Quest Resource Holding reported second-quarter revenue of $64.1 million, an 8% increase from a year ago, driven by volume improvements from industrial clients and new business wins. Gross profit declined 5.5% to $10.4 million, with gross margin falling to 16.3% from 18.5% a year earlier due to margin pressure with select industrial clients. The company posted a GAAP net loss of $12.2 million, including an $11 million non-cash goodwill impairment charge, compared with a $2 million net loss in the prior-year period. Adjusted EBITDA rose to $2.8 million from $2.7 million a year ago, and operating cash flow was $4.5 million, supporting a $2 million voluntary early payment on term debt. Management expects another quarter of sequential revenue growth in the third quarter and anticipates gross margins to be flat to slightly up as industrial volumes ramp.
Quest Resource Holding CorpRevenue up 8% but gross margin fell and net loss widened due to impairment; mixed results.
