Transport technology services company EROAD today released its quarterly update on unit sales numbers showing strong growth for the quarter and half year ended September 2017.
Quarter to 30 September 2017
Total Contracted Units*
Total at Jun-17: 52,452
Total at Sep-17: 59,538
Units added in Quarter: 7,086
% growth in Quarter: 13.5%
Established Market (Australia/New Zealand)
Total at Jun-17: 45,029
Total at Sep-17: 49,802
Units added in Quarter: 4,773
% growth in Quarter: 10.6%
Commercial Market (US)
Total at Jun-17: 7,423
Total at Sep-17: 9,736
Units added in Quarter: 2,313
% growth in Quarter: 31.1%
Half Year to 30 September 2017
Total Contracted Units*
Total at Mar-17: 48,041
Total at Sep-17: 59,538
Units added in 6 months: 11,497
% growth 6 months: 23.9%
% growth Annualised: 47.8%
Established Market (Australia/New Zealand)
Total at Mar-17: 41,939
Total at Sep-17: 49,802
Units added in 6 months: 7,863
% growth 6 months: 18.7%
% growth Annualised: 37.4%
Commercial Market (US)
Total at Mar-17: 6,102
Total at Sep-17: 9,736
Units added in 6 months: 3,634
% growth 6 months: 59.6%
% growth Annualised: 119.1%
*Total Contracted Units is a non GAAP-measure used by EROAD which represents the total units subject to a customer contract and includes both Units on Depot and units pending installment.
Total Contracted Units growth in the quarter of 7,086 units (61% up on EROAD’s previous quarterly record of 4,411) represents the single biggest growth in units for a quarter in EROAD’s history. The unit sales results were records in all markets.
EROAD expects to reach the following milestones in the next week:
- Over 50,000 units in the Australia/New Zealand (ANZ) market
- Over 10,000 units in the US market; and
- Over 60,000 units in all markets.
Unit sales in the Established Market (ANZ) grew by 10.6% for the quarter or 4,773 units. This represents a 54% increase on EROAD’s previous record quarter’s sales of 3,090.
The Commercial Market (US) grew by 2,313 for the quarter, approximately 1,000 units more than the previous quarter and 712 units more than the entire sales (1,601 units) for the previous financial year. Unit sales have increased each month since the beginning of the financial year and reflect building momentum in the ELD (electronic logging device) market.
Expectations for Q3 Sales results
We expect that the traditional Christmas/New Year break in the ANZ market will lead to a slowdown in unit sales from the Q2 record levels. However, we expect the US market to continue to reflect the demand for ELD solutions for the market adoption deadline of 18 December 2017.