Quest Resource Holding (QRHC) 10-Q7 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Oct. 29, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Trading Symbol	QRHC
Entity Registrant Name	Quest Resource Holding Corporation
Entity Central Index Key	0001442236
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		20,587,675
Entity File Number	001-36451
Entity Tax Identification Number	51-0665952
Entity Address, Address Line One	3481 Plano Parkway
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	The Colony
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75056
City Area Code	972
Local Phone Number	464-0004
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common stock
Entity Incorporation, State or Country Code	NV
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,133,278	$ 324,014
Accounts receivable, less allowance for doubtful accounts of $1,990,167 and $1,581,595 as of September 30, 2024 and December 31, 2023, respectively	60,125,301	58,147,058
Prepaid expenses and other current assets	3,309,387	2,142,071
Total current assets	64,567,966	60,613,143
Goodwill	85,828,238	85,828,238
Intangible assets, net	20,005,758	26,051,428
Property and equipment, net, and other assets	7,752,843	4,626,090
Total assets	178,154,805	177,118,899
Current liabilities:
Accounts payable and accrued liabilities	39,947,392	41,296,166
Other current liabilities	1,434,217	2,469,690
Current portion of notes payable	1,158,800	1,158,800
Total current liabilities	42,540,409	44,924,656
Notes payable, net	71,900,781	64,638,180
Other long-term liabilities	946,182	1,274,691
Total liabilities	115,387,372	110,837,527
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of September 30, 2024 and December 31, 2023
Common stock, $0.001 par value, 200,000,000 shares authorized, 20,464,260 and 20,161,400 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively	20,464	20,161
Additional paid-in capital	178,350,513	176,309,463
Accumulated deficit	(115,603,544)	(110,048,252)
Total stockholders’ equity	62,767,433	66,281,372
Total liabilities and stockholders’ equity	$ 178,154,805	$ 177,118,899

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - USD ($)	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 1,990,167	$ 1,888,307	$ 1,581,595	$ 2,357,345	$ 2,095,947	$ 2,176,010
Preferred stock, par value	$ 0.001		$ 0.001
Preferred stock, shares authorized	10,000,000		10,000,000
Preferred stock, shares issued	0		0
Preferred stock, shares outstanding	0		0
Common stock, par value	$ 0.001		$ 0.001
Common stock, shares authorized	200,000,000		200,000,000
Common stock, shares issued	20,464,260		20,161,400
Common stock, shares outstanding	20,464,260		20,161,400

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 72,765,415	$ 70,425,425	$ 218,561,988	$ 219,036,423
Cost of revenue	61,065,266	57,995,192	179,293,559	180,471,602
Gross profit	11,700,149	12,430,233	39,268,429	38,564,821
Operating expenses:
Selling, general, and administrative	10,272,870	9,620,114	29,456,728	28,249,820
Depreciation and amortization	2,367,594	2,341,581	7,094,337	7,218,683
Total operating expenses	12,640,464	11,961,695	36,551,065	35,468,503
Operating income (loss)	(940,315)	468,538	2,717,364	3,096,318
Interest expense	(2,723,579)	(2,408,076)	(7,807,531)	(7,407,207)
Loss before taxes	(3,663,894)	(1,939,538)	(5,090,167)	(4,310,889)
Income tax expense (benefit)	(278,336)	111,104	465,125	650,387
Net loss	(3,385,558)	(2,050,642)	(5,555,292)	(4,961,276)
Net loss applicable to common stockholders	$ (3,385,558)	$ (2,050,642)	$ (5,555,292)	$ (4,961,276)
Net loss per share applicable to common stockholders
Basic	$ (0.16)	$ (0.1)	$ (0.27)	$ (0.25)
Diluted	$ (0.16)	$ (0.1)	$ (0.27)	$ (0.25)
Weighted average number of common shares outstanding
Basic	20,665,681	20,059,528	20,542,294	19,984,890
Diluted	20,665,681	20,059,528	20,542,294	19,984,890

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2022	$ 71,139,048	$ 19,696	$ 173,876,319	$ (102,756,967)
Beginning Balance, Shares at Dec. 31, 2022		19,696,006
Stock-based compensation	298,431		298,431
Stock option exercises, Shares		28,166
Stock option exercises	62,548	$ 28	62,520
Net loss	(2,024,053)			(2,024,053)
Ending Balance at Mar. 31, 2023	69,475,974	$ 19,724	174,237,270	(104,781,020)
Ending Balance, Shares at Mar. 31, 2023		19,724,172
Beginning Balance at Dec. 31, 2022	71,139,048	$ 19,696	173,876,319	(102,756,967)
Beginning Balance, Shares at Dec. 31, 2022		19,696,006
Net loss	(4,961,276)
Ending Balance at Sep. 30, 2023	67,684,940	$ 19,960	175,383,223	(107,718,243)
Ending Balance, Shares at Sep. 30, 2023		19,959,677
Beginning Balance at Mar. 31, 2023	69,475,974	$ 19,724	174,237,270	(104,781,020)
Beginning Balance, Shares at Mar. 31, 2023		19,724,172
Stock-based compensation	362,319		362,319
Stock option exercises, Shares		35,000
Stock option exercises	52,850	$ 35	52,815
Shares issued for Employee Stock Purchase Plan options, Shares		22,888
Shares issued for Employee Stock Purchase Plan options	107,002	$ 23	106,979
Net loss	(886,581)			(886,581)
Ending Balance at Jun. 30, 2023	69,111,564	$ 19,782	174,759,383	(105,667,601)
Ending Balance, Shares at Jun. 30, 2023		19,782,060
Stock-based compensation	288,563		288,563
Stock option exercises, Shares		177,617
Stock option exercises	335,455	$ 178	335,277
Net loss	(2,050,642)			(2,050,642)
Ending Balance at Sep. 30, 2023	67,684,940	$ 19,960	175,383,223	(107,718,243)
Ending Balance, Shares at Sep. 30, 2023		19,959,677
Beginning Balance at Dec. 31, 2023	66,281,372	$ 20,161	176,309,463	(110,048,252)
Beginning Balance, Shares at Dec. 31, 2023		20,161,400
Stock-based compensation	356,870		356,870
Stock option exercises, Shares		68,421
Stock option exercises	327,736	$ 69	327,667
Net loss	(655,326)			(655,326)
Ending Balance at Mar. 31, 2024	66,310,652	$ 20,230	176,994,000	(110,703,578)
Ending Balance, Shares at Mar. 31, 2024		20,229,821
Beginning Balance at Dec. 31, 2023	66,281,372	$ 20,161	176,309,463	(110,048,252)
Beginning Balance, Shares at Dec. 31, 2023		20,161,400
Net loss	(5,555,292)
Ending Balance at Sep. 30, 2024	62,767,433	$ 20,464	178,350,513	(115,603,544)
Ending Balance, Shares at Sep. 30, 2024		20,464,260
Beginning Balance at Mar. 31, 2024	66,310,652	$ 20,230	176,994,000	(110,703,578)
Beginning Balance, Shares at Mar. 31, 2024		20,229,821
Stock-based compensation	362,867		362,867
Stock option exercises, Shares		102,640
Stock option exercises	287,017	$ 102	286,915
Shares issued for Employee Stock Purchase Plan options, Shares		24,763
Shares issued for Employee Stock Purchase Plan options	149,445	$ 25	149,420
Net loss	(1,514,408)			(1,514,408)
Ending Balance at Jun. 30, 2024	65,595,573	$ 20,357	177,793,202	(112,217,986)
Ending Balance, Shares at Jun. 30, 2024		20,357,224
Stock-based compensation	446,205		446,205
Stock option exercises, Shares		29,927
Stock option exercises	111,213	$ 30	111,183
Release of restricted and deferred stock units, shares		77,109
Release of restricted and deferred stock units		$ 77	(77)
Net loss	(3,385,558)			(3,385,558)
Ending Balance at Sep. 30, 2024	$ 62,767,433	$ 20,464	$ 178,350,513	$ (115,603,544)
Ending Balance, Shares at Sep. 30, 2024		20,464,260

