First quarter results from RenX's upgraded Myakka City platform are consistent with the operating model the Company described in its May 11, 2026 letter to stockholders. Key results include: consolidated revenue of $3.96 million, up approximately 20.5% quarter-over-quarter; the Logistics segment generated positive operating income and net income; approximately 44% quarter-over-quarter growth in the sale of materials (compost, engineered soils, and mulch) in the Biomass Recycling segment, and a new land-clearing service line in the Biomass Recycling segment contributed its first revenue in the quarter. With the upgraded platform operational, RenX enters the balance of 2026 positioned to scale throughput, expand its customer base, and advance the Microtec UTM 1200 Turbo Mill toward commissioning in the second half of the year.
"Our first quarter results reflect the investments we have made in newer equipment and integrated operating capacity," said David Villarreal, Chief Executive Officer of RenX Enterprises. "Zimmer Equipment's profitability demonstrates strong demand for our logistics services, and the materials production momentum at Resource Group US gives us confidence as we head into the spring and summer demand cycle and into Microtec commissioning."
First Quarter 2026 Highlights
Consolidated revenue of $3.96 million, approximately 20.5% growth quarter-over-quarter from $3.28 million in Q4 2025.
First full quarter of integrated operations on the upgraded Myakka City processing platform. Equipment brought in-house since late 2025, including the Komptech XL3 trommel, Diamond Z horizontal grinder, and Komptech Crambo shredder, was operating together for the first full quarter.
Logistics segment generated positive operating income and net income with 18.7% revenue growth quarter-over-quarter.
Sales of materials in the Biomass Recycling segment comprised of sales of compost, engineered soils and mulch, grew approximately 44% quarter-over-quarter.
Customer base at the Logistics segment has continued to expand. As referenced in the May 11, 2026 letter to stockholders, the segment has entered into or renewed a number of contracts with leading counterparties, and while these arrangements do not require minimum purchase amounts, they position the segment well for future periods. For example, the segment renewed its service agreement through 2028 with one of the largest waste management companies in North America (a counterparty that contributed more than $3 million of segment revenue in 2025, on terms that include CPI escalators and a fuel surcharge), and added a Tampa green waste contract, a Sarasota commercial disposal agreement, and a new Florida hauling contract.
Operational Highlights
First quarter of operations on the upgraded Myakka City processing platform. The Komptech XL3 trommel screener with automated three-stacker conveyor system, deployed in March, operated alongside the Diamond Z horizontal grinder and Komptech Crambo shredder previously brought in-house. The integrated processing circuit supported the introduction of the new land-clearing service line and the continued ramp of the Company's bulk materials production.
Zimmer Equipment Inc. capitalized on contracted hauling activity and delivered positive bottom-line results. Higher utilization across contracted hauling agreements, together with disciplined cost management, drove a 190 basis-point expansion in segment gross margin versus the fourth quarter of 2025 and produced positive operating income for the quarter.
Microtec UTM 1200 Turbo Mill on track for second-half 2026 commissioning. Microtec commissioning remains an important catalyst for the Company in 2026, with meaningful engineering and integration progress continuing alongside vendors and the Company's turnkey integration partner.
Looking Forward
RenX is focused on three priorities for the balance of 2026. First, building on Logistics segment operating leverage by continuing to grow utilization and margin on contracted activity. Second, scaling the Biomass Recycling segment as sales of materials and the newly introduced service lines enter the spring and summer demand cycle. Third, advancing the Microtec UTM 1200 Turbo Mill through commissioning in the second half of the year, which the Company believes will allow it to begin producing and selling locally produced engineered substrate and meaningfully expand the Biomass Recycling product mix. As previously announced, the Company will continue to work with its advisor Robert Jacobson on prospective offtaker meetings for the engineered substrate as the Microtec commissioning advances. Together, these priorities are intended to compound the segment-level operating progress demonstrated in the first quarter.
Segment-Level EBITDA and Adjusted EBITDA Reconciliation (Non-GAAP)
The following table presents EBITDA and Adjusted EBITDA for each of the Company's Biomass Recycling and Logistics segments for the three months ended March 31, 2026, reconciled to net income(loss.) of the applicable segment. EBITDA and Adjusted EBITDA for each of the Company's Biomass Recycling and Logistics segments are non-GAAP measures.
Description ($000s)
Biomass Recycling
Logistics
Net income (loss)
$(1,070
