Quest Resource (QRHC) came out with a quarterly loss of $0.16 per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to loss of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -700%. A quarter ago, it was expected that this recycling company would post a loss of $0.01 per share when it actually produced a loss of $0.07, delivering a surprise of -600%.Over the last four quarters, the company has s ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common stock QRHC NASDAQ Large accelerated filer ☐ Accelerated filer ☒ Non-accelerated filer ☐ Smaller reporting company ☒ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 Commission file number: 001-36451 Quest Resource Holding Corporation (Exact Name of Regist ...

Financial Performance - Revenue for Q3 2024 was $72.8 million, a 3.3% increase compared to Q3 2023[2] - Gross profit for Q3 2024 was $11.7 million, a 5.9% decrease compared to Q3 2023, resulting in a gross margin of 16.1%[2] - GAAP net loss for Q3 2024 was $(3.4) million, compared to a net loss of $(2.1) million in Q3 2023[2] - Adjusted EBITDA for Q3 2024 was $2.5 million, down from $3.7 million in Q3 2023[2] - Year-to-date revenue as of September 30, 2024, was $218.6 million, a 0.2% decrease compared to the same period in 2023[3] - Adjusted net loss per diluted share for Q3 2024 was $(0.06), compared to adjusted net income of $0.02 per diluted share in Q3 2023[2] - The company anticipates year-over-year increases in revenue and profitability in Q4 2024 due to the ramp-up of new business[1] Client Acquisition and Business Development - The company secured new clients in food distribution and automotive service, each expected to generate seven figures of annual revenue[5] Operational Changes - The implementation of a new automated vendor management system has led to increased efficiencies but also higher than expected costs during the transition[1] Debt and Financial Strategy - The company is in the final stages of refinancing its debt, expected to be completed by the end of 2024, which will result in reduced interest expenses[1] Balance Sheet Highlights - Total current assets increased to $64,568,000 as of September 30, 2024, compared to $60,613,000 as of December 31, 2023, reflecting a growth of approximately 6.4%[14] - Total liabilities rose to $115,387,000 as of September 30, 2024, up from $110,838,000 as of December 31, 2023, indicating an increase of about 4.7%[15] - Stockholders' equity decreased to $62,768,000 as of September 30, 2024, down from $66,281,000 as of December 31, 2023, representing a decline of approximately 5.7%[16] - Cash and cash equivalents significantly increased to $1,133,000 as of September 30, 2024, compared to $324,000 as of December 31, 2023, marking a substantial growth of over 250%[14] - Accounts receivable rose to $60,125,000 as of September 30, 2024, from $58,147,000 as of December 31, 2023, reflecting an increase of about 3.4%[14] - Current liabilities decreased to $42,540,000 as of September 30, 2024, down from $44,925,000 as of December 31, 2023, showing a reduction of approximately 5.3%[15] - Goodwill remained stable at $85,828,000 for both September 30, 2024, and December 31, 2023, indicating no change[14] - Additional paid-in capital increased to $178,351,000 as of September 30, 2024, compared to $176,309,000 as of December 31, 2023, reflecting a growth of about 1.2%[16] - The accumulated deficit increased to $(115,603,000) as of September 30, 2024, from $(110,048,000) as of December 31, 2023, indicating a worsening of approximately 5%[16] - Total assets slightly increased to $178,155,000 as of September 30, 2024, compared to $177,119,000 as of December 31, 2023, showing a marginal growth of about 0.6%[14]

New client onboarding progressing as expected, with third-quarter revenue run rate from new client wins secured during 2024 achieving approximately 60% of expected fully ramped run rate New automated vendor management system is demonstrating increased efficiencies and improved service levels but has temporarily resulted in higher-than-expected costs in support of the transition Pace of new client wins continues with significant new client wins in food distribution and automotive service end markets THE COLO ...

South_agency This article analyzes Quest Resource Holding (NASDAQ:QRHC) 2Q24 results and earnings call. It also revisits the company's valuation and my rating (a Hold since March 2023). The company's results were not great. The company had guided for growth as it started to ramp up new contracts but posted revenues shrinking, caused by some clients meaningfully driving down volumes. This did not affect the company's profits because these clients seemed to be low-margin businesses. Still, the company is stil ...

