RE:RE:Material informationIf there is no press release does not necessarily mean that you, personally,or others would not consider it material.
More importantly, although it is somewhat subtle and a bit confusing, revenue beats or misses could be "material information, but generally, they are not "material change". Only "material change" require immediate disclosure.
Material change refers to change in the business or operations, and revenue beats or misses are not considered such (based on case law).
For OSC purposes, changes to revenue can wait for the quarterly release (but in menatime, insiders should not trade if the reveune item is material).
The TSX rules, which are broader. appear to require immediate reporting of revisions to near term propfitability if such change would have a material impact on share price. But QTRH could:
1. feel that QTRH disclosures to date about 2021 expected licensing revenue means they have already disclosed to the market, and further announcement of their expected revenue or Ebitda would not have a material impact on share price, and or
2. not necessarily care about TSX rules as much
Note - on your point on early disclosure the revenue misses - I disagree - look at the SP performance after 2020Q4 was announced March 2021. The SP reaction in the say 10 to15 days following appears to show that the info re Q4 was material.