# EDGAR Filing Document

**Accession Number:** 0001442236
**File Stem:** 0001193125-26-104290
**Filing Date:** 2026-3
**Character Count:** 20995
**Document Hash:** dc26511215ee0fc6922cc403feb70160
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-104290.hdr.sgml**: 20260312

**ACCESSION NUMBER**: 0001193125-26-104290

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260312

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260312

**DATE AS OF CHANGE**: 20260312

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Quest Resource Holding Corp
- **CENTRAL INDEX KEY:** 0001442236
- **STANDARD INDUSTRIAL CLASSIFICATION:** REFUSE SYSTEMS [4953]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 510665952
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36451
- **FILM NUMBER:** 26748372

**BUSINESS ADDRESS:**
- **STREET 1:** 3481 PLANO PARKWAY
- **CITY:** THE COLONY
- **STATE:** TX
- **ZIP:** 75056
- **BUSINESS PHONE:** 972-464-0004

**MAIL ADDRESS:**
- **STREET 1:** 3481 PLANO PARKWAY
- **CITY:** THE COLONY
- **STATE:** TX
- **ZIP:** 75056

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Infinity Resources Holdings Corp.
- **DATE OF NAME CHANGE:** 20121030

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** YouChange Holdings Corp
- **DATE OF NAME CHANGE:** 20100824

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BlueStar Financial Group, Inc.
- **DATE OF NAME CHANGE:** 20080806

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM** 8-K

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| <br>**CURRENT REPORT**<br>**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**<br> Date of report (Date of earliest event reported): March 12, 2026 <br>QUEST RESOURCE HOLDING CORPORATION |
| (Exact Name of Registrant as Specified in Its Charter) |

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<u>Nevada</u>   <u>001-36451</u>   <u>51-0665952</u> <br> (State or other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

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| | |
|:---|:---|
| &nbsp;&nbsp;433 E. Las Colinas Boulevard**,** Suite 675**,** Irving**,** Texas | &nbsp;&nbsp;75039 |
| &nbsp;&nbsp;(Address of Principal Executive Offices) | &nbsp;&nbsp;(Zip Code) |

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Registrant's telephone number, including area code: (972<u>)</u> 464-0004

3481 Plano Parkway**,** Suite 100

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| |
|:---|
| &nbsp;&nbsp;The Colony**,** Texas 75056 |
| &nbsp;&nbsp;(Former name or former address if changed since last report) |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the follow provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;<u>Title of each class</u> | <u>Trading Symbol(s)</u> | &nbsp;&nbsp;&nbsp;&nbsp;<u>Name of each exchange on which registered</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stock, $0.001 par value | QRHC | &nbsp;&nbsp;&nbsp;&nbsp;The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 2.02. Results of Operations and Financial Condition.** 

We are furnishing this Current Report on Form 8-K in connection with the disclosure of information, in the form of the textual information from a press release released on March 12, 2026.

The information in this Current Report on Form 8-K (including the exhibit) is furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

We do not have, and expressly disclaim, any obligation to release publicly any updates or any changes in our expectations or any change in events, conditions, or circumstances on which any forward-looking statement is based.

The text included with this Current Report on Form 8-K is available on our website located at https://investors.qrhc.com/, although we reserve the right to discontinue that availability at any time.

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**Item 9.01. Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *Exhibits*.

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| | |
|:---|:---|
| &nbsp;&nbsp;**<u>Exhibit No</u>.** | &nbsp;&nbsp;<u>Description</u> |
| &nbsp;&nbsp;99.1 | &nbsp;&nbsp;[<u>Press Release from Quest Resource Holding Corporation, dated March 12, 2026, entitled "Quest Resource Holding Corporation Reports Fourth Quarter and Fiscal Year 2025 Financial Results"</u>](qrhc-ex99_1.htm). |
| &nbsp;&nbsp;104 | &nbsp;&nbsp;Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  | **QUEST RESOURCE HOLDING CORPORATION** | **QUEST RESOURCE HOLDING CORPORATION** | **QUEST RESOURCE HOLDING CORPORATION** |
| Dated: March 12, 2026 | By: | /s/ Brett W. Johnston | /s/ Brett W. Johnston |
|  |  | Name:  | Brett W. Johnston |
|  |  | Title:  | Senior Vice President and<br>Chief Financial Officer |

