We recently announced our Q2 2016 operating performance report that significantly exceeded that of our public company peers.
Our Q2 2016 total shipment volumes grew 14% over the same period in 2015. Our performance was highlighted by an impressive increase in truckload shipments of 26% year over year. Revenue growth was also impressive —outpacing public company peers by 10% on the low-end and over 20% against poorer performing public peers. Our enterprise segment was particularly successful increasing over 90% versus the prior year.
During the quarter, we added 102 new agents its market-leading network of Freight Agents. Our existing Freight Agents (those with the company for 12 months or more) increased gross revenue by 14% and net revenue by 20%. Our agent network continues to represent full coverage across the United States by individual leaders in the freight industry.
With these encouraging operating results, we have taken advantage of the current low interest rate environment and has secured new financing in the form of an asset-backed loan. This financing will continue to support our future organic and strategic growth opportunities.
“The Q2 2016 numbers are inspiring in a number of ways,” says Renee Krug, CFO at GlobalTranz. “From encouraging future growth to solidifying our marketing and sales strategies, this builds on our great foundation as we finish 2016 and move into 2017.”
Earlier this year, we moved our corporate headquarters from Phoenix to our new Scottsdale campus and celebrated the milestone with an exciting grand opening party. Hundreds of team members and their families, customers, business partners, carrier partners, and our agents were in attendance. The new campus provides us with state-of-art facilities to further our technology leadership and scale its business.
This celebration also debuted our new Care ATC health clinic, which offers full-service primary care, on site lab work, on site generic prescriptions, tests, physicals, personal health assessments, and tobacco cessation. Our team members can seek treatment for allergies, colds, flu, diabetes management, high blood pressure, asthma, congestion, headaches, high cholesterol, and others.
Since 2012, we have also been incubating 10-4 Systems as a subsidiary while 10-4 pioneered technology to provide end-to-end shipment visibility, automated shipment and delivery updates, carrier driver, asset management and solutions to reduce the overall carbon footprint of the diesel-heavy transportation industry. During Q2 we announced the spin-off of 10-4 Systems, Inc. as an independent entity. The spin-off allows us to continue focusing on driving growth and value as a disruptive force in the freight movement space through market-leading technology and a hybrid agent/direct go-to market strategy.
“We are extremely pleased by the progress we accomplished during Q2,” stated Bob Farrell, CEO of GlobalTranz. “Both our Agent network and direct sales channels performed well, we continued to drive technology innovations, and we strived to continue making GlobalTranz an excellent place for our employees to work. We are well positioned for the remainder of 2016 and beyond,” added Farrell.
Other second-quarter achievements and milestones included:
- A green initiative brought excitement to the company as they partnered with Recycle 1 to reduce waste through recycling and energy conservation.
- Global Trade magazine named GlobalTranz as one of the leading 3PLs in America.
- Inbound Logistics Magazine named GlobalTranz as one of the 100 Top Third Party Logistics providers for 2016.
- The company welcomed a new group of college interns, and they completed the Intern Process Improvement Project.