Quest Resource Holding Corporation Reports Second Quarter 2025 Financial Results
Quest Resource Holding Corporation (NASDAQ:QRHC) reported Q2 2025 financial results showing mixed performance with signs of operational improvement despite revenue challenges. Revenue decreased 18.6% year-over-year to $59.5 million, while gross profit declined 18.4% to $11.0 million. The company posted a net loss of $2.0 million, or $(0.09) per share.
Notable achievements include generating $3.9 million in operating cash flow and reducing debt by $6.6 million year-to-date. The company secured new client wins in the restaurant sector and expanded geographically with an existing retail client. Management's Operational Excellence Initiatives are showing positive results, focusing on cash generation, profitability, and process improvement despite continued softness in the industrial end market.
Quest Resource Holding Corporation (NASDAQ:QRHC) ha riportato i risultati del 2掳 trimestre 2025, mostrando performance contrastanti ma segnali di miglioramento operativo nonostante le difficolt脿 sui ricavi. I ricavi sono scesi del 18,6% su base annua a $59,5 milioni, mentre l'utile lordo 猫 diminuito del 18,4% a $11,0 milioni. La societ脿 ha registrato una perdita netta di $2,0 milioni, ovvero $(0,09) per azione.
Tra i risultati degni di nota, la societ脿 ha generato $3,9 milioni di flusso di cassa operativo e ha ridotto il debito di $6,6 milioni da inizio anno. Ha acquisito nuovi clienti nel settore della ristorazione e ampliato la presenza geografica con un cliente retail esistente. Le iniziative di Operational Excellence della direzione stanno producendo effetti positivi, con focus sulla generazione di cassa, la redditivit脿 e il miglioramento dei processi, nonostante la persistenza della debolezza nel mercato industriale.
Quest Resource Holding Corporation (NASDAQ:QRHC) present贸 los resultados del 2T 2025, con un desempe帽o mixto pero se帽ales de mejora operativa a pesar de los retos en los ingresos. Los ingresos disminuyeron un 18,6% interanual hasta $59,5 millones, y el beneficio bruto cay贸 un 18,4% hasta $11,0 millones. La compa帽铆a registr贸 una p茅rdida neta de $2,0 millones, o $(0,09) por acci贸n.
Entre los logros destacables, gener贸 $3,9 millones de flujo de caja operativo y redujo la deuda en $6,6 millones en lo que va del a帽o. Consigui贸 nuevos clientes en el sector de restauraci贸n y ampli贸 su presencia geogr谩fica con un cliente minorista existente. Las iniciativas de Operational Excellence de la direcci贸n muestran resultados positivos, centradas en la generaci贸n de efectivo, la rentabilidad y la mejora de procesos, pese a la debilidad continua del mercado industrial.
Quest Resource Holding Corporation (NASDAQ:QRHC)電� 2025雲� 2攵勱赴 鞁れ爜鞚� 氚滍憸頄堨溂氅�, 毵れ稖 鞎曤皶 靻嶌棎靹滊弰 鞖挫榿 臧滌劆鞚� 歆曧泟毳� 氤挫澊電� 順柬暕霅� 靹标臣毳� 雮橅儉雰堨姷雼堧嫟. 毵れ稖鞚� 鞝勲厔 雽�牍� 18.6% 臧愳唽頃� $59.5氚彪鞚� 旮半頄堦碃, 毵れ稖齑濎澊鞚奠潃 18.4% 欷勳柎 $11.0氚彪鞚挫棃鞀惦媹雼�. 須岇偓電� $2.0氚彪鞚� 靾滌啇鞁�鞚� 旮半頄堨溂氅� 欤茧嫻 靾滌啇鞁れ潃 $(0.09)鞓�鞀惦媹雼�.
欤检殧 靹标臣搿滊姅 鞓侅梾頇滊彊鞙茧 $3.9氚彪鞚� 順勱笀頋愲鞚� 彀届稖頃橁碃 鞐办磮 鞚错泟 攵�毂勲ゼ $6.6氚彪 欷勳榾雼る姅 鞝愳澊 鞛堨姷雼堧嫟. 鞕胳嫕鞐� 攵�氍胳棎靹� 鞁犼窚 瓿犼皾鞚� 頇曤炒頄堦碃 旮办〈 靻岆Г 瓿犼皾瓿检潣 歆�毽爜 頇曥灔鞚� 歆勴枆頄堨姷雼堧嫟. 瓴届榿歆勳潣 Operational Excellence 鞚措媹靺旐嫲敫岆姅 順勱笀 彀届稖, 靾橃澋靹�, 頂勲靹胳姢 臧滌劆鞐� 欷戩爯鞚� 霊愲┌ 旮嶌爼鞝� 瓴瓣臣毳� 氤挫澊瓿� 鞛堨溂雮� 靷办梾 斓滌 鞁滌灔鞚� 鞎届劯電� 瓿勳啀霅橁碃 鞛堨姷雼堧嫟.
