Quest Resource Holding Corporation Reports Fourth Quarter and Fiscal Year 2024 Financial Results
Quest Resource Holding (QRHC) reported its Q4 and fiscal year 2024 results, with Q4 revenue increasing 0.9% to $70.0 million and full-year revenue up 0.1% to $288.5 million. The company faced challenges with Q4 gross profit declining 6.7% to $10.7 million and margins dropping to 15.3% from 16.6% year-over-year.
Notable developments include a debt refinancing that will reduce annual interest expense by $1 million, the addition of eight new major customers, and five expansion agreements with existing clients. The company recorded a Q4 GAAP net loss of $(0.46) per share, impacted by a $5.5 million non-cash impairment loss related to the anticipated sale of RWS's mall business.
Strategic changes include appointing Perry Moss as CEO, implementing a 15% headcount reduction expected to save $3.0 million annually in SG&A costs, and launching an Operational Excellence Initiative to improve efficiency and profitability.
Quest Resource Holding (QRHC) ha riportato i risultati del quarto trimestre e dell'anno fiscale 2024, con un aumento del fatturato del 0,9% a 70,0 milioni di dollari e un incremento del fatturato annuale dello 0,1% a 288,5 milioni di dollari. L'azienda ha affrontato sfide con un calo del profitto lordo del quarto trimestre del 6,7% a 10,7 milioni di dollari e margini che sono scesi al 15,3% rispetto al 16,6% dell'anno precedente.
Sviluppi significativi includono un rifinanziamento del debito che ridurrà la spesa annuale per interessi di 1 milione di dollari, l'aggiunta di otto nuovi clienti importanti e cinque accordi di espansione con clienti esistenti. L'azienda ha registrato una perdita netta GAAP nel quarto trimestre di $(0,46) per azione, influenzata da una perdita di valore non monetaria di 5,5 milioni di dollari relativa alla prevista vendita dell'attività commerciale dei centri commerciali di RWS.
Cambiamenti strategici includono la nomina di Perry Moss come CEO, l'implementazione di una riduzione del personale del 15% che si prevede porterà a un risparmio annuale di 3,0 milioni di dollari nei costi SG&A, e il lancio di un'iniziativa di Eccellenza Operativa per migliorare l'efficienza e la redditività.
Quest Resource Holding (QRHC) reportó sus resultados del cuarto trimestre y del año fiscal 2024, con un aumento del 0.9% en los ingresos del cuarto trimestre a 70.0 millones de dólares y un incremento del 0.1% en los ingresos anuales a 288.5 millones de dólares. La empresa enfrentó desafíos con una disminución del 6.7% en la ganancia bruta del cuarto trimestre a 10.7 millones de dólares y márgenes que cayeron al 15.3% desde el 16.6% en comparación con el año anterior.
Desarrollos notables incluyen un refinanciamiento de deuda que reducirá el gasto anual en intereses en 1 millón de dólares, la adición de ocho nuevos clientes importantes y cinco acuerdos de expansión con clientes existentes. La empresa registró una pérdida neta GAAP en el cuarto trimestre de $(0.46) por acción, afectada por una pérdida por deterioro no monetaria de 5.5 millones de dólares relacionada con la venta anticipada del negocio de centros comerciales de RWS.
Cambios estratégicos incluyen la designación de Perry Moss como CEO, la implementación de una reducción del 15% en la plantilla que se espera ahorre 3.0 millones de dólares anuales en costos SG&A, y el lanzamiento de una Iniciativa de Excelencia Operativa para mejorar la eficiencia y la rentabilidad.
Quest Resource Holding (QRHC)는 2024년 4분기 및 회계연도 결과를 보고했으며, 4분기 수익이 0.9% 증가한 7000만 달러, 연간 수익이 0.1% 증가한 2억 8850만 달러를 기록했습니다. 회사는 4분기 총 이익이 6.7% 감소한 1070만 달러로, 연간 마진이 16.6%에서 15.3%로 떨어지는 어려움에 직면했습니다.
주요 발전 사항으로는 연간 이자 비용을 100만 달러 줄이는 부채 재조정, 8명의 주요 고객 추가, 기존 고객과의 5건의 확장 계약이 포함됩니다. 회사는 RWS의 쇼핑몰 사업 매각과 관련된 550만 달러의 비현금 손상 손실로 인해 4분기 GAAP 기준 주당 순손실이 $(0.46)로 기록되었습니다.