Quest Resource Holding Corporation (NASDAQ:QRHC) Q2 2024 Earnings Call August 8, 2024 5:00 PM ET Company Participants Dave Mossberg - Investor Relations Ray Hatch - President and Chief Executive Officer Brett Johnston - Chief Financial Officer Conference Call Participants Aaron Spychalla - Craig-Hallum Greg Kitt - Pinnacle Family George Melas - MKH Management Operator Good afternoon, ladies and gentlemen, and welcome to Quest Resource Holding Corporation Second Quarter 2024 Earnings Conference Call. [Operat ...

Quest Resource (QRHC) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to loss of $0.04 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -600%. A quarter ago, it was expected that this recycling company would post a loss of $0.06 per share when it actually produced a loss of $0.03, delivering a surprise of 50%. Over the last four quarters, the company has su ...

Revenue Performance - Revenue for Q2 2024 was $73.1 million, a decrease of $1.4 million, or 1.8%, compared to $74.5 million in Q2 2023[75] - For the first half of 2024, revenue was $145.8 million, down $2.8 million, or 1.9%, from $148.6 million in the same period of 2023[75] - The decline in revenue for Q2 2024 was primarily due to lower volumes from four customers, resulting in a revenue decrease of approximately $11 million[76] Profitability Metrics - Gross profit for Q2 2024 was $13.5 million, with a gross profit margin of 18.5%, compared to 18.1% in Q2 2023[79] - Adjusted EBITDA for Q2 2024 increased 2.1% to $5.1 million from $5.0 million in Q2 2023[91] - Adjusted EBITDA for Q2 2024 was $5.14 million, compared to $5.03 million in Q2 2023, reflecting an increase of 2.1%[93] - Adjusted net income for Q2 2024 was $0.7 million, down from $1.5 million in Q2 2023, representing a decline of 53.3%[94] Net Loss and Expenses - Net loss for Q2 2024 was $(1.5) million, compared to a net loss of $(0.9) million in Q2 2023[87] - Operating expenses for Q2 2024 were $11.8 million, slightly higher than $11.7 million in Q2 2023[81] - Selling, general, and administrative expenses increased to $9.4 million in Q2 2024 from $9.2 million in Q2 2023, primarily due to labor-related expenses[82] - Net loss for Q2 2024 was $(1.51) million, compared to a net loss of $(0.89) million in Q2 2023, indicating a deterioration in performance[94] Cash Flow and Liquidity - Cash and cash equivalents increased to $1.0 million as of June 30, 2024, up from $0.3 million at the end of 2023[95] - Net cash used in operating activities for the first half of 2024 was $(0.8) million, compared to net cash provided of $6.3 million in the same period of 2023[100] - Cash used in investing activities for the first half of 2024 was $(4.8) million, primarily for the purchase of compactors and related equipment[101] - Net cash provided by financing activities for the first half of 2024 was $6.3 million, mainly from borrowings of $4.0 million on the ABL Facility[102] - Working capital increased to $21.6 million as of June 30, 2024, compared to $15.7 million at the end of 2023[95] - The company expects existing cash and cash equivalents, along with borrowing availability, to be sufficient to fund operations for the next 12 months[98] - The company has no off-balance sheet debt or similar obligations[107] Taxation - The company recorded a provision for income tax of $684,113 for Q2 2024, significantly higher than $170,779 in Q2 2023[85] - Interest expense for Q2 2024 was $2.6 million, consistent with Q2 2023, reflecting increases in base interest rates[84]

Exhibit 99.1 Quest Resource Holding Corporation Reports Second Quarter 2024 Financial Results On track for double-digit growth in gross profit and adjusted EBITDA during 2024 and 2025 Significant new client win and multiple program expansion wins with existing clients Added to the Russell 2000 and 3000 Indexes THE COLONY, TX – August 8, 2024 – Quest Resource Holding Corporation (Nasdaq: QRHC) ("Quest"), a national leader in environmental waste and recycling services, today announced financial results for th ...

THE COLONY, Texas, June 04, 2024 (GLOBE NEWSWIRE) -- Quest Resource Holding Corporation (NASDAQ:QRHC) ("Quest"), a national leader in environmental waste and recycling services, has announced the appointment of Perry W. Moss to the newly created position of Chief Revenue Officer. Moss, who joined Quest as Senior Vice President of Sales and Business Development nine months ago, brings over 30 years of broad business development experience to his new role. His track record at Quest includes bringing on a reco ...