ARQ on Nasdaq
Arq, Inc.
Miscellaneous chemical products company, listed on Nasdaq (ARQ)1
In its 2026 annual report the company says: “Arq, Inc., together with its consolidated subsidiaries is an environmental technology company principally engaged in the sale of consumable air, water, and soil treatment solutions, primarily based on activated carbon. Our proprietary AC products enable customers to reduce air, water, and soil contaminants, including mercury, per - and polyfluoroalkyl substances and other pollutants, to meet the challenges of existing and pending air quality and water regulations.”3 It is headquartered in Greenwood Village, Colorado.1
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Last updated Oct 21, 2026.
Overview
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- TickerARQ on Nasdaq1
- IndustryMiscellaneous Chemical Products1
- HeadquartersGreenwood Village, Colorado1
- Business address8051 E. Maplewood Ave., Ste 210, Greenwood Village, Co 801112
- Filer categoryAccelerated filer, Smaller reporting company2
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Arq, Inc., together with its consolidated subsidiaries ("Arq", the "Company," "we," "us", or "our") is an environmental technology company principally engaged in the sale of consumable air, water, and soil treatment solutions, primarily based on activated carbon ("AC"). Our proprietary AC products enable customers to reduce air, water, and soil contaminants, including mercury, per - and polyfluoroalkyl substances ("PFAS") and other pollutants, to meet the challenges of existing and pending air quality and water regulations. We manufacture and sell AC and other chemicals used to capture and remove impurities, contaminants and pollutants for the coal-fired power generation, industrial, water treatment, and water and soil remediation markets, which we collectively refer to as the advanced purification technologies ("APT") market.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Regions
United States brought in 93% of the revenue Arq, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2024 | 2025 |
|---|---|---|
| United States | $101.1M | $111.4M |
| CA [member] | $7.9M | $8.9M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue72¢$86.8M
- Research and development6¢$7.3M
- Selling, general and admin19¢$22.6M
- Other costs3¢$3.6M
Out of $120.3M in revenue.45 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue | $120.3M | $109.0M |
| Cost of revenue, exclusive of depreciation and amortization | $86.8M | $69.5M |
| Selling, general and administrative | $22.6M | $28.7M |
| Research and development | $7.3M | $4.0M |
| Depreciation, amortization, depletion and accretion | $11.7M | $8.6M |
| Impairment of long-lived assets | $44.8M | $0 |
| Loss on sale of assets | $96.0K | $64.0K |
| Total operating expenses | $86.5M | $41.4M |
| Operating loss | -$53.0M | -$2.0M |
| Earnings from equity method investment | $2.0M | $127.0K |
| Interest expense | -$2.4M | -$3.3M |
| Loss on extinguishment of debt | $0 | -$1.4M |
| Other income | $858.0K | $1.2M |
| Total other income (expense) | $360.0K | -$3.3M |
| Loss before income taxes | -$52.6M | -$5.3M |
| Income tax expense (benefit) | $12.0K | -$164.0K |
| Net loss | -$52.6M | -$5.1M |
| Basic (in dollars per share) | -$1.27 | -$0.14 |
| Diluted (in dollars per share) | -$1.27 | -$0.14 |
| Basic (in shares) | 41.5M shares | 36.1M shares |
| Diluted (in shares) | 41.5M shares | 36.1M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $6.6M | $13.5M | |
| Receivables, net | $15.0M | $14.9M | |
| Inventories, net | $15.9M | $19.3M | |
| Prepaid expenses and other current assets | $6.4M | $4.7M | |
| Total current assets | $43.9M | $52.4M | |
| Restricted cash, long-term | $8.5M | $8.7M | |
| Property, plant and equipment, net of accumulated depreciation of $28,375 and $26,619, respectively | $143.2M | $178.6M | |
| Other long-term assets, net | $35.1M | $44.7M | |
| Total Assets | $230.6M | $284.4M | |
| Accounts payable and accrued expenses | $15.3M | $21.0M | |
| Revolving credit facility | $18.9M | $13.8M | |
| Current portion of long-term debt obligations | $1.1M | $1.6M | |
| Other current liabilities | $7.0M | $8.2M | |
| Total current liabilities | $42.3M | $44.7M | |
| Long-term debt obligations, net of current portion | $8.5M | $9.4M | |
| Other long-term liabilities | $11.9M | $13.1M | |
| Total Liabilities | $62.6M | $67.1M | |
| Preferred stock: par value of $0.001 per share, 50,000,000 shares authorized, none issued or outstanding | $0 | $0 | |
| Common stock: par value of $0.001 per share, 100,000,000 shares authorized, 47,348,394 and 46,639,930 shares issued, and 42,730,248 and 42,021,784 shares outstanding at December 31, 2025 and 2024, respectively | $47.0K | $47.0K | |
| Treasury stock, at cost: 4,618,146 and 4,618,146 shares as of December 31, 2025 and 2024, respectively | -$47.7M | -$47.7M | |
| Additional paid-in capital | $201.8M | $198.5M | |
