---
schema_version: "secwatch.filing_event.v1"
accession: "0001709682-25-000022"
form_type: "8-K"
ticker: "CTOS"
cik: "0001709682"
company_name: "Custom Truck One Source, Inc."
filed_at: "2025-04-30T23:59:59+00:00"
generated_at: "2026-05-23T02:29:59.555028+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# CTOS Q1 revenue up 2.7% to $422M; net loss widens to $17.8M; reaffirms 2025 guidance

## Summary
- Total revenue $422.2M (+2.7% YoY); rental revenue up 9.5% to $116.3M; equipment sales flat.
- Net loss of $17.8M vs. $14.3M loss in Q1 2024; adjusted EBITDA $73.4M down 5.1% YoY.
- ERS fleet utilization 77.7% (up from 73.3%); average OEC on rent +13% YoY to $1.20B.
- TES revenue down 3.1% to $232.5M; sales order backlog $420M as of March 31, 2025.
- Reaffirms 2025 guidance: revenue $1.97-$2.06B, adjusted EBITDA $370-$390M; targets $50-$100M levered free cash flow.

## SEC filing metadata
- accession: 0001709682-25-000022
- form_type: 8-K
- ticker: CTOS
- cik: 0001709682
- company_name: Custom Truck One Source, Inc.
- filed_at: 2025-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1709682/000170968225000022/0001709682-25-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1709682/000170968225000022/ctos-20250430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001709682-25-000022
- JSON: https://secwatch.observer/filing/0001709682-25-000022.json
- Plain text: https://secwatch.observer/filing/0001709682-25-000022.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.