Q-Free: Third quarter and first 9 months 2023 financial results

(Trondheim, 27 October 2023) Q-Free ASA (Q-Free, OSE: QFR) reported total revenues for the second quarter of 2023 of NOK 305 million, up 42% from the same quarter last year, and an EBITDA of NOK 25 million.

“Q-Free delivered another solid quarter with a significant y/y increase in revenue and EBITDA. There is continuously a lot of activity in the intelligent transport systems market as the technology we deliver is identified as being key to solve an urgent and unmet worldwide need for free-flowing, clean, and safe transportation,” says Trond Christensen, CEO of Q-Free.

The order intake for the third quarter of 2023 ended at NOK 277 million (316), contributing to a backlog of almost NOK 1.4 billion. The EBITDA in the third quarter ended at NOK 25 million (15), or an 8% margin, following revenues of NOK 305 million (215). The EBIT was NOK 11 million (3) and the cashflow from operations amounted to NOK 60 million in the period.

Q-Free will host a webcast on 27 October to present the third quarter and first 9 months 2023 results. The presentation starts at 09:00 CET and can be followed live on: http://www.q

A recorded version will be available after the webcast has been concluded.

The report from the Board of Directors and the third quarter presentation are enclosed.

*ARR, EBITDA and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as part of the APM section of the third quarter 2023 financial report.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Rita Bøe Isaksen, Board Secretary in Q-Free ASA, on 27 October 2023 at 07:00 CET.

For further information, please contact:
Trond Christensen, CEO, +47 481 02 754

About Q-Free: Q-Free ASA (OSE: QFR) is a global innovator in intelligent transportation systems that improve traffic flow, road safety, and air quality. With an open, collaborative approach to tolling, traffic and active transportation management, Q-Free works with customers and partners on every continent to digitize infrastructure and overcome modern mobility challenges for the greater good of society. Headquartered in Trondheim, Norway, Q-Free has annual revenues of approximately 1 billion NOK and employs approximately 370 transportation innovators, experts, and enthusiasts. To learn more about how Q -Free is “changing the movements of life”, visit or Twitter:@Q -FreeASA