| Retained earnings | $13.8M | $66.4M | |
| Total Stockholders Equity | $168.0M | $217.3M | $178.4M |
| Total Liabilities and Stockholders Equity | $230.6M | $284.4M | |
| Accumulated depreciation | $28.4M | $26.6M | |
| Preferred stock par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | |
| Common stock, shares issued (in shares) | 47.3M shares | 46.6M shares | |
| Common stock, shares outstanding (in shares) | 42.7M shares | 42.0M shares | |
| Treasury stock (in shares) | 4.6M shares | 4.6M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $6.6M | $13.5M | |
| Receivables, net | $15.0M | $14.9M | |
| Inventories, net | $15.9M | $19.3M | |
| Prepaid expenses and other current assets | $6.4M | $4.7M | |
| Total current assets | $43.9M | $52.4M | |
| Restricted cash, long-term | $8.5M | $8.7M | |
| Property, plant and equipment, net of accumulated depreciation of $28,375 and $26,619, respectively | $143.2M | $178.6M | |
| Other long-term assets, net | $35.1M | $44.7M | |
| Total Assets | $230.6M | $284.4M | |
| Accounts payable and accrued expenses | $15.3M | $21.0M | |
| Revolving credit facility | $18.9M | $13.8M | |
| Current portion of long-term debt obligations | $1.1M | $1.6M | |
| Other current liabilities | $7.0M | $8.2M | |
| Total current liabilities | $42.3M | $44.7M | |
| Long-term debt obligations, net of current portion | $8.5M | $9.4M | |
| Other long-term liabilities | $11.9M | $13.1M | |
| Total Liabilities | $62.6M | $67.1M | |
| Preferred stock: par value of $0.001 per share, 50,000,000 shares authorized, none issued or outstanding | $0 | $0 | |
| Common stock: par value of $0.001 per share, 100,000,000 shares authorized, 47,348,394 and 46,639,930 shares issued, and 42,730,248 and 42,021,784 shares outstanding at December 31, 2025 and 2024, respectively | $47.0K | $47.0K | |
| Treasury stock, at cost: 4,618,146 and 4,618,146 shares as of December 31, 2025 and 2024, respectively | -$47.7M | -$47.7M | |
| Additional paid-in capital | $201.8M | $198.5M | |
| Retained earnings | $13.8M | $66.4M | |
| Total Stockholders Equity | $168.0M | $217.3M | $178.4M |
| Total Liabilities and Stockholders Equity | $230.6M | $284.4M | |
| Accumulated depreciation | $28.4M | $26.6M | |
| Preferred stock par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | |
| Common stock, shares issued (in shares) | 47.3M shares | 46.6M shares | |
| Common stock, shares outstanding (in shares) | 42.7M shares | 42.0M shares | |
| Treasury stock (in shares) | 4.6M shares | 4.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$52.6M | -$5.1M |
| Impairment of long-lived assets | $44.8M | $0 |
| Depreciation, amortization, depletion and accretion | $11.7M | $8.6M |
| Stock-based compensation expense | $3.4M | $2.7M |
| Operating lease expense | $2.4M | $2.0M |
| Amortization of debt discount and debt issuance costs | $359.0K | $601.0K |
| Loss on sale of long-term assets, net | $96.0K | $64.0K |
| Loss from extinguishment of debt | $0 | $1.4M |
| Earnings from equity method investment | -$2.0M | -$127.0K |
| Other non-cash items, net | -$678.0K | $37.0K |
| Receivables | -$104.0K | $1.3M |
| Prepaid expenses and other assets | -$2.0M | $1.2M |
| Inventories | $3.2M | $1.6M |
| Other long-term assets, net | -$4.1M | -$2.2M |
| Accounts payable and accrued expenses | -$6.7M | $216.0K |
| Other current liabilities | -$260.0K | $1.1M |
| Operating lease liabilities | $205.0K | -$1.3M |
| Other long-term liabilities | -$481.0K | -$1.8M |
| Net cash (used in) provided by operating activities | -$2.7M | $10.5M |
| Acquisition of property, plant, equipment and intangible assets, net | -$8.6M | -$85.2M |
| Acquisition of mine development costs | -$531.0K | -$181.0K |
| Proceeds from insurance recovery related to property and equipment | $685.0K | $0 |
| Distributions from equity method investee in excess of cumulative earnings | $251.0K | $127.0K |
| Proceeds from sale of property and equipment | $10.0K | $150.0K |
| Net cash used in investing activities | -$8.2M | -$85.1M |
| Borrowings on revolving credit facility | $128.9M | $13.8M |
| Repayments of revolving credit facility | -$123.8M | $0 |
| Principal payments on notes payable | -$914.0K | -$10.5M |
| Principal payments on finance lease obligations | -$447.0K | -$1.0M |
| Repurchase of common stock to satisfy tax withholdings | -$66.0K | -$1.1M |
| Net proceeds from common stock issued in private placement transactions | $0 | $15.0M |
| Payment of debt issuance costs | $0 | -$633.0K |
| Payment of debt extinguishment costs | $0 | -$220.0K |
| Net cash provided by financing activities | $3.7M | $42.7M |
| Decrease in Cash and Restricted Cash | -$7.2M | -$31.9M |
| Cash paid for interest | $661.0K | $2.0M |
| Cash received for income taxes | -$27.0K | -$100.0K |
| Change in accrued purchases for property and equipment | $949.0K | $6.2M |
| Purchase of property and equipment through note payable | $0 | $1.0M |
No quarter-by-quarter statement was filed.
