---
schema_version: "secwatch.filing_event.v1"
accession: "0001515156-23-000065"
form_type: "8-K"
ticker: "ARQ"
cik: "0001515156"
company_name: "Arq, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T08:57:57.750679+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ADES Q1 revenue $20.8M, net loss $7.5M; completes Arq acquisition

## Summary
- Consumables revenue $20.8M (-21% YoY) due to low natural gas pressuring power generation customers.
- Net loss $7.5M ($0.32/diluted share) vs loss $3.0M ($0.17) prior year; Adjusted EBITDA loss $7.7M.
- Completed acquisition of Arq Limited subsidiaries (previously announced Feb 1); incurred $4.4M transaction/integration costs.
- Sold Marshall Mine in March, eliminating asset retirement obligation and releasing restricted cash.
- 2023 capex guidance $40-45M for GAC production expansion and plant turnaround.

## SEC filing metadata
- accession: 0001515156-23-000065
- form_type: 8-K
- ticker: ARQ
- cik: 0001515156
- company_name: Arq, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1515156/000151515623000065/0001515156-23-000065-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1515156/000151515623000065/ades-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001515156-23-000065
- JSON: https://secwatch.observer/filing/0001515156-23-000065.json
- Plain text: https://secwatch.observer/filing/0001515156-23-000065.txt

## Key facts
- Earnings Releases
  Arq, Inc. reported the quarter ended March 31, 2023 results: revenue $20.8 million, net income $7.5 million, EPS $0.32 per diluted share.
  - Period: the quarter ended March 31, 2023
  - Revenue: $20.8 million
  - Net income: $7.5 million
  - EPS: $0.32 per diluted share
  - Result: reported results
  source text: obligation for Marshall Mine and will result in the release of a portion of the Company’s restricted cash balance. Financial Highlights • First quarter consumables revenue was $20.8 million compared to $26.4 million in the prior year. • First quarter net loss was $7.5 million compared to net loss of $3.0 million in the prior year. • First quarter Adjusted EBITDA
  evidence_url: https://www.sec.gov/Archives/edgar/data/1515156/000151515623000065/0001515156-23-000065-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.