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## Exhibit 99.1

![img135785737_0.jpg](img135785737_0.jpg)

**Exhibit 99.1**

**Quest Resource Holding Corporation Reports Fourth Quarter and Fiscal Year 2025 Financial Results**

*Strategic initiatives and new customers are delivering improved underlying performance, masked by ongoing sector and macroeconomic environment business pressures* 

*Launched significant share of wallet expansions with two major customers and onboarded a new full-service restaurant customer*

*Reduced debt by $2.0 million in the quarter, bringing full year debt reduction to $13.2 million, or 16.4%*

**IRVING, TX – March 12, 2026 – Quest Resource Holding Corporation (**<u>Nasdaq: QRHC</u>**) ("Quest" or the "Company")**, a national leader in environmental waste and recycling services, today announced financial results for the fourth quarter and fiscal year ended December 31, 2025.

**<u>Fourth Quarter 2025 Highlights</u>** 

• Revenue was $58.9 million, a 15.8% decrease compared with the fourth quarter of 2024, and a 7.0% decrease from the third quarter of 2025.

• Gross profit was $9.1 million, a 15.1% decrease compared with the fourth quarter of 2024, and a 20.6% decrease from the third quarter of 2025.

• Gross margin was 15.5% of revenue, compared with 15.3% for the fourth quarter of 2024.

• GAAP net loss was $1.7 million, compared with a net loss of $9.5 million for the fourth quarter of 2024.

• GAAP net loss per basic and diluted share attributable to common stockholders was $(0.08), compared with $(0.46) for the fourth quarter of 2024.

• Adjusted EBITDA was $2.1 million, compared with $1.7 million for the fourth quarter of 2024.

**<u>Fiscal Year 2025 Highlights</u>**

• Revenue was $250.2 million, a 13.3% decrease compared with the same period of 2024.

• Gross profit was $42.5 million, a 14.9% decrease compared with the same period of 2024.

• Gross margin was 17.0% of revenue, compared with 17.3% for the same period of 2024.

• GAAP net loss was $15.4 million, compared with a net loss of $15.1 million for the same period of 2024.

• GAAP net loss per basic and diluted share attributable to common stockholders was $(0.73), which is consistent with the same period of 2024.

• Adjusted EBITDA was $9.3 million compared to $14.5 million during the same period of 2024.

**<u>Recent Highlights</u>**

• Launched a significant expansion of an existing retail customer, onboarded a new full-service restaurant customer, and expanded share of wallet wins with two major customers.

• Reduced debt by $13.2 million in 2025, a 16.4% reduction from December 31, 2024.

• Refinanced ABL credit facility with Texas Capital Bank and concurrently secured covenant easements into 2027 to gain additional financial flexibility and to provide significant room to operate in a challenging macro environment.

"The strategic efforts made over the past year to drive operational efficiency across the business are making solid progress, but the business continues to navigate a difficult macroeconomic environment," said Dan M. Friedberg, Chairman of the Company's Board of Directors. "We are on much more solid footing and Quest is a fundamentally stronger business focused on delivering improved results in 2026."

"While our financial performance in the fourth quarter continued to be challenged by lower volumes from our large industrial customers, strategic efforts made over the past year to drive operational efficiency across the business are

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delivering improved performance, and we remain confident that we are taking the right measures to position the business for a meaningful inflection when conditions normalize," said Perry W. Moss, Quest's Chief Executive Officer. "We are controlling what we can control and are taking significant and comprehensive action across every business function. We continue to bring this same disciplined approach to our new sales and share of wallet initiatives. Recent new contract wins are ramping as expected, and we are seeing encouraging traction with share-of-wallet initiatives that are delivering incremental organic growth. Altogether, we see these initiatives supporting an improved outlook for 2026."

