Quarterhill Stock Price, News & Analysis

Quarterhill Inc. (QTRHF) reported strong financial results for Q1 2022, with consolidated revenue reaching $168.5 million, significantly up from $19.3 million in Q1 2021. Adjusted EBITDA was $79.1 million, a substantial increase from a $408,000 loss in the prior year. WiLAN's licensing segment drove revenue growth, while ITS revenues benefited from acquisitions. Gross margin improved to 55% compared to 34% in Q1 2021. A quarterly dividend of $0.0125 was declared for July 2022, enhancing shareholder returns.

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) announced the appointment of Kim Stevenson to its board of directors. With over three decades in IT and operations, Stevenson has held leadership roles at major tech firms such as Intel, NetApp, and Lenovo. Her extensive experience is expected to contribute to Quarterhill's growth in the Intelligent Transportation System (ITS) market. John Gillberry, Chair of Quarterhill, expressed optimism about her impact on the company’s strategic direction and ability to navigate industry transformations.

Quarterhill Inc. (TSX: QTRH; OTCQX: QTRHF) announces the appointment of Andrew Parolin as the new CEO of its subsidiary, Wi-LAN Inc., effective May 12, 2022. Parolin, who has 15 years of experience at WiLAN, most recently held the position of Senior Vice-President, Licensing. Under his leadership, WiLAN has secured licensing agreements with over 100 companies, including major players like LG and Cisco. His extensive background in patent licensing and continuity within the team is expected to bolster Quarterhill's leadership.

International Road Dynamics Inc. (IRD), a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), has secured two contracts worth $1.2 million for Weigh-In-Motion (WIM) system upgrades from the Illinois State Toll Highway Authority. The project involves replacing existing systems on I-94 and I-355 with upgraded Virtual Weigh-In-Motion (VWIM) sites to enhance vehicle monitoring for compliance with weight and tire safety regulations. The initiative aims to improve road safety and operational efficiency while integrating advanced tire anomaly detection technology.

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) announces the unexpected passing of Michael Vladescu, CEO of its subsidiary Wi-LAN, on May 4, 2022. Michael joined Wi-LAN in 2012 and became CEO in 2019, earning respect for his leadership and contributions. Bret Kidd, Quarterhill's CEO, and Jim Skippen, Vice-Chair, expressed their condolences and acknowledged Michael's impact on the company and community. The Board will announce future leadership plans for Wi-LAN shortly. Quarterhill is focused on growth in the Intelligent Transportation System industry and continued investment strategies.

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) is set to release its Q1 fiscal 2022 financial results for the period ending March 31, 2022, on May 12, 2022. A conference call and audio webcast, hosted by President and CEO Bret Kidd and Interim CFO Steve Thompson, will take place at 10:00 a.m. ET. Interested parties can join via toll-free numbers or the provided webcast link. Quarterhill is focused on growth in the Intelligent Transportation Systems (ITS) sector and aims to expand through both organic growth and acquisitions.

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) held its Annual and Special Meeting on April 21, 2022. Shareholders voted on key resolutions, resulting in the approval of the Board of Directors' nominees, the appointment of Ernst & Young LLP as auditors, and amendments to the 2018 Equity Incentive Plan. Notably, a shareholder proposal for director term limits was rejected, with 78.88% voting against it. The meeting reflects Quarterhill's ongoing commitment to governance and shareholder engagement.

International Road Dynamics (IRD), a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), has secured a four-year Quantity Purchase Agreement valued at over $10.8 million with the Indiana Department of Transportation (INDOT). This agreement, following a previous $5.5 million deal in March 2022, involves the installation and maintenance of traffic data collection systems. IRD will support INDOT's safety and infrastructure goals through this collaboration, ensuring the accuracy and reliability of vehicle weight data systems.

Quarterhill Inc. (QTRHF) announced a $21.5 million contract awarded to Electronic Transaction Consultants (ETC) for the development of the E-ZPass Interoperability Hub. This 10-year contract with the Triborough Bridge and Tunnel Authority will enhance transaction data exchange among E-ZPass member agencies and support future mobility initiatives. The hub aims to facilitate national toll interoperability and streamline interstate tolling processes, benefiting over 32 million accounts and managing $12.1 billion in toll revenues.