10-Q Filing

Quest Resource Holding Corp CIK: 1442236 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-023770`
Period End Date	20170930
Filing Date	20171114
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	qrhc-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 56 Cash Flow Statement 64 Stockholders Equity 10

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$824.07K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$333.58K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.87M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $824,074 and $333,578 as of September 30, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$20.03M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $824,074 and $333,578 as of September 30, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$34.83M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.67M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.48M	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
Total current assets	`AssetsCurrent`	$38.83M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.63M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Goodwill	`Goodwill`	$58.34M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Goodwill	`Goodwill`	$58.34M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.28M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$8.49M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.27M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.91M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.28M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$2.41M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.27M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$1.58M	USD	Point-in-time
Total assets	`Assets`	$108.07M	USD	Point-in-time
Total assets	`Assets`	$88.46M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$17.82M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$35.31M	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$324.06K	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$406.06K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$35.71M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$4.75M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$6.73M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$335.64K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$43.55K	USD	Point-in-time
Total liabilities	`Liabilities`	$24.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$40.80M	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 September 30, 2017 and December 31, 2016, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of September 30, 2017 and December 31, 2016, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,281,324 and 15,272,575 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$15.28K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,281,324 and 15,272,575 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$15.27K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$158.68M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$158.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-90.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-95.16M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$67.27M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$63.54M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$88.46M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$108.07M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$31.93M	USD	1 Quarter
Revenue	`Revenues`	$115.84M	USD	3 Qtrs
Revenue	`Revenues`	$138.77M	USD	3 Qtrs
Revenue	`Revenues`	$46.16M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$27.90M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$103.18M	USD	3 Qtrs
Cost of revenue	`CostOfRevenue`	$42.56M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$128.04M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.74M	USD	3 Qtrs
Gross profit	`GrossProfit`	$12.66M	USD	3 Qtrs
Gross profit	`GrossProfit`	$3.60M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.92M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$3.98M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$13.54M	USD	3 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$14.22M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$3.00M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.01M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.04M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$16.54M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$5.94M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.98M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$17.26M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-6.52M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-2.34M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-953.80K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.88M	USD	3 Qtrs
Interest expense	`InterestExpense`	$62.34K	USD	1 Quarter
Interest expense	`InterestExpense`	$361.27K	USD	3 Qtrs
Interest expense	`InterestExpense`	$176.21K	USD	3 Qtrs
Interest expense	`InterestExpense`	$126.51K	USD	1 Quarter
Total other expense	`OtherExpenses`	$361.27K	USD	3 Qtrs
Total other expense	`OtherExpenses`	$176.21K	USD	3 Qtrs
Total other expense	`OtherExpenses`	$126.51K	USD	1 Quarter
Total other expense	`OtherExpenses`	$62.34K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.24M	USD	3 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.70M	USD	3 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.40M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.70M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.24M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.40M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.70M	USD	3 Qtrs
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.24M	USD	3 Qtrs
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.40M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.08M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.46	USD	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.28M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.56M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.85M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.28M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.70M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.24M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.40M	USD	1 Quarter
Depreciation	`Depreciation`	$123.28K	USD	1 Quarter
Depreciation	`Depreciation`	$110.58K	USD	1 Quarter
Depreciation	`Depreciation`	$354.50K	USD	3 Qtrs
Depreciation	`Depreciation`	$339.27K	USD	3 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$2.79M	USD	3 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$935.57K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$928.43K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$2.77M	USD	3 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$54.77K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$618.94K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$269.06K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.88M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.54M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-14.18M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-824.93K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-140.43K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$690.39K	USD	3 Qtrs
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-533.81K	USD	3 Qtrs
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$943.10K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-17.48M	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-547.75K	USD	3 Qtrs
Deferred revenue and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$-79.91K	USD	3 Qtrs
Deferred revenue and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$191.11K	USD	3 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$114.24K	USD	3 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-33.36K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.64M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.47M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$40.17K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$451.59K	USD	3 Qtrs
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$272.01K	USD	3 Qtrs
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$207.89K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-723.60K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-248.06K	USD	3 Qtrs
Proceeds from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$81.94M	USD	3 Qtrs
Proceeds from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$16.50M	USD	3 Qtrs
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$17.25M	USD	3 Qtrs
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$79.99M	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$234.33K	USD	3 Qtrs
Proceeds from the sale of common stock and warrants, net of issuance costs	`ProceedsFromIssuanceOrSaleOfEquity`	$2.89M	USD	3 Qtrs
Proceeds from shares issued for Employee Stock Purchase Plan	`ProceedsFromSharesIssuedForEmployeeStockPurchasePlan`	$11.97K	USD	3 Qtrs
Proceeds from shares issued for Employee Stock Purchase Plan	`ProceedsFromSharesIssuedForEmployeeStockPurchasePlan`	$27.43K	USD	3 Qtrs
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$90.30K	USD	3 Qtrs
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$48.21K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.68M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.08M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-212.41K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.12M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.87M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.87M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$270.09K	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$175.22K	USD	3 Qtrs
Repayment of Regions line of credit	`RepaymentsOfLineOfCreditNoncashOrPartialNoncashTransaction`	$-9.25M	USD	3 Qtrs
Acquisition of equipment under capital leases	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$33.11K	USD	3 Qtrs
Shares issued for consulting services	`StockIssued1`	$1.68M	USD	3 Qtrs

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$67.27M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$63.54M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$493.94K	USD	3 Qtrs
Shares issued for Employee Stock Purchase Plan options, Value	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$11.97K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.70M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.24M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.40M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$67.27M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$63.54M	USD	Point-in-time

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