Quest Resource (QRHC) Q2 2026 earnings summary

Executive summary

• Revenue rose 7.6% year-over-year to $64.1 million and 3.8% sequentially from Q1 2026, driven by new customer wins and wallet share expansions.

• Gross profit declined 5.5% year-over-year to $10.4 million but increased 7.9% sequentially from Q1 2026.

• Adjusted EBITDA improved to $2.8 million, up from $2.7 million in Q2 2025 and $1.8 million in Q1 2026.

• GAAP net loss widened to $12.2 million, primarily due to a non-cash goodwill impairment of $11.0 million.

• Productivity initiatives led to an 11% reduction in SG&A expenses year-over-year.

Financial highlights

• Gross margin was 16.3%, down from 18.5% in Q2 2025 but up from 15.7% in Q1 2026.

• Net loss per share was $(0.57), compared to $(0.09) in Q2 2025 and $(0.11) in Q1 2026.

• Operating cash flow reached $4.5 million, supporting voluntary debt reduction.

Outlook and guidance

• Management expects continued improvement in financial results as operating conditions normalize and productivity initiatives continue.

• Sales pipeline remains healthy, with optimism for further growth.