Corporate structure
Arq, Inc. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Arq, Inc.
- Orin Hirschman Filed SCHEDULE 13G/A on Arq, Inc., latest Apr 27, 2026 (4 filings since May 30, 2024)
- Daniel Louis Kaufman Filed SCHEDULE 13G on Arq, Inc., latest Mar 12, 2026
- Julian Alexander McIntyre Filed SC 13D/A on Arq, Inc., latest Jan 31, 2024 (2 filings since Mar 13, 2023)
- Jeremy Blank Filed SC 13D/A on Arq, Inc., latest Jul 24, 2023 (2 filings since Mar 20, 2023)
- Arq Ltd Filed SC 13D/A on Arq, Inc., latest Mar 13, 2023 (2 filings since Feb 14, 2023)
- Apollo Management Holdings GP, LLC Filed SC 13G/A on Arq, Inc., latest Feb 14, 2022
- ADAGE CAPITAL PARTNERS GP, L.L.C. Filed SC 13G/A on Arq, Inc., latest Feb 10, 2022
- Arq, Inc. Greenwood Village, Colorado
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Arq, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finance-lease assets | $276.0K4 Dec 31, 2025 | $824.0K4 Dec 31, 2024 | −66.5% |
| Operating-lease assets (leased space) | $6.8M4 Dec 31, 2025 | $9.3M4 Dec 31, 2024 | −27.1% |
Investments
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $570.0K4 Dec 31, 2025 | $7.6M4 Dec 31, 2024 | −92.5% |
| Finite-lived intangibles, gross | $1.8M4 Dec 31, 2025 | $10.0M4 Dec 31, 2024 | −82.4% |
| Finite-lived intangibles, net | $570.0K4 Dec 31, 2025 | $7.6M4 Dec 31, 2024 | −92.5% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $15.9M4 Dec 31, 2025 | $19.3M4 Dec 31, 2024 | −17.7% |
| Finished goods | $10.4M4 Dec 31, 2025 | $11.2M4 Dec 31, 2024 | −6.8% |
Properties, in its own words
Office and Facilities
We own or lease land and facilities in the following States:
The rest of Item 2
Colorado - We lease approximately 24,000 square feet for our corporate headquarters and primary research and development laboratory, located in Greenwood Village, Colorado.
Louisiana - We own the Red River Plant, which is located on approximately 61 acres in Coushatta, Louisiana. We also lease approximately 141,000 square feet in various locations in Louisiana that are used for production, distribution and storage.
Kentucky - We lease approximately 470 acres in Corbin, Kentucky where we operate the Corbin Facility. During 2025, as a cost saving measure, we periodically idled the Corbin Facility, and it has been idled since January 1, 2026.
Mining
As of December 31, 2025, we owned or controlled, primarily through long-term leases, approximately 1,975 acres of land for surface coal mining located in Natchitoches Parish, Louisiana ("Five Forks"). The majority of the Five Forks land is leased for mineral rights and right-of-use purposes that expire at varying dates over the next 30 years and contain options to renew. The remaining land is owned by us.
We also have approximately 380 permitted acres of land at the Corbin Facility from which we recover bituminous coal fines, which is leased through August 31, 2030 and contains options to renew for successive five year terms until all merchantable fines are removed from the premises.
Based on the materiality and the vertically-integrated company guidelines contained in Regulation S-K of the Securities Act and the Exchange Act, we have concluded that no additional disclosures related to our mining operations are required under this Item.
