10-K · March 13, 2026
Quest Resource (QRHC) describes an asset-light, technology-enabled managed services strategy focused on scaling one-stop waste and recycling programs across >150 waste streams and tens of thousands of U.S. and Canadian…
Earnings analysis · 10-Q
QRHC earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Quest Resource Holding Corporation's Q1 2026 results reflected a revenue decline of 9.8% to $61.7 million compared to the prior year, primarily due to decreased waste volumes in the industrial sector. The net loss…
Read full summary
Quest Resource Holding Corporation's Q1 2026 results reflected a revenue decline of 9.8% to $61.7 million compared to the prior year, primarily due to decreased waste volumes in the industrial sector. The net loss narrowed to $2.3 million with an EPS of $(0.11), missing expectations, contrasting with a steeper loss in the same quarter of the previous year.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.11
- Gross margin
- 15.7%
What stood out
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Revenue Decline Compared to Last Year
Reported revenue of $61.7 million, down 9.8% from $68.4 million in Q1 2025.
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Narrowed Net Loss
Net loss for Q1 2026 was $2.3 million, improved from a loss of $10.4 million in Q1 2025.
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Reduction in Operating Expenses
Operating expenses decreased significantly to $9.4 million in Q1 2026 from $19.1 million in Q1 2025.
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Improved Adjusted EBITDA
Adjusted EBITDA increased 15.2% to $1.8 million from $1.6 million year-over-year.
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Cash Position Stable
Working capital remained stable at $11.9 million, including $1.1 million in cash and cash equivalents.
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Decrease in Interest Expense
Interest expense decreased to $2.1 million compared to $2.3 million in the prior year.
What to watch
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Continued Revenue Decline
Revenue decreased year-over-year by $6.7 million or 9.8%, primarily impacting the industrial end-market.
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Negative EPS from Estimates
Reported EPS was $(0.11), missing analysts’ estimate of $(0.06) by 83%.
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Dependency on Key Clients
Loss of a key client resulted in $1.7 million attrition in revenue, affecting overall performance.
Management's outlook
Management expressed cautious optimism regarding macroeconomic conditions affecting future performance.
Earlier filings 4
10-Q · August 8, 2024
QRHC reported Q2 2024 revenue of $73.145 million, down $1.35 million (≈1.8%) vs. Q2 2023 and essentially flat gross profit at $13.532 million (gross margin ≈18.5%). The company posted operating income of $1.782 million…
10-K · March 23, 2023
The 2022 Form 10-K presents Quest Resource Holding Corporation as an asset-light, national provider of recycling and waste services focused on multi-location business customers and a strategy built on expanding service…
10-Q · November 14, 2022
QRHC reported Q3 revenue of $73,358,293, up 96.3% year-over-year from $37,366,740, driven by 2021-2022 acquisitions. Despite higher revenue, gross margin compressed to 16.6% (from 18.3% in Q3 2021) and operating income…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.