QUARTERHILL INC - QTRHF STOCK NEWS

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) announced a 10-year contract with the Alameda County Transportation Commission for an electronic toll system for the I-680 Express Lanes, valued at approximately CAD$80 million. The contract includes options for four additional years of operation and maintenance. Electronic Transaction Consultants, LLC (ETC), a subsidiary of Quarterhill, will implement its next-generation toll management system, designed to enhance mobility and alleviate congestion. This initiative aims to improve the experience for motorists in Alameda County.

Quarterhill reported its Q3 fiscal 2022 financial results, showing consolidated revenue of $42.4 million, up from $36.3 million year-over-year. ITS revenue reached $42.2 million with an Adjusted EBITDA of $1.9 million. Their cash and equivalents stood at $76.0 million, with working capital at $112.8 million. The company reduced its long-term debt to $30.2 million, down from $62.1 million last year. The Board also declared a quarterly dividend of $0.0125 per share for January 2023. Looking ahead, Quarterhill anticipates growth in both revenue and Adjusted EBITDA for 2023.

Quarterhill Inc. has secured two contracts worth $3.3 million for advanced electronic screening systems in South Dakota and Nebraska. The South Dakota Department of Transportation will implement a fifth E-Screening system, enhancing vehicle safety by detecting issues like underinflated tires. Nebraska will upgrade two existing systems with E-Screening and tire safety features to improve its commercial vehicle safety program. These expansions demonstrate IRD's growing influence in the commercial vehicle enforcement sector, aiming to increase efficiency and road safety.

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) will release its financial results for the three- and nine-month periods ended September 30, 2022, on November 10, 2022. The results will be discussed in a conference call at 10:00 a.m. ET. This disclosure is part of Quarterhill's ongoing commitment to transparency as it aims for global leadership in the Intelligent Transportation System (ITS) sector through organic growth and strategic acquisitions.

On October 21, 2022, Wi-LAN Inc., a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), announced a licensing and settlement agreement with Micron Technology. This deal covers patents related to semiconductor memory technologies, resolving ongoing patent litigation in the United States and China. The financial terms and license fees associated with this agreement remain confidential. Wi-LAN specializes in patent monetization across various sectors, enhancing its position within the semiconductor industry.

Quarterhill Inc. (TSX: QTRH; OTCQX: QTRHF) announced that its subsidiary, Electronic Transaction Consultants (ETC), has received an "intent to award" from the Alameda County Transportation Commission for a ten-year contract. This contract involves the implementation of a next-generation electronic toll system for express lanes, with options for four additional years. The project aims to enhance mobility and reduce congestion. CEO Kevin Holbert highlighted ETC's commitment to delivering advanced technology and superior customer service.

Quarterhill reported Q2 2022 financial results with consolidated revenue of $43.9 million, significantly up from $18.9 million in Q2 2021. Adjusted EBITDA was (9.0 million), impacted by project delays and inflationary pressures. Cash reserves grew to $122.9 million and working capital was $138.1 million. The ITS segment backlog reached a record US$573.0 million. Despite challenges, the company anticipates improved revenue and margin performance moving forward. A quarterly dividend of $0.0125 per share was declared, payable on October 7, 2022.

Quarterhill Inc. (TSX: QTRH; OTCQX: QTRHF) reported Q2 2022 financial results with consolidated revenue of $43.9 million, a significant increase from $18.9 million a year earlier. However, Adjusted EBITDA was (9.0 million) due to project implementation delays and increased operating expenses, which included a $14.6 million litigation charge. The company’s cash reserves rose to $122.9 million, and it appointed new key executives. A quarterly dividend of $0.0125 per share was declared, payable October 7, 2022.