Radiant Logistics to restate prior financials; receives NYSE non-compliance notice for late 10-K

RADIANT LOGISTICS, INC

Restatement due to errors in accrual of in-transit revenues and costs; fiscal 2021 annual and all quarterly periods in 2021 and 2022 should no longer be relied upon.
Preliminary FY2021 impact: Net income overstated by $0.4-0.5M, revenues understated $14.1-17.3M, total liabilities understated $21.5-26.3M.
Adjusted EBITDA for FY2021 overstated by $0.5-0.7M from previously reported $48.8M.
NYSE American issued notice for failure to timely file FY2022 10-K; company has up to 6 months to regain compliance.
Company expects to file restated 10-K within 30 days.

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