EROAD reports 8% revenue increase, positive cash flow

Transportation technology services company, EROAD, has reported a 8% increase in revenue for the six months ended September 30, 2024.

Revenue reached $95.9 million, up from $88.9m in the same period last year.

The company's annualised recurring revenue also increased by 5% to $177.9m.

EROAD achieved positive free cash flow of $100,000, compared to negative free cash flow of $200,000 in the previous year.

The company's ebit rose to $2.4m, from $100,000.

EROAD's customer retention rate for contracted units remained high at 92.8%.

The company said it remains on track to meet its full-year financial guidance.