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Quarterhill Announces $5.2 Million Contract with Existing Tolling Customer

Quarterhill Announces $5.2 Million Contract with Existing Tolling Customer
November 19, 2025
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Company to Deploy its Next Generation Lane-Based Tolling System on a Major Express Lane Corridor

Machine Learning, Cloud, and Dynamic Pricing Capabilities Deliver Superior Travel and Future-Ready Scalability

TORONTO, Nov. 19, 2025 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading global provider of intelligent transportation system ("ITS") solutions, today announced a $5.2 million contract to deploy its Next Generation Toll Lane System on a major U.S. express lane corridor. The contract, with an existing tolling customer, underscores Quarterhill's capabilities to modernize roadway technology, implement dynamic pricing, and seamlessly automate tolling operations for major transportation agencies.

The new system introduces real-time traffic condition monitoring, advanced video technology, machine learning-driven tolling automation, and dynamic pricing capabilities designed to improve traffic flow, optimize lane use, and enhance driver experience. Building upon the foundation of an existing system by Quarterhill, this upgrade involves seven toll zones, delivering greater flexibility and accuracy in toll collection while leveraging an already-operational cloud-based toll host for future scalability.

"This project represents the future of intelligent mobility," said Quarterhill CEO Chuck Myers. "By combining machine learning-powered vehicle detection, real-time data, and cloud technology, we're helping agencies deliver safer, faster, and more reliable travel for every driver while creating a smarter, more adaptable tolling system for the state."

Key enhancements of the Next Generation Toll Lane System include:

  • Machine Learning & Automation – Machine learning and advanced sensors for highly accurate automated vehicle detection, classification and trip building.
  • Cloud Migration – Modern, secure back-office infrastructure enabling scalable operations and simplified maintenance.
  • Dynamic Pricing – Express lane tolls that automatically adjust based on live traffic conditions to maintain free-flow speeds.
  • Upgraded Readers & Cameras – High-definition imaging and sensor technology for precise, real-time monitoring.

This initiative reinforces Quarterhill's commitment to helping agencies modernize tolling infrastructure, reduce congestion, and improve roadway safety. The initiative strengthens the Company's longstanding partnerships and demonstrates how its technology can enhance mobility across diverse transportation networks to benefit travelers.

For more information, please visit Quarterhill.com.

About Quarterhill
Quarterhill is a global leader in the Intelligent Transportation System (ITS) industry, advancing mobility through smart infrastructure solutions that reduce congestion, improve roadway safety, and create more sustainable travel. Each year, Quarterhill's platforms process billions of transactions, perform compliance and safety inspections on millions of commercial vehicles, and enable transportation agencies worldwide to optimize thousands of lanes of traffic to improve travel for everyone. Leveraging advanced artificial intelligence and machine learning technologies, Quarterhill's platform delivers automation and predictive insight to help agencies manage transportation networks more efficiently. By working in close partnership with governments, communities, and industry leaders, Quarterhill is building today's connected roadways while shaping the next generation of intelligent, resilient mobility. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, please visit: www.quarterhill.com

Forward-looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements relate to future events, conditions or future financial performance of ‎Quarterhill based on future economic conditions and courses of action. All statements other ‎than statements of historical fact may be forward-looking statements. Such forward-looking statements ‎are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", ‎‎"plan", "goal", "expect" and similar expressions.

Forward-looking statements involve known and unknown risks, assumptions, ‎uncertainties and other factors that may cause actual results or events to differ materially from those ‎anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in ‎the forward-looking statements are reasonable, but no assurance can be given that these expectations ‎will prove to be correct and such forward-looking statements included in this news release should not be ‎unduly relied upon.‎ Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View original content:https://www.prnewswire.com/news-releases/quarterhill-announces-5-2-million-contract-with-existing-tolling-customer-302619337.html

SOURCE Quarterhill Inc.

Quarterhill Announces Participation in Upcoming Investor Conferences

Quarterhill Announces Participation in Upcoming Investor Conferences
November 17, 2025
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TORONTO, Nov. 17, 2025 /PRNewswire/ - Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF), a leading global provider of intelligent transportation system ("ITS") solutions, announces that Chuck Myers, CEO, and David Charron, CFO, will participate in two upcoming investor conferences.

  • 14th Annual ROTH Technology Conference, Hard Rock Hotel, New York, New York – November 19, 2025.
  • 17th Annual TD Cowen Technology Conference, TD Tower, Toronto, Ontario – November 24-25, 2025.

Please contact your ROTH or TD Cowen sales representative to book a meeting with Mr. Myers and Mr. Charron.

About Quarterhill
Quarterhill is a global leader in the Intelligent Transportation System (ITS) industry, advancing mobility through smart infrastructure solutions that reduce congestion, improve roadway safety, and create more sustainable travel. Each year, Quarterhill's platforms process billions of transactions, perform compliance and safety inspections on millions of commercial vehicles, and enable transportation agencies worldwide to optimize thousands of lanes of traffic to improve travel for everyone. Leveraging advanced artificial intelligence and machine learning technologies, Quarterhill's platform delivers automation and predictive insight to help agencies manage transportation networks more efficiently. By working in close partnership with governments, communities, and industry leaders, Quarterhill is building today's connected roadways while shaping the next generation of intelligent, resilient mobility. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, please visit: www.quarterhill.com

View original content:https://www.prnewswire.com/news-releases/quarterhill-announces-participation-in-upcoming-investor-conferences-302616620.html

SOURCE Quarterhill Inc.

