Quest Resource (US:QRHC)2025-11-10 21:00Financial Performance - Revenue for Q3 2025 was $63.3 million, a 6.4% increase from Q2 2025 but a 13.0% decrease compared to Q3 2024[4] - Adjusted EBITDA for Q3 2025 was $2.9 million, up from $2.5 million in Q3 2024, while year-to-date Adjusted EBITDA was $7.2 million compared to $12.8 million in the same period of 2024[4] - GAAP net loss for Q3 2025 was $(1.3) million, an improvement from a net loss of $(3.4) million in Q3 2024, with net loss per share improving to $(0.06) from $(0.16)[4] - Gross profit for Q3 2025 was $11.5 million, a 3.9% increase from Q2 2025, with a gross margin of 18.1% compared to 16.1% in Q3 2024[4] - Operating cash flow for Q3 2025 was $5.7 million, representing a 45% improvement from the prior quarter, bringing the year-to-date total to $8.5 million[1] Debt and Asset Management - Year-to-date debt reduction reached $11.2 million, marking a 14% decrease[4] - The company recognized a non-cash loss on the sale of assets of $4.3 million related to the sale of the tenant-direct mall portion of RWS during Q1 2025[4] - Total current assets decreased from $75,139 million as of December 31, 2024, to $54,012 million as of September 30, 2025, representing a decline of approximately 28.1%[19] - Cash and cash equivalents increased significantly from $396 million in December 31, 2024, to $1,146 million in September 30, 2025, showing a growth of 189.4%[19] - Accounts receivable decreased from $62,252 million to $50,746 million, a reduction of about 18.5%[19] - Total liabilities decreased from $121,489 million to $107,276 million, reflecting a decline of approximately 11.7%[19] - Stockholders' equity decreased from $54,156 million to $42,009 million, a drop of about 22.4%[19] - The accumulated deficit increased from $(125,111) million to $(138,837) million, indicating a worsening of approximately 11.0%[19] - Goodwill remained constant at $81,065 million for both periods, indicating stability in this asset category[19] - Total assets decreased from $175,645 million to $149,285 million, a decline of approximately 15.0%[19] - Current liabilities decreased from $44,391 million to $40,798 million, a reduction of about 8.9%[19] - Additional paid-in capital increased from $179,246 million to $180,825 million, showing a slight growth of 0.9%[19] Business Development - The company signed a new contract in the food products end market, driving incremental organic growth[4] - The sales pipeline remains active and growing, with ongoing onboarding of recent client wins[5] - The company expressed confidence in maintaining momentum and driving improvements as it heads into 2026[5]