Quest Resource Holding第二季收入增7.6% 惟商譽減值拖累轉虧1220萬美元

EX-99.1
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qrhc-ex99_1.htm
EX-99.1

 
 EX-99.1
 
 
 

 Exhibit 99.1
Quest Resource Holding Corporation Reports Second Quarter 2026 Financial Results
 
Revenue of $64.1 million increased 7.6% compared to the prior year period
 
Secured four new share-of-wallet wins, including a significant share-of-wallet win with a large national automotive parts retailer
 
Productivity initiatives drove an 11% reduction in SG&A compared to the prior year period
 
Strong operating cash flow of $4.5 million facilitated the voluntary reduction of $2.0 million of term debt, bringing year-to-date voluntary debt reduction to $4.0 million
 
 
IRVING, TX – August 6, 2026 – Quest Resource Holding Corporation (Nasdaq: QRHC) (“Quest” or the “Company”), a national leader in environmental waste and recycling services, today announced financial results for the second quarter ended June 30, 2026.
 
 
Second Quarter 2026 Highlights
•Revenue was $64.1 million, a 7.6% increase compared with the second quarter of 2025, and a 3.8% increase from the first quarter of 2026. 

•Gross profit was $10.4 million, a 5.5% decrease compared with the second quarter of 2025, and a 7.9% increase from the first quarter of 2026. 

•Gross margin was 16.3% of revenue, compared with 18.5% of revenue for the second quarter of 2025, and 15.7% of revenue for the first quarter of 2026. 

•GAAP net loss was $(12.2) million, which included a non-cash goodwill impairment loss of $(11.0) million, compared with a net loss of $(2.0) million for the second quarter of 2025, and a net loss of $(2.3) million for the first quarter of 2026.

•GAAP net loss per basic and diluted share attributable to common stockholders was $(0.57), compared with $(0.09) for the second quarter of 2025 and $(0.11) for the first quarter of 2026. 

•Adjusted EBITDA was $2.8 million, compared with $2.7 million for the second quarter of 2025 and $1.8 million for the first quarter of 2026. 

 
 
Recent Highlights
 
•Second quarter was driven by strong contributions from new customer wins and wallet share expansions that were onboarded during the second half of 2025 and the first quarter of 2026. 

•Successfully launched a large franchisee customer in the quick-service restaurant industry in May with minimal start-up costs. 

•Secured four new share-of-wallet wins, including a significant share-of-wallet win with a large national automotive parts retailer.

•Productivity initiatives and cost optimization drove strong operating cash flow of $4.5 million for the second quarter. 

•Utilized funds from further progress on working capital initiatives to pay down early another $2.0 million of higher rate term debt, reducing future interest expense. 

 
“We returned to top-line and Adjusted EBITDA growth during the second quarter, both sequentially and compared to the prior year, supported by the growing contributions of recent customer wins and wallet share expansions, stabilizing volumes from our Industrial customers and achieved ongoing efficiencies across the business,” said Perry W. Moss, Quest’s Chief Executive Officer. “Looking ahead, our sales pipeline remains healthy, and we are 

  

 
  

 encouraged by what appears to be a gradually improving operating landscape. We remain focused on executing our Operational Excellence initiatives to drive productivity enhancements and expect to deliver improved financial results as conditions normalize.”
 
Brett Johnston, Quest’s Chief Financial Officer, added, “Recent customer wins and wallet share expansions delivered more meaningful margin contributions in the second quarter as the one-time start-up costs subsided late in the first quarter. Combined with our continued focus on SG&A reduction and cost optimization, which drove 100% flow through of our gross profit gains, we achieved strong sequential Adjusted EBITDA growth. These, combined with further progress on our working capital initiatives, helped generate strong operating cash flow of $4.5 million, which facilitated the reduction of our term loan balance by another $2.0 million. Our financial focus remains on cost optimization, debt reduction, and the ongoing improvement of our cash cycle.” 
 