전략적 변화로는 Perry Moss를 CEO로 임명하고, 연간 300만 달러의 SG&A 비용 절감을 예상하는 15%의 인력 감축을 시행하며, 효율성과 수익성을 개선하기 위한 운영 우수성 이니셔티브를 시작하는 것이 포함됩니다.
Quest Resource Holding (QRHC) a annoncé ses résultats du quatrième trimestre et de l'exercice 2024, avec une augmentation de 0,9 % des revenus du quatrième trimestre à 70,0 millions de dollars et une hausse de 0,1 % des revenus annuels à 288,5 millions de dollars. L'entreprise a rencontré des défis avec une baisse de 6,7 % du bénéfice brut du quatrième trimestre à 10,7 millions de dollars et des marges qui ont chuté à 15,3 % contre 16,6 % l'année précédente.
Les développements notables incluent un refinancement de la dette qui réduira les charges d'intérêt annuelles de 1 million de dollars, l'ajout de huit nouveaux clients majeurs et cinq accords d'expansion avec des clients existants. L'entreprise a enregistré une perte nette GAAP de $(0,46) par action au quatrième trimestre, impactée par une perte de valeur non monétaire de 5,5 millions de dollars liée à la vente anticipée de l'activité de centres commerciaux de RWS.
Les changements stratégiques incluent la nomination de Perry Moss en tant que PDG, la mise en œuvre d'une réduction de 15 % des effectifs qui devrait permettre d'économiser 3,0 millions de dollars par an sur les coûts SG&A, et le lancement d'une initiative d'excellence opérationnelle pour améliorer l'efficacité et la rentabilité.
Quest Resource Holding (QRHC) hat seine Ergebnisse für das vierte Quartal und das Geschäftsjahr 2024 veröffentlicht, wobei die Einnahmen im vierten Quartal um 0,9% auf 70,0 Millionen Dollar gestiegen sind und die Gesamteinnahmen um 0,1% auf 288,5 Millionen Dollar zugenommen haben. Das Unternehmen sah sich Herausforderungen gegenüber, da der Bruttogewinn im vierten Quartal um 6,7% auf 10,7 Millionen Dollar sank und die Margen von 16,6% auf 15,3% im Jahresvergleich fielen.
Bemerkenswerte Entwicklungen umfassen eine Schuldenumstrukturierung, die die jährlichen Zinsaufwendungen um 1 Million Dollar senken wird, die Hinzufügung von acht neuen Großkunden und fünf Erweiterungsvereinbarungen mit bestehenden Kunden. Das Unternehmen verzeichnete im vierten Quartal einen GAAP-Nettoverlust von $(0,46) pro Aktie, der durch einen nicht zahlungswirksamen Wertminderungsverlust von 5,5 Millionen Dollar im Zusammenhang mit dem geplanten Verkauf des Einkaufszentrums von RWS beeinflusst wurde.
Strategische Änderungen umfassen die Ernennung von Perry Moss zum CEO, die Umsetzung einer 15%igen Reduzierung der Belegschaft, die voraussichtlich 3,0 Millionen Dollar jährlich bei den SG&A-Kosten einsparen wird, und die Einführung einer Initiative zur operativen Exzellenz zur Verbesserung der Effizienz und Rentabilität.
- Record addition of eight new high-value customers, each generating seven-figure annual revenue
- Successful debt refinancing reducing annual interest expense by $1 million
- Implementation of $3.0 million annual cost savings through headcount reduction and efficiency improvements
- Secured five expansion agreements with major existing clients
- Added over 1,200 vendors to service platform enhancing service capabilities
- Q4 gross profit declined 6.7% to $10.7 million
- Q4 gross margin decreased to 15.3% from 16.6% year-over-year
- Q4 GAAP net loss widened to $(0.46) per share from $(0.11) year-over-year
- Adjusted EBITDA decreased to $1.7 million from $3.5 million in Q4 2023
- $5.5 million non-cash impairment loss from RWS mall business sale
Insights
Quest Resource Holding 's Q4 and full-year 2024 results reveal a company in transition facing significant operational challenges. The 0.9% revenue growth in Q4 was offset by concerning profitability metrics, including a 6.7% decrease in gross profit and margins contracting from 16.6% to 15.3%. Most notably, GAAP net loss worsened considerably to $(0.46) per share from $(0.11) in Q4 2023, partly due to a $5.5 million impairment loss related to the planned divestiture of their non-core mall business.
