AI Earnings Predictions for Elite Express Holding Inc. (ETS)

EX-99.1

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EXHIBIT 99.1

Exhibit 99.1

Elite Express Holding Inc. Reports Third Quarter 2026 Results

LAGUNA HILLS, Calif., October 14, 2026 (GLOBE NEWSWIRE) – Elite Express Holding Inc. (“ETS” or the “Company”) (Nasdaq: ETS), a California-based provider of last-mile delivery services, today reported results for the quarter ended August 31, 2026.

For the three months ended August 31, 2026, the Company reported revenue of $766,422, representing a 20.9% increase compared with the same period in 2025. Gross profit increased to $95,759, compared with $6,817 for the same period in 2025, reflecting continued improvements in operating efficiency. The Company reported a net loss of $760,138, primarily attributable to a significant increase in general and administrative expenses, including professional fees, payroll, and franchise tax expenses.

Yidan Chen, ETS’s CEO, commented, “Our third quarter results reflect continued growth in our delivery operations, with revenue increasing 20.9% year over year and gross profit improving significantly, demonstrating the benefits of our ongoing focus on operational execution and efficiency.

“During the quarter, we continued to optimize route management, fleet utilization, and labor productivity while maintaining our focus on disciplined cost management. Although higher general and administrative expenses impacted our net results, we remain focused on improving operating efficiency, pursuing disciplined growth opportunities, and building a stronger foundation for long-term shareholder value.”

Third Quarter 2026 Financial Results

For the three months ended August 31, 2026, the Company reported revenue of $766,422, representing an increase of $132,557, or 20.9%, compared with $633,865 for the three months ended August 31, 2025. Activity-based revenue accounted for $545,879, or 71.2% of total revenue, during the three months ended August 31, 2026, compared with $477,705, or 75.4% of total revenue, for the same period in the prior year. Fixed revenue, including weekly service charges and branding-related revenue, increased from $155,644 for the three months ended August 31, 2025 to $216,230 for the three months ended August 31, 2026. This increase was primarily attributable to higher weekly service charge rates under the Company’s ISP agreement with FedEx, which was renewed on February 21, 2026. Other pickup and delivery revenue increased from $516 for the three months ended August 31, 2025 to $4,313 for the three months ended August 31, 2026, representing an increase of $3,797.

The Company also reported cost of revenue of $670,663 for the three months ended August 31, 2026, compared with $627,048 for the three months ended August 31, 2025, representing an increase of $43,615, or 7.0%. This increase was primarily due to increased maintenance and repair costs and higher cost of service related to the rental of additional vehicles to fulfill the Company’s delivery volume obligations.

For the three months ended August 31, 2026, the Company reported gross profit of $95,759, compared with $6,817 for the three months ended August 31, 2025, representing an improvement of $88,942. Gross margin improved to 12.5% for the three months ended August 31, 2026, compared with 1.1% in the prior-year period. The improvement was primarily attributable to higher revenue growth, which outpaced the increase in cost of revenue.

General and administrative expenses for the Company increased by $865,424, or 570.9%, to $1,017,024 for the three months ended August 31, 2026, from $151,600 for the three months ended August 31, 2025. The increase was mainly due to (i) $137,337 in higher professional fees, primarily related to audit services, financial reporting, and SEC and regulatory compliance associated with the Company’s transition to a public company; (ii) $586,252 in higher payroll expenses associated with personnel supporting corporate governance, internal controls, and administrative operations; (iii) a $120,108 increase in franchise tax expenses; and (iv) $21,727 in other expenses.

During the three months ended August 31, 2026, the Company's loans receivable portfolio generated interest income of $135,359. The portfolio includes loans to unrelated third-party borrowers, which were made to generate interest income on the net proceeds from the Company's initial public offering prior to their deployment for the purposes described in the Company's prospectus. Effective June 1, 2026, the maturity dates of the remaining outstanding loans from the Company's original loan portfolio were extended to November 30, 2026, with an annual interest rate of 5%. During the quarter, the Company also entered into additional loan agreements with unrelated third-party borrowers with an aggregate principal amount of $1.9 million, bearing interest at an annual rate of 5% and maturing in 12 months. The loans are secured by personal guarantees provided by the shareholders or chief executive officers