NASDAQ : ARQ
Arq, Inc. — Financial statements
Industrials · Pollution & Treatment Controls · United States
Last price 1.77 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 77.29M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Arq, Inc. (ARQ) reported revenue of 123.44M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 123.44M | 120.34M | 108.96M | 99.18M | 102.99M | |
| Cost of Revenue | 82.59M | 81.80M | 65.72M | 62.82M | 76.47M | 6.10M |
| Gross Profit | 40.85M | 38.53M | 43.24M | 36.36M | 26.52M | -6.10M |
| Selling, General & Admin | 30.04M | 27.55M | 32.49M | 35.77M | 32.14M | 15.79M |
| Research & Development | 5.71M | 7.34M | 4.05M | 3.31M | 4.00M | |
| Other Operating Expenses | 34.00K | |||||
| Operating Expenses | 48.76M | 46.64M | 45.14M | 49.63M | 38.59M | 19.80M |
| Operating Income | -7.91M | -8.11M | -1.90M | -13.27M | -12.07M | -25.90M |
| Interest Expense | -2.58M | -2.45M | -3.26M | -3.01M | -336.00K | -546.00K |
| Interest & Investment Income | 1.85M | |||||
| Earnings From Equity Investments | 1.95M | 1.95M | 127.00K | 1.62M | 3.54M | |
| Other Non Operating Income (Expenses) | 1.50M | 858.00K | 1.24M | 784.00K | 155.00K | -124.00K |
| EBT Excluding Unusual Items | -7.04M | -7.75M | -3.79M | -12.03M | -8.71M | -26.57M |
| Merger & Restructuring Charges | -1.10M | |||||
| Gain (Loss) on Sale of Assets | -268.00K | -96.00K | -64.00K | 2.73M | ||
| Asset Writedown | -44.76M | -44.76M | -90.07M | |||
| Other Unusual Items | -1.42M | -1.70M | ||||
| Pretax Income | -52.07M | -52.60M | -5.27M | -12.10M | -8.71M | -116.64M |
| Income Tax Expense | 12.00K | 12.00K | -164.00K | 153.00K | 209.00K | -915.00K |
| Net Income | -52.08M | -52.61M | -5.11M | -12.25M | -8.92M | -115.72M |
| Net Income to Common | -52.08M | -52.61M | -5.11M | -12.25M | -8.92M | -115.72M |
| Shares Outstanding (Basic) | 41.77M | 41.52M | 36.05M | 29.10M | 18.45M | 78.43M |
| Shares Outstanding (Diluted) | 41.77M | 41.52M | 36.05M | 29.10M | 18.45M | 78.43M |
| EPS (Basic) | -1.25 | -1.27 | -0.14 | -0.42 | -0.48 | -1.48 |
| EPS (Diluted) | -1.25 | -1.27 | -0.14 | -0.42 | -0.48 | -1.48 |
| Free Cash Flow | -5.64M | -11.84M | -74.87M | -46.86M | -15.56M | -24.73M |
| Free Cash Flow Per Share | -0.14 | -0.28 | -2.08 | -1.61 | -0.84 | -0.32 |
| Gross Margin | 33.09% | 32.02% | 39.69% | 36.66% | 25.75% | |
| Operating Margin | -6.41% | -6.74% | -1.74% | -13.38% | -11.72% | |
| Profit Margin | -42.19% | -43.72% | -4.69% | -12.35% | -8.66% | |
| Free Cash Flow Margin | -4.57% | -9.84% | -68.72% | -47.24% | -15.11% | |
| EBITDA | 5.10M | 3.64M | 6.70M | -2.72M | -5.65M | -25.19M |
| EBITDA Margin | 4.13% | 3.03% | 6.15% | -2.74% | -5.49% | |
| D&A For EBITDA | 13.02M | 11.75M | 8.59M | 10.54M | 6.42M | 710.00K |
