Latest news with #IntelligentTransportationSystem
Express Tribune
3 days ago
- Politics
- Express Tribune
Pakistan to ramp up action against illegal foreigners, power theft and begging mafia
Listen to article Pakistan's government will intensify operations targeting undocumented foreign nationals, electricity theft, and organised street begging, state broadcaster PTV reported on Saturday, citing the Interior Ministry. The decision followed a high-level security meeting chaired by Federal Interior Minister Mohsin Naqvi — the third such session under the Counter-Terrorism Committee and the Harden the State Committee. The meeting focused on enhancing inter-agency coordination to curb illicit activities posing a threat to internal stability. Minister Naqvi stated that the National Database and Registration Authority (NADRA) would enable real-time data verification at border exit points. Read: Iran border to stay open 24/7 during Muharram, Arbaeen He also urged strict implementation of the 'One Document Regime' and proposed declaring street begging a non-bailable offence, calling the so-called begging mafia a blot on the country's reputation. Support is also being extended to the Ministry of Energy to combat power theft, which has seen Rs. 142 billion recovered in joint efforts with provincial administrations, a ministry official reported. More than 250 intelligence-based operations are now being conducted daily across the country, targeting various forms of organised illegality. The session also reviewed progress on anti-encroachment drives, digital fuel pump regulation, and the upcoming establishment of the Pakistan Port Authority. Developments in the Gwadar City Safe City Project, including the construction of a protection wall and deployment of digital enforcement stations on the Indus River, were discussed. Efforts to install an Intelligent Transportation System (ITS) for highway surveillance and a new legal mechanism allowing customs officers and deputy commissioners to seal petrol stations selling illegal fuel were also outlined. Among those in attendance were Minister of State for Interior Tallal Chaudhry, Punjab Law Minister Sohaib Ahmed Bharti, Khyber Pakhtunkhwa Information Advisor Barrister Muhammad Ali Saif, and Gilgit-Baltistan's Interior Minister. Also present were top officials from the Federal Investigation Agency (FIA), National Counter Terrorism Authority (NACTA), and security agencies nationwide. Read More: Begging abroad to be treated as terrorism Last week, Minister Naqvi presided over a key meeting where decisive actions were approved against Pakistani nationals deported from other countries. It was agreed that First Information Reports (FIRs) will be filed against all deportees, their passports will be revoked, and their names will be added to the Passport Control List for a duration of five years. Highlighting the damage caused to the country's global standing, Minister Naqvi stated that deportees have become a source of diplomatic embarrassment and that the state will now adopt a zero-tolerance approach toward such individuals. R: 2,239 Afghans deported via Torkham Meanwhile, Pakistan has continued deporting Afghan refugees as part of a broader campaign targeting illegal residency. In addition to deportations at the border, enforcement actions have been stepped up in urban centres.
Cision Canada
15-05-2025
- Business
- Cision Canada
Quarterhill Announces Q1 2025 Financial Results
TORONTO, May 15, 2025 /CNW/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System ("ITS") industry, announces its financial results for the three months ended March 31, 2025. All financial information in this press release is reported in United States ("US") dollars, unless otherwise indicated. Q1 2025 Highlights Revenue for Q1 2025 was $33.9 million compared to $34.9 million in Q1 2024. Adjusted EBITDA 1 for Q1 2025 was ($3.4) million compared to $0.2 million in Q1 2024. Adjusted EBITDA 1 for Q1 2025 was negatively impacted by ($3.2) million due to two tolling contracts that are currently under renegotiation. Revenue backlog 3 was $476 million at March 31, 2025. Cash used in operations for Q1 2025 was ($3.6) million compared to ($10.1) million in Q1 2024. Cash and cash equivalents were $26.1 million at March 31, 2025. Announced $40 million Renewal Contract to Upgrade Alameda CTC I-580 Express Lanes and provide operation and maintenance over seven years, with a potential four-year expansion valued at another $15 million. Subsequent to quarter-end, received a $3.2 million dividend from Wi-LAN Inc. ("WiLAN"). "Q1 2025 results reflect our ongoing business transformation," said Chuck Myers, CEO at Quarterhill. "While performance was impacted by our seasonally slow first quarter and the two tolling contracts that are in renegotiation, we continue to make meaningful progress on our turnaround strategy, positioning us for long-term success. Despite challenges, our project operations once again delivered strong revenue growth and margins. In addition, we remain actively engaged in renegotiating the two tolling contracts that negatively impacted our Adjusted EBITDA by $3.2 million this quarter, with the goal of securing a favorable outcome that would improve our financial performance in future quarters." Mr. Myers continued: "Beyond our operational progress, we benefited from a WiLAN dividend payment received after the quarter ended, which contributes positively to our cash position and will be reflected in our Q2 2025 financials. We remain confident in our ability to drive revenue growth and margin improvement as we move past the first quarter and progress through 2025, particularly as our contract renegotiations conclude and our operational enhancements and technology investment take fuller effect." Q1 2025 Financial Review Quarterhill's Management's Discussion and Analysis and Financial Statements for the three months ended March 31, 2025 are available at the Company's website and at its profile at SEDAR +. Revenues for the three months ended March 31, 2025, were $33.9 million compared to $34.9 million in the same period last year. The decrease in Q1 2025 revenue was due primarily to the timing of revenues received from certain tolling contracts, and offset, in part, by revenue growth from the enforcement operations. The two