QUARTERHILL INC - QTRHF STOCK NEWS

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.

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) will release its financial results for the second quarter of fiscal 2022 on August 11, 2022. This announcement covers the three- and six-month periods ending June 30, 2022. Following the results, a conference call will be held at 10:00 a.m. ET with President and CEO Bret Kidd and CFO John Karnes.

Investors can access the live audio webcast and replay through the provided links. This update reflects Quarterhill’s commitment to transparency and investor engagement in the Intelligent Transportation Systems industry.

International Road Dynamics Inc. (IRD), a subsidiary of Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF), has been awarded a $13.8 million contract by the New York State Department of Transportation (NYSDOT) for a two-year period. The contract covers the installation and maintenance of permanent traffic data collection systems at 68 sites across New York State. IRD will utilize its iTHEIA AI-powered, non-intrusive data collection technology, enhancing safety and cost-effectiveness while ensuring a minimum uptime of 95%.

Quarterhill's subsidiary, Wi-LAN, has secured a license agreement for its wireless technology patents with a second major automotive manufacturer. This agreement underscores the strength of WiLAN's portfolio, particularly in LTE and 5G technologies relevant to modern vehicles. Financial specifics of the agreement are confidential. WiLAN is recognized as a leader in patent monetization across various sectors, including automotive and wireless communications.

International Road Dynamics has secured a $2.2 million contract from the state of Idaho to enhance the weigh station facilities on Interstate 84 near Declo. This project will introduce advanced weigh-in-motion and tire screening technology, helping to improve safety and efficiency for commercial vehicles. This will be the sixth weigh station upgraded in Idaho, featuring IRD's automated systems that allow for high-speed weighing and pre-screening of trucks. This effort aims to better meet federal compliance standards while reducing wait times and emissions for compliant carriers.

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.