| EBIT | -7.91M | -8.11M | -1.90M | -13.27M | -12.07M | -25.90M |
| EBIT Margin | -6.41% | -6.74% | -1.74% | -13.38% | -11.72% | |
| Revenue as Reported | 102.99M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 906.00K | 6.57M | 13.52M | 45.36M | 66.43M | 7.01M |
| Cash & Short-Term Investments | 906.00K | 6.57M | 13.52M | 45.36M | 66.43M | 7.01M |
| Accounts Receivable | 20.03M | 14.83M | 13.27M | 11.29M | 13.79M | |
| Other Receivables | 150.00K | 1.61M | 4.90M | 75.00K | 979.00K | |
| Receivables | 20.03M | 14.98M | 14.88M | 16.19M | 13.86M | 979.00K |
| Inventory | 19.41M | 15.89M | 19.31M | 19.69M | 17.83M | 340.00K |
| Prepaid Expenses | 5.04M | 4.43M | 3.00M | 2.43M | 7.54M | 658.00K |
| Other Current Assets | 1.86M | 1.97M | 1.65M | 2.79M | ||
| Total Current Assets | 47.24M | 43.85M | 52.36M | 86.46M | 105.66M | 8.99M |
| Property, Plant & Equipment | 144.45M | 149.95M | 187.88M | 105.24M | 42.59M | 93.39M |
| Other Intangible Assets | 572.00K | 570.00K | 7.57M | 7.90M | 847.00K | |
| Long-Term Deferred Charges | 8.99M | 6.76M | 7.01M | 7.38M | 5.48M | |
| Other Long-Term Assets | 31.77M | 29.45M | 29.56M | 28.52M | 26.59M | 2.39M |
| Total Assets | 233.01M | 230.58M | 284.37M | 235.50M | 181.16M | 104.77M |
| Accounts Payable | 15.41M | 15.27M | 21.02M | 14.60M | 16.11M | 6.28M |
| Accrued Expenses | 1.28M | 1.30M | 2.33M | 948.00K | 1.25M | |
| Short-Term Debt | 21.41M | 18.95M | 13.83M | |||
| Current Portion of Long-Term Debt | 851.00K | 832.00K | 769.00K | 522.00K | 82.88M | |
| Current Portion of Leases | 2.90M | 3.07M | 2.94M | 4.08M | 3.85M | 1.42M |
| Current Income Taxes Payable | 1.04M | |||||
| Other Current Liabilities | 4.13M | 2.87M | 3.78M | 2.90M | 2.88M | |
| Total Current Liabilities | 45.99M | 42.30M | 44.65M | 23.05M | 23.88M | 91.83M |
| Long-Term Debt | 8.00M | 8.36M | 8.96M | 16.94M | 5.72M | |
| Long-Term Leases | 4.90M | 6.17M | 7.87M | 10.20M | 8.58M | 12.19M |
| Other Long-Term Liabilities | 5.90M | 5.78M | 5.61M | 6.91M | 8.72M | 4.18M |
| Total Liabilities | 64.79M | 62.62M | 67.09M | 57.10M | 41.19M | 113.92M |
| Common Stock | 47.00K | 47.00K | 47.00K | 38.00K | 24.00K | 15.72M |
| Additional Paid-In Capital | 203.52M | 201.78M | 198.49M | 154.51M | 103.70M | 278.07M |
| Retained Earnings | 12.35M | 13.82M | 66.43M | 71.54M | 83.95M | -400.30M |
| Treasury Stock | -47.69M | -47.69M | -47.69M | -47.69M | -47.69M | |
| Comprehensive Income & Other | 97.37M | |||||
| Shareholders' Equity | 168.22M | 167.96M | 217.28M | 178.40M | 139.98M | -9.14M |
| Total Liabilities & Equity | 233.01M | 230.58M | 284.37M | 235.50M | 181.16M | 104.77M |
| Total Debt | 38.06M | 37.39M | 34.36M | 31.74M | 12.44M | 102.21M |
| Net Cash (Debt) | -37.16M | -30.82M | -20.85M | 13.62M | 53.99M | -95.20M |
