Third Quarter Highlights:

  • Subscription revenues of $29.1 million
  • Net subscriber base of over 749,000 subscribers
  • Net income of $5.9 million
  • Adjusted EBITDA of $9.5 million, at a 28.0% margin
  • Net cash provided by operating activities of $10.2 million leading to positive free cash flow of $8.7 million
  • Cash and cash equivalents of $44.0 million at quarter end

MIDRAND, South Africa & BOCA RATON, Fla.–(BUSINESS WIRE)–MiX Telematics Limited (“MiX Telematics”) (NYSE: MIXT, JSE: MIX), a leading global provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (“SaaS”), today announced financial results, in accordance with accounting principles generally accepted in the United States (“GAAP”), for the third quarter, which ended December 31, 2020.

“MiX Telematics reported third quarter results highlighted by sequential growth in subscription revenue and very strong profitability and free cash flow. We saw modestly improved performance in our premium and light fleet segments for the second straight quarter even as we continue to manage through the impact of COVID-19 on certain key vertical markets,” said Stefan Joselowitz, Chief Executive Officer of MiX Telematics.

Joselowitz continued, “As we look ahead, we are very encouraged by the strategic conversations we are having with large fleet operators on the greater role telematics will play in their future operations. This gives us confidence MiX is well positioned to return to attractive subscription revenue growth rates once the economy normalizes.”

Financial Results for the Three Months Ended December 31, 2020

Subscription Revenues: Subscription revenues were $29.1 million, a decrease of 10.2% compared to $32.4 million for the third quarter of fiscal 2020. Subscription revenues represented 85.2% of total revenues during the third quarter of fiscal 2021. Subscription revenues decreased by 7.3% on a constant currency basis, year over year. The decline in constant currency subscription revenue was primarily due to the contraction in the Company’s subscriber base as a result of economic conditions attributable to the COVID-19 pandemic. During the third quarter of fiscal 2021, the Company’s subscriber base contracted by a net 18,300 subscribers. The contraction is primarily attributable to our low ARPU asset tracking subscribers.

The majority of our revenues and subscription revenues are derived from currencies other than the U.S. Dollar. Accordingly, the strengthening of the U.S. Dollar against these currencies (in particular against the South African Rand) following currency volatility arising from the economic disruption caused by COVID-19, has negatively impacted our revenue and subscription revenues reported in U.S. Dollars. Compared to the third quarter of fiscal year 2020, the South African Rand weakened by 6% against the U.S. Dollar. The Rand/U.S. Dollar exchange rate averaged R15.65 in the third quarter of fiscal year 2021 compared to an average of R14.71 during the third quarter of fiscal year 2020. The impact of translating foreign currencies to U.S. Dollars at the average exchange rates during the third quarter of fiscal 2021 led to a 2.9% reduction in reported U.S. Dollar subscription revenues.

Total Revenues: Total revenues were $34.1 million, a decrease of 6.5% compared to $36.5 million for the third quarter of fiscal 2020. Total revenues decreased by 3.6% on a constant currency basis, year over year. Hardware and other revenues were $5.0 million, an increase of 22.5%, compared to $4.1 million for the third quarter of fiscal 2020.

The impact of translating foreign currencies to U.S. Dollars at the average exchange rates during the third quarter of fiscal 2021 led to a 2.9% reduction in reported U.S. Dollar revenues.

Gross Margin: Gross profit was $21.3 million, compared to $23.5 million for the third quarter of fiscal 2020. Gross profit margin was 62.5%, compared to 64.6% for the third quarter of fiscal 2020.

Income From Operations: Income from operations was $5.0 million, compared to $5.2 million for the third quarter of fiscal 2020. Operating income margin was 14.8%, compared to 14.2% for the third quarter of fiscal 2020. Operating expenses of $16.3 million decreased by $2.1 million, or 11.5%, compared to the third quarter of fiscal 2020.

