RE:RE:RE:transportation payment systemI've took a moment yesterday to relisten to the Q3 call (https://app.webinar.net/R2gYoZwnlzM).
Myers opens by introdcuing himself, outlines why he took the CEO job and he then lays out the near term strategy. He doesn't define near term, but one can assume it holds until a much anticipated presentation on "strategy" at the Q4 results. Highlights of his comments were: - Become a major player in the ITS industry; there is only room for a few
- QTRH has world class platform assets in tolling and enforcement
- Focused will be on growing both assets
- Generate positve cash flow so as to build a balance sheet that can support both organic and acquisitive growth
- M&A not on the table in the near term, but synergistic tuckins could fit
- Reintroduce QTRH to the investment community and communicate the execution of QTRH's growth potential
None of this suggest that assets are being considered for divestiture or that a debt-supported acquisition strategy is imminent. Myers delivered an organic growth message. In the first 6-9 months of 2023, QTRH pulled back on the pursuit of new tolling contracts in order to focus of transitioning current projects from implementation to operations. With that now well down the road to completion, it is reasonable to expect that QTRH soon to announce new business gains, while still highlighting further project transitioning. I believe that January has been earmarked to address point #6 above, the (re)introduction of QTRH to institutional investors and funds.
I don't know how many noticed QTRH's Executive VP-Strategy hire near quarter end. David Sparks was a Senior VP at WSP, a major engineering firm and part of WSP's mobility operations group. This augments the QTRH's experience depth in tolling and transit. Clearly this points to a direction. David Sparks bio, from the QTRH website and LinkedIn link: Dave is a recognized thought leader in the transportation industry and his experience spans Intelligent Transportation Systems (ITS), tolling, Radio Frequency Identification (RFID), transit, and more. In his most recent role as Senior Vice President at WSP, Dave was part of the leadership team in the Mobility Operations Group, focusing on the toll, transit and ITS segments. His accomplishments include leading multi-modal projects in transition, identifying and executing client opportunities, and developing strategies to expand business into new markets.
https://www.linkedin.com/in/david-sparks-a0827422/
Q1/24 can be expected to be active for news, imho.