MiX Telematics reported year-over-year increases in total revenue, subscribers, subscription revenue and other financial metrics for its fiscal 2019 second quarter, which ended on Sept. 30.
Total revenue was $35.1 million, up 21 percent from $29.1 million in fiscal second-quarter 2018.
Second-quarter subscription revenue was up 18.5 percent on a constant-currency basis, according to the company. The Midrand, South Africa-based software-as-a-solution provider added 73,800 net subscribers from October 2017 to September 2018.
“MiX reported a very strong second quarter, highlighted by our ability to exceed expectations across all key operating metrics,” CEO Stefan Joselowitz said. “Our over 18 percent year-over-year subscription revenue growth was broad-based, driven by uptake from our premium fleet customers globally. Additionally, this is the ninth consecutive quarter of year-over-year adjusted EBITDA margin improvement, reaching over 30 percent. MiX remains well-positioned to maintain the momentum for the second half of fiscal 2019 and beyond given the strong and growing pipeline of opportunities worldwide.”
For the first half of its fiscal year 2019, which ended Sept. 30, year-over-year subscription revenue jumped 18.4 percent to $57.3 million. Total revenue for the same period increased 17 percent to $67.4 million.