Net Income and Earnings Per Share: Net income was $5.9 million, compared to net income of $5.1 million in the third quarter of fiscal 2020. Net income included a net foreign exchange loss of $0.1 million before tax, as well as a $2.7 million deferred tax credit on a U.S. Dollar intercompany loan between MiX Telematics and MiX Telematics Investments Proprietary Limited (“MiX Investments”), a wholly-owned subsidiary of the Company. During the third quarter of fiscal 2020, net income included a net foreign exchange loss of $0.2 million and a $1.5 million deferred tax credit on a U.S. Dollar intercompany loan between MiX Telematics and MiX Investments.

Earnings per diluted ordinary share was 1.1 U.S. cents, compared to 0.9 U.S. cents in the third quarter of fiscal 2020. For the third quarter of fiscal 2021, the calculation was based on diluted weighted average ordinary shares in issue of 559.8 million compared to 562.4 million diluted weighted average ordinary shares in issue during the third quarter of fiscal 2020. On a ratio of 25 ordinary shares to one American Depositary Share (“ADS”), earnings per diluted ADS was 26 U.S. cents compared to 23 U.S. cents in the third quarter of fiscal 2020.

The Company’s effective tax rate was negative 18.7%, compared to negative 2.4% in the third quarter of fiscal 2020. Ignoring the impact of net foreign exchange losses net of tax, the tax rate used in determining non-GAAP net income below was 34.3% compared to 25.9% in the third quarter of fiscal 2020.

Adjusted EBITDA: Adjusted EBITDA, a non-GAAP measure, was $9.5 million, compared to $10.1 million for the third quarter of fiscal 2020. Adjusted EBITDA margin, a non-GAAP measure, for the third quarter of fiscal 2021 was 28.0%, compared to 27.8% for the third quarter of fiscal 2020.

Non-GAAP Net Income and Non-GAAP Net Income Per Share: Non-GAAP net income was $3.4 million, compared to $3.8 million for the third quarter of fiscal 2020. Non-GAAP net income per diluted ordinary share was 0.6 U.S. cents, compared to 0.7 U.S. cents in the third quarter of fiscal 2020. At a ratio of 25 ordinary shares to one ADS, the non-GAAP net income per diluted ADS was 15 U.S. cents compared to 17 U.S. cents in the third quarter of fiscal 2020.

Cash and Cash Equivalents and Cash Flow: At December 31, 2020, the Company had $44.0 million of cash and cash equivalents, compared to $18.0 million at March 31, 2020.

Net cash provided by operating activities for the three months ended December 31, 2020 was $10.2 million compared to $7.3 million for the three months ended December 31, 2019. The Company invested $1.5 million in capital expenditures (including investments in in-vehicle devices of $0.4 million), leading to free cash flow, a non-GAAP measure, of $8.7 million in the quarter. The Company generated free cash flow of $1.3 million for the third quarter of fiscal 2020 when the Company invested $6.0 million in capital expenditures (including investments in in-vehicle devices of $4.5 million).

Net cash utilized by financing activities amounted to $1.7 million for the third quarter of fiscal 2021, compared to $0.2 million utilized during the third quarter of fiscal 2020. The cash utilized by financing activities during the third quarter of fiscal 2021 consisted of dividends paid of $1.4 million and $0.3 million from a reduction in facilities utilized. The cash utilized in financing activities during the third quarter of fiscal 2020 consisted of dividends paid of $1.5 million offset by facilities utilized of $1.3 million.

During the quarter, the South African Rand strengthened against the U.S. Dollar from R17.00 at September 30, 2020 to R14.65 at December 31, 2020 and as a result, cash increased by $3.1 million due to foreign exchange gains.

Quarterly Dividend

The most recent dividend payment of 4 South African cents (0.3 U.S. cents) per ordinary share and 1 South African Rand (7 U.S. cents) per ADS was paid on November 23, 2020 to shareholders on record on November 20, 2020. A dividend of 4 South African cents per ordinary share and 1 South African Rand per ADS will be paid on March 9, 2021 to shareholders on record as of the close of business on February 19, 2021.

