Quest Resource Holding Reports 2025 Financial Results

Strategic initiatives and new customers deliver improved performance despite macroeconomic pressures

Mar. 12, 2026 at 10:10pm

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Quest Resource Holding Corporation, a national leader in environmental waste and recycling services, announced its financial results for the fourth quarter and fiscal year ended December 31, 2025. The company reported a 15.8% decrease in revenue for the fourth quarter and a 13.3% decrease for the full year compared to 2024, but saw improvements in gross profit, net loss, and adjusted EBITDA as a result of operational efficiency initiatives and new customer wins.

Why it matters

Quest's results highlight the challenges businesses are facing in the current macroeconomic environment, with lower volumes from large industrial customers impacting financial performance. However, the company's strategic efforts to drive operational efficiency and expand its customer base are showing signs of progress, positioning it for potential improvement in 2026.

The details

For the fourth quarter of 2025, Quest reported revenue of $58.9 million, a 15.8% decrease compared to the same period in 2024. Gross profit was $9.1 million, a 15.1% decrease. However, the company's gross margin improved to 15.5% of revenue, up from 15.3% in the prior-year quarter. Quest's GAAP net loss was $1.7 million, an improvement from a $9.5 million net loss in Q4 2024. Adjusted EBITDA was $2.1 million, up from $1.7 million a year earlier. For the full fiscal year 2025, revenue was $250.2 million, a 13.3% decrease, and gross profit was $42.5 million, a 14.9% decline. The company reduced debt by $13.2 million, or 16.4%, during the year.

  • Quest reported its Q4 and full-year 2025 financial results on March 12, 2026.

The players

Quest Resource Holding Corporation

A national provider of waste and recycling services that helps larger businesses achieve their environmental and sustainability goals.

Dan M. Friedberg

Chairman of Quest's Board of Directors.

Perry W. Moss

Chief Executive Officer of Quest.

Brett Johnston

Chief Financial Officer of Quest.

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What they’re saying

“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.”

— Dan M. Friedberg, Chairman of the Company's Board of Directors

“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 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.”

— Perry W. Moss, Chief Executive Officer

“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.”

— Brett Johnston, Chief Financial Officer

What’s next

Quest plans to host an earnings conference call on Thursday, March 12, 2026 at 5:00 PM ET to review the financial results.

The takeaway

Despite the challenging macroeconomic environment, Quest's strategic initiatives to drive operational efficiency and expand its customer base are showing signs of progress, positioning the company for potential improvement in 2026 as it continues to navigate the current pressures on the business.