10-Q Filing

Quest Resource Holding Corp CIK: 1442236 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000950170-22-010083`
Period End Date	20220331
Filing Date	20220516
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	qrhc-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 32 Cash Flow Statement 56 Stockholders Equity 13

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.05M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$840.52K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.43M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $1,054,365 and $840,522 as of March 31, 2022 and December 31, 2021, respectively	`AccountsReceivableNetCurrent`	$46.56M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $1,054,365 and $840,522 as of March 31, 2022 and December 31, 2021, respectively	`AccountsReceivableNetCurrent`	$39.95M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.01M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.95M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$50.33M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$56.49M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Goodwill	`Goodwill`	$81.16M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Goodwill	`Goodwill`	$80.62M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.05M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.05M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$39.12M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$39.72M	USD	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$5.60M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.05M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.05M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$5.39M	USD	Point-in-time
Total assets	`Assets`	$182.77M	USD	Point-in-time
Total assets	`Assets`	$175.67M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$34.86M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$30.20M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$6.20M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$7.05M	USD	Point-in-time
Current portion of notes payable	`NotesPayableCurrent`	$1.33M	USD	Point-in-time
Current portion of notes payable	`NotesPayableCurrent`	$1.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.72M	USD	Point-in-time
Notes payable, net	`LongTermNotesPayable`	$65.72M	USD	Point-in-time
Notes payable, net	`LongTermNotesPayable`	$62.41M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.80M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$111.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$102.04M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of March 31, 2022 and December 31, 2021	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of March 31, 2022 and December 31, 2021	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 19,045,988 shares issued and outstanding as of March 31, 2022 and December 31, 2021	`CommonStockValue`	$19.05K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 19,045,988 shares issued and outstanding as of March 31, 2022 and December 31, 2021	`CommonStockValue`	$19.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$170.32M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$170.58M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-98.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-96.71M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$73.63M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$68.04M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$71.70M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$69.75M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$175.67M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$182.77M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$71.52M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$35.10M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$28.66M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$60.27M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.44M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.26M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$9.34M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.36M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$407.28K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.71M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.67M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$1.77M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-460.91K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.56M	USD	1 Quarter
Interest expense	`InterestExpense`	$561.46K	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.02M	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.21M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$166.81K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$61.83K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.18M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.15M	USD	1 Quarter
Net income (loss) applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.15M	USD	1 Quarter
Net income (loss) applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.18M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.11	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	19.24M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.41M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.24M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-2.18M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.15M	USD	1 Quarter
Depreciation	`Depreciation`	$173.57K	USD	1 Quarter
Depreciation	`Depreciation`	$110.14K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$365.52K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$2.26M	USD	1 Quarter
Amortization of debt issuance costs and discounts	`AmortizationOfFinancingCostsAndDiscounts`	$211.62K	USD	1 Quarter
Amortization of debt issuance costs and discounts	`AmortizationOfFinancingCostsAndDiscounts`	$324.78K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$261.97K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$34.49K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$309.61K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$258.64K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.70M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.34M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$114.96K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$53.29K	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$860.00	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-124.28K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.04M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.42M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$191.04K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$718.68K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-391.56K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.95M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$261.42K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$115.89K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$61.58K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$42.73K	USD	1 Quarter
Acquisition, net of cash acquired	`PaymentsToAcquireBusinessesGross`	$3.14M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-158.61K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.46M	USD	1 Quarter
Proceeds from credit facilities	`ProceedsFromLinesOfCredit`	$15.15M	USD	1 Quarter
Proceeds from credit facilities	`ProceedsFromLinesOfCredit`	$13.36M	USD	1 Quarter
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$15.20M	USD	1 Quarter
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$14.04M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$3.50M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$135.54K	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$60.00K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$253.39K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$45.80K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.35M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-557.28K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.24M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-506.27K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.92M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.43M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.75M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.52M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.92M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.43M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.75M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.52M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$353.96K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$1.14M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$4.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$29.51K	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$73.63M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$68.04M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$71.70M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$69.75M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$258.64K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$309.61K	USD	1 Quarter
Stock option and warrant exercises	`StockIssuedDuringPeriodValueStockOptionsAndWarrantExercised`	$253.39K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.18M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.15M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$73.63M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$68.04M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$71.70M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$69.75M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.