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Quarterhill Inc T.QTRH

Alternate Symbol(s):  QTRHF | T.QTRH.DB

Quarterhill Inc. is a Canada-based company, which is engaged in providing of tolling and enforcement solutions in the intelligent transportation system (ITS) industry. The Company is focused on the acquisition, management and growth of companies that provide integrated, tolling and mobility systems and solutions to the ITS industry as well as its adjacent markets. The Company’s solutions include congestion charging, performance management, insights & analytics, analytics, toll interoperability, mobility marketplace, maintenance, e-screening, tire anomaly detection, multi-modal data, intersection management, and others. Its tolling includes roadside technologies, commerce and mobility platforms, audit and enforcement, and tolling services. Its safety and enforcement comprise commercial vehicles, automated enforcement, freight mobility, smart transportation, and data solutions. The Company’s wholly owned subsidiary is International Road Dynamics Inc.


TSX:QTRH - Post by User

Comment by cabbieJBJon Aug 23, 2023 10:04am
133 Views
Post# 35601621

RE:credit agreement HSBC and 500 million back log

RE:credit agreement HSBC and 500 million back logTsmith, I will answer your questions even though I am suspicous of your motivation.  In future, some due diligence on your part would be an important signal that you want to be a contributing, participarory member of this board.
  1. HSBC credit facility - money borrowed to finance ~50% of the acquisition of ETC.  $75M loan in Sep-2021.  Current balance is <$30M.  Detail of the HSBC Agreement can be found on Sedar.
  2. Backlog - In the financial results releases, QTRH has advised that the backlog represents the residual value of contracts, including extension periods but does NOT include change order revenue.  This has been regularily stated in the financial results release, as noted below.

Backlog - Non-IFRS Financial Measures

We use the non-IFRS measure "backlog" to mean the total value of work that has not yet been completed but that in management's experience of similar situations has: (a) a high certainty of being performed pursuant to existing contracts or work orders specifying job scope, value and timing; (b) an expectation of expansion of existing contracts due to expected extensions; and/or (c) been awarded to one or more of our ITS operating subsidiaries as evidenced by a binding contract or where the finalization of a binding contract is reasonably assured. Activities under such contracts may cover a period of up to 15 years. We do not include in "backlog", the value of any expected but unsigned change orders that management considers may apply to such contracts.

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