tolling contracts that are being renegotiated contributed $3.6 million to revenue in Q1 2025. Gross profit 2 as a value and as a percentage of revenues may be subject to significant variance in each reporting period due to the nature and type of contract and service work performed and currency volatility. Gross profit for the three months ended March 31, 2025, was $3.9 million, or 12%, as compared to $6.4 million, or 18%, in the same period last year. The decrease in Q1 2025 was primarily due to cost overruns on two tolling projects, and offset, in part, by continued strong margin performance from the enforcement operations. Total operating expenses are comprised of selling, general and administrative costs ("SG&A"), research and development ("R&D") costs, depreciation, amortization of intangible assets and other charges. Total operating expenses for the three months ended March 31, 2025, were $11.2 million compared to $10.5 million in the same period last year. The Q1 2025 increase is primarily due to recruitment, technical consulting and facilities expenses, which was offset in part by a decrease in amortization expense and other charges. Adjusted EBITDA 1 for the three months ended March 31, 2025, was ($3.4) million compared to $0.2 million in the same period last year. The Q1 2025 decrease in Adjusted EBITDA 1 compared to Q1 2024, was due to the factors impacting revenue, gross margin and expenses, as previously described. The two tolling contracts that are being renegotiated resulted in a reduction to Adjusted EBITDA 1 of ($3.2) million in Q1 2025. Net loss for the three months ended March 31, 2025, was ($8.4) million, or ($0.07) per diluted share, compared to a net loss of ($4.2) million, or ($0.04) per diluted share, in the same period last year. Cash used in continuing operations for the three months ended March 31, 2025, was ($3.6) million compared to ($10.1) million in the same period last year. Cash and cash equivalents were $26.1 million at March 31, 2025, compared to $31.9 million at December 31, 2024. Due to the nature of the Company's business activities, operating cash flows may vary significantly between periods due to changes and timing in working capital balances. Working capital was $22.4 million at March 31, 2025, compared to $28.9 million at December 31, 2024. Adjusted Working Capital 4 was $59.8 million at March 31, 2025, compared to $66.2 million at December 31, 2024. Conference Call and Webcast Quarterhill will host a conference call to discuss its financial results on Thursday, May 15, 2025, at 10:00 AM Eastern Time. Webcast Information Traditional Dial-in Information To access the call from the U.S. and Canada, dial 1.888.699.1199 (Toll Free) To access the call from other locations, dial 1.416.945.7677 (International) Rapidconnect To instantly join the conference call by phone, please use the following URL to easily register and be connected into the conference call automatically: Telephone Replay Telephone replay will be available from May 15, 2025, until May 22, 2025, at: 1.888.660.6345 (Toll Free North America) or 1.289.819.1450. Conference ID: 47107 and Replay Passcode: 47107 # Non-IFRS Financial Measures and Non-IFRS Ratios Quarterhill uses both IFRS and certain non-IFRS financial measures to assess performance. Non-IFRS financial measures are financial measures disclosed by a company that (a) depict historical or expected future financial performance, financial position or cash flow of a company, (b) with respect to their composition, exclude amounts that are included in, or include amounts that are excluded, from the composition of the most directly comparable financial measure disclosed in the primary financial statements of the company, (c) are not disclosed in the financial statements of the company, and (d) are not a ratio, fraction, percentage or similar representation. Non-IFRS ratios are financial measures disclosed by a company that are in the form of a ratio, fraction, percentage or similar representation that has a non-IFRS financial measure as one or more of its components, and that are not disclosed in the financial statements of the company. These non-IFRS financial measures and non-IFRS ratios are not standardized financial measures under IFRS, and, therefore, are unlikely to be comparable to similar financial measures presented by other companies. Management believes these non-IFRS financial measures and non-IFRS ratios provide transparent and useful supplemental information to help investors evaluate our financial performance, financial condition, and liquidity using the same measures as management. These non-IFRS financial measures and non-IFRS ratios should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with IFRS. Adjusted EBITDA - Non-IFRS Financial Measures We use the non-IFRS financial measure "Adjusted EBITDA" to mean net loss adjusted for (i) income taxes, (ii) finance expense or income; (iii) amortization and impairment of intangibles; (iv) other charges and other one-time items; (v) depreciation of right-of-use assets and property, plant and equipment; (vi) stock-based compensation; (vii) foreign exchange loss (gain); and (viii) other (income) expense and (ix) changes in fair value of derivative liability. Adjusted EBITDA is used by our management to assess our normalized cash generated on a consolidated basis. Adjusted EBITDA is also a performance measure that may be used by investors to analyze the cash generated by Quarterhill. Adjusted EBITDA should not be interpreted as an alternative to net income (loss) and cash flows from operations as determined in accordance with IFRS or as measure of liquidity. The most directly comparable IFRS financial measure is Net income (loss). Adjusted EBITDA per share – Non-IFRS Ratio Adjusted EBITDA per share is calculated as Adjusted EBITDA divided by the basic weighted average of common shares. Adjusted EBITDA per share is used by our management and investors to analyze cash generated by Quarterhill on a per share basis. The most comparable IFRS measure is earnings per share. Adjusted Working Capital – Non-IFRS Financial Measure Adjusted Working Capital is calculated as current assets minus current liabilities, adjusted for convertible debentures and derivative liability. Adjusted Working Capital reflects our net