Quarterhill Inc. reports developments tied to intelligent transportation system solutions for public transportation agencies. Its updates commonly cover Weigh-in-Motion and Virtual Weigh-in-Motion deployments, traffic monitoring systems, commercial vehicle screening, automated enforcement, tolling technologies, AI-enabled sensing, and data platforms used for roadway safety, freight mobility, infrastructure protection, and transportation planning.
Quarterhill news also includes contract awards and agency partnerships across North America, including work supported by its International Road Dynamics subsidiary, as well as product demonstrations and financial results. Recurring disclosures emphasize software and recurring-revenue expansion, safety and enforcement activity, backlog and project execution, and the company’s positioning as a technology provider in the ITS market.
International Road Dynamics (IRD), a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), has been awarded a contract worth up to $1.8 million by the Nebraska State Patrol for upgrades to the Nebraska City weigh station preclearance system. This includes the installation of advanced e-screening technology, enhancing road safety and operational efficiency. The project follows similar upgrades in Waverly and North Platte and is expected to improve enforcement capabilities against unsafe commercial vehicle conditions, particularly through the Tire Anomaly and Classification System (TACS).
International Road Dynamics Inc. (IRD), a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), has launched an AI-powered CVSA decal reader system aimed at improving the efficiency of commercial vehicle inspections. This new technology enhances read rates for CVSA decals and allows for automatic pre-screening of vehicles at highway speeds, ensuring prioritized checks for those with expired decals. Developed in collaboration with the University of Saskatchewan, this system could significantly bolster road safety and streamline freight transportation across North America.
Wi-LAN Inc., a subsidiary of Quarterhill (TSX: QTRH, OTCQX: QTRHF), announced a new licensing agreement with a prominent provider of security video solutions. This agreement pertains to multiple security video technologies. The specific financial terms of the agreement remain confidential. Wi-LAN is recognized as a leading patent monetization firm and operates across various markets, including automotive and medical technologies.
Quarterhill Inc. announces that CEO Paul Hill and CFO John Rim will present at the Sidoti & Company Virtual Conference on June 24, 2021, at 9:15 a.m. EDT. Interested parties can register for the live presentation using the provided link. A replay will be available on Quarterhill's website for 90 days after the event. Quarterhill specializes in Intelligent Transportation Systems and Intellectual Property licensing, striving for growth and leadership in these sectors. The company's stock trades under the symbols QTRH on the TSX and QTRHF on the OTCQX.
Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF) reported Q1 2021 financial results, showing consolidated revenue of $19.3 million, a decrease from $21.6 million in Q1 2020. Adjusted EBITDA was ($0.4) million, down from $0.2 million year-over-year. Despite the challenges of COVID-19, both IRD and WiLAN generated positive Adjusted EBITDA of $1.4 million and $1.2 million, respectively. The company held $132.0 million in cash and equivalents. Notably, the board declared a quarterly dividend of $0.0125 per common share. The company is actively pursuing M&A, having acquired Sensor Line and VDS GmbH.
Quarterhill has acquired VDS Verkehrstechnik GmbH, a German provider of Intelligent Transportation Systems, for approximately $2.8 million. This acquisition will enhance International Road Dynamics' (IRD) capabilities in traffic monitoring and enforcement, particularly with their radar-based devices that are compliant with new regulations in Germany. Expected synergies could generate about $5.0 million in revenue and $600,000 in Adjusted EBITDA annually. The integration with Sensor Line GmbH aims to leverage a 20-year partnership for further technology development.
Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) will announce its financial results for Q1 2021 on May 6, 2021. The results will cover the three-month period ending March 31, 2021. A conference call featuring President and CEO Paul Hill and CFO John Rim will take place at 10:00 a.m. EST the same day. Interested parties can access the call via a live audio webcast and find accompanying presentation slides on the company's investor relations website.
Quarterhill announced the election of all management nominees as directors at its April 14, 2021, annual meeting. Roxanne Anderson received 93.05% support, while Dr. Michel Tewfik Fattouche led with 97.42%. The meeting also confirmed Ernst & Young LLP as auditors, gaining 97.52% approval, and endorsed the 2018 Equity Incentive Plan with 85.78% support. Quarterhill focuses on the Intelligent Transportation System industry and intellectual property licensing, aiming to become a global leader.
Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) announces its Annual General Meeting (AGM) set for April 14, 2021, at 9:30 a.m. EDT. Shareholders can vote prior to the meeting via online, phone, or by mail. Voting instructions and details are available in the Management Information Circular sent on March 18, 2021. Shareholders can listen to the AGM via an audio webcast. Questions can be submitted in advance to ir@quarterhill.com. For assistance, shareholders can contact Kingsdale Advisors.
International Road Dynamics (IRD) has partnered with the National Research Council (NRC) and University of Manitoba (UM) to establish a transportation data vault aimed at enhancing highway infrastructure in Canada's prairie and northern regions. This initiative seeks to improve decision-making related to infrastructure development and emergency response through advanced data analytics and AI. Over five years, a mobile traffic and weather monitoring system will collect data, addressing challenges posed by the region's sparse and seasonal road network. NRC's AI-driven analysis will help mitigate risks such as flooding and extreme weather impacts.