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (5,555,292)	$ (4,961,276)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	739,298	645,047
Amortization of intangibles	6,974,382	6,840,559
Amortization of debt issuance costs and discounts	813,279	875,385
Provision for doubtful accounts	962,618	1,210,179
Stock-based compensation	1,290,942	949,313
Changes in operating assets and liabilities:
Accounts receivable	(2,940,861)	(5,251,088)
Prepaid expenses and other current assets	(1,167,316)	(435,523)
Security deposits and other assets	(14,197)	195,634
Accounts payable and accrued liabilities	(1,386,564)	8,747,102
Other liabilities	(1,035,473)	(2,147,507)
Net cash provided by (used in) operating activities	(1,319,184)	6,667,825
Cash flows from investing activities:
Purchase of property and equipment	(4,267,573)	(204,915)
Purchase of intangible assets	(928,712)	(1,051,978)
Net cash used in investing activities	(5,196,285)	(1,256,893)
Cash flows from financing activities:
Proceeds from credit facilities	81,513,502	63,672,337
Repayments of credit facilities	(76,254,298)	(70,514,967)
Proceeds from long-term debt	2,517,080
Repayments of long-term debt	(869,138)	(7,819,633)
Proceeds from stock option exercises	725,966	450,853
Proceeds from shares issued for Employee Stock Purchase Plan	149,445	107,002
Debt issuance costs	(457,824)
Net cash provided (used in) by financing activities	7,324,733	(14,104,408)
Net increase (decrease) in cash and cash equivalents	809,264	(8,693,476)
Cash and cash equivalents at beginning of period	324,014	9,563,709
Cash and cash equivalents at end of period	1,133,278	870,233
Supplemental cash flow information:
Cash paid for interest	7,149,534	6,575,490
Cash paid for income taxes, net	$ 791,766	$ 328,098

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($)	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (3,385,558)	$ (1,514,408)	$ (655,326)	$ (2,050,642)	$ (886,581)	$ (2,024,053)	$ (5,555,292)	$ (4,961,276)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

The Company and Description of

The Company and Description of Business	9 Months Ended
The Company and Description of Business	Sep. 30, 2024
Accounting Policies [Abstract]
The Company and Description of Business	1. The Company and Description of Business The accompanying condensed consolidated financial statements include the accounts of Quest Resource Holding Corporation (“QRHC”) and its subsidiaries, Quest Resource Management Group, LLC (“Quest”), Quest Equipment, LLC (“QE”), formerly known as Landfill Diversion Innovations, LLC, Youchange, Inc. (“Youchange”), Quest Vertigent Corporation (“QVC”), Quest Vertigent One, LLC (“QV One”), and Quest Sustainability Services, Inc. (“QSS”) (collectively, “we”, “us”, or “our company”). We are a national provider of waste and recycling services to customers from across multiple industry sectors that are typically larger, multi-location businesses. We create customer-specific programs and perform the related services for the collection, processing, recycling, disposal, and tracking of waste streams and recyclables. In addition, we offer products such as antifreeze and windshield washer fluid and other minor ancillary services. We also provide information and data that tracks and reports the detailed transactional and environmental results of our services and provides actionable data to improve business operations. The data we generate also enables our customers to address their environmental and sustainability goals and responsibilities.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Principles of Presentation and Consolidation The condensed consolidated financial statements included herein have been prepared by us without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with our audited financial statements for the year ended December 31, 2023. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted as permitted by the SEC, although we believe the disclosures that are made are adequate to make the information presented herein not misleading. The accompanying condensed consolidated financial statements reflect, in our opinion, all normal recurring adjustments necessary to present fairly our financial position at September 30, 2024 and the results of our operations and cash flows for the periods presented. We derived the December 31, 2023 condensed consolidated balance sheet data from audited financial statements. As QRHC, Quest, QE, Youchange, QVC, QV One, and QSS each operate as an environmental-based service company, we do not deem segment reporting necessary. All intercompany accounts and transactions have been eliminated in consolidation. Interim results are subject to seasonal variations, and the results of operations for the nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year. Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires incremental disclosures related to reportable segments, including significant segment expense categories and amounts for each reportable segment. Entities with a single reportable segment are required to provide the new disclosures required under Accounting Standards Codification (“ASC”) 280. This authoritative guidance is required to be applied retrospectively and will be effective for our annual disclosures beginning in 2024 and interim periods starting 2025. This guidance is only related to disclosures and is not expected to have a significant impact on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires entities to provide additional disclosure related to the transparency and decision usefulness of income tax disclosures, including additional disclosure around the rate reconciliation and income taxes paid. The authoritative guidance should be applied prospectively and will be effective for us starting in 2025. Retrospective application is permitted. This guidance is only related to disclosures and is not expected to have a significant impact on our consolidated financial statements. There have been no other recent accounting pronouncements or changes in accounting pronouncements that have been issued but not yet adopted that are of significance, or potential significance, to us.

Accounts Receivable, Net of All

Accounts Receivable, Net of Allowance for Doubtful Accounts	9 Months Ended
Accounts Receivable, Net of Allowance for Doubtful Accounts	Sep. 30, 2024
Receivables [Abstract]
Accounts Receivable, Net of Allowance For Doubtful Accounts	3. Accounts Receivable, Net of Allowance for Doubtful Accounts Our receivables, which are recorded when billed or when services are performed, are claims against third parties that will generally be settled in cash. The carrying value of our receivables, net of the allowance for doubtful accounts, represents the estimated net realizable value. We estimate our allowance for doubtful accounts based on consideration of a number of factors, including the length of time trade accounts are past due, our previous loss history, the creditworthiness of individual customers, economic conditions affecting specific customer industries, and economic conditions in general. We write off past-due receivable balances after all reasonable collection efforts have been exhausted. We credit payments subsequently received on such receivables to bad debt expense in the period we receive the payment. The following table reflects the activity in our allowance for doubtful accounts of trade receivables for the three and nine months ended September 30, 2024 and 2023: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) Beginning balance $ 1,888,307 $ 2,095,947 $ 1,581,595 $ 2,176,010 Bad debt expense 388,805 639,820 962,618 1,210,179 Uncollectible accounts written off, net of recoveries ( 286,945 ) ( 378,422 ) ( 554,046 ) ( 1,028,844 ) Ending balance $ 1,990,167 $ 2,357,345 $ 1,990,167 $ 2,357,345

Property and Equipment, Net, an

Property and Equipment, Net, and Other Assets	9 Months Ended
Property and Equipment, Net, and Other Assets	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net, and Other Assets	4. Property and Equipment, Net, and Other Assets At September 30, 2024 and December 31, 2023, property and equipment, net, and other assets consisted of the following: September 30, December 31, 2024 2023 (Unaudited) Property and equipment, net of accumulated depreciation of $ 3,652,779 2,932,371 as of September 30, 2024 and December 31, 2023, respectively $ 5,673,966 $ 2,129,176 Right-of-use operating lease assets 1,446,736 1,862,455 Security deposits and other assets 632,141 634,459 Property and equipment, net, and other assets $ 7,752,843 $ 4,626,090 We compute depreciation using the straight-line method over the estimated useful lives of the property and equipment. Depreciation expense for the three months ended September 30, 2024 was $ 286,259 , including $ 244,597 of depreciation expense reflected within “Cost of revenue” in our condensed consolidated statements of operations, as it related to assets used in directly servicing customer contracts and was $ 739,298 for the nine months ended September 30, 2024, including $ 619,343 of depreciation expense reflected within “Cost of revenue”. Depreciation expense for the three months ended September 30, 2023 was $ 150,594 , including $ 96,086 of depreciation expense reflected within “Cost of revenue”, and was $ 645,047 for the nine months ended September 30, 2023, including $ 266,923 of depreciation expense reflected in “Cost of revenue”. During the nine months ended September 30, 2024, we purchased 208 compactors and related equipment for approximately $ 3.1 million. This equipment, which we previously leased, is located at various customer locations. In connection with the purchase, we financed 80 % of the aggregate purchase price with draws on our PNC equipment term loan. Refer to Note 7, Notes Payable for additional information. Right-of-use operating lease assets related to our office leases are recognized in accordance with ASC 842. Refer to Note 8, Leases for additional information.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
Goodwill and Other Intangible Assets	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	5. Goodwill and Other Intangible Assets The components of goodwill and other intangible assets were as follows: September 30, 2024 (Unaudited) Estimated Gross Carrying Accumulated Net Finite lived intangible assets: Customer relationships 5 years $ 39,250,000 $ 23,518,660 $ 15,731,340 Software 7 years 5,159,004 2,143,753 3,015,251 Trademarks 7 years 2,026,163 874,218 1,151,945 Non-compete agreements 3 years 2,250,000 2,142,778 107,222 Total finite lived intangible assets $ 48,685,167 $ 28,679,409 $ 20,005,758 December 31, 2023 Estimated Gross Carrying Accumulated Net Finite lived intangible assets: Customer relationships 5 years $ 39,250,000 $ 17,636,463 $ 21,613,537 Software 7 years 4,230,291 1,819,287 2,411,004 Trademarks 7 years 2,026,163 657,331 1,368,832 Non-compete agreements 3 years 2,250,000 1,591,945 658,055 Total finite lived intangible assets $ 47,756,454 $ 21,705,026 $ 26,051,428 September 30, 2024 (Unaudited) and December 31, 2023 Estimated Carrying Indefinite lived intangible asset: Goodwill Indefinite $ 85,828,238 We compute amortization using the straight-line method over the useful lives of the finite lived intangible assets. Amortization expense related to finite lived intangible assets was $ 2.3 million and $ 2.3 million for the three months ended September 30, 2024 and 2023 , respectively. Amortization expense related to finite lived intangible assets was $ 7.0 million and $ 6.8 million for the nine months ended September 30, 2024 and 2023, respectively. We have no indefinite-lived intangible assets other than goodwill. $ 70.8 million of the goodwill is not deductible for tax purposes, while $ 15.0 million of goodwill is deductible over its tax-basis life. We performed our annual impairment analysis for goodwill and other intangible assets in the third quarter of 2024 with no impairment indicated.

