Quarterhill Inc. (TSX: QTRH), today released the results for Q2 ended June 30, 2021. The company saw consolidated revenues of $18.9 million, and a net loss of approximately $6.4 million.
The company saw a decrease in gross profit, recording a little over $3.3 million for the quarter. Comparatively, the year-ago period reflected approximately $4.1 million in gross profit. The quarter saw Quarterhill’s gross margin dropping by 7%, with the company realizing 18% for the period. Year to date, gross margin was recorded at 26%, a 4% decrease when compared to the same period last year.
Net loss for Q2 was recorded at $6.37 million, a decrease from last year’s figure of approximately $9.5 million. Earnings per share increased slightly with the company posting $0.06 from continuing operations, a $0.02 cent increase over the same period last year.
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Quarthill’s consolidated adjusted EBITDA was recorded at $3.0 million, with the Intelligent Transportation Systems segment generating $2.7 million of positive adjusted EBITDA for the company.
Quarterhill Inc. last traded on the TSX at $2.32.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