Item 2 of the 10-K filed Mar 10, 2026.3
Leadership
Who has led Arq, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerRobert E. Rasmus Jul 19, 2023 to now12
- Chief executive officerGreg Marken Mar 25, 2021 to Mar 27, 202313
- Chief executive officerL. Heath Sampson Jun 9, 2015 to Mar 25, 202014
- Chief executive officerMichael D. Durham Aug 2, 2013 to Mar 5, 201515
- PresidentL. Heath Sampson Jun 9, 2015 to Mar 25, 202014
- PresidentMichael D. Durham Aug 2, 2013 to Mar 5, 201515
- Chief financial officerShimon Steinmetz Aug 4, 2026 to now16
- Chief financial officerJay Loring Voncannon Apr 4, 2025 to Aug 4, 202617
- Chief financial officerGreg Marken Mar 27, 2018 to Mar 25, 202018
- Chief financial officerAlan Bradley Gabbard Jun 16, 2015 to Jun 16, 201519
- Chief financial officerL. Heath Sampson Sep 5, 2014 to Mar 5, 201520
- Chief financial officerMark H. McKinnies Aug 2, 2013 to Aug 26, 201421
- Chief operating officerJeremy Williamson Sep 20, 2023 to now22
- Chief operating officerC. Jean Bustard Aug 2, 2013 to Aug 26, 201423
Board members and other officers (34)
- Chief Accounting OfficerPeter Oluoch Owino Jun 24, 2026 to now24
- Gen Counsel, Corp SecretaryClaiborne Benson Smith May 2, 2024 to now25
- Chief Accounting OfficerStacia Hansen Nov 15, 2023 to now26
- VP of AccountingMorgan Fields Apr 12, 2021 to Aug 21, 202327
- Chief Accounting OfficerChristine Bellino May 18, 2020 to May 18, 202028
- Chief Technology OfficerJoseph M. Wong Aug 20, 2019 to now29
- Chief Accounting OfficerGreg Marken Jun 22, 2016 to Jan 17, 201830
- VP Investor RelationsGraham O. Mattison Jul 18, 2013 to Mar 3, 201631
- VPCameron E. Martin Aug 2, 2013 to Nov 8, 201332
- Executive Vice PresidentJonathan R. Lagarenne Aug 2, 2013 to Jan 5, 201633
- VPRichard J. Schlager Aug 2, 2013 to Nov 8, 201334
- CTOSharon Sjostrom Aug 2, 2013 to Mar 27, 201835
- Board memberJeremy Blank Feb 3, 2023 to now36
- Board memberJulian Alexander McIntyre Feb 3, 2023 to now37
- Board memberRichard Campbell-Breeden Feb 3, 2023 to now38
- Board memberLaurie Bergman Jul 6, 2023 to now39
- Board memberRobert E. Rasmus Jul 19, 2023 to now12
- Board memberBrian Leen Mar 11, 2019 to Jul 6, 202040
- Board memberCarol S. Eicher May 9, 2019 to now41
- Board memberR. Carter Pate Jul 1, 2016 to Jul 6, 202042
- Board memberL. Heath Sampson Jun 9, 2015 to Mar 25, 202014
- Board memberMichael D. Durham Jan 7, 2014 to Mar 5, 201543
- Board memberTaylor Simonton May 30, 2014 to Jul 6, 202244
- Board memberAdam Gray Jul 30, 2014 to Jul 2, 201545
- Board memberChristopher S. Shackelton Jul 30, 2014 to Jul 2, 201545
- Board memberLouis Spencer Wells Aug 1, 2014 to Jul 3, 202446
- Board memberAlan Bradley Gabbard Jul 17, 2013 to Dec 8, 201747
- Board memberDerek Johnson Jul 18, 2013 to Jul 5, 201748
- Board memberKim B. Clarke Jul 18, 2013 to Jul 2, 201549
- Board memberW. Phillip Marcum Jul 18, 2013 to Jul 2, 201550
- Board memberPaul A. Lang Sep 6, 2013 to Sep 6, 201351
- Board memberMark H. McKinnies Dec 9, 2013 to Aug 26, 201452
- General counselTheodore James Sanders Mar 10, 2017 to Nov 23, 202153
- General counselChristine B. Amrhein Aug 2, 2013 to Jul 20, 201654
Former names
- Advanced Emissions Solutions, Inc.Mar 14, 2011 to Jan 31, 20242
Timeline
- Aug 28, 20268-K Executive or director change; Other events55
- Aug 10, 20268-K Results of operations56
- Jul 23, 20268-K Executive or director change57
- Jul 2, 20268-K Executive or director change58
- Jun 18, 20268-K Executive or director change59
- Jun 11, 20268-K Executive or director change; Shareholder vote60
- May 27, 20268-K Executive or director change; Other events61
- May 6, 20268-K Results of operations62
- May 1, 20268-K Executive or director change63
- Apr 17, 20268-K Entered a material agreement; Change to shareholders' rights64
- Apr 1, 20268-K Entered a material agreement65
- Mar 10, 20268-K Results of operations66
- Jul 19, 2023New chief executive Robert E. Rasmus becomes CEO12
- Mar 25, 2021New chief executive Greg Marken becomes CEO13
- Jun 9, 2015New chief executive L. Heath Sampson becomes CEO14
- Aug 2, 2013New chief executive Michael D. Durham becomes CEO15
Calendar
Coming up
