Revenue: As of FY2026 Q1, the actual value is USD 61.74 M, missing the estimate of USD 62.2 M.

EPS: As of FY2026 Q1, the actual value is USD -0.11.

EBIT: As of FY2026 Q1, the actual value is USD 2.292 M.

Revenue

Quest Resource Holding Corporation reported revenue of $61.7 million for the first quarter of 2026, which is a 9.8% decrease compared to $68.43 million in the first quarter of 2025, but a 4.8% increase from the fourth quarter of 2025.

Gross Profit and Margin

Gross profit for Q1 2026 was $9.7 million, an 11.6% decrease from $10.931 million in Q1 2025, yet a 6.1% increase from Q4 2025. The gross margin was 15.7% of revenue in Q1 2026, compared to 16.0% in Q1 2025 and 15.5% in Q4 2025.

Net Loss

Quest Resource Holding Corporation’s GAAP net loss was - $2.318 million in Q1 2026, a significant improvement from the - $10.406 million net loss in Q1 2025. The Q1 2025 net loss included a - $4.43 million loss on the sale of assets and a - $1.707 million impairment loss. The net loss in Q4 2025 was - $1.7 million.

Adjusted EBITDA

Adjusted EBITDA for Q1 2026 increased to $1.792 million, up from $1.555 million in Q1 2025, but lower than the $2.1 million reported in Q4 2025.

Operating Expenses

Selling, general, and administrative (SG&A) expenses decreased by approximately 26% to $8.389 million in Q1 2026 compared to $11.412 million in Q1 2025. Total operating expenses were $9.423 million in Q1 2026, down from $19.092 million in Q1 2025. Depreciation and amortization was $1.208 million in Q1 2026, compared to $1.746 million in Q1 2025.

Operating Income (Loss)

Operating income was $0.242 million in Q1 2026, a substantial improvement from an operating loss of - $8.161 million in Q1 2025.

Interest Expense and Debt

Interest expense was - $2.05 million in Q1 2026, compared to - $2.267 million in Q1 2025. The company incurred a loss on extinguishment of debt of - $0.488 million in Q1 2026. Quest Resource Holding Corporation utilized its refinanced ABL credit facility to pay down $2.0 million of higher-rate term debt, which is expected to reduce future interest expense.

Balance Sheet Highlights

Cash and cash equivalents were $1.139 million as of March 31, 2026, an increase from $1.014 million on December 31, 2025. Accounts receivable increased to $52.055 million from $49.01 million over the same period. Total current liabilities increased to $42.511 million as of March 31, 2026, from $39.527 million as of December 31, 2025. Notes payable, net, decreased slightly from $63.999 million to $63.414 million.

Operational Highlights

Quest Resource Holding Corporation successfully onboarded new customer wins and expanded wallet share with existing customers, which fully contributed to the financial results by the end of Q1 2026. A new contract was signed in April with a large quick-service restaurant franchisee, which launched in May.

Outlook / Guidance

Management anticipates executing similar voluntary debt paydowns in the future as macroeconomic conditions improve and provide greater visibility. These measures, combined with a focus on continuous improvement, are expected to enhance the cash cycle, strengthen the balance sheet, and offer increased financial flexibility as the operating environment improves.