Quest Resource Holding Corporation (NASDAQ:QRHC) a publi茅 ses r茅sultats du 2e trimestre 2025, montrant des performances mitig茅es mais des signes d'am茅lioration op茅rationnelle malgr茅 des difficult茅s sur les revenus. Les revenus ont diminu茅 de 18,6% en glissement annuel 脿 $59,5 millions, tandis que le b茅n茅fice brut a chut茅 de 18,4% 脿 $11,0 millions. La soci茅t茅 a enregistr茅 une perte nette de $2,0 millions, soit $(0,09) par action.
Parmi les faits marquants, elle a g茅n茅r茅 $3,9 millions de flux de tr茅sorerie d'exploitation et r茅duit sa dette de $6,6 millions depuis le d茅but de l'ann茅e. Elle a remport茅 de nouveaux clients dans la restauration et 茅tendu sa pr茅sence g茅ographique avec un client retail existant. Les initiatives d'Operational Excellence de la direction donnent des r茅sultats positifs, ax茅es sur la g茅n茅ration de tr茅sorerie, la rentabilit茅 et l'am茅lioration des processus, malgr茅 la faiblesse persistante du march茅 industriel.
Quest Resource Holding Corporation (NASDAQ:QRHC) meldete Ergebnisse f眉r das 2. Quartal 2025 mit einer uneinheitlichen Entwicklung, aber Anzeichen betrieblicher Verbesserung trotz Umsatzschwierigkeiten. Der Umsatz ging um 18,6% gegen眉ber dem Vorjahr auf $59,5 Mio. zur眉ck, der Bruttogewinn sank um 18,4% auf $11,0 Mio. Das Unternehmen verzeichnete einen Nettogewinnverlust von $2,0 Mio., bzw. $(0,09) je Aktie.
Zu den bemerkenswerten Punkten z盲hlen die Erzielung von $3,9 Mio. operativem Cashflow und eine Reduzierung der Verschuldung um $6,6 Mio. seit Jahresbeginn. Das Unternehmen gewann neue Kunden im Gastronomiesektor und weitete die geografische Pr盲senz bei einem bestehenden Einzelhandelskunden aus. Die Operational-Excellence-Initiativen des Managements zeigen positive Effekte mit Fokus auf Cash-Generierung, Profitabilit盲t und Prozessverbesserung, trotz anhaltender Schw盲che im Industrieendmarkt.
- Generated $3.9 million in operating cash flow in Q2 2025
- Reduced debt by $6.6 million year-to-date
- Gross margin improved 250 basis points sequentially to 18.5%
- Sequential improvement in gross profits and adjusted EBITDA
- Secured new client wins in restaurant sector and retail expansion
- Revenue declined 18.6% year-over-year to $59.5 million
- Net loss widened to $2.0 million from $1.5 million in Q2 2024
- Adjusted EBITDA decreased to $2.7 million from $5.1 million year-over-year
- Recognized $4.5 million non-cash loss on sale of RWS assets
- Continued softness in industrial end market affecting performance
Insights
Quest shows operational improvement despite revenue decline, with sequential gross profit growth and significant debt reduction.
Quest Resource's Q2 2025 results reveal a company in transition, working to overcome multiple operational challenges from the previous year. While revenue declined
The most encouraging sign is cash flow generation of
The revenue decline stems from three factors: industrial sector slowdown, client attrition, and the strategic divestiture of an underperforming business segment (the tenant-direct mall portion of RWS sold in Q1). However, management has implemented specific operational excellence initiatives focused on cash generation and profitability that are showing early positive results.
Despite posting a net loss of
The company has secured important new business wins - adding a restaurant client and expanding geographic coverage with an existing retail client - which could help offset some of the revenue challenges. However, management noted that macroeconomic uncertainties are causing potential clients to delay decisions, slowing their growth initiatives.
Overall, while Quest faces continued challenges in the industrial segment and shows year-over-year declines in most metrics, the sequential improvements in gross profit, reduced SG&A costs, and strong cash generation suggest the company's operational turnaround is progressing, though not yet complete.
Generated
Posted sequential improvements in gross profits and adjusted EBITDA
Roll out of Operational Excellence Initiatives is on track and continuing with a focus on cash generation, profitability, and process improvement
THE COLONY, Texas, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Quest Resource Holding Corporation () (鈥淨uest鈥� or the 鈥淐ompany鈥�), a national leader in environmental waste and recycling services, today announced financial results for the second quarter ended June 30, 2025.
Second Quarter 2025 Highlights
- Revenue was
$59.5 million , an18.6% decrease compared with the second quarter of 2024, and a13.0% decrease sequentially from the first quarter of 2025. - Gross profit was
$11.0 million , an18.4% decrease compared with the second quarter of 2024, and a1.0% increase sequentially from the first quarter of 2025. - Gross margin was
18.5% of revenue compared with18.5% for the second quarter of 2024, and a 250 basis point improvement sequentially from the first quarter of 2025. - GAAP net loss was
$(2.0) million , compared with GAAP net loss of$(1.5) million during the second quarter of 2024, and a net loss of$(10.4) million during the first quarter of 2025. - GAAP net loss per basic and diluted share attributable to common stockholders was
$(0.09) , compared with$(0.07) for the second quarter of 2024, and$(0.50) for the first quarter of 2025. - Adjusted EBITDA was
$2.7 million , compared with$5.1 million during the second quarter of 2024, and$1.6 million during the first quarter of 2025. - Adjusted net loss per diluted share was
$(0.04) , compared with adjusted net income of$0.03 per diluted share during the second quarter of 2024, and$(0.14) per share during the first quarter of 2025.
Year-to-Date 2025 Highlights (June鈥�30, 2025)鈥�
- Revenue was
$128.0鈥痬颈濒濒颈辞苍 , a鈥�12.2% decrease compared with the same period of 2024.鈥� - Gross profit was
$22.0鈥痬颈濒濒颈辞苍 , a鈥�20.3% decrease compared with the same period of 2024.鈥� - Gross margin was
17.2% of revenue compared with18.9% during the same period of 2024. - GAAP net loss was
$(12.4) million , compared with GAAP net loss of$(2.2) million during the same period of 2024. - GAAP net loss per basic and diluted share attributable to common stockholders was
$(0.59) , compared with$(0.11) 鈥痙uring the鈥痵ame period of鈥�2024.鈥� - Recognized a non-cash loss on sale of assets of
$4.5 million , or$(0.21) per basic and diluted share, related to the sale of the tenant-direct mall portion of RWS during the first quarter of 2025. Recognized a non-cash loss of$1.7 million , or$(0.08) per basic and diluted share, related to an impairment charge on intangible assets during the first quarter of 2025. - Year-to-date Adjusted EBITDA was
$4.2 million , a58.7% decrease compared to$10.3 million during the same period of 2024.听听 - Adjusted net loss per diluted share was
$(0.18) , compared with adjusted net income of$0.10 per diluted share during the same period of 2024.听听
Recent Highlights
- Improved cash cycle times, generating
$3.9 million of operating cash flow during the second quarter of 2025. - Reduced debt by
$6.6 million year-to-date. - Secured significant competitive wins; a new client in the restaurant end market and a geographic expansion with an existing client in the retail end market.
鈥淲e experienced a host of issues last year. These include a number of operational issues, an industrial sector slowdown, and client attrition; as well as challenges related to adding a record number of new clients and systems integration. We took decisive, well-documented actions to address these issues. These include reductions and additions to the management team, making cost reductions, selling an underperforming business line, and resetting financial covenants with our lenders. Since then, we have launched an intensive set of initiatives focused on driving short-term improvements and long-term operating and financial performance.
Our efforts to fundamentally improve our operations and produce more consistent financial results are on track. Sequential revenue comparisons reflect the sale of the non-core portion of our RWS business at the end of the first quarter and continued softness with clients in the industrial end market. Sequential growth in gross profit dollars, a decrease in SG&A costs and strong operating cash flow generation were all a direct result of the performance-focused actions we took earlier this year. Despite continued softness in the industrial end market, we are on track to continue to deliver improvements in the trajectory of the business,鈥� said Dan M. Friedberg, Chairman of the Company鈥檚 Board of Directors.