Current Liabilities

Current Liabilities	9 Months Ended
Current Liabilities	Sep. 30, 2024
Current Liabilities Disclosure [Abstract]
Current Liabilities	6. Current Liabilities The components of Accounts payable and accrued liabilities were as follows: September 30, December 31, 2024 2023 (Unaudited) Accounts payable $ 35,655,844 $ 38,600,461 Accrued taxes 988,713 484,854 Employee compensation 2,325,693 1,478,826 Operating lease liabilities - current portion 449,425 493,928 Miscellaneous 527,717 238,097 $ 39,947,392 $ 41,296,166 Refer to Note 8, Leases for additional disclosure related to the operating lease liabilities. The components of Other current liabilities were as follows: September 30, December 31, 2024 2023 (Unaudited) Deferred revenue $ 1,434,217 $ 1,509,690 Deferred consideration - earn-out — 960,000 $ 1,434,217 $ 2,469,690 We made a $ 1.0 million earn-out payment in the first quarter of 2024 related to an acquisition.

Notes Payable

Notes Payable	9 Months Ended
Notes Payable	Sep. 30, 2024
Debt Disclosure [Abstract]
Notes Payable	7. Notes Payable Our debt obligations were as follows: Interest September 30, December 31, Rate (1) 2024 2023 (Unaudited) Monroe Term Loan (2) 11.82 % $ 53,034,156 $ 53,500,656 PNC ABL Facility (3) 7.25 % 18,504,692 13,245,489 PNC Equipment Term Loan (4) 8.11 % 2,517,080 — Green Remedies Promissory Note (5) 3.00 % 698,482 1,101,120 Total notes payable 74,754,410 67,847,265 Less: Current portion of long-term debt ( 1,158,800 ) ( 1,158,800 ) Less: Unamortized debt issuance costs ( 1,282,236 ) ( 1,345,339 ) Less: Unamortized OID ( 108,656 ) ( 185,793 ) Less: Unamortized OID warrant ( 303,937 ) ( 519,153 ) Notes payable, net $ 71,900,781 $ 64,638,180 (1) Interest rates as of September 30, 2024 (2) Bears interest based on SOFR plus Applicable Margin ranging from 5.5 % to 7.5 % (3) Bears interest based on Term SOFR plus a margin of 2.25 % (4) Bears interest based on Term SOFR plus a margin of 3.0 % (5) Stated interest rate of 3.0 % We capitalize financing costs we incur related to implementing our debt arrangements. We record these debt issuance costs associated with our revolving credit facility and our term loan as a reduction of long-term debt, net and amortize them over the contractual life of the related debt arrangements. The table below summarizes changes in debt issuance costs. September 30, 2024 Debt issuance costs, net of accumulated amortization Balance at December 31, 2023 $ 1,345,339 Financing costs deferred 457,824 Less: Amortization expense ( 520,927 ) Balance at September 30, 2024 (Unaudited) $ 1,282,236 Revolving Credit Facility On August 5, 2020, QRHC and certain of its domestic subsidiaries entered into a Loan, Security and Guaranty Agreement (the “PNC Loan Agreement”), which was subsequently amended on October 19, 2020, December 7, 2021, August 9, 2022, December 2, 2022, and March 29, 2024 with BBVA USA (which was subsequently succeeded in interest by PNC Bank, National Association (“PNC”)), as a lender, and as administrative agent, collateral agent, and issuing bank, and which provides for a credit facility (the “ABL Facility”) comprising an asset-based revolving credit facility in the maximum principal amount of $ 35.0 million with a sublimit for issuance of letters of credit of up to 10 % of the maximum principal amount of the revolving credit facility. The revolving credit facility bears interest, at the borrowers’ option, at either the Base Rate, plus a margin of 1.25 % ( no borrowings as of September 30, 2024 ), or the Term SOFR Rate for the interest period in effect plus a margin of 2.25 % ( 7.25 % as of September 30, 2024 ). The maturity date of the revolving credit facility is April 19, 2026 . The PNC Loan Agreement also provides for an equipment term loan facility in the maximum principal amount of $ 5.0 million. The equipment term loan bears interest, at the borrower’s option, at either the Base Rate, plus a margin of 2.0 %, or the Term SOFR Rate for the interest period in effect plus a margin of 3.0 %. As further discussed in Note 4, we drew $ 2.5 million on the equipment term loan in April 2024 to fund 80 % of the aggregate purchase price of certain compactors and related equipment. As of September 30, 2024, the ABL Facility borrowing base availability was $ 28.9 million , of which $ 18.5 million principal was outstanding. Monroe Term Loan On October 19, 2020, QRHC and certain of its domestic subsidiaries entered into a Credit Agreement (the “Credit Agreement”), which was subsequently amended on September 3, 2021, December 1, 2021, December 7, 2021, December 2, 2022, and March 29, 2024 with Monroe Capital Management Advisors, LLC (“Monroe Capital”), as administrative agent for the lenders thereto. Among other things, the Credit Agreement provides for the following: • A senior secured term loan facility in the principal amount of $ 53.0 million as of September 30, 2024 . The senior secured term loan accrues interest at the SOFR Rate for SOFR Loans plus the Applicable Margin; provided, that if the provision of SOFR Loans becomes unlawful or unavailable, then interest will be payable at a rate per annum equal to the Base Rate from time to time in effect plus the Applicable Margin for Base Rate Loans. The maturity date of the term loan facility is October 19, 2026 (the “Maturity Date”). The senior secured term loan will amortize in aggregate annual amounts equal to 1.00 % of the original principal amount of the senior secured term loan facility with the balance payable on the Maturity Date. Proceeds of the senior secured term loan are permitted to be used for Permitted Acquisitions (as defined in the Credit Agreement). • An accordion term loan facility in the maximum principal amount of $ 5.3 million. Loans under the accordion loan facility may be requested at any time until the Maturity Date. Each accordion term loan shall be on the same terms as those applicable to the senior secured term loan. Proceeds of accordion term loans are permitted to be used for Permitted Acquisitions. At the same time as the borrowing of the initial $ 11.5 million under the Credit Agreement in October 2020, in a separate agreement, we issued Monroe Capital a warrant to purchase 500,000 shares of QRHC’s common stock exercisable immediately. For the delayed draw term loan facility, we issued a separate warrant to purchase 350,000 shares upon drawing on this facility on October 19, 2021. Both warrants have an exercise price of $ 1.50 per share and an expiration date of March 19, 2028 . We estimated the value of the warrants issued using the Black Scholes option pricing model and recorded a debt discount (“OID”) of approximately $ 766,000 in 2020 for the 500,000 -share warrant and $ 536,000 in 2021 for the 350,000 -share warrant which are being amortized over the term of the Credit Agreement. We also executed a letter agreement that provides that the warrant holder will receive minimum net proceeds of $ 1 million less any net proceeds received from the sale of the warrant shares, which is conditional on the full exercise and sale of all the warrant shares at the same time. Green Remedies Promissory Note On October 19, 2020, we issued an unsecured subordinated promissory note to Green Remedies Waste and Recycling, Inc. in the aggregate principal amount of $ 2,684,250 , payable commencing on January 1, 2021 in quarterly installments through October 1, 2025 and subject to an interest rate of 3.0 % per annum. Interest Expense The amount of interest expense related to borrowings for the three months ended September 30, 2024 and 2023 was $ 2,057,359 and $ 1,915,631 , respectively. The amount of interest expense related to borrowings for the nine months ended September 30, 2024 and 2023 was $ 6,107,628 and $ 5,944,798 , respectively. Interest expense related to amortization of debt issuance fees and debt discount costs as well as interest related to vendor supply chain financing programs totaled $ 666,220 and $ 492,445 , respectively, for the three months ended September 30, 2024 and 2023 . Interest expense related to amortization of debt issuance fees and debt discount costs as well as interest related to vendor supply chain financing programs totaled $ 1,699,903 and $ 1,462,408 , respectively, for the nine months ended September 30, 2024 and 2023.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2024
Lessee Disclosure [Abstract]
Leases	8. Leases Our leases are primarily related to office space and are classified as operating leases. Lease Costs For the three months ended September 30, 2024 and 2023, we recorded approximately $ 174,000 and $ 186,000 , respectively, of fixed cost operating lease expense. For the nine months ended September 30, 2024 and 2023 we recorded approximately $ 526,000 and $ 561,000 , respectively, of fixed cost operating lease expense. Cash paid for operating leases approximated operating lease expense and non-cash right of use asset amortization for the nine months ended September 30, 2024 and 2023. We did not obtain any new operating lease right-of-use assets in the nine months ended September 30, 2024. Balance Sheet Classification The table below presents the lease related assets and liabilities recorded on the balance sheet. September 30, December 31, 2024 2023 Operating leases: (Unaudited) Right-of-use operating lease assets: Property and equipment, net and other assets $ 1,446,736 $ 1,862,455 Lease liabilities: Accounts payable and accrued liabilities $ 449,425 $ 493,928 Other long-term liabilities 946,182 1,274,691 Total operating lease liabilities $ 1,395,607 $ 1,768,619

