Mix Telematics reports strong second quarter
Mix Telematics, a provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS), on Thursday announced financial results for its second quarter and first half of fiscal 2018.
Subscription revenue for the three months ended September 30, 2017, was R349.3 million ($25.8 million), an increase of 15.9% compared to R301.3 million ($22.2 million) for the second quarter of fiscal 2017.
Subscription revenue benefited from an increase of over 55,000 subscribers, representing an increase in the subscriber base of 9.4% from September 2016 to September 2017, and an expansion in the average revenue per user.
Total revenue was R411.2 million ($30.3 million), an increase of 11.7% compared to R368.2 million ($27.1 million) for the second quarter of fiscal 2017.
Operating profit was R45.3 million ($3.3 million), compared to R26.2 million ($1.9 million) for the second quarter of fiscal 2017, while earnings per diluted ordinary share were 4 cents per share.
Subscription revenue for the first half of fiscal 2018 meanwhile, increased to R684.6 million ($50.5 million), an increase of 12.7% compared to R607.5 million ($44.8 million) for the first half of fiscal 2017.
Total revenue for the first half of fiscal 2018 was R816.8 million ($60.2 million), an increase of 9.3% compared to R747.3 million ($55.1 million) for the first half of fiscal 2017. Hardware and other revenue was R132.2 million ($9.7 million), compared to R139.7 million ($10.3 million) for the first half of fiscal 2017.
Operating profit for the first half of fiscal 2018 was R88.2 million ($6.5 million), compared to R49.1 million ($3.6 million) posted in the first half of fiscal 2017.
Earnings per diluted ordinary share were 10 cents per share, compared to 8 cents in the first half of fiscal 2017.
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