专业自动物流公司2025年季度报告

Index Condensed Consolidated Balance Sheets as of March 31, 2025 (unaudited) (Successor) and December 31, 20241Condensed Consolidated Statement of Operations for the three months ended March 31, 2025 (Successor), the threemonths ended March 31, 2024 (Successor) and the three months ended March 31, 2024 (Predecessor) (unaudited)2Condensed Consolidated Statement of Stockholders’ Equity for the three months ended March 31, 2025 (Successor), thethree months ended March 31, 2024 (Successor) and the three months ended March 31, 2024 (Predecessor) (unaudited)3Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2025 (Successor), the threemonths ended March 31, 2024 (Successor) and the three months ended March 31, 2024 (Predecessor) (unaudited)4Notes to Condensed Consolidated Financial Statements (unaudited)5 EXPLANATORY NOTE On May 13, 2024, Proficient Auto Logistics, Inc. (“Proficient”) completed the initial public offering (the “IPO”) of itscommon stock. Prior to the IPO, Proficient had entered into agreements (the “Combination Agreements”) to acquire in multiple,separate acquisitions (the “Combinations”) five operating businesses and their respective affiliated entities, as applicable, operatingunder the following names: (i)Delta Automotive Services, Inc. (which converted to Delta Automotive Services, LLC in an F-reorganizationon April29, 2024), doing business as Delta Auto Transport, Inc. (“Delta”), (ii)Deluxe Auto Carriers, Inc. (“Deluxe”),(iii)Sierra Mountain Group, Inc. (“Sierra”), (iv)Proficient Auto Transport, Inc. (“Proficient Transport”), and (v)Tribeca Automotive For accounting and reporting purposes, Proficient has been identified as the designated accounting acquirer (“Successor”) ofeachof the Founding Companies and Proficient Transport has been identified as the designated accounting predecessor(“Predecessor”) to the Company (as defined below). The Successor financial information presented herein includes results ofoperations for the period ended March 31, 2025 from the acquired businesses as well as expenses from the acquiring entity. As a result,the unaudited condensed consolidated financial statements as of, and for the three months ended, March 31, 2024 for Proficient(Successor) and the three months ended March 31, 2024 for Proficient Transport (Predecessor) are included in this Quarterly Reporton Form 10-Q. The Company is not required to provide, and this Quarterly Report on Form 10-Q does not contain, pro forma financialdata giving effect to the completion of the Combinations and the completion of the IPO and the use of the proceeds therefrom.However, the Company is providing summary unaudited combined financial information for the threemonths ended March 31, 2024. Unless the context requires otherwise, references in this Quarterly Report on Form 10-Q to “Proficient” refers to thesuccessor company, Proficient Auto Logistics, Inc., both prior to the Combinations, and to Proficient Auto Logistics, Inc. and itssubsidiaries after giving effect to the Combinations. PROFICIENT AUTO LOGISTICS, INC. AND SUBSIDIARIESNOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Note1 —Nature of operations AH Acquisition Corp. was formed on June13, 2023, pursuant to the laws of the State of Delaware to become a holdingcompany for the consolidation of several operating companies within the automobile transportation industry. Subsequently, on Proficient is an industry leading specialized freight company focused on providing auto transportation and logistics services.The Company offers a broad range of auto transportation and logistics services, primarily focused on transporting finished vehiclesfrom automotive production facilities, marine ports of entry, or regional rail yards to auto dealerships around the country. We havedeveloped a differentiated business model due to our scale, breadth of geographic coverage, and embedded customer relationshipswith leading auto original equipment manufacturing companies (“OEMs”). Our customers range from large, global auto companies, to Note2 —Summary of significant accounting policies Basis of Presentation— The condensed consolidated financial statements and footnotes have been prepared in conformity On May 13, 2024, Proficient Auto Logistics, Inc. (“Proficient”) completed the initial public offering (the “IPO”) of itscommon stock. Prior to the IPO, Proficient had entered into agreements (the “Combination Agreements”) to acquire in multiple,separate acquisitions (the “Combinations”)fiveoperating businesses and their respective affiliated entities, as applicable, operatingunder the following names: (i) Delta Automotive Services, Inc. (which converted to Delta Automotive Services, LLC in an F-reorganization on April 29, 2024), doing business as Delta Auto Transport, Inc. (“Delta”), (ii) Deluxe Auto Carriers, Inc. (“Deluxe”),(iii) Sierra Mountain Group, Inc. (“Sierra”), (iv) Proficient Auto Transport, Inc. (“Proficient Transport”),