Radiant Logistics, Inc. (RLGT): Business Model Canvas [Dec-2025 Updated]

You're looking to understand the engine behind Radiant Logistics, Inc. (RLGT)'s performance, and honestly, it's a classic asset-light, tech-driven play built for the choppy freight markets. This model, which saw them hit $902.7 million in revenue and $226.1 million in gross profit for fiscal year 2025, relies heavily on strategic acquisitions and converting partners onto their proprietary Navegate platform. They manage a massive network without owning the trucks or ships-a smart way to keep purchased transportation costs manageable against that revenue. Their core strength is flexibility, plain and simple. Dive into the full Business Model Canvas below to see exactly how they structure partnerships, manage costs against that $676.6 million in freight spend, and deploy their $23 million cash position for growth.

Radiant Logistics, Inc. (RLGT) - Canvas Business Model: Key Partnerships

You're looking at the engine room of Radiant Logistics, Inc.'s growth strategy, which relies heavily on integrating external expertise and capacity into its non-asset-based model. This isn't just about moving freight; it's about strategically buying market share and technology. The partnership structure is fundamentally about disciplined, bolt-on growth.

Global network of third-party freight carriers (air, ocean, ground)

Radiant Logistics, Inc. supports its diversified account base-manufacturers, distributors, and retailers-by leveraging an extensive network of agent-owned and company-owned offices throughout North America and other key global markets. This network, which was mentioned to be over 100 operating locations back when the Navegate platform was integrated, is the backbone for accessing third-party carriers across all modes of transport. This asset-light structure allows Radiant to remain nimble, which is key when navigating near-term volatility tied to U.S. trade and tariff negotiations, as noted by CEO Bohn Crain in September 2025.

Strategic operating partners (SOPs) converted to company-owned offices

The conversion of Strategic Operating Partners (SOPs) is a core part of scaling the network efficiently. For the fiscal year ended June 30, 2025, Radiant Logistics, Inc. completed 3 strategic operating partner conversions in key U.S. cities. These conversions, along with greenfield acquisitions, were major contributors to the $6.0 million in Adjusted EBITDA generated by acquisitions for that fiscal year. These partners bring specialized expertise and local capacity directly into the Radiant fold. For example, the April 2025 conversion of Philadelphia-based USA Logistics Services, Inc. and USA Carrier Services, LLC solidified the Mid-Atlantic freight forwarding and cartage operations.

Here's a look at the recent integration activity that feeds into the overall partnership strategy:

Technology and software providers for the Navegate platform

While the Navegate platform is now a wholly owned subsidiary, its acquisition represents a foundational technology partnership that underpins the entire model. Radiant Logistics, Inc. acquired Navegate, Inc. in December 2021 for $35.0 million. This platform provides global trade management capabilities, offering customers purchase order and vendor management tools that unlock SKU-level visibility. This technology is now integrated across the broader Radiant network, helping to differentiate its service offering.

Recent acquisition of 80% of Weport, S.A. de C.V. in Mexico

On September 2, 2025, Radiant Logistics, Inc. announced the acquisition of an 80% ownership interest in Weport, S.A. de C.V., a Mexico-based logistics provider. This move immediately enhances geographic reach and service offerings in Mexico, positioning Weport to serve as a platform for further North American scaling. Weport offers a full range of services, including:

• International ocean and airfreight forwarding services.
• Multi-modal domestic services within Mexico.
• Customs brokerage.
• Warehousing and other value-added services.

The deal structure mirrors past transactions: a portion of the purchase price is payable based on future performance, and Radiant holds the right to purchase the remaining 20% stake later. For context, as of June 30, 2025, Radiant Logistics, Inc. reported total revenues of $902.7 million and had approximately $22.9 million in cash on hand against a $200.0 million credit facility with only $20.0 million drawn.

Greenfield acquisition targets for North American footprint expansion

Radiant Logistics, Inc. continues to pursue profitable growth through organic initiatives and acquisitions, having completed 3 greenfield acquisitions in fiscal 2025. These targets complement the existing network and are critical to scaling the North American footprint. For instance, the March 2025 acquisition of Los Angeles-based Transcon Shipping Co., Inc. was strategic, adding capabilities in ocean freight forwarding from key gateway locations. Based on historic figures provided by Transcon management, that acquisition brought in approximately $75.0 million in revenues and $4.0 million in normalized EBITDA for the calendar year ended December 31, 2024. The overall acquisition efforts drove the fiscal 2025 Adjusted EBITDA up 24.4% year-over-year to $38.8 million.

Finance: draft 13-week cash view by Friday.

