# Arq Inc. (ARQ)

**Exchange:** NASDAQ  
**Sector:** Industrials  
**Market cap:** $111M  
**Price:** $2.67 (-0.74%)

> Arq Inc. is a diversified environmental technology company that produces and sells activated carbon products and related solutions to remove harmful chemicals and pollutants from water, air, and soil. Its portfolio includes powdered activated carbon, granular activated carbon, colloidal carbon products, Arq Powder Wetcake—a fine, low-ash coal waste-derived particle—and additives for air emissions control. These consumable treatments serve applications such as water treatment, groundwater remediation, soil sediments, air emissions control, and asphalt additives. As the only vertically integrated producer of activated carbon in North America, Arq Inc. provides a reliable domestic supply of innovative, hard-to-source products to industrial manufacturers, municipal water treatment facilities, and environmental service providers, primarily in the United States and Canada. The company operates a direct business-to-business model, focusing on sectors like clean technology, pollution control, and advanced materials. Founded in 1997 and headquartered in Greenwood Village, Colorado, Arq Inc. plays a key role in supporting environmental compliance and remediation efforts across North American markets.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $120M | $34M | -$53M | -$53M | — |
| 2024 | $109M | $39M | -$2M | -$5M | — |
| 2023 | $99M | $32M | -$13M | -$12M | — |
| 2022 | $103M | — | -$12M | -$9M | — |
| 2021 | $100M | — | $5M | $60M | — |
| 2020 | $67M | — | -$41M | -$20M | — |
| 2019 | $70M | — | -$15M | $36M | — |
| 2018 | $24M | — | -$6M | $35M | — |
| 2017 | $45M | $42M | -$4M | $28M | — |
| 2016 | $51M | $49M | -$16M | $98M | — |
| 2015 | $63M | $62M | -$42M | -$30M | — |
| 2014 | $17M | $17M | -$42M | $1M | — |
| 2013 | $13M | $9M | -$32M | -$16M | — |
| 2012 | $16M | $11M | -$15M | -$13M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $231M | $63M | $168M | $7M | $29M |
| 2024 | $284M | $67M | $217M | $14M | $25M |
| 2023 | $236M | $57M | $178M | $45M | $23M |
| 2022 | $181M | $41M | $140M | $66M | $5M |
| 2021 | $185M | $38M | $147M | $79M | $3M |
| 2020 | $147M | $61M | $85M | — | $5M |
| 2019 | $174M | $66M | $108M | $12M | $20M |
| 2018 | $160M | $92M | $68M | $19M | $50M |
| 2017 | $83M | $9M | $73M | $31M | — |
| 2016 | $107M | $31M | $76M | $13M | — |
| 2015 | $61M | $86M | -$25M | $9M | — |
| 2014 | $94M | $94M | -$697,000 | $25M | — |
| 2013 | $74M | $80M | -$6M | $38M | — |
| 2012 | $76M | $56M | -$16M | $8M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$3M | — | — |
| 2024 | $10M | — | — |
| 2023 | -$17M | — | — |
| 2022 | -$6M | — | — |
| 2021 | $26M | — | — |
| 2020 | $54M | — | — |
| 2019 | $62M | — | — |
| 2018 | -$10M | — | — |
| 2017 | -$12M | $485,000 | -$12M |
| 2016 | -$18M | $289,000 | -$19M |
| 2015 | -$30M | $507,000 | -$30M |
| 2014 | -$40M | $2M | -$42M |
| 2013 | -$10M | $2M | -$12M |
| 2012 | -$16M | $4M | -$20M |

Source: [CompaniesByCap](https://companiesbycap.com/company/ARQ)