Arq reports record $120M revenue but $52.6M net loss; $45M impairment on Corbin; pauses GAC

Arq, Inc.

FY 2025 revenue $120.3M (+10% YoY); Q4 revenue $29.4M.
FY 2025 net loss $52.6M vs $5.1M loss in FY 2024; non-cash impairment charge of $45M related to Corbin assets.
Adjusted EBITDA $13.2M in FY 2025 vs $10.5M prior year (26% improvement); Q4 Adjusted EBITDA $0.3M.
Pausing GAC production and development for comprehensive engineering and process optimization review.
Appointed industry veteran as VP Operations; provided inaugural financial guidance for full-year 2026.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Arq, Inc. reported the fiscal year ended December 31, 2025 results: revenue $120.3 million, net income Net loss of $52.6 million. Guidance initiated.

Period: the fiscal year ended December 31, 2025
Revenue: $120.3 million
Net income: Net loss of $52.6 million
Guidance: initiated
Result: reported results

Exact text from the filing

• Generated revenue of $120.3 million in FY 2025 ($29.4 million in Q4 2025), up 10% over the prior year, driven largely by positive changes in product mix and overall volumes • Gross margin of 27.9% in FY 2025 vs. 36.2% in FY 2024, driven by higher costs directly related to granular activated carbon (“GAC”) start-up costs • Gross margin in Q4 2025 of 13.6% vs. 36.3% in Q4 2024, reflecting negative impact of GAC start-up costs • Recorded non-cash impairment charge of $45 million related to Corbin assets in Q4 2025, reflecting the temporary idling of the Corbin facility. • Reported Net loss of $52.6 million in FY 2025, versus a Net loss of $5.1 million in FY 2024

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Arq, Inc. reported the fourth quarter ended December 31, 2025 results: revenue $29.4 million, net income Net loss of $50.0 million. Guidance initiated.

Period: the fourth quarter ended December 31, 2025
Revenue: $29.4 million
Net income: Net loss of $50.0 million
Guidance: initiated
Result: reported results

Exact text from the filing

• Generated revenue of $120.3 million in FY 2025 ($29.4 million in Q4 2025), up 10% over the prior year, driven largely by positive changes in product mix and overall volumes • Gross margin of 27.9% in FY 2025 vs. 36.2% in FY 2024, driven by higher costs directly related to granular activated carbon (“GAC”) start-up costs • Gross margin in Q4 2025 of 13.6% vs. 36.3% in Q4 2024, reflecting negative impact of GAC start-up costs • Recorded non-cash impairment charge of $45 million related to Corbin assets in Q4 2025, reflecting the temporary idling of the Corbin facility. • Reported Net loss of $52.6 million in FY 2025, versus a Net loss of $5.1 million in FY 2024; Q4 2025 Net loss of $50.0 million vs. Net loss of $1.3 million in Q4 2024

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Source: SEC EDGAR

accession 0001515156-26-000020

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