Radiant Logistics, Inc. (RLGT) - Canvas Business Model: Key Activities

You're looking at how Radiant Logistics, Inc. actually makes its money and runs the show as of late 2025. It's a mix of buying other companies, running a vast network without owning the trucks, and pushing proprietary tech. Here's the breakdown of what they spend their time doing.

Executing strategic acquisitions and partner conversions (six in FY2025)

Radiant Logistics, Inc. actively pursues growth through M&A and converting agent stations into company-owned operations. For the fiscal year ended June 30, 2025, the company completed a total of six key integration activities. This activity is a core driver, contributing to the overall financial performance, such as the $38.8 million in Adjusted EBITDA reported for that full fiscal year.

The specific activities completed in fiscal year 2025 include:

• 3 greenfield acquisitions.
• 3 strategic operating partner conversions.

To give you a concrete example, during the second fiscal quarter ended December 31, 2024, the company completed three strategic acquisitions: Foundation Logistics & Services, Focus Logistics, and TCB Transportation. More recently, effective September 1, 2025, Radiant Logistics acquired an 80% ownership interest in Weport, S.A. de C.V., a Mexico-based logistics company, to enhance its North American footprint.

Managing and optimizing a global, non-asset-based transportation network

The core of the business involves managing a network of independent carriers and agents globally, which keeps the asset base light. This operational structure supports significant revenue generation. For the fiscal year ended June 30, 2025, Radiant Logistics, Inc. reported total Revenues of $902.7 million. The most recent reported quarter, the first fiscal quarter ended September 30, 2025, saw Revenues of $226.7 million.

Here's a look at the scale of operations based on the latest reported financials:

The company maintains a strong balance sheet to support operations and growth, reporting approximately $23 million of cash on hand as of June 30, 2025, with only $20 million drawn on its $200 million credit facility.

Deploying the proprietary Navegate technology platform to customers

Radiant Logistics, Inc. deploys its proprietary global trade management platform, Navegate, to customers. Management commentary indicates this platform is a key focus area for driving future organic growth. The platform is intended to enhance supply-chain visibility and decision-making for customers.

The company aims to invest in the deployment of Navegate technology to drive future growth.

Providing customs brokerage and value-added logistics solutions

The service offering explicitly includes customs brokerage, order fulfillment, inventory management, and warehousing, alongside domestic and international freight forwarding and brokerage services. While specific revenue segmentation for these value-added services isn't broken out in the summary financials, these activities are integral to the total reported revenue base. The acquisition of Navegate in a prior period, for example, brought in offerings that included customs brokerage and freight forwarding.

Value-added logistics activities are part of the overall service mix that contributed to the fiscal year 2025 Adjusted Net Income of $30.9 million.

Centralized administrative support for decentralized operations

Radiant Logistics operates through a network of company and agent-owned offices throughout North America and other key markets. This structure necessitates centralized administrative support to manage the decentralized execution. The consolidated financial reporting, such as the $17.3 million Net Income attributable to Radiant Logistics, Inc. for the fiscal year ended June 30, 2025, reflects this centralized oversight of decentralized operations.

The company's focus on strategic partner conversions and acquisitions, like the Weport acquisition, requires this centralized administrative function to integrate operations and maintain financial discipline across the growing network.

Radiant Logistics, Inc. (RLGT) - Canvas Business Model: Key Resources

You're looking at the core assets that power Radiant Logistics, Inc.'s ability to deliver on its promises. These aren't just line items on a balance sheet; they're the engines driving service execution and growth.

The technology backbone is definitely a key differentiator. Radiant Logistics uses its proprietary technology platform, Navegate, to give customers supply-chain visibility. This platform, acquired in December 2021 for $35.0 million, is a global trade management (GTM) software designed to manage freight from purchase order to final delivery. It's recognized for its advanced purchase order and vendor management tools, which help unlock SKU-level visibility for clients moving goods from Asia through to the U.S. delivery point.

The physical and partnership footprint is also critical. Radiant Logistics operates through an extensive network of both Radiant-owned and agent-owned offices. Following recent strategic moves, this network includes over 100+ operating locations, bolstered by fiscal 2025 acquisitions like the purchase of Mexico-based Weport to scale the North American footprint.

Here's a quick look at the financial strength that allows for continued investment and strategic maneuvering:

To be fair, the balance sheet strength is further evidenced by the low leverage reported later in the year; net debt was only approximately $2 million relative to the $200 million credit facility as of September 30, 2025. This dry powder supports their strategy of profitable growth through acquisitions and share repurchases.

Finally, the human capital is a resource you can't easily replicate. The company relies on its experienced entrepreneurial operating partners and management team. Key leadership includes Founder and CEO Bohn Crain and CFO Todd Macomber, who guide the strategy of disciplined capital allocation and operational execution.

