The following is a summary of the Quarterhill Inc. (QTRHF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Quarterhill Inc. reported an upsurge in Q4 revenue by 46% to $58.5 million and an annual increase of 22% to $194.3 million.

• The company's adjusted EBITDA saw an improvement in Q4 to $3.2 million, and annually to $3.8 million.

• Revenue backlog escalated to over $520 million by the end of the year, promising future revenue generation.

• The company experienced a decline in the Gross margin percentage in Q4 and annually, attributed to tolling implementation expense overruns.

• SG&A expenses were $9.2 million in Q4, more manageable than the $11.9 million in Q4 of 2022. SG&A as a percentage of revenue for Q4 also noted a significant improvement to 16%.

• Quarterhill Inc. held cash and cash equivalents of $56.6 million as of December 2023.

• Cash used in continuing operations in Q4 was reported as $1.6 million.

Business Progress:

• Major changes took place in the Quarterhill Inc. leadership team, with new appointments and sale of WiLAN, thus simplifying its business model.

• Considerable progress was noted in terms of business integration as they aim to streamline under the 'Quarterhill' name, with ongoing efforts to identify and exit non-performing businesses.

• Quarterhill Inc. expanded its enforcement business, closing businesses in two states in 2023 adhering to a $5.3 million contract in Tennessee.

• The company's focus for 2024 centers around growing its Intelligent Transportation Systems (ITS), specifically their tolling and enforcement units.

• Anchoring its future plans around tolling opportunities in Europe, and expanding software application capabilities via a focused R&D strategy. They aim for penetration into transportation ITS base verticals, principally logistics.

• Company's acquisition of Red Fox is envisioned to generate approximately $1.4 million of adjusted EBITDA in 2024.

• Lastly, Quarterhill Inc. indicates a transition to US dollar reporting with Q1 2024 results as it aligns with the majority of its revenue channels. This paired with a prospective listing on a senior U.S. exchange.

More details: QUARTERHILL INC IR

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