Latest news with #QuarterhillInc
Cision Canada
13-08-2025
- Business
- Cision Canada
Quarterhill Announces Q2 2025 Financial Results
TORONTO, Aug. 13, 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 and six months ended June 30, 2025. All financial information in this press release is reported in United States ("US") dollars, unless otherwise indicated. Q2 2025 Highlights Revenue for Q2 2025 was $43.1 million compared to $41.5 million in Q2 2024. Net loss for Q2 2025 was ($6.8) million compared to ($3.0) million in Q2 2024. Cash used in operations for Q2 2025 was ($4.6) million compared to cash generated from operations of $0.8 million Q2 2024. Cash and cash equivalents were $22.7 million at June 30, 2025. Adjusted EBITDA 1 for Q2 2025 was ($2.7) million compared to $1.7 million in Q2 2024. Revenue backlog 3 was $463 million at June 30, 2025. Appointed David Charron as Chief Financial Officer. Appointed Darren Learmonth as Chief Technology Officer, subsequent to quarter end. On July 24, 2025, announced a restructuring that is expected to result in annualized savings of approximately $12 million. "Q2 revenue of $43.1 million grew 4% year-over-year, driven by continued strong performance from our safety and enforcement unit, which delivered solid growth and margins," said Chuck Myers, CEO at Quarterhill. Mr. Myers added: "We are taking decisive action through a four-point plan to strengthen the business. One, our restructuring announced on July 24 th will generate approximately $12 million in annualized savings starting in Q3 2025. Two, we've made meaningful progress on one of the tolling contracts previously disclosed as under renegotiation, reducing costs related to the project and agreeing to enter a mediation process that's expected to begin by the end of the month. Three, we continue to win and pursue higher-margin business while four, we're investing in our next-generation technology platform. These targeted actions are designed to achieve sustainable operating profitability and enhance our financial performance." "While our turnaround continues, we're making tangible progress and building a stronger, more resilient business," Mr. Myers concluded. "With new leadership in place at the board and management level, we're optimistic that executing our plan will drive top-line growth, margin expansion, positive cash flow and shareholder value creation." Q2 2025 and Year-to-Date Financial Review Quarterhill's Management's Discussion and Analysis and Financial Statements for the three and six months ended June 30, 2025 are available at the Company's website and at its profile at SEDAR +. Revenues for the three and six months ended June 30, 2025, were $43.1 million and $77.0 million compared to $41.5 million and $76.4 million in the same periods last year. The increase in revenue for Q2 and the year-to-date period is primarily due to growth in the Company's safety and enforcement business unit, offset, in part, by the timing of revenues received from certain tolling contracts. For the three and six months ended June 30, 2025, the two tolling contracts that are being renegotiated contributed $2.8 million and $6.5 million to revenue. 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 and six months ended June 30, 2025, was $6.3 million and $10.3 million, or 15% and 13%, as compared to $8.5 million and $14.9 million, or 21% and 19%, in the same periods last year. The decrease for Q2 and the year-to-date period was primarily due to cost overruns on two tolling projects, and offset, in part, by continued strong margin performance from the safety and enforcement unit. 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 and six months ended June 30, 2025, were $12.9 million and $24.1 million compared to $10.8 million and $21.2 million in the same periods last year. The increase for Q2 and the year-to-date period is primarily due to recruitment, technical consulting and facilities expenses, which were offset, in part, by a decrease in amortization expense and other charges. Adjusted EBITDA 1 for the three and six months ended June 30, 2025, was ($2.7) million and ($6.1) million compared to $1.7 million and $1.8 million in the same periods last year. The decrease in Adjusted EBITDA 1 for Q2 and the year-to-date period was due