MiX Telematics (MIXT) Tops Q4 EPS by 4c, Revenues Beat

MiX Telematics (NYSE: MIXT) reported Q4 EPS of $0.12, $0.04 better than the analyst estimate of $0.08. Revenue for the quarter came in at $34.3 million versus the consensus estimate of $30.2 million.

Fourth Quarter Fiscal 2021:

• Subscription revenues of $30.8 million
• Net subscriber base of over 744,000 subscribers
• Net income of $2.8 million
• Adjusted EBITDA of $11.3 million, at a 32.9% margin
• Net cash provided by operating activities of $7.6 million leading to positive free cash flow of $5.2 million
• Cash and cash equivalents of $45.5 million at quarter end

“MiX’s fourth quarter performance demonstrated continued success against our key initiatives for fiscal 2021, particularly profitability and cash generation. We continued to see modest improvements in many of our key end markets and business metrics,” said Stefan Joselowitz, Chief Executive Officer of MiX Telematics.

Joselowitz continued, “We enter fiscal 2022 a stronger, more resilient company with a focus on returning the business to growth. We believe the strategic value we delivered to customers during challenging times and the investments we are making across the business position us well to meet our long-term financial targets.”

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 2022 fiscal year and the first quarter of fiscal 2022.

For earnings history and earnings-related data on MiX Telematics (MIXT) click here.

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