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Quarterhill Inc. focuses on the acquisition and management of technology companies that provide products and services globally. Their technology licensing segment includes patents related to various technologies such as 3D television, semiconductor manufacturing, medical stent, LED lighting, and more. The company's intelligent systems segment offers integrated systems and solutions for automated truck weigh stations, toll road systems, traffic management, and vehicle information systems. Quarterhill aims for global leadership in the Intelligent Transportation System industry through organic growth and strategic acquisitions.
Quarterhill has secured two contracts worth $3.4 million with the Idaho Transportation Department for system upgrades and maintenance at Commercial Vehicle Enforcement stations. The first contract involves upgrading the Inkom Port-of-Entry weigh station with advanced technology, including license plate readers, cameras, and Single-Load-Cell WIM Scales. The second contract provides one-year maintenance services for electronic screening and virtual weigh station sites, with an option for a one-year extension. The Inkom project notably includes a Tire Anomaly and Classification System (TACS) to detect tire issues, enhancing road safety and operational efficiency.
Quarterhill Inc reported Q3 2024 financial results with revenue of $38.0 million, up 12% from Q3 2023. The company experienced a negative Adjusted EBITDA of ($2.8) million compared to $1.4 million in Q3 2023. Revenue backlog stood at $475 million. The quarter was marked by new enforcement unit contracts in multiple locations and a $3.8 million dividend from Wi-LAN Inc. The company took $4 million in reserves for two tolling contracts, impacting margins. Quarterhill expects to return to positive Adjusted EBITDA in Q4 2024 and projects growth into 2025.
Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF) has announced it will release its financial results for Q3 2024 on Friday, November 8, 2024. CEO Chuck Myers and CFO Kyle Chriest will host a conference call and audio webcast at 10:00 a.m. ET on the same day. The company will provide results for both the three and nine-month periods ended September 30, 2024. A live audio webcast will be available, with replay options accessible via both webcast and telephone until November 15, 2024.
Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF) has announced the formation of a Technical Advisory Committee and the addition of two external advisors. Bobby Parikh, an engineering executive with experience at Uber, Google, and deCarta, joins as a Special Advisor to the CEO and committee member. His expertise in mapping platforms and applications is expected to be valuable for Quarterhill's artificial intelligence capabilities and tolling solutions.
Vineet Khosla, previously announced to join the Board of Directors, will instead join the Technical Advisory Committee in a non-fiduciary role. Khosla's expertise in artificial intelligence and machine learning, particularly in transportation-related applications, is anticipated to benefit the company. The committee aims to guide Quarterhill's technology roadmap and system architecture, focusing on emerging AI and ML applications.
Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF) has secured two contracts worth $5.8 million to supply advanced Commercial Vehicle Enforcement technology for North Carolina Department of Public Safety (NCDPS) State Patrol weigh stations. The projects, located in Hendersonville and Halifax County, aim to enhance vehicle screening and improve safety and efficiency of commercial motor vehicle operations.
Key features include:
- Advanced weigh-in-motion (WIM) systems with electronic screening
- Virtual weigh stations
- Mainline sorter systems with Tire Anomaly and Classification Systems
- License Plate Recognition (LPR) technology
These upgrades will enable more efficient management and regulation of commercial vehicle operations, reducing manual checks and increasing road safety.
Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF) has been awarded a contract to supply 15 portable iTHEIA™ AI Video Automatic Traffic Recorders to the Minnesota Department of Transportation (MnDOT). iTHEIA is a self-contained, non-intrusive traffic classifier that uses advanced AI to accurately count and classify vehicles according to the FHWA 13-Class scheme. The system operates on edge computing, ensuring high accuracy without internet connectivity, and can be set up in under 30 minutes.
Key benefits of iTHEIA include:
- Improved road safety and traffic management
- Elimination of in-road sensors, reducing costs and enhancing safety
- Ability to monitor three lanes of traffic without risking staff safety
- Compliance with federal reporting requirements
This contract represents a significant milestone for Quarterhill, reinforcing its commitment to revolutionizing traffic data collection using AI technology.
Quarterhill (TSX: QTRH, OTCQX: QTRHF), a leader in tolling and enforcement solutions, reported Q2 2024 financial results. Key highlights include:
- Revenue of $41.5M, up 7.5% YoY
- Adjusted EBITDA of $1.7M, down from $2.9M last year
- Positive cash flow from operations at $0.8M compared to negative $10.3M in Q2 2023
- Revenue backlog of $500M
However, the gross profit fell to $8.5M (21% margin) from $10M (26% margin) in Q2 2023. Total operating expenses were $10.8M. The net loss from continuing operations was $3M, a significant improvement from last year's $10.2M loss. Cash and cash equivalents stood at $24M, down from $42.7M at year-end 2023. Vineet Khosla joined the Board, adding AI and ML expertise.
Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF) has announced that it will release its financial results for Q2 2024 on Friday, August 9, 2024. The company will host a conference call and audio webcast at 10:00 a.m. ET on the same day, led by CEO Chuck Myers and CFO Kyle Chriest. Investors can access the live audio webcast or join via traditional dial-in methods. A webcast replay and telephone replay will be available until August 16, 2024. This announcement provides shareholders and analysts with an opportunity to review Quarterhill's financial performance for the three and six months ended June 30, 2024, and potentially gain insights into the company's future outlook.
Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF) has been awarded a $1.2 million contract by the South Dakota Department of Transportation (SDDOT) for maintenance, training, and emergency repair services through December 2026. The contract covers:
1. Maintenance of E-Screening systems at six weigh stations and 28 traffic data collection sites
2. Semi-annual maintenance visits and system calibrations
3. Training courses for SDDOT operators
4. Operation of a central server for data exchange
5. Licenses for iAnalyze reporting software and access to VI2M™ web-based data repository
This contract extends Quarterhill's software services and demonstrates its commitment to providing advanced transportation technology solutions and professional services to enhance roadway safety and streamline traffic operations.
Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF) has announced $4.9 million in transportation technology product sales in Thailand and South Korea. The company secured a $2.8 million agreement with T.M.S. Engineering in Thailand for high-speed Weigh-In-Motion preclearance systems and components for Ministry of Transportation projects. In South Korea, S.A. Technology Co., committed $2.1 million for IRD-PAT Bending Plate WIM scales and SAW portable enforcement scales.
These strategic partnerships reinforce Quarterhill's market presence in Asia and its commitment to global transportation innovation. The company aims to improve road safety, efficiency, and infrastructure resilience in emerging markets while bolstering weight enforcement systems in South Korea.
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