Revenue

Revenue	9 Months Ended
Revenue	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	9. Revenue Operating Revenues We provide businesses with services to reuse, recycle, and dispose of a wide variety of waste streams and recyclables generated by their operations. Our service revenue is primarily generated from fees charged for the collection, transfer, disposal and recycling services and from sales of commodities by our recycling operations. In addition, we have product sales and other revenue primarily from sales of products such as antifreeze and windshield washer fluid, as well as minor ancillary services. Revenue Recognition We recognize revenue as services are performed or products are delivered. For example, we recognize revenue as waste and recyclable material are collected or when products are delivered. We recognize revenue net of any contracted pricing discounts or rebate arrangements. We generally recognize revenue for the gross amount of consideration received when we hold complete responsibility to the customer for contract fulfillment, making us the primary obligor (or principal). Depending on the key terms of the arrangement, which may include situations in which we are not the primary obligor, do not have credit risk, or we determine amounts earned using fixed percentage or fixed fee schedules, we may record the revenue net of certain cost amounts. During the three months ended September 30, 2024 and 2023, w e had certain management fee contracts accounted for under the net basis method with net revenue totaling $ 119,672 and $ 120,467, respectively . We had net revenue from management fee contracts accounted for under the net basis revenue method of $ 374,570 and $ 277,121 for the nine months ended September 30, 2024 and 2023, respectively. We record amounts collected from customers for sales tax on a net basis. Disaggregation of Revenue The following table presents our revenue disaggregated by source. One customer accounted for 29.1 % of revenue for the three months ended September 30, 2024 and two customers accounted for 28.2 % of revenue for the three months ended September 30, 2023 . One customer accounted for 27.5 % of revenue for the nine months ended September 30, 2024 and two customers accounted for 28.1 % of revenue for the nine months ended September 30, 2023. We operate primarily in the United States, with minor services in Canada. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) Revenue Type: Services $ 69,976,761 $ 67,672,666 $ 209,901,590 $ 210,622,181 Product sales and other 2,788,654 2,752,759 8,660,398 8,414,242 Total revenue $ 72,765,415 $ 70,425,425 $ 218,561,988 $ 219,036,423 Deferred Revenue We bill certain customers one month in advance, and, accordingly, we defer recognition of related revenues as a contract liability until the services are provided and control is transferred to the customer. As of September 30, 2024 and December 31, 2023 , we had $ 1,434,217 and $ 1,509,690 , respectively, of deferred revenue which was classified in “Other current liabilities”.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes Our statutory income tax rate is anticipated to be approximately 26 % . We had income tax expense of $ 465,125 and $ 650,387 for the nine months ended September 30, 2024 and 2023 , respectively, which was attributable to state tax obligations for states with no net operating loss carryforwards, federal income tax after anticipated utilization of all federal net operating loss carryforwards by year end, and other timing differences. We compute income taxes using the asset and liability method in accordance with FASB ASC Topic 740, Income Taxes . Under the asset and liability method, we determine deferred income tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities and measure them using currently enacted tax rates and laws. We provide a valuation allowance to reduce the amount of deferred tax assets that, based on available evidence, is more likely than not to be realized. Realization of our deferred tax assets was not reasonably assured as of September 30, 2024 and December 31, 2023, and we had recorded a valuation allowance of $ 19,131,000 and $ 17,413,000 , respectively, against deferred tax assets in excess of deferred tax liabilities in the accompanying condensed consolidated financial statements. As of September 30, 2024 and December 31, 2023, we had federal income tax net operating loss carryforwards of approximately $ 1,800,000 and $ 5,900,000 , respectively, which expire at various dates ranging from 2034 - 2037 .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
Fair Value of Financial Instruments	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	11. Fair Value of Financial Instruments Our financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, deferred revenue, and notes payable. We do not believe that we are exposed to significant currency or credit risks arising from these financial instruments. Our variable rate indebtedness subjects us to interest rate risk as all of the borrowings under the senior secured credit facilities bear interest at variable rates. The fair values of our financial instruments approximate their carrying values, based on their short maturities or, for notes payable, based on borrowing rates currently available to us for loans with similar terms and maturities. Contingent liabilities are measured at fair value on a recurring basis. The fair value measurements are generally determined using unobservable inputs and are classified within Level 3 of the fair value hierarchy.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2024
Equity [Abstract]
Stockholders' Equity	12. Stockholders’ Equity Preferred Stock – Our authorized preferred stock consists of 10,000,000 shares of preferred stock with a par value of $ 0.001 , of which no shares have been issued or are outstanding. Common Stock – Our authorized common stock consists of 200,000,000 shares of common stock with a par value of $ 0.001 , of which 20,464,260 and 20,161,400 shares were issued and outstanding as of September 30, 2024 and December 31, 2023, respectively. Employee Stock Purchase Plan – On September 17, 2014, our stockholders approved our 2014 Employee Stock Purchase Plan (as amended, the “2014 ESPP”). On May 14, 2024, we issued 24,763 shares to employees for $ 149,445 under our 2014 ESPP for options that vested and were exercised. We recorded expense of $ 61,700 and $ 79,993 related to the 2014 ESPP for the nine months ended September 30, 2024 and 2023, respectively. On July 8, 2024, our stockholders approved our 2024 Employee Stock Purchase Plan (the “2024 ESPP”). The 2024 ESPP will become effective on November 15, 2024. Warrants – The following table summarizes the warrants issued and outstanding as of September 30, 2024: Warrants Issued and Outstanding as of September 30, 2024 Date of Exercise Shares of Description Issuance Expiration Common Stock Exercisable Warrants 10/19/2020 3/19/2028 $ 1.50 500,000 Exercisable Warrants 10/19/2021 3/19/2028 $ 1.50 350,000 Total warrants issued and outstanding (Unaudited) 850,000 Incentive Compensation Plan – In October 2012, we adopted our 2012 Incentive Compensation Plan, as amended (the “2012 Plan”), as the sole plan for providing equity-based incentive compensation to our employees, directors and service providers. The 2012 Plan allows for the grant of stock options, restricted stock, restricted stock units (“RSUs”), stock appreciation rights, performance awards, and other incentive awards to our employees, directors and service providers. The purpose of the 2012 Plan is to attract and retain these individuals and further align their interests with the interests of our stockholders by linking their compensation with our performance. The 2012 Plan is administered by the compensation committee of our board of directors. On July 8, 2024, our stockholders approved the adoption of our 2024 Incentive Compensation Plan (the “2024 Plan”), which replaced the 2012 Plan for all future grants. Awards previously granted under the 2012 Plan are unaffected by the adoption of the 2024 Plan and remain outstanding under the terms pursuant to which they were granted. The 2024 Plan allows for the grant of stock options (both nonqualified stock options and incentive stock options), stock appreciation rights, restricted stock, RSUs, bonus stock, dividend equivalents, other stock-based awards, and performance awards that may be settled in cash, stock, or other property in our sole discretion. The purpose of our 2024 Plan is to assist us and our Designated Subsidiaries (as such term is defined in the 2024 Plan) in attracting, motivating, retaining, and rewarding high-quality executives and other employees, officers, directors, and individual consultants who provide services to us or our Designated Subsidiaries, by enabling such persons to acquire or increase a proprietary interest in our company in order to strengthen the mutuality of interests between such persons and our stockholders, and providing such persons with performance incentives to expend their maximum efforts in the creation of stockholder value. There are 1,500,000 shares available for grant under the 2024 Plan. Stock Options – We recorded stock option expense of $ 393,720 and $ 664,629 for the nine months ended September 30, 2024 and 2023 , respectively. The following table summarizes the stock option activity for the nine months ended September 30, 2024: Stock Options Weighted- Exercise Average Number Price Per Exercise Price of Shares Share Per Share Outstanding at December 31, 2023 2,869,013 $ 1.17 — $ 23.20 $ 3.33 Granted 15,000 $ 6.98 — $ 7.63 $ 7.41 Exercised ( 200,988 ) $ 1.51 — $ 6.40 $ 3.61 Cancelled/Forfeited ( 33,828 ) $ 1.83 — $ 23.20 $ 5.02 Outstanding at September 30, 2024 (Unaudited) 2,649,197 $ 1.17 — $ 11.60 $ 3.31 Deferred Stock Units – Nonemployee directors can elect to receive all or a portion of their annual retainers in the form of deferred stock units (“DSUs”). The DSUs are recognized at their fair value on the date of grant. Each DSU represents the right to receive one share of our common stock following the completion of a director’s service. During the nine months ended September 30, 2024, we granted 20,601 DSUs to directors and recorded director compensation expense of $ 173,524 related to the grants. In addition, during the nine months ended September 30, 2024, we granted 11,990 DSUs to certain employees and recorded compensation expense of $ 133,310 , which includes a $ 125,000 accrual of anticipated bonus expense to be paid in DSUs for certain employees. This bonus accrual is recorded in accrued liabilities until it is granted. We had 248,173 and 231,635 DSUs outstanding at September 30, 2024 and December 31, 2023, respectively. During the nine months ended September 30, 2023, we granted 4,662 DSUs to directors and recorded director compensation expense of $ 30,128 related to the grants. In addition, during the nine months ended September 30, 2023, we granted 14,089 DSUs to executive employees and recorded compensation expense of $ 118,162 , which includes an accrual of anticipated bonus expense to be paid in DSUs for certain executive employees. Restricted Stock Units - RSUs are recognized at their fair value on the date of grant. Each RSU represents the right to receive one share of our common stock once fully vested. All outstanding unvested RSUs currently have vesting terms ranging from one to three years . During the nine months ended September 30, 2024, we granted 52,045 RSUs to directors and recorded director compensation expense of $ 334,566 related to the RSU grants. In addition, during the nine months ended September 30, 2024, we granted 165,000 RSUs and recorded employee compensation expense of $ 165,927 related to the RSU grants. During the nine months ended September 30, 2024, 62,056 RSUs were released or forfeited. We had 216,045 and 61,056 unvested RSUs outstanding at September 30, 2024 and December 31, 2023, respectively. During the nine months ended September 30, 2023, we granted 61,056 RSUs to directors and recorded director compensation expense of $ 56,401 related to the grants. Performance Stock Units - During the nine months ended September 30, 2024, we granted 130,000 performance stock units (“PSUs”) to certain employees under our 2024 Plan. Any earned PSUs will be fully vested and paid based on defined performance metrics achieved at the end of the three-year performance period. The number of shares of our common stock that each participant is eligible to receive following such period will be determined based on the initial target number of PSUs granted and the actual performance level achieved. The PSUs are recognized at their fair value on the date of grant, based on the probable issuance at the end of the performance period. We will evaluate the probable share of common stock issuance and will adjust the expense as appropriate. We recorded compensation expense of $ 28,195 during the nine months ended September 30, 2024.