- Nov 4, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported ($0.02) a share, on Nov 5, 2025.67
When it reported results
- Aug 10, 2026Reported quarterly or annual results56
- May 6, 2026Reported quarterly or annual results62
- Mar 10, 2026Reported quarterly or annual results66
- Nov 5, 2025Reported quarterly or annual results68
- Aug 11, 2025Reported quarterly or annual results69
- May 7, 2025Reported quarterly or annual results70
- Mar 5, 2025Reported quarterly or annual results71
- Feb 7, 2025Reported quarterly or annual results72
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
278 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 62 major events, 131 insider forms, 13 large holders, 52 other. The latest 20:
- Sep 17, 2026S-8 EDGAR
- Sep 10, 20264 EDGAR
- Sep 9, 20264 EDGAR
- Sep 8, 20264 EDGAR
- Sep 3, 20264 EDGAR
- Aug 28, 20268-K EDGAR
- Aug 18, 20264 EDGAR
- Aug 10, 20268-K EDGAR
- Aug 10, 202610-Q EDGAR
- Aug 4, 20264 EDGAR
- Aug 4, 20264 EDGAR
- Aug 4, 20264 EDGAR
- Aug 4, 20263 EDGAR
- Jul 23, 20264 EDGAR
- Jul 23, 20268-K EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
The 278 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
40 open-market trades by officers, directors and large owners since October 2021: 30 buys and 10 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 8, 2026 | Steinmetz ShimonChief Financial Officer | Buy | 2,972 | $2.34 | $7.0K | Form 4 |
| Sep 4, 2026 | Steinmetz ShimonChief Financial Officer | Buy | 5,758 | $2.27 | $13.1K | Form 4 |
| Sep 3, 2026 | Steinmetz ShimonChief Financial Officer | Buy | 16,270 | $2.23 | $36.2K | Form 4 |
| May 4, 2026 | Voncannon Jay LoringChief Financial Officer | Sale | 16,709 | $2.27 | $37.9K | Form 4 |
| Mar 23, 2026 | Campbell-Breeden RichardDirector | Buy | 150,000 | $2.21 | $331.5K | Form 4 |
| Mar 17, 2026 | Wong Joseph MChief Technology Officer | Buy | 10,000 | $1.89 | $18.9K | Form 4 |
| Mar 16, 2026 | Smith Claiborne BensonGen Counsel, Corp Secretary | Buy | 1,000 | $1.92 | $1.9K | Form 4 |
| Mar 13, 2026 | EICHER CAROL SDirector | Buy | 77,500 | $1.95 | $151.1K | Form 4 |
| Mar 12, 2026 | Smith Claiborne BensonGen Counsel, Corp Secretary | Buy | 1,000 | $1.92 | $1.9K | Form 4 |
| Nov 11, 2025 | Voncannon Jay LoringChief Financial Officer | Buy | 6,000 | $3.55 | $21.3K | Form 4 |
| Nov 11, 2025 | Campbell-Breeden RichardDirector | Buy | 28,638 | $3.54 | $101.4K | Form 4 |
| Nov 10, 2025 | Voncannon Jay LoringChief Financial Officer | Buy | 9,000 | $3.74 | $33.7K | Form 4 |
| Nov 10, 2025 | Rasmus Robert E.Chief Executive Officer | Buy | 50,000 | $3.79 | $189.5K | Form 4 |
| Aug 4, 2025 | Wong Joseph MChief Technology Officer | Sale | 3,052 | $5.20 | $15.9K | Form 4 |
| Aug 4, 2025 | Smith Claiborne BensonGen Counsel, Corp Secretary | Sale | 2,591 | $5.20 | $13.5K | Form 4 |
| Aug 4, 2025 | Hansen StaciaChief Accounting Officer | Sale | 2,742 | $5.20 | $14.3K | Form 4 |
| Aug 4, 2025 | Williamson JeremyChief Operating Officer | Sale | 1,782 | $5.20 | $9.3K | Form 4 |
| May 23, 2025 | Rasmus Robert E.Chief Executive Officer | Buy | 25,000 | $4.10 | $102.5K | Form 4 |
| May 23, 2025 | Blank JeremyDirector | Buy | 50,000 | $4.10 | $205.0K | Form 4 |
| May 23, 2025 | Campbell-Breeden RichardDirector | Buy | 75,000 | $4.10 | $307.5K | Form 4 |
All 40 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Orin HirschmanSCHEDULE 13G/A, 4 filings May 30, 2024 to Apr 27, 202673
- Daniel Louis KaufmanSCHEDULE 13G, 1 filing Mar 12, 202674
- Julian Alexander McIntyreSC 13D/A, 2 filings Mar 13, 2023 to Jan 31, 202475
- Jeremy BlankSC 13D/A, 2 filings Mar 20, 2023 to Jul 24, 202376
- Arq LtdSC 13D/A, 2 filings Feb 14, 2023 to Mar 13, 202377
- Apollo Management Holdings GP, LLCSC 13G/A, 1 filing Feb 14, 202278
- ADAGE CAPITAL PARTNERS GP, L.L.C.SC 13G/A, 1 filing Feb 10, 202279
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Jeremy Williamson | 46 | $361.5K | $831.2K80 |
| 2025 | Clay Smith | 45 | $320.0K | $723.7K80 |
| 2025 | Robert Rasmus | 68 | $50.0K | $143.0K80 |
| 2024 | Former Chief Operating Officer | $350.0K | $766.9K80 | |
| 2024 | General Counsel | $306.9K | $689.4K80 | |
| 2024 | PresidentChief Executive Officer and Director | $50.0K | $115.4K80 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 99. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Royce & Associates LP | 1,862,764 | $4.8M | 0.0% | +114,320 |
