Quest Resource Holding Corporation reported a revenue of $250.2 million for the fiscal year ending December 31, 2025, marking a decrease of 13.3% from the previous year's revenue of $288.5 million. The decline was primarily attributed to reduced waste volumes from certain industrial clients, which accounted for a revenue drop of approximately $31.4 million. Additionally, the divestiture of an underperforming business operation in early 2025 contributed to a further revenue decrease of about $14.3 million. Despite these challenges, the company experienced incremental growth from new clients and existing client expansions, which collectively added approximately $7.0 million in revenue.
The company's gross profit also saw a decline, falling to $42.5 million from $50.0 million in 2024, resulting in a gross profit margin of 17.0%, slightly down from 17.3% the previous year. This reduction in gross profit was influenced by the same factors affecting revenue, including client attrition and lower volumes in the industrial sector. Operating expenses decreased to $48.7 million from $54.5 million, driven by cost-saving initiatives, including a reduction in headcount and lower professional fees. However, the company recorded a loss on the sale of assets amounting to $4.1 million and an impairment loss of $1.7 million, contributing to a net loss of $15.4 million for 2025, compared to a net loss of $15.1 million in 2024.
In terms of operational metrics, Quest Resource Holding Corporation employed 195 full-time staff as of December 31, 2025, maintaining a stable workforce. The company continues to focus on expanding its customer base and service offerings, particularly in sectors that generate diverse waste streams. The strategic direction includes leveraging technology to enhance operational efficiency and reduce costs, as well as pursuing an "asset-light" model that relies on third-party vendors for service delivery.
Looking ahead, Quest Resource Holding Corporation aims to capitalize on the growing demand for recycling and waste management services, driven by regulatory pressures and increasing environmental awareness. The company plans to broaden its service offerings and expand into new customer verticals, while also emphasizing the cost and compliance benefits of recycling. Despite the challenges faced in 2025, the company believes its existing cash reserves, borrowing capacity, and anticipated operational cash flow will be sufficient to support its operations and growth initiatives over the next 12 months.
About Quest Resource Holding Corp
Quest Resource Holding Corporation provides comprehensive waste and recycling services to large, multi-location businesses across various industries. Its offerings include collection, processing, recycling, disposal, and data reporting for diverse waste streams such as metals, paper, organics, and regulated materials. The company leverages an asset-light model, strategic acquisitions, and advanced technologies to deliver cost-effective, environmentally sustainable solutions on a national scale.
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