Net Loss per Share

Net Loss per Share	9 Months Ended
Net Loss per Share	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Loss per Share	13. Net Loss per Share We compute basic net loss per share using the weighted average number of shares of common stock outstanding plus the number of common stock equivalents for DSUs during the period. We compute diluted net income (loss) per share using the weighted average number of shares of common stock outstanding during the period, adjusted for the dilutive effect of common stock equivalents. In periods where losses are reported, the weighted average number of shares of common stock outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. Dilutive potential common shares consist of the incremental common shares issuable upon the exercise of outstanding stock options and warrants. The dilutive effect of outstanding stock options and warrants is reflected in diluted earnings per share by application of the treasury stock method. The computation of basic and diluted net loss per share attributable to common stockholders is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) Numerator: Net loss applicable to common stockholders $ ( 3,385,558 ) $ ( 2,050,642 ) $ ( 5,555,292 ) $ ( 4,961,276 ) Denominator: Weighted average common shares outstanding, basic 20,665,681 20,059,528 20,542,294 19,984,890 Effect of dilutive common shares — — — — Weighted average common shares outstanding, diluted 20,665,681 20,059,528 20,542,294 19,984,890 Net loss per share: Basic $ ( 0.16 ) $ ( 0.10 ) $ ( 0.27 ) $ ( 0.25 ) Diluted $ ( 0.16 ) $ ( 0.10 ) $ ( 0.27 ) $ ( 0.25 ) Anti-dilutive securities excluded from diluted net loss per share: Stock options 46,579 68,455 46,579 82,344

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Principles of Presentation and Consolidation	Principles of Presentation and Consolidation The condensed consolidated financial statements included herein have been prepared by us without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with our audited financial statements for the year ended December 31, 2023. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted as permitted by the SEC, although we believe the disclosures that are made are adequate to make the information presented herein not misleading. The accompanying condensed consolidated financial statements reflect, in our opinion, all normal recurring adjustments necessary to present fairly our financial position at September 30, 2024 and the results of our operations and cash flows for the periods presented. We derived the December 31, 2023 condensed consolidated balance sheet data from audited financial statements. As QRHC, Quest, QE, Youchange, QVC, QV One, and QSS each operate as an environmental-based service company, we do not deem segment reporting necessary. All intercompany accounts and transactions have been eliminated in consolidation. Interim results are subject to seasonal variations, and the results of operations for the nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires incremental disclosures related to reportable segments, including significant segment expense categories and amounts for each reportable segment. Entities with a single reportable segment are required to provide the new disclosures required under Accounting Standards Codification (“ASC”) 280. This authoritative guidance is required to be applied retrospectively and will be effective for our annual disclosures beginning in 2024 and interim periods starting 2025. This guidance is only related to disclosures and is not expected to have a significant impact on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires entities to provide additional disclosure related to the transparency and decision usefulness of income tax disclosures, including additional disclosure around the rate reconciliation and income taxes paid. The authoritative guidance should be applied prospectively and will be effective for us starting in 2025. Retrospective application is permitted. This guidance is only related to disclosures and is not expected to have a significant impact on our consolidated financial statements. There have been no other recent accounting pronouncements or changes in accounting pronouncements that have been issued but not yet adopted that are of significance, or potential significance, to us.

Accounts Receivable, Net of A_2

Accounts Receivable, Net of Allowance for Doubtful Accounts (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Activity in Allowance for Doubtful Accounts of Trade Receivables	The following table reflects the activity in our allowance for doubtful accounts of trade receivables for the three and nine months ended September 30, 2024 and 2023: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) Beginning balance $ 1,888,307 $ 2,095,947 $ 1,581,595 $ 2,176,010 Bad debt expense 388,805 639,820 962,618 1,210,179 Uncollectible accounts written off, net of recoveries ( 286,945 ) ( 378,422 ) ( 554,046 ) ( 1,028,844 ) Ending balance $ 1,990,167 $ 2,357,345 $ 1,990,167 $ 2,357,345

Property and Equipment, Net, _2

Property and Equipment, Net, and Other Assets (Tables)	9 Months Ended
Property and Equipment, Net, and Other Assets (Tables)	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Components Property and Equipment, Net, and Other Assets	At September 30, 2024 and December 31, 2023, property and equipment, net, and other assets consisted of the following: September 30, December 31, 2024 2023 (Unaudited) Property and equipment, net of accumulated depreciation of $ 3,652,779 2,932,371 as of September 30, 2024 and December 31, 2023, respectively $ 5,673,966 $ 2,129,176 Right-of-use operating lease assets 1,446,736 1,862,455 Security deposits and other assets 632,141 634,459 Property and equipment, net, and other assets $ 7,752,843 $ 4,626,090

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
Goodwill and Other Intangible Assets (Tables)	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The components of goodwill and other intangible assets were as follows: September 30, 2024 (Unaudited) Estimated Gross Carrying Accumulated Net Finite lived intangible assets: Customer relationships 5 years $ 39,250,000 $ 23,518,660 $ 15,731,340 Software 7 years 5,159,004 2,143,753 3,015,251 Trademarks 7 years 2,026,163 874,218 1,151,945 Non-compete agreements 3 years 2,250,000 2,142,778 107,222 Total finite lived intangible assets $ 48,685,167 $ 28,679,409 $ 20,005,758 December 31, 2023 Estimated Gross Carrying Accumulated Net Finite lived intangible assets: Customer relationships 5 years $ 39,250,000 $ 17,636,463 $ 21,613,537 Software 7 years 4,230,291 1,819,287 2,411,004 Trademarks 7 years 2,026,163 657,331 1,368,832 Non-compete agreements 3 years 2,250,000 1,591,945 658,055 Total finite lived intangible assets $ 47,756,454 $ 21,705,026 $ 26,051,428
Schedule of Indefinite-Lived Intangible Assets	September 30, 2024 (Unaudited) and December 31, 2023 Estimated Carrying Indefinite lived intangible asset: Goodwill Indefinite $ 85,828,238

