Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Information About our Reportable Segments

The following table summarizes information about our reportable segments: 

Year ended December 31, 2024	Company Drivers		Brokered		Total
Revenue
Revenue, before fuel surcharge	$	80,364,399	$	141,690,607	$	222,055,006
Fuel surcharge and other reimbursements		5,907,191		10,395,695		16,302,886
Other Revenue		995,507		513,711		1,509,218
Lease Revenue		-		987,417		987,417
Segment Revenue	$	87,267,097	$	153,587,430	$	240,854,527
Total consolidated					$	240,854,527
Less:
Salaries, wages and benefits		30,842,256		11,903,783		42,746,039
Fuel and fuel taxes		16,128,862		-		16,128,862
Purchased transportation		-		119,908,760		119,908,760
Truck expenses		12,952,229		-		12,952,229
Depreciation		11,282,400		4,411,237		15,693,637
Other segment items(1)		10,582,496		9,046,245		19,628,741
Segment Operating profit/(loss)	$	5,478,854	$	8,317,405	$	13,796,259
Reconciliation of segment operating profit to income before income taxes:
Other profit/(loss)(2)					$	(21,688,800	)
Interest Expense						(4,007,661	)
Acquisition Costs						(1,226,915	)
Earn Out Contingency Gain / Loss						3,095,114
Other Income, net						311,351
Income Before Income Taxes					$	(9,720,652	)
Other Segment Disclosures:
Depreciation and amortization(3)	$	11,282,400	$	4,411,237	$	15,693,637
Intangible amortization(2)						5,714,748
Consolidated Depreciation and Amortization					$	21,408,385

⁽¹⁾ Other segment items for each reportable segment include General, selling, and other operating expenses, Gain on sale of equipment and Insurance premiums and claims.

⁽²⁾ Other profit/(loss) relates to items not included within the Company’s measure of Segment Operating profit / (loss), these include corporate and unallocated expenses which were not included within the measures of segment profitability regularly reviewed by the CODM. These include $2,894,687 in Salaries, wages and benefits, $8,883,142 in Stock Based Compensation, $5,388 in Depreciation and amortization, $5,709,360 in Intangible Amortization, $757,028 in Insurance Premiums and Claims, and $3,439,195 in General Selling, and other Operating expenses.

⁽³⁾ The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions.

Predecessor
For the period from January 1 to May 12, 2024	Company Drivers			Brokered			Total
Revenue
Revenue, before fuel surcharge	$	6,749,129		$	32,198,658		$	38,947,787
Fuel surcharge and other reimbursements		819,998			1,253,089			2,073,087
Other Revenue		-			-			-
Lease Revenue		-			196,814			196,814
Segment Revenue	$	7,569,127		$	33,648,561		$	41,217,688
Total consolidated							$	41,217,688
Less:
Salaries, wages and benefits		5,328,667			22,155,104			27,483,771
Fuel and fuel taxes		1,119,549			-			1,119,549
Purchased transportation		-			25,995,763			25,995,763
Truck expenses		1,886,793			-			1,886,793
Depreciation & Amortization		872,783			62,205			934,988
Other segment items(1)		986,536			3,830,253			4,816,789
Segment Operating profit/(loss)	$	(2,625,201	)	$	(18,394,764	)	$	(21,019,965	)
Reconciliation of segment operating profit to income before income taxes:
Interest Expense								(717,431	)
Other Income, net								2,078
Income Before Income Taxes							$	(21,735,318	)
Other Segment Disclosures:
Depreciation and amortization(3)	$	872,783		$	62,205		$	934,988
Consolidated Depreciation and Amortization							$	934,988

⁽¹⁾ Other segment items for each reportable segment include General, selling, and other operating expenses, Gain on sale of equipment and Insurance premiums and claims.

⁽²⁾ The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions.

Predecessor
Year ended December 31, 2023	Company Drivers		Brokered			Total
Revenue
Revenue, before fuel surcharge	$	38,475,802	$	87,961,558		$	126,437,360
Fuel surcharge and other reimbursements		4,927,753		4,390,880			9,318,633
Other Revenue		-		-			-
Lease Revenue				-			-
Segment Revenue	$	43,403,555	$	92,352,438		$	135,755,993
Total consolidated						$	135,755,993
Less:
Salaries, wages and benefits		14,410,374		6,025,092			20,435,466
Fuel and fuel taxes		4,461,319		-			4,461,319
Purchased transportation		11,326,888		72,516,409			83,843,297
Truck expenses		7,038,979		(316	)		7,038,663
Depreciation		2,347,084		176,887			2,523,971
Other segment items(1)		3,529,522		3,570,301			7,099,823
Segment Operating profit/(loss)	$	289,389	$	10,064,065		$	10,353,454
Reconciliation of segment operating profit to income before income taxes:
Interest Expense							(953,667	)
Income Before Income Taxes						$	9,399,787
Other Segment Disclosures:
Depreciation and amortization(3)	$	2,347,084	$	176,887		$	2,523,971
Consolidated Depreciation and Amortization						$	2,523,971

⁽¹⁾ Other segment items for each reportable segment include General, selling, and other operating expenses, Gain on sale of equipment and Insurance premiums and claims.

⁽²⁾ General, selling, and other operating expenses not attributable to operating segments. These amounts relate to corporate overhead and other activities not attributable to a reporting segment.

⁽³⁾ The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions.

Predecessor
Year ended December 31, 2022	Company Drivers		Brokered		Total
Revenue
Revenue, before fuel surcharge	$	33,268,483	$	82,840,382	$	116,108,865
Fuel surcharge and other reimbursements		6,297,435		7,753,774		14,051,209
Other Revenue		-		-		-
Lease Revenue				-		-
Segment Revenue	$	39,565,918	$	90,594,156	$	130,160,074
Total consolidated					$	130,160,074
Less:
Salaries, wages and benefits		15,915,240		6,978,081		22,893,321
Fuel and fuel taxes		7,213,180		-		7,213,180
Purchased transportation		-		70,337,687		70,337,687
Truck expenses		7,057,649		6,328		7,063,977
Depreciation		2,230,791		58,235		2,289,026
Other segment items(1)		3,834,880		1,834,412		5,669,292
Segment Operating profit/(loss)	$	3,314,178	$	11,379,413	$	14,693,591
Reconciliation of segment operating profit to income before income taxes:
Interest Expense						(1,163,508	)
Income Before Income Taxes					$	13,530,083
Other Segment Disclosures:
Depreciation and amortization(3)	$	2,230,791	$	58,235	$	2,289,026
Consolidated Depreciation and Amortization					$	2,289,026

⁽¹⁾ Other segment items for each reportable segment include General, selling, and other operating expenses, Gain on sale of equipment and Insurance premiums and claims.

⁽²⁾ General, selling, and other operating expenses not attributable to operating segments. These amounts relate to corporate overhead and other activities not attributable to a reporting segment.

⁽³⁾ The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions.