$QRHC

Quest Resource Holding Corp

CIK:0001442236|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 64,069	$ 59,540	$ 125,804	$ 127,970
Cost of revenue	53,639	48,503	105,709	106,002
Gross profit	10,430	11,037	20,095	21,968
Operating expenses:
Selling, general, and administrative	8,246	9,295	16,635	20,707
Depreciation and amortization	1,059	1,299	2,104	2,842
Loss on sale of assets, net	88	61	77	4,491
Impairment loss	11,000		11,000	1,707
Total operating expenses	20,393	10,655	29,816	29,747
Operating (loss) income	(9,963)	382	(9,721)	(7,779)
Interest expense	(2,208)	(2,375)	(4,258)	(4,642)
Loss on extinguishment of debt			(488)
Loss before taxes	(12,171)	(1,993)	(14,467)	(12,421)
Income tax expense (benefit)	46	(22)	68	(44)
Net loss	$ (12,217)	$ (1,971)	$ (14,535)	$ (12,377)
Net loss per share applicable to common shareholders
Basic	$ (0.57)	$ (0.09)	$ (0.68)	$ (0.59)
Diluted	$ (0.57)	$ (0.09)	$ (0.68)	$ (0.59)
Weighted average number of common shares outstanding
Basic	21,334	20,933	21,266	20,896
Diluted	21,334	20,933	21,266	20,896

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (12,217)	$ (14,535)	$ (12,377)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	177	358	477
Amortization of intangibles	1,000	2,068	2,769
Amortization of debt issuance costs and discounts		442	408
Provision for doubtful accounts	52	120	428
Stock-based compensation		745	1,195
Loss on sale of assets, net	88	77	4,491
Impairment loss	11,000	11,000	1,707
Loss on extinguishment of debt		488
Changes in operating assets and liabilities:
Accounts receivable		(717)	8,510
Prepaid expenses and other current assets		(537)	(270)
Security deposits and other assets		(7)
Accounts payable and accrued liabilities		5,249	(3,638)
Deferred revenue and other liabilities		(100)	(855)
Net cash provided by operating activities		4,651	2,845
Cash flows from investing activities:
Purchase of property and equipment		(83)	(177)
Purchase of intangible assets		(711)	(593)
Proceeds from sale of assets		129	5,004
Net cash (used in) provided by investing activities		(665)	4,234
Cash flows from financing activities:
Proceeds from credit facilities		37,549	54,274
Repayments of credit facilities		(37,037)	(57,028)
Proceeds from long-term debt			390
Repayments of long-term debt		(4,270)	(4,235)
Proceeds from shares issued for Employee Stock Purchase Plan		55	78
Tax payments for net share settlements		(51)
Debt issuance costs		(223)	(505)
Net cash used in financing activities		(3,977)	(7,026)
Net increase in cash and cash equivalents		9	53
Cash and cash equivalents at beginning of period		1,014	396
Cash and cash equivalents at end of period	$ 1,023	1,023	449
Supplemental cash flow information:
Cash paid for interest		3,516	3,269
Cash paid for income taxes, net		71	$ 110
Supplemental non-cash investing and financing activities:
Debt issuance costs added to notes payable		691
Debt issuance cost added to other long-term liabilities		2,000
Liabilities assumed in exchange for right of use lease assets		$ 489

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,023	$ 1,014
Accounts receivable, less allowance for doubtful accounts of $728 and $780 as of June 30, 2026 and December 31, 2025, respectively	49,533	49,010
Prepaid expenses and other current assets	1,726	1,174
Total current assets	52,282	51,198
Goodwill	70,065	81,065
Intangible assets, net	6,292	7,650
Property and equipment, net, and other assets	5,638	5,638
Total assets	134,277	145,551
Current liabilities:
Accounts payable and accrued liabilities	43,801	38,384
Other current liabilities	60	128
Current portion of notes payable	540	1,015
Total current liabilities	44,401	39,527
Notes payable, net	59,365	63,999
Other long-term liabilities	3,725	1,513
Total liabilities	107,491	105,039
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value, 10,000 shares authorized, no shares issued and outstanding as of June 30, 2026 and December 31, 2025
Common stock, $0.001 par value, 200,000 shares authorized, 21,093 and 20,960 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	21	21
Additional paid-in capital	181,793	180,984
Accumulated deficit	(155,028)	(140,493)
Total stockholders’ equity	26,786	40,512
Total liabilities and stockholders’ equity	$ 134,277	$ 145,551