Cheetah Net (CTNT) Q2 2026 earnings summary

Executive summary

• Transitioned from parallel-import vehicle sales to logistics, warehousing, and international trading, focusing on construction machinery trading after acquiring Super International in May 2026.

• Discontinued the parallel-import vehicle business in March 2025 due to market decline and credit losses, reclassifying all related results as discontinued operations.

• Revenue for Q2 2026 rose 145.4% year-over-year to $868,909, driven by the acquisition of Super International and expansion into international trading.

• Net income from continuing operations was $71,045 in Q2 2026, reversing a net loss of $512,528 in Q2 2025, primarily due to significant foreign exchange gains.

• Completed the disposition of Edward Transit Express Group in April 2026 to streamline operations and focus on higher-priority opportunities.

Financial highlights

• For Q2 2026, revenue from continuing operations was $868,909, up 145.4% year-over-year; six-month revenue was $961,609, up 15.3%.

• Net income from continuing operations for Q2 2026 was $71,045, compared to a net loss of $512,528 in Q2 2025.

• Six-month net loss from continuing operations narrowed to $545,220 from $1,266,437 year-over-year.

• Gross profit for Q2 2026 was $19,500, with a gross margin of 2.2%.

• Other income, net, surged to $993,766 in Q2 2026, mainly due to foreign exchange gains.

Outlook and guidance

• Management expects continued integration and development of international trading and logistics, with a focus on operational efficiency and market expansion.

• Sufficient liquidity is expected for at least the next 12 months, supported by $2.1 million in cash and $74.1 million in working capital as of June 30, 2026.

• The company will continue to evaluate strategic opportunities to diversify revenue and support long-term growth.

• Liquidity improvement measures include generating cash from operations, pursuing debt financing, and potentially seeking equity financing.