Quarterhill Inc. (TSE:QTRH) has released an update.
Quarterhill Inc. reported a significant increase in Q4 2023 revenue, up 46% to $58.5 million, with an annual revenue rise of 22% at $194.3 million, alongside positive adjustments in EBITDA. The company is also expanding its portfolio with the acquisition of Red Fox I.D. Limited, a provider of advanced vehicle detection software for the tolling industry, aiming to strengthen its position in the ITS market. Further, Quarterhill announced key executive appointments, including Kyle Chriest as the new CFO, and will switch to reporting in U.S. currency starting Q1 2024.
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