The details with respect to the dividends declared for holders of our ADSs are as follows:

Ex dividend on New York Stock Exchange (NYSE)

     

Thursday, February 18, 2021

Record date

     

Friday, February 19, 2021

Approximate date of currency conversion

     

Monday, February 22, 2021

Approximate dividend payment date

     

Tuesday, March 9, 2021

Share Repurchases

No shares were repurchased during the three months ended December 31, 2020.

Business Outlook

Due to the uncertainty surrounding the level of business disruption as a result of the spread of COVID-19, the Company has suspended its practice of issuing financial guidance and as a consequence no guidance has been issued for the full 2021 fiscal year.

Conference Call Information

MiX Telematics management will host a conference call and audio webcast at 8:00 a.m. (Eastern Daylight Time) and 3:00 p.m. (South African Time) on Thursday, January 28, 2021 to discuss the Company’s financial results and current business outlook:

  • The live webcast of the call will be available at the “Investor Information” page of the Company’s website, http://investor.mixtelematics.com.
  • To access the call, dial +1-877-451-6152 (within the United States) or 0 800 983 831 (within South Africa) or +1-201-389-0879 (outside of the United States). The conference ID is 13715107.
  • A replay of this conference call will be available for a limited time at +1-844-512-2921 (within the United States) or +1-412-317-6671 (within South Africa or outside of the United States). The replay conference ID is 13715107.
  • A replay of the webcast will also be available for a limited time at http://investor.mixtelematics.com.

About MiX Telematics Limited

MiX Telematics is a leading global provider of fleet and mobile asset management solutions delivered as SaaS to customers managing over 749,000 assets in approximately 120 countries. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, efficiency, risk and security. MiX Telematics was founded in 1996 and has offices in South Africa, the United Kingdom, the United States, Uganda, Brazil, Australia, Romania, Thailand 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 MiX Telematics American Depositary Shares are listed on the New York Stock Exchange (NYSE: MIXT). For more information visit www.mixtelematics.com.

Forward-Looking Statements

This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding our position to execute on our growth strategy, and our ability to expand our leadership position. These forward-looking statements include, but are not limited to, Company’s beliefs, plans, goals, objectives, expectations, assumptions, estimates, intentions, future performance, other statements that are not historical facts and statements identified by words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates” or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in, or suggested by, these forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved.

Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of known and unknown risks and uncertainties, some of which are beyond our control including, without limitation:

  • the severity and duration of the COVID-19 pandemic, the pandemic’s economic impact on the geographical locations of our regional service organizations and central service organization, the impact of the pandemic on our customers’ ability to meet their financial obligations, our ability to implement cost containment and business recovery strategies during the pandemic, local and foreign government regulations implemented to combat the pandemic and any future developments on the pandemic;
  • our ability to attract, sell to and retain customers;
  • our ability to improve our growth strategies successfully, including our ability to increase sales to existing customers;
  • our ability to adapt to rapid technological change in our industry;
  • competition from industry consolidation;
  • loss of key personnel or our failure to attract, train and retain other highly qualified personnel;
  • our ability to integrate any businesses we acquire;
  • the introduction of new solutions and international expansion;
  • our dependence on key suppliers and vendors to manufacture our hardware;
  • our dependence on our network of dealers and distributors to sell our solutions;
  • businesses may not continue to adopt fleet management solutions;
  • our future business and system development, results of operations and financial condition;
  • expected changes in our profitability and certain cost or expense items as a percentage of our revenue;
  • changes in the practices of insurance companies;
  • the impact of laws and regulations relating to the Internet and data privacy;
  • our ability to protect our intellectual property and proprietary technologies and address any infringement claims;
  • our ability to defend ourselves from litigation or administrative proceedings relating to labor, regulatory, tax or similar issues;
  • significant disruption in service on, or security breaches of, our websites or computer systems;
  • our dependence on third-party technology;
  • fluctuations in the value of the South African Rand;
  • economic, social, political, labor and other conditions and developments in South Africa and globally;
  • our ability to issue securities and access the capital markets in the future; and
  • other risks set forth in our filings with the U.S. Securities Exchange Commission.

We assume no obligation to update any forward-looking statements contained in this press release and expressly disclaim any obligation to do so, whether as a result of new information, future events or otherwise, except as required by law.