| Aqr Capital Management LLC | 1,814,114 | $4.6M | 0.0% | +728,404 |
| Vanguard Capital Management LLC | 1,464,532 | $3.7M | 0.0% | +33,082 |
| Marshall Wace, Llp | 880,201 | $2.2M | 0.0% | +70,496 |
| Peapod Lane Capital LLC | 787,880 | $2.0M | 1.4% | +12,531 |
| Dimensional Fund Advisors LP | 607,420 | $1.5M | 0.0% | −154,770 |
| Renaissance Technologies LLC | 598,059 | $1.5M | 0.0% | +187,489 |
| Jane Street Group, LLC | 509,225 | $1.3M | 0.0% | +319,335 |
| BlackRock, Inc. | 508,965 | $1.3M | 0.0% | −1,588,557 |
| DCF Advisers, LLC | 461,585 | $1.2M | 0.3% | +133,782 |
| Truffle Hound Capital, LLC | 420,000 | $1.1M | 0.7% | New |
| Geode Capital Management, LLC | 399,518 | $1.0M | 0.0% | −401,713 |
| Round Rock Advisors LLC | 378,979 | $966.4K | 0.1% | +188,271 |
| RBF Capital, LLC | 370,000 | $943.5K | 0.0% | New |
| D. E. Shaw & Co., Inc. | 358,479 | $914.1K | 0.0% | +76,651 |
| Jacobs Levy Equity Management, Inc | 328,988 | $838.9K | 0.0% | −22,200 |
| Marex Group Ltd | 260,848 | $665.2K | 0.0% | +200,848 |
| Two Sigma Investments, LP | 251,777 | $642.0K | 0.0% | +223,077 |
| Bank Of America Corp /de/ | 231,490 | $590.3K | 0.0% | +27,720 |
| Vanguard Fiduciary Trust Co | 211,100 | $538.3K | 0.0% | +7,563 |
| Connor, Clark & Lunn Investment Management Ltd. | 181,789 | $463.6K | 0.0% | New |
| Citadel Advisors LLC | 163,201 | $416.2K | 0.0% | New |
| Rangeley Capital, LLC | 157,000 | $400.4K | 0.4% | New |
| State Street Corp | 153,987 | $392.7K | 0.0% | −410,611 |
| UBS Group AG | 136,045 | $346.9K | 0.0% | +123,096 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Arq, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARArq, Inc.1
- CIK0001515156
- Employer ID (EIN)27-54724573
- Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
- Incorporated inDelaware3
- Fiscal year endsDecember 311
- Industry code (SIC)2890 Miscellaneous Chemical Products1
- SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
- Business address8051 E. Maplewood Ave., Ste 210, Greenwood Village, CO 801111
- Phone720-598-35001
- Shares outstanding43,668,483 as of Aug 6, 202611
- Public float$213.4M as of Jun 30, 20253
- AuditorBaker Tilly US, LLP, Denver, Colorado PCAOB ID 23; it also attests to the company’s internal control over financial reporting3
- On EDGAR sinceMar 14, 20111
- Filings811 in all: 4 (319), 8-K (194), 10-Q (37), 3 (28), SC 13G/A (23), 5 (16), SC 13G (14), 10-K (12)1
All 52 form types
4/A (11), DEF 14A (11), 425 (9), 8-A12B/A (9), PRE 14A (9), S-8 POS (9), 8-K/A (7), CT ORDER (7), ARS (6), CORRESP (6), DEFA14A (6), EFFECT (6), S-8 (6), UPLOAD (5), 11-K (4), SC 13D (4), SC 13D/A (4), SD (4), 424B5 (3), NT 10-K (3), NT 10-Q (3), S-4 (3), S-4/A (3), SC TO-I/A (3), SCHEDULE 13G/A (3), 424B3 (2), 8-A12B (2), POS AM (2), RW (2), S-3 (2), 10-K/A (1), 15-12G (1), 25-NSE (1), 424B2 (1), 5/A (1), 8-A12G (1), 8-A12G/A (1), 8-K12G3 (1), CERTNAS (1), NT 11-K (1), S-1 (1), S-3/A (1), SC TO-I (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Mar 10, 2026
Quarterly report (10-Q) Aug 10, 2026
Proxy statement (DEF 14A) Apr 28, 2026
Latest 8-K (8-K) Aug 28, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common stock, par value $0.001 per share | ARQ | Nasdaq Global Market |
From the cover page of the 10-K filed Mar 10, 2026 (Section 12(b) of the Exchange Act).3
Risk factors and legal proceedings
The risks Arq, Inc. names in Item 1A of its 10-K filed Mar 10, 2026: 37 risks under these headings, as written.3
- Risks Related to Our Business
- Our growth plans are dependent on the successful commercial production of our GAC products, and we may be unable to achieve our growth goals if we fail to identify a solution to the design flaws at our GAC Facility, or fail to meet any revised project costs and anticipated production ramp-up periods associated with any further capital upgrades to our GAC Facility at our Red River Plant that may be necessary to remedy such flaws.
- Executing on our business plan to produce GAC products at nameplate capacity has required, and may continue to require, significant capital, which may be more than anticipated and require us to seek additional financing.