to the factors impacting gross margin and expenses, as previously described. The two tolling contracts that are being renegotiated resulted in a reduction to Adjusted EBITDA 1 of ($3.9) million in Q2 and ($7.1) million in the year-to-date period. Net loss for the three and six months ended June 30, 2025, was ($6.8) million and ($15.2) million, or ($0.06) and ($0.13) per diluted share, compared to net losses of ($3.0) million and ($7.2) million, or ($0.03) and ($0.06) per diluted share, in the same periods last year. Cash used in operations for the three and six months ended June 30, 2025, was ($4.6) million and ($8.2) million compared to $0.8 million and ($9.3) million in the same periods last year. Cash and cash equivalents were $22.7 million at June 30, 2025, compared to $31.9 million at December 31, 2024. At quarter end, Quarterhill's long-term debt was reclassified to current liabilities as the Company was not in compliance with its financial covenants at June 30, 2025. Subsequent to quarter end, the Company finalized an amendment to its credit agreement that provides it with additional financial flexibility and a waiver to its covenants to September 30, 2025. More details can be found in the Company's Q2 2025 MD&A. Conference Call and Webcast Quarterhill will host a conference call to discuss its financial results on Wednesday, August 13, 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 August 13, 2025, until August 20, 2025, at: 1.888.660.6345 (Toll Free North America) or 1.289.819.1450. Conference ID: 30578 and Replay Passcode: 30578 # 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); (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). See Reconciliation of Net Loss to Adjusted EBITDA below. 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. See Reconciliation of Net Loss to Adjusted EBITDA below. 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, and outcomes thereof; the outcome of renegotiation efforts and mediation relating to our tolling contracts; the impact of contract renegotiation on our financial performance; the results of operational enhancements and technology investment by the Company; the anticipated cost savings from the restructuring; the Company's ability and path to achieve revenue growth, margin expansion and positive cash flow; and the impact of the Company's workforce reduction on the Company's operations, financial position and results. 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) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Operating activities: Net loss ($6,835) ($2,967) ($15,205) ($7,185) Add (deduct) non-cash items: Stock-based compensation expense 1,153 708 2,097 1,212 Depreciation and amortization 2,628 2,887 5,306 5,845 Foreign exchange loss (gain) 2,748 (387) 3,020 (1,497) Other income (3,292) (315) (3,402) (134) Deferred and non-cash income tax (recovery) expense (537) (17) (539) 36 Embedded derivatives (48) (33) (45) 6 Change in fair value of derivative liability (60) (432) (490) (927) Non-cash interest expense 560 552 1,099 1,092 Net change in non-cash working capital balances (881) 806 (28) (7,760) Cash used in (generated from) operating activities (4,564) 802 (8,187) (9,312) Financing activities: Payment of lease liabilities (668) (561) (1,311) (1,138) Repayment of long-term debt - (531) (531) (1,062) Cash used in financing activities (668) (1,092) (1,842) (2,200) Investing activities: Net proceeds from disposition of a joint venture - - 319 - Purchase of property, plant and equipment (310) (344) (369) (545) Capitalized software costs (1,231) (651) (2,147) (1,373) Cash generated from (used in) investing activities 1,688 (5,870) 1,032 (6,793) Foreign exchange on cash held in foreign currencies 79 (221) (238) (386) Net decrease in cash and cash equivalents (3,465) (6,381) (9,235) (18,691) Cash and cash equivalents, beginning of period 26,123 30,423 31,893 42,733 Cash and cash equivalents, end of period $22,658 $24,042 $22,658 $24,042 Interim Condensed Consolidated Statements of Shareholders' Equity (in thousands and in United States dollars) Reconciliation of Net Loss to Adjusted EBITDA (in thousands and in United States dollars, except share and per share amounts) 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. SOURCE Quarterhill Inc.
