Strong Free Cash Flow
Free cash flow was $6.2 million or $17 million on a normalized basis, highlighting the company's operational discipline and cash generation capabilities.
Increased Annualized Recurring Revenue
Annualized recurring revenue increased to over $178 million, up 6.9% overall and 3% in constant currency, driven by higher-value subscriptions and enterprise expansion.
Significant Australian Market Growth
Australia showed strong performance with a 30% increase in annualized recurring revenue, driven by enterprise expansion and high adoption of safety and compliance products.
New Zealand eRUC Opportunity
EROAD is well-positioned to capitalize on New Zealand's transition to universal electronic road user charging, with significant long-term global opportunities.
Cleanaway Enterprise Agreement
The new enterprise agreement with Cleanaway is valued at $5 million ARR, covering a national fleet of more than 3,000 heavy vehicles in Australia.