Arq, Inc. Files Q2 2024 10-Q

TL;DR

Arq, Inc. 10-Q filed: Q2 2024 financials out. Check for debt and cash flow.

AI Summary

Arq, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Advanced Emissions Solutions, Inc., reported on its financial performance and condition. Key financial data and business operations for the second quarter of 2024 are detailed in this filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Arq, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company's specific financial details and industry performance could introduce medium-level risk.

Key Numbers

• 2024 Q2 — Reporting Period (Financials for the second quarter of 2024 are detailed.)
• 2023-12-31 — Previous Year End (Comparison point for financial performance.)

Key Players & Entities

• Arq, Inc. (company) — Filer of the 10-Q
• Advanced Emissions Solutions, Inc. (company) — Former name of Arq, Inc.
• 20240630 (date) — End of the reporting period
• 20240812 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — ich registered Common stock, par value $0.001 per share ARQ Nasdaq Global Market In

Filing Documents

• ades-20240630.htm (10-Q) — 1136KB
• exhibit31120240630-10q.htm (EX-31.1) — 8KB
• exhibit31220240630-10q.htm (EX-31.2) — 8KB
• exhibit32120240630-10q.htm (EX-32.1) — 6KB
• exhibit951minesafetyq22024.htm (EX-95.1) — 16KB
• 0001515156-24-000144.txt ( ) — 6828KB
• ades-20240630.xsd (EX-101.SCH) — 47KB
• ades-20240630_cal.xml (EX-101.CAL) — 81KB
• ades-20240630_def.xml (EX-101.DEF) — 290KB
• ades-20240630_lab.xml (EX-101.LAB) — 598KB
• ades-20240630_pre.xml (EX-101.PRE) — 443KB
• ades-20240630_htm.xml (XML) — 920KB

- FINANCIAL INFORMATION

PART I. - FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and June 30, 2023 2 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and June 30, 2023 3 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and June 30, 2023 4 Notes to Condensed Consolidated Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 30

- OTHER INFORMATION

PART II. - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1a.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 4. Mine Safety Disclosures 32 Item 6. Exhibits 33

– FINANCIAL INFORMATION

Part I. – FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Arq, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) As of (in thousands, except share data) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash $ 28,478 $ 45,361 Receivables, net 15,812 16,192 Inventories, net 22,648 19,693 Prepaid expenses and other current assets 4,280 5,215 Total current assets 71,218 86,461 Restricted cash, long-term 8,719 8,792 Property, plant and equipment, net of accumulated depreciation of $ 23,233 and $ 19,293 , respectively 123,407 94,649 Other long-term assets, net 45,238 45,600 Total Assets $ 248,582 $ 235,502 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 16,795 $ 14,603 Current portion of debt obligations 2,419 2,653 Other current liabilities 7,393 5,792 Total current liabilities 26,607 23,048 Long-term debt obligations, net of current portion 17,978 18,274 Other long-term liabilities 14,397 15,780 Total Liabilities 58,982 57,102 Commitments and contingencies (Note 7) Stockholders' equity: Preferred stock: par value of $ 0.001 per share, 50,000,000 shares authorized, none issued or outstanding — — Common stock: par value of $ 0.001 per share, 100,000,000 shares authorized, 40,614,642 and 37,791,084 shares issued, and 35,996,496 and 33,172,938 shares outstanding at June 30, 2024 and December 31, 2023, respectively 41 38 Treasury stock, at cost: 4,618,146 and 4,618,146 shares as of June 30, 2024 and December 31, 2023, respectively ( 47,692 ) ( 47,692 ) Additional paid-in capital 171,095 154,511 Retained earnings 66,156 71,543 Total Stockholders' Equity 189,600 178,400 Total Liabilities and Stockholders' Equity $ 248,582 $ 235,502 See Notes to the Condensed Consolidated Financial Statements 1 Arq, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (in thousands, exc

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View this 10-Q filing on SEC EDGAR