Cision Canada
05-08-2025
- Automotive
- Cision Canada
Quarterhill Delivers Weigh-In-Motion Solutions to Improve Roadway Safety and Efficiency in Djibouti, South Korea, and Thailand
Expansion into Djibouti adds to Quarterhill's growing portfolio in East Africa, demonstrating the Company's ability to address diverse transportation needs in the region. Repeat orders from Thailand and South Korea reinforce proven reliability of Quarterhill's weigh-in-motion systems. TORONTO, Aug. 5, 2025 /CNW/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading global provider of intelligent transportation system ("ITS") solutions, today announced new international contracts in Djibouti, Thailand, and South Korea, marking its first deployment in Djibouti and expanding the Company's footprint in East Africa. Quarterhill's Djibouti deployment introduces a comprehensive overweight enforcement solution combining high-speed and slow-speed weigh-in-motion ("WIM") technologies. The system features two high-speed WIM lanes with bending plate sensors for initial vehicle screening, plus six slow-speed lanes for verifying suspected overweight vehicles. The enforcement infrastructure includes iSINC-based electronics, integrated license plate readers, and barrier gates, all managed through a centralized control room. Quarterhill's weigh station software has been customized for this project with French language support and enhanced citation tracking across multiple workstations. This multi-tiered approach ensures efficient traffic flow while maintaining accurate weight regulation enforcement. The project is part of a World Bank-funded infrastructure upgrade, with Quarterhill subcontracted through Danway Emirates LLC and HAWK International & Construction Djibouti, SARL leading the initiative. Quarterhill's continued success in established markets is reflected in repeat orders from Thailand and South Korea, where transportation agencies have expanded their deployments of the Company's Single Load Cell and Bending Plate WIM systems. These follow-on contracts validate the proven performance of Quarterhill's technology in high-traffic environments. The systems deliver exceptional accuracy through full tire footprint contact and are engineered for long-term durability under heavy traffic conditions. Their temperature stability and consistent performance make them particularly well-suited for both high-speed monitoring and enforcement pre-screening applications across diverse operating environments. "These recent achievements in Djibouti, South Korea, and Thailand highlight the growing demand for our innovative weigh-in-motion technologies in diverse markets around the world," said Chuck Myers, Chief Executive Officer of Quarterhill. "We are proud to partner with governments and agencies that share our commitment to improving roadway safety and efficiency. By offering highly reliable and customizable solutions, Quarterhill continues to deliver meaningful value to transportation networks globally." 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"). 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", "expect" and similar expressions. Specifically, this news release contains forward-looking statements relating to, but not limited to: anticipated improvement to roadway safety and efficiency in Djibouti, South Korea and Thailand; the Company's continued success and product validation in established markets; growing demand for the Company's products. Forward-looking 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. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; force majeure risks; risks associated with operations in foreign countries, including but not limited to changes in government policies, political or economic instability, currency fluctuations, difficulties in enforcing contracts and intellectual property rights, differing regulatory and legal requirements, and potential difficulties in repatriating funds; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at The Company believes the expectations reflected in the 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. Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. The foregoing lists are not exhaustive. Additional information on these and other factors which could affect the Company's operations or financial results are included in the Company's most recent annual information form and other public documents on file with the Canadian Securities regulatory authorities on The forward-looking statements represent the Company's views as at the date of this news release. There can be no assurance that forward-looking statements will prove to be accurate, as actual events and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on any forward-looking statement. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
Cision Canada
30-07-2025
- Business
- Cision Canada
Quarterhill to Announce Q2 2025 Financial Results
TORONTO, July 30, 2025 /CNW/ - Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF) will release its financial results for the three and six months ended June 30, 2025, on Wednesday, August 13, 2025. Chuck Myers, CEO, and David Charron, 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 August 13, 2025, until August 20, 2025, at: 1.888.660.6345 (Toll Free North America) or 1.289.819.1450. Conference ID: 30578 and Replay Passcode: 30578 # 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: SOURCE Quarterhill Inc.
