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Quest Resource Holding Corporation Reports First Quarter 2022 Financial Results
THE COLONY, Texas, May 16, 2022 (GLOBE NEWSWIRE) -- Quest Resource Holding Corporation (NASDAQ: QRHC) ("Quest" or the “Company”), a national leader in
About this update from Quest Resource Holding Corporation
[{"type":"text","content":"THE COLONY, Texas, May 16, 2022 (GLOBE NEWSWIRE) -- Quest Resource Holding Corporation (NASDAQ: QRHC) (\"Quest\" or the “Company”), a national leader in environmental waste and recycling services, today announced financial results for the first quarter ended March 31, 2022. First Quarter 2022 Highlights Revenue was $71.5 million, a 103.8% increase compared with the first quarter of 2021.Gross profit was $11.2 million, a 74.7% increase compared with the first quarter of 2021.GAAP net loss per share attributable to common stockholders was ($0.11) per basic and diluted share, compared with net income of $0.06 per basic and diluted share during the first quarter of 2021.Adjusted EBITDA was $3.7 million, a 42.2% increase compared with the first quarter of 2021.Adjusted net income per diluted share was $0.06, compared with $0.07 per diluted share during the first quarter of 2021. “We delivered another quarter of solid financial performance with strong growth in gross profit dollars coming from onboarding new customers, expansion with existing customers, as well as from acquisitions,” said S. Ray Hatch, President and Chief Executive Officer of the Company. “Our customer value proposition is resonating well, demand for cost-effective sustainability solutions is increasing, and our pipeline of prospects is robust and expanding. We have been busy integrating recent acquisitions and see several opportunities to cross-sell services, as well as opportunities to improve operational and financial performance of the acquired businesses by leveraging the capabilities of our platform. We are investing in talent acquisition as well as technology and process improvements to drive future growth and improve the efficiency and scalability of our platform. We expect continued momentum in 2022 and the next several years from both organic and acquisitive sources.” First Quarter 2022 Earnings Conference Call and Webcast Quest will conduct a conference call Monday, May 16, 2022, at 5:00 PM ET, to review the Company's financial results and business outlook. Investors interested in participating on the live call can dial 1-800-289-0438 within the U.S. or 1-323-794-2423 from abroad, referencing conference ID: 7088790. The conference call, which may include forward-looking statements, is also being webcast and is available via the investor relations section of...