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Financials · ARQ

Arq Inc. (ARQ) financials

For the twelve months ended Sep 30, 2026, Arq Inc. reported $126.58M of revenue and -$48.69M of net income.

Revenue, TTM
$126.58M
Revenue growth, YoY
+7.3%
Net income, TTM
-$48.69M
Net margin
-38.5%
Free cash flow, TTM
$1.39M
EPS, diluted, TTM
-$1.17
Cash
$7.75M
Total debt
$28.22M
P/S
0.88
Market cap
$111.6M
Annual revenue$120.34M
FY2016FY2025
Annual net income-$52.61M
FY2016FY2025
Annual free cash flow-$11.31M
FY2016FY2025

ARQ revenue and earnings growth

ARQ revenueQ3 2026$38.21M

Quarter YoY
+8.9%
QoQ
+27.9%
FY YoY
+10.4%
5Y CAGR
+12.3%
10Y CAGR
+6.7%

ARQ revenue was $38.21M in fiscal Q3 2026 (ended Sep 30, 2026), up 8.9% from a year earlier and up 27.9% from the prior quarter. For the full fiscal 2025 it was $120.34M, up 10.4% from fiscal 2024. Compound annual growth was +12.3% over 5 years and +6.7% over 10 years. It rose in 5 of the last 10 fiscal years. Fiscal 2025 is the highest of the 14 fiscal years on file.

ARQ net incomeQ3 2026$2.50M

ARQ net income was $2.50M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$889.0K a year earlier. For the full fiscal 2025 it was -$52.61M, compared with -$5.11M in fiscal 2024.

ARQ EPSQ3 2026$0.06

ARQ diluted EPS was $0.06 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.02 a year earlier. For the full fiscal 2025 it was -$1.27, compared with -$0.14 in fiscal 2024.

ARQ free cash flowQ3 2026$9.56M

Quarter YoY
+208.5%

ARQ free cash flow was $9.56M in fiscal Q3 2026 (ended Sep 30, 2026), up 208.5% from a year earlier. For the full fiscal 2025 it was -$11.31M, compared with -$74.69M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$120.34M$108.96M$99.18M$102.99M$100.29M$67.36M$70.09M$23.95M$45.36M$50.62M
Cost of revenue$86.80M$69.52M$67.32M-----$3.43M$1.70M
Gross profit$33.53M$39.44M$31.86M-----$41.93M$48.92M
Research and development$7.34M$4.05M$3.31M$2.10M$400.0K$1.00M$200.0K-$157.0K-$648.0K
Selling, general and admin$22.55M$28.70M$34.07M$8.14M$7.06M$8.23M$8.12M$4.18M$4.01M$3.72M
Operating income-$52.96M-$1.96M-$13.34M-$12.07M$4.85M-$40.98M-$14.89M-$6.40M-$4.14M-$16.10M
Interest expense$2.45M$3.26M$3.01M$336.0K$1.49M$3.92M$7.17M$2.15M$3.02M$5.07M
Pre-tax income-$52.60M-$5.27M-$12.10M-$8.71M$76.07M-$13.79M$47.54M$45.88M$52.02M$36.74M
Income tax$12.0K-$164.0K$153.0K$209.0K$15.67M$6.51M$12.00M$10.42M$24.15M-$60.94M
Net income-$52.61M-$5.11M-$12.25M-$8.92M$60.40M-$20.30M$35.54M$35.45M$27.87M$97.68M
EPS, basic-$1.27-$0.14-$0.42-$0.48$3.31-$1.12$1.96$1.78$1.30$4.40
EPS, diluted-$1.27-$0.14-$0.42-$0.48$3.27-$1.12$1.93$1.76$1.29$4.34
Diluted shares41.5M36.1M29.1M18.5M18.5M18.0M18.4M20.0M21.4M22.2M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$6.57M$22.23M$54.15M$76.43M$88.78M$35.93M$17.08M$23.77M$30.69M$26.94M
Receivables$14.98M$14.88M$16.19M$13.86M$12.62M$13.13M$7.43M$9.55M$1.11M$4.09M
Inventory$15.89M$19.31M$19.69M$17.83M$7.85M$9.88M$15.46M$21.79M$74.0K$16.0K
Current assets$43.85M$52.36M$86.46M$105.66M$108.37M$61.99M$47.05M$59.78M$36.89M$38.91M
Total assets$230.97M$284.37M$235.50M$181.16M$185.44M$146.67M$173.80M$159.66M$82.62M$107.30M
Current liabilities$42.30M$44.65M$23.05M$23.88M$22.62M$42.54M$39.31M$40.72M$6.88M$23.71M
Short-term debt$20.01M$15.45M$2.65M$1.13M$1.01M$18.44M$23.93M$24.07M-$0
Long-term debt$8.45M$9.37M$18.27M$3.45M$3.15M$5.45M$20.43M$50.06M--
Total debt$28.46M$24.82M$20.93M$4.58M$4.16M$23.89M$44.37M$74.13M$0-
Total liabilities$62.62M$67.09M$57.10M$41.19M$38.13M$61.46M$65.51M$91.72M$9.16M$31.13M
Shareholders' equity$168.36M$218.61M$178.40M$139.98M$147.30M$85.21M$108.29M$67.95M$73.45M$76.17M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$2.73M$10.48M-$16.65M-$6.06M$26.00M$54.05M$62.26M-$9.89M-$11.75M-$18.26M
Capital expenditures$8.58M$85.17M$27.52M$8.91M$6.20M$6.68M$7.85M$467.0K$428.0K$289.0K
Free cash flow-$11.31M-$74.69M-$44.17M-$14.97M$19.80M$47.36M$54.41M-$10.36M-$12.18M-$18.55M
Investing cash flow-$8.16M-$85.07M-$28.54M-$4.61M$44.38M-$7.47M-$13.24M-$16.54M$48.39M$39.90M
Financing cash flow$3.70M$42.68M$22.91M-$1.68M-$17.53M-$27.73M-$55.72M$19.51M-$32.89M-$15.67M
Dividends paid--$0$45.0K$93.0K$4.98M$18.27M$20.16M$15.69M$0
Share repurchases----$0$159.0K$5.79M$25.34M$16.40M$0
Stock-based compensation$3.36M$2.71M$2.65M$1.98M$1.93M$2.50M$2.01M$2.49M$2.21M$2.87M
Depreciation and amortization$11.75M$8.59M$10.54M$6.42M$7.93M$8.54M$7.37M$723.0K$789.0K$979.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY10.4%9.9%-3.7%2.7%48.9%-3.9%192.7%-47.2%-10.4%-19.3%
Net income growth, YoY------0.2%27.2%-71.5%-
EPS growth, YoY------9.7%36.4%-70.3%-
Gross margin27.9%36.2%32.1%-----92.4%96.6%
Operating margin-44.0%-1.8%-13.4%-11.7%4.8%-60.8%-21.2%-26.7%-9.1%-31.8%
Net margin-43.7%-4.7%-12.3%-8.7%60.2%-30.1%50.7%148.1%61.4%193.0%
Free cash flow margin-9.4%-68.6%-44.5%-14.5%19.7%70.3%77.6%-43.2%-26.8%-36.6%
Return on equity-31.2%-2.3%-6.9%-6.4%41.0%-23.8%32.8%52.2%37.9%128.2%
Return on assets-22.8%-1.8%-5.2%-4.9%32.6%-13.8%20.4%22.2%33.7%91.0%
Current ratio1.041.173.754.424.791.461.201.475.361.64
Debt to equity0.170.110.120.030.030.280.411.090.00-

Source: XBRL data Arq Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ARQ peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ARQ$126.58M+7.3%-$48.69M-38.5%$111.6M
LIN$36.24B+8.2%$7.01B19.3%$236.54B
APD$12.60B+4.5%-$47.30M-0.4%$67.88B
DOW$42.61B+4.2%-$897.00M-2.1%$22.73B
IFF$11.69B+24.3%$182.00M1.6%$20.69B
LYB$31.96B+3.5%$1.30B4.1%$19.63B
DD$7.06B+3.2%$301.00M4.3%$19.42B
ALB$6.15B+24.4%$681.63M11.1%$11.71B
SOLS$4.17B+9.4%$325.00M7.8%$9.12B

ARQ FAQ

9 questions
  • What is ARQ revenue?
    Arq Inc. (ARQ) reported $126.58M of revenue for the twelve months ended Sep 30, 2026. That is up 7.3% from the year before. Revenue for fiscal 2025 was $120.34M.
  • Is ARQ profitable?
    No. Arq Inc. reported a net loss of $48.69M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does ARQ have?
    Arq Inc. reported $7.75M in cash and cash equivalents and $28.22M of debt on its most recent balance sheet in SEC filings.
  • How fast is ARQ revenue growing?
    Arq Inc.'s revenue changed +10.4% in fiscal 2025, to $120.34M. Its compound annual growth rate was +12.3% over 5 years and +6.7% over 10 years.
  • What is ARQ gross margin?
    Arq Inc.'s gross profit was $40.61M on $126.58M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 32.1%.
  • What is ARQ free cash flow?
    Arq Inc. generated $1.39M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $4.93M less capital expenditures.
  • What is ARQ earnings per share?
    Diluted earnings per share were -$1.17 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did ARQ last report financial results?
    The latest statements here come from Arq Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this ARQ financial data come from?
    Quantisnow builds these statements from the structured XBRL data Arq Inc. files with the SEC. It is provided for information only and is not investment advice.