Cision Canada
24-07-2025
- Business
- Cision Canada
Quarterhill Streamlines Operations to Reduce Costs and Align with Strategic Priorities
TORONTO, July 24, 2025 /CNW/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), today announced a workforce reduction of approximately 100 positions, representing approximately 15% of total headcount. This strategic initiative is intended to reduce costs, accelerate the path toward sustainable positive Adjusted EBITDA and operating cash flow, and better align resources with our long-term strategic priorities and those of our customers. The reduction, affecting both contract and full-time roles in roughly equal measure, is expected to generate annualized cost savings of approximately US$12 million. The reduction is primarily focused on operational areas that affect cost of sales, with a partial benefit to be realized in 2025 and the full benefit expected in 2026. "While it is always difficult to part with good people, these changes are necessary to ensure we remain focused and well-positioned for long-term growth," said Chuck Myers, CEO at Quarterhill. "This is one of several decisive steps we are taking to strengthen our financial foundation, and represents a critical milestone in our objective to achieve positive Adjusted EBITDA margins and operating cash flow. At the same time, as we progress through this transition period, we will be better positioned to serve our customers with the highest standard of service." About Quarterhill Quarterhill is a leading provider of tolling, safety and enforcement, and logistics solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our 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"). 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", "expect" and similar expressions. Specifically, this news release contains forward-looking statements relating to, but not limited to: the anticipated cost savings from the workforce reduction; the Company's ability and path to achieve sustainable positive Adjusted EBITDA; and the impact of the workforce reduction on the Company's operations, financial position and results. Forward-looking 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. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; force majeure risks; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at The Company believes the expectations reflected in the 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. Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. These foregoing lists are not exhaustive. Additional information on these and other factors which could affect the Company's operations or financial results are included in the Company's most recent annual information form and other public documents on file with the Canadian Securities regulatory authorities on The forward-looking statements represent the Company's views as at the date of this news release. There can be no assurance that forward-looking statements will prove to be accurate, as actual events and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on any forward-looking statement. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
Yahoo
12-05-2025
- Business
- Yahoo
Quarterhill Announces Results from its Annual and Special Meeting of Shareholders
TORONTO, May 12, 2025 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), announces results from its Annual General and Special Meeting of shareholders (the "Meeting") that was held on Monday, May 12, 2025, at 10:00 a.m. (Eastern Daylight Time). A replay of the Meeting can be viewed at the Investors section of Quarterhill's website. At the Meeting, Quarterhill shareholders (present in person or by proxy) voted on the following, full details of which are set out in Quarterhill's April 1, 2025, Notice of Meeting and Management Information Circular issued in connection with the Meeting: 1. The election of the following nominees to Quarterhill's Board of Directors, which was approved by shareholders as follows:Votes For %Votes For Votes Against %Votes Against Asha Daniere 39,758,117 92.39 3,276,120 7.61 Pasquale T. (Pat) Deon 39,780,944 92.44 3,253,293 7.56 Rusty Lewis 39,260,654 91.23 3,773,583 8.77 Chuck Myers 39,958,589 92.85 3,075,648 7.15 Robin Saunders 39,765,256 92.40 3,268,981 7.60 Stephen A. Smith 39,727,221 92.32 3,307,016 7.68 2. Ordinary resolution appointing Ernst & Young Canada LLP as Quarterhill's auditors to hold office until the next annual meeting of Quarterhill's shareholders and authorizing the Company's Board of Directors to fix their remuneration, which was approved by shareholders as follows: Votes For % Votes For Votes Withheld % Votes Withheld 42,498,306 94.12 2,652,627 5.88 3. Ordinary resolution to approve, adopt and ratify an amendment to the Company's 2018 Equity Incentive Plan (the "Equity Plan"), which was approved by shareholders as follows: Votes For % Votes For Votes Against % Votes Against 31,074,583 72.21 11,959,654 27.79 About Quarterhill Quarterhill is a leading provider of tolling, safety and enforcement, and logistics solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our 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: View original content: SOURCE Quarterhill Inc. 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
