Quarterhill Inc T.QTRH

Iteris reports Q2

[cabbieJBJ]

Fiscal Second Quarter 2022 Financial Summary

• Total revenue of $33.2 million, up 14% year over year

• Record total ending backlog of $83.4 million, up 14% year over year

• GAAP net loss from continuing operations of $2.1 million, or $(0.05) per diluted share, due to a one-time, non-cash charge in the second quarter related to an amendment to a software development contract

• Adjusted EBITDA of $2.3 million, an 18%, or $0.4 million, improvement year over year
   

  Fiscal First Half 2022 Financial Summary

  • Total revenue of $67.3 million, up 18% year over year

  • GAAP net loss from continuing operations of $1.5 million, or $(0.03) per diluted share, due to a one-time, non-cash charge in the second quarter related to an amendment to a software development contract

  • Adjusted EBITDA of $5.4 million, a 28%, or $1.2 million, improvement year over year

   

  Fiscal Full Year 2022 Outlook

  • Maintains the total revenue guidance range of $134 million to $142 million, which would represent year-over-year growth of 15% at the low end and 21% at the high end

  • Maintains adjusted EBITDA guidance range of 7% to 8% of fiscal full year 2022 revenue, which would represent year-over-year growth of 10% at the low end and 27% at the high end

[mrmoribund]

Good numbers though most of that revenue gain can be attributed to the late 2020 acquisition of TrafficCast.

[cabbieJBJ]

I realize that mrmoribund.  Editda is thin as well.  I dpo like the simplicity in the way Iteris reports, especially the backlog and the full year guidance.

[cabbieJBJ]

In addition, presser writers should learn from the Iteris headline on the Q2 release: Iteris Reports 18% Revenue Growth Year Over Year for First Half of Fiscal 2022 and Maintains Full Year Revenue Guidance of $134 Million to $142 Million