Quest Resource Q1 revenue down 2% to $72.7M; gross profit up 11%, adj. EBITDA $5.1M

Quest Resource Holding Corp

2024-Q1 EPS reported -$0.03 revenue$72,651,321

Revenue $72.7M (-2% YoY); gross profit $14.0M (+11.1%); gross margin 19.3% vs 17.0%.
GAAP net loss $(0.03)/share vs $(0.10); adjusted net income $0.08/diluted share vs $0.03.
Adjusted EBITDA $5.1M (+28.4%), third time over $5.0M.
Record new client wins; two large clients expected to deliver eight-figure annual revenue.
Extended credit facility maturities; introduced AI-driven AP processing module.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Quest Resource Holding Corp reported the first quarter ended March 31, 2024 results: revenue $72.7 million, net income $(0.03) per share, EPS $(0.03).

Period: the first quarter ended March 31, 2024
Revenue: $72.7 million
Net income: $(0.03) per share
EPS: $(0.03)
Result: reported results

Exact text from the filing

Quest Resource Holding Corporation (Nasdaq: QRHC) (“Quest”), a national leader in environmental waste and recycling services, today announced financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights : • Revenue was $72.7 million, a 2.0% decrease compared with the first quarter of 2023. • Gross profit was $14.0 million, a 11.1% increase compared with the first quarter of 2023. • Gross margin was 19.3% of revenue, compared with 17.0% during the first quarter of 2023. • GAAP net loss per basic and diluted share attributable to common stockholders was $(0.03), compared with $(0.10) per share during the first quarter of 2023.

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Source: SEC EDGAR

accession 0000950170-24-056829

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