Welcome to our dedicated page for Mix Telematics news (Ticker: MIXT), a resource for investors and traders seeking the latest updates and insights on Mix Telematics stock.
Mix Telematics (MIXT) delivers cutting-edge fleet management and telematics solutions across six continents. This news hub provides investors and industry professionals with essential updates on corporate developments, technological innovations, and market positioning.
Access timely press releases covering earnings announcements, product enhancements, strategic partnerships, and compliance achievements. Our curated collection enables efficient tracking of operational milestones that impact fleet safety, asset optimization, and data-driven decision-making.
Key updates include regulatory changes affecting transportation technology, expansion into new markets, and advancements in real-time vehicle tracking systems. Regular monitoring of these developments helps stakeholders assess the company's competitive edge in mobile asset management.
Bookmark this page for direct access to verified MIXT announcements, eliminating the need to search multiple sources. Combine this resource with financial filings and market analysis for comprehensive investment research.
MiX Telematics (NYSE: MIXT) announced the addition of over 3,000 new subscribers in Latin America within the last two quarters. This growth includes partnerships with major companies in the bus and coach industry, notably in Goiania, Brazil, where a public transport company aims to cut fuel consumption using MiX's technology. Additionally, a large mining firm and a rental service are implementing MiX's telematics to enhance safety and reduce maintenance costs. The return of a major passenger transport group from a competitor underscores the company's strong customer service.
MiX Telematics reported a strong performance for Q3 fiscal 2023, with total revenue reaching $37.8 million, up 14% year-over-year. Subscription revenue also grew to $32.5 million, a 17% increase. The annual recurring revenue (ARR) stood at $131.8 million, reflecting a 17% rise. The company achieved net income of $2.8 million, a significant increase from $0.6 million last year. Adjusted EBITDA improved to $8.4 million, with a margin of 22.2%. The subscriber base expanded by 44,600, reaching over 959,000.
