Arq Q3 2025 revenue $35.1M (+1% YoY); adj. EBITDA $5.2M (6th consecutive positive)

Arq, Inc.

2025-Q3 EPS reported -$0.06 revenue$90,905,000

Revenue of $35.1M, up 1% YoY; average selling price increased 7% year-over-year.
Adjusted EBITDA of $5.2M, sixth consecutive positive quarter; net loss improved to $0.7M.
Gross margin 28.8% vs 38.6% a year ago, driven by initial GAC production ramp costs.
Achieved initial commercial-phase Granular Activated Carbon (GAC) production and sales.
Full-year 2025 capex guidance unchanged at $8-12M; cash & restricted cash $15.5M at quarter end.

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