Eroad posts loss in half-year speedbump

Co-CEOs Mark Heine and David Kenneson outlined a renewed focus on winning enterprise-level customers with up- and cross-selling potential. (Image: Eroad)

Ben Moore

Mon, 25 Nov 2024

Eroad’s mid-year dip into net loss does not reflect the company’s overall growth, co-chief executive Mark Heine told BusinessDesk.The fleet monitoring technology company posted an $11 million loss for the six months to Sept 30, 2024, down from a net profit of $7.4m in the prior corresponding period.The dual NZX/ASX-listed company reported positive free cashflow of $100,000, compared with a prior period negative cashflow of $200,000.Revenue was up 8% to $95.9m, and earnings before interest taxes, depreciation and amortisation (ebitda...

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