You can see the key components of this resource base:

• Proprietary technology platform, Navegate, for supply-chain visibility.
• Extensive network of Radiant and agent-owned offices globally, exceeding 100+ locations.
• Strong balance sheet with approximately $23 million cash (June 30, 2025).
• Low debt utilization: only $20 million drawn on $200 million credit facility (June 30, 2025).
• Experienced entrepreneurial operating partners and management team, including CEO Bohn Crain.

Finance: draft 13-week cash view by Friday.

Radiant Logistics, Inc. (RLGT) - Canvas Business Model: Value Propositions

You're looking at how Radiant Logistics, Inc. (RLGT) delivers value in late 2025, and honestly, it boils down to being the single point of contact for complex shipping needs. They position themselves as a technology-enabled global transportation and value-added logistics services company.

Comprehensive, one-stop-shop logistics services for all modes (3PL)

Radiant Logistics, Inc. offers a broad spectrum of services, meaning you don't have to juggle multiple vendors for different parts of your supply chain. They provide domestic and international freight forwarding, truck and rail brokerage services, and value-added support like customs brokerage, order fulfillment, inventory management, and warehousing. This comprehensive approach is reflected in their scale; for the twelve months ended June 30, 2025, the company reported revenues of $902.7 million, generating a gross profit of $38.8 million in adjusted EBITDA for that same period.

For the first fiscal quarter ending September 30, 2025, revenues hit $226.7 million, with a gross profit of $57.1 million. This shows the breadth of their operation across different transportation types.

Flexibility and scalability via the non-asset-based business model

The company operates with an asset-light business model, which is key to its flexibility. This means Radiant Logistics, Inc. relies on a network of independent carriers and agents rather than owning massive fleets or warehouses outright. This structure lets them scale up or down quickly to meet fluctuating demand without the heavy capital burden of asset ownership. You see this scalability in their growth trajectory; for the twelve months ended June 30, 2025, adjusted net income grew by approximately 36.6% year-over-year to $30.944 million. Plus, they actively use strategic acquisitions to bolt on capabilities, like the recent purchase of an 80% stake in Weport, a Mexico-based logistics firm, effective September 1, 2025, to immediately expand their footprint.

The model supports agility. For instance, in the third fiscal quarter ended March 31, 2025, adjusted EBITDA jumped over 80% year-over-year to $9.4 million, showing operational leverage improvements. That's the non-asset structure helping translate revenue growth into profit gains.

Technology-enabled supply chain visibility and decision-making tools

Radiant Logistics, Inc. emphasizes its proprietary technology as a core differentiator. They offer supply chain visibility and decision-making tools to customers. The company specifically highlights its proprietary Navegate technology platform as a driver for future growth. Furthermore, they mention using a proprietary global trade management platform, or GTM, to help customers navigate complex supply chain challenges. This focus on tech is critical in 2025, where nearly 46% of 3PLs are using AI tools for real-time decision-making, like route optimization.

The commitment to technology is evident in past investments, including a significant upgrade to their SAP TM platform, which supports their agent network.

Global reach with strong North American and international capabilities

While primarily focused on the United States and Canada, Radiant Logistics, Inc. maintains a global reach through its network of agents and recent acquisitions. Their logistics network comprises more than 100 locations across the US, Canada, and worldwide. The recent acquisition of an 80% stake in Weport, a Mexico-based firm, directly bolsters their North American network and U.S.-Mexico cross-border capabilities. This is supported by their Service By Air network, which has also expanded to include U.S.-Mexico cross-border freight forwarding services.

You can see the international component in their Q1 FY2025 revenue of $226.7 million, which is built on both domestic and international freight forwarding.

Nimble response to trade and tariff volatility for customer support

Navigating trade uncertainty, including tariffs, is a stated focus. The company has been positioning itself to help customers manage these shifts. For example, updates in early 2025 noted trade tensions escalating, with China striking back with new tariffs. Despite this, Radiant Logistics, Inc. reported a revenue increase of 11.3% in Q1 FY2025, reaching $226.7 million, suggesting they are successfully supporting clients through the turbulence. The company aims to remain nimble, anticipating a surge in global trade once disputes resolve.

It's important to note that even with revenue growth, Q1 FY2025 net income was $1.3 million, down from $3.4 million the prior year, partly due to a one-time bad debt expense, but the underlying operational goal is clearly to maintain service continuity despite external shocks.

Finance: draft 13-week cash view by Friday.