Perry W. Moss, Quest鈥檚 Chief Executive Officer, said, 鈥淚 believe a culture of performance and accountability is critical to the success of an organization. We are fundamentally changing Quest鈥檚 culture, and we are already seeing positive results. Our team is embracing this data and KPI driven philosophy. Our Operational Excellence Initiatives are beginning to improve cash generation, improve efficiency, and reduce operational variability. In addition, we are strengthening vendor relationships and increasing employee satisfaction while maintaining high standards for client service; all of which will drive long-term shareholder value.
While we have been implementing operational improvements, we have also been actively pursuing growth initiatives. Macro uncertainties are causing prospective clients to delay decision making, which is slowing the pace of growth. Nevertheless, we are still winning new clients and adding new client opportunities to our pipeline. In addition, we are focused on expanding our share of wallet with existing clients. During the second quarter, our sales organization generated a significant win with a new client in the restaurant industry and a significant expansion of the geographic footprint with an existing retailer client. Both were competitive wins and reflective of our value proposition.鈥�
Second Quarter 2025 Earnings Conference Call and Webcast
Quest will host a conference call on Monday, August 11, 2025, at 5:00 PM ET, to review the financial results for the second quarter ended June 30, 2025. To participate, dial 1-800-717-1738 or 1-646-307-1865. Investors can also access the call online through a listen-only webcast on the investor relations section of Quest鈥檚 website at . The webcast, which may include forward-looking information, will be archived on the Quest investor relations website for at least 90 days.
About Quest Resource Holding Corporation
Quest is a national provider of waste and recycling services that enables larger businesses to excel in achieving their environmental and sustainability goals and responsibilities. Quest delivers focused expertise across multiple industry sectors to build single-source, client-specific solutions that generate quantifiable business and sustainability results. Addressing a wide variety of waste streams and recyclables, Quest provides information and data that tracks and reports the environmental results of Quest鈥檚 services, gives actionable data to improve business operations, and enables Quest鈥檚 clients to excel in their business and sustainability responsibilities. For more information, visit .
Reconciliation of U.S. GAAP to Non-GAAP Financial Measures
In this press release, non-GAAP financial measures, 鈥淎djusted EBITDA鈥� and 鈥淎djusted Net Income (Loss)鈥� are presented. From time-to-time, Quest considers and uses these supplemental measures of operating performance in order to provide an improved understanding of underlying performance trends. Quest believes it is useful to review, as applicable, both (1) GAAP measures that include (i) depreciation and amortization, (ii) interest expense, (iii) stock-based compensation expense, (iv) income tax expense, and (v) certain other adjustments, and (2) non-GAAP measures that exclude such items. Quest presents these non-GAAP measures because it considers them an important supplemental measure of Quest鈥檚 performance. Quest鈥檚 definition of these adjusted financial measures may differ from similarly named measures used by others. Quest believes these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. These non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for the Company鈥檚 GAAP measures. (See attached tables 鈥淩econciliation of Net Loss to Adjusted EBITDA鈥� and 鈥淎djusted Net Income (Loss) Per Share鈥�).
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which provides a 鈥渟afe harbor鈥� for such statements in certain circumstances. The forward-looking statements include, but are not limited to, our belief that our efforts to fundamentally improve our operations and produce more consistent financial results are on track, our belief that sequential growth in gross profit dollars, a decrease in SG&A costs and strong operating cash flow generation were all a direct result of the performance-focused actions we took earlier this year and our expectation that we are on track to continue to deliver improvements in the trajectory of the business. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors, including, but not limited to, competition in the environmental services industry, the impact of the current economic environment, interruptions to supply chains, commodity price fluctuations, and extended shut down of businesses, and other factors discussed in greater detail in our filings with the Securities and Exchange Commission (鈥淪EC鈥�), including our Annual Report on Form 10-K for the year ended December 31, 2024. You are cautioned not to place undue reliance on such statements and to consult our SEC filings for additional risks and uncertainties that may apply to our business and the ownership of our securities. Our forward-looking statements are presented as of the date made, and we disclaim any duty to update such statements unless required by law to do so.
