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QRHC

Quest Resource Holding Corporation

QRHC

Quest Resource Holding Corporation • NASDAQ
$1.88 ▲ 0.00% (+0.00)
Market Cap $39.17 M
52w High $7.35
52w Low $1.11
Dividend Yield 0%
P/E -1.68
Volume 35.64K
Outstanding Shares 20.84M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $63.341M ▲ $10.392M ▼ $-1.349M ▲ -2.13% ▲ $-0.06 ▲ $2.573M ▲
Q2-2025 $59.54M ▼ $10.655M ▼ $-1.971M ▲ -3.31% ▲ $-0.094 ▲ $1.944M ▲
Q1-2025 $68.43M ▼ $19.092M ▲ $-10.406M ▼ -15.207% ▼ $-0.5 ▼ $-279K ▼
Q4-2024 $69.97M ▼ $17.904M ▲ $-9.508M ▼ -13.588% ▼ $-0.46 ▼ $1.004M ▼
Q3-2024 $72.765M $12.64M $-3.386M -4.653% $-0.16 $1.672M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.146M ▲ $149.285M ▼ $107.276M ▼ $42.009M ▼
Q2-2025 $449K ▼ $153.062M ▼ $110.124M ▼ $42.938M ▼
Q1-2025 $1.43M ▲ $165.659M ▼ $121.297M ▼ $44.362M ▼
Q4-2024 $396K ▼ $175.645M ▼ $121.489M ▲ $54.156M ▼
Q3-2024 $1.133M $178.155M $115.387M $62.767M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.349M ▲ $5.661M ▲ $-287K ▲ $-4.677M ▼ $697K ▲ $5.632M ▲
Q2-2025 $-1.971M ▲ $3.903M ▲ $-313K ▼ $-4.571M ▼ $-981K ▼ $3.59M ▲
Q1-2025 $-10.406M ▼ $-1.058M ▲ $4.547M ▲ $-2.455M ▼ $1.034M ▲ $-1.515M ▲
Q4-2024 $-9.508M ▼ $-4.766M ▼ $-773.715K ▼ $4.802M ▲ $-737.278K ▼ $-5.54M ▼
Q3-2024 $-3.386M $-474.737K $-348.99K $999.46K $175.733K $-583.03K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product Sales And Other
Product Sales And Other
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Services
Services
 $140.00M ▲$70.00M ▼$60.00M ▼$60.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Quest’s sales have grown meaningfully over the past few years and then leveled off more recently. The company is clearly able to win business, but it is doing so on fairly thin margins. Gross profit has improved versus several years ago, yet operating profit is still hovering around break‑even. Net results have slipped into small but persistent losses in the last few years, and those losses widened in the latest year. Overall, this looks like a business with decent revenue scale but not yet consistently turning that revenue into solid, dependable earnings.

Balance Sheet

Balance Sheet The balance sheet is relatively small and simple. Total assets have been steady, but cash on hand is quite limited and has declined versus a few years ago. Debt has increased noticeably compared with earlier periods, while shareholders’ equity has edged down more recently. This combination points to a company that has used borrowing to support growth and operations, and now operates with a modest but meaningful level of financial leverage. The main risk is a limited cash cushion if conditions weaken or if the company needs to invest more heavily.

Cash Flow

Cash Flow Cash generation is the main pressure point. Operating cash flow has hovered around break‑even and turned slightly negative in the most recent year. Because the business model is asset‑light, capital spending is very low, so free cash flow tracks operating cash flow closely. That means the company is not yet consistently producing surplus cash it can use to reduce debt or build reserves. In a stable or growing environment this can be manageable, but it leaves less room for error if growth stalls or working‑capital needs increase.

Competitive Edge

Competitive Edge Quest competes in waste management by acting as a nationwide, asset‑light coordinator rather than a traditional truck‑and‑landfill operator. It relies on a large network of third‑party vendors and a technology platform that gives multi‑location customers a single, data‑rich view of all their waste streams. This model can offer clients convenience, tailored solutions, and help with ESG reporting. At the same time, Quest is much smaller than the large, fully integrated waste companies it ultimately competes with for corporate budgets. Its edge comes from flexibility, data, and service customization, but it must continually prove that value against larger players that control physical assets and have stronger balance sheets.

Innovation and R&D

Innovation and R&D Innovation for Quest is centered on software, data, and service design rather than heavy industrial R&D. Its proprietary platform collects and analyzes waste data across many sites, helping customers improve recycling, reduce landfill use, and meet sustainability goals. The company is exploring ways to turn this data into more analytics‑driven, subscription‑style services and could layer in more advanced tools like AI over time. It also expands into new industry niches and complex waste streams, often through targeted acquisitions. The key opportunity is to deepen the technology and analytics side of the offering so that switching away from Quest becomes unattractive for customers.

Summary

Quest Resource is a niche, technology‑enabled player in the waste management space, built around an asset‑light, data‑centric model. Strategically, it is well aligned with rising demand for sustainability and ESG reporting, and its nationwide vendor network and software platform give it a differentiated story versus traditional haulers. Financially, however, the picture is mixed: revenue has grown but profits are thin, recent years show small but recurring losses, cash generation is weak, and leverage has increased as cash balances have shrunk. The company’s future hinges on its ability to translate its competitive and technology advantages into stronger margins and steady free cash flow, while managing the risks that come with a small balance sheet in a competitive, scale‑driven industry.