Second Quarter 2026 Earnings Conference Call and Webcast
 
Quest will host a conference call on Thursday, August 6, 2026, at 5:00 PM ET, to review the financial results for the second quarter ended June 30, 2026. To participate, dial 1-800-715-9871 or 1-646-307-1963 (International). The conference call, which may include forward-looking statements, is also being webcast and is available via the investor relations section of Quest’s website at https://investors.qrhc.com/. A replay of the webcast will be archived on Quest’s investor relations website for at least 90 days. 
About Quest Resource Holding Corporation 
 
Quest is a national provider of waste and recycling services that empower larger businesses to excel in achieving their environmental and sustainability goals and responsibilities. Quest delivers focused expertise across multiple industry sectors to build single-source, customer-specific solutions that generate quantifiable business and sustainability results. Addressing a wide variety of waste streams and recyclables, Quest provides information and data that tracks and reports the environmental results of Quest’s services, gives actionable data to improve business operations, and enables Quest’s customers to excel in their business and sustainability responsibilities. For more information, visit https://questrmg.com/. 
 
Reconciliation of U.S. GAAP to Non-GAAP Financial Measures 
 
In this press release, the non-GAAP financial measure “Adjusted EBITDA” is presented. From time-to-time, Quest considers and uses supplemental measures of operating performance in order to provide an improved understanding of underlying performance trends. Quest believes it is useful to review, as applicable, both (1) GAAP measures that include (i) depreciation and amortization, (ii) interest expense, (iii) stock-based compensation expense, (iv) income tax expense, and (v) certain other adjustments, and (2) non-GAAP measures that exclude such items. Quest presents this non-GAAP measure because it considers it an important supplemental measure of Quest's performance. Quest’s definition of this adjusted financial measure may differ from a similar measure used by others. Quest believes this measure facilitates operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. This non-GAAP measure has limitations as an analytical tool and should not be considered in isolation or as a substitute for the Company’s GAAP measures. (See attached table “Reconciliation of Net Loss to Adjusted EBITDA”). 
 
Safe Harbor Statement 
 
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which provides a “safe harbor” for such statements in certain circumstances. The forward-looking statements include, but are not limited to, our belief that our sales pipeline remains healthy, our expectation that the operating landscape is slowly improving, and our expectation that we will be able to deliver improved financial results as conditions normalize. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors, including, but not limited to, competition in the environmental services industry, the impact of the current economic environment, interruptions to supply chains, commodity price fluctuations, and extended shut down of businesses, and other factors discussed in greater detail in our filings with the Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2025. You are cautioned not to place undue reliance on such statements and to consult our SEC filings for additional risks and uncertainties that may apply to our business and the ownership of 

  

 
  

 our securities. Our forward-looking statements are presented as of the date made, and we disclaim any duty to update such statements unless required by law to do so.
 
 Investor Relations Contact: 
 
Alpha IR Group
Nick Nelson or Chris Hodges
[email protected]
312-445-2870
 
 
 
Financial Tables Follow

  

 
  

 Quest Resource Holding Corporation and Subsidiaries
STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share amounts)
 

 
 
 
 
 
 
 
 
 
 
 
 

 
  

  

 Three Months Ended June 30,

  

 

 
  

  

 2026

  

  

 2025

  

 

 
 Revenue

  

 $

 64,069

  

  

 $

 59,540

  

 

 
 Cost of revenue

  

  

 53,639

  

  

  

 48,503

  

 

 
 Gross profit

  

  

 10,430

  

  

  

 11,037

  

 

 
 Operating expenses:

  

  

  

  

  

  

 

 
 Selling, general, and administrative

  

  

 8,246

  

  

  

 9,295

  

 

 
 Depreciation and amortization

  

  

 1,059

  

  

  

 1,299

  

 

 
 Loss on sale of assets, net

  

  

 88

  

  

  

 61

  

 

 
 Impairment loss

  

  

 11,000

  

  

  

 —

  

 

 
 Total operating expenses

  

  

 20,393

  

  

  

 10,655

  

 

 
 Operating (loss) income

  

  

 (9,963

 )

  

  

 382

  

 

 
 Interest expense

  

  

 (2,208

 )

  

  

 (2,375

 )

 

 
 Loss before taxes

  

  

 (12,171

 )

  

  

 (1,993

 )

 

 
 Income tax expense (benefit)

  

  

 46

  

  

  

 (22

 )

 

 
 Net loss

  

 $

 (12,217

 )

  

 $

 (1,971

 )

 

 
 Net loss per share applicable to common shareholders

  

  

  

  

  

  

 

 
 Basic and diluted

  

 $

 (0.57

 )

  

 $

 (0.09

 )

 

 
 Weighted average number of common shares outstanding

  

  

  

  

  

  

 

 
 Basic and diluted

  

