debt_leverage_profile
1.60x Total Debt / Equity (Elevated leverage)
High
SEC-XBRL
interest_rate_sensitivity
Moderate-high; ~$30M debt load means 200bps rate rise adds ~$600K annual interest, compressing thin EBITDA margins by ~15-20%
Inferred
Agent_Inference
geopolitical_supply_exposure
High intensity; European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Domestic US-focused waste/sustainability services; minimal geopolitical chokepoints; recycling commodity markets and landfill capacity are primary constraints
Inferred
Agent_Inference
international_expansion_readiness
null
Inferred
Agent_Inference
geographic_footprint
Operates almost exclusively in North America; negligible sovereign currency devaluation exposure; no meaningful international revenue markets
Inferred
Agent_Inference
commodity_exposure_profile
High intensity; commodities: Natural Gas, Coal, Uranium, Crude Oil, Copper (grid), Lithium (storage); geopolitical: European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
High dependency on third-party waste haulers and recyclers; no single vendor >30% but fragmented carrier network creates substitution friction and pricing risk
Inferred
Agent_Inference
business_model_type_primary
Asset-light environmental services broker; cloud termination would disrupt platform operations but core vendor-client relationships could survive via manual processes short-term
Inferred
Agent_Inference
business_model_type_secondary
Technology-enabled services intermediary; secondary revenue from sustainability reporting/consulting is people-driven and less cloud-dependent
Inferred
Agent_Inference
switching_cost_profile
Moderate API coupling risk; proprietary platform integrates with client ERP/procurement systems creating moderate switching costs but no dominant single-API dependency
Inferred
Agent_Inference
howey_test_risk_index
Low Howey risk; revenue model is fee-for-service waste management brokerage, not an investment contract; passes all four Howey prongs without triggering securities classification
Inferred
Agent_Inference
regulatory_burden_tier
Very High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Low-moderate; handles US commercial client operational data; CCPA exposure exists for California clients; GDPR exposure minimal given near-zero EU operations
Inferred
Agent_Inference
antitrust_exposure_flag
Low; operates in fragmented $500B+ US waste industry with <0.1% market share; no dominant market position triggering antitrust scrutiny
Inferred
Agent_Inference
regulatory_exposure_profile
Very High burden; regimes: FERC, NERC, EPA, NRC, State PUCs, DOE; Rate-case lag and clean-energy mandates compress returns on regulated asset base.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~70-80% recurring via multi-year managed services contracts; ~20-30% transactional project/consulting fees; contract terms typically 1-3 years
Inferred
Agent_Inference
monetization_vector
Management fee on waste spend under management plus per-transaction hauler fees; sustainability reporting subscription layer emerging as secondary vector
Inferred
Agent_Inference
pricing_architecture
Cost-plus brokerage spread model; vulnerable to commodity recycling price compression and hauler pricing power; limited ability to pass through cost increases without contract renegotiation
Inferred
Agent_Inference
pricing_power_rating
Weak-to-moderate; 3-4/10; margin pressure from hauler cost inflation common; differentiation via sustainability reporting adds modest pricing power but clients are cost-sensitive
Inferred
Agent_Inference
target_gross_margin_bracket
17.0% Gross Margin (Thin (<20%))
High
SEC-XBRL
churn_vulnerability_index
Moderate churn risk; no significant free-rider problem; clients internalize waste management if savings erode; estimated 15-25% annual contract renewal risk at enterprise level
Inferred
Agent_Inference
headcount_cost_structure
Moderately headcount-linear; doubling revenue requires ~60-70% headcount growth; account management and vendor coordination roles scale with client count
Inferred
Agent_Inference
marginal_cost_of_growth
Sublinear but not scalable SaaS; platform amortizes over larger spend base but client onboarding and compliance reporting require proportional labor; gross margin ~20-25%
Inferred
Agent_Inference
franchise_compliance_risk
null
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale CAC likely rises due to larger enterprise competition; current estimated CAC $50-150K per enterprise client; LTV/CAC ratio ~3-5x, compresses at scale
Inferred
Agent_Inference
network_effect_present
Weak network effects; larger vendor network improves pricing leverage but not classic demand-side network effects; durability low without proprietary data moats
Inferred
Agent_Inference
asset_efficiency_ratio
-10.6% Return on Assets (Negative equity)
High
SEC-XBRL
recession_resistance_tier
Moderate; waste management is semi-essential but discretionary sustainability programs get cut in downturns; revenue declined during COVID; Tier 3 of 5 recession resistance
Inferred
Agent_Inference
customer_segment_primary
Mid-to-large US enterprises seeking outsourced waste/recycling management; retail, healthcare, manufacturing sectors dominant; top 10 clients likely represent 40-60% of revenue
Inferred
Agent_Inference
customer_segment_secondary
Secondary segment includes multi-site franchise operators and commercial real estate portfolios seeking consolidated sustainability reporting and ESG compliance documentation
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "23-0000 Legal Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.34 (HIL — ~34% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
0.1% CapEx / Revenue (Low-CapEx Asset-Light)
High
SEC-XBRL
sec_cik
0001442236
High
SEC-EDGAR
ticker
QRHC
High
SEC-EDGAR