash provided by (used for) financing activities for any of the applicable periods.

The restated line items of the consolidated cash flow statements for the three-months ended September 30, 2021; six-month period ended December 31, 2021; and nine-month period ended March 31, 2022 are as follows:

	Originally Reported			Adjustment			Restated
(In thousands)	Three Months Ended September 30, 2021	Six Months Ended December 31, 2021	Nine Months Ended March 31, 2022	Three Months Ended September 30, 2021	Six Months Ended December 31, 2021	Nine Months Ended March 31, 2022	Three Months Ended September 30, 2021	Six Months Ended December 31, 2021	Nine Months Ended March 31, 2022
OPERATING ACTIVITIES:
Net income	$7,165	$14,189	$29,284	$530	$121	$(651)	$7,695	$14,310	$28,633
ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH (USED FOR) OPERATING ACTIVITIES
CHANGES IN OPERATING ASSETS AND LIABILITIES:
Contract assets	(4,897)	(44,123)	(30,725)	(13,283)	(16,293)	3,296	(18,180)	(60,416)	(27,429)
Income tax receivable/payable	(2,583)	(3,421)	(553)	173	40	(211)	(2,410)	(3,381)	(764)
Accounts payable	10,055	40,952	69,832	13,447	16,908	(1,279)	23,502	57,860	68,553
Operating partner commissions payable	1,866	5,616	2,259	(904)	(784)	(1,109)	962	4,832	1,150
Accrued expenses, other liabilities, and operating lease liability	(1,528)	(2,467)	(4,980)	37	8	(46)	(1,491)	(2,459)	(5,026)
Net cash (used for) operating activities	(15,797)	(19,652)	(6,938)	—	—	—	(15,797)	(19,652)	(6,938)

The restated consolidated balance sheet line items for the fiscal quarters during 2021 are as follows:

	Originally Reported			Adjustment			Restated
(In thousands)	Q1	Q2	Q3	Q1	Q2	Q3	Q1	Q2	Q3
Contract assets	$17,684	$21,651	$26,038	$5,176	$6,031	$13,589	$22,860	$27,682	$39,627
Income tax receivable	974	—	—	64	—	—	1,038	—	—
Total current assets	134,463	146,787	160,964	5,240	6,031	13,589	139,703	152,818	174,553
Total assets	288,862	300,208	328,354	5,240	6,031	13,589	294,102	306,239	341,943
Accounts payable	72,277	76,620	84,597	4,669	5,513	12,657	76,946	82,133	97,254
Operating partner commissions payable	10,781	13,519	12,294	784	47	1,384	11,565	13,566	13,678
Accrued expenses	7,944	6,618	7,705	(14)	23	(23)	7,930	6,641	7,682
Income tax payable	—	384	357	—	110	(105)	—	494	252
Total current liabilities	103,791	110,594	119,180	5,439	5,693	13,913	109,230	116,287	133,093
Total liabilities	150,328	154,972	177,331	5,439	5,693	13,913	155,767	160,665	191,244
Retained earnings	40,512	44,324	49,308	(199)	338	(324)	40,313	44,662	48,984
Total equity	138,534	145,236	151,023	(199)	338	(324)	138,335	145,574	150,699

The restated line items of the consolidated statements of comprehensive income for the three-month periods ended September 30, 2020; December 31, 2020; and March 31, 2021 are as follows:

