Fleetmatics’s 1Q 2014 Results

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2Q 2014 | IN-1019240


Vehicle Subscriptions: 427,000


Commercial telematics and mobile workforce solutions vendor Fleetmatics announced impressive 1Q financial results, posting revenues of US$51.9 million, a 35% year-over-year increase, along with healthy profitability (EBITDA of US$13.8 million, up 25% year-over-year, operating cash flow of US$20.3 million, and free cash flow of US$11.7 million). Full-year 2014 total revenue guidance is put in the US$228.0 million to US$230.0 million range, which would result in a 29.1% year-over-year increase.

However, the most remarkable metric is the number of active vehicles under subscription, now having reached 472,000, a 32.6% year-over-year increase from 356,000 at the end of 1Q 2013. This propels Fleetmatics to the very top of the fleet management league, at least in terms of vehicle market share. Fleetmatics serves 23,000 fleets/customers, representing an average of 20 vehicles/employees per customer.

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