Quarterly ResultMay 14, 2026, 06:12 AM
Cheetah Net Q1 Net Loss $(616K); Assets $51M; $40M PIPE
AI Summary
Cheetah Net Supply Chain Service Inc. reported a net loss of $(616,265) for Q1 2026, an improvement from $(753,909) in Q1 2025, despite a significant revenue decrease to $92,700. The company's total assets surged to $50.99 million from $11.86 million, largely due to $40.14 million in proceeds from a private placement and a corresponding deposit on a long-term investment. The company is undergoing a business transformation, shifting its focus from parallel-import vehicle sales (discontinued in March 2025) to logistics and warehousing services, and completed a 1-for-200 reverse stock split in April 2026.
Key Highlights
- Net loss improved to $(616,265) in Q1 2026 from $(753,909) in Q1 2025.
- Revenue decreased to $92,700 in Q1 2026 from $479,799 in Q1 2025.
- Total assets surged to $50.99 million as of March 31, 2026, from $11.86 million.
- Received $40.14 million from a private placement (PIPE) in Q1 2026.
- Made a $40.13 million deposit for a pending long-term investment.
- Completed a 1-for-200 reverse stock split effective April 20, 2026.
- Discontinued parallel-import vehicle business in March 2025.
- Net cash used in operating activities was $(2.46) million in Q1 2026.