QTEK - QTEK STOCK NEWS

QualTek Services Inc. (NASDAQ: QTEK) will join the Russell Microcap® Index effective June 27, 2022. This inclusion, confirmed in a preliminary list on June 3, signifies a key milestone for the company, highlighting its commitment to growth in 5G wireless, telecommunications, renewables, and power grid modernization sectors. The Russell Microcap® Index is used by investment managers for index funds and benchmarks, representing approximately $12 trillion in assets. CEO Scott Hisey emphasized the importance of this step for the company's strategy and thanked stakeholders for their support.

QualTek Services Inc. (NASDAQ: QTEK) reported strong financial results for Q1 2022, with revenue increasing by 24.4% to $148.2 million due to growth in its Telecom and Renewables segments. The company's backlog reached a historic $2.2 billion, signaling robust demand. However, a net loss of $40.5 million was noted, attributed to transaction costs and public company readiness expenses. Adjusted EBITDA improved to $4.0 million, up 38% from the previous year. The company also extended its ABL maturity to July 2025, enhancing liquidity for future growth.

QualTek Services Inc (NASDAQ: QTEK) announced it will release its First Quarter 2022 financial results on May 17, 2022, after market close. The company will host a conference call on May 18, 2022 at 9:00 a.m. ET to discuss its results and outlook. QualTek is a leading infrastructure services provider in the North American 5G, telecom, and renewable energy sectors, with over 80 operation centers and a workforce of 5,000+ employees.

QualTek Services Inc. (NASDAQ: QTEK) reported its full year 2021 financial results, revealing a revenue of $612.2 million, down 6.7% from 2020, with a net loss of $101.6 million. The fourth quarter generated $147.1 million in revenue, an 11.0% increase year-over-year, and a net loss of $81.1 million. Adjusted EBITDA significantly rose to $60.0 million, up 356.9% from 2020, driven by margin improvements. A strong backlog of $2.1 billion was reported, reflecting a 22.0% increase. The company anticipates continued growth in 2022 supported by infrastructure developments and reduced COVID-19 restrictions.

QualTek Services Inc (NASDAQ: QTEK) will release its fourth quarter and fiscal year 2021 financial results on March 31, 2022, after market close. A conference call is scheduled for April 1, 2022, at 9:00 a.m. ET to discuss the results and future outlook. QualTek, a leading infrastructure services provider in North America, focuses on 5G wireless, telecom, power grid modernization, and renewable energy sectors, operating over 80 centers and employing more than 5,000 people.

QualTek Services Inc. (NASDAQ: QTEK) will be presenting at the 34th Annual Roth Conference on March 14, 2022, at 2:30 p.m. PT in Orange County, CA. CEO Scott Hisey and CFO Adam Spittler will lead the presentation at 5:30 p.m. ET. The conference will feature 1-on-1 meetings, thematic panels, and presentations from around 400 companies across various sectors. QualTek specializes in infrastructure services for 5G wireless, telecom, power grid modernization, and renewable energy, boasting over 80 operation centers and 5,000 employees in North America.

QualTek Services Inc. (NASDAQ: QTEK) announced the appointment of Daniel Lafond as an independent board member, effective March 2, 2022. Lafond brings over 20 years of experience from companies like AT&T and Comcast. This appointment follows the earlier additions of Jigisha Desai and Sam Chawla to the board. QualTek aims to enhance leadership during a significant growth period, focusing on the execution of its 5G network backlog. The company operates across North America with a workforce of over 5,000, targeting telecommunications and renewable energy sectors.

QualTek Services Inc. (NASDAQ: QTEK) announced the completion of its business combination with Roth CH Acquisition III Co. on February 15, 2022. Following the approval at a Special Meeting of Stockholders on February 14, QualTek's Class A common stock and warrants will begin trading on Nasdaq under the symbols QTEK and QTEKW from February 16. CEO Scott Hisey expressed optimism for growth in the 5G and telecom sectors, supported by a significant $1.7B backlog of contracts. The company aims to capitalize on opportunities in the renewable energy and modernization spaces.

BCP QualTek HoldCo has entered a definitive agreement with Roth CH Acquisition III Co. (NASDAQ: ROCR) for a business combination, making QualTek a public company under the new ticker symbol QTEK. The merger is expected to close in Q3 2021, with $66 million from a PIPE investment and $44 million in convertible notes intended for working capital and acquisitions. QualTek, a provider of infrastructure services in the 5G, telecom, and renewable energy sectors, boasts a $1.7 billion backlog and over 5,000 employees. The transaction values the combined company at approximately $829 million.