Arq, Inc.

Listed Company

ARQCIK 0001515156NasdaqAcceleratedSmaller ReportingMiscellaneous Chemical ProductsFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-52.61M

Total Assets

$230.58M

Equity

$167.96M

Shares Out

42.85M

Op. Cash Flow

$-2.73M

Business

Arq, Inc. is an environmental technology company that manufactures and sells activated carbon-based consumable solutions to reduce contaminants in air, water and soil. It offers powdered activated carbon (PAC), granular activated carbon (GAC), colloidal carbon products (CCP) and other chemical consumables, and owns feedstock sources including the Five Forks lignite mine and the Corbin Facility producing Arq Powder. The company serves advanced purification technologies (APT) markets including coal-fired power, industrial, water treatment and remediation. Sales are primarily direct through its internal sales organization under multi-year customer contracts across North America and select international markets.

Summary from filing dated 2025-03-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	120	109	99	103	100
Cost of revenue, exclusive of depreciation and amortization	87	70	67	—	—
Selling, general and administrative	23	29	34	—	—
Research and development	7	4	3	—	—
Depreciation, amortization, depletion and accretion	12	9	11	6	8
Impairment of long-lived assets	45	0	—	—	—
Loss on sale of assets	96,000	64,000	−3	—	—
Total operating expenses	86	41	45	115	95
Operating loss	−53	−2	−13	−12	5
Earnings from equity method investment	2	127,000	2	4	69
Interest expense	−2	−3	−3	—	—
Loss on extinguishment of debt	0	−1	0	0	3
Other income	858,000	1	3	155,000	640,000
Total other income (expense)	360,000	−3	1	3	71
Loss before income taxes	−53	−5	−12	−9	76
Income tax expense (benefit)	12,000	−164,000	153,000	209,000	16
Net loss	−53	−5	−12	−9	60
Basic (in dollars per share)	−1.27	−0.14	−0.42	−0.48	3.31
Diluted (in dollars per share)	−1.27	−0.14	−0.42	−0.48	3.27
Basic (in shares)	42	36	29	18	18
Diluted (in shares)	42	36	29	18	18

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	7	14	45	66	79
Receivables, net	15	15	16	14	13
Inventories, net	16	19	20	18	8
Prepaid expenses and other current assets	6	5	5	8	7
Total current assets	44	52	86	106	108
Restricted cash, long-term	8	9	9	10	10
Property, plant and equipment, net of accumulated depreciation of $28,375 and $26,619, respectively	143	179	95	35	30
Other long-term assets, net	35	45	46	31	37
Total Assets	231	284	236	181	185
Accounts payable and accrued expenses	15	21	15	16	16
Revolving credit facility	19	14	0	—	—
Current portion of long-term debt obligations	1	2	3	1	1
Other current liabilities	7	8	6	7	5
Total current liabilities	42	45	23	24	23
Long-term debt obligations, net of current portion	8	9	18	3	—
Other long-term liabilities	12	13	16	14	12
Total Liabilities	63	67	57	41	38
Commitments and contingencies (Note 8)	—	—	—	—	—
Preferred stock: par value of $0.001 per share, 50,000,000 shares authorized, none issued or outstanding	0	0	0	0	0
Common stock: par value of $0.001 per share, 100,000,000 shares authorized, 47,348,394 and 46,639,930 shares issued, and 42,730,248 and 42,021,784 shares outstanding at December 31, 2025 and 2024, respectively	47,000	47,000	38,000	24,000	23,000
Treasury stock, at cost: 4,618,146 and 4,618,146 shares as of December 31, 2025 and 2024, respectively	−48	−48	−48	−48	—
Additional paid-in capital	202	198	155	104	102
Retained earnings	14	66	72	84	93
Total Stockholders Equity	168	217	178	140	147
Total Liabilities and Stockholders Equity	231	284	236	181	185

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, amortization, depletion and accretion	12	9	11	6	8
Stock-based compensation expense	3	3	3	2	2
Operating lease expense	2	2	3	3	2
Amortization of debt discount and debt issuance costs	359,000	601,000	546,000	0	945,000
Other non-cash items, net	−678,000	37,000	−75,000	530,000	−209,000
Receivables	−104,000	1	—	—	—
Prepaid expenses and other assets	−2	1	5	−876,000	−2
Inventories	3	2	−3	−10	1
Other long-term assets, net	−4	−2	−5	245,000	−4
Accounts payable and accrued expenses	−7	216,000	−12	−911,000	5
Other current liabilities	−260,000	1	−184,000	1	−8
Operating lease liabilities	205,000	−1	—	—	—
Other long-term liabilities	−481,000	−2	764,000	−6,000	−3
Net cash (used in) provided by operating activities	−3	10	−17	−6	26
Acquisition of property, plant, equipment and intangible assets, net	−9	−85	−28	−9	−6
Acquisition of mine development costs	−531,000	−181,000	−3	—	—
Proceeds from insurance recovery related to property and equipment	685,000	0	—	—	—
Distributions from equity method investee in excess of cumulative earnings	251,000	127,000	2	4	51
Proceeds from sale of property and equipment	10,000	150,000	0	1	—
Net cash used in investing activities	−8	−85	−29	−5	44
Borrowings on revolving credit facility	129	14	—	—	—
Repayments of revolving credit facility	−124	0	—	—	—
Principal payments on notes payable	−914,000	−11	−473,000	0	—
Principal payments on finance lease obligations	−447,000	−1	−1	−1	−1
Repurchase of common stock to satisfy tax withholdings	−66,000	−1	−230,000	−388,000	−246,000
Net proceeds from common stock issued in private placement transactions	0	15	15	—	—
Payment of debt issuance costs	0	−633,000	0	—	—
Payment of debt extinguishment costs	0	−220,000	0	—	—
Net cash provided by financing activities	4	43	23	−2	−18
Decrease in Cash and Restricted Cash	−7	−32	−22	−12	53
Cash paid for interest	661,000	2	2	334,000	524,000
Cash received for income taxes	−27,000	−100,000	−2	—	—
Change in accrued purchases for property and equipment	949,000	6	914,000	532,000	183,000
Purchase of property and equipment through note payable	0	1	0	—	—

Filings

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