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Quarterhill (QTRH) investor relations material
Quarterhill Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 marked a significant turnaround with revenue growth, positive adjusted EBITDA of $1.4 million, and $6.4 million in positive cash from operations.
Cash balance increased to $24.1 million while debt was reduced, and a four-point plan to strengthen the business was executed.
Major restructuring and contract renegotiations eliminated significant operating losses and positioned the company for profitable growth.
Safety & Enforcement unit delivered gross margins above 40%, while Tolling business benefited from restructuring and improved contract terms.
Financial highlights
Q3 2025 revenue was $39.7 million, up 4.5% year-over-year; year-to-date revenue reached $116.7 million, up 2%.
Gross margin for Q3 2025 improved to 26% from 13% in Q3 2024; gross profit was $10.5 million versus $5.1 million year-over-year.
Adjusted EBITDA for Q3 2025 was $1.4 million, compared to negative $2.8 million in Q3 2024 and negative $2.7 million in Q2 2025.
Cash from operations was $6.4 million, compared to cash used of $1.7 million in Q3 last year.
Backlog stood at $427 million at quarter-end, providing strong revenue visibility.
Outlook and guidance
Focus is shifting to growth and margin expansion, with priorities on top-line growth, margin improvement, and positive cash generation.
Margin profile expected to continue improving, though with potential quarter-to-quarter variability.
Next-generation technology platform rollout expected to begin in Q4, with future revenue and margin benefits anticipated.
Restructuring announced in July is expected to yield annualized savings of $12 million.
Quantify the run-rate margin impact of Q3 actions
How does new tech platform differentiate Quarterhill?
What are the expectations for debt refinancing terms?
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Next Quarterhill earnings date
Q4 202518 Mar, 2026
Next Quarterhill earnings date
Q4 202518 Mar, 2026
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Frequently asked questions
Quarterhill Inc. is a diversified investment holding company that operates in the technology sector. It focuses on acquiring and managing companies with expertise in intellectual property licensing and intelligent transportation systems. Through its subsidiaries, Quarterhill provides solutions for connected transportation infrastructure, including traffic management systems and tolling services. The company’s intellectual property licensing business seeks to monetize patent portfolios across various industries, including technology and telecommunications. The company is headquartered in Toronto, Canada, and its shares are listed on the TSX.
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