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MiX Telematics Ltd

mixtelematics.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2023 10-Q, filed Feb 9, 2024. Its latest SEC filing is a 15-12G from Apr 5, 2024.

The sections below describe the company as of the FY2023 annual report.

What Did They Do?

Provides fleet and mobile-asset management software, vehicle tracking and safety services to fleet operators and consumers.

How Did They Make Money?

Customers pay mainly for fleet and mobile-asset subscriptions that include software access, connectivity and often an in-vehicle device; subscription fees cover the service term, with corporate customers typically paying after service and consumers in advance. The company also earns from device sales at delivery and installation when the work is complete.

FY2023 revenue

Who Were Their Customers?

Regional sales offices sell directly to large and small fleet operators, and South African offices also sell directly to consumers; distributors and value-added resellers reach customers in other markets.

Did Revenues Turn Into Profits?

Yes. It kept 3 cents of every revenue dollar as net income in FY2023.

Operating income, FY2023
8% of revenue
▼ −20% vs FY2022 ($14.4M, 10%)
Net income, FY2023
3% of revenue
▼ −49% vs FY2022 ($8.9M, 6%)

How Were They Changing?

Since the FY2023 annual report
Latest quarter: Q2 FY2023, the three months to Dec 31, 2023
Revenue
▲ +3%
vs $37.8M in Q2 FY2022
Net income
▼ −48%
vs $2.8M in Q2 FY2022
  • Mar 15, 2024 Powerfleet transaction cleared its remaining conditions The scheme became unconditional after required conditions were met or waived, and the South African Takeover Regulation Panel issued its compliance certificate.

Held flat. Revenue was $145M in FY2023, about the same as the $143.7M of FY2019.

AI-enabled video Earlier, the portfolio included in-vehicle video monitoring; the latest report also describes MiX Vision AI, an AI-enabled video telematics offering.

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