Quarterhill Announces Q3 2025 Financial Results

Quarterhill Announces Q3 2025 Financial Results
November 6, 2025
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Gross Margin Expansion and Positive Adjusted EBITDA Highlight Q3 Progress

Quarterhill Demonstrates Strong Improvement in Profitability and Operational Execution

TORONTO, Nov. 6, 2025 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System ("ITS") industry, announces its financial results for the three and nine months ended September 30, 2025. All financial information in this press release is reported in United States ("US") dollars, unless otherwise indicated.

Quarterhill delivered another quarter of significant progress in its turnaround strategy, achieving substantial gross margin expansion, positive Adjusted EBITDA and positive operating cash flow. The Company also continued to strengthen its balance sheet while advancing its multi-year plan to drive sustained profitability and margin growth across its business units.

Q3 2025 Highlights

  • Revenue for Q3 2025 was $39.7 million, up from $38.0 million in Q3 2024.
  • Gross margin1 percentage for Q3 2025 improved to 26%, compared to 13% in Q3 2024.
  • Cash generated from operations for Q3 2025 was $6.4 million, up significantly compared to cash used in operations of $1.7 million in Q3 2024.
  • Cash and cash equivalents were $24.1 million at September 30, 2025.
  • Adjusted EBITDA2 for Q3 2025 was $1.4 million, an improvement compared to ($2.8) million in Q3 2024, marking the Company's first positive Adjusted EBITDA quarter since Q4 2024.
  • Revenue backlog3 was $427 million at September 30, 2025.
  • Restructuring announced in July expected to yield annualized savings of approximately $12 million.

"Q3 marks an important inflection point for Quarterhill," said Chuck Myers, CEO at Quarterhill. "We're beginning to see the results of our turnaround take hold, reflected in significant margin expansion, positive Adjusted EBITDA and strong cash generation. Gross margin improved to 26%, our highest level in more than two years, as we delivered better project execution, disciplined cost management and a more profitable revenue mix."

"Our Safety & Enforcement unit continues to perform exceptionally well, delivering gross margins above 40%, while our Tolling business is benefiting from restructuring actions and improved contract terms. With a robust $427 million revenue backlog3, a roughly $2 billion pipeline, and a strengthened balance sheet, we're now focused on accelerating growth and expanding profitability as we position Quarterhill as a leading, technology-driven ITS platform company."

Q3 2025 and Year-to-Date Financial Review
Quarterhill's Management's Discussion and Analysis and Financial Statements for the three and nine months ended September 30, 2025 are available at the Company's website and at its profile at SEDAR+.

Revenues for the three and nine months ended September 30, 2025, were $39.7 million and $116.7 million compared to $38.0 million and $114.4 million in the same periods last year. The increase in revenue for Q3 was due to growth in both the Company's tolling and safety and enforcement business units, while the increase for the year-to-date period was due to growth in the safety and enforcement unit.

Gross profit1 as a value and as a percentage of revenues may be subject to significant variance in each reporting period due to the nature and type of contract and service work performed and currency volatility. Gross profit for the three and nine months ended September 30, 2025, was $10.5 million and $20.7 million, or 26% and 18%, as compared to $5.1 million and $20.0 million, or 13% and 17%, in the same periods last year. The increase for Q3 and the year-to-date period was primarily due to the restructuring, improved margins on certain tolling contracts and continued strong margin performance from the safety and enforcement unit.

Total operating expenses are comprised of selling, general and administrative costs ("SG&A"), research and development ("R&D") costs, depreciation, amortization of intangible assets and other charges. Total operating expenses for the three and nine months ended September 30, 2025, were $13.7 million and $37.8 million compared to $11.3 million and $32.5 million in the same periods last year. The increase for Q3 is primarily due to higher costs related to stock-based compensation, recruitment, technical consulting, facilities, R&D and other charges. The increase for the year-to-date period is due to similar factors, offset, in part, by a decrease in depreciation and amortization expenses and certain other charges.

Adjusted EBITDA2 for the three and nine months ended September 30, 2025, was $1.4 million and ($4.7) million compared to ($2.8) million and ($0.9) million in the same periods last year. The increase in Adjusted EBITDA1 for Q3 was primarily due to the factors impacting revenue, gross margin and expenses, as previously described.  

Net loss for the three and nine months ended September 30, 2025, was ($4.7) million and ($19.9) million, or ($0.04) and ($0.17) per diluted share, compared to net losses of ($4.1) million and ($11.3) million, or ($0.04) and ($0.10) per diluted share, in the same periods last year.

Cash generated from (used in) operations for the three and nine months ended September 30, 2025, was $6.4 million and ($1.7) million compared to cash used in operations of ($1.7) million and ($11.0) million in the same periods last year. Cash and cash equivalents were $24.1 million at September 30, 2025, compared to $22.7 million at June 30, 2025, and $31.9 million at December 31, 2024. The Company made long-term debt repayments of $3.1 million in Q3.

Conference Call and Webcast

Quarterhill will host a conference call to discuss its financial results on Thursday, November 6, 2025, at 8:30 AM Eastern Time.