Use of Non-GAAP Financial Measures

This press release and the accompanying tables include references to Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP net income and non-GAAP net income per share, free cash flow and constant currency, which are non-GAAP financial measures. For a description of these non-GAAP financial measures, including the reasons management uses these measures, please see Annexure A titled “Non-GAAP Financial Measures”. A reconciliation of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with GAAP is provided in Annexure A.

MIX TELEMATICS LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share amounts)

(Unaudited)

 

 

 

March 31,
2020

 

December 31,
2020

ASSETS

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

17,953

 

 

$

43,999

 

Restricted cash

 

699

 

 

780

 

Accounts receivables, net

 

24,100

 

 

19,483

 

Inventory, net

 

3,271

 

 

3,476

 

Prepaid expenses and other current assets

 

7,375

 

 

7,789

 

Total current assets

 

53,398

 

 

75,527

 

Property and equipment, net

 

30,019

 

 

26,514

 

Goodwill

 

37,923

 

 

44,388

 

Intangible assets, net

 

15,007

 

 

18,585

 

Deferred tax assets

 

3,108

 

 

3,992

 

Other assets

 

4,200

 

 

4,543

 

Total assets

 

$

143,655

 

 

$

173,549

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

Current liabilities:

 

 

 

 

Short-term debt

 

$

2,367

 

 

$

2,892

 

Accounts payables

 

5,251

 

 

4,511

 

Accrued expenses and other liabilities

 

14,839

 

 

21,517

 

Deferred revenue

 

5,077

 

 

7,670

 

Total current liabilities

 

27,534

 

 

36,590

 

Deferred tax liabilities

 

11,436

 

 

8,448

 

Long-term accrued expenses and other liabilities

 

5,660

 

 

5,389

 

Total liabilities

 

44,630

 

 

50,427

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

MiX Telematics Limited stockholders’ equity

 

 

 

 

Preferred stock: 100 million shares authorized but not issued

 

 

 

 

Common stock: 600.9 million and 605.1 million no-par value shares issued and outstanding as of March 31, 2020 and December 31, 2020, respectively

 

66,522

 

 

67,376

 

Less treasury stock at cost: 54 million shares as of March 31, 2020 and December 31, 2020

 

(17,315)

 

 

(17,315)

 

Retained earnings

 

67,482

 

 

75,381

 

Accumulated other comprehensive (loss)/income

 

(11,070)

 

 

3,314

 

Additional paid-in capital

 

(6,599)

 

 

(5,639)

 

Total MiX Telematics Limited stockholders’ equity

 

99,020

 

 

123,117

 

Non-controlling interest

 

5

 

 

5

 

Total stockholders’ equity

 

99,025

 

 

123,122

 

 

 

 

 

 

Total liabilities and stockholders’ equity

 

$

143,655

 

 

$

173,549

 

MIX TELEMATICS LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data)

(Unaudited)

 

 

Three Months Ended December 31,

 

Nine Months Ended December 31,

 

2019

 

2020

 

2019

 

2020

Revenue

 

 

 

 

 

 

 

Subscription

$

32,362

 

 

$

29,072

 

 

$

96,099

 

 

$

82,570

 

Hardware and other

4,107

 

 

5,032

 

 

13,314

 

 

9,979

 

Total revenue

36,469

 

 

34,104

 

 

109,413

 

 

92,549

 

Cost of revenue

 

 

 

 

 

 

 

Subscriptions

10,078

 

 

8,889

 

 

28,790

 

 

23,914

 

Hardware and other

2,842

 

 

3,915

 

 

8,803

 

 

7,765

 

Total cost of revenue

12,920

 

 

12,804

 

 

37,593

 

 

31,679

 

Gross profit

23,549

 

 

21,300

 

 

71,820

 

 

60,870

 

Operating expenses

 

 

 

 

 

 

 

Sales and marketing

3,481

 

 

2,882

 

 

10,210

 

 

8,075

 

Administration and other

14,895

 

 

13,384

 

 

44,297

 