| Net Cash Per Share | -0.89 | -0.74 | -0.58 | 0.47 | 2.93 | -1.21 |
| Filing Date Shares Outstanding | 43.67M | 42.85M | 42.01M | 33.24M | 161.16M | 78.43M |
| Total Common Shares Outstanding | 42.89M | 42.73M | 42.02M | 33.17M | 161.16M | 78.43M |
| Working Capital | 1.25M | 1.55M | 7.70M | 63.41M | 81.78M | -82.84M |
| Book Value Per Share | 3.92 | 3.93 | 5.17 | 5.38 | 0.87 | -0.12 |
| Tangible Book Value | 167.65M | 167.39M | 209.71M | 170.50M | 139.13M | -9.14M |
| Tangible Book Value Per Share | 3.91 | 3.92 | 4.99 | 5.14 | 0.86 | -0.12 |
| Land | 2.10M | 1.60M | 1.23M | 1.23M | 70.18M | |
| Machinery | 158.56M | 86.45M | 81.11M | 32.44M | 72.22M | |
| Construction In Progress | 5.64M | 109.98M | 25.06M | 6.37M | 24.36M | |
| Leasehold Improvements | 2.15M | 3.14M | 2.15M | 2.15M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -52.08M | -52.61M | -5.11M | -12.25M | -8.92M | -115.72M |
| Depreciation & Amortization | 13.02M | 11.75M | 8.59M | 10.54M | 6.42M | 710.00K |
| Other Amortization | 391.00K | 359.00K | 601.00K | 546.00K | ||
| Loss (Gain) From Sale of Assets | 268.00K | 96.00K | 64.00K | -2.73M | 16.00K | |
| Asset Writedown & Restructuring Costs | 44.76M | 44.76M | 90.07M | |||
| Loss (Gain) on Equity Investments | -1.95M | -1.95M | -127.00K | -1.62M | -1.24M | |
| Stock-Based Compensation | 3.83M | 3.36M | 2.71M | 2.65M | 1.98M | 5.10M |
| Other Operating Activities | 2.08M | 1.75M | 3.46M | 2.68M | 3.24M | 423.00K |
| Change in Accounts Receivable | -4.48M | -104.00K | 1.32M | -2.26M | 1.17M | |
| Change in Inventory | 2.14M | 3.25M | 1.64M | -2.57M | -9.69M | |
| Change in Accounts Payable | -809.00K | -6.70M | 216.00K | -12.06M | -911.00K | 2.58M |
| Change in Other Net Operating Assets | -7.27M | -6.69M | -2.89M | 427.00K | 1.89M | -795.00K |
| Operating Cash Flow | -113.00K | -2.73M | 10.48M | -16.65M | -6.06M | -17.62M |
| Capital Expenditures | -5.52M | -9.11M | -85.35M | -30.21M | -9.50M | -7.11M |
| Sale of Property, Plant & Equipment | 10.00K | 10.00K | 150.00K | 1.25M | ||
| Cash Acquisitions | 2.23M | |||||
| Divestitures | -2.18M | |||||
| Investment in Securities | 174.00K | 251.00K | 127.00K | 1.62M | 3.64M | |
| Other Investing Activities | 685.00K | 685.00K | 50.00K | |||
| Investing Cash Flow | -4.65M | -8.16M | -85.07M | -28.54M | -4.61M | -7.06M |
| Short-Term Debt Issued | 128.94M | 13.83M | ||||
| Long-Term Debt Issued | 8.52M | 6.23M | ||||
| Total Debt Issued | 125.23M | 128.94M | 13.83M | 8.52M | 6.23M | |
| Short-Term Debt Repaid | -123.82M | |||||
| Long-Term Debt Repaid | -1.36M | -11.57M | -1.60M | -1.25M | -1.10M | |
| Lease Payments | -1.10M | |||||
| Total Debt Repaid | -123.53M | -125.18M | -11.57M | -1.60M | -1.25M | -1.10M |