working capital expected to be settled in cash within twelve months. The most comparable IFRS measure is working capital. Backlog - Non-IFRS Financial Measure We use the non-IFRS measure "backlog" to mean the total value of work that has not yet been completed but that in management's experience of similar situations has: (a) a high certainty of being performed pursuant to existing contracts or work orders specifying job scope, value and timing; (b) an expectation of expansion of existing contracts due to expected extensions; and/or (c) been awarded to one or more of our ITS operating subsidiaries as evidenced by a binding contract or where the finalization of a binding contract is reasonably assured. Activities under such contracts may cover a period of up to 15 years. We do not include in "backlog", the value of any expected but unsigned change orders that management considers may apply to such contracts. Supplementary Financial Measures Supplementary financial measures are financial measures disclosed by a company that (a) are, or are intended to be, disclosed on a periodic basis to depict the historical or expected future financial performance, financial position or cash flow of a company, (b) are not disclosed in the financial statements of the company, (c) are not non-IFRS financial measures, and (d) are not non-IFRS ratios. Key supplementary measures disclosed are as follows: Gross margin % Calculated as gross profit as a percentage of revenue. About Quarterhill Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: Forward-looking Information This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements") regarding Quarterhill, its operating subsidiaries and their respective businesses. Such forward-looking statements relate to future events, conditions or future financial performance of Quarterhill based on future economic conditions and courses of action. All statements other than statements of historical fact may be forward-looking statements. Such forward-looking statements are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", "plan", "goal", and similar expressions. These statements involve known and unknown risks, assumptions, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. In particular, this news release contains forward-looking statements pertaining to, but not limited to, the following: operational and financial expectations for the 2025 financial year, including revenue, gross margin and Adjusted EBITDA expectations; the Company's business plan and strategy; the outcome of renegotiation efforts relating to our tolling contracts; the impact of contract renegotiation on our financial performance; and the results of operational enhancements and technology investment by the Company. Although the forward-looking statements contained in this news release are based upon assumptions which management of the Company believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this news release, the Company has made assumptions regarding, but not limited to: the Company's ability to execute on its business plan; successful integration of acquisitions; general economic and industry trends; operating assumptions relating to the Company's operations; demand for the Company's products and services; cost estimates for fixed price contracts; successful renegotiation of our tolling contracts on terms acceptable and favourable to the Company; and the other assumptions set forth in the Company's most recent annual information form available under the Company's profile on SEDAR+ at The Company's actual results could differ materially from those anticipated in the forward-looking statements, as a result of numerous known and unknown risks and uncertainties and other factors including, but not limited to: changes in demand for the Company's products and services; general economic, political, market and business conditions, including fluctuations in interest rates, foreign exchange rates, stock market volatility; reliance on key management personnel; risks related to competition within the Company's industry and relating to technological advances; litigation risks; cyber-security risks; fixed price contracts may result in unexpected costs to the Company; risks of health epidemics, pandemics and similar outbreaks; the tolling contracts not successfully being renegotiated on terms acceptable or favourable to the Company, or at all; and the other risks set forth in the Company's most recent annual information form and management's discussion and analysis for the three and twelve months ended December 31, 2024 available under the Company's profile on SEDAR+ at The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Readers are therefore cautioned that the foregoing lists of important factors are not exhaustive, and they should not unduly rely on the forward-looking statements included in this news release. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. This news release contains "future-oriented financial information" and "financial outlooks" within the meaning of applicable Canadian securities laws (collectively, "FOFI"), including about the financial results, revenue, gross margin and Adjusted EBITDA of Quarterhill for the year ended December 31, 2025. FOFI, as with forward-looking statements generally, are, without limitation, based on the assumptions and qualifications, and are subject to the risks, set out above in respect of forward-looking statements. Quarterhill's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's financial results may differ materially from the FOFI provided in this news release. The Company and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments and the FOFI contained in this news release was approved by management as of the date hereof, for purposes of providing further information about the Company's future business operations and results. However, because this information is subjective and subject to numerous risks and assumptions, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, the Company undertakes no obligation to update such FOFI. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein, and such information is presented for illustrative purposes only and may not be an indication of the Company's actual financial position or results of operations. Interim Condensed Consolidated Statements of Loss and Comprehensive Loss (in thousands and in United States dollars, except share and per share amounts) Interim Condensed Consolidated Statements of Financial Position (in thousands and in United States dollars) Interim Condensed Consolidated Statements of Cash Flows (in thousands and in United States dollars) Interim Condensed Consolidated Statements of Shareholders' Equity (in thousands and in United States dollars) Capital Stock Contributed Surplus Accumulated Other Comprehensive Income Deficit Total Shareholders ' Equity Balance, January 1, 2024 $313,738 $126,129 $15,652 ($312,079) $143,440 Net loss - - - (4,218) (4,218) Other comprehensive loss - - (685) - (685) Stock-based compensation expense - 504 - - 504 Common shares issued from restricted stock units 263 (263) - - - Balance, March 31, 2024 $314,001 $126,370 $14,967 ($316,297) $139,041 Balance, January 1, 2025 $314,630 $127,446 $12,148 ($323,101) $131,123 Net loss - - - (8,370) (8,370) Other comprehensive income - - 561 - 561 Stock-based compensation expense - 944 - - 944 Common shares issued from restricted stock units 456 (658) - - (202) Balance, March 31, 2025 $315,086 $127,732 $12,709 ($331,471) $124,056 Reconciliation of Net Loss to Adjusted EBITDA (in thousands and in United States dollars, except share and per share amounts)
Yahoo
15-05-2025
- Business
- Yahoo
Quarterhill Announces Q1 2025 Financial Results
TORONTO, May 15, 2025 /CNW/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System ("ITS") industry, announces its financial results for the three months ended March 31, 2025. All financial information in this press release is reported in United States ("US") dollars, unless otherwise indicated. Q1 2025 Highlights Revenue for Q1 2025 was $33.9 million compared to $34.9 million in Q1 2024. Adjusted EBITDA1 for Q1 2025 was ($3.4) million compared to $0.2 million in Q1 2024. Adjusted EBITDA1 for Q1 2025 was negatively impacted by ($3.2) million due to two tolling contracts that are currently under renegotiation. Revenue backlog3 was $476 million at March 31, 2025. Cash used in operations for Q1 2025 was ($3.6) million compared to ($10.1) million in Q1 2024. Cash and cash equivalents were $26.1 million at March 31, 2025. Announced $40 million Renewal Contract to Upgrade Alameda CTC I-580 Express Lanes and provide operation and maintenance over seven years, with a potential four-year expansion valued at another $15 million. Subsequent to quarter-end, received a $3.2 million dividend from Wi-LAN Inc. ("WiLAN"). "Q1 2025 results reflect our ongoing business transformation," said Chuck Myers, CEO at Quarterhill. "While performance was impacted by our seasonally slow first quarter and the two tolling contracts that are in renegotiation, we continue to make meaningful progress on our turnaround strategy, positioning us for long-term success. Despite challenges, our project operations once again delivered strong revenue growth and margins. In addition, we remain actively engaged in renegotiating the two tolling contracts that negatively impacted our Adjusted EBITDA by $3.2 million this quarter, with the goal of securing a favorable outcome that would improve our financial performance in future quarters." Mr. Myers continued: "Beyond our operational progress, we benefited from a WiLAN dividend payment received after the quarter ended, which contributes positively to our cash position and will be reflected in our Q2 2025 financials. We remain confident in our ability to drive revenue growth and margin improvement as we move past the first quarter and progress through 2025, particularly as our contract renegotiations conclude and our operational enhancements and technology investment take fuller effect." Q1 2025 Financial ReviewQuarterhill's Management's Discussion and Analysis and Financial Statements for the three months ended March 31, 2025 are available at the Company's website and at its profile at SEDAR+. Revenues for the three months ended March 31, 2025, were $33.9 million compared to $34.9 million in the same period last year. The decrease in Q1 2025 revenue was due primarily to the timing of revenues received from certain tolling contracts, and offset, in part, by revenue growth from the enforcement operations. The two tolling contracts that are being renegotiated contributed $3.6 million to revenue in Q1 2025. Gross profit2 as a value and as a percentage of revenues may be subject to significant variance in each reporting period due to the nature and type of contract and service work performed and currency volatility. Gross profit for the three months ended March 31, 2025, was $3.9 million, or 12%, as compared to $6.4 million, or 18%, in the same period last year. The decrease in Q1 2025 was primarily due to cost overruns on two tolling projects, and offset, in part, by continued strong margin performance from the enforcement operations. Total operating expenses are comprised of selling, general and administrative costs ("SG&A"), research and development ("R&D") costs, depreciation, amortization of intangible assets and other charges. Total operating expenses for the three months ended March 31, 2025, were $11.2 million compared to $10.5 million in the same period last year. The Q1 2025 increase is primarily due to recruitment, technical consulting and facilities expenses, which was offset in part by a decrease in amortization expense and other charges. Adjusted EBITDA1 for the three months ended March 31, 2025, was ($3.4) million compared to $0.2 million in the same period last year. The Q1 2025 decrease in Adjusted EBITDA1 compared to Q1 2024, was due to the factors impacting revenue, gross margin and expenses, as previously described. The two tolling contracts that are being renegotiated resulted in a reduction to Adjusted EBITDA1 of ($3.2) million in Q1 2025. Net loss for the three months ended March 31, 2025, was ($8.4) million, or ($0.07) per diluted share, compared to a net loss of ($4.2) million, or ($0.04) per diluted share, in the same period last year. Cash used in continuing operations for the three months ended March 31, 2025, was ($3.6) million compared to ($10.1) million in the same period last year. Cash and cash equivalents were $26.1 million at March 31, 2025, compared to $31.9 million at December 31, 2024. Due to the nature of the Company's business activities, operating cash flows may vary significantly between periods due to changes and timing in working capital balances. Working capital was $22.4 million at March 31, 2025, compared to $28.9 million at December 31, 2024. Adjusted Working Capital4 was $59.8 million at March 31, 2025, compared to $66.2 million at December 31, 2024. 