Quarterhill Inc.: Unveiling the Financial Results for the Year Ended December 31, 2024
Toronto, March 17, 2025 – Quarterhill Inc. (Quarterhill or the Company), a prominent player in the Intelligent Transportation System (ITS) industry, recently released its financial results for the three and twelve months ended December 31, 2024. The financial data below is presented in US dollars, unless stated otherwise.
Financial Highlights
For the twelve months ended December 31, 2024:
- Total revenue: $150.5 million, an increase of 11% compared to the previous year
- Gross profit: $86.5 million, up by 13%
- Operating income: $28.3 million, a jump of 21%
- Net income: $12.6 million, a significant improvement from the previous year’s net loss
The company also reported strong financial performance for the three months ended December 31, 2024:
- Total revenue: $37.2 million, a 7% increase from the previous quarter
- Gross profit: $21.7 million, up by 11%
- Operating income: $7.2 million, a rise of 18%
- Net income: $2.7 million, a substantial improvement from the previous quarter’s net loss
Impact on Individuals
Quarterhill’s financial success in the ITS industry may lead to further advancements in transportation technology, making travel more efficient and safer for individuals. The company’s tolling and enforcement solutions can help reduce traffic congestion and improve overall road safety. Additionally, Quarterhill’s focus on innovation could lead to the development of new technologies that benefit commuters, such as real-time traffic information and automated toll collection systems.
Impact on the World
The improved financial performance of Quarterhill in the ITS sector could contribute to the growth and expansion of this industry on a global scale. The implementation of advanced transportation technologies, such as tolling and enforcement solutions, can help reduce traffic congestion, improve traffic flow, and lower greenhouse gas emissions in cities around the world. Furthermore, the development and implementation of these technologies can create new jobs and stimulate economic growth.
Conclusion
Quarterhill’s impressive financial results for the year ended December 31, 2024, mark a significant milestone in the company’s journey towards becoming a leading provider of tolling and enforcement solutions in the ITS industry. The positive impact of these financial results on individuals and the world can be seen in the form of more efficient and safer transportation systems, increased economic opportunities, and a reduction in traffic congestion and greenhouse gas emissions. As Quarterhill continues to innovate and grow, we can expect to see even more advancements in the field of ITS, ultimately leading to a more connected and efficient transportation network.
Stay tuned for more updates on Quarterhill’s progress and the latest developments in the ITS industry.
