$ARQ
Advanced Emissions Solutions, Inc.
CIK:0001515156|SEC Filings
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands |
3 Months Ended | 6 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
[1] | Jun. 30, 2026 |
Jun. 30, 2025 |
[1] | |||||||
| Income Statement [Abstract] | ||||||||||||
| Revenue | $ 29,883,000 | $ 28,584,000 | $ 58,936,000 | $ 55,831,000 | ||||||||
| Cost of revenue, exclusive of depreciation and amortization | 18,372,000 | 19,066,000 | 37,486,000 | 36,398,000 | ||||||||
| Operating expenses: | ||||||||||||
| Selling, general and administrative | 6,789,000 | 5,918,000 | 14,158,000 | 11,971,000 | ||||||||
| Research and development | 958,000 | 2,697,000 | 1,940,000 | 3,571,000 | ||||||||
| Depreciation, amortization, depletion and accretion | 3,542,000 | 2,721,000 | 6,407,000 | 5,138,000 | ||||||||
| Loss (gain) on sale of assets | 290,000 | (27,000) | 290,000 | 118,000 | [2] | |||||||
| Total operating expenses | 11,579,000 | 11,309,000 | 22,795,000 | 20,798,000 | ||||||||
| Operating loss | (68,000) | (1,791,000) | (1,345,000) | (1,365,000) | ||||||||
| Other income (expense): | ||||||||||||
| Interest expense | (748,000) | (594,000) | (1,453,000) | (1,318,000) | ||||||||
| Other income | 83,000 | 16,000 | 928,000 | 281,000 | ||||||||
| Total other expense | (665,000) | (578,000) | (525,000) | (1,037,000) | ||||||||
| Loss before income taxes | (733,000) | (2,369,000) | (1,870,000) | (2,402,000) | ||||||||
| Income tax expense | 0 | 0 | 0 | 0 | ||||||||
| Net loss | $ (733,000) | $ (2,369,000) | [3] | $ (1,870,000) | $ (2,402,000) | [2] | ||||||
| Loss per common share (Note 1): | ||||||||||||
| Basic (in dollars per share) | $ (0.02) | $ (0.06) | $ (0.04) | $ (0.06) | ||||||||
| Diluted (in dollars per share) | $ (0.02) | $ (0.06) | $ (0.04) | $ (0.06) | ||||||||
| Weighted-average number of common shares outstanding: | ||||||||||||
| Basic (in shares) | 42,102 | 41,507 | 41,914 | 41,415 | ||||||||
| Diluted (in shares) | 42,102 | 41,507 | 41,914 | 41,415 | ||||||||
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Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Mar. 31, 2026 |
Jun. 30, 2025 |
Mar. 31, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
[4] | Dec. 31, 2025 |
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| Cash flows from operating activities | ||||||||||||||||||||
| Net loss | $ (733) | $ (1,137) | [1] | $ (2,369) | [2],[3] | $ (33) | [2] | $ (1,870) | $ (2,402) | [3] | ||||||||||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||||||||||||
| Depreciation, amortization, depletion and accretion | 6,407 | 5,138 | ||||||||||||||||||
| Stock-based compensation expense | 1,934 | 1,470 | ||||||||||||||||||
| Operating lease expense | 1,382 | 1,161 | ||||||||||||||||||
| Loss on sale of long-term assets, net | 290 | (27) | [3] | 290 | 118 | [3] | ||||||||||||||
| Amortization of debt discount and debt issuance costs | 205 | 173 | ||||||||||||||||||
| Other non-cash items, net | (59) | (160) | ||||||||||||||||||
| Changes in operating assets and liabilities: | ||||||||||||||||||||
| Receivables | (5,050) | (671) | ||||||||||||||||||
| Prepaid expenses and other assets | (683) | (2,853) | ||||||||||||||||||
| Inventories | (2,690) | (1,580) | ||||||||||||||||||
| Other long-term assets, net | (2,197) | (1,631) | ||||||||||||||||||
| Accounts payable and accrued expenses | 178 | (5,709) | ||||||||||||||||||
| Other current liabilities | 1,224 | 1,651 | ||||||||||||||||||
| Operating lease liabilities | (1,562) | 204 | ||||||||||||||||||
| Other long-term liabilities | (168) | (185) | ||||||||||||||||||
| Net cash used in operating activities | (2,659) | (5,276) | ||||||||||||||||||
| Cash flows from investing activities | ||||||||||||||||||||
| Acquisition of property, plant, equipment and intangible assets, net | (1,973) | (5,589) | ||||||||||||||||||
| Acquisition of mine development costs | (128) | (96) | ||||||||||||||||||
| Distributions from equity method investee in excess of cumulative earnings | 78 | 155 | ||||||||||||||||||
| Net cash used in investing activities | (2,023) | (5,530) | ||||||||||||||||||
| Cash flows from financing activities | ||||||||||||||||||||
| Borrowings on revolving credit facility | 58,173 | 61,884 | ||||||||||||||||||
| Repayments of revolving credit facility | (55,714) | (57,184) | ||||||||||||||||||
| Principal payments on notes payable | (358) | (393) | ||||||||||||||||||
| Repurchase of common stock to satisfy tax withholdings | (200) | (48) | ||||||||||||||||||
| Principal payments on finance lease obligations | (117) | (264) | ||||||||||||||||||
| Net cash provided by financing activities | 1,784 | 3,995 | ||||||||||||||||||
| Decrease in Cash and Restricted Cash | (2,898) | (6,811) | ||||||||||||||||||
| Cash and Restricted Cash, beginning of period | $ 15,040 | $ 22,235 | [4] | 15,040 | 22,235 | $ 22,235 | [4] | |||||||||||||
| Cash and Restricted Cash, end of period | $ 12,142 | $ 15,424 | [4] | 12,142 | 15,424 | $ 15,040 | ||||||||||||||
| Supplemental disclosure of non-cash investing and financing activities: | ||||||||||||||||||||
| Accrued purchases for property and equipment | 912 | 553 | ||||||||||||||||||
| Acquisition of property and equipment under finance lease | $ 242 | $ 0 | ||||||||||||||||||
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