ETS

LAGUNA HILLS, Calif., July 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 May 31, 2026. Second Quarter 2026 Financial Results For the three months ended May 31, 2026, the Company reported revenue of $726,829, representing an increase of $96,579, or 15.3%, compared with $630,250 for the three months ended May 31, 2025. Activity-based revenue accounted for $512,123, or 70.4% of total revenue, during the three months ended May 31, 2026, compared with $470,826, or 74.6% of total revenue, for the same period in the prior year. Fixed revenue, including weekly service charges and branding-related revenue, increased from $156,473 for the three months ended May 31, 2025 to $214,333 for the three months ended May 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 decreased from $2,951 for the three months ended May 31, 2025 to $373 for the three months ended May 31, 2026, representing a decrease of $2,578. The Company also reported cost of revenue of $645,792 for the three months ended May 31, 2026, compared with $612,248 for the three months ended May 31, 2025, representing an increase of $33,544, or 5.5% 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 May 31, 2026, the Company reported gross profit of $81,037, compared with $18,002 for the three months ended May 31, 2025, representing an improvement of $63,035. Gross margin improved to 11.1% for the three months ended May 31, 2026, compared with 2.9% 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 $564,310, or 398.1%, to $706,072 for the three months ended May 31, 2026, from $141,762 for the three months ended May 31, 2025. The increase was mainly due to (i) $115,312 in higher professional fees, primarily related to audit services, financial reporting, and SEC and regulatory compliance related to the Company’s transition to a public company; (ii) $196,697 in higher payroll expenses associated with personnel supporting corporate governance, internal controls, and administrative operations; (iii) a $200,000 increase in franchise tax expenses; and (iv) $52,301 in other expenses. During the three months ended May 31, 2026, the Company's loans receivable portfolio, which originated in fiscal 2025, generated interest income of $224,606. The loans were extended to unrelated third-party business partners 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. Each loan originally bore interest at an annual rate of 8% and matured in May 2026 following the agreed extension of the original terms. During the three months ended May 31, 2026, the Company received principal repayments totaling $300,000. Effective June 1, 2026, the remaining outstanding loans were extended for an additional six months and now bear interest at an annual rate of 5%, and will mature on November 30, 2026. As of the date of this release, the Company has received aggregate interest payments of $400,000. All loans remain secured by irrevocable personal unlimited joint and several liability guarantees provided by the shareholders or chief executive officers of the respective borrowers, and the Company has no related-party relationships with the borrowers. The Company reported a net loss of $2,532,942 for the three months ended May 31, 2026, compared with a net loss of $107,604 for the same period of 2025, representing an increase of $2,425,338, or 2,253.9%. The increase was primarily attributable to significant research and development expenses associated with the Company's long-term strategic initiatives, partially offset by higher revenue, improved gross profitability, and interest income earned on loans receivable. Yidan Chen, ETS’s CEO commented, “Our second quarter results demonstrate continued operational progress reflecting the continued effectiveness of our operational execution and efficiency initiatives. “During the quarter, we continued to optimize route management, fleet utilization, and labor productivity while making significant investments in research and development to support our long-term technology strategy. Although these investments had a significant impact on our GAAP net results for the quarter, we believe they will strengthen our competitive position and enhance our long-term growth prospects.” Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the federal securities laws. All statements other than statements of historical fact are forward-looking statements, including, but not limited to: projections of earnings, revenue, or other financial items; statements regarding the adequacy, availability, and sources of capital; statements of the plans, strategies, and objectives of management for future operations; statements concerning proposed new services or developments; statements regarding future economic conditions or performance; statements of belief; and statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words “may,” “will,” “estimate,” “intend,” “continue,” “believe,” “expect,” “plan,” “project,” “anticipate,” and other similar expressions. These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include, among others, the risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2025, as well as in the Company’s subsequent filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed. The Company’s future financial condition and results of operations are subject to change and to inherent risks and uncertainties. Except as required by law, the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release. The information included in this release should be read in conjunction with the Company’s unaudited condensed consolidated financial statements and related notes included in its Quarterly Report on Form 10-Q for the quarter ended May 31, 2026, which was filed with the Securities and Exchange Commission on July 14, 2026. For more information, please contact: Elite Express Holding Inc. Investor Relations(949) [email protected]