| Net Debt Issued (Repaid) | 1.70M | 3.76M | 2.26M | 6.92M | -1.25M | 5.12M |
| Issuance of Common Stock | 42.41M | 16.22M | ||||
| Repurchase of Common Stock | -218.00K | -66.00K | -1.14M | -230.00K | -388.00K | |
| Dividends Paid | -45.00K | |||||
| Other Financing Activities | -853.00K | -884.00K | ||||
| Financing Cash Flow | 1.49M | 3.70M | 42.68M | 22.91M | -1.68M | 4.24M |
| Net Cash Flow | -3.28M | -7.20M | -31.92M | -22.28M | -12.35M | -20.44M |
| Free Cash Flow | -5.64M | -11.84M | -74.87M | -46.86M | -15.56M | -24.73M |
| Free Cash Flow Margin | -4.57% | -9.84% | -68.72% | -47.24% | -15.11% | |
| Free Cash Flow Per Share | -0.14 | -0.28 | -2.08 | -1.61 | -0.84 | -0.32 |
| Levered Free Cash Flow | -298.25K | -6.35M | -65.73M | -30.09M | -33.61M | -16.16M |
| Unlevered Free Cash Flow | 925.75K | -5.18M | -64.30M | -28.75M | -33.40M | -15.82M |
| Free Cash Flow After Leases | -5.64M | -11.84M | -74.87M | -46.86M | -15.56M | -25.84M |
| Cash Interest Paid | 661.00K | 661.00K | 2.02M | 1.73M | 334.00K | 179.00K |
| Cash Income Tax Paid | -27.00K | -100.00K | -1.70M | 3.00K | -689.00K | |
| Change in Working Capital | -10.42M | -10.24M | 276.00K | -16.47M | -7.54M | 1.78M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 77.29M | 139.61M | 318.18M | 98.88M | ||
| Enterprise Value | 114.45M | 167.54M | 299.04M | 78.36M | ||
| Last Close Price | 1.77 | 3.27 | 7.57 | 2.98 | ||
| Forward PE | 53.15 | 33.69 | 108.14 | |||
| PS Ratio | 0.63 | 1.16 | 2.92 | 1.00 | ||
| PB Ratio | 0.45 | 0.83 | 1.46 | 0.55 | ||
| P/TBV Ratio | 0.46 | 0.83 | 1.52 | 0.58 | ||
| P/OCF Ratio | 30.37 | |||||
| EV/Sales Ratio | 0.93 | 1.39 | 2.75 | 0.79 | ||
| EV/EBITDA Ratio | 22.43 | 46.02 | 44.64 | |||
| Debt / Equity Ratio | 0.23 | 0.22 | 0.16 | 0.18 | 0.09 | -11.18 |
| Debt / EBITDA Ratio | 3.41 | 3.99 | 2.86 | 9.97 | ||
| Net Debt / Equity Ratio | 0.22 | 0.18 | 0.10 | -0.08 | -0.39 | -10.41 |
| Net Debt / EBITDA Ratio | 7.28 | 8.46 | 3.11 | 5.00 | 9.55 | -3.78 |
| Net Debt / FCF Ratio | -6.59 | -2.60 | -0.28 | 0.29 | 3.47 | -3.85 |
| Asset Turnover | 0.48 | 0.47 | 0.42 | 0.48 | 0.72 | |
| Inventory Turnover | 4.11 | 4.65 | 3.37 | 3.35 | 8.42 | 17.95 |
| Quick Ratio | 0.46 | 0.51 | 0.64 | 2.67 | 3.36 | 0.09 |
| Current Ratio | 1.03 | 1.04 | 1.17 | 3.75 | 4.42 | 0.10 |
| Return on Equity (ROE) | -27.05% | -27.31% | -2.58% | -7.70% | -13.63% | -250.66% |
| Return on Assets (ROA) | -1.91% | -1.97% | -0.46% | -3.98% | -5.28% | -11.16% |
| Return on Capital Employed (ROCE) | -4.20% | -4.30% | -0.80% | -6.20% | -7.70% | -200.10% |
| Earnings Yield | -70.44% | -37.68% | -1.61% | -12.39% | ||
| FCF Yield | -7.29% | -8.48% | -23.53% | -47.39% | ||
| Buyback Yield / Dilution | -4.05% | -15.18% | -23.87% | -57.72% | 76.47% |