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Quest Resource Holding Corporation (QRHC-28.57%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenue of $288.5 million for 2024, a slight increase from $288.4 million in 2023. The company attributes this to new customer additions and strong demand, offset by lower volumes from lost customers.
Cost of revenue rose marginally to $238.5 million from $238.3 million the previous year, with gross profit decreasing slightly to $50.0 million from $50.1 million.
Operating expenses increased to $54.5 million from $47.2 million in 2023, including a $5.5 million impairment charge related to assets held for sale.
Interest expense increased to $10.3 million from $9.7 million, primarily due to higher borrowings under credit facilities.
The company reported a net loss of $15.1 million for 2024, compared to a net loss of $7.3 million in the previous year.
Cash flows from operating activities resulted in a net cash outflow of $6.1 million, compared to a $1.4 million outflow in the previous year.
Quest Resource Holding Corporation continues to focus on expanding its customer base and enhancing service offerings, despite economic uncertainties and geopolitical tensions affecting global markets.
The company maintains a working capital of $30.7 million and has access to a $45.0 million credit facility to support its operations.
Quest Resource Holding Corporation's management has identified certain assets and liabilities as held for sale, with an impairment charge recognized due to fair value adjustments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Quest Resource Holding Corporation annual 10-K report dated March 12, 2025. To report an error, please email earnings@qz.com.