  

 21,334

  

  

  

 20,933

  

 

  
 
 
RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA
(Unaudited)
(In thousands)

 
 
 
 
 
 
 
 
 
 
 
 

 
  

  

 Three Months Ended June 30,

  

 

 
  

  

 2026

  

  

 2025

  

 

 
 Net loss

  

 $

 (12,217

 )

  

 $

 (1,971

 )

 

 
 Depreciation and amortization

  

  

 1,218

  

  

  

 1,500

  

 

 
 Interest expense

  

  

 2,208

  

  

  

 2,375

  

 

 
 Stock-based compensation expense

  

  

 357

  

  

  

 533

  

 

 
 Loss on sale of assets, net

  

  

 88

  

  

  

 61

  

 

 
 Impairment loss

  

  

 11,000

  

  

  

 —

  

 

 
 Other adjustments

  

  

 92

  

  

  

 208

  

 

 
 Income tax expense (benefit)

  

  

 46

  

  

  

 (22

 )

 

 
 Adjusted EBITDA

  

 $

 2,792

  

  

 $

 2,684

  

 

  
 
 

  

 
  

 BALANCE SHEETS
(In thousands, except per share amounts)
 

 
 
 
 
 
 
 
 
 
 
 
 

 
  

  

 June 30,

  

  

 December 31,

  

 

 
  

  

 2026

  

  

 2025

  

 

 
  

  

 (Unaudited)

  

  

  

  

 

 
 ASSETS

  

 

 
 Current assets:

  

  

  

  

  

  

 

 
 Cash and cash equivalents

  

 $

 1,023

  

  

 $

 1,014

  

 

 
 Accounts receivable, less allowance for doubtful accounts of $728 and $780 as of June 30, 2026 and December 31, 2025, respectively

  

  

 49,533

  

  

  

 49,010

  

 

 
 Prepaid expenses and other current assets

  

  

 1,726

  

  

  

 1,174

  

 

 
 Total current assets

  

  

 52,282

  

  

  

 51,198

  

 

 
  

  

  

  

  

  

  

 

 
 Goodwill

  

  

 70,065

  

  

  

 81,065

  

 

 
 Intangible assets, net

  

  

 6,292

  

  

  

 7,650

  

 

 
 Property and equipment, net, and other assets

  

  

 5,638

  

  

  

 5,638

  

 

 
 Total assets

  

 $

 134,277

  

  

 $

 145,551

  

 

 
  

  

  

  

  

  

  

 

 
 LIABILITIES AND STOCKHOLDERS’ EQUITY

  

 

 
 Current liabilities:

  

  

  

  

  

  

 

 
 Accounts payable and accrued liabilities

  

 $

 43,801

  

  

 $

 38,384

  

 

 
 Other current liabilities

  

  

 60

  

  

  

 128

  

 

 
 Current portion of notes payable

  

  

 540

  

  

  

 1,015

  

 

 
 Total current liabilities

  

  

 44,401

  

  

  

 39,527

  

 

 
  

  

  

  

  

  

  

 

 
 Notes payable, net

  

  

 59,365

  

  

  

 63,999

  

 

 
 Other long-term liabilities

  

  

 3,725

  

  

  

 1,513

  

 

 
 Total liabilities

  

  

 107,491

  

  

  

 105,039

  

 

 
  

  

  

  

  

  

  

 

 
 Commitments and contingencies

  

  

  

  

  

  

 

 
  

  

  

  

  

  

  

 

 
 Stockholders’ equity:

  

  

  

  

  

  

 

 
 Preferred stock, $0.001 par value, 10,000 shares authorized, no shares   issued and outstanding as of June 30, 2026 and December 31, 2025

  

  

 —

  

  

  

 —

  

 

 
 Common stock, $0.001 par value, 200,000 shares authorized,   21,093 and 20,960 shares issued and outstanding as   of June 30, 2026 and December 31, 2025, respectively

  

  

 21

  

  

  

 21

  

 

 
 Additional paid-in capital

  

  

 181,793

  

  

  

 180,984

  

 

 
 Accumulated deficit

  

  

 (155,028

 )

  

  

 (140,493

 )

 

 
 Total stockholders’ equity

  

  

 26,786

  

  

  

 40,512

  

 

 
 Total liabilities and stockholders’ equity

  

 $

 134,277

  

  

 $

 145,551

  

 

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