Arq Inc SEC Filings

Arq, Inc. reported first quarter 2026 revenue of $29.1 million, up about 7% from $27.2 million a year earlier, mainly from higher sales volumes. Gross margin declined to 34.2% from 36.4% as pricing pressure, an inventory revaluation charge and GAC carry-costs outweighed volume gains.

The company posted a net loss of $0.8 million, or $0.02 per diluted share, versus net income of $0.2 million in the prior-year period. Adjusted EBITDA was $2.7 million compared with $4.1 million, reflecting lower margins and the non-cash inventory revaluation. Arq ended the quarter with $15.9 million in cash and restricted cash, including $11.2 million restricted, and total debt of $30.2 million.

Management reaffirmed full-year 2026 guidance for revenue of $120–$125 million and Adjusted EBITDA of $17–$20 million. The ongoing GAC strategic optimization review is expected to yield a go-forward strategy by Q3 2026, while the PAC business and Corbin asphalt opportunities continue to progress.

Arq, Inc. reported first-quarter 2026 revenue of $29.1 million, up from $27.2 million a year earlier, but swung to a net loss of $0.8 million versus net income of $0.2 million. Higher sales volumes were offset by weaker pricing, more lower‑margin chemical sales and GAC-related costs.

Cost of revenue rose to $19.1 million, compressing gross margin. Adjusted EBITDA declined to $2.7 million from $4.1 million. Arq paused GAC production and continues to idle its Corbin Facility while an engineering and economics review is completed, and now does not expect any GAC production in 2026.

At March 31, 2026, Arq held $4.7 million of cash plus $11.2 million of restricted cash, with total debt of about $30.2 million, including $20.9 million drawn on its Revolving Credit Facility. Operating cash flow was slightly positive at $0.1 million, and management believes cash and credit availability can fund operations for the next 12 months.

Arq, Inc. detailed separation arrangements for former executives Jeremy “Deke” Williamson and Jay Voncannon. Effective April 29, 2026, Williamson will receive approximately $361,500, equal to twelve months of base salary, paid bi-weekly, plus accelerated vesting of 34,270 restricted shares and 49,736 performance share units, subject to a total shareholder return calculation within sixty days, and a lump-sum payment equal to twelve months of COBRA premiums. Voncannon will receive statutory COBRA benefits for eighteen months and accelerated vesting of 50,000 restricted shares. Both executives agreed to customary releases of claims under their Separation and General Release Agreements.

Arq, Inc. is calling a virtual 2026 annual stockholder meeting on June 10, 2026 to vote on six items, including electing six directors, an advisory vote on executive pay, ratifying Baker Tilly US, LLP as auditor for 2026, approving a 2026 Omnibus Incentive Plan, and approving the Ninth Amendment to the Company’s Tax Asset Protection Plan.

Stockholders of record on April 14, 2026, when 42,876,258 shares of common stock were outstanding, may vote online, by phone, mail, or during the webcast. The Board is majority independent, with separate Chair and CEO roles, and active Audit, Compensation, and Nominating and Governance Committees overseeing risk, cybersecurity, and sustainability.

For 2025, CEO Robert Rasmus reported total compensation of $142,979, while other named executives received a mix of salary, restricted stock, and performance share units tied to total shareholder return versus a defined peer group. Short‑term incentive metrics reached about 12.72% of target, so no STIP payouts were approved for 2025.

Arq, Inc. Amendment No. 3 to a Schedule 13G/A was filed reporting joint filing by AIGH Capital Management LLC, AIGH Investment Partners LLC and Orin Hirschman. The filing states the Amount beneficially owned is 0 shares and the Percent of class is 0, and that the holders each own 5% or less of the class.

Arq, Inc. is soliciting proxies for its 2026 Annual Meeting of Stockholders to be held virtually at 9:00 a.m. (MT) on June 10, 2026. Stockholders of record as of April 14, 2026 may vote. Matters to be voted on include election of six directors, advisory approval of executive compensation, ratification of Baker Tilly US, LLP as the independent registered public accounting firm, approval of the 2026 Omnibus Incentive Plan, and approval of the Ninth Amendment to the Company’s Tax Asset Protection Plan. The Board set a quorum at one-third of shares outstanding and will elect directors under a plurality standard. Proxy materials are being made available beginning on or about April [ ], 2026, and stockholders may attend and vote via the virtual meeting site with a 16‑digit control number.

Arq, Inc. reported that it entered into a Ninth Amendment to its Tax Asset Protection Plan with Computershare Trust Company, N.A. as rights agent. The amendment updates the definition of the plan’s “Final Expiration Date.”

Under the Ninth Amendment, the Final Expiration Date will be the close of business on the earlier of December 31, 2027, or December 31, 2026 if stockholder approval has not been obtained before that date. The amendment and its terms are set out in full in Exhibit 4.1 to the report.

Arq, Inc. amended its revolving credit facility again on March 31, 2026, entering a fifth amendment to its Credit, Security and Guaranty Agreement with MidCap Funding IV Trust and other lenders. This amendment replaces the existing minimum liquidity covenant with a $2.5 million availability reserve requirement, which will rise to $5 million starting in January 2027.

The amendment also allows certain eligible equipment and defined Rolling Stock to be counted in the borrowing availability calculation and temporarily relaxes the definition of Eligible Accounts to permit higher single-customer concentration until August 2026. The full amendment text is referenced as Exhibit 10.1.