Q3 2024 Quarterhill Inc Earnings Call Transcript
Key Points
- Quarterhill Inc (QTRHF) reported a 12% increase in Q3 revenue, reaching $38 million compared to the previous year.
- The company has a substantial revenue backlog of $475 million, providing good visibility into future revenue streams.
- Quarterhill Inc (QTRHF) successfully expanded its global footprint with new contracts in Thailand, South Korea, and several U.S. states.
- The company is focusing on enhancing its technical capabilities and has added key hires to strengthen its project bid and development teams.
- Quarterhill Inc (QTRHF) expects to return to positive adjusted EBITDA in Q4 2024 and aims for revenue growth and margin expansion into 2025.
- Quarterhill Inc (QTRHF) reported a negative adjusted EBITDA of $2.8 million for Q3 2024, impacted by reserves taken for two tolling projects.
- The company's gross margin percentage decreased to 13% in Q3 2024 from 23% in the same period last year.
- There were cost overruns on two tolling projects, resulting in a $4 million reserve impacting revenue and margins.
- Quarterhill Inc (QTRHF) experienced a decline in cash and cash equivalents, ending Q3 with $23.1 million compared to $42.7 million at the end of 2023.
- The company is undergoing strategic right-sizing and restructuring, which may involve further workforce reductions to optimize operations.
Good morning and welcome to Quarterhill Q3 2024 financial results conference call on this morning's call. We have Charles Myers CEO and Kyle Crist, Chief Financial Officer.
At this time. All participants are in a listen-only mode following management's presentation. (Operator Instruction). Earlier this morning, Quarterhill issued a news release announcing its financial results for the three and nine months ended. September 30 2024.
This news release along with the company's MDNA and financial statements are available on Quarterhill's website and on Cedar Plus certain matters discussed during today's conference call or answers that may be given to questions could institute 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 Cedar Plus during this conference call, Quarterhill, we're referred to adjusted EBITA adjusted EBITDA does not have any standardized meaning prescribed by IFRS.
Please refer
| 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
