Key Highlights

  • Arq, Inc. (NASDAQ:ARQ) was quoted at USD 2.32 in premarket trading on November 5, 2026, up 25.45% on the premarket quote.
  • Third quarter Revenue rose 9% to USD 38.2 million, while gross Margin widened to 39.7% from 28.8% a year earlier.
  • Net income reached USD 2.5 million, or USD 0.06 per diluted share, against a net loss of USD 0.9 million as adjusted a year ago.
  • 2026 adjusted EBITDA guidance was narrowed to USD 19 million to USD 20 million, with the low end lifted from USD 17 million.

Third Quarter Turns Profitable

Arq, Inc. (NASDAQ:ARQ) released third quarter 2026 results on November 4, 2026, and the shares were quoted 25.45% higher at USD 2.32 in premarket trading on November 5, 2026, per the premarket quote. Revenue for the quarter ended September 30, 2026 was USD 38.2 million against USD 35.1 million a year earlier, an increase the company attributed predominantly to higher volumes. Operating Income was USD 3.1 million compared with an operating loss of USD 1.1 million, and Net Income was USD 2.5 million, or USD 0.06 per diluted share, versus a net loss of USD 0.9 million, or USD 0.02 per share, as adjusted. The 2025 comparatives are restated for a change in how planned major maintenance costs are accounted for.

Margins, Costs and Management View

Cost of revenue fell to USD 23.0 million from USD 25.0 million, which lifted gross margin by roughly 1,100 basis points. Research and Development spending dropped to USD 0.8 million from USD 2.6 million because granular activated carbon ramp-up expenses did not recur, while selling, general and administrative expense rose to USD 7.2 million from USD 4.6 million on higher incentive compensation and legal and professional fees. Adjusted EBITDA climbed 71% to USD 8.8 million, the tenth consecutive quarter of positive adjusted EBITDA. Chief Executive Bob Rasmus said the quarter reflected the earning power of the company's foundational powdered activated carbon business. For the first nine months, revenue was USD 97.1 million, net income was USD 0.6 million versus a loss of USD 3.3 million, and Operating Cash Flow was USD 7.7 million.

Balance Sheet, Guidance and Risks

Cash stood at USD 19.1 million at September 30, 2026, of which USD 11.3 million was restricted, and total Debt including finance leases was USD 28.2 million, down from USD 30.7 million at June 30, 2026. Management reiterated 2026 revenue of USD 120 million to USD 125 million and Capital spending of USD 8 million to USD 10 million. Rasmus said meaningful orders for activated carbon aimed at PFAS removal are feasible in 2027, yet no new contracts were announced and talks on monetizing the Corbin Facility have produced no agreement. The Earnings Call was set for 8:30 a.m. ET on November 5, 2026. A premarket quote can reverse once regular trading and the call begin, and a smaller company can move sharply on modest volume.

Where Things Stand

The move rests on filed numbers rather than speculation: Arq, Inc. (NASDAQ:ARQ) swung to a USD 2.5 million quarterly profit, widened gross margin to 39.7% and raised the floor of its adjusted EBITDA guidance. Whether the 25.45% premarket gain holds depends on the 8:30 a.m. ET call on November 5, 2026, on regular session Volume and on whether PFAS and asphalt testing turn into orders. Simple arithmetic on the quoted move implies a prior close near USD 1.85. Investors will also watch debt reduction and any Corbin Facility agreement.