LAGUNA HILLS, Calif., April 13, 2026 (GLOBE NEWSWIRE) -- Elite Express Holding Inc. (“ETS” or the “Company”) (Nasdaq CM: ETS), a California-based provider of last-mile delivery services, today reported results for the quarter ended February 28, 2026. For the quarter ended February 28, 2026, the Company reported revenue of $805,298, representing a 16.3% increase compared with the same period in 2025. The Company reported a net loss of $110,104, representing a 46.3% improvement compared with the net loss of $204,999 for the same period in 2025. Yidan Chen, ETS’s CEO commented, “Our first quarter of fiscal 2026 reflects continued operational momentum following our transition to a public company. We achieved 16.3% year-over-year revenue growth while significantly reducing our net loss by 46.3%, demonstrating improved operating efficiency. “We benefited from stronger delivery volumes, optimized route management, fleet utilization, and labor efficiency. Supported by resilient e-commerce demand, we believe ETS is well positioned to strengthen financial performance and deliver long-term shareholder value. First Quarter 2026 Financial Results For the three months ended February 28, 2026, the Company reported revenue of $805,298, representing an increase of $113,155, or 16.3%, compared with $692,143 for the three months ended February 28, 2025. Activity-based revenue accounted for $621,336, or 77.1% of total revenue, during the three months ended February 28, 2026, compared with $538,851, or 77.9% of total revenue, for the same period in the prior year. Fixed revenue, including weekly service charges and branding-related revenue, increased from $152,794 for the three months ended February 28, 2025 to $159,607 for the three months ended February 28, 2026. This increase was primarily attributable to the increase in the weekly service charge standard under the Company's updated ISP agreement with FedEx, which was renewed on February 21, 2026. Other Pickup and Delivery revenue increased from $498 for the three months ended February 28, 2025 to $24,355 for the three months ended February 28, 2026, representing an increase of $23,857, or 4,789.2%. The increase was primarily attributable to higher activity-based service volumes during the quarter under the Company's ISP Agreement with FedEx. The Company also reported cost of revenue of $647,933 for the three months ended February 28, 2026, compared with $724,550 for the three months ended February 28, 2025, representing a decrease of $76,617, or 10.6%. The decrease was primarily driven by lower vehicle repair and maintenance costs and reduced depreciation expense as certain fleet assets reached the end of their depreciation schedules. For the three months ended February 28, 2026, the Company reported gross profit of $157,365, compared with a gross loss of $32,407 for the three months ended February 28, 2025, representing an improvement of $189,772. Gross margin improved to 19.4% for the three months ended February 28, 2026, compared with negative 4.7% in the prior-year period. The improvement was primarily attributable to lower vehicle repair and maintenance expenses and reduced depreciation expense reflecting a reduction in fleet size and vehicles that were written off during the applicable periods. The improvement was also driven by higher activity-based revenue volumes during the quarter. General and administrative expenses for the Company increased by $180,987, or 63.8%, to $464,606 for the three months ended February 28, 2026, from $283,619 for the three months ended February 28, 2025. The increase was mainly due to (i) $49,838 in higher professional fees, primarily related to audit services, financial reporting, and SEC and regulatory compliance related to our transition to a public company; (ii) $82,851 in higher payroll expenses associated with personnel supporting corporate governance, internal controls, and administrative operations; (iii) a $48,298 increase in other expenses; and (iv) higher insurance costs as a result of the Company's listing on Nasdaq. During the three months ended February 28, 2026, the Company’s loans receivable portfolio, which was originated during fiscal 2025, generated interest income of $199,830. The loans were extended to unrelated third-party business partners to earn 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. Each loan bears interest at an annual rate of 8% and is scheduled to mature in May 2026, reflecting the agreed extension of the original terms. During the three months ended February 28, 2026, the Company received principal repayments of $50,000. Subsequent to the quarter end, the Company collected an additional $100,000 on March 16, 2026. As of the date of this release, an aggregate of $150,000 of the outstanding balance has been received. All loans remain secured by irrevocable personal unlimited joint and several liability guarantees provided by the shareholders or chief executive officers of the respective borrowers, and the Company has no related-party relationships with the borrowers. The Company reported a net loss of $110,104 for the three months ended February 28, 2026, compared with a net loss of $204,999 for the same period of 2025, representing an improvement of $94,895, or 46.3%. The improvement was primarily attributable to revenue growth, improved gross profitability driven by lower vehicle repair and maintenance costs and reduced depreciation expense, and interest income earned on outstanding loans receivable, partially offset by higher general and administrative expenses associated with public company operations. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the federal securities laws. All statements other than statements of historical fact are forward-looking statements, including, but not limited to: projections of earnings, revenue, or other financial items; statements regarding the adequacy, availability, and sources of capital; statements of the plans, strategies, and objectives of management for future operations; statements concerning proposed new services or developments; statements regarding future economic conditions or performance; statements of belief; and statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words “may,” “will,” “estimate,” “intend,” “continue,” “believe,” “expect,” “plan,” “project,” “anticipate,” and other similar expressions. These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include, among others, the risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2025, as well as in the Company’s subsequent filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed. The Company’s future financial condition and results of operations are subject to change and to inherent risks and uncertainties. Except as required by law, the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release. The information included in this release should be read in conjunction with the Company’s unaudited condensed consolidated financial statements and related notes included in its Quarterly Report on Form 10-Q for the quarter ended February 28, 2026. For more information, please contact: Elite Express Holding Inc. Investor Relations (949) 758-0650 [email protected]

LAGUNA HILLS, Calif., Feb. 27, 2026 (GLOBE NEWSWIRE) -- Elite Express Holding Inc. (“ETS” or the “Company”) (Nasdaq CM: ETS), a California-based provider of last-mile delivery services, today reported results for the financial year ended November 30, 2025 and provided a corporate update. For the year ended November 30, 2025, the Company reported revenue of approximately $2.7 million, representing a 9.1% increase compared with the same period in 2024. The Company reported a net loss of approximately $2.2 million compared with a net loss of approximately $0.4 million in 2024. Yidan Chen, ETS’s CEO commented, “Fiscal year 2025 represents a transformational year for ETS, marked by our successful transition to a publicly listed company on August 20, 2025. For the full year, we generated revenue of $2.7 million and achieved remained modestly profitable, reflecting continued operational improvements and disciplined execution under the FedEx ISP structure. “While investments in compliance, governance, and public company infrastructure impacted our net results during the year, we view these expenditures as foundational to supporting long-term scalability and capital markets readiness. As we enter fiscal 2026, we remain focused on expanding fleet capacity, enhancing operational efficiency through technology, and strategically diversifying revenue streams beyond FedEx to broaden our growth platform. With sustained growth in e-commerce demand, we believe ETS is well positioned to pursue disciplined expansion and create long-term shareholder value.” 2025 Financial Results For the fiscal year ended November 30, 2025, the Company reported revenue of approximately $2.7 million, representing an increase of approximately $0.2 million, or 9.1%, compared with approximately $2.5 million for the fiscal year ended November 30, 2024. Activity-based revenue accounted for approximately $2.0 million, or 75.7% of total revenue, during the fiscal year ended November 30, 2025, compared with approximately $1.7 million, or 70.2% of total revenue, for the same period in the prior year. This increase primarily reflected our continued emphasis on operational throughput under the FedEx ISP structure. In contrast, fixed revenue, including weekly service charges and branding-related revenue, declined from approximately $0.7 million to $0.6 million, a decrease of approximately $0.1 million, or 7.8%, primarily due to a reduction in baseline weekly compensation. The Company also reported cost of revenue of approximately $2.6 million for the fiscal year ended November 30, 2025, compared with $2.4 million, for the fiscal year ended November 30, 2024. The slight increase is due primarily to higher labor costs, maintenance and repair fees, partially offset by lower fuel prices. For the fiscal year ended November 30, 2025, we recorded our gross profit of $18,211, compared with a gross profit of $15,897, for the fiscal year ended November 30, 2024. The slight increase was primarily was primarily