- Current and future indebtedness could adversely affect our financial condition and impair our ability to operate our business.
- There could be no future demand for our products, including for our Corbin Wetcake.
- Disruptions or underutilization at any of our facilities could negatively impact our ability to meet customer supply requirements due to damage to or insufficient production capacity of the Red River Plant and may have a material adverse effect on our business, results of operations and financial condition.
- We have and may in the future be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative effect on our financial condition, results of operations and our stock price.
- We may not realize the anticipated benefits of acquisitions, joint ventures, and divestitures, or these benefits may take longer to realize than expected.
- Failure to establish strategic relationships in new industries may diminish our ability to conduct operations at our Corbin Facility.
- If we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial results or prevent fraud. As a result, stockholders could lose confidence in our financial reporting, which would harm our business and the trading price of our common stock.
- The financial effects of Tinuum Group providing indemnification under performance guarantees of its refined coal ("RC") facilities are largely unknown and could adversely affect our financial condition.
- Demand for our products and services depends significantly on environmental laws and regulations related to emissions and water quality. Uncertainty as to the future of such laws and regulations, changes to such laws and regulations or granting of extensions of compliance deadlines has had, and will likely continue to have, a material effect on our business.
The other 26 risks
- Our Corbin Facility is subject to additional significant governmental regulations, which may negatively impact our operations and costs of conducting business.
- Any action by the EPA related to the MATS Rule that decreases demand for our mercury removal products could have a material adverse effect on our business.
- The failure of tariffs or duties placed on U.S. imports of Chinese AC to adequately address the impact of low-priced imports from China could have a material adverse effect on the competitiveness and financial performance of our business.
- The market for consumables and other products that provide pollutant reduction is highly competitive, and some of our competitors are significantly larger and more established than we are, which could adversely impede our growth opportunities and financial results.
- Reduction of coal consumption by North American electricity power generators could result in less demand for our products and services. If utilities significantly reduce the number of coal-fired electricity generating units or the amount of coal burned without a corresponding increase in the services required at the remaining units, this could reduce our revenue and materially and adversely affect our business, financial condition and results of operations.
- The loss of, or significant reduction in, revenue from our largest customers could adversely affect our business, financial condition or results of operations.
- We depend on the services of our executives and other key employees, and the loss of one or more of these individuals could harm our business.
- Uncertain geopolitical conditions could adversely affect our business.
- Disruptions of supply chains may affect volatility in price and availability of raw materials.
- We may experience a shortage of reliable and adequate transport capacity and any material increase in transportation costs could have a material adverse effect on our results of operations.
- We face operational risks inherent in mining operations, and our mining operations have the potential to cause safety issues, including those that could result in significant personal injury.
- Our operations and products are subject to extensive safety, health and environmental requirements that could increase our costs and/or impair our ability to manufacture and sell certain products.
