Arq Q4 2023 net income $3.3M, revenue $28.1M (+20% YoY), first profitable quarter since Q4 2021

Arq, Inc.

Q4 revenue $28.1M (+20% YoY) driven by higher prices, mix, and $4.7M take-or-pay; net income $3.3M vs loss a year ago.
Gross margin improved to 50%; Adjusted EBITDA $7.2M, second consecutive positive quarter (Q3: $0.9M).
Ended 2023 with cash & restricted cash $54.2M; FY2024 capex forecast $55-60M, Red River Phase 1 ~$45-50M.
Granular Activated Carbon (GAC) growth business remains on schedule for commissioning by Q4 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Arq, Inc. reported fourth quarter and year ended December 31, 2023 results: revenue $28.1 million, net income $3.3 million.

Period: fourth quarter and year ended December 31, 2023
Revenue: $28.1 million
Net income: $3.3 million
Result: reported results

Exact text from the filing

31, 2023. Financial Highlights • Achieved positive net income of $3.3 million in Q4 2023, reflecting the first positive net income quarter since Q4 2021. • Increased revenue to $28.1 million in Q4 2023, reflecting growth of 20% over the prior year period, driven by higher average selling prices, positive changes in product mix and $4.7 million of take-or-pay revenue,

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Source: SEC EDGAR

accession 0001515156-24-000037

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