Webcast Information

Traditional Dial-in Information

  • To access the call from the U.S. and Canada, dial 1.888.699.1199 (Toll Free)
  • To access the call from other locations, dial 1.416.945.7677 (International)

Rapidconnect
To instantly join the conference call by phone, please use the following URL to easily register and be connected into the conference call automatically: https://emportal.ink/3L4bqmo        

Telephone Replay
Telephone replay will be available from November 6, 2025, until November 13, 2025, at: 1.888.660.6345 (Toll Free North America) or 1.289.819.1450.

Conference ID: 15004 and Replay Passcode: 15004 #

Non-IFRS Financial Measures and Non-IFRS Ratios
Quarterhill uses both IFRS and certain non-IFRS financial measures to assess performance. Non-IFRS financial measures are financial measures disclosed by a company that (a) depict historical or expected future financial performance, financial position or cash flow of a company, (b) with respect to their composition, exclude amounts that are included in, or include amounts that are excluded from, the composition of the most directly comparable financial measure disclosed in the primary financial statements of the company, (c) are not disclosed in the financial statements of the company, and (d) are not a ratio, fraction, percentage or similar representation. Non-IFRS ratios are financial measures disclosed by a company that are in the form of a ratio, fraction, percentage or similar representation that has a non-IFRS financial measure as one or more of its components, and that are not disclosed in the financial statements of the company.

These non-IFRS financial measures and non-IFRS ratios are not standardized financial measures under IFRS, and, therefore, are unlikely to be comparable to similar financial measures presented by other companies. Management believes these non-IFRS financial measures and non-IFRS ratios provide transparent and useful supplemental information to help investors evaluate our financial performance, financial condition, and liquidity using the same measures as management. These non-IFRS financial measures and non-IFRS ratios should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with IFRS.

Adjusted EBITDA - Non-IFRS Financial Measures

We use the non-IFRS financial measure "Adjusted EBITDA" to mean net loss adjusted for (i) income taxes, (ii) finance expense or income; (iii) amortization and impairment of intangibles; (iv) other charges and other one-time items; (v) depreciation of right-of-use assets and property, plant and equipment; (vi) stock-based compensation; (vii) foreign exchange (gain) loss ; (viii) other (income) expense; and (ix) changes in fair value of derivative liability. Adjusted EBITDA is used by our management to assess our normalized cash generated on a consolidated basis. Adjusted EBITDA is also a performance measure that may be used by investors to analyze the cash generated by Quarterhill. Adjusted EBITDA should not be interpreted as an alternative to net income (loss) and cash flows from operations as determined in accordance with IFRS or as measure of liquidity. The most directly comparable IFRS financial measure is net income (loss). See Reconciliation of Net Loss to Adjusted EBITDA below.

Adjusted EBITDA per share – Non-IFRS Ratio

Adjusted EBITDA per share is calculated as Adjusted EBITDA divided by the basic weighted average of common shares. Adjusted EBITDA per share is used by our management and investors to analyze cash generated by Quarterhill on a per share basis. The most comparable IFRS measure is earnings per share. See Reconciliation of Net Loss to Adjusted EBITDA below.

Backlog - Non-IFRS Financial Measure

We use the non-IFRS measure "backlog" to mean the total value of work that has not yet been completed but that in management's experience of similar situations has: (a) a high certainty of being performed pursuant to existing contracts or work orders specifying job scope, value and timing; (b) an expectation of expansion of existing contracts due to expected extensions; and/or (c) been awarded to one or more of our ITS operating subsidiaries as evidenced by a binding contract or where the finalization of a binding contract is reasonably assured. Activities under such contracts may cover a period of up to 15 years. We do not include in "backlog" the value of any expected but unsigned change orders that management considers may apply to such contracts.

Supplementary Financial Measures
Supplementary financial measures are financial measures disclosed by a company that (a) are, or are intended to be, disclosed on a periodic basis to depict the historical or expected future financial performance, financial position or cash flow of a company, (b) are not disclosed in the financial statements of the company, (c) are not non-IFRS financial measures, and (d) are not non-IFRS ratios. Key supplementary measures disclosed are as follows:

Gross margin %
Calculated as gross profit as a percentage of revenue.

About Quarterhill
Quarterhill is a global leader in the Intelligent Transportation System (ITS) industry, advancing mobility through smart infrastructure solutions that reduce congestion, improve roadway safety, and create more sustainable travel. Each year, Quarterhill's platforms process billions of transactions, perform compliance and safety inspections on millions of commercial vehicles, and enable transportation agencies worldwide to optimize thousands of lanes of traffic to improve travel for everyone. Leveraging advanced artificial intelligence and machine learning technologies, Quarterhill's platform delivers automation and predictive insight to help agencies manage transportation networks more efficiently. By working in close partnership with governments, communities, and industry leaders, Quarterhill is building today's connected roadways while shaping the next generation of intelligent, resilient mobility. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.

