The Toronto-based technology firm generated $42.5 million in revenue during the second quarter, compared to $43.1 million in the same period last year. Despite the marginal revenue dip, the company saw a significant expansion in gross margin, which rose to 29% from 15% a year prior. Management attributed this improvement to internal restructuring and disciplined execution on key contracts.
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Quarterhill Posts Profitable Quarter Ahead of Conduent Acquisition
Quarterhill Inc. reported its strongest quarter of profitability in over three years, posting $4.6 million in adjusted EBITDA for the period ending June 30, 2026. This marks the company's fourth consecutive quarter of positive adjusted EBITDA, signaling a shift as it prepares to integrate Conduent’s tolling business later this year.
Looking toward the end of 2026, the company expects its $70 million acquisition of Conduent’s tolling solutions business to reshape its market presence. Upon closing, the transaction is slated to triple the company’s tolling revenue and establish it as the second-largest tolling operator in the U.S., backed by a combined $2 billion backlog. CEO Chuck Myers stated that the company’s immediate priorities remain the finalization of the deal and a smooth integration process. Meanwhile, organic growth continues to gain momentum, with recent wins in Utah, Illinois, and Oklahoma bolstering the firm’s position in the intelligent transportation sector.
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