driven by the increase in activity-based operations. General and administrative expenses for the Company increased by approximately $1.2 million, or 286.1%, to $1.6 million for the fiscal year ended November 30, 2025, from approximately $0.4 million for the fiscal year ended November 30, 2024. The increase was mainly due to (i) approximately $0.9 million in legal and accounting fees, primarily related to audit services, financial reporting, and SEC and regulatory compliance related to our transition to a public company; (ii) approximately $0.4 million in payroll expenses associated with personnel supporting corporate governance, internal controls, and administrative operations that were not incurred in the comparable Predecessor period, partially offset by (iii) a $0.1 million decrease in other expenses. Research and development expenses for the fiscal year ended November 30, 2025 totaled $0.9 million, compared with $0 in the prior year. The Company did not engage in research and development activities during fiscal 2024. These expenses reflect the Company's strategic investment in B2B delivery aggregation platform to support long-term operational efficiency and competitive positioning. During fiscal 2025, the Company originated loans receivable totaling $10.0 million, which generated interest income of $191,475 for the year. The loans were extended to unrelated third-party business partners to provide short-term funding support for new venture testing, while enabling the Company to optimize returns on temporarily unallocated IPO proceeds prior to deployment into operating investments. Each loan bears interest at an annual rate of 8% and had an initial four-month term with original maturity dates in January 2026, extendable for an additional four months upon mutual written agreement, resulting in extended maturity dates of May 2026 for the relevant loans. All loans are secured by irrevocable personal unlimited joint and several liability guarantees provided by the shareholders or chief executive officers of the respective borrowers as credit enhancement. The Company has no related-party relationships with the borrowers. The Company reported a net loss of $2.2 million for the fiscal year ended November 30, 2025, compared with a net loss of $0.4 million for the same period of 2024. The increased net loss was primarily attributable to higher general and administrative expenses related to public company compliance ($1.2 million increase) and new research and development investments ($0.9 million), partially offset by interest income of $0.2 million. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the federal securities laws. All statements other than statements of historical fact are forward-looking statements, including, but not limited to: projections of earnings, revenue, or other financial items; statements regarding the adequacy, availability, and sources of capital; statements of the plans, strategies, and objectives of management for future operations; statements concerning proposed new products, services, or developments; statements regarding future economic conditions or performance; statements of belief; and statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words “may,” “will,” “estimate,” “intend,” “continue,” “believe,” “expect,” “plan,” “project,” “anticipate,” and other similar expressions. These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include, among others, the risks and uncertainties described in the “Risk Factors” section of this Annual Report on Form 10-K and in our other filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed. Our future financial condition and results of operations are subject to change and to inherent risks and uncertainties. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of this report. The information included in this Management’s Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with our audited consolidated financial statements and the related notes included in this Annual Report on Form 10-K. For more information, please contact: Elite Express Holding Inc. Investor Relations (949) 758-0650 [email protected]

LAGUNA HILLS, Calif., Oct. 14, 2025 (GLOBE NEWSWIRE) -- Elite Express Holding Inc. (“ETS” or the “Company”) (Nasdaq CM: ETS), a California-based provider of last-mile delivery services, today reported results for the quarter ended August 31, 2025. For the quarter ended August 31, 2025, the Company reported revenue of $633,865 from its business, representing a 7.4% increase compared with the same period in 2024. The Company reported a net loss of $185,881, representing a 142.9% decrease compared with the net loss of $76,526 for the same period in 2024. Yidan Chen, ETS’s CEO commented, “Our third quarter marks our first earnings release since becoming a publicly listed company in August 2025. We delivered a 7.4% year-over-year revenue growth and achieved our first quarterly gross profit, reflecting the strength of our operations and our disciplined focus on operational efficiency. “Although we incurred higher compliance and governance expenses, these investments are essential to building a strong foundation as a newly public company. Looking ahead, we are focused on expanding our fleet, leveraging technology to scale operations, and diversifying beyond our sole customer, FedEx, to capture new growth