Forward-looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements") regarding Quarterhill, its operating subsidiaries and their respective businesses. Such forward-looking statements relate to future events, conditions or future financial performance of ‎Quarterhill based on future economic conditions and courses of action. All statements other ‎than statements of historical fact may be forward-looking statements. Such forward-looking statements ‎are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", ‎‎"plan", "goal", and similar expressions. These statements involve known and unknown risks, assumptions, ‎uncertainties and other factors that may cause actual results or events to differ materially from those ‎anticipated in such forward-looking statements. The Company believes the expectations reflected in ‎those forward-looking statements are reasonable, but no assurance can be given that these expectations ‎will prove to be correct and such forward-looking statements included in this news release should not be ‎unduly relied upon.‎ In particular, this news release contains forward-looking statements pertaining to, but not limited to, the ‎following: operational and financial expectations for the 2025 financial year, including revenue, gross margin and Adjusted EBITDA expectations; the Company's business plan and strategy, and outcomes thereof; the outcome of renegotiation efforts and mediation relating to our tolling contracts; the impact of contract renegotiation on our financial performance; the results of operational enhancements and technology investment by the Company; the anticipated cost savings from the restructuring; the Company's ability and path to achieve revenue growth, margin expansion and positive cash flow; and the impact of the Company's workforce reduction on the Company's operations, financial position and results.

‎Although the forward-looking statements contained in this news release are based upon assumptions ‎which management of the Company believes to be reasonable, the Company cannot assure investors ‎that actual results will be consistent with these forward-looking statements. With respect to forward-‎looking statements contained in this news release, the Company has made assumptions regarding, but ‎not limited to: the Company's ability to execute on its business plan; successful integration of acquisitions; general economic and industry trends; operating assumptions relating to the ‎Company's operations; demand for the Company's products and services; cost estimates for fixed price contracts; successful renegotiation of our tolling contracts on terms acceptable and favourable to the Company; and the other assumptions set forth in the ‎Company's most recent annual information form available under the Company's profile on SEDAR+ ‎at www.sedarplus.ca.‎

The Company's actual results could differ materially from those anticipated in the forward-looking ‎statements, as a result of numerous known and unknown risks and uncertainties and other factors ‎including, but not limited to: changes in demand for the Company's products and services; general economic, ‎political, market and business conditions, including fluctuations in interest rates, foreign exchange rates, ‎stock market volatility; reliance on key management personnel; risks related to competition within the Company's industry and relating to technological advances; litigation risks; cyber-security risks; fixed price contracts may result in unexpected costs to the Company; risks of health epidemics, pandemics and similar ‎outbreaks; the tolling contracts not successfully being renegotiated on terms acceptable or favourable to the Company, or at all; and the other risks set forth in the Company's most recent annual information form ‎and management's discussion and analysis for the three and twelve months ended December 31, 2024 available under the Company's profile on SEDAR+ at www.sedarplus.ca.‎

The Company's actual results, performance or achievement could differ materially from those ‎expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be ‎given that any of the events anticipated by the forward-looking statements will transpire or occur, or if ‎any of them do so, what benefits the Company will derive therefrom. Readers are therefore cautioned ‎that the foregoing lists of important factors are not exhaustive, and they should not unduly rely on the ‎forward-looking statements included in this news release. All forward-looking statements contained in this news release are expressly ‎qualified by this cautionary statement. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This news release contains "future-oriented financial information" and "financial outlooks" within the meaning of applicable Canadian securities laws (collectively, "FOFI"), including about the financial results, revenue, gross margin and Adjusted EBITDA of Quarterhill for the year ended December 31, 2025. FOFI, as with forward-looking ‎statements ‎generally, are, without limitation, based on the assumptions and qualifications, and are subject to the risks set out ‎above in respect of forward-looking statements. Quarterhill's actual financial position and results of operations may differ materially from ‎management's ‎current expectations and, as a result, the Company's financial results may differ ‎materially from ‎the FOFI provided in this news release. The Company and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments and the FOFI contained in this news release was approved by management as of the date hereof, for purposes of providing further information about the Company's future business operations and results. However, because this information is subjective and subject to numerous risks and assumptions, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, the Company undertakes no obligation to update such FOFI. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein, and such information is ‎presented for ‎illustrative purposes only and may not be an indication of the Company's actual ‎financial position or ‎results of operations.‎

1,Please refer to Gross Margin % in the Supplementary Financial Measures section for further information.

2.Please refer to the Adjusted EBITDA Non-IFRS Financial Measures section for further information.

3.Please refer to the Backlog - Non-IFRS Financial Measure section for further information.

Interim Condensed Consolidated Statements of Loss and Comprehensive Loss
(in thousands and in United States dollars, except share and per share amounts)

View original content:https://www.prnewswire.com/news-releases/quarterhill-announces-q3-2025-financial-results-302606849.html

SOURCE Quarterhill Inc.

Quarterhill to Announce Q3 2025 Financial Results

Quarterhill to Announce Q3 2025 Financial Results
October 23, 2025
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TORONTO, Oct. 23, 2025 /PRNewswire/ - Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF) will release its financial results for the three and nine months ended September 30, 2025, on Thursday, November 6, 2025. Chuck Myers, CEO, and David Charron, CFO, will host a conference call and audio webcast at 8:30 a.m. ET the same day.

Webcast Information

Traditional Dial-in Information

  • To access the call from the U.S. and Canada, dial 1.888.699.1199 (Toll Free)
  • To access the call from other locations, dial 1.416.945.7677 (International)

Rapidconnect
To instantly join the conference call by phone, please use the following URL to easily register and be connected into the conference call automatically: https://emportal.ink/3L4bqmo

Telephone Replay
Telephone replay will be available from November 6, 2025, until November 13, 2025, at: 1.888.660.6345 (Toll Free North America) or 1.289.819.1450.

