10-Q Filing

Quest Resource Holding Corp CIK: 1442236 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-028371`
Period End Date	20210331
Filing Date	20210517
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	qrhc-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 32 Cash Flow Statement 52 Stockholders Equity 13

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$977.49K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$935.26K	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`	$7.52M	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`	$10.75M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $977,490 and $935,261 as of March 31, 2021 and December 31, 2020, respectively	`AccountsReceivableNetCurrent`	$20.72M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $977,490 and $935,261 as of March 31, 2021 and December 31, 2020, respectively	`AccountsReceivableNetCurrent`	$17.42M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.07M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.18M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.66M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.01M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Goodwill	`Goodwill`	$66.31M	USD	Point-in-time
Goodwill	`Goodwill`	$66.31M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.21M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.69M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.41M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.53M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.41M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$3.38M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.69M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$3.24M	USD	Point-in-time
Total assets	`Assets`	$102.23M	USD	Point-in-time
Total assets	`Assets`	$108.42M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$20.30M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$15.25M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.39M	USD	Point-in-time
Current portion of notes payable	`NotesPayableCurrent`	$624.38K	USD	Point-in-time
Current portion of notes payable	`NotesPayableCurrent`	$624.38K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.51M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.26M	USD	Point-in-time
Notes payable, net	`LongTermNotesPayable`	$14.95M	USD	Point-in-time
Notes payable, net	`LongTermNotesPayable`	$14.30M	USD	Point-in-time
Other long-term liabilities, net	`OtherLiabilitiesNoncurrent`	$1.97M	USD	Point-in-time
Other long-term liabilities, net	`OtherLiabilitiesNoncurrent`	$1.85M	USD	Point-in-time
Total liabilities	`Liabilities`	$38.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$34.19M	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, 2021 and December 31, 2020	`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, 2021 and December 31, 2020	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 18,689,807 and 18,413,419 shares issued and outstanding as of March 31, 2021 and December 31, 2020	`CommonStockValue`	$18.69K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 18,689,807 and 18,413,419 shares issued and outstanding as of March 31, 2021 and December 31, 2020	`CommonStockValue`	$18.41K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$166.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$166.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-97.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-98.40M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$61.79M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$68.04M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$61.64M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$69.75M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$108.42M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$102.23M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$25.33M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$35.10M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$20.79M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$28.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.44M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.54M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.26M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.41M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$407.28K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$333.75K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.74M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.67M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-200.08K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$1.77M	USD	1 Quarter
Interest expense	`InterestExpense`	$84.32K	USD	1 Quarter
Interest expense	`InterestExpense`	$561.46K	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.21M	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-284.40K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$61.83K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-52.73K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-231.67K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.15M	USD	1 Quarter
Net income (loss) applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-231.67K	USD	1 Quarter
Net income (loss) applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.15M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.50M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.40M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.40M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.41M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-231.67K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.15M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.32M	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`	$264.24K	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$860.00	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-13.01K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.00M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.04M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$191.04K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$2.97K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.95M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.12K	USD	1 Quarter
Depreciation	`Depreciation`	$50.22K	USD	1 Quarter
Depreciation	`Depreciation`	$110.14K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$365.52K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$297.35K	USD	1 Quarter
Amortization of debt issuance costs and discounts	`AmortizationOfFinancingCostsAndDiscounts`	$23.48K	USD	1 Quarter
Amortization of debt issuance costs and discounts	`AmortizationOfFinancingCostsAndDiscounts`	$211.62K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$34.49K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$30.82K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$377.32K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$309.61K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$115.89K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.74K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$42.73K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$11.20K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-38.94K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-158.61K	USD	1 Quarter
Proceeds from credit facilities	`ProceedsFromLinesOfCredit`	$23.63M	USD	1 Quarter
Proceeds from credit facilities	`ProceedsFromLinesOfCredit`	$13.36M	USD	1 Quarter
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$14.04M	USD	1 Quarter
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$23.64M	USD	1 Quarter
Repayments of notes payable	`RepaymentsOfNotesPayable`	$135.54K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$253.39K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.13K	USD	1 Quarter
Net cash 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`	$-61.20K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.52M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.41M	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`	$3.35M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.52M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.41M	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`	$3.35M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$353.96K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$56.48K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$50.23K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$4.00K	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$61.79M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$68.04M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$61.64M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$69.75M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$309.61K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$377.32K	USD	1 Quarter
Stock option and warrant exercises	`StockIssuedDuringPeriodValueStockOptionsAndWarrantExercised`	$253.39K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-231.67K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.15M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$61.79M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$68.04M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$61.64M	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.