Investor Relations Contact:
Three Part Advisors, LLC
Joe Noyons
817.778.8424
Financial Tables Follow
| Quest Resource Holding Corporation and Subsidiaries STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share amounts) | |||||||||||||||||||||||||||||
| 听 | |||||||||||||||||||||||||||||
| 听 | 听 | Three Months Ended | 听 | Six Months Ended听听听听听 | 听 | ||||||||||||||||||||||||
| 听 | 听 | June 30, | 听 | 听 | June 30, | 听 | |||||||||||||||||||||||
| 听 | 听 | 2025 | 听 | 听 | 听2024 | 听 | 听 | 听2025 | 听 | 听 | 2024 | 听 | |||||||||||||||||
| Revenue | 听 | $ | 59,540 | 听 | 听 | $ | 73,145 | 听 | 听 | $ | 127,970 | 听 | 听 | $ | 145,796 | 听 | |||||||||||||
| Cost of revenue | 听 | 听 | 48,503 | 听 | 听 | 听 | 59,613 | 听 | 听 | 听 | 106,002 | 听 | 听 | 听 | 118,228 | 听 | |||||||||||||
| Gross profit | 听 | 听 | 11,037 | 听 | 听 | 听 | 13,532 | 听 | 听 | 听 | 21,968 | 听 | 听 | 听 | 27,568 | 听 | |||||||||||||
| Selling, general, and administrative | 听 | 听 | 9,295 | 听 | 听 | 听 | 9,385 | 听 | 听 | 听 | 20,707 | 听 | 听 | 听 | 19,184 | 听 | |||||||||||||
| Depreciation and amortization | 听 | 听 | 1,299 | 听 | 听 | 听 | 2,365 | 听 | 听 | 听 | 2,842 | 听 | 听 | 听 | 4,726 | 听 | |||||||||||||
| Loss on sale of assets | 听 | 听 | 61 | 听 | 听 | 听 | 听听听听听听 鈥� | 听 | 听 | 听 | 4,491 | 听 | 听 | 听 | 听听听听听听 鈥� | 听 | |||||||||||||
| Impairment loss | 听 | 听 | 听听听听听听 鈥� | 听 | 听 | 听 | 听听听听听听 鈥� | 听 | 听 | 听 | 1,707 | 听 | 听 | 听 | 听听听听听听 鈥� | 听 | |||||||||||||
| Total operating expenses | 听 | 听 | 10,655 | 听 | 听 | 听 | 11,750 | 听 | 听 | 听 | 29,747 | 听 | 听 | 听 | 23,910 | 听 | |||||||||||||
| Operating income (loss) | 听 | 听 | 382 | 听 | 听 | 听 | 1,782 | 听 | 听 | 听 | (7,779 | ) | 听 | 听 | 3,658 | 听 | |||||||||||||
| Interest expense | 听 | 听 | (2,375 | ) | 听 | 听 | (2,612 | ) | 听 | 听 | (4,642 | ) | 听 | 听 | (5,084 | ) | |||||||||||||
| Loss before taxes | 听 | 听 | (1,993 | ) | 听 | 听 | (830 | ) | 听 | 听 | (12,421 | ) | 听 | 听 | (1,426 | ) | |||||||||||||
| Income tax expense (benefit) | 听 | 听 | (22 | ) | 听 | 听 | 684 | 听 | 听 | 听 | (44 | ) | 听 | 听 | 743 | 听 | |||||||||||||
| Net loss | 听 | $ | (1,971 | ) | 听 | $ | (1,514 | ) | 听 | $ | (12,377 | ) | 听 | $ | (2,169 | ) | |||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||||||
| Net loss per share applicable to common stockholders: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||||||||||
| Basic and diluted | 听 | $ | (0.09 | ) | 听 | $ | (0.07 | ) | 听 | $ | (0.59 | ) | 听 | $ | (0.11 | ) | |||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||||||
| Weighted average number of common shares outstanding: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||||||
| Basic and diluted | 听 | 听 | 20,933 | 听 | 听 | 听 | 20,507 | 听 | 听 | 听 | 20,896 | 听 | 听 | 听 | 20,446 | 听 | |||||||||||||
| RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (Unaudited) (In thousands) | |||||||||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||||||||
| 听 | 听 | Three Months Ended | 听 | Six Months Ended听 | 听 | ||||||||||||||||
| 听 | 听 | June 30, | 听 | June 30, | 听 | ||||||||||||||||
| 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 | 听 | 2025 | 听 | 听 | 2024听 | 听 | ||||||||
| Net loss | 听 | $ | (1,971 | ) | 听 | $ | (1,514 | ) | 听 | $ | (12,377 | ) | 听 | $ | (2,169 | ) | |||||