Conference ID and Replay Passcode: 15004

About Quarterhill
Quarterhill is a global leader in the Intelligent Transportation System (ITS) industry, advancing mobility through smart infrastructure solutions that reduce congestion, improve roadway safety, and create more sustainable travel. Each year, Quarterhill's platforms process billions of transactions, perform compliance and safety inspections on millions of commercial vehicles, and enable transportation agencies worldwide to optimize thousands of lanes of traffic to improve travel for everyone. Leveraging advanced artificial intelligence and machine learning technologies, Quarterhill's platform delivers automation and predictive insight to help agencies manage transportation networks more efficiently. By working in close partnership with governments, communities, and industry leaders, Quarterhill is building today's connected roadways while shaping the next generation of intelligent, resilient mobility. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, please visit: www.quarterhill.com

View original content:https://www.prnewswire.com/news-releases/quarterhill-to-announce-q3-2025-financial-results-302592377.html

SOURCE Quarterhill Inc.

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News Release

Quarterhill Files Final Base Shelf Prospectus

Quarterhill Files Final Base Shelf Prospectus
July 18, 2025

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Toronto, Canada – July 18, 2025 – Quarterhill Inc. (“Quarterhill” or the “Company”) (TSX: QTRH) (OTCQX: QTRHF), announces today that it has obtained a receipt for its final short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada, except Quebec.

As previously announced, the final base shelf prospectus allows the Company to qualify the distribution by way of prospectus in Canada of up to C$200 million of common shares, preferred shares, debt securities, warrants, subscription receipts, units, or any combination thereof, during the 25-month period that the base shelf prospectus is effective. The specific terms of any offering under the base shelf prospectus will be established in a prospectus supplement, which will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.

The shelf prospectus will enable the Company to access new capital or issue securities in connection with strategic acquisitions, if and when needed. The amount and timing of any future offerings or issuances will be based on the Company’s financial requirements and market conditions at that time.

A copy of the final short form base shelf prospectus can be found on SEDAR+ at www.sedarplus.ca.

This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Quarterhill

Quarterhill is a leading provider of tolling, safety and enforcement, and logistics solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.

Forward-looking Information

This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Such forward-looking statements relate to future events, conditions or future financial performance of Quarterhill based on future economic conditions and courses of action. All statements other than statements of historical fact may be forward-looking statements. Such forward-looking statements are often, but not always, identified by the use of any words such as “seek”, “anticipate”, “budget”, “plan”, “goal”, “expect” and similar expressions. Specifically, this news release contains forward-looking statements relating to, but not limited to: the filing and effectiveness of any potential prospectus supplement in the future; future financing opportunities; the amount and terms of any securities to be offered under one or more shelf prospectus supplement(s); and the Company’s focus on its acquisition strategy.

Forward-looking statements involve known and unknown risks, assumptions, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill’s products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; force majeure risks; and other risks set forth in the Company’s most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill’s ability to execute on its business plan; demand for Quarterhill’s products and services; operating assumptions; and financial projections and cost estimates. These foregoing lists are not exhaustive. Additional information on these and other factors which could affect the Company's operations or financial results are included in the Company’s most recent annual information form and other public documents on file with the Canadian Securities regulatory authorities on www.sedarplus.ca.

The forward-looking statements represent the Company’s views as at the date of this news release. There can be no assurance that forward-looking statements will prove to be accurate, as actual events and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on any forward-looking statement. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

For media and investor inquiries, please contact:
Dave Mason
Investor Relations
T: 416.247.9652
E: dave.mason@loderockadvisors.com

News Release

Quarterhill to Host Virtual Annual and Special Meeting of Shareholders on May 12, 2025

Quarterhill to Host Virtual Annual and Special Meeting of Shareholders on May 12, 2025
April 11, 2025

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Six nominees stand for election to the Board of Directors: Rusty Lewis, Chuck Myers,
Asha Daniere, Pasquale T. (Pat) Deon Sr., Robin Saunders and Stephen A. Smith

TORONTO, April 11, 2025 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), announces details of its upcoming Annual and Special Meeting of shareholders ("Meeting") to be held virtually on Monday, May 12, 2025, at 10:00 a.m. (Eastern time).

At the Meeting, registered shareholders and duly appointed proxyholders will have an opportunity to participate, ask questions and vote in real time provided they comply with the applicable procedures set out in Quarterhill's Management Information Circular dated April 1, 2025 (the "Circular").

SIX NOMINEES STAND FOR ELECTION TO THE BOARD OF DIRECTORS
Four current directors - Rusty Lewis, Chuck Myers, Pasquale T. (Pat) Deon Sr. and Robin Saunders – are standing for election to the Board of Directors (the "Board"), along with two new nominees – Asha Daniere and Stephen A. Smith. Full details regarding all nominees can be found in the Circular.

Ms. Daniere and Mr. Smith are seasoned business executives with significant public company board experience. Ms. Daniere brings extensive governance and operational leadership experience to the Board. As Principal of Asha P. Daniere Professional Corporation, she provides strategic and legal counsel to media, entertainment, and technology clients. Ms. Daniere currently serves on the boards of MEGA Uranium Inc. (TSX) and Thunderbird Entertainment Inc. (TSX-V). Her executive experience includes serving as Executive Vice President, Legal and Business Affairs at Blue Ant Media Inc. (2012-2020), along with prior management roles in both public and private companies. Ms. Daniere began her career as an associate at White & Case LLP in New York. She holds a Bachelor of Arts from the University of Toronto and a Juris Doctor from Tulane Law School and is admitted to the bar in both Ontario and New York.

