Advanced Emissions Solutions Inc
NASDAQ:ARQ

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Advanced Emissions Solutions Inc
NASDAQ:ARQ
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Price: 3.54 USD Market Closed
Market Cap: 151.1m USD

Advanced Emissions Solutions Inc
Investor Relations

Advanced Emissions Solutions, Inc. is a holding company, which engages in the provision of environmental and emission control equipment to power generation industry. The company is headquartered in Greenwood Village, Colorado and currently employs 139 full-time employees. The company went IPO on 2004-10-14. The Company’s technologies and associated product offerings provide purification solutions to enable its customers to reduce certain contaminants and pollutants. The firm operates through two segments: Advanced Purification Technologies (APT) and Refined Coal (RC). Its APT segment is primarily comprised of operations of its subsidiary, Carbon Solutions. The firm sells consumable products, which utilizes AC and chemical based technologies to a range of customers, including coal-fired utilities, industrials, water treatment plants and other diverse markets. Its primary products are comprised of AC, which is produced from lignite coal. Its RC segment is comprised of its equity ownership in Tinuum Group and Tinuum Services, both of which are unconsolidated entities. Tinuum Group provides reduction of mercury and NOx emissions at select coal-fired power generators through the production and sale of RC.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 6, 2025
AI Summary
Q3 2025

PAC Business Strength: The PAC business delivered another strong quarter, with average selling prices rising 7% year-over-year and 6% sequentially. Cost reductions drove a 43% SG&A decrease versus last year.

GAC Ramp Challenges: First commercial production and revenue for granular activated carbon (GAC) were achieved, but volumes remain well below capacity due to design issues and high fixed costs, impacting margins.

Guidance Updated: Full GAC capacity is now expected around mid-2026, delayed due to design flaws and feedstock variability. A new thermal oxidizer investment of $8–10 million is planned to enable full ramp.

Financial Results: Revenue reached $35.1 million for the quarter. Adjusted EBITDA was $5.2 million, negatively impacted by several million dollars in nonrecurring GAC ramp costs. Net loss was $700,000.

Sustained SG&A Cuts: SG&A expenses fell to $4.6 million, down 43% from last year, and management expects these reductions to be sustainable.

Strong Market Fundamentals: Both PAC and GAC markets remain robust, with continued demand and favorable pricing. Management reiterated optimism for PAC and long-term GAC profitability once ramp issues are resolved.

Alternative Feedstock Evaluation: The company is exploring blending or switching to drier feedstock to address GAC ramp issues and improve margins.

Key Financials
Revenue
$35.1 million
Adjusted EBITDA
$5.2 million
Net Income
-$700,000
Gross Margin
28.8%
SG&A Expenses
$4.6 million
Research and Development Costs
$2.6 million
Trailing 12-Month Adjusted EBITDA
$16.7 million
Total Cash
$15.5 million
Unrestricted Cash
$7 million
CapEx Guidance (Full Year 2025)
$8–12 million
Average Selling Price (PAC)
up 7% year-over-year
Earnings Call Recording
Other Earnings Calls

Management

Mr. Robert E. Rasmus
CEO & President
No Bio Available
Mr. Jeremy D. Williamson
Chief Operating Officer
No Bio Available
Dr. Joseph M. Wong Ph.D.
Chief Technology Officer
No Bio Available
Ms. Stacia Hansen
Chief Accounting Officer & Principal Financial Officer
No Bio Available
Mr. Clay Smith
General Counsel & Secretary
No Bio Available
Mr. Garrett Chandler
Vice President of Sales
No Bio Available
Ms. Lorraine Lang
Vice President of Human Resources
No Bio Available

Contacts

Address
COLORADO
Greenwood Village
8051 E. Maplewood Ave., Ste 210
Contacts
+17205983500.0
www.ada-cs.com