Current Liabilities (Tables)

Current Liabilities (Tables)	9 Months Ended
Current Liabilities (Tables)	Sep. 30, 2024
Current Liabilities Disclosure [Abstract]
Components of Accounts Payable and Accrued Liabilities	The components of Accounts payable and accrued liabilities were as follows: September 30, December 31, 2024 2023 (Unaudited) Accounts payable $ 35,655,844 $ 38,600,461 Accrued taxes 988,713 484,854 Employee compensation 2,325,693 1,478,826 Operating lease liabilities - current portion 449,425 493,928 Miscellaneous 527,717 238,097 $ 39,947,392 $ 41,296,166
Components of Other Current Liabilities	The components of Other current liabilities were as follows: September 30, December 31, 2024 2023 (Unaudited) Deferred revenue $ 1,434,217 $ 1,509,690 Deferred consideration - earn-out — 960,000 $ 1,434,217 $ 2,469,690 We made a $ 1.0 million earn-out payment in the first quarter of 2024 related to an acquisition.

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
Notes Payable (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt Obligations	Our debt obligations were as follows: Interest September 30, December 31, Rate (1) 2024 2023 (Unaudited) Monroe Term Loan (2) 11.82 % $ 53,034,156 $ 53,500,656 PNC ABL Facility (3) 7.25 % 18,504,692 13,245,489 PNC Equipment Term Loan (4) 8.11 % 2,517,080 — Green Remedies Promissory Note (5) 3.00 % 698,482 1,101,120 Total notes payable 74,754,410 67,847,265 Less: Current portion of long-term debt ( 1,158,800 ) ( 1,158,800 ) Less: Unamortized debt issuance costs ( 1,282,236 ) ( 1,345,339 ) Less: Unamortized OID ( 108,656 ) ( 185,793 ) Less: Unamortized OID warrant ( 303,937 ) ( 519,153 ) Notes payable, net $ 71,900,781 $ 64,638,180 (1) Interest rates as of September 30, 2024 (2) Bears interest based on SOFR plus Applicable Margin ranging from 5.5 % to 7.5 % (3) Bears interest based on Term SOFR plus a margin of 2.25 % (4) Bears interest based on Term SOFR plus a margin of 3.0 % (5) Stated interest rate of 3.0 %
Schedule of Changes in Debt Issuance Costs	The table below summarizes changes in debt issuance costs. September 30, 2024 Debt issuance costs, net of accumulated amortization Balance at December 31, 2023 $ 1,345,339 Financing costs deferred 457,824 Less: Amortization expense ( 520,927 ) Balance at September 30, 2024 (Unaudited) $ 1,282,236

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
Lessee Disclosure [Abstract]
Summary of Lease Related Assets and Liabilities Recorded on Balance Sheet	The table below presents the lease related assets and liabilities recorded on the balance sheet. September 30, December 31, 2024 2023 Operating leases: (Unaudited) Right-of-use operating lease assets: Property and equipment, net and other assets $ 1,446,736 $ 1,862,455 Lease liabilities: Accounts payable and accrued liabilities $ 449,425 $ 493,928 Other long-term liabilities 946,182 1,274,691 Total operating lease liabilities $ 1,395,607 $ 1,768,619

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Revenue Disaggregated by Source	The following table presents our revenue disaggregated by source. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) Revenue Type: Services $ 69,976,761 $ 67,672,666 $ 209,901,590 $ 210,622,181 Product sales and other 2,788,654 2,752,759 8,660,398 8,414,242 Total revenue $ 72,765,415 $ 70,425,425 $ 218,561,988 $ 219,036,423

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
Stockholders' Equity (Tables)	Sep. 30, 2024
Summary of Warrant Activity	The following table summarizes the warrants issued and outstanding as of September 30, 2024: Warrants Issued and Outstanding as of September 30, 2024 Date of Exercise Shares of Description Issuance Expiration Common Stock Exercisable Warrants 10/19/2020 3/19/2028 $ 1.50 500,000 Exercisable Warrants 10/19/2021 3/19/2028 $ 1.50 350,000 Total warrants issued and outstanding (Unaudited) 850,000 Incentive Compensation Plan – In October 2012, we adopted our 2012 Incentive Compensation Plan, as amended (the “2012 Plan”), as the sole plan for providing equity-based incentive compensation to our employees, directors and service providers. The 2012 Plan allows for the grant of stock options, restricted stock, restricted stock units (“RSUs”), stock appreciation rights, performance awards, and other incentive awards to our employees, directors and service providers. The purpose of the 2012 Plan is to attract and retain these individuals and further align their interests with the interests of our stockholders by linking their compensation with our performance. The 2012 Plan is administered by the compensation committee of our board of directors. On July 8, 2024, our stockholders approved the adoption of our 2024 Incentive Compensation Plan (the “2024 Plan”), which replaced the 2012 Plan for all future grants. Awards previously granted under the 2012 Plan are unaffected by the adoption of the 2024 Plan and remain outstanding under the terms pursuant to which they were granted. The 2024 Plan allows for the grant of stock options (both nonqualified stock options and incentive stock options), stock appreciation rights, restricted stock, RSUs, bonus stock, dividend equivalents, other stock-based awards, and performance awards that may be settled in cash, stock, or other property in our sole discretion. The purpose of our 2024 Plan is to assist us and our Designated Subsidiaries (as such term is defined in the 2024 Plan) in attracting, motivating, retaining, and rewarding high-quality executives and other employees, officers, directors, and individual consultants who provide services to us or our Designated Subsidiaries, by enabling such persons to acquire or increase a proprietary interest in our company in order to strengthen the mutuality of interests between such persons and our stockholders, and providing such persons with performance incentives to expend their maximum efforts in the creation of stockholder value. There are 1,500,000 shares available for grant under the 2024 Plan.
Summary of Stock Option Activity	The following table summarizes the stock option activity for the nine months ended September 30, 2024: Stock Options Weighted- Exercise Average Number Price Per Exercise Price of Shares Share Per Share Outstanding at December 31, 2023 2,869,013 $ 1.17 — $ 23.20 $ 3.33 Granted 15,000 $ 6.98 — $ 7.63 $ 7.41 Exercised ( 200,988 ) $ 1.51 — $ 6.40 $ 3.61 Cancelled/Forfeited ( 33,828 ) $ 1.83 — $ 23.20 $ 5.02 Outstanding at September 30, 2024 (Unaudited) 2,649,197 $ 1.17 — $ 11.60 $ 3.31

Net Loss per Share (Tables)

Net Loss per Share (Tables)	9 Months Ended
Net Loss per Share (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders	The computation of basic and diluted net loss per share attributable to common stockholders is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) Numerator: Net loss applicable to common stockholders $ ( 3,385,558 ) $ ( 2,050,642 ) $ ( 5,555,292 ) $ ( 4,961,276 ) Denominator: Weighted average common shares outstanding, basic 20,665,681 20,059,528 20,542,294 19,984,890 Effect of dilutive common shares — — — — Weighted average common shares outstanding, diluted 20,665,681 20,059,528 20,542,294 19,984,890 Net loss per share: Basic $ ( 0.16 ) $ ( 0.10 ) $ ( 0.27 ) $ ( 0.25 ) Diluted $ ( 0.16 ) $ ( 0.10 ) $ ( 0.27 ) $ ( 0.25 ) Anti-dilutive securities excluded from diluted net loss per share: Stock options 46,579 68,455 46,579 82,344

Accounts Receivable, Net of A_3

Accounts Receivable, Net of Allowance for Doubtful Accounts - Activity in Allowance for Doubtful Accounts of Trade Receivables (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Receivables [Abstract]
Beginning balance	$ 1,888,307	$ 2,095,947	$ 1,581,595	$ 2,176,010
Bad debt expense	388,805	639,820	962,618	1,210,179
Uncollectible accounts written off, net of recoveries	(286,945)	(378,422)	(554,046)	(1,028,844)
Ending balance	$ 1,990,167	$ 2,357,345	$ 1,990,167	$ 2,357,345

Property and Equipment, Net, _3

Property and Equipment, Net, and Other Assets - Components of Property and Equipment, Net, and Other Assets (Detail) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Property And Equipment Net And Other Assets [Abstract]
Property and equipment, net of accumulated depreciation of $3,652,779 and $2,932,371 as of September 30, 2024 and December 31, 2023, respectively	$ 5,673,966	$ 2,129,176
Right-of-use operating lease assets	1,446,736	1,862,455
Security deposits and other assets	632,141	634,459
Property and equipment, net, and other assets	$ 7,752,843	$ 4,626,090