| Depreciation and amortization | 听 | 听 | 1,500 | 听 | 听 | 听 | 2,605 | 听 | 听 | 听 | 3,246 | 听 | 听 | 听 | 5,101 | 听 | |||||
| Interest expense | 听 | 听 | 2,375 | 听 | 听 | 听 | 2,612 | 听 | 听 | 听 | 4,642 | 听 | 听 | 听 | 5,084 | 听 | |||||
| Stock-based compensation expense | 听 | 听 | 533 | 听 | 听 | 听 | 363 | 听 | 听 | 听 | 1,195 | 听 | 听 | 听 | 720 | 听 | |||||
| Acquisition, integration, and related costs | 听 | 听 | 听听听听听听 鈥� | 听 | 听 | 听 | 19 | 听 | 听 | 听 | 听听听听听听 鈥� | 听 | 听 | 听 | 61 | 听 | |||||
| Loss on sale of assets | 听 | 听 | 61 | 听 | 听 | 听 | 听听听听听听 鈥� | 听 | 听 | 听 | 4,491 | 听 | 听 | 听 | 听听听听听听 鈥� | 听 | |||||
| Impairment loss | 听 | 听 | 听听听听听听 鈥� | 听 | 听 | 听 | 听听听听听听 鈥� | 听 | 听 | 听 | 1,707 | 听 | 听 | 听 | 听听听听听听 鈥� | 听 | |||||
| Other adjustments | 听 | 听 | 208 | 听 | 听 | 听 | 370 | 听 | 听 | 听 | 1,379 | 听 | 听 | 听 | 719 | 听 | |||||
| Income tax expense (benefit) | 听 | 听 | (22 | ) | 听 | 听 | 684 | 听 | 听 | 听 | (44 | ) | 听 | 听 | 743 | 听 | |||||
| Adjusted EBITDA | 听 | $ | 2,684 | 听 | 听 | $ | 5,139 | 听 | 听 | $ | 4,239 | 听 | 听 | $ | 10,259 | 听 | |||||
| ADJUSTED NET INCOME (LOSS) PER SHARE (Unaudited) (In thousands, except per share amounts) | ||||||||||||||||||||
| 听听听听听听听听听听听听听听听听听 | ||||||||||||||||||||
| 听 | 听 | Three Months Ended | Six Months Ended | 听 | ||||||||||||||||
| 听 | 听 | June 30, | 听 | 听 | June 30, | 听 | ||||||||||||||
| 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | 听 | 2025 | 听 | 听 | 2024 | 听 | ||||||||
| Reported net loss (1) | 听 | $ | (1,971 | ) | 听 | $ | (1,514 | ) | 听 | $ | (12,377 | ) | 听 | $ | (2,169 | ) | ||||
| Amortization of intangibles (2) | 听 | 听 | 1,104 | 听 | 听 | 听 | 2,221 | 听 | 听 | 听 | 2,468 | 听 | 听 | 听 | 4,441 | 听 | ||||
| Acquisition, integration, and related costs (3) | 听 | 听 | 鈥� | 听 | 听 | 听 | 19 | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 61 | 听 | ||||
| Loss on sale of assets | 听 | 听 | 61 | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 4,491 | 听 | 听 | 听 | 鈥� | 听 | ||||
| Impairment loss | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 1,707 | 听 | 听 | 听 | 鈥� | 听 | ||||
| Adjusted net income (loss) | 听 | $ | (806 | ) | 听 | $ | 726 | 听 | 听 | $ | (3,711 | ) | 听 | $ | 2,333 | 听 | ||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Diluted earnings (loss) per share: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Reported net loss | 听 | $ | (0.09 | ) | 听 | $ | (0.07 | ) | 听 | $ | (0.59 | ) | 听 | $ | (0.11 | ) | ||||
| Adjusted net income (loss) | 听 | $ | (0.04 | ) | 听 | $ | 0.03 | 听 | 听 | $ | (0.18 | ) | 听 | $ | 0.10 | 听 | ||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Weighted average number of common shares outstanding: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Basic | 听 | 听 | 20,933 | 听 | 听 | 听 | 20,507 | 听 | 听 | 听 | 20,896 | 听 | 听 | 听 | 20,446 | 听 | ||||
| Diluted (4) | 听 | 听 | 20,933 | 听 | 听 | 听 | 22,974 | 听 | 听 | 听 | 20,896 | 听 | 听 | 听 | 22,777 | 听 | ||||
听听听听听听听听(1) Applicable to common stockholders
听听听听听听听听(2) Reflects the elimination of non-cash amortization of acquisition-related intangible assets
听听听听听听听听(3) Reflects the add back of acquisition/integration related transaction costs
