Here are 1-3 brief analogies to describe Radiant Logistics:

• Like a **global travel agent, but for commercial goods** instead of people, arranging shipments via air, ocean, and ground carriers worldwide.
• They act as a **general contractor for a company's supply chain**, managing and coordinating all the different transportation providers, warehouses, and customs processes to get products where they need to go.
• Similar to **C.H. Robinson (CHRW)**, they are a large third-party logistics (3PL) company that orchestrates freight transportation and supply chain services without owning a vast fleet of their own vehicles.

• Air Freight Forwarding: Arranges the domestic and international transportation of goods via air carriers.
• Ocean Freight Forwarding: Organizes the domestic and international shipment of goods using ocean carriers.
• Freight Brokerage: Connects shippers with ground transportation solutions, including truckload, less than truckload (LTL), and intermodal services.
• Materials Management: Provides services for the storage, handling, and tracking of goods throughout the supply chain.
• Distribution Services: Manages the warehousing and delivery of products from suppliers to customers.
• Customs House Brokerage: Facilitates international trade by handling customs clearance and documentation requirements.

Radiant Logistics (RLGT) primarily serves other companies across various industries. While specific major customer names are not publicly disclosed by the company, Radiant Logistics' client base includes companies in the following sectors:

• Consumer goods
• Food and beverage
• Manufacturing
• Retail

Bohn H. Crain, Chairman and Chief Executive Officer

Bohn H. Crain has served as Chairman and Chief Executive Officer of Radiant Logistics since October 2005. He is also the founder of Radiant Logistics, Inc.. In 2005, Mr. Crain founded Radiant Capital Partners, LLC, with the objective of executing a consolidation strategy within the transportation and logistics sector. Prior to Radiant, he was executive vice president and chief financial officer of Stonepath Group, Inc., a global non-asset-based provider of third-party logistics services, from 2002 to 2005. In 2001, he served as executive vice president and chief financial officer of Schneider Logistics, Inc., another third-party logistics company. His career also includes serving as vice president and treasurer of Florida East Coast Industries, Inc., a public company, from 2000 to 2001, and holding various vice president and treasury positions for CSX Corporation, a Fortune 500 transportation company, and its subsidiaries between 1989 and 2000. Radiant Logistics has executed 33 acquisitions since its inception and has acquired more than 50 companies in the logistics field.

Todd E. Macomber, Senior Vice President and Chief Financial Officer

Todd E. Macomber has served as Senior Vice President and Chief Financial Officer of Radiant Logistics since March 2011. Before this role, he was senior vice president and chief accounting officer starting in August 2010, and vice president and corporate controller from December 2007. Before joining Radiant, Mr. Macomber was senior vice president and chief financial officer of Biotrace International, Inc., a subsidiary of Biotrace International PLC, an industrial microbiology company listed on the London Stock Exchange.

Arnold Goldstein, Senior Vice President & Chief Commercial Officer

Arnold Goldstein has served as Senior Vice President and Chief Commercial Officer of Radiant Logistics since June 30, 2016. In this role, he is responsible for driving organic growth across the organization and supporting all network brands in their growth initiatives. He is described as an experienced Chief Executive/Operating Officer with a background in the logistics and supply chain industry.

John W. Sobba, Senior Vice President, General Counsel & Secretary

John W. Sobba holds the title of Senior Vice President, General Counsel & Secretary at Radiant Logistics.

Laurent Grousseau, Senior Vice President and Chief Technology Officer

Laurent Grousseau was appointed Senior Vice President and Chief Technology Officer in September 2024. He brings over three decades of experience in the transportation and logistics industry. His prior roles include Chief Information Officer at Pilot Freight Services and EVP IT and CIO Americas for CEVA Logistics, as well as leadership positions at Kuehne + Nagel, Inc.. Mr. Grousseau is responsible for enhancing the company's information systems and integrating newly acquired companies into Radiant's technology platform.

Here are the key risks to the business of Radiant Logistics (RLGT):

1. Freight Market Volatility and Margin Compression: Radiant Logistics faces significant risk from the volatility of the freight market, including declining freight rates and stagnating volumes. This directly pressures the company's revenue and gross profit margins, even with its asset-light business model. Recent financial reports indicate revenue contraction and gross profit margin compression, highlighting the immediate impact of a "freight recession" on profitability.

2. Key Man Risk: The company has a notable key man risk associated with its Chairman and CEO, Bohn H. Crain. He is identified as the architect of Radiant's acquisition strategy and the largest shareholder. Investors place a premium on his capital allocation discipline, and his potential departure could lead to a contraction in the company's multiple and significantly impact its strategic direction.

