MiX Telematics Touts Ninth Consecutive Quarter of Margin Growth

MiX Telematics (NYSE: MIXT, JSE:MIX), a leader of fleet and mobile asset management solutions,  announced financial results for its second quarter and first half of fiscal 2019, which showed that 

The company reported the addition of over 22,000 net subscribers during the second quarter, taking the total, global subscriber base to over 714,000.

Subscription revenue grew over 18% year over year and adjusted EBITDA margin reached over 30% in the quarter. This was the ninth consecutive quarter of year over year adjusted EBITDA margin improvement, a key objective for the group.

“MiX reported a very strong quarter, highlighted by our ability to exceed expectations across all key operating metrics.” said Stefan Joselowitz, Chief Executive Officer of MiX Telematics. “We remain well positioned to maintain this momentum for the second half of fiscal 2019 and beyond given the strong and growing pipeline of opportunities worldwide.”

 

Category: Connected Fleet News, General Update, News