opportunities. With e-commerce demand continuing to rise, we believe ETS is well positioned to deliver sustainable long-term value for our shareholders.” Third Quarter 2025 Financial Results For the three months ended August 31, 2025, the Company reported revenue of $633,865, representing an increase of $43,490, or 7.4%, compared with $590,375 for the three months ended August 31, 2024. Activity-based revenue accounted for $477,705, or 75.4% of total revenue, during the three months ended August 31, 2025, compared with $414,445, or 70.2% of total revenue, for the same period in the prior year. This increase primarily reflected our continued emphasis on operational throughput under the FedEx ISP structure. In contrast, fixed revenue, including weekly service charges and branding-related revenue, declined from $175,797 to $155,644, a decrease of $20,153, or 11.5%, primarily due to a reduction in baseline weekly compensation. The Company also reported cost of revenue of $627,048 for the three months ended August 31, 2025, compared with $620,164, for the three months ended August 31, 2024. The slight increase is primarily due to higher labor costs, partially offset by lower fuel prices and maintenance and repair fees. For the three months ended August 31, 2025, we recorded our first gross profit of $6,817, compared with a gross loss of $29,789, for the three months ended August 31, 2024. The increase of $36,606 was primarily driven by increased revenue. General and administrative expenses for the Company increased by $112,320, or 285.9%, to $151,600 for the three months ended August 31, 2025, from $39,280 for the three months ended August 31, 2024. The increase was mainly due to (i) $53,449 in legal and accounting fees, primarily related to audit services, financial reporting, and regulatory compliance related to our status as a public company; (ii) $76,853 in payroll expenses associated with personnel supporting corporate governance, internal controls, and administrative operations that were not incurred in the comparable period in the previous year. The Company reported a net loss of $185,881 for the three months ended August 31, 2025, compared with a net loss of $76,526 for the same period of 2024. Nine Months 2025 Financial Results For the nine months ended August 31, 2025, the Company reported revenue of $1,956,258, representing an increase of $141,943, or 7.8%, compared with $1,814,315 for the nine months ended August 31, 2024. The increases were primarily attributable to higher volume-based activity revenue, particularly from e-commerce deliveries, which offset the decline in fixed weekly service fees. For the nine months ended August 31, 2025, the total cost of revenues increased to $1,963,846 from $1,828,794 for the same period in 2024, representing an increase of $135,052, or 7.4%, primarily due to higher labor and service costs. General and administrative expenses for the Company increased by $468,682, or 432.8%, to $576,981 for the nine months ended August 31, 2025 from $108,299 for the nine months ended August 31, 2024, primarily due to (i) $314,655 in legal and accounting fees, primarily related to audit services, financial reporting, and regulatory compliance related to the JAR acquisition; (ii) $228,542 in payroll expenses associated with personnel supporting corporate governance, internal controls, and administrative operations that were not incurred in the comparable period in the previous year. Other categories, such as systems support and general office expenses, remained stable relative to the current operational scope. The Company had a net loss of $498,484 for the nine months ended August 31, 2025, compared with a net loss of $144,521 for the same period of 2024. Forward-Looking Statements This press release contains “forward-looking statements.” All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to: any projections of earnings, revenue, or other financial items; any statements regarding the adequacy, availability, and sources of capital, any statements of the plans, strategies, and objectives of management for future operations; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words “may,” “will,” “estimate,” “intend,” “continue,” “believe,” “expect,” “plan,” “project,” or “anticipate,” and other similar words. In addition to any assumptions and other factors and matters referred to specifically in connection with such forward-looking statements, factors that could cause actual results or outcomes to differ materially from those contained in the forward-looking statements include those factors set forth in the “Risk Factors” section included in our registration statement on Form S-1 (File No. 333-286965), as amended, which was initially filed with the SEC on May 5, 2025 and declared effective by the SEC on August 20, 2025. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, such as those disclosed in our quarterly report. We do not intend, and undertake no obligation, to update any forward-looking statement, except as required by law. The information included in this press release should be read in conjunction with our unaudited condensed consolidated financial statements and the notes included in our quarterly report on Form 10-Q. For more information, please contact: Elite Express Holding Inc. Investor Relations (949) 758-0650 [email protected]