The company's strategic initiatives signal a significant restructuring effort: reducing headcount by 15%, implementing a new Operational Excellence Initiative, and projecting $3 million in annual SG&A savings. The debt refinancing should provide some relief with approximately $1 million in annual interest expense savings.
Quest's customer acquisition success stands out as a bright spot, with a record eight new large clients added in 2024, each expected to generate seven-figure annual revenues. However, the company clearly acknowledges execution problems, citing temporary onboarding costs, implementation expenses, client attrition, and industrial market weakness.
The leadership transition and operational restructuring represent a substantial organizational reset. While these changes could eventually improve performance, the immediate financial picture shows deteriorating profitability and cash flow, suggesting investors may need patience before seeing tangible improvements from these strategic shifts.
Quest's operational performance reflects a company addressing substantial execution challenges while trying to maintain growth momentum. The implementation of their Operational Excellence Initiative targets systemic workflow improvements - a necessary step given the margin compression evident in their financial results. With gross margins declining to 15.3% from 16.6% year-over-year in Q4, the company clearly needs to optimize its cost structure.
The appointment of Nick Ober as SVP of Operations is strategically significant. His background combining logistics expertise from RXO with waste management experience from Republic Services positions him well to address Quest's specific operational challenges. His dual focus on vendor management and operational excellence addresses two critical components of Quest's business model.
The 15% workforce reduction coupled with the exit from a non-core business segment signals a substantial operational realignment. While such moves typically create short-term disruption, they appear necessary given Quest's execution difficulties. The company's ability to add 1,200+ new vendors to their service platform demonstrates they're still building capacity for future growth despite immediate challenges.
Quest's acknowledgment of temporary cost increases from onboarding new clients suggests potential scalability issues in their operational model. The combination of expansion with existing clients while adding record new customers has evidently stretched their operational capabilities. The new leadership team faces the complex challenge of implementing significant cost reductions while simultaneously improving service delivery and maintaining customer satisfaction.
Added record eight new customers in 2024, reflecting strong value proposition
Refinanced debt in Q4, lowering interest expense by approximately
Reducing headcount by
Named Perry Moss CEO and Nick Ober SVP of Operations
THE COLONY, Texas, March 12, 2025 (GLOBE NEWSWIRE) -- 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 fourth quarter and fiscal year ended December 31, 2024.
Fourth Quarter 2024 Financial Highlights:
- Revenue was
$70.0 million , a0.9% increase compared with the fourth quarter of 2023. - Gross profit was
$10.7 million , a6.7% decrease compared with the fourth quarter of 2023. - Gross margin was
15.3% of revenue compared with16.6% during the fourth quarter of 2023. - GAAP net loss per diluted share attributable to common stockholders was
$(0.46) , compared with$(0.11) per diluted share during the fourth quarter of 2023. - Recognized a non-cash impairment loss of
$5.5 million , or$(0.26) per diluted share, related to the anticipated sale of the tenant-direct mall portion of RWS. - Adjusted EBITDA was
$1.7 million , compared with$3.5 million during the fourth quarter of 2023. Excluding a non-cash cost of revenue adjustment of approximately$1.0 million and a$0.5 million bad debt adjustment for receivables related to the business exit, adjusted EBITDA during the fourth quarter of 2024 would have been approximately$3.2 million . - Adjusted net loss per diluted share was
$(0.09) , compared with adjusted net income of$0.03 per diluted share during the fourth quarter of 2023.
Fiscal Year 2024 Financial Highlights:
- Revenue was
$288.5 million , a0.1% increase compared with 2023. - Gross profit was
$50.0 million , a0.1% decrease compared with 2023. - Gross margin was
17.3% of revenue compared to17.4% during 2023. - GAAP net loss per diluted share attributable to common stockholders was
$(0.73) , compared with$(0.36) during 2023. - Adjusted EBITDA was
$14.5 million , compared to$16.2 million during 2023. - Adjusted net loss per diluted share was
$(0.03) , compared with adjusted net income of$0.15 per diluted share during 2023.