3. Technology Execution and Competition from Digital-First Competitors: Radiant Logistics is investing in its Navegate platform to remain competitive with "digital-first competitors" like Flexport. There is a risk that overspending on technology without achieving sufficient adoption could become a "permanent drag on ROIC" (Return on Invested Capital). More broadly, the third-party logistics industry faces challenges related to outdated technology and ensuring successful technology integration, which can lead to operational inefficiencies and errors.

The rapid emergence and widespread adoption of highly automated, AI-driven digital freight brokerage and logistics platforms pose a significant emerging threat to Radiant Logistics. These technology-centric platforms leverage artificial intelligence, machine learning, and advanced analytics to optimize carrier matching, dynamic pricing, route planning, and real-time tracking. By offering greater efficiency, transparency, and potentially lower costs, these platforms can disintermediate traditional third-party logistics providers and freight brokers, directly connecting shippers with carriers and reducing the reliance on conventional, human-intensive brokerage and forwarding services.

Radiant Logistics, Inc. operates in several key addressable markets primarily within the United States and Canada. Based on available data, the market sizes for their main products and services are as follows:

• Freight Forwarding Services (Air and Ocean)
  • The North America air freight market is approximately USD 42 billion (U.S.).
  • The North America sea freight forwarding market is estimated at USD 79.95 billion in 2025. In the same year, the U.S. market for ocean freight forwarding was valued at USD 23,829.7 million, and Canada's was USD 4,004.68 million.
• Freight Brokerage Services (Truckload, Less-Than-Truckload, and Intermodal)
  • The U.S. freight brokerage market was valued at USD 19.01 billion in 2025 and is projected to reach USD 39.93 billion by 2034. Another estimate places the U.S. market at USD 21.28 billion in 2026, growing to USD 30.17 billion by 2031. North America held the largest share of the global freight brokerage market in 2024.
  • The Canada freight brokerage services market is estimated at USD 1.58 billion in 2025 and is expected to reach USD 2.32 billion by 2030.
  • Specifically, the U.S. Full-Truckload (FTL) freight brokerage market was valued at USD 16.33 billion in 2025.
• Customs House Brokerage Services
  • The Canada customs brokerage market is estimated at USD 790.78 million in 2026 and is expected to reach USD 970.26 million by 2031.

Radiant Logistics (RLGT) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and market factors:

1. Strategic Acquisitions and Operating Partner Conversions: The company consistently emphasizes the ongoing execution of tuck-in acquisitions and the conversion of strategic operating partners to company-owned locations. This strategy expands Radiant's operational footprint and optimizes its structure, leveraging a favorable valuation environment for acquisitions and a strong balance sheet.
2. Leveraging Technology for Organic Growth: Radiant Logistics is focused on organic growth by utilizing its proprietary technology platform, Navegate, and its new AI agent, "Ray." Navegate, acquired in 2021, is designed to aggregate and organize supply chain data, offering customers improved routing and capacity purchasing options, and is seen as a catalyst for organic growth. The introduction of "Ray" aims to streamline international operations and will expand into additional AI-powered solutions.
3. Strengthening and Expanding Customer Relationships: A core component of Radiant's organic growth strategy involves strengthening existing customer relationships and cultivating new ones. This is achieved by leveraging the benefits of its technology platform and diverse service offerings to meet evolving customer needs.
4. Expansion of Service Offerings and Geographic Reach: Radiant Logistics plans to expand its service capabilities and geographic presence. This growth is pursued both organically and through strategic acquisitions, allowing the company to offer a more comprehensive suite of logistics solutions and extend its market penetration across various regions.

Share Repurchases

• Radiant Logistics' board of directors authorized the repurchase of up to five million shares of the Company's common stock through December 31, 2027, as announced on November 17, 2025.
• On December 5, 2023, the board had previously authorized the repurchase of up to five million shares through December 31, 2025.
• The company purchased 445,058 shares of its common stock for approximately $2.7 million during the three months ended December 31, 2025.

Share Issuance

• The number of shares outstanding for Radiant Logistics was 47.16 million at the end of 2025, 46.94 million in 2024, 46.99 million in 2023, 48.24 million in 2022, and 49.65 million in 2021.

Outbound Investments

• In September 2025, Radiant Logistics acquired an 80% ownership interest in Weport, S.A. de C.V., a Mexico-based logistics provider.
• Radiant Logistics acquired Transcon Shipping Co., Inc., a California-based ocean freight forwarding services company, in March 2025.
• The company acquired Texas-based Universal Logistics, Inc. in May 2025, which had been operating under Radiant's Airgroup brand since 2001.

Capital Expenditures

• Capital expenditures as a share of operating cash flow are expected to taper after 2026.