Quarterly ResultMay 8, 2026, 06:07 AM
Quest Resource Q1 Net Loss Narrows to $2.32M; Refinances Debt
AI Summary
Quest Resource Holding Corp reported a significant narrowing of its net loss to $2.32 million, or $(0.11) per share, in the first quarter of 2026, compared to a $10.41 million loss, or $(0.50) per share, in the prior year. This improvement occurred despite a 9.8% decrease in revenue to $61.74 million. The company also completed a major debt refinancing, securing a new $40.0 million asset-based revolving credit facility with Texas Capital Bank, which replaced its previous facility with PNC Bank, resulting in a $488 thousand loss on debt extinguishment. Additionally, the Monroe Term Loan was amended, introducing a minimum $2.0 million exit fee.
Key Highlights
- Net loss narrowed to $2.32 million in Q1 2026 from $10.41 million in Q1 2025.
- Revenue decreased 9.8% to $61.74 million in Q1 2026 from $68.43 million in Q1 2025.
- Basic and diluted net loss per share improved to $(0.11) from $(0.50) year-over-year.
- Secured a new $40.0 million TCB ABL Facility, replacing the previous PNC facility.
- Recorded a $488 thousand loss on extinguishment of debt from the PNC facility termination.
- Monroe Term Loan amended, including a new minimum $2.0 million exit fee.
- Operating income improved to $242 thousand in Q1 2026 from an $8.16 million loss.
- Cash and cash equivalents increased to $1.14 million as of March 31, 2026.