During 2024, Quest achieved several milestones:
- Successfully completed debt refinancing with existing lenders, reducing annual interest expense by approximately
$1 million , while increasing credit line, improving terms, and extending maturities. - Secured eight new client wins expected to generate at least seven figures of annual revenue each, the greatest number of new client wins in one year in the history of the Company.
- Secured five expansion service agreements with some of our largest existing clients, including one during the fourth quarter.
- Added more than 1,200 vendors onto the Company’s service platform, adding to our ability to serve clients broadly.
“In 2024, we made meaningful progress executing against our key strategic priorities,” said Dan M. Friedberg, Chairman of the Company’s Board of Directors. “We added and are in the process of onboarding eight new customers and have expanded agreements with five of some of our largest customers, representing a record amount of new customer activity for the Company in a year. Further, the Company successfully refinanced its long-term debt with our existing lenders, reflecting their continued confidence in the business.”
Friedberg added, “Despite our success in growing the customer base and the substantial activity underway to solidify operations and efficiencies, we clearly recognize more needs to be done to address our execution issues. Our performance was affected by several factors: temporary cost increases from onboarding new clients, expenses for implementing our new vendor management system, client attrition, and weakness in our industrial client end markets. We believe the actions we have taken and the initiatives now underway will normalize operations in the coming quarters and help position Quest to drive long-term results.”
Specific actions include:
- Announced today in a separate news release that Perry Moss has been named Chief Executive Officer. Moss previously served as Quest’s Chief Revenue Officer, and previously held senior leadership roles at Rubicon Technologies, Inc., Oakleaf Holdings, and Smurfit-Stone’s Waste Reduction Services’ business unit. Ray Hatch is retiring as CEO and will remain on the Board of Directors.
- Announced that Nick Ober has joined the Company as Senior Vice President of Operations. Ober most recently served as Vice President of Freight Brokerage Solutions & Strategy for RXO, Inc., the tech-enabled brokered transportation platform, a spin-off from XPO, Inc., where he led carrier operations for a
$3 billion asset-light business unit. He also has deep industry experience, having been Director of Operations for a$400 million region for Republic Services, Inc. Ober will work closely with Dave Sweitzer, Quest’s Chief Operating Officer, will oversee the Vendor Management Group, and will also lead the newly created Operations Excellence Initiative. - Entered into an understanding to sell the non-core tenant-direct mall portion of RWS, the Company’s mall business subject to execution of a definitive agreement.
- Implementing a reduction of headcount by
15% , which, combined with the partial sale of RWS and ongoing efficiency improvement gains, should reduce SG&A by approximately$3.0 million on an annualized basis. - Established an Operational Excellence Initiative, which will benchmark, measure, and target improvement levels across the entire workflow. This fully integrated effort will look to drive process improvements, enhance employee experience, increase customer value-added, expand margins and accelerate the achievement of scale benefits.
Perry Moss, Quest’s Chief Executive Officer, stated, “I believe strongly in Quest’s value proposition and in the power of our platform. We have a tremendous roster of clients, and a highly capable organization focused on generating value for our stakeholders. Importantly, we have a robust pipeline of potential new business, and we expect to continue to deepen client relationships, add valuable services and solutions, invest in our business and people, and improve profitability.”
Mr. Friedberg concluded, “The board and management team are committed to driving change and enhancing shareholder value. We have a strong platform and are focused on operational excellence. We have implemented performance-focused actions and will continue pursuing initiatives to drive value for all stakeholders.”
Fourth Quarter and Fiscal Year 2024 Earnings Conference Call and Webcast
Quest will conduct a conference call Wednesday, March 12, 2025, at 5:00 PM ET, to review the financial results for the fourth quarter and year ended December 31, 2024. Investors interested in participating on the live call can dial 1-800-717-1738 or 1-646-307-1865. 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/investors. A replay of the webcast will be archived on Quest’s investor relations website for 90 days.
About Quest Resource Holding Corporation
Quest is a national provider of waste and recycling services that enable 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, client-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 clients to excel in their business and sustainability responsibilities. For more information, visit www.qrhc.com.
