Q1 2026 Quarterhill Inc Earnings Call Transcript
Key Points
- Quarterhill Inc (QTRHF) reported a 14% year-over-year revenue growth, reaching $38.6 million for Q1 2026.
- The company achieved a significant improvement in gross margins, increasing from 12% in Q1 2025 to 28% in Q1 2026.
- Quarterhill Inc (QTRHF) posted its third consecutive quarter of positive adjusted EBITDA, marking a $5.5 million improvement year-over-year.
- The company secured a $100 million accordion facility to support strategic growth initiatives and M&A activities.
- Quarterhill Inc (QTRHF) has a robust backlog of $428.8 million, providing multi-year revenue visibility and a strong pipeline of over $2 billion.
- Quarterhill Inc (QTRHF) experienced a decrease in cash reserves, ending Q1 2026 with $14.7 million compared to $24.8 million at the end of 2025.
- The company used $5.4 million of cash from operations during Q1 2026, primarily due to normal working capital fluctuations.
- Revenue variability remains a challenge, with project timing and milestone recognition affecting quarterly results.
- The tolling segment faced variability in project timing, impacting overall revenue growth.
- Despite improvements, the company acknowledges that Q1 is typically its softest quarter due to weather conditions limiting field execution.
Good morning, everyone, and welcome to the Quarter Hill First Quarter 2026 financial results conference Call.
Joining us today are Chuck Myers, Chief Executive Officer, and David Charron, Chief Financial Officer.
(Operator Instructions)
Earlier this morning, Quarter Hill issued a news release announcing its financial results for the first quarter ended March 31st, 2026.
This news release, along with the company's MD&A and financial statements, are available on Cedar Plus. Certain matters discussed during today's conference call or responses to questions may constitute forward-looking statements. Actual results could differ materially from those anticipated.
Risk factors that could affect results are detailed in the company's annual information form and other public filings available on SEDAR+.
During this conference call quarter here, we'll refer to adjusted EBITDA. Adjusted EBITDA does not have any standardized meeting prescribed by IFRS. Please refer to the company's Q1-2026 MD&A for full cautionary notes regarding the use of forward
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