MiX Telematics Announces Impressive 4Q 2013 Results

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2Q 2014 | IN-1019419

Financial Highlights

NEWS


MiX Telematics, a leading provider of fleet and mobile asset management solutionsas SaaS to customers in more than 120 countries, announced impressive 4Q 2013 financial results. Total revenues reported were US$32.9 million, which represents an increase of 12.9% compared to US$29.1 million for 4Q 2013. In addition, it reported a 25% increase of subscription revenues, which was better than expected. MiX Telematics believes that the result was driven by a 25% year-over-year increase in vehicles under subscription, to 450,502. During 4Q 2013, the company continued to see a shift to bundled services (i.e., hardware and subscription) as opposed to buying hardware up front.

A Shift to Subscriptions Rather Than Stand-alone

IMPACT


MiX Telematics believes that this shift to bundled servic...

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