Reconciliation of U.S. GAAP to Non-GAAP Financial Measures
In this press release, non-GAAP financial measures, "Adjusted EBITDA," and “Adjusted Net Income (Loss)” are presented. From time-to-time, Quest considers and uses these 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 these non-GAAP measures because it considers them an important supplemental measure of Quest's performance. Quest’s definition of these adjusted financial measures may differ from similarly named measures used by others. Quest believes these measures facilitate 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. These non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for the Company's GAAP measures. (See attached tables “Reconciliation of Net Loss to Adjusted EBITDA” and “Adjusted Net Income (Loss) Per Share”).
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 expectation that we will continue to deepen client relationships, add valuable services and solutions, and invest in our business and people, resulting in long-term, continuously expanding client relationships; and our belief that the implementation of a reduction of headcount by
Investor Relations Contact:
Three Part Advisors, LLC
Joe Noyons
817.778.8424
| Financial Tables Follow |
| Quest Resource Holding Corporation and Subsidiaries STATEMENTS OF OPERATIONS (In thousands, except per share amounts) | ||||||||||||||||||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||||||||||||||||||
| December 31, | December 31, | |||||||||||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||
| Revenue | $ | 69,970 | $ | 69,342 | $ | 288,532 | $ | 288,378 | ||||||||||||||||||||||||
| Cost of revenue | 59,243 | 57,842 | 238,537 | 238,313 | ||||||||||||||||||||||||||||
| Gross profit | 10,727 | 11,500 | 49,995 | 50,065 | ||||||||||||||||||||||||||||
| Selling, general, and administrative | 10,086 | 9,419 | 39,543 | 37,669 | ||||||||||||||||||||||||||||
| Depreciation and amortization | 2,307 | 2,352 | 9,401 | 9,571 | ||||||||||||||||||||||||||||
| Impairment loss | 5,511 | — | 5,511 | — | ||||||||||||||||||||||||||||
| Total operating expenses | 17,904 | 11,771 | 54,455 | 47,240 | ||||||||||||||||||||||||||||
| Operating income (loss) | (7,177 | ) | (271 | ) | (4,460 | ) | 2,825 | |||||||||||||||||||||||||
| Interest expense | (2,505 | ) | (2,322 | ) | (10,312 | ) | (9,729 | ) | ||||||||||||||||||||||||
| Loss before taxes | (9,682 | ) | (2,593 | ) | (14,772 | ) | (6,904 | ) | ||||||||||||||||||||||||
| Income tax expense (benefit) | (174 | ) | (263 | ) | 291 | 387 | ||||||||||||||||||||||||||
| Net loss | $ | (9,508 | ) | $ | (2,330 | ) | $ | (15,063 | ) | $ | (7,291 | ) | ||||||||||||||||||||
| Net loss applicable to common stockholders | $ | (9,508 | ) | $ | (2,330 | ) | $ | (15,063 | ) | $ | (7,291 | ) | ||||||||||||||||||||
| Net loss per common share: | ||||||||||||||||||||||||||||||||
| Basic | $ | (0.46 | ) | $ | (0.11 | ) | $ | (0.73 | ) | $ | (0.36 | ) | ||||||||||||||||||||
| Diluted | $ | (0.46 | ) | $ | (0.11 | ) | $ | (0.73 | ) | $ | (0.36 | ) | ||||||||||||||||||||
| Weighted average number of common shares outstanding: | ||||||||||||||||||||||||||||||||
| Basic | 20,837 | 20,264 | 20,617 | 20,123 | ||||||||||||||||||||||||||||
| Diluted | 20,837 | 20,264 | 20,617 | 20,123 | ||||||||||||||||||||||||||||
| RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (Unaudited) (In thousands) | |||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net loss | $ | (9,508 | ) | $ | (2,330 | ) | $ | (15,063 | ) | $ | (7,291 | ) | |||
| Depreciation and amortization | 2,558 | 2,462 | 10,272 | 9,948 | |||||||||||
| Interest expense | 2,505 | 2,322 | 10,312 | 9,729 | |||||||||||
