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.

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