 

40,506

 

Total operating expenses

18,376

 

 

16,266

 

 

54,507

 

 

48,581

 

Income from operations

5,173

 

 

5,034

 

 

17,313

 

 

12,289

 

Other (expense)/income

(178)

 

 

(95)

 

 

145

 

 

(270)

 

Net interest (expense)/income

(20)

 

 

58

 

 

57

 

 

(82)

 

Income before income tax expense

4,975

 

 

4,997

 

 

17,515

 

 

11,937

 

Income tax benefit/(expense)

119

 

 

936

 

 

(4,079)

 

 

(130)

 

Net income

5,094

 

 

5,933

 

 

13,436

 

 

11,807

 

Less: Net income attributable to non-controlling interest

 

 

 

 

 

 

 

Net income attributable to MiX Telematics Limited

$

5,094

 

 

$

5,933

 

 

$

13,436

 

 

$

11,807

 

 

 

 

 

 

 

 

 

Net income per ordinary share:

 

 

 

 

 

 

 

Basic

$

0.01

 

 

$

0.01

 

 

$

0.02

 

 

$

0.02

 

Diluted

$

0.01

 

 

$

0.01

 

 

$

0.02

 

 

$

0.02

 

 

 

 

 

 

 

 

 

Net income per American Depositary Share:

 

 

 

 

 

 

 

Basic

$

0.23

 

 

$

0.27

 

 

$

0.60

 

 

$

0.54

 

Diluted

$

0.23

 

 

$

0.26

 

 

$

0.59

 

 

$

0.53

 

 

 

 

 

 

 

 

 

Ordinary shares:

 

 

 

 

 

 

 

Weighted average

550,133

 

 

551,106

 

 

555,635

 

 

548,752

 

Diluted weighted average

562,412

 

 

559,845

 

 

570,531

 

 

559,172

 

 

 

 

 

 

 

 

 

American Depositary Shares:

 

 

 

 

 

 

 

Weighted average

22,005

 

 

22,044

 

 

22,225

 

 

21,950

 

Diluted weighted average

22,496

 

 

22,394

 

 

22,821

 

 

22,367

 

 

MIX TELEMATICS LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

 

 

Nine Months Ended December 31,

 

 

2019

 

2020

Cash flows from operating activities:

 

 

 

 

Cash generated from operations

 

$

24,858

 

 

 

$

33,156

 

 

Interest received

 

571

 

 

 

496

 

 

Interest paid

(173

)

 

 

(281

)

 

Income tax paid

 

(3,378

)

 

 

(2,437

)

 

Net cash provided by operating activities

 

21,878

 

 

 

30,934

 

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

Acquisition of property and equipment – in-vehicle devices

 

(12,955

)

 

 

(2,957

)

 

Acquisition of property and equipment – other

 

(629

)

 

 

(264

)

 

Proceeds from the sale of property and equipment

 

1,321

 

 

 

 

 

Acquisition of intangible assets

 

(4,010

)

 

 

(2,968

)

 

Loans to external parties

 

(349

)

 

 

 

 

Net cash used in investing activities

 

(16,622

)

 

 

(6,189

)

 

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

Proceeds from issuance of ordinary shares in relation to stock options exercised

 

 

 

 

854

 

 

Cash paid for ordinary shares repurchased

 

(8,188

)

 

 

 

 

Cash paid on dividends to MiX Telematics Limited stockholders

 

(4,615

)

 

 

(3,901

)

 

Movement in short-term debt

 

1,815

 

 

 

428

 

 

Net cash used in financing activities

 

(10,988

)

 

 

(2,619

)

 

 

 

 

 

 

Net (decrease)/increase in cash and cash equivalents, and restricted cash

 

(5,732

)

 

 

22,126

 

 

Cash and cash equivalents, and restricted cash at beginning of the period

 

27,838

 

 

 

18,652

 

 

Effect of exchange rate changes on cash and cash equivalents, and restricted cash

 

309

 

 

 

4,001

 

 

Cash and cash equivalents, and restricted cash at end of the period

 

$

22,415

 

 

 

$

44,779

 

 

Segment Information

Our operating segments are based on the geographical location of our Regional Sales Offices (“RSOs”) and also include our Central Services Organization (“CSO”). CSO is our central services organization that wholesales our products and services to our RSOs who, in turn, interface with our end-customers, distributors and dealers. CSO is also responsible for the development of our hardware and software platforms and provides common marketing, product management, technical and distribution support to each of our other operating segments.