Mr. Smith brings strong accounting and governance expertise to the Board. He currently serves as a director of Organigram Holdings (TSX, NASDAQ), Flow Beverage Corp. (TSX) and as Chair of the Board of CanPR Technology Ltd. (TSX-V). His board leadership extends to previous directorships that include Freshii Inc. (TSX), Newstrike Brands (TSX-V) and CST Brands Ltd. (NYSE). Mr. Smith's extensive executive career includes roles as Co-CEO and CFO of Cara Operations Limited (now Recipe Unlimited) and Executive Vice President, CFO of Loblaw Companies Limited, where he demonstrated leadership in financial oversight, risk management, and strategic planning for major public companies. Mr. Smith began his career with PricewaterhouseCoopers and holds a Bachelor of Commerce from the University of Toronto and a CPA, Chartered Accountant designation from the Ontario Institute of Chartered Accountants.

"We believe Asha and Stephen will be valuable additions to our Board of Directors," said Rusty Lewis, Chair of the Board at Quarterhill. "Their complementary expertise—Asha's legal and governance background paired with Stephen's financial acumen—brings valuable perspective as we seek to capitalize on our organic and non-organic growth opportunities. Both nominees have impressive track records guiding public companies through periods of strategic growth, and their addition reflects our commitment to building a Board with diverse skills and experiences to drive long-term shareholder value."

TO VOTE AHEAD OF THE VIRTUAL MEETING
Quarterhill is using "notice and access" to deliver proxy-related materials including Quarterhill's notice of meeting, Circular and related materials (collectively the "Meeting Materials") to both registered and non-registered shareholders. Shareholders will receive a notice package containing information on how to vote and access the Meeting Materials (the "Notice Package").

The Notice Package is being mailed (or sent electronically) on or about April 11, 2025. If you have not received your copy of the Notice Package by April 26, 2025, please contact your broker if you are a non-registered shareholder or contact Computershare Investor Services Inc. ("Computershare") if you are a registered shareholder. These materials outline in detail how to participate and vote at the Meeting.

The Meeting Materials will be made available today at Quarterhill's profile on SEDAR+ at www.sedarplus.ca and under Governance Documents in the Investors Section of the Company's website at www.quarterhill.com.

As in prior years, shareholders have multiple options to cast their vote ahead of the Meeting, which include on-line, via telephone or via mail. Details on using each method are included in the Circular and the form of proxy (or voting instruction form). Shareholders who are planning to vote ahead of the Meeting must submit their proxy voting instructions to Computershare no later than 10:00 a.m. (Eastern time) on Thursday, May 8, 2025.

ATTENDING THE VIRTUAL MEETING AS A GUEST
All shareholders will be able to attend the Meeting as guests during the live webcast. To do so, login online at: https://meetnow.global/MRFXRDH. Please login prior to the start time of the Meeting on May 12, 2025, to ensure a proper connection.

TO VOTE OR ASK QUESTIONS AT THE VIRTUAL MEETING
For registered shareholders and duly appointed proxyholders to vote and/or ask questions at the Meeting, please follow the instructions set out in our Circular.

All shareholders wishing to have a question addressed at the virtual Meeting can avoid the registration requirements set out in the Circular by submitting them to dave.mason@loderockadvisors.com in advance of the Meeting. Quarterhill is committed to addressing all appropriate questions submitted by shareholders either live during the Meeting or in advance, as timing and circumstances permit.

About Quarterhill
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.

Forward-looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements relate to future events, conditions or future financial performance of ‎ Quarterhill based on future economic conditions and courses of action. All statements other ‎ than statements of historical fact may be forward-looking statements. Such forward-looking statements ‎ are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", ‎‎ "plan", "goal", "expect" and similar expressions. This news release contains forward-looking statements relating to, among other matters, the Meeting date and matters to be approved thereat as well as Quarterhill's business strategy.

Forward-looking statements involve known and unknown risks, assumptions, ‎uncertainties and other factors that may cause actual results or events to differ materially from those ‎ anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; force majeure risks; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in ‎ the forward-looking statements are reasonable, but no assurance can be given that these expectations‎ will prove to be correct and such forward-looking statements included in this news release should not be ‎ unduly relied upon. ‎Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View original content:https://www.prnewswire.com/news-releases/quarterhill-to-host-virtual-annual-and-special-meeting-of-shareholders-on-may-12-2025-302426227.html

SOURCE Quarterhill Inc.

News Release

Quarterhill to Announce Q4 and Fiscal 2023 Financial Results

Quarterhill to Announce Q4 and Fiscal 2023 Financial Results
March 1, 2024

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TORONTO, March 1, 2024 /PRNewswire/ - Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF) will release its financial results for the three- and twelve-month periods ended December 31, 2023, on Friday, March 15, 2024. Chuck Myers, CEO, and Kyle Chriest, Interim CFO, will host a conference call and audio webcast at 10:00 a.m. ET the same day.