Brett Johnston, Quest's Chief Financial Officer, added, "We continue to look for proactive measures to improve our financing costs and give ourselves greater flexibility on our lines of credit as our initiatives to improve profitability and cash flow take hold. To that end, we recently refinanced our ABL credit facility with Texas Capital Bank and negotiated both fixed charge and leverage covenant easements across 2026 and into 2027 on our term debt. These combined efforts will provide ample cushion to operate in this challenging environment while we continue to focus on the execution and completion of our initiatives to drive efficiencies and operating leverage across the business while investing in growth through new clients and wallet share."

**Fourth Quarter and Fiscal Year 2025 Earnings Conference Call and Webcast**

Quest will host a conference call on Thursday, March 12, 2026, at 5:00 PM ET, to review the financial results for the fourth quarter and year ended December 31, 2025. To participate, dial 1-800-717-1738 or 1-646-307-1865. The conference call, which may include forward-looking statements, is also being webcast and is available via the investor relations section of Quest's website at https://investors.qrhc.com/. A replay of the webcast will be archived on Quest's investor relations website for 90 days.

**About Quest Resource Holding Corporation** 

Quest is a national provider of waste and recycling services that empower larger businesses to excel in achieving their environmental and sustainability goals and responsibilities. Quest delivers focused expertise across multiple industry sectors to build single-source, client-specific solutions that generate quantifiable business and sustainability results. Addressing a wide variety of waste streams and recyclables, Quest provides information and data that tracks and reports the environmental results of Quest's services, gives actionable data to improve business operations, and enables Quest's clients to excel in their business and sustainability responsibilities. For more information, visit https://questrmg.com/.

**Reconciliation of U.S. GAAP to Non-GAAP Financial Measures** 

In this press release, the non-GAAP financial measure "Adjusted EBITDA" is presented. From time-to-time, Quest considers and uses supplemental measures of operating performance in order to provide an improved understanding of underlying performance trends. Quest believes it is useful to review, as applicable, both (1) GAAP measures that include (i) depreciation and amortization, (ii) interest expense, (iii) stock-based compensation expense, (iv) income tax expense, and (v) certain other adjustments, and (2) non-GAAP measures that exclude such items. Quest presents this non-GAAP measure because it considers it an important supplemental measure of Quest's performance. Quest's definition of this adjusted financial measure may differ from a similar measure used by others. Quest believes this measure facilitates operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. This non-GAAP measure has limitations as an analytical tool and should not be considered in isolation or as a substitute for the Company's GAAP measures. (See attached table "Reconciliation of Net Loss to Adjusted EBITDA").

**Safe Harbor Statement** 

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which provides a "safe harbor" for such statements in certain circumstances. The forward-looking statements include, but are not limited to, our belief that strategic efforts made over the past year to drive operational efficiency across the business are delivering improved performance, our belief that our initiatives are supporting an improved outlook for 2026, and our belief that our combined efforts of refinancing our ABL credit facility and amending our term loan debt will provide ample cushion to operate in this challenging operating environment while we continue to focus on the execution and completion of our initiatives to drive efficiencies and operating leverage across the business while investing in growth through new clients and wallet share. Actual events or results could differ materially from those discussed in the forward-looking statements as a

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result of various factors, including, but not limited to, competition in the environmental services industry, the impact of the current economic environment, interruptions to supply chains, commodity price fluctuations, and extended shut down of businesses, and other factors discussed in greater detail in our filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the year ended December 31, 2025. You are cautioned not to place undue reliance on such statements and to consult our SEC filings for additional risks and uncertainties that may apply to our business and the ownership of our securities. Our forward-looking statements are presented as of the date made, and we disclaim any duty to update such statements unless required by law to do so.