1. Please refer to the Adjusted EBITDA Non-IFRS Financial Measures section for further information. 2. Please refer to Gross Margin % in the Supplementary Financial Measures section for further information. 3. Please refer to the Backlog - Non-IFRS Financial Measure section for further information. 4. Please refer to the Adjusted Working Capital - Non-IFRS Financial Measure section for further information. Conference Call and WebcastQuarterhill will host a conference call to discuss its financial results on Thursday, May 15, 2025, at 10:00 AM Eastern Time. Webcast Information Live audio webcast will be available at: Webcast replay will be available at: Traditional Dial-in Information To access the call from the U.S. and Canada, dial 1.888.699.1199 (Toll Free) To access the call from other locations, dial 1.416.945.7677 (International) Rapidconnect To instantly join the conference call by phone, please use the following URL to easily register and be connected into the conference call automatically: Telephone ReplayTelephone replay will be available from May 15, 2025, until May 22, 2025, at: 1.888.660.6345 (Toll Free North America) or 1.289.819.1450. Conference ID: 47107 and Replay Passcode: 47107# Non-IFRS Financial Measures and Non-IFRS RatiosQuarterhill uses both IFRS and certain non-IFRS financial measures to assess performance. Non-IFRS financial measures are financial measures disclosed by a company that (a) depict historical or expected future financial performance, financial position or cash flow of a company, (b) with respect to their composition, exclude amounts that are included in, or include amounts that are excluded, from the composition of the most directly comparable financial measure disclosed in the primary financial statements of the company, (c) are not disclosed in the financial statements of the company, and (d) are not a ratio, fraction, percentage or similar representation. Non-IFRS ratios are financial measures disclosed by a company that are in the form of a ratio, fraction, percentage or similar representation that has a non-IFRS financial measure as one or more of its components, and that are not disclosed in the financial statements of the company. These non-IFRS financial measures and non-IFRS ratios are not standardized financial measures under IFRS, and, therefore, are unlikely to be comparable to similar financial measures presented by other companies. Management believes these non-IFRS financial measures and non-IFRS ratios provide transparent and useful supplemental information to help investors evaluate our financial performance, financial condition, and liquidity using the same measures as management. These non-IFRS financial measures and non-IFRS ratios should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with IFRS. Adjusted EBITDA - Non-IFRS Financial Measures We use the non-IFRS financial measure "Adjusted EBITDA" to mean net loss adjusted for (i) income taxes, (ii) finance expense or income; (iii) amortization and impairment of intangibles; (iv) other charges and other one-time items; (v) depreciation of right-of-use assets and property, plant and equipment; (vi) stock-based compensation; (vii) foreign exchange loss (gain); and (viii) other (income) expense and (ix) changes in fair value of derivative liability. Adjusted EBITDA is used by our management to assess our normalized cash generated on a consolidated basis. Adjusted EBITDA is also a performance measure that may be used by investors to analyze the cash generated by Quarterhill. Adjusted EBITDA should not be interpreted as an alternative to net income (loss) and cash flows from operations as determined in accordance with IFRS or as measure of liquidity. The most directly comparable IFRS financial measure is Net income (loss). Adjusted EBITDA per share – Non-IFRS Ratio Adjusted EBITDA per share is calculated as Adjusted EBITDA divided by the basic weighted average of common shares. Adjusted EBITDA per share is used by our management and investors to analyze cash generated by Quarterhill on a per share basis. The most comparable IFRS measure is earnings per share. Adjusted Working Capital – Non-IFRS Financial Measure Adjusted Working Capital is calculated as current assets minus current liabilities, adjusted for convertible debentures and derivative liability. Adjusted Working Capital reflects our net working capital expected to be settled in cash within twelve months. The most comparable IFRS measure is working capital. Backlog - Non-IFRS Financial Measure We use the non-IFRS measure "backlog" to mean the total value of work that has not yet been completed but that in management's experience of similar situations has: (a) a high certainty of being performed pursuant to existing contracts or work orders specifying job scope, value and timing; (b) an expectation of expansion of existing contracts due to expected extensions; and/or (c) been awarded to one or more of our ITS operating subsidiaries as evidenced by a binding contract or where the finalization of a binding contract is reasonably assured. Activities under such contracts may cover a period of up to 15 years. We do not include in "backlog", the value of any expected but unsigned change orders that management considers may apply to such contracts. Supplementary Financial MeasuresSupplementary financial measures are financial measures disclosed by a company that (a) are, or are intended to be, disclosed on a periodic basis to depict the historical or expected future financial performance, financial position or cash flow of a company, (b) are not disclosed in the financial statements of the company, (c) are not non-IFRS financial measures, and (d) are not non-IFRS ratios. Key supplementary measures disclosed are as follows: Gross margin %Calculated as gross profit as a percentage of revenue. About QuarterhillQuarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: Forward-looking