10-Q Filing

Quest Resource Holding Corp CIK: 1442236 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-029348`
Period End Date	20180930
Filing Date	20181113
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	qrhc-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 56 Cash Flow Statement 62 Stockholders Equity 10

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$699.10K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$874.83K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $874,828 and $699,102 as of September 30, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$16.26M	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 $874,828 and $699,102 as of September 30, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$17.15M	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`	$1.51M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.83M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.65M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Goodwill	`Goodwill`	$58.34M	USD	Point-in-time
Goodwill	`Goodwill`	$58.21M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.31M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.30M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.87M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.03M	USD	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$1.32M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.30M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$1.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.31M	shares	Point-in-time
Total assets	`Assets`	$83.52M	USD	Point-in-time
Total assets	`Assets`	$81.76M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$16.51M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$14.25M	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$328.76K	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$93.92K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.58M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$6.76M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$4.93M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$21.99K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$735.00	USD	Point-in-time
Total liabilities	`Liabilities`	$21.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$21.37M	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, 2018 and December 31, 2017	`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, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,313,383 and 15,302,455 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$15.30K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,313,383 and 15,302,455 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$15.31K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$158.87M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$159.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-96.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-99.27M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$60.23M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$62.15M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$83.52M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$81.76M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$31.93M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$115.84M	USD	3 Qtrs
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$78.54M	USD	3 Qtrs
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$25.92M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$66.10M	USD	3 Qtrs
Cost of revenue	`CostOfGoodsAndServicesSold`	$27.90M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$21.45M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$103.18M	USD	3 Qtrs
Gross profit	`GrossProfit`	$12.66M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.47M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.45M	USD	3 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$12.27M	USD	3 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.64M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$13.54M	USD	3 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$3.98M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$406.73K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.37M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.00M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$4.98M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.05M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$16.54M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$14.64M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-574.75K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-953.80K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.88M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-2.20M	USD	3 Qtrs
Interest expense	`InterestExpense`	$126.51K	USD	1 Quarter
Interest expense	`InterestExpense`	$106.14K	USD	1 Quarter
Interest expense	`InterestExpense`	$335.58K	USD	3 Qtrs
Interest expense	`InterestExpense`	$361.27K	USD	3 Qtrs
Total other expense	`OtherExpenses`	$126.51K	USD	1 Quarter
Total other expense	`OtherExpenses`	$106.14K	USD	1 Quarter
Total other expense	`OtherExpenses`	$361.27K	USD	3 Qtrs
Total other expense	`OtherExpenses`	$335.58K	USD	3 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-680.89K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.08M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.24M	USD	3 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.53M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.24M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.53M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-680.89K	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.24M	USD	3 Qtrs
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.53M	USD	3 Qtrs
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.08M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-680.89K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.17	USD	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.31M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.31M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.28M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.28M	shares	3 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.24M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.53M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-680.89K	USD	1 Quarter
Depreciation	`Depreciation`	$339.27K	USD	3 Qtrs
Depreciation	`Depreciation`	$301.65K	USD	3 Qtrs
Depreciation	`Depreciation`	$97.68K	USD	1 Quarter
Depreciation	`Depreciation`	$110.58K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$2.79M	USD	3 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$2.21M	USD	3 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$354.62K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$935.57K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$54.77K	USD	3 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$70.43K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$618.94K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.01M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$593.52K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.54M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.90M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-14.18M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-63.19K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-140.43K	USD	3 Qtrs
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-264.87K	USD	3 Qtrs
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-533.81K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.25M	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-17.48M	USD	3 Qtrs
Deferred revenue and other liabilities	`IncreaseDecreaseInContractWithCustomerLiabilityAndOtherLiability`	$-113.27K	USD	3 Qtrs
Deferred revenue and other liabilities	`IncreaseDecreaseInContractWithCustomerLiabilityAndOtherLiability`	$-220.10K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.64M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.11M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$40.17K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.37K	USD	3 Qtrs
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$207.89K	USD	3 Qtrs
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$159.93K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-248.06K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-203.30K	USD	3 Qtrs
Proceeds from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$81.94M	USD	3 Qtrs
Proceeds from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$74.82M	USD	3 Qtrs
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$79.99M	USD	3 Qtrs
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$76.72M	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$234.33K	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`	$18.40K	USD	3 Qtrs
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$36.00K	USD	3 Qtrs
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$48.21K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.68M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.92M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.02K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-212.41K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.33M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.12M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.05M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.06M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.33M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.05M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.06M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$270.09K	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$271.62K	USD	3 Qtrs
Sale of goodwill and intangible assets	`ProceedsFromSaleOfGoodwillAndIntangibleAssetsNoncashOrPartialNoncashTransaction`	$246.59K	USD	3 Qtrs
Investment in Earth Media Partners, LLC	`InvestmentInRelatedPartyNoncashOrPartialNoncashTransaction`	$246.59K	USD	3 Qtrs
Repayment of Regions line of credit	`RepaymentsOfLineOfCreditNoncashOrPartialNoncashTransaction`	$9.25M	USD	3 Qtrs

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$60.23M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$62.15M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$593.52K	USD	3 Qtrs
Shares issued for Employee Stock Purchase Plan options, Value	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$18.40K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.24M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.53M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-680.89K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$60.23M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$62.15M	USD	Point-in-time

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