$QRHC
Quest Resource Holding Corp

2020 Q1 Form 10-Q Financial Statement

#000156459020025455 Filed on May 14, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $25.33M $26.65M
YoY Change -4.95% 7.91%
Cost Of Revenue $20.79M $22.11M
YoY Change -5.96% 4.53%
Gross Profit $4.540M $4.543M
YoY Change -0.06% 28.05%
Gross Profit Margin 17.92% 17.05%
Selling, General & Admin $4.410M $4.214M
YoY Change 4.65% 12.33%
% of Gross Profit 97.14% 92.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $350.0K $67.52K
YoY Change 418.4% -34.65%
% of Gross Profit 7.71% 1.49%
Operating Expenses $4.740M $4.540M
YoY Change 4.4% -4.15%
Operating Profit -$200.0K $2.828K
YoY Change -7172.14% -100.24%
Interest Expense -$80.00K $111.8K
YoY Change -171.55% -9.83%
% of Operating Profit 3953.71%
Other Income/Expense, Net
YoY Change
Pretax Income -$284.4K -$109.0K
YoY Change 160.96% -91.68%
Income Tax -$52.73K $54.77K
% Of Pretax Income
Net Earnings -$231.7K -$163.8K
YoY Change 41.47% -87.52%
Net Earnings / Revenue -0.91% -0.61%
Basic Earnings Per Share -$0.02 -$0.01
Diluted Earnings Per Share -$0.02 -$0.01
COMMON SHARES
Basic Shares Outstanding 15.40M 15.33M
Diluted Shares Outstanding 15.40M 15.33M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.300M $2.100M
YoY Change 57.14% 90.91%
Cash & Equivalents $3.300M $2.065M
Short-Term Investments
Other Short-Term Assets $1.400M $1.100M
YoY Change 27.27% -26.67%
Inventory
Prepaid Expenses
Receivables $15.20M $17.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $19.90M $20.90M
YoY Change -4.78% 5.56%
LONG-TERM ASSETS
Property, Plant & Equipment $512.0K $547.0K
YoY Change -6.4% -57.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $61.80M $63.50M
YoY Change -2.68% -0.16%
TOTAL ASSETS
Total Short-Term Assets $19.90M $20.90M
Total Long-Term Assets $61.80M $63.50M
Total Assets $81.70M $84.40M
YoY Change -3.2% 1.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.56M $14.39M
YoY Change -12.73% -9.08%
Accrued Expenses $1.700M $2.100M
YoY Change -19.05% 133.33%
Deferred Revenue $22.61K $50.27K
YoY Change -55.02% -64.7%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.40M $17.10M
YoY Change -15.79% -0.58%
LONG-TERM LIABILITIES
Long-Term Debt $4.600M $5.200M
YoY Change -11.54% 1.96%
Other Long-Term Liabilities $1.000M $1.600M
YoY Change -37.5%
Total Long-Term Liabilities $5.600M $6.800M
YoY Change -17.65% 33.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.40M $17.10M
Total Long-Term Liabilities $5.600M $6.800M
Total Liabilities $19.90M $23.90M
YoY Change -16.74% 7.17%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $61.79M $60.58M
YoY Change
Total Liabilities & Shareholders Equity $81.70M $84.40M
YoY Change -3.2% 1.2%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$231.7K -$163.8K
YoY Change 41.47% -87.52%
Depreciation, Depletion And Amortization $350.0K $67.52K
YoY Change 418.4% -34.65%
Cash From Operating Activities -$17.12K $45.84K
YoY Change -137.35% -97.44%
INVESTING ACTIVITIES
Capital Expenditures $27.74K -$40.00K
YoY Change -169.35% -527.03%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$38.94K -$41.25K
YoY Change -5.6% -31.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.133K -61.43K
YoY Change -91.64% -96.38%
NET CHANGE
Cash From Operating Activities -17.12K 45.84K
Cash From Investing Activities -38.94K -41.25K
Cash From Financing Activities -5.133K -61.43K
Net Change In Cash -61.20K -56.84K
YoY Change 7.67% -300.87%
FREE CASH FLOW
Cash From Operating Activities -$17.12K $45.84K
Capital Expenditures $27.74K -$40.00K
Free Cash Flow -$44.86K $85.84K
YoY Change -152.26% -95.17%

Facts In Submission

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CY2020Q1 us-gaap Nature Of Operations
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. The Company and Description of Business </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying condensed consolidated financial statements include the accounts of Quest Resource Holding Corporation (&#8220;QRHC&#8221;) and its subsidiaries, Quest Resource Management Group, LLC (&#8220;Quest&#8221;), Landfill Diversion Innovations, LLC (&#8220;LDI&#8221;), Youchange, Inc. (&#8220;Youchange&#8221;), Quest Vertigent Corporation (&#8220;QVC&#8221;), Quest Vertigent One, LLC (&#8220;QV One&#8221;), and Quest Sustainability Services, Inc. (&#8220;QSS&#8221;) (collectively, &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; or &#8220;our company&#8221;).&nbsp;&nbsp;</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Operations &#8211;<font style="font-style:normal;"> We are a national provider of waste and recycling services to customers from across multiple industry sectors that are typically larger, multi-location businesses.&nbsp;&nbsp;We create customer-specific programs and perform the related services for the collection, processing, recycling, disposal, and tracking of waste streams and recyclables.</font></p> <p style="text-align:justify;Background-color:#FFFFFF;margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#212529;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;">In March 2020, the World Health Organization categorized Coronavirus Disease 2019 (&#8220;COVID-19&#8221;) as a pandemic, and the President of the United States declared the COVID-19 outbreak a national emergency.&#160; </font><font style="color:#000000;">The waste management and recycling services we provide are currently designated an essential critical infrastructure business under the President&#8217;s </font><font style="Background-color:#FFFFFF;">COVID-19</font><font style="color:#000000;"> guidance, the continued operation of which is vital for national public health, safety and national economic security.&#160; The extent of the impact of the COVID-19 outbreak on our operational and financial performance will depend on certain developments, including the duration and spread of the outbreak, its impact on our customers and </font><font style="color:#000000;">subcontractors,</font><font style="color:#000000;"> and the range of governmental and community reactions to the pandemic, which are uncertain and cannot be fully predicted at this time.</font></p>
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Files In Submission

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