InformationThis news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements") regarding Quarterhill, its operating subsidiaries and their respective businesses. Such forward-looking statements relate to future events, conditions or future financial performance of Quarterhill based on future economic conditions and courses of action. All statements other than statements of historical fact may be forward-looking statements. Such forward-looking statements are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", "plan", "goal", and similar expressions. These statements involve known and unknown risks, assumptions, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. In particular, this news release contains forward-looking statements pertaining to, but not limited to, the following: operational and financial expectations for the 2025 financial year, including revenue, gross margin and Adjusted EBITDA expectations; the Company's business plan and strategy; the outcome of renegotiation efforts relating to our tolling contracts; the impact of contract renegotiation on our financial performance; and the results of operational enhancements and technology investment by the Company. Although the forward-looking statements contained in this news release are based upon assumptions which management of the Company believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this news release, the Company has made assumptions regarding, but not limited to: the Company's ability to execute on its business plan; successful integration of acquisitions; general economic and industry trends; operating assumptions relating to the Company's operations; demand for the Company's products and services; cost estimates for fixed price contracts; successful renegotiation of our tolling contracts on terms acceptable and favourable to the Company; and the other assumptions set forth in the Company's most recent annual information form available under the Company's profile on SEDAR+ at The Company's actual results could differ materially from those anticipated in the forward-looking statements, as a result of numerous known and unknown risks and uncertainties and other factors including, but not limited to: changes in demand for the Company's products and services; general economic, political, market and business conditions, including fluctuations in interest rates, foreign exchange rates, stock market volatility; reliance on key management personnel; risks related to competition within the Company's industry and relating to technological advances; litigation risks; cyber-security risks; fixed price contracts may result in unexpected costs to the Company; risks of health epidemics, pandemics and similar outbreaks; the tolling contracts not successfully being renegotiated on terms acceptable or favourable to the Company, or at all; and the other risks set forth in the Company's most recent annual information form and management's discussion and analysis for the three and twelve months ended December 31, 2024 available under the Company's profile on SEDAR+ at The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Readers are therefore cautioned that the foregoing lists of important factors are not exhaustive, and they should not unduly rely on the forward-looking statements included in this news release. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. This news release contains "future-oriented financial information" and "financial outlooks" within the meaning of applicable Canadian securities laws (collectively, "FOFI"), including about the financial results, revenue, gross margin and Adjusted EBITDA of Quarterhill for the year ended December 31, 2025. FOFI, as with forward-looking statements generally, are, without limitation, based on the assumptions and qualifications, and are subject to the risks, set out above in respect of forward-looking statements. Quarterhill's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's financial results may differ materially from the FOFI provided in this news release. The Company and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments and the FOFI contained in this news release was approved by management as of the date hereof, for purposes of providing further information about the Company's future business operations and results. However, because this information is subjective and subject to numerous risks and assumptions, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, the Company undertakes no obligation to update such FOFI. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein, and such information is presented for illustrative purposes only and may not be an indication of the Company's actual financial position or results of operations. Interim Condensed Consolidated Statements of Loss and Comprehensive Loss(in thousands and in United States dollars, except share and per share amounts)Three months ended March 31,2025 2024Revenues $33,889 $34,897 Direct cost of revenues 29,958 28,540 Gross profit 3,931 6,357 Operating expenses Selling, general and administrative expenses 8,031 6,375 Research and development expenses 281 317 Depreciation of right-of-use assets 335 344 Depreciation of property, plant and equipment 369 377 Amortization of intangible assets 1,974 2,237 Other charges 241 83411,231 10,484 Results from operations (7,300) (4,127) Finance income (55) (268) Finance expense 1,493 1,705 Foreign exchange loss (gain) 272 (1,110) Other (income) expense (317) 133 Change in fair value of derivative liability (430) (495) Loss before taxes (8,263) (4,092) Current income tax expense 109 73 Deferred income tax (recovery) expense (2) 53 Income tax expense 107 126 Net loss (8,370) (4,218)Other comprehensive loss that may be reclassified subsequently to net loss: Foreign currency translation adjustment 561 (685) Comprehensive loss ($7,809) ($4,903)Loss per share - Basic ($0.07) ($0.04) Loss per share - Diluted ($0.07) ($0.04) Interim Condensed Consolidated Statements of Financial Position(in thousands and in United States dollars) As at March 31, 2025 December 31, 2024Current assets Cash and cash equivalents $26,123 $31,893 Accounts receivable, net 19,353 20,716 Unbilled revenue 37,676 34,461 Income taxes receivable 206 231.00 Inventories (net of obsolescence) 10,405 10,143 Prepaid expenses