Each RSO’s results reflect the external revenue earned, as well as its performance before the remaining CSO and corporate costs allocations. Segment performance is measured and evaluated by the chief operating decision maker (“CODM”) using Segment Adjusted EBITDA, which is a measure which uses net income, determined under International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board, as a starting point. Prior to the publication of the financial results for the year ended March 31, 2020, the Company published results under IFRS only, which is the reason for the CODM using a performance measure based on IFRS.

The segment information provided to the CODM is as follows (in thousands and unaudited):

 

Three Months Ended December 31, 2019

 

Subscription

Revenue

 

Hardware and

Other Revenue

 

Total Revenue

 

Segment Adjusted

EBITDA

Regional Sales Offices

 

 

 

 

 

 

 

Africa

$

17,936

 

 

$

1,247

 

 

$

19,183

 

 

$

8,578

 

Europe

3,010

 

 

885

 

 

3,895

 

 

1,513

 

Americas

5,573

 

 

448

 

 

6,021

 

 

2,422

 

Middle East and Australasia

4,460

 

 

1,399

 

 

5,859

 

 

2,703

 

Brazil

1,355

 

 

127

 

 

1,482

 

 

581

 

Total Regional Sales Offices

32,334

 

 

4,106

 

 

36,440

 

 

15,797

 

Central Services Organization

28

 

 

1

 

 

29

 

 

(2,709)

 

Total Segment Results

$

32,362

 

 

$

4,107

 

 

$

36,469

 

 

$

13,088

 

 

Three Months Ended December 31, 2020

 

Subscription

Revenue

 

Hardware and

Other Revenue

 

Total Revenue

 

Segment Adjusted

EBITDA

Regional Sales Offices

 

 

 

 

 

 

 

Africa

$

16,205

 

 

$

1,858

 

 

$

18,063

 

 

$

8,407

 

Europe

3,116

 

 

1,305

 

 

4,421

 

 

1,718

 

Americas

4,582

 

 

236

 

 

4,818

 

 

1,332

 

Middle East and Australasia

4,174

 

 

1,596

 

 

5,770

 

 

2,516

 

Brazil

978

 

 

27

 

 

1,005

 

 

347

 

Total Regional Sales Offices

29,055

 

 

5,022

 

 

34,077

 

 

14,320

 

Central Services Organization

17

 

 

10

 

 

27

 

 

(1,836)

 

Total Segment Results

$

29,072

 

 

$

5,032

 

 

$

34,104

 

 

$

12,484

 

 

Nine Months Ended December 31, 2019

 

Subscription

Revenue

 

Hardware and

Other Revenue

 

Total Revenue

 

Segment Adjusted

EBITDA

Regional Sales Offices

 

 

 

 

 

 

 

Africa

$

53,490

 

 

$

4,066

 

 

$

57,556

 

 

$

25,520

 

Europe

8,659

 

 

2,202

 

 

10,861

 

 

3,951

 

Americas

16,910

 

 

1,788

 

 

18,698

 

 

7,786

 

Middle East and Australasia

13,038

 

 

4,645

 

 

17,683

 

 

8,271

 

Brazil

3,922

 

 

574

 

 

4,496

 

 

1,875

 

Total Regional Sales Offices

96,019

 

 

13,275

 

 

109,294

 

 

47,403

 

Central Services Organization

80

 

 

39

 

 

119

 

 

(7,884)

 

Total Segment Results

$

96,099

 

 

$

13,314

 

 

$

109,413

 

 

$

39,519

 

Contacts

Investor Contact
Brian Denyeau

ICR for MiX Telematics

ir@mixtelematics.com
+1-855-564-9835

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