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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 (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.
Quarterhill's subsidiary, VDS Verkehrstechnik, has secured vital homologation certificates for its advanced M5 Speed enforcement camera from Germany's PTB and Austria's BEV, paving the way for sales in these countries. The M5 Speed camera boasts high-precision speed measurement, robust encryption using ECDSA P-256 Elliptical Curve Cryptography, and unmatched reliability. It's engineered for all-weather conditions, ensuring seamless operation year-round. This groundbreaking technology enhances road safety by significantly reducing speed violations. The certifications affirm the M5 Speed's reliability, security, and legal validity, making it a significant player in the traffic enforcement industry.
Quarterhill has secured two contracts worth $1.5 million to provide and maintain their AI-based iTHEIA™ traffic monitoring systems at 17 sites in North Dakota. These systems will enhance the North Dakota Department of Transportation's (NDDOT) traffic data collection capabilities, aiding in highway planning, design, maintenance, and management. The contract includes upgrades at 14 existing sites and installations at three new locations: Bismarck Expressway, Buxton, and Bowesmont. The iTHEIA™ system, utilizing video and machine learning, offers high reliability, safety, cost-effectiveness, and continuous data collection, essential for transportation infrastructure planning.
Quarterhill held its Annual General and Special Meeting on May 13, 2024, where shareholders voted on several key resolutions. The election of directors saw Roxanne Anderson, Rusty Lewis, William Morris, Chuck Myers, Pamela Steer, and Anna Tosto confirmed, with the majority receiving over 87% approval. Ernst & Young LLP was reappointed as auditors with 99.36% support. Amendments to the 2018 Equity Incentive Plan were approved with 92.55% votes, and the employee share purchase plan received 93.99% approval. Full details are available in the April 4, 2024, Notice of Meeting and Management Information Circular.
Quarterhill Inc. announces its financial results for Q1 2024, reporting revenue of $34.9 million, up 23% from Q1 2023, with Adjusted EBITDA at $0.2 million. The company acquired Red Fox I.D. and secured a $3.9 million contract with the Tennessee Department of Transportation. The tolling business signed a five-year extension with Illinois Tollway. Quarterhill aims to enhance technology and transportation software capabilities, streamline operations, and drive efficiency to achieve top-line growth and margin expansion.
Quarterhill Inc. announces that its subsidiary, Red Fox ID , has won two prestigious King's Awards for Innovation and International Trade. Red Fox's AVDC technology and Quantum system have been recognized for their excellence in enhancing tolling efficiency and accuracy, showcasing the company's commitment to research and development.
Quarterhill Inc. announces its participation as a Platinum sponsor at the IBTTA Technology Summit, showcasing its tolling solutions and highlighting the integration of ETC and Red Fox into its portfolio. This move solidifies Quarterhill's position as a leading provider of integrated ITS solutions in the industry.
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