and deposits 4,291 4,58898,054 102,032 Non-current assets Accounts and other long-term receivables 4,899 4,781 Right-of-use assets, net 5,113 5,035 Property, plant and equipment, net 3,641 3,961 Intangible assets, net 77,448 78,370 Investment in other entity 3,919 3,919 Deferred compensation asset 988 1,050 Goodwill 31,115 30,960127,123 128,076 TOTAL ASSETS $225,177 $230,108 Liabilities Current liabilities Accounts payable and accrued liabilities $27,100 $25,598 Income taxes payable 265 334 Current portion of lease liabilities 2,132 2,040 Current portion of deferred revenue 6,682 5,708 Current portion of long-term debt 2,125 2,125 Convertible debentures 37,304 36,825 Derivative liability 86 51675,694 73,146 Non-current liabilities Deferred revenue 1,935 1,574 Long-term lease liabilities 4,595 4,803 Long-term debt 14,762 15,273 Deferred compensation liabilities 1,017 1,100 Deferred income tax liabilities 2,606 2,577 Other long-term liabilities 512 51225,427 25,839 TOTAL LIABILITIES 101,121 98,985 Shareholders' equity Capital stock 315,086 314,630 Contributed surplus 127,732 127,446 Accumulated other comprehensive income 12,709 12,148 Deficit (331,471) (323,101)124,056 131,123 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $225,177 $230,108 Interim Condensed Consolidated Statements of Cash Flows(in thousands and in United States dollars) Three months ended March 31, 2025 2024 Operating activities:Net loss($8,370) ($4,218) Add (deduct) non-cash items:Stock-based compensation expense944 504 Depreciation and amortization2,678 2,958 Foreign exchange loss (gain)272 (1,110) Other (income) expense(110) 181 Deferred and non-cash income tax (recovery) expense(2) 53 Embedded derivatives3 39 Change in fair value of derivative liability(430) (495) Non-cash interest expense539 540 Net change in non-cash working capital balances853 (8,566) Cash used in operating activities(3,623) (10,114) Financing activities:Payment of lease liabilities(643) (577) Repayment of long-term debt(531) (531) Cash used in financing activities(1,174) (1,108) Investing activities:Net proceeds from disposition of a joint venture319 - Purchase of property, plant and equipment(59) (201) Capitalized software costs(916) (723) Cash used in investing activities(656) (924) Foreign exchange on cash held in foreign currencies(317) (164) Net decrease in cash and cash equivalents(5,770) (12,310) Cash and cash equivalents, beginning of period31,893 42,733 Cash and cash equivalents, end of period$26,123 $30,423 Interim Condensed Consolidated Statements of Shareholders' Equity(in thousands and in United States dollars)Capital Stock Contributed Surplus AccumulatedOther ComprehensiveIncome Deficit Total Shareholders' Equity Balance, January 1, 2024 $313,738 $126,129 $15,652 ($312,079) $143,440 Net loss - - - (4,218) (4,218) Other comprehensive loss - - (685) - (685) Stock-based compensation expense - 504 - - 504 Common shares issued from restricted stock units 263 (263) - - - Balance, March 31, 2024 $314,001 $126,370 $14,967 ($316,297) $139,041 Balance, January 1, 2025 $314,630 $127,446 $12,148 ($323,101) $131,123 Net loss - - - (8,370) (8,370) Other comprehensive income - - 561 - 561 Stock-based compensation expense - 944 - - 944 Common shares issued from restricted stock units 456 (658) - - (202) Balance, March 31, 2025 $315,086 $127,732 $12,709 ($331,471) $124,056 Reconciliation of Net Loss to Adjusted EBITDA(in thousands and in United States dollars, except share and per share amounts)Three months ended March 31,2025 2024$ Per Share [2] $ Per Share Net loss ($8,370) ($0.07) ($4,218) ($0.04) Adjusted for: Income tax expense 107 0.00 126 0.00 Foreign exchange loss (gain) 272 0.00 (1,110) (0.01) Finance expense, net 1,438 0.01 1,437 0.01 Other charges 241 0.00 834 0.01 Depreciation and amortization 2,678 0.02 2,958 0.03 Stock based compensation expense 944 0.01 504 0.00 Change in fair value of derivative liability (430) (0.00) (495) (0.00) Other (income) expense (317) (0.00) 133 0.00 Adjusted EBITDA [1] ($3,437) ($0.03) $169 $0.00Weighted average number of Common Shares Basic 115,884,922115,025,344 1. Please refer to the Adjusted EBITDA Non-IFRS Financial Measures section for further information. 2. Please refer to the Adjusted EBITDA per share – Non-IFRS Ratio section for further information. View original content: SOURCE Quarterhill Inc. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
01-05-2025
- Business
- Cision Canada
Quarterhill to Announce Q1 2025 Financial Results
TORONTO, May 1, 2025 /CNW/ - Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF) will release its financial results for the three months ended March 31, 2025, on Thursday, May 15, 2025. Chuck Myers, CEO, and Morgan Demkey, Interim CFO, will host a conference call and audio webcast at 10:00 a.m. ET the same day. Webcast Information Traditional Dial-in Information To access the call from the U.S. and Canada, dial 1.888.699.1199 (Toll Free) To access the call from other locations, dial 1.416.945.7677 (International) Rapidconnect To instantly join the conference call by phone, please use the following URL to easily register and be connected into the conference call automatically: Telephone Replay Telephone replay will be available from May 15, 2025, until May 22, 2025, at: 1.888.660.6345 (Toll Free North America) or 1.289.819.1450. Conference ID: 47107 and Replay Passcode: 47107 # About Quarterhill Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information:
Yahoo
14-03-2025
- General
- Yahoo
Assistant Brevard County Manager Denninghoff retires; Calkins gets interim post