| Stock-based compensation expense | 272 | 362 | 1,563 | 1,312 | |||||||||||
| Acquisition, integration, and related costs | 21 | 598 | 112 | 1,624 | |||||||||||
| Impairment loss | 5,511 | — | 5,511 | — | |||||||||||
| Other adjustments | 491 | 329 | 1,471 | 501 | |||||||||||
| Income tax expense (benefit) | (174 | ) | (263 | ) | 291 | 387 | |||||||||
| Adjusted EBITDA | $ | 1,676 | $ | 3,480 | $ | 14,469 | $ | 16,210 | |||||||
| ADJUSTED NET INCOME (LOSS) PER SHARE (Unaudited) (In thousands) | |||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Reported net loss(1) | $ | (9,508 | ) | $ | (2,330 | ) | $ | (15,063 | ) | $ | (7,291 | ) | |||
| Amortization of intangibles(2) | 2,137 | 2,196 | 8,787 | 8,864 | |||||||||||
| Acquisition, integration, and related costs(3) | 21 | 598 | 112 | 1,624 | |||||||||||
| Impairment loss | 5,511 | — | 5,511 | — | |||||||||||
| Other adjustments(4) | — | 280 | — | 205 | |||||||||||
| Adjusted net income (loss) | $ | (1,839 | ) | $ | 744 | $ | (653 | ) | $ | 3,402 | |||||
| Diluted earnings (loss) per share: | |||||||||||||||
| Reported net loss | $ | (0.46 | ) | $ | (0.11 | ) | $ | (0.73 | ) | $ | (0.36 | ) | |||
| Adjusted net income (loss) | $ | (0.09 | ) | $ | 0.03 | $ | (0.03 | ) | $ | 0.15 | |||||
| Weighted average number of common shares outstanding: Diluted(5) | 20,837 | 22,502 | 20,617 | 22,362 | |||||||||||
| (1) Applicable to common stockholders (2) Reflects the elimination of non-cash amortization of acquisition-related intangible assets (3) Reflects the add back of acquisition/integration related transaction costs (4) Reflects adjustments to earn-out fair value (5) Reflects adjustment for dilution when adjusted net income is positive | |||||||||||||||
| BALANCE SHEETS (In thousands, except per share amounts) | |||||||
| December 31, | December 31, | ||||||
| 2024 | 2023 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 396 | $ | 324 | |||
| Accounts receivable, less allowance for doubtful accounts of and | 62,252 | 58,147 | |||||
| Prepaid expenses and other current assets | 2,601 | 2,142 | |||||
| Assets held for sale | 9,890 | — | |||||
| Total current assets | 75,139 | 60,613 | |||||
| Goodwill | 81,065 | 85,828 | |||||
| Intangible assets, net | 12,946 | 26,052 | |||||
| Property and equipment, net, and other assets | 6,495 | 4,626 | |||||
| Total assets | $ | 175,645 | $ | 177,119 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable and accrued liabilities | $ | 39,899 | $ | 41,296 | |||
| Other current liabilities | 1,001 | 2,470 | |||||
| Current portion of notes payable | 1,651 | 1,159 | |||||
| Liabilities held for sale | 1,840 | — | |||||
| Total current liabilities | 44,391 | 44,925 | |||||
| Notes payable, net | 76,265 | 64,638 | |||||
| Other long-term liabilities | 833 | 1,275 | |||||
| Total liabilities | 121,489 | 110,838 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ equity: | |||||||
| Preferred stock, shares issued or outstanding as of December 31, 2024 and 2023 | — | — | |||||
| Common stock, 20,606 and 20,161 shares issued and outstanding as of December 31, 2024 and 2023, respectively | 21 | 20 | |||||
| Additional paid-in capital | 179,246 | 176,309 | |||||
| Accumulated deficit | (125,111 | ) | (110,048 | ) | |||
| Total stockholders’ equity | 54,156 | 66,281 | |||||
| Total liabilities and stockholders’ equity | $ | 175,645 | $ | 177,119 | |||
FAQ
What were Quest Resource Holding's (QRHC) key financial metrics for Q4 2024?
How much will QRHC save from its recent debt refinancing?
What cost-saving measures is QRHC implementing in 2025?
How many new customers did QRHC add in 2024?
What was the impact of the RWS mall business impairment on QRHC's Q4 results?
