XML 24 R5.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Operations - USD ($)
4 Months Ended 12 Months Ended
May 12, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Successor        
Operating revenue        
Total operating revenue   $ 240,854,527    
Operating Expenses        
Salaries, wages and benefits   45,640,725    
Stock-based compensation   8,883,142    
Fuel and fuel taxes   16,128,862    
Purchased transportation   119,908,760    
Truck expenses   12,952,229    
Depreciation   15,699,025    
Intangible amortization   5,709,360    
Gain on sale of equipment   (149,683)    
Insurance premiums and claims   13,396,730    
General, selling, and other operating expenses   10,577,918    
Total Operating Expenses   248,747,068    
Operating (loss) income   (7,892,541)    
Other income and (expense)        
Interest expense   (4,007,661)    
Acquisition Costs   (1,226,915)    
Adjustment of Earn Out Contingency   3,095,114    
Other income, net   311,351    
Total other expense, net   (1,828,111)    
(Loss) Income before income taxes   (9,720,652)    
Income tax (benefit) expense   (1,245,384)    
Net (loss) income   $ (8,475,268)    
Loss Per Share        
Basic (in Dollars per share)   $ (0.47)    
Diluted (in Dollars per share)   $ (0.47)    
Weighted Average Shares        
Basic (in Shares)   17,937,853    
Diluted (in Shares)   17,937,853    
Successor | Revenue, before fuel surcharge        
Operating revenue        
Total operating revenue   $ 222,055,006    
Successor | Fuel surcharge and other reimbursements        
Operating revenue        
Total operating revenue   16,302,886    
Successor | Other Revenue        
Operating revenue        
Total operating revenue   1,509,218    
Successor | Lease Revenue        
Operating revenue        
Total operating revenue   $ 987,417    
Predecessor        
Operating revenue        
Total operating revenue $ 41,217,688   $ 135,755,993 $ 130,160,074
Operating Expenses        
Salaries, wages and benefits 27,483,771   20,435,466 22,893,321
Stock-based compensation  
Fuel and fuel taxes 1,119,549   4,461,319 7,213,180
Purchased transportation 25,995,763   83,843,297 70,337,687
Truck expenses 1,886,793   7,038,663 7,063,977
Depreciation 934,988   2,523,971 2,289,026
Intangible amortization  
Gain on sale of equipment (235,081)   (173,859) (47,847)
Insurance premiums and claims 1,107,047   3,161,673 2,554,731
General, selling, and other operating expenses 3,944,823   4,112,009 3,162,408
Total Operating Expenses 62,237,653   125,402,539 115,466,483
Operating (loss) income (21,019,965)   10,353,454 14,693,591
Other income and (expense)        
Interest expense (717,431)   (953,667) (1,163,508)
Acquisition Costs  
Adjustment of Earn Out Contingency  
Other income, net 2,078  
Total other expense, net (715,353)   (953,667) (1,163,508)
(Loss) Income before income taxes (21,735,318)   9,399,787 13,530,083
Income tax (benefit) expense (6,350,642)   2,243,617 3,130,964
Net (loss) income (15,384,676)   7,156,170 10,399,119
Predecessor | Revenue, before fuel surcharge        
Operating revenue        
Total operating revenue 38,947,787   126,437,360 116,108,865
Predecessor | Fuel surcharge and other reimbursements        
Operating revenue        
Total operating revenue 2,073,087   9,318,633 14,051,209
Predecessor | Other Revenue        
Operating revenue        
Total operating revenue  
Predecessor | Lease Revenue        
Operating revenue        
Total operating revenue $ 196,814