MiX Telematics Limited's Q3 Net Subscriber Additions of 52,400 Brought the Total Base to over 1,142,000 Subscribers
Portfolio Pulse from Benzinga Newsdesk
MiX Telematics Limited reported Q3 results with net subscriber additions of 52,400, total revenue of $39.1 million (up 6% YoY), subscription revenue of $33.7 million (up 6% YoY), net income of $1.5 million, and adjusted EBITDA of $9.5 million (up 13% YoY). The company's total subscriber base now exceeds 1,142,000, and it ended the quarter with $25.4 million in cash and cash equivalents.
February 01, 2024 | 11:10 am
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POSITIVE IMPACT
MiX Telematics reported strong Q3 earnings with significant subscriber growth, revenue increase, and improved adjusted EBITDA. The company's total subscriber base now exceeds 1,142,000.
The positive Q3 earnings report from MiX Telematics, showcasing growth in subscribers, revenue, and adjusted EBITDA, is likely to instill confidence in investors and could lead to a short-term uptick in the stock price. The significant increase in subscribers and revenue growth are key indicators of the company's strong performance and potential for future growth.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100