The following is a summary of the Quest Resource Holding Corporation (QRHC) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 2024 revenue was $73.1 million, marking a decrease of 2% year-over-year, but a sequential growth of 1% from Q1 2024.

• EBITDA for the second quarter was over $5 million, continuing the positive performance from the previous quarter.

• Gross profit for Q2 remained flat at $13.5 million compared to the previous year, due to client-related delays and lower volumes from a significant industrial client.

• SG&A expenses for Q2 2024 were $9.4 million, showing a modest increase from the previous year.

Business Progress:

• Quest Resource continued to expand its client base, adding three 7-figure expansions with existing clients during the quarter.

• Investments in AP automation and technology aimed at increasing invoice processing efficiency have been significantly successful, with about three-quarters of vendors now processed through the new platform.

• The company increased its borrowing capacity to $35 million and integrated more compactors to boost its asset service profile.

Opportunities:

• Continued growth opportunities in existing and new client bases, including potential expansion into additional states with existing large retail clients.

• Quest's technology investments, such as AP automation and expanded data services, improve operational efficiencies and client servicing capabilities, providing a competitive advantage in attracting new customers.

Risks:

• Temporary revenue and volume reductions from a major industrial client due to a market slowdown could impact financial performance in the short term.

More details: Quest Resource Holding IR

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