	Originally Reported			Adjustment			Restated
(In thousands, except per share data)	Q1	Q2	Q3	Q1	Q2	Q3	Q1	Q2	Q3
Revenues	$175,877	$218,805	$236,532	$(1,423)	$855	$7,558	$174,454	$219,660	$244,090
Cost of transportation and other services	129,911	163,504	179,732	(991)	843	7,144	128,920	164,347	186,876
Operating partner commissions	18,589	24,036	23,761	598	(736)	1,337	19,187	23,300	25,098
Personnel costs	12,777	13,735	14,229	(51)	37	(46)	12,726	13,772	14,183
Selling, general and administrative expenses	5,654	5,568	6,688	(715)	—	—	4,939	5,568	6,688
Income from operations	4,787	6,027	5,448	(264)	711	(877)	4,523	6,738	4,571
Income tax expense	(1,078)	(1,402)	(976)	65	(174)	215	(1,013)	(1,576)	(761)
Net income	3,229	3,888	5,061	(199)	537	(662)	3,030	4,425	4,399
Net income attributable to Radiant Logistics, Inc.	3,088	3,812	4,984	(199)	537	(662)	2,889	4,349	4,322
Income per share:
Basic	$0.06	$0.08	$0.10	$—	$0.01	$(0.01)	$0.06	$0.09	$0.09
Diluted	$0.06	$0.07	$0.10	$—	$0.02	$(0.02)	$0.06	$0.09	$0.08

The restated line items of the consolidated statements of comprehensive income for the six-month period ended December 31, 2020; and nine-month period ended March 31, 2021 are as follows:

	Originally Reported						Adjustment						Restated
	Six Months Ended			Nine Months Ended			Six Months Ended			Nine Months Ended			Six Months Ended			Nine Months Ended
(In thousands, except per share data)	December 31, 2020			March 31, 2021			December 31, 2020			March 31, 2021			December 31, 2020			March 31, 2021
Revenues	$	394,682		$	631,214		$	(568	)	$	6,990		$	394,114		$	638,204
Cost of transportation and other services		293,416			473,148			(149	)		6,995			293,267			480,143
Operating partner commissions		42,625			66,386			(138	)		1,199			42,487			67,585
Personnel costs		26,512			40,741			(14	)		(60	)		26,498			40,681
Selling, general and administrative expenses		11,224			17,910			(717	)		(715	)		10,507			17,195
Income from operations		10,812			16,261			449			(429	)		11,261			15,832
Income tax expense		(2,479	)		(3,455	)		(110	)		105			(2,589	)		(3,350	)
Net Income		7,117			12,178			338			(324	)		7,455			11,854
Net income attributable to Radiant Logistics, Inc.		6,900			11,884			338			(324	)		7,238			11,560
Income per share:
Basic	$	0.14		$	0.24		$	0.01		$	—		$	0.15		$	0.24
Diluted	$	0.14		$	0.23		$	0.01		$	—		$	0.15		$	0.23

The restated line items of the consolidated cash flow statements for the three-months ended September 30, 2020; six-month period ended December 31, 2020; and nine-month period ended March 31, 2021 are as follows:

	Originally Reported			Adjustment			Restated
(In thousands)	Three Months Ended September 30, 2020	Six Months Ended December 31, 2020	Nine Months Ended March 31, 2021	Three Months Ended September 30, 2020	Six Months Ended December 31, 2020	Nine Months Ended March 31, 2021	Three Months Ended September 30, 2020	Six Months Ended December 31, 2020	Nine Months Ended March 31, 2021
OPERATING ACTIVITIES:
Net income	$3,229	$7,117	$12,178	$(199)	$338	$(324)	$3,030	$7,455	$11,854
ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES
CHANGES IN OPERATING ASSETS AND LIABILITIES:
Contract assets	(1,364)	(5,312)	(9,688)	(5,176)	(6,031)	(13,589)	(6,540)	(11,343)	(23,277)
Income tax receivable/payable	(185)	1,204	1,197	(64)	110	(105)	(249)	1,314	1,092
Accounts payable	7,453	12,355	20,530	4,669	5,513	12,657	12,122	17,868	33,187
Operating partner commissions payable	1,650	4,387	3,162	784	47	1,384	2,434	4,434	4,546
Accrued expenses, other liabilities, and operating lease liability	(377)	(3,518)	(4,221)	(14)	23	(23)	(391)	(3,495)	(4,244)
Net cash provided by operating activities	13,444	1,913	3,699	—	—	—	13,444	1,913	3,699