Assistant Brevard County Manager for Development and Environmental Services John Denninghoff has retired after 29 years in county government. Denninghoff previously worked as the county's Public Works Department director, Transportation Engineering Department director and construction management director. Among the major projects Denninghoff has facilitated for Brevard County are the replacement of the A. Max Brewer Bridge in Titusville (won the People's Choice Award in a national contest sponsored by the American Association of State Highway and Transportation Officials); the Ellis Road Interstate 95/St. Johns Heritage Parkway interchange; the Port St. John Parkway interchange; the extension of the Pineda Causeway to I-95; construction of the St. Johns Heritage Parkway; the Brevard County Traffic Management Center; the Viera Boulevard/I-95 Interchange; the new Emergency Operations Center in Rockledge; development and implementation of the Intelligent Transportation System; and elimination of the countywide road resurfacing backlog. In a resolution approved by Brevard County commissioners, it was noted that "Brevard County citizens and county leadership were fortunate to have John join public service in 1996, where he has since strived to uphold and require from engineering and professional colleagues the highest of integrity and standards to protect the citizens of Brevard County for the last 29 years. He's provided unwavering support, assistance and an exceptional work ethic to the county manager." The resolution also noted that "John has overseen numerous critical programs, projects, and emergency preparation and response efforts, and rose to become widely known as a rock-solid resource for staff, county leadership and state representatives in virtually any emergency or critical situation." Denninghoff is a lifetime resident of Brevard County and a University of Florida engineering graduate. He obtained his professional engineer license in 1987. Before joining the county staff, Denninghoff worked in private industry development and environmental engineering, achieving vice president and chief design engineer positions over 14 years in his early career. In 2013, Denninghoff was named Urban Engineer of the Year by the Florida Association of County Engineers and Road Superintendents, recognized for criteria in project timeliness, innovation, leadership, impact on budget and impact on the community. He served on the Central Florida Expressway Right-of-Way Committee for Brevard County since 2017, extending application of his professional engineering to regional growth affecting Brevard County and the surrounding regions. The resolution said Denninghoff "leaves behind a legacy of professional achievements benefiting Brevard County and its residents for years to come. He doesn't just solve problems. He anticipates challenges, inspires others, and drives meaningful growth and necessary change." It recognizes his "exceptional service" and "his many years of dedication, exceptional intelligence and innovation to the benefit of Brevard County and its citizens." With Denninghoff's retirement, Tad Calkins was named interim assistant Brevard County manager for development and environmental services. Calkins has over 29 years of public-sector experience, including 19 years with Brevard County. He started with Brevard County in 2005 as the assistant director of Permitting and Enforcement Department. In 2009, he became the assistant director of the Planning and Development Department. He moved into the role of planning and development director in March 2017. During his tenure with the county, he has implemented numerous process improvements which have reduced application approval time frames and increased staff efficiencies by close to 100%. Prior to his employment with Brevard County, he worked for Osceola County just under 10 years. Before that, he worked for Curts Gaines Hall Architects and Planners until 1996. Calkins earned a Bachelor of Science degree in community development and regional planning from Appalachian State University. With Calkins' new position, Billy Prasad was named as the county's interim director of planning and development. Ameriprise recently recognized Leasha Flammio-Watson with its 2024 Client Experience Award. Flammio-Watson is a Suntree-based certified financial adviser. The award goes to select advisers who consistently deliver personalized, goal-based advice and exceptional client service. Award recipients earned an overall client satisfaction rating equal to or greater than 4.9 out of 5.0, and maintained stellar business results. The award represents an elite group of Ameriprise advisers recognized as leaders for their commitment to making a difference in the lives of their clients. Flammio-Watson is a private wealth adviser for Ameriprise. Her office is at 6555 N. Wickham Road, Suite 102. She can be reached by calling 321-622-8371 or by email at One Senior Place, 8085 Spyglass Hill Road in Viera, will present a panel discussion on "Downsizing 101: How to Simplify Your Move" at 1 p.m. March 24. The event will bring business experts together in a downsizing panel to provide seniors with tips and best practices for a move to a smaller home. All aspects of a downsizing move will be discussed by the panel participants. Panelists include Barb Asinari, senior real estate specialist from Oceans Realty; Dan Mocerino, owner of Tropic Moving; Cindy Theilacker, owner of A to Z Estate Sale Liquidators; Josh and Sara McCoy, personal IT consultants, Black Hole Makers; and Daniel Beetar, professional organizer from Got to Bee Clean: Your Home Concierge. One Senior Place Assistant Director Chassity Inglis will facilitate the audience question-and-answer period. Downsizing 101 includes a light lunch. "Moving is a big task at any age," said Angie Higgins, director of One Senior Place. "Many seniors have a lifetime of treasures in their homes, and are unsure how to start the downsizing process — even when the time is right. This expert panel will answer questions and lay out the steps for seniors who want to transition to the next chapter in their lives." To RSVP, go to or call 321-751-6771. To learn more about One Senior Place, go to Kacie Moia recently was promoted to senior project manager at MEC General Contractors. She joined the company in June 2022 as a project manager. MEC General Contractors is a full-service commercial construction company headquartered in Suntree. It has offices in Orlando and in Grapevine, Texas. Prior to joining MEC, Moia was a project manager and construction estimator with Don Facciobene Inc. Before that, she was a project manager and estimator for Lowman Brothers Construction. She also had worked as a purchasing manager for Stanley Homes. If you have a Business Newsmakers item you'd like to publish, please email details to Wayne T. Price at wtpkansas@ or contact him at 321-223-0230. This article originally appeared on Florida Today: Assistant Brevard Manager Denninghoff retires after 29 years with county
