EROAD (ERDLF) has released an update.
EROAD Limited, a tech firm in the transportation sector, has reported a significant financial turnaround with a positive free cash flow of $1.3m in FY24, contrasting sharply with the previous year’s $29.9m deficit. Revenue surged by 10.1% to $182.0m, driven by unit growth, pricing adjustments, and stringent cost control, with particularly robust performance in recurring revenue and enterprise customer retention. Looking ahead, EROAD is confident in its strategy and targets further growth with an FY25 revenue forecast of $190m to $195m and an EBIT of $5m to $10m.
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