Quarterhill Inc. (TSE:QTRH) has released an update.
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Quarterhill Inc. reports a robust start to 2024 with a 23% increase in Q1 revenue, reaching $34.9 million, and a shift to a positive Adjusted EBITDA of $0.2 million, marking a notable improvement from the previous year’s loss. The company also highlights the acquisition of Red Fox I.D. and a significant $500 million revenue backlog, alongside operational enhancements aimed at driving efficiency and growth. Quarterhill’s strategic moves, including workforce adjustments, are set to save millions annually, promising a leaner structure and stronger cash flow.
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