BOCA RATON, Fla., May 26, 2023 /PRNewswire/ -- MiX Telematics
(NYSE: MIXT) (JSE: MIX), a leading global SaaS provider of
connected fleet and asset management solutions announced yesterday
that the business has accumulated more than one million active
subscribers across their combined fleet and consumer customer
base.
This significant milestone comes on the back of continued
subscriber growth throughout the financial year ending 31 March
2023.
"Closing out the fiscal year, we are exceptionally proud to have
surpassed this significant milestone. We also expanded our adjusted
EBITDA margin to 25% and continue to generate strong, positive free
cash flow," said CEO Stefan
Joselowitz.
MiX Telematics has customers in more than 120 countries globally
and provides consumers and commercial fleets of all sizes with
solutions for efficiency, safety, compliance, security and
sustainability. Total revenue for the year was $145 million,
up 10% year-over-year at constant currency. Recurring revenue made
up 87% of that.
Joselowitz added: "As we move into fiscal year 2024, despite
general uncertainties in the macro-economic environment, we remain
confident that we have what it takes to maintain our balanced
approach to growth while also delivering strong cash flow and
profitability. I would like to take this opportunity to sincerely
thank our teams across the globe for their commitment to delivering
great products and services to our customers. Everyone has worked
extremely hard to achieve this milestone and deliver this strong
set of results," he concludes.
About MiX Telematics
MiX Telematics is a leading global provider
of fleet and mobile asset management solutions delivered
as SaaS to 1 million global subscribers spanning more than 120
countries. The company's products and services
provide enterprise fleets, small fleets and consumers with
solutions for efficiency, safety, compliance and security. For more
information, visit www.mixtelematics.com.
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