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EROAD Limited (ERD) investor relations material
EROAD Limited H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary20 Nov, 2025
Executive summary
Revenue for H1 FY26 was $99.1 million, up 3.3% year-over-year, with ARR rising 6.9% to $178.1 million and normalized free cash flow at $16.7 million after excluding one-off 4G upgrade costs.
A $134.7 million impairment in North America, due to competitive pressures, economic conditions, and a major customer non-renewal, resulted in a significant net loss.
Liquidity remains strong at over $62 million, supporting investment flexibility and disciplined cost management.
Strategic focus is shifting toward Australia and New Zealand, leveraging regulatory changes in NZ to expand eRUC services and drive future growth.
Financial highlights
Normalized EBIT was $2.5 million, while reported EBIT was -$133.9 million due to the North American impairment.
EBITDA was $28.7 million, down $0.5 million year-over-year, reflecting higher platform and recruitment costs.
Free cash flow was $6.2 million, or $16.7 million when normalized for the 4G upgrade program.
Operating costs rose due to higher SaaS costs, recruitment, and lower R&D capitalization.
Cash from operations increased to $25.7 million, up $8.4 million from the prior year.
Outlook and guidance
FY26 guidance reaffirmed: revenue of $197–$203 million, ARR of $175–$183 million, and normalized free cash flow margin of 5–8%.
Growth investment prioritized in Australia and New Zealand, with slower growth anticipated in North America.
Investor Day planned for March to detail product roadmap and long-term targets.
North America operational strategy post-impairment
NZ universal eRUC: details on light vehicle pilot
Update on October 2026 debt refinancing plans
How does NZ eRUC prove global capability?
North America: What is the path to growth?
How does Manila office improve operating leverage?
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Next EROAD Limited earnings date
H2 202625 May, 2026
Next EROAD Limited earnings date
H2 202625 May, 2026
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Frequently asked questions
EROAD Limited is a New Zealand-based technology company that provides fleet management, telematics, and compliance solutions for commercial vehicles. The company offers a range of products and services focused on vehicle tracking, driver behavior monitoring, fuel management, and regulatory compliance, primarily for industries such as transportation, logistics, and construction. EROAD’s solutions use GPS and wireless technology to deliver data-driven insights, helping businesses improve fleet efficiency, safety, and operational transparency. The company is headquartered in Auckland, New Zealand, and its shares are listed on the NZX.
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