Webcast Information

Traditional Dial-in Information

  • To access the call from Canada and U.S., dial 1.888.664.6383 (Toll Free)
  • To access the call from other locations, dial 1.416.764.8650 (International)

Rapidconnect

To instantly join the conference call by phone, please use the following URL to easily register and be connected into the conference call automatically: https://emportal.ink/49QcJge

Telephone Replay

Telephone replay will be available from March 15, 2024, until March 22, 2024, at: 1.888.390.0541 (Toll Free North America) or 1.416.764.8677.

Conference ID: 14601908 and Replay Passcode: 601908 #

About Quarterhill

Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants, LLC (ETC) and International Road Dynamics Inc. (IRD) platforms, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, visit www.quarterhill.com.      

View original content:https://www.prnewswire.com/news-releases/quarterhill-to-announce-q4-and-fiscal-2023-financial-results-302076599.html

SOURCE Quarterhill Inc.

News Release

North Dakota DOT Selects Quarterhill's iTHEIA™ AI Classification System for Traffic Monitoring

North Dakota DOT Selects Quarterhill's iTHEIA™ AI Classification System for Traffic Monitoring
June 6, 2024

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  • Quarterhill will supply and maintain iTHEIA™ video-based AI traffic count and classification systems at 17 sites across North Dakota.
  • Vehicle count and classification data from iTHEIA, an advanced AI-powered, video-based system, will provide essential data for highway planning, design, maintenance, and management in the state.

TORONTO, June 6, 2024 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), announced today that it has been awarded two contracts valued at $1.5 million for the supply and maintenance of iTHEIA™ AI Video Automatic Traffic Recorders ("ATR") in the western and eastern regions of North Dakota. All financial information in this press release is reported in U.S. dollars.

The two contracts involve iTHEIA™ upgrades for 14 existing traffic data collection sites located across the state and the installation of three additional sites at Bismarck Expressway, Buxton, and Bowesmont. This expansion will use artificial intelligence ("AI") to bolster the North Dakota Department of Transportation ("NDDOT") data collection capabilities, ensuring comprehensive traffic data collection throughout the year.

These AI-powered ATR sites will play a critical role in collecting vehicle count and classification data, which is essential for highway planning, design, maintenance, and management in North Dakota. Traffic volume counts, including data on commercial vehicles, passenger vehicles, bicycles, and pedestrians, are crucial inputs for traffic engineering and planning analyses. This data supports the development of infrastructure project design parameters, which are vital inputs for road construction plans.

To meet these objectives, the NDDOT will utilize Quarterhill's iTHEIA™ non-intrusive data collection solution. iTHEIA™ utilizes video and machine learning for vehicle traffic counting and classification. iTHEIA™ offers significant advantages, including:

  • Security and Reliability: An industrial-grade computing system and Linux operating system provide high reliability and security, and an NDAA-compliant camera system meets Federal requirements.

  • Safety and Cost-Effectiveness: By eliminating the need for road closures during installation and maintenance, iTHEIA™ enhances safety and reduces costs.

  • Superior Longevity: Unlike in-road sensor-based systems, iTHEIA™ is unaffected by pavement degradation and performs reliably regardless of road surface conditions.

  • Autonomous: iTHEIA™ uses powerful edge-computing technology to perform vehicle counts and classification at the roadside, eliminating the need to upload video for third-party processing.

  • Comprehensive Data Collection: iTHEIA™ provides accurate and continuous traffic data collection, essential for informed decision-making in transportation infrastructure planning and management.

Quarterhill is committed to delivering innovative solutions that enhance safety and promote sustainable transportation infrastructure. The iTHEIA™ system represents a leap forward in traffic data collection technology, contributing to safer and more efficient roadways.

"We are pleased to expand our relationship with NDDOT and to enhance the state's traffic data collection capabilities with our cutting-edge iTHEIA™ solution," said Chuck Myers, CEO of Quarterhill. "These contracts not only underscore the confidence in our technology but also demonstrate our commitment to providing AI-based systems for safer, more efficient, and cost-effective transportation management. Ensuring the accuracy of traffic data is paramount, and with iTHEIA™, we will deliver comprehensive vehicle data to serve North Dakota's needs for years to come."

About Quarterhill

Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.

Forward-looking Information

This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements relate to future events, conditions or future financial performance of ‎Quarterhill based on future economic conditions and courses of action. All statements other ‎than statements of historical fact may be forward-looking statements. Such forward-looking statements ‎are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", ‎‎"plan", "goal", "expect" and similar expressions.

Forward-looking statements involve known and unknown risks, assumptions, ‎uncertainties and other factors that may cause actual results or events to differ materially from those ‎anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in ‎the forward-looking statements are reasonable, but no assurance can be given that these expectations ‎will prove to be correct and such forward-looking statements included in this news release should not be ‎unduly relied upon.‎ Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View original content:https://www.prnewswire.com/news-releases/north-dakota-dot-selects-quarterhills-itheia-ai-classification-system-for-traffic-monitoring-302165590.html

SOURCE Quarterhill Inc.

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News Release

Quarterhill Announces Closing of Red Fox Acquisition

Quarterhill Announces Closing of Red Fox Acquisition
April 8, 2024

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TORONTO, April 8, 2024 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System ("ITS") industry, announces that it has completed the previously announced acquisition of Red Fox I.D. Limited ("Red Fox").

