May 2026 Financial Review
Nolt Paving LLC
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P Prosynergy Bookkeeping

May 2026 Insights for Nolt Paving

Prepared by Titus Kuepfer  ·  Prosynergy Bookkeeping

Accrual Basis  ·  Confidential

Titus walks you through the May highlights — revenue record, margin collapse, and what to watch in June.

Revenue — May
$537,992
↑ +$137K  vs April (+34.2%)
Net Income — May
-$37,191
↓ from +$77,587 in April
Cash in Bank
$810,256
↑ +$10,363 from start of month
Gross Margin
8.9%
↓ from 34.4% in April

"May was Nolt Paving's busiest month yet — but 91% COGS turned $538K in revenue into a $37K loss."

1. Best Revenue Month — Margins Collapsed

Revenue hit $537K — a new high. But materials cost $470K alone (88% of revenue), dropping gross margin from 34% in April to 9% in May and producing a $37K loss.

Review job pricing vs. current asphalt costs going into June

2. $690K in A/R — $122K Is 90+ Days Old

Travis Freed ($175K) and Jeremy Weaver ($174K) are fresh billings that should pay soon. Jerry Martin ($60K) has been in the 90+ bucket since April — that one needs a call.

Follow up with Jerry Martin this week

3. $472K in Supplier Bills Due in June

Pennsy Supply ($207K) and New Enterprise Stone & Lime ($206K) — both current. Cash at $810K covers it. Collect from Freed and Weaver first to stay above $700K after the payoff.

Chase Freed + Weaver by June 15
Feb 2026 Mar 2026 Apr 2026 May 2026 4-Mo Avg
Revenue $23,440 $138,360 $399,725 $537,992 $274,879
COGS $10,338 $121,271 $262,107 $488,867 $220,646
Gross Profit $13,102 $17,089 $137,618 $49,125 $54,234
Gross Margin % 55.9% 12.4% 34.4% 9.1% 19.6%
Total OpEx $45,051 $88,015 $61,332 $86,315 $70,178
Net Income -$31,867 -$70,406 $77,587 -$37,191 -$15,469
Net Margin % -136% -50.9% +19.4% -6.9% -5.6%

Feb was pre-season — minimal paving activity. 4-month avg includes Feb ramp-up period.

MAY 2026

LineBudgetActualVariance
Revenue$600,000$537,992-$62,008
COGS %76%91%+15pp
Gross Profit$141,100$49,125-$91,975
Op Expenses$64,800$86,315-$21,515
Net Income$76,300-$37,190-$113,490

YEAR TO DATE (Jan–May)

LineTargetActualVariance
Revenue$1,235,000$1,201,419-$33,581
Gross Profit$290,431$246,813-$43,618
Op Expenses$133,845$316,711-$182,866
Net Income$156,586-$69,898-$226,484

⚠ YTD revenue is 97% of budget. YTD OpEx is 237% of budget — operating costs are the gap.

What This Means
Revenue hit a 4-month high at $538K — the season is building strong.
Materials alone cost $470K (88¢ of every revenue dollar) — leaving just 9% gross margin and a $37K net loss.
A/R grew $200K — customers now owe $690K total. Fresh billings from Freed and Weaver represent $348K of that.
A/P jumped $236K — $472K in supplier bills (Pennsy + New Enterprise) are due in June.
Cash barely moved (+$10K) — the A/P buildup offset the net loss. Strong footing heading into June.
Profit Quality Score
Cash+ / Net Loss Month
Op. cash flow was +$10,363 despite -$37,191 net income — positive only because A/P grew $236K. Cash reflects timing, not earnings quality.
Quick Ratio
2.58x
Cash + A/R covers all current liabilities 2.6× over.
Healthy
Gross Margin
8.9%
Materials spiked to 88% of revenue. Rolling 4-month average is 19.6%.
Concern
DSO
38.6 days
Within range, but $122K is 90+ days old and needs active follow-up.
Watch
DPO
29.0 days
Paying vendors in ~29 days — on good terms with Pennsy and New Enterprise.
Healthy

Before Next Month

The Event

$472K in A/P is due in June. Pennsy Supply ($207K) and New Enterprise Stone & Lime ($206K) account for 88% of it — both current.

Estimated Impact

~$472K cash outflow. Current cash $810K — coverage is solid.

One Action Item

Chase Travis Freed ($175K) and Jeremy Weaver ($174K) for payment before the A/P goes out. Collecting both keeps cash above $700K after the full payoff.

Deadline: June 15

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This report was prepared by Prosynergy Bookkeeping for management use only. All figures are derived from QBO exports on an accrual basis as of May 31, 2026. This is not a tax return, audit, or certified financial statement. Consult your CPA for tax or compliance matters.