Radiant Logistics, Inc. (RLGT) - Canvas Business Model: Customer Relationships

You're managing complex, multi-modal supply chains where one misstep can halt production lines, so Radiant Logistics, Inc. focuses on a dedicated, consultative service model for these intricate needs.

The relationship structure is built around high-touch engagement, especially with strategic account focus. This is evidenced by the company's growth strategy, which heavily incorporates integrating new partners. For the fiscal year ended June 30, 2025, Radiant Logistics generated total revenues of $902.7 million, showing a 12.5% increase over the prior year period, which supports the scale of these managed relationships.

The customer base is intentionally broad, spanning industries like aviation and automotive, electronics and high tech, furniture and home furnishings, hospitality and gaming, humanitarian/NGO, and industrial farming. This diversification helps insulate the relationship model from downturns in any single sector.

The commitment to partnership is visible in the acquisition activity, which directly impacts customer service continuity and expansion:

• Completed 3 greenfield acquisitions in fiscal year 2025.
• Completed 3 strategic operating partner conversions in fiscal year 2025.
• Acquired an 80% ownership interest in Weport, S.A. de C.V., a Mexico-based logistics company, effective September 1, 2025, to bolster the North American footprint.

This focus on integrated support for acquired partners during conversion process ensures that the service continuity for existing customers of the acquired entities remains a priority. For instance, the company's adjusted EBITDA for the fiscal year ended June 30, 2025, reached $38.8 million, up 24.4% year-over-year, driven principally by these acquisition efforts.

A key element supporting these relationships is the technology interface (Navegate) for self-service and data access. This proprietary global trade management platform is positioned to drive organic growth by enhancing supply-chain visibility and decision-making for customers. While the platform generated $88 million in revenue and $5.9 million in normalized EBITDA for the 12 months ended September 30, 2021, the current focus is on deploying this technology across the entire network to provide tools that unlock SKU-level visibility.

Here's a look at the financial scale supporting these customer relationships as of late 2025:

The company maintains a strong balance sheet to support these long-term commitments, with only $20 million drawn on its $200 million credit facility as of June 30, 2025, suggesting ample capacity to invest in customer-facing resources. The relationship with manufacturers, distributors, and retailers is cemented by this operational stability and technological enablement. Finance: draft 13-week cash view by Friday.

Radiant Logistics, Inc. (RLGT) - Canvas Business Model: Channels

The Channels component for Radiant Logistics, Inc. centers on a multi-pronged approach combining physical presence, direct engagement, and proprietary technology to reach its diversified customer base.

Network of company-owned and agent-owned offices across North America

Radiant Logistics supports its service delivery through an extensive network spanning North America and other key global markets. This network is composed of both company-owned locations and strategic operating partner locations, often referred to as agent-owned offices.

• The logistics network comprises more than 100 locations in the US, Canada, and worldwide.
• The company supports its diversified account base from this extensive network of company and agent-owned offices throughout North America.

Direct sales force targeting diversified account base

Direct engagement is maintained through a dedicated sales organization targeting specific customer types. The company supports a diversified account base that includes manufacturers, distributors, and retailers.

Proprietary digital platform (Navegate) for customer interaction

Customer interaction and operational efficiency are heavily supported by the proprietary technology platform, Navegate. Management expects this platform to be a key driver for organic growth by enhancing supply-chain visibility and decision-making.

• Navegate is a global trade management platform.
• The platform was acquired in December 2021.
• At the time of its acquisition, Navegate generated $88 million in revenue for the 12 months ended September 30, 2021.

International network for global freight forwarding services

Radiant Logistics provides international freight forwarding services, supported by its global reach. The company's service offering includes domestic and international air and ocean freight forwarding, alongside truck and rail brokerage services.

Strategic acquisitions to immediately expand geographic reach (e.g., Mexico)

Expansion of geographic reach, particularly into Mexico, is achieved through strategic acquisitions. This approach allows for immediate integration of capabilities in key markets.

• Effective September 1, 2025, Radiant Logistics acquired an 80% ownership interest in Weport, S.A. de C.V., a Mexico-based provider.
• Weport offers services including international ocean and airfreight forwarding and customs brokerage throughout Mexico.
• Radiant Logistics completed 3 green-field acquisitions and 3 strategic operating partner conversions in fiscal 2025.

Radiant Logistics, Inc. (RLGT) - Canvas Business Model: Customer Segments

Radiant Logistics, Inc. serves a diversified account base that includes manufacturers, distributors and retailers.

The primary geographic focus for Radiant Logistics, Inc. is on companies located in the United States and Canada. This North American focus was strategically enhanced by the acquisition of an 80% ownership interest in Weport, S.A. de C.V., a Mexico-based logistics company, effective September 1, 2025.