听听听听听听听听(4) Reflects adjustment for dilution when adjusted net income is positive
听
BALANCE SHEETS
(In thousands, except per share amounts)
| 听 | 听 | June 30, | 听 | 听 | December 31, | ||||
| 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 | ||
| 听 | 听 | 听 | (Unaudited) | 听 | 听 | 听 | 听 | ||
| ASSETS | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Current assets: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Cash and cash equivalents | 听 | $ | 449 | 听 | 听 | 听 | $ | 396 | 听 |
| Accounts receivable, less allowance for doubtful accounts of and | 听 | 听 | 53,660 | 听 | 听 | 听 | 听 | 62,252 | 听 |
| Prepaid expenses and other current assets | 听 | 听 | 2,618 | 听 | 听 | 听 | 听 | 2,601 | 听 |
| Assets held for sale | 听 | 听 | 鈥� | 听 | 听 | 听 | 听 | 9,890 | 听 |
| Total current assets | 听 | 听 | 56,727 | 听 | 听 | 听 | 听 | 75,139 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Goodwill | 听 | 听 | 81,065 | 听 | 听 | 听 | 听 | 81,065 | 听 |
| Intangible assets, net | 听 | 听 | 9,316 | 听 | 听 | 听 | 听 | 12,946 | 听 |
| Property and equipment, net, and other assets | 听 | 听 | 5,954 | 听 | 听 | 听 | 听 | 6,495 | 听 |
| Total assets | 听 | $ | 153,062 | 听 | 听 | 听 | $ | 175,645 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| LIABILITIES AND STOCKHOLDERS鈥� EQUITY | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Current liabilities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Accounts payable and accrued liabilities | 听 | $ | 38,130 | 听 | 听 | 听 | $ | 39,899 | 听 |
| Deferred revenue | 听 | 听 | 146 | 听 | 听 | 听 | 听 | 1,001 | 听 |
| Current portion of notes payable | 听 | 听 | 1,540 | 听 | 听 | 听 | 听 | 1,651 | 听 |
| Liabilities held for sale | 听 | 听 | 鈥� | 听 | 听 | 听 | 听 | 1,840 | 听 |
| Total current liabilities | 听 | 听 | 39,816 | 听 | 听 | 听 | 听 | 44,391 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Notes payable, net | 听 | 听 | 69,680 | 听 | 听 | 听 | 听 | 76,265 | 听 |
| Other long-term liabilities | 听 | 听 | 628 | 听 | 听 | 听 | 听 | 833 | 听 |
| Total liabilities | 听 | 听 | 110,124 | 听 | 听 | 听 | 听 | 121,489 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Commitments and contingencies | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Stockholders鈥� equity: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Preferred stock, shares issued or outstanding as of June 30, 2025 and December 31, 2024 | 听 | 听 | 鈥� | 听 | 听 | 听 | 听 | 鈥� | 听 |
| Common stock, 20,712 and 20,606 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively | 听 | 听 | 21 | 听 | 听 | 听 | 听 | 21 | 听 |
| Additional paid-in capital | 听 | 听 | 180,405 | 听 | 听 | 听 | 听 | 179,246 | 听 |
| Accumulated deficit | 听 | 听 | (137,488 | ) | 听 | 听 | 听 | (125,111 | ) |
| Total stockholders鈥� equity | 听 | 听 | 42,938 | 听 | 听 | 听 | 听 | 54,156 | 听 |
| Total liabilities and stockholders鈥� equity | 听 | $ | 153,062 | 听 | 听 | 听 | $ | 175,645 | 听 |
FAQ
What were Quest Resource Holding Corporation's (QRHC) key financial results for Q2 2025?
How much debt did QRHC reduce in 2025 and what was their cash flow?
What were QRHC's Adjusted EBITDA results for Q2 2025?
What new business developments did QRHC announce for Q2 2025?
What operational initiatives is QRHC implementing to improve performance?
