Transportation software developer E-Road reports half-year profit of $ 1 million

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Transportation software developer E-Road is back in the dark as it weathered the pandemic slowdown thanks to increased sales of its units and increased revenues for existing subscribers.

E-Road offers devices and software used by transport companies to track driving hours, maintenance, health and safety issues. Image file.
Photo: Hadrien – ifeelstock

The company reported a profit of $ 1 million for the six-month period ended September, down from a loss of $ 100,000 the year before.

E-Road offers devices and software used by transport companies to track driving hours, maintenance, health and safety issues.

Chief Executive Steven Newman said the company has weathered the pandemic in good shape so far and is looking for greater growth as businesses return to normal and put more effort into using technology in their operations.

“It’s the incredible resilience of our business model in the sense that we are a subscription-based business and most of our customers sign up for a 36 month basis so additional units are being added. [by them] are additional income, ”Newman said.

Revenue rose 19% to almost $ 46 million, with more than half coming from New Zealand and most of the rest of the United States.

The company raised $ 53 million in a September share issue to bolster its finances and develop new products, including a dashboard camera app.

US growth was driven by demands from insurance companies, while in New Zealand the main demand was from trucking companies wishing to manage health and safety requirements as well as driver training and behavior. , Newman said.

He said growth is expected to accelerate in the second half of the year and improve further in the coming year as more companies turn to digital services to improve performance and cost management. .


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