The customer base requires a broad range of services, indicating a segment that needs more than simple point-to-point transport. This includes customers requiring complex, multi-modal domestic and international freight solutions, such as air, ocean, truckload, and intermodal freight forwarding.

Businesses within this segment are actively seeking customs brokerage and value-added logistics services to manage their supply chains.

Radiant Logistics, Inc. targets mid-market to large enterprises needing a global 3PL (third-party logistics) solution, leveraging its non-asset-based, technology-enabled model.

The scale of the customer base is reflected in the company's financial performance for the fiscal year ended June 30, 2025, where total revenues reached $902.7 million. For the first fiscal quarter ended September 30, 2025, revenues were $226.7 million.

The diversity of industries served by Radiant Logistics, Inc. is extensive, supporting the need for varied logistics expertise. Here's a look at some of the sectors served:

• Aviation and automotive
• Electronics and high tech
• Furniture and home furnishings
• Hospitality and gaming
• Humanitarian/NGO
• Industrial farming

This diversification helps the company navigate market cycles.

The customer base relies on Radiant Logistics, Inc.'s extensive network of company and agent-owned offices throughout North America and other key markets around the world. The company maintains a strong balance sheet to support these customers, with approximately $19.0 million of cash on hand as of March 31, 2025, and a net debt of approximately $2.0 million relative to its $200.0 million credit facility as of September 30, 2025.

The composition of the customer base, by type and geography, can be summarized as follows:

Radiant Logistics, Inc. (RLGT) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Radiant Logistics, Inc.'s operations as of late 2025. This cost structure is heavily weighted toward the actual movement of goods, which makes sense for a logistics provider.

The largest single component is the cost paid to third parties to move freight. This is the direct cost of service delivery, which you see reflected in the Cost of Revenue line item.

The personnel costs represent the expense tied to the people running the extensive office network across North America and internationally. This is a fixed-to-semi-variable cost that scales with the network's physical footprint and headcount.

For technology, the investment in the Navegate platform is a significant historical capital outlay, though ongoing maintenance costs aren't broken out separately in the latest reports. You should know that Radiant Logistics acquired Navegate, Inc. for $35.0 million back in December 2021. Management has signaled continued investment in the deployment of Navegate technology to drive future growth, suggesting this is an ongoing operational expense category, even if the exact 2025 maintenance spend isn't public.

General and administrative expenses (G&A) are harder to pin down for the full fiscal year 2025 in the snippets available. However, we can look at recent quarterly data for context on operating overhead:

• Personnel Costs (Q1 FY2026, ended Sept 30, 2025): $21,571 thousand for the quarter.
• Cost of Transportation (Q1 FY2026, ended Sept 30, 2025): $167,202 thousand for the quarter.
• Selling, general and administrative expenses (Q3 FY2025, ended March 31, 2025): The line item exists, but the value for the quarter is not explicitly visible in the provided table snippet.

Capital allocation is clearly focused on growth through integration and returning capital to shareholders. For synergistic acquisitions in FY2025, Radiant completed 3 greenfield acquisitions and 3 strategic operating partner conversions. The company also renewed its commitment to capital returns in November 2025, authorizing a repurchase of up to 5,000,000 shares of common stock through December 31, 2027.

To be fair, the actual G&A for the full year, which would include acquisition integration costs not capitalized, is buried in the full 10-K filing.

Radiant Logistics, Inc. (RLGT) - Canvas Business Model: Revenue Streams

You're looking at how Radiant Logistics, Inc. (RLGT) brings in the cash, and honestly, it's all about moving stuff for other businesses, both here and overseas. The core of their revenue streams comes from charging fees for transportation management and logistics execution across various modes.

The primary ways Radiant Logistics, Inc. generates revenue align with their service offerings as a technology-enabled global transportation and value-added logistics services company. These streams are built around managing the movement of goods for their clients.

• Domestic and international freight forwarding services
• Truck and rail brokerage services (intermodal, truckload, LTL)
• Value-added logistics solutions and customs brokerage fees

Here's a quick look at the top-line performance for the most recently completed fiscal year and a recent quarter to give you a sense of the scale of these revenue streams. The fiscal year ended June 30, 2025, showed solid top-line growth.

For the full fiscal year ended June 30, 2025, total revenue for Radiant Logistics, Inc. reached $902.7 million. That same year, the gross profit, which is revenue minus the direct cost of services, was $226.1 million. To be fair, the first quarter of the next fiscal year, ending September 30, 2025, brought in $226.7 million in revenue, showing continued activity in these core areas. Finance: draft 13-week cash view by Friday.