- We may not be successful in achieving our growth expectations related to new products in our existing or new markets.
- Natural disasters or extreme weather could affect our operations and financial results.
- We are subject to risks related to environmental, social or governance (“ESG”) matters, including our ability to set and meet reasonable goals related to climate change and sustainability efforts, may negatively affect our business and operations.
- Information technology vulnerabilities and cyberattacks on our networks could have a material adverse impact on our business.
- Risks Related to Intellectual Property
- Failure to protect our intellectual property or infringement of our intellectual property by a third party could have an adverse impact on our financial condition.
- We may be subject to intellectual property infringement claims from third parties that are costly to defend and that may limit our ability to use the disputed technologies.
- Indemnification of third-party licensees of our technologies against intellectual property infringement claims concerning our licensed technology and our products could be financially significant to us.
- Our future success depends in part on our ongoing identification and development of intellectual property and our ability to invest in and deploy new products, services and technologies into the marketplace efficiently and cost effectively.
- Risk related to tax matters
- Our ability to utilize our tax assets to offset future income tax liability could be limited from an "ownership change."
- Risks Related to Our Common Stock
- Our stock price is subject to volatility.
- Our certificate of incorporation and bylaws contain provisions that may delay or prevent an otherwise beneficial takeover attempt of our Company.
- An increased focus on environmental, social and governance factors by institutional investors may negatively impact our access to capital and the liquidity of our stock price.
- We require additional funding for our growth plans, and such funding may require us to issue additional shares of our common stock resulting in a dilution of your investment.
- Certain members of our management team and Board hold a significant portion of the voting power of our common stock.
Legal proceedings
From time to time, we are involved in various litigation matters arising in the ordinary course of our business. Information with respect to this item may be found in Note 8 "Commitments and Contingencies" to the Consolidated Financial Statements included in Item 8 of this Report.
The opening of Item 3, Legal Proceedings.3
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARArq, Inc. filings on SEC EDGAR
- 2SEC EDGARArq, Inc. filings on SEC EDGAR
- 3
- 4SEC EDGARArq, Inc. 10-K for fiscal 2025
- 5SEC EDGARArq, Inc. 10-K for fiscal 2025
- 6SEC EDGARArq, Inc. 10-K for fiscal 2019
- 7SEC EDGARArq, Inc. 10-K for fiscal 2020
- 8SEC EDGARArq, Inc. 10-K for fiscal 2022
- 9SEC EDGARArq, Inc. 10-K for fiscal 2023
- 10SEC EDGARArq, Inc. 10-K for fiscal 2021
- 11SEC EDGARArq, Inc. 10-Q for fiscal 2026
- 12
- 13SEC EDGARGreg Marken, Chief executive officer
- 14
- 15
- 16
- 17
- 18SEC EDGARGreg Marken, Chief financial officer
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27SEC EDGARMorgan Fields, VP of Accounting
- 28
- 29
- 30
- 31
- 32SEC EDGARCameron E. Martin, VP
- 33
- 34SEC EDGARRichard J. Schlager, VP
- 35SEC EDGARSharon Sjostrom, CTO
- 36SEC EDGARJeremy Blank, Board member
- 37
- 38
- 39SEC EDGARLaurie Bergman, Board member
- 40SEC EDGARBrian Leen, Board member
- 41SEC EDGARCarol S. Eicher, Board member
- 42SEC EDGARR. Carter Pate, Board member
- 43SEC EDGARMichael D. Durham, Board member
- 44SEC EDGARTaylor Simonton, Board member
- 45SEC EDGARAdam Gray, Board member
- 46SEC EDGARLouis Spencer Wells, Board member
- 47SEC EDGARAlan Bradley Gabbard, Board member
- 48SEC EDGARDerek Johnson, Board member
- 49SEC EDGARKim B. Clarke, Board member
- 50SEC EDGARW. Phillip Marcum, Board member
- 51SEC EDGARPaul A. Lang, Board member
- 52SEC EDGARMark H. McKinnies, Board member
- 53
- 54
- 55
- 56SEC EDGARResults of operations
- 57SEC EDGARExecutive or director change
- 58SEC EDGARExecutive or director change
- 59SEC EDGARExecutive or director change
- 60
- 61
- 62SEC EDGARResults of operations
- 63SEC EDGARExecutive or director change
- 64
- 65SEC EDGAREntered a material agreement
- 66SEC EDGARResults of operations
- 67NasdaqNasdaq calendar
- 68
- 69
- 70
- 71
- 72
- 73
- 74
- 75
- 76SEC EDGARJeremy Blank SC 13D/A on Arq, Inc.
- 77SEC EDGARArq Ltd SC 13D/A on Arq, Inc.
- 78
- 79
- 80