Global telematics leader continues to exceed expectations across all key operating metrics
BOCA RATON, Fla., Nov. 01, 2018 (GLOBE NEWSWIRE) -- MiX Telematics (NYSE: MIXT, JSE:MIX), a global leader of fleet and mobile asset management solutions, today announced financial results for its second quarter and first half of fiscal 2019, which ended on September 30, 2018.
Central to the continued growth trend is 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.”
“I’d like to thank our teams that have delivered these great results. There’s no doubt that our customers around the world are benefitting from our broad product portfolio and the great service we provide,” concludes Joselowitz.
About MiX Telematics
MiX Telematics is a leading global provider of fleet and mobile asset management solutions delivered as SaaS to more than 714,000 subscribers in over 120 countries. The company’s products and services provide enterprise fleets, small fleets and consumers with solutions for efficiency, safety, compliance and security. MiX Telematics was founded in 1996 and has offices in South Africa, the United Kingdom, the United States, Uganda, Brazil, Australia and the United Arab Emirates as well as a network of more than 130 fleet partners worldwide. MiX Telematics shares are publicly traded on the Johannesburg Stock Exchange (JSE: MIX) and on the New York Stock Exchange (NYSE: MIXT). For more information, visit www.mixtelematics.com
For further information:
Michelle Faulkner
+1 617-510-6998
michelle@big-swing.com