Investor Relations Contact:

Alpha IR Group

Ryan Coleman or Nick Nelson

QRHC@alpha-ir.com

312-445-2870

Financial Tables Follow

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**Quest Resource Holding Corporation and Subsidiaries**

**STATEMENTS OF OPERATIONS**

(In thousands, except per share amounts)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended <br>December 31,** | **Three Months Ended <br>December 31,** | **Year Ended <br>December 31,** | **Year Ended <br>December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | **(Unaudited)** | **(Unaudited)** |  |  |
| **Revenue** | $58906 | $69970 | $250217 | $288532 |
| Cost of revenue | 49797 | 59243 | 207673 | 238537 |
| **Gross profit** | 9109 | 10727 | 42544 | 49995 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;Selling, general, and administrative | 7687 | 10086 | 37634 | 39543 |
| &nbsp;&nbsp;Depreciation and amortization | 1130 | 2307 | 5276 | 9401 |
| &nbsp;&nbsp;(Gain) loss on sale of assets, net | (255) |  | 4084 |  |
| &nbsp;&nbsp;Impairment loss |  | 5511 | 1707 | 5511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 8562 | 17904 | 48701 | 54455 |
| **Operating income (loss)** | 547 | (7177) | (6157) | (4460) |
| &nbsp;&nbsp;Interest expense | (2178) | (2505) | (9209) | (10312) |
| Loss before taxes | (1631) | (9682) | (15366) | (14772) |
| Income tax expense (benefit) | 25 | (174) | 16 | 291 |
| **Net loss** | $(1656) | $(9508) | $(15382) | $(15063) |
| **Net loss per share applicable to common stockholders** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic and diluted | $(0.08) | $(0.46) | $(0.73) | $(0.73) |
| **Weighted average number of common shares outstanding** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic and diluted | 21110 | 20837 | 20998 | 20617 |

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**RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA**

(Unaudited)

(In thousands)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended <br>December 31,** | **Three Months Ended <br>December 31,** | **Year Ended <br>December 31,** | **Year Ended <br>December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Net loss | $(1656) | $(9508) | $(15382) | $(15063) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 1307 | 2558 | 6051 | 10272 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 2178 | 2505 | 9209 | 10312 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | (48) | 272 | 1617 | 1563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition, integration, and related costs |  | 21 |  | 112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on sale of assets, net | (255) |  | 4084 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment loss |  | 5511 | 1707 | 5511 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other adjustments | 569 | 491 | 1995 | 1471 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense (benefit) | 25 | (174) | 16 | 291 |
| Adjusted EBITDA | $2120 | $1676 | $9297 | $14469 |

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**BALANCE SHEETS**

(In thousands, except per share amounts)

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| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| **ASSETS** | **ASSETS** | **ASSETS** |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $1014 | $396 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, less allowance for doubtful accounts of $780<br> and $831 as of December 31, 2025 and 2024, respectively | 49010 | 62252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 1174 | 2601 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets held for sale |  | 9890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 51198 | 75139 |
| Goodwill | 81065 | 81065 |
| Intangible assets, net | 7650 | 12946 |
| Property and equipment, net, and other assets | 5638 | 6495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $145551 | $175645 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** | **LIABILITIES AND STOCKHOLDERS' EQUITY** | **LIABILITIES AND STOCKHOLDERS' EQUITY** |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | $38384 | $39899 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | 128 | 1001 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of notes payable | 1015 | 1651 |
| &nbsp;&nbsp;&nbsp;&nbsp;Liabilities held for sale |  | 1840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 39527 | 44391 |
| Notes payable, net | 63999 | 76265 |
| Other long-term liabilities | 1513 | 833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 105039 | 121489 |
| Commitments and contingencies |  |  |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, $0.001 par value, 10,000 shares authorized, no shares<br> issued and outstanding as of December 31, 2025 and 2024 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, $0.001 par value, 200,000 shares authorized,<br> 20,960 and 20,606 shares issued and outstanding as<br> of December 31, 2025 and 2024, respectively | 21 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 180984 | 179246 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (140493) | (125111) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 40512 | 54156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $145551 | $175645 |

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