Property and Equipment, Net, _4

Property and Equipment, Net, and Other Assets - Components of Property and Equipment, Net, and Other Assets (Parenthetical) (Detail) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Property And Equipment Net And Other Assets [Abstract]
Accumulated depreciation, Property and equipment	$ 3,652,779	$ 2,932,371

Property and Equipment, Net, _5

Property and Equipment, Net, and Other Assets - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Compactors	Sep. 30, 2023 USD ($)	Oct. 19, 2020
Property And Equipment Net And Other Assets [Line Items]
Depreciation	$ 286,259	$ 150,594	$ 739,298	$ 645,047
Purchase of compactors and related equipment \| Compactors			208
Purchase of compactors	$ 3,100,000		$ 3,100,000
Debt instrument stated interest rate	80%		80%		3%
Service [Member]
Property And Equipment Net And Other Assets [Line Items]
Depreciation reflected in cost of revenue	$ 244,597	$ 96,086	$ 619,343	$ 266,923

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Finite-Lived Intangible Assets (Detail) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 48,685,167	$ 47,756,454
Accumulated Amortization	28,679,409	21,705,026
Goodwill	85,828,238	85,828,238
Net	$ 20,005,758	$ 26,051,428
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Useful Life	5 years	5 years
Gross Carrying Amount	$ 39,250,000	$ 39,250,000
Accumulated Amortization	23,518,660	17,636,463
Net	$ 15,731,340	$ 21,613,537
Software [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Useful Life	7 years	7 years
Gross Carrying Amount	$ 5,159,004	$ 4,230,291
Accumulated Amortization	2,143,753	1,819,287
Net	$ 3,015,251	$ 2,411,004
Trademarks [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Useful Life	7 years	7 years
Gross Carrying Amount	$ 2,026,163	$ 2,026,163
Accumulated Amortization	874,218	657,331
Net	$ 1,151,945	$ 1,368,832
Non-compete Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Useful Life	3 years	3 years
Gross Carrying Amount	$ 2,250,000	$ 2,250,000
Accumulated Amortization	2,142,778	1,591,945
Net	$ 107,222	$ 658,055

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Indefinite-Lived Intangible Assets (Detail) - Goodwill [Member] - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Indefinite-Lived Intangible Assets [Line Items]
Indefinite lived intangible asset, estimated useful life	Indefinite	Indefinite
Indefinite lived intangible asset, carrying amount	$ 85,828,238	$ 85,828,238

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization of intangibles	$ 2,300,000	$ 2,300,000	$ 6,974,382	$ 6,840,559
Indefinite-lived intangible assets other than goodwill			0
Goodwill	85,828,238		85,828,238		$ 85,828,238
Impairment of goodwill	0
Not Deductible for Tax Purposes [Member]
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	70,800,000		70,800,000
Deductible for Tax Purposes [Member]
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	$ 15,000,000		$ 15,000,000

Current Liabilities - Component

Current Liabilities - Components of Accounts Payable and Accrued Liabilities (Detail) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts payable	$ 35,655,844	$ 38,600,461
Accrued taxes	988,713	484,854
Employee compensation	2,325,693	1,478,826
Operating lease liabilities - current portion	449,425	493,928
Miscellaneous	527,717	238,097
Accounts payable and accrued liabilities	$ 39,947,392	$ 41,296,166

Current Liabilities - Compone_2

Current Liabilities - Components of Other Current Liabilities (Detail) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Other Liabilities, Current [Abstract]
Deferred revenue	$ 1,434,217	$ 1,509,690
Deferred consideration - earn-out		960,000
Other current liabilities	$ 1,434,217	$ 2,469,690

Current Liabilities - Additiona

Current Liabilities - Additional Information (Detail) $ in Millions	Mar. 31, 2024 USD ($)
Other Acquisitions [Member]
Business Acquisition [Line Items]
Earn-out liability, current	$ 1

Notes Payable - Schedule of Deb

Notes Payable - Schedule of Debt Obligations (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total notes payable	$ 74,754,410	$ 67,847,265
Less: Current portion of long-term debt	(1,158,800)	(1,158,800)
Less: Unamortized debt issuance costs	(1,282,236)	(1,345,339)
Less: Unamortized OID	(108,656)	(185,793)
Less: Unamortized OID warrant	(303,937)	(519,153)
Notes payable, net	$ 71,900,781	64,638,180
Monroe Term Loan [Member]
Debt Instrument [Line Items]
Interest Rate	11.82%
Total notes payable	$ 53,034,156	53,500,656
PNC ABL Facility [Member]
Debt Instrument [Line Items]
Interest Rate	7.25%
Total notes payable	$ 18,504,692	13,245,489
PNC Equipment Term Loan [Member]
Debt Instrument [Line Items]
Interest Rate	8.11%
Total notes payable	$ 2,517,080
Green Remedies Promissory Note [Member]
Debt Instrument [Line Items]
Interest Rate	3%
Total notes payable	$ 698,482	$ 1,101,120

Notes Payable - Schedule of D_2

Notes Payable - Schedule of Debt Obligations (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2024	Oct. 19, 2020
Debt Instrument [Line Items]
Debt instrument interest rate	3%
Debt instrument stated interest rate	80%	3%
Green Remedies Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3%
PNC ABL Facility [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	2.25%
PNC Equipment Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	3%
Minimum [Member] \| Monroe Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	5.50%
Maximum [Member] \| Monroe Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	7.50%

Notes Payable - Schedule of Cha

Notes Payable - Schedule of Changes in Debt Issuance Costs (Detail)	9 Months Ended
	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
Balance at December 31, 2023	$ 1,345,339
Financing costs deferred	457,824
Less: Amortization expense	(520,927)
Balance at September 30, 2024 (Unaudited)	$ 1,282,236

Notes Payable - Additional Info

Notes Payable - Additional Information (Detail) - USD ($)			3 Months Ended		9 Months Ended		12 Months Ended
Notes Payable - Additional Information (Detail) - USD ($)	Oct. 19, 2020	Aug. 05, 2020	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2023	Oct. 31, 2020
Debt Instrument [Line Items]
Debt instrument interest rate					3%
Aggregate principal amount	$ 2,684,250
Debt instrument annual interest rate	3%		80%		80%
Interest expense related to borrowings			$ 2,057,359	$ 1,915,631	$ 6,107,628	$ 5,944,798
Interest expense related to amortization of debt issuance fees, and debt discount costs, interest related to vendor supply chain financing programs			666,220	$ 492,445	1,699,903	$ 1,462,408
Borrowings			74,754,410		74,754,410				$ 67,847,265
Total notes payable			74,754,410		74,754,410				$ 67,847,265
Monroe Capital Credit Agreement [Member]
Debt Instrument [Line Items]
Debt discounts							$ 536,000	$ 766,000
Monroe Capital Credit Agreement [Member] \| Equity Offering [Member]
Debt Instrument [Line Items]
Sale of stock, number of shares issued in transaction	500,000						350,000	500,000
Warrant issued	350,000
Price per warrant	$ 1.5
Warrant expiration date	Mar. 19, 2028
Minimum net proceeds receivable by warrant holders	$ 1,000,000
Monroe Capital Credit Agreement [Member] \| Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument maturity date	Oct. 19, 2026
Revolving credit current borrowing facility										$ 11,500,000
Percentage of original principal amount	1%
Revolving credit current borrowing facility, outstanding			53,000,000		53,000,000
Maximum [Member] \| Monroe Capital Credit Agreement [Member] \| Accordion Term Loan Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility maximum principal amount	$ 5,300,000
ABL Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility maximum principal amount		$ 35,000,000
Sublimit for issuance of letters of credit, percentage		10%
Debt instrument maturity date		Apr. 19, 2026
Revolving credit current borrowing facility			28,900,000		28,900,000
Revolving credit current borrowing facility, outstanding			18,500,000		18,500,000
Borrowings			0		0
Total notes payable			$ 0		$ 0
ABL Facility [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument interest rate			1.25%		1.25%
ABL Facility [Member] \| SOFR [Member]
Debt Instrument [Line Items]
Debt instrument interest rate					2.25%
Debt instrument interest rate			7.25%		7.25%
Equipment Loan Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility maximum principal amount		$ 5,000,000
Debt instrument interest rate					2%
Equipment Term Loan [Member]
Debt Instrument [Line Items]
Borrowings			$ 2,500,000		$ 2,500,000
Total notes payable			$ 2,500,000		$ 2,500,000

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
Leases - Additional Information (Detail) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lessee Lease Description [Line Items]
Fixed cost operating lease expense	$ 174,000	$ 186,000	$ 526,000	$ 561,000

