Quest Resource (US:QRHC)2026-03-12 20:34Financial Performance - Revenue for Q4 2025 was $58.9 million, a 15.8% decrease compared to Q4 2024, and a 7.0% decrease from Q3 2025[5] - Gross profit for Q4 2025 was $9.1 million, a 15.1% decrease compared to Q4 2024, and a 20.6% decrease from Q3 2025[5] - GAAP net loss for Q4 2025 was $1.7 million, an improvement from a net loss of $9.5 million in Q4 2024[5] - Adjusted EBITDA for Q4 2025 was $2.1 million, compared to $1.7 million in Q4 2024[5] - Total revenue for fiscal year 2025 was $250.2 million, a 13.3% decrease compared to 2024[5] - Gross profit for fiscal year 2025 was $42.5 million, a 14.9% decrease compared to 2024[5] - GAAP net loss for fiscal year 2025 was $15.4 million, consistent with a net loss of $15.1 million in 2024[5] Debt and Financial Flexibility - Debt was reduced by $13.2 million in 2025, representing a 16.4% reduction from December 31, 2024[5] - The ABL credit facility was refinanced with Texas Capital Bank, providing additional financial flexibility through 2027[6] Asset and Liability Changes - Total current assets decreased from $75,139 million in 2024 to $51,198 million in 2025, a decline of approximately 31.9%[18] - Cash and cash equivalents increased significantly from $396 million in 2024 to $1,014 million in 2025, representing a growth of 156.6%[18] - Accounts receivable decreased from $62,252 million in 2024 to $49,010 million in 2025, a reduction of about 21.3%[18] - Total liabilities decreased from $121,489 million in 2024 to $105,039 million in 2025, a decline of approximately 13.5%[18] - Current liabilities decreased from $44,391 million in 2024 to $39,527 million in 2025, a reduction of about 11.5%[18] - Notes payable decreased from $76,265 million in 2024 to $63,999 million in 2025, a decline of approximately 16.0%[18] Equity and Deficit - Stockholders' equity decreased from $54,156 million in 2024 to $40,512 million in 2025, a drop of about 25.2%[18] - Additional paid-in capital increased from $179,246 million in 2024 to $180,984 million in 2025, a rise of approximately 1.0%[18] - The accumulated deficit increased from $125,111 million in 2024 to $140,493 million in 2025, reflecting a worsening of about 12.3%[18] - Total assets decreased from $175,645 million in 2024 to $145,551 million in 2025, a decline of approximately 17.1%[18] Business Development - The company launched significant expansions with existing customers and onboarded a new full-service restaurant customer[5]