Armlogi (BTOC) Q4 2026 earnings summary

Executive summary

• Fiscal 2026 revenue declined 2.4% year-over-year to $185.8 million, driven by a 21.9% increase in warehousing services offset by a 14.5% drop in transportation services.

• Warehousing services grew to 41.5% of total revenue, reflecting a strategic shift toward platform-bundled fulfillment programs.

• Net loss widened to $20.9 million from $15.3 million, with EPS at $(0.47) versus $(0.37) year-over-year.

• Gross profit improved to $0.4 million from a $3.0 million loss, as cost of service fell 4.1%.

• Convertible notes were fully settled, reducing total liabilities by $22.4 million to $122.7 million.

Financial highlights

• Total revenue: $185.8 million, down $4.6 million year-over-year.

• Warehousing revenue: $77.1 million, up $13.9 million (21.9%).

• Transportation revenue: $108.6 million, down $18.4 million (14.5%).

• Gross profit: $0.4 million (0.2% margin), versus a $3.0 million loss (negative 1.6% margin).

• Net loss: $20.9 million, compared to $15.3 million prior year.

Outlook and guidance

• Priorities for fiscal 2027 include raising warehouse utilization, especially in recently expanded facilities, and executing a cost-optimization plan.

• Focus on diversifying the customer base across e-commerce platforms and geographies, including Southeast Asia and Mexico.

• Plans to invest in supply-chain technology and warehouse automation to lower unit costs.