Filing Flows › Arq (ARQ) › Q4 2025
Arq (ARQ) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 10, 2026
Arq (ARQ) reported revenue of $29.4M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and -16% from the quarter before. Operating margin was -174.1%, net loss $50.0M (170.0% of revenue).
Arq, Q4 2025: revenue $29.4M (+9% year over year), operating margin -174.1%, net loss $50.0M, operating cash flow −$2.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $29.4M | -16% | +9% |
| Operating profit | −$51.2M | — | — |
| Net earnings | −$50.0M | — | — |
| Operating cash flow | −$2.8M | -152% | — |
What changed
Revenue was $29.4M in Q4 2025, up 9% year over year and down 16% from the previous quarter.
Operating costs exceeded revenue by $51.2M, an operating margin of -174.1%. Total costs grew 203% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+1666%). The quarter ended with a net loss of $50.0M, wider than the previous quarter's $653K loss.
Operating cash flow was −$2.8M. Non-cash charges added back $3.3M of depreciation and amortization and $840K of share-based compensation. Working capital and other items added $43.1M. Capital expenditures of $783K exceeded it, leaving free cash flow of −$3.5M.
Questions
What was Arq's revenue in the fourth quarter 2025?
Arq (ARQ) reported revenue of $29.4M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and -16% from the quarter before.
Was Arq profitable in the fourth quarter 2025?
Operating loss was $51.2M (-174.1% of revenue) and net loss $50.0M.
Source: Arq 10-K on SEC EDGAR.