Monitor Q3 2026 for continued margin expansion and any updates on the GAC strategic review and PAC for PFAS commercial milestones. The low unrestricted cash ($3.1M) and $21.4M revolver draw warrant attention to liquidity, but the operational turnaround in the PAC business is encouraging.
Price Chart
Executive Summary
Arq reported Q2 2026 revenue of $29.9M (up 5% YoY) and Adjusted EBITDA of $5.8M (up 59% YoY), driven by improved pricing and margins in its core PAC business. EPS of -$0.02 missed consensus estimates of $0.00, but the company reaffirmed full-year 2026 guidance of $120-125M revenue and $17-20M Adjusted EBITDA. The strategic GAC optimization review remains ongoing, and early progress on the PAC for PFAS product was highlighted.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of $29.9M, up 5% from $28.6M in Q2 2025
- Gross margin expanded 520 bps to 38.5% from 33.3%
- Adjusted EBITDA grew 59% to $5.8M from $3.7M
- Net loss narrowed to $0.7M from $2.4M (as adjusted)
- EPS of -$0.02 missed consensus of $0.00
- Full-year 2026 guidance reaffirmed: revenue $120-$125M, Adj. EBITDA $17-$20M
- Unrestricted cash ~$3.1M as of July 31, total debt $30.7M including revolver
- Red River Plant turnaround completed under budget in April 2026
Financial Impact
Adjusted EBITDA improved $2.1M YoY to $5.8M, gross margin up 520 bps, revenue up 5%
Risk Factors
- High total debt of $30.7M with limited unrestricted cash ($0.9M at quarter-end, improved to ~$3.1M after period)
- GAC optimization review still ongoing with no finalized capital plan or timeline
- PAC for PFAS product still in testing phase with no revenue contribution until at least 2027
- EPS missed consensus, indicating Street expectations may not fully reflect earnings trajectory
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001515156-26-000116 |
| Document: arq-20260810.htm | 0001515156-26-000116 |
| Document: 0001515156-26-000116-index-headers.html | 0001515156-26-000116 |
| Document: 0001515156-26-000116-index.html | 0001515156-26-000116 |
| Document: 0001515156-26-000116.txt | 0001515156-26-000116 |
| 8-K Data (Synthetic) | 0001515156-26-000116 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 30, 2026 26d ago | Press Release | $1.89 | awaiting T+60 | — | $1.74 (−7.94%) |
Aug 10, 2026 11w ago | 8-K | $2.27 | awaiting T+60 | — | $1.74 (−23.35%) |
Aug 10, 2026 11w ago | Press Release | $2.27 | awaiting T+60 | — | $1.74 (−23.35%) |
Jul 23, 2026 13w ago | 8-K | $2.03 $1.78 | ▼ −12.10% | ▼ −15.83% | $1.74 (−14.07%) |
Jun 18, 2026 18w ago | 8-K | $2.58 $2.07 | ▼ −19.77% | ▼ −21.51% | $1.74 (−32.56%) |
Jun 11, 2026 19w ago | 8-K | $2.68 $2.21 | ▼ −17.54% | ▼ −20.80% | $1.74 (−35.07%) |
May 27, 2026 21w ago | 8-K | $2.75 $2.30 | ▼ −16.36% | ▼ −18.10% | $1.74 (−36.73%) |
May 6, 2026 24w ago | 8-K | $2.59 $2.01 | ▼ −22.39% | ▼ −26.23% | $1.74 (−32.82%) |
May 1, 2026 25w ago | 8-K | $2.45 $1.94 | ▼ −20.82% | ▼ −22.67% | $1.74 (−28.98%) |
Apr 28, 2026 25w ago | DEFA14A | $2.23 $2.03 | ▼ −9.19% | ▼ −13.30% | $1.74 (−21.97%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers