EROAD is reporting 5.1% growth in its latest third quarter results.
The transport technology services company added 4,375 total contracted units in its combined Australia, New Zealand and North America markets for three months ending December 31, 2018.
Its total number of contracted units to the period is 90,615 for total annual growth of 20.3%.
Australia and New Zealand was up 5% for the period with 3271 units added. North America was up 5.3% for the period with 1104 units added.
Delivery of units to large enterprise transport operators in the second quarter helped keep solid growth, the company says.
The third quarter is a slower period for small enterprise customers due to the holiday season causing some movement in unit sales into the fourth quarter.
EROAD is set on tackling the Australian market with the recent recruitment of a small sales team. However, any significant market impact is not expected until beyond the FY19 period due to time between the launch period and product installation.
The North American unit growth has also been below expectations for the company.
EROAD is planning a new strategy for the North American market following the electronic logging device mandate.
“An improvement in monthly run rate is expected in the coming quarters,” the company says.
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