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Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>Arq, Inc. (ARQ) is an environmental technology company that produces activated carbon (AC) products that reduce or reverse environmental liabilities. </li><li>The AC market is facing an extended supply shortage, as new capacity is expected to fall short of demand for applications like removing “forever chemicals” from drinking water, remediating contaminated soil and groundwater, and purifying RNG. </li><li>Arq’s 4Q25 results (see 4Q25 results recap) fell short of estimates due to granular activated carbon (GAC) start-up costs, while record full-year powdered activated carbon (PAC) performance and inaugural 2026 guidance underscore PAC resilience. </li></ul>

Arq, Inc. (ARQ) is an environmental technology company that produces activated carbon (AC) products that reduce or reverse environmental liabilities. The AC market is facing an extended supply shortage, as new capacity is expected to fall short of demand for applications like removing “forever chemicals” from drinking water, remediating contaminated soil and groundwater, and purifying RNG. Arq’s 4Q25 results (see 4Q25 results recap) fell short of estimates due to granular activated carbon (GAC) start-up costs, while record full-year powdered activated carbon (PAC) performance and inaugural 2026 guidance underscore PAC resilience. 

ARQ: 예측 수정; GAC가 재정비하는 동안 PAC가 주도권을 잡고 있습니다