ARQ (Arq, Inc.) Stock Financials & Earnings | Market Cap Arena

ARQ (Arq, Inc.) Stock Financials & Earnings | Market Cap Arena

ARQArq, Inc.

Mkt Cap$69M

Industrials·Industrial - Pollution & Treatment Controls·🇺🇸 United States·NASDAQ

Revenue (TTM)$120M

Net Income (TTM)-$53M

EPS (TTM)-$1.26

Free Cash Flow (TTM)-$7M

Gross Margin27.9%

Op. Margin-44.0%

Net Margin-43.7%

FCF Margin-5.9%

P/S Ratio (TTM)0.6x

P/E Ratio (TTM)—

YoY Rev Growth+10.4%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$21M	$4M	-$8M
Q2 23	$20M	$5M	-$6M
Q3 23	$30M	$6M	-$3M
Q4 23	$28M	$14M	$3M
Q1 24	$22M	$6M	-$3M
Q2 24	$25M	$7M	-$1M
Q3 24	$35M	$13M	$2M
Q4 24	$27M	$10M	$413K
Q1 25	$27M	$10M	$662K
Q2 25	$29M	$10M	-$2M
Q3 25	$35M	$10M	-$839K
Q4 25	$29M	$4M	-$51M

Valuation

Quarter	P/S	P/E
Q1 23	0.7x	—
Q2 23	0.7x	—
Q3 23	0.7x	—
Q4 23	0.7x	—
Q1 24	0.7x	—
Q2 24	0.7x	—
Q3 24	0.6x	—
Q4 24	0.6x	—
Q1 25	0.6x	—
Q2 25	0.6x	—
Q3 25	0.6x	—
Q4 25	0.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$17M	-$21M
Q2 23	-$3M	-$10M
Q3 23	$14K	-$7M
Q4 23	$4M	-$6M
Q1 24	$526K	-$9M
Q2 24	-$3M	-$22M
Q3 24	$8M	-$6M
Q4 24	$5M	-$38M
Q1 25	-$6M	-$5M
Q2 25	$527K	-$1M
Q3 25	$5M	$3M
Q4 25	-$3M	-$4M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$4M
Q2 23	$7M
Q3 23	$7M
Q4 23	$11M
Q1 24	$10M
Q2 24	$19M
Q3 24	$13M
Q4 24	$43M
Q1 25	$959K
Q2 25	$2M
Q3 25	$2M
Q4 25	$1M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-21.2%	-3.7%
Q2 23	-17.4%	-3.4%
Q3 23	+4.9%	+4.2%
Q4 23	+20.1%	-6.7%
Q1 24	+4.5%	-13.7%
Q2 24	+24.3%	+1.1%
Q3 24	+16.6%	+1.2%
Q4 24	-3.8%	+6.5%
Q1 25	+25.3%	+7.5%
Q2 25	+12.5%	+12.4%
Q3 25	+0.9%	+9.7%
Q4 25	+8.8%	+202.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$545K	2.7%
Q3 23	$702K	2.4%
Q4 23	$838K	3.0%
Q1 24	$782K	3.6%
Q2 24	$653K	2.6%
Q3 24	$0	0.0%
Q4 24	$530K	2.0%
Q1 25	$736K	2.7%
Q2 25	$734K	2.6%
Q3 25	$1M	3.0%
Q4 25	$840K	2.9%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 23	$732K	$11M	—
Q2 23	$774K	$9M	—
Q3 23	—	$9M	—
Q4 23	—	$8M	—
Q1 24	$2M	$8M	—
Q2 24	$929K	—	$7M
Q3 24	$787K	—	$8M
Q4 24	$709K	—	$6M
Q1 25	$874K	$6M	—
Q2 25	$3M	$6M	—
Q3 25	$3M	$5M	—
Q4 25	$1M	—	$6M

Revenue by Geography

Quarter	Canada	United States
Q1 25	$3M	$25M
Q2 25	$1M	$27M
Q3 25	$2M	$33M
Q4 25	$3M	$26M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$68M	$0	$68M
Q2 23	$59M	$0	$59M
Q3 23	$53M	$0	$53M
Q4 23	$45M	$0	$45M
Q1 24	$35M	$0	$35M
Q2 24	$28M	$0	$28M
Q3 24	$49M	$0	$49M
Q4 24	$14M	$0	$14M
Q1 25	$6M	$0	$6M
Q2 25	$7M	$0	$7M
Q3 25	$7M	$0	$7M
Q4 25	$7M	$0	$7M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	24M	+24.0%
Q2 23	27M	+15.1%
Q3 23	32M	+16.3%
Q4 23	33M	+3.6%
Q1 24	37M	+12.5%
Q2 24	34M	-7.3%
Q3 24	37M	+9.0%
Q4 24	36M	-3.7%
Q1 25	43M	+18.0%
Q2 25	42M	-2.4%
Q3 25	42M	+0.2%
Q4 25	42M	+0.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 16	—	—
FY 17	—	—
FY 18	—	—
FY 19	—	—
FY 20	—	—
FY 21	—	—
FY 22	—	—
FY 23	—	—
FY 24	$537K	203
FY 25	$596K	202