Q2 2024 Quarterhill Inc Earnings Call Transcript
Key Points
- Revenue increased by 7.5% year-over-year to $41.5 million.
- Positive cash from operations of $802,000, a significant improvement from the previous year's negative cash flow.
- Substantial revenue backlog of $500 million, providing good visibility for future revenue.
- Successful acquisition and integration of Red Fox, enhancing the company's tolling and enforcement capabilities.
- Continued strong performance from the enforcement unit, with new agreements in multiple states and international deals.
- Adjusted EBITDA decreased to $1.7 million from $2.9 million in the previous year.
- Gross margin percentage declined to 21% from 26% year-over-year.
- Cash and cash equivalents decreased to $24 million from $42.7 million at the end of 2023.
- Operating expenses slightly increased to $10.8 million from $10.6 million in the previous year.
- One tolling project experienced a transitory period of lower-than-expected margins.
Good morning, and welcome to Quarterhill's Q2 2024 Financial Results Conference Call. On this morning's call, we have Chuck Myers, CEO; and Kyle Chriest, Chief Financial Officer. (Operator Instructions)
Earlier this morning, Quarterhill issued a news release announcing its financial results for the three and six months ended June 30, 2024 This news release, along with the company's MD&A and financial statements are available on Quarterhill's website and SEDAR+.
Certain matters discussed during today's conference call are answers that may be given to questions could constitute forward-looking statements. Actual results could differ materially from those anticipated. Risk factors that could affect results are detailed in the company's annual information form and other public filings that are available on SEDAR+.
During this conference call, Quarterhill will refer to adjusted EBITDA. Adjusted EBITDA does not have any standardized meaning prescribed by IFRS. Please refer to the company's Q2 2024 MD&A for full cautionary notes regarding the use of forward-looking statements
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
