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EROAD Limited — Interim / Quarterly Report 2022
Jul 13, 2021
66188_rns_2021-07-14_4c1533f6-34ae-402a-bd7d-136cb74599d1.pdf
Interim / Quarterly Report
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Market Release
Quarterly Operational Update
14 July 2021
Transportation technology services company EROAD (NZX/ASX: ERD) today released its quarterly update for the three months ended 30 June 2021. EROAD sold 4,152 contracted units reflecting accelerating quarterly growth across all markets.
EROAD’s Key Operating Metrics as at 30 June 2021 are as follows:
| Total at 31 March 2021 |
Total at 30 June 2021 |
Added in quarter | |
|---|---|---|---|
| Contracted Units* | 126,203 | 130,355 | 4,152 |
| New Zealand | 87,892 | 90,747 | 2,855 |
| North America | 35,437 | 35,827 | 390 |
| Australia | 2,874 | 3,781 | 907 |
| Clarity Dashcam | 1,054 | 2,984 | 1,930 |
| New Zealand | 34 | 411 | 377 |
| North America | 1,020 | 2,552 | 1,532 |
| Australia | - | 21 | 21 |
*Total Contracted units is a non-GAAP measure used by EROAD which represents the total units subject to customer contract and includes both Units on Depot and units pending instalment.
Contracted units grew by 4,152 in Q1 FY22 reflecting good growth in New Zealand and Australia. Unit growth in North America remains slow, however there are signs the economy is opening up. Reflecting this, EROAD currently has two enterprise customer prospects in pilot for its Ehubo delivered services (approx. 1,500 units) as well as a solid mix of mid-market pilots either launched or beginning soon. There are also further pilots for Clarity Dashcam with existing and new customers.
In New Zealand, 216 customers (representing 7,845 units) renewed their contract. Overall, Group Asset Retention remains high at 95.5% for 30 June 2021. However, following its acquisition, a North America enterprise customer (c. 1,700 units) has given notice it will deinstall EROAD units in H1 FY22 to align its technology with that of its acquirer.
EROAD continues to make good progress with selling additional services during the quarter through EROAD Day Logbook (adding 425 driver subscriptions), Inspect (627 subscriptions added) and EROAD Where (1,580 tags added). Since entering the partnership with Philips Connect on 2 June, EROAD has sold 322 Philips Connect Solutions.
TEL +64 9 927 4700 FAX +64 9 927 4701 FREE 0800 4-EROAD
PO Box 305 394 Triton Plaza, North Shore 0757 Auckland, New Zealand
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Ends
Authorised for release to the NZX and ASX by EROAD’s Board of Directors.
| For Investor enquires please contact: Anna Bonney Investor Relations +64 21844155 [email protected] |
For Media enquiries please contact: Thrive pr + communications: Australia: Christy LaPlante - +61 439 246 489 New Zealand Helena Nuich - +64 21 143 9273 [email protected] |
|---|---|
About EROAD
EROAD Limited (ASX: ERD; NZX: ERD) (“EROAD”) purpose is safer and more sustainable roads. EROAD develops and markets technology solutions to manage vehicle fleets, support regulatory compliance, improve driver safety and reduce the costs associated with operating a fleet of vehicles and inventory of assets. EROAD has a proven SaaS business model and is experiencing continuing growth in installed units and revenue. EROAD has operations in New Zealand, North America and Australia with customers ranging in size from small fleets through to large enterprise customers. For more information visit https://www.eroadglobal.com/investor
eroad.co.nz
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