Leases - Summary of Lease Relat

Leases - Summary of Lease Related Assets and Liabilities Recorded on Balance Sheet (Detail) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Assets and Liabilities, Lessee [Abstract]
Right-of-use operating lease assets	$ 1,446,736	$ 1,862,455
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property Plant And Equipment Net Including Deposits Assets Noncurrent	Property Plant And Equipment Net Including Deposits Assets Noncurrent
Operating lease liabilities - current portion	$ 449,425	$ 493,928
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accounts payable and accrued liabilities	Accounts payable and accrued liabilities
Operating lease liability - long-term portion	$ 946,182	$ 1,274,691
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Total operating lease liabilities	$ 1,395,607	$ 1,768,619

Revenue - Additional Informatio

Revenue - Additional Information (Detail)	3 Months Ended		9 Months Ended
Revenue - Additional Information (Detail)	Sep. 30, 2024 USD ($) Customer	Sep. 30, 2023 USD ($) Customer	Sep. 30, 2024 USD ($) Customer	Sep. 30, 2023 USD ($) Customer	Dec. 31, 2023 USD ($)
Revenue Recognition [Line Items]
Revenue	$ 72,765,415	$ 70,425,425	$ 218,561,988	$ 219,036,423
Number of customer \| Customer	1	2	1	2
Advance payment period			1 month
Deferred revenue	$ 1,434,217		$ 1,434,217		$ 1,509,690
Management Fee [Member]
Revenue Recognition [Line Items]
Revenue	$ 119,672	$ 120,467	$ 374,570	$ 277,121
Customer Concentration Risk [Member] \| Sales Revenue Net [Member] \| Customers [Member]
Revenue Recognition [Line Items]
Percentage of revenue	29.10%	28.20%	27.50%	28.10%

Revenue - Summary of Revenue Di

Revenue - Summary of Revenue Disaggregated by Source (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation Of Revenue [Line Items]
Total revenue	$ 72,765,415	$ 70,425,425	$ 218,561,988	$ 219,036,423
Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	69,976,761	67,672,666	209,901,590	210,622,181
Product Sales and Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 2,788,654	$ 2,752,759	$ 8,660,398	$ 8,414,242

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
Income Taxes - Additional Information (Detail) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax [Line Items]
Income tax expense	$ (278,336)	$ 111,104	$ 465,125	$ 650,387
Federal corporate income tax rate			26%
Valuation allowance	19,131,000		$ 19,131,000		$ 17,413,000
Federal income tax net operating loss carry forward	1,800,000		$ 1,800,000		$ 5,900,000
Minimum [Member]
Income Tax [Line Items]
Net operating loss carry forwards expiration year			2034
Maximum [Member]
Income Tax [Line Items]
Net operating loss carry forwards expiration year			2037
State [Member]
Income Tax [Line Items]
Operating loss carryforwards	$ 0		$ 0

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Equity [Abstract]
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	200,000,000	200,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	20,464,260	20,161,400
Common stock, shares outstanding	20,464,260	20,161,400

Stockholders' Equity - Additi_2

Stockholders' Equity - Additional Information - Employee Stock Purchase Plan (Detail) - USD ($)		3 Months Ended		9 Months Ended
	May 14, 2024	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Equity [Abstract]
Shares issued for employee stock purchase plans options, shares	24,763
Shares issued for employee stock purchase plans options	$ 149,445	$ 149,445	$ 107,002
Employee stock purchase plan expense				$ 61,700	$ 79,993

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Warrants Issued and Outstanding (Detail)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Class Of Warrant Or Right [Line Items]
Shares of Common Stock	850,000
Exercisable Warrants [Member] \| Warrants One [Member]
Class Of Warrant Or Right [Line Items]
Date of Issuance	Oct. 19, 2020
Date of Expiration	Mar. 19, 2028
Exercise Price \| $ / shares	$ 1.5
Shares of Common Stock	500,000
Exercisable Warrants [Member] \| Warrants Two [Member]
Class Of Warrant Or Right [Line Items]
Date of Issuance	Oct. 19, 2021
Date of Expiration	Mar. 19, 2028
Exercise Price \| $ / shares	$ 1.5
Shares of Common Stock	350,000

Stockholders' Equity - Additi_3

Stockholders' Equity - Additional Information - Incentive Compensation Plan (Detail)	Jul. 08, 2024 shares
Equity [Abstract]
Shares available for grant under the 2024 Plan	1,500,000

Stockholders' Equity - Additi_4

Stockholders' Equity - Additional Information - Stock Options (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Equity [Abstract]
Stock options expense	$ 393,720	$ 664,629

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Stock Option Activity (Detail) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding Beginning Balance, Number of Shares	2,869,013
Granted, Number of Shares	15,000
Exercised, Number of Shares	(200,988)
Canceled/Forfeited, Number of Shares	(33,828)
Outstanding Ending Balance, Number of Shares	2,649,197	2,869,013
Outstanding Beginning Balance, Weighted-Average Exercise Price Per Share	$ 3.33
Granted, Weighted-Average Exercise Price Per Share	7.41
Exercised, Weighted-Average Exercise Price Per Share	3.61
Cancelled/Forfeited, Weighted-Average Exercise Price Per Share	5.02
Outstanding Ending Balance, Weighted-Average Exercise Price Per Share	3.31	$ 3.33
Outstanding, $1.17 - $23.20 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise Price Per Share, Minimum		1.17
Exercise Price Per Share, Maximum		$ 23.2
Granted, $6.98 - $7.63 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise Price Per Share, Minimum	6.98
Exercise Price Per Share, Maximum	7.63
Exercised, $1.51 - $6.40 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise Price Per Share, Minimum	1.51
Exercise Price Per Share, Maximum	6.4
Cancelled/Forfeited, $1.83 - $23.20 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise Price Per Share, Minimum	1.83
Exercise Price Per Share, Maximum	23.2
Outstanding, $1.17 - $11.60 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise Price Per Share, Minimum	1.17
Exercise Price Per Share, Maximum	$ 11.6

Stockholders' Equity - Additi_5

Stockholders' Equity - Additional Information - Deferred Stock Units (Detail) - Deferred Stock Units [Member] - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Schedule Of Stockholders Equity [Line Items]
Number of stock unit received	1
Deferred stock units	20,601	4,662
Compensation expense related to grants	$ 133,310	$ 118,162
Anticipated bonus expense	$ 125,000
DSUs outstanding	248,173		231,635
Director [Member]
Schedule Of Stockholders Equity [Line Items]
Compensation expense related to grants	$ 173,524	$ 30,128
Executive Employees [Member]
Schedule Of Stockholders Equity [Line Items]
Deferred stock units	11,990	14,089

Stockholders' Equity - Additi_6

Stockholders' Equity - Additional Information - Restricted Stock Units (Detail) - Restricted Stock Units [Member] - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Schedule Of Stockholders Equity [Line Items]
RSUs/PSUs granted		61,056
Number of stock unit received	1
RSUs outstanding	216,045		61,056
RSUs released or forfeited	62,056
Minimum [Member]
Schedule Of Stockholders Equity [Line Items]
Vesting terms	1 year
Maximum [Member]
Schedule Of Stockholders Equity [Line Items]
Vesting terms	3 years
Director [Member]
Schedule Of Stockholders Equity [Line Items]
RSUs/PSUs granted	52,045
Compensation expense related to grants	$ 334,566	$ 56,401
Employee [Member]
Schedule Of Stockholders Equity [Line Items]
RSUs/PSUs granted	165,000
Compensation expense related to grants	$ 165,927

Stockholders' Equity - Additi_7

Stockholders' Equity - Additional Information - Performance Stock Units (Detail) - Performance Stock Units [Member]	9 Months Ended
	Sep. 30, 2024 USD ($) shares
Schedule Of Stockholders Equity [Line Items]
Compensation expense related to grants \| $	$ 28,195
Employee [Member]
Schedule Of Stockholders Equity [Line Items]
RSUs/PSUs granted \| shares	130,000

Net Loss per Share - Computatio

Net Loss per Share - Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net loss applicable to common stockholders	$ (3,385,558)	$ (2,050,642)	$ (5,555,292)	$ (4,961,276)
Denominator:
Weighted average common shares outstanding, basic	20,665,681	20,059,528	20,542,294	19,984,890
Weighted average common shares outstanding, diluted	20,665,681	20,059,528	20,542,294	19,984,890
Net loss per share:
Basic	$ (0.16)	$ (0.1)	$ (0.27)	$ (0.25)
Diluted	$ (0.16)	$ (0.1)	$ (0.27)	$ (0.25)
Stock options [Member]
Anti-dilutive securities excluded from diluted net loss per share:
Anti-dilutive securities excluded from diluted net loss per share	46,579	68,455	46,579	82,344