CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Sep. 30, 2025
Current Assets:
Cash and cash equivalents	$ 8,785	$ 10,962
Restricted cash	0	1,078
Accounts receivable, net of allowance for credit losses of $1,187 and $367, respectively	55,300	66,489
Inventory, net	3,902	4,207
Prepaid expenses and other current assets	6,410	6,095
Total current assets	74,397	88,831
Property and Equipment, net	5,795	5,971
Other Assets:
Intangible assets, net	29,340	30,998
Goodwill	31,592	31,592
Deferred tax assets, net	5,372	0
Restricted investments	250	250
Investment in marketable securities at fair value	263	4,664
Operating lease right of use asset	6,582	7,760
Security deposits and other long-term assets	597	687
Total other assets	73,996	75,951
Total assets	154,188	170,753
Current Liabilities:
Lines of credit	17,845	3,801
Accounts payable - trade	73,589	98,244
Duties and taxes payable	4,457	4,323
Accrued expenses and other current liabilities	5,918	5,853
Dividends payable	1,024	1,649
Current portion of contingent earnout	39	2,592
Current portion of long-term debt	683	911
Current portion of subordinated promissory notes-related party	$ 1,174	$ 1,174
Notes Payable Current Related Party Type Extensible [Enumeration]	Related Party [Member]	Related Party [Member]
Current portion of operating lease liabilities	$ 2,054	$ 2,114
Total current liabilities	106,783	120,661
Other Liabilities:
Long-term portion of long-term debt	7,162	7,166
Long-term portion of contingent earnout	55	55
Long-term portion of subordinated promissory notes-related party	$ 1,276	$ 1,766
Notes Payable Noncurrent Related Party Type Extensible [Enumeration]	Related Party [Member]	Related Party [Member]
Mandatorily redeemable non-controlling interest	$ 2,706	$ 4,161
Deferred tax liabilities, net	0	4,547
Long-term portion of operating lease liabilities	5,173	6,310
Other liabilities	280	285
Total other liabilities	16,652	24,290
Total liabilities	123,435	144,951
Stockholders' Equity:
Preferred stock	0	0
Common stock, $0.001 par value; 4,500,000 shares authorized, 1,206,354 issued and 1,186,354 outstanding as of both March 31, 2026 and September 30, 2025	1	1
Paid-in capital	15,965	17,730
Common treasury stock, at cost, 20,000 shares as of both March 31, 2026 and September 30, 2025	(240)	(240)
Accumulated earnings	9,447	8,311
Total Janel Corporation stockholders’ equity	25,173	25,802
Noncontrolling interests	5,580	0
Total stockholders’ equity	30,753	25,802
Total liabilities and stockholders’ equity	154,188	170,753
Series C [Member]
Current Liabilities:
Dividends payable	1,024	1,649
Stockholders' Equity:
Preferred stock	$ 0	$ 0

JANEL CORP 10-Q