RE:RE:RE:RE:RE:Valuation & NCIBMrmoribund, not only is QTRH's cash position super solid, as you note, but the ITS revenue pipeline is super solid as well - evidence that ~USD $430M in contracts have been signed by ETC and IRD over the past 24 months. Additionally, the ~USD $430M does not include any change order add-ons (which in ETC's experience amounts ot ~8.5x the original face value on the agreement) or the option years on the agreements.
It's still very much about managing costs, and therefore margins, and securing additional contracts (new contracts I believe will better reflect the general market cost/inflationary landscape).
Apropos REKR, if it's technology is as good as claimed, perhaps it can soon be had for less than the cost to develop the software. In my opinion, REKR is being punished for lack of revenue after it has, for some time, promised big revenue...now next year, maybe. QTRH has a good revenue profile; REKR does not (ditto for ITI). Furthermore, both REKR and ITI initiatives do not provide revenue upside for their customers and therfore are a drag on state and local ITS budgets - a very bad read in the current market environment.