Based in Haddenham, England, Red Fox is a profitable and growing provider of Automatic Vehicle Detection and Classification ("AVDC") software to the tolling industry. AVDC is responsible for the detection, classification and tracking of a vehicle as it enters and exits a tolling facility. Red Fox's Quantum software platform is able to process captured data from both LiDAR and "in pavement" inductive loops, making it unique in the market and at the forefront of advanced AVDC solutions.

"The Red Fox transaction met both our strategic and financial criteria for an acquisition, and we are pleased to welcome their team to Quarterhill," said Chuck Myers, CEO of Quarterhill. "Red Fox is a leader in AVDC software, and their products are an ideal fit with our increasing focus on technology as a differentiator in the market. We expect the acquisition to be immediately accretive to cash flow and Adjusted EBITDA, and we look forward to investing further in their product platform and capabilities."

For more information on Red Fox, visit www.redfoxid.co.uk

About Quarterhill

Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.

Forward-looking Information

This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements relate to future events, conditions or future financial performance of ‎Quarterhill based on future economic conditions and courses of action. All statements other ‎than statements of historical fact may be forward-looking statements. Such forward-looking statements ‎are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", ‎‎"plan", "goal", "expect" and similar expressions. In particular, this news release contains forward-looking statements pertaining to, but not limited to, the ‎following: the Company's business plan; anticipated financial and operational results of Red Fox; integration of Red Fox into the Company's business; future investment in the Red Fox product platform; and the impact of the Red Fox acquisition on Quarterhill's financial results.

Forward-looking statements involve known and unknown risks, assumptions, ‎uncertainties and other factors that may cause actual results or events to differ materially from those ‎anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in ‎the forward-looking statements are reasonable, but no assurance can be given that these expectations ‎will prove to be correct and such forward-looking statements included in this news release should not be ‎unduly relied upon.‎ Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; stock exchange approval of the Red Fox acquisition; successful integration of Red Fox; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View original content:https://www.prnewswire.com/news-releases/quarterhill-announces-closing-of-red-fox-acquisition-302110906.html

SOURCE Quarterhill Inc.

‍

News Release

Quarterhill Streamlines Operations to Reduce Costs and Align with Strategic Priorities

Quarterhill Streamlines Operations to Reduce Costs and Align with Strategic Priorities
July 24, 2025

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TORONTO, July 24, 2025 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), today announced a workforce reduction of approximately 100 positions, representing approximately 15% of total headcount. This strategic initiative is intended to reduce costs, accelerate the path toward sustainable positive Adjusted EBITDA and operating cash flow, and better align resources with our long-term strategic priorities and those of our customers.

The reduction, affecting both contract and full-time roles in roughly equal measure, is expected to generate annualized cost savings of approximately US$12 million. The reduction is primarily focused on operational areas that affect cost of sales, with a partial benefit to be realized in 2025 and the full benefit expected in 2026.

"While it is always difficult to part with good people, these changes are necessary to ensure we remain focused and well-positioned for long-term growth," said Chuck Myers, CEO at Quarterhill. "This is one of several decisive steps we are taking to strengthen our financial foundation, and represents a critical milestone in our objective to achieve positive Adjusted EBITDA margins and operating cash flow. At the same time, as we progress through this transition period, we will be better positioned to serve our customers with the highest standard of service."

About Quarterhill
Quarterhill is a leading provider of tolling, safety and enforcement, and logistics solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.

Forward-looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements relate to future events, conditions or future financial performance of ‎Quarterhill based on future economic conditions and courses of action. All statements other ‎than statements of historical fact may be forward-looking statements. Such forward-looking statements ‎are often, but not always, identified by the use of any words such as "seek", "anticipate", "budget", ‎‎"plan", "goal", "expect" and similar expressions. Specifically, this news release contains forward-looking statements relating to, but not limited to: the anticipated cost savings from the workforce reduction; the Company's ability and path to achieve sustainable positive Adjusted EBITDA; and the impact of the workforce reduction on the Company's operations, financial position and results.

Forward-looking statements involve known and unknown risks, assumptions, ‎uncertainties and other factors that may cause actual results or events to differ materially from those ‎anticipated in such forward-looking statements. Material risk factors that could cause actual results to differ materially from the forward-looking statements contained in this news release include, among others, demand for Quarterhill's products and services; general economic and market conditions; competition; risks relating to technological advances and cyber-security; force majeure risks; and other risks set forth in the Company's most recent annual information form available on SEDAR+ at www.sedarplus.ca. The Company believes the expectations reflected in ‎the forward-looking statements are reasonable, but no assurance can be given that these expectations ‎will prove to be correct and such forward-looking statements included in this news release should not be ‎unduly relied upon.‎ Material factors and assumptions used to develop the forward-looking statements contained in this news release include, among others: Quarterhill's ability to execute on its business plan; demand for Quarterhill's products and services; operating assumptions; and financial projections and cost estimates. These foregoing lists are not exhaustive. Additional information on these and other factors which could affect the Company's operations or financial results are included in the Company's most recent annual information form and other public documents on file with the Canadian Securities regulatory authorities on www.sedarplus.ca.

The forward-looking statements represent the Company's views as at the date of this news release. There can be no assurance that forward-looking statements will prove to be accurate, as actual events and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on any forward-looking statement. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

View original content:https://www.prnewswire.com/news-releases/quarterhill-streamlines-operations-to-reduce-costs-and-align-with-strategic-priorities-302512864.html

SOURCE Quarterhill Inc.

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