Even during the tumultuous year that is 2020, EROAD has continued to grow. The New Zealand-based technology services provider posted revenue growth of 19% in the first half of fiscal 2021 year (ending Sept. 30), compared to 7% growth in the second half of fiscal year 2020 (ending June 30).
And it has not stopped innovating, recently announcing a new dashcam and video review product for the North American market.
EROAD said revenue increased to $32.1 million and contracted units grew by 5,705.
“EROAD delivered a 19% increase in revenue and 29% improvement in EBITDA period-on-period. In a period of extreme uncertainty and operating restrictions across our markets, the continued growth in contracted units, stable SaaS average revenue per unit and asset retention rate is reflective of EROAD’s strong customer value proposition,” CEO Steven Newman said.
The new Clarity Dashcam is integrated with the EROAD fleet management system. Video clips are available for review in the new MyEROAD Replay video review center.
“We are proud to be continuing the journey to safer roads with the launch of the EROAD Clarity Dashcam,” Newman said. “We look forward to seeing the next set of results that our customers achieve in reducing accidents on our roads and the gains they achieve by reducing insurance claims and repair costs by improving driver safety.”
Video clips from the Clarity Dashcam are displayed with speed graphs and safety event data. The clip is recorded beginning 10 seconds before and ending 10 seconds after a triggering event. Driver intervention is not necessary. The camera activates when the truck ignition switch is turned to the on position.
Triggering events include speeding, sudden braking, swerving or a collision. The video clip is automatically sent to the MyEROAD platform. A driver can manually send a clip by pressing a button on the dash.
Safety managers can review clips as well as pull video from previous clips, which are stored in the system.
“EROAD is proud to add a high-quality, easy-to-use dashcam solution to the EROAD suite of solutions,” Norm Ellis, president of EROAD North America, said. “Video of drivers’ actions behind the wheel is critical for coaching, for understanding safety events and accidents and for helping fleets protect their drivers and their businesses in case of an accident.”
The Clarity camera can be used in front-facing or dual front/driver-facing mode. Video is captured in high-definition video.
The camera offering is part of EROAD’s expansion efforts in North America. In its earnings report, the company said it saw increased opportunity in North America “through improved product market fit.”
Revenue in the first half of fiscal 2021 for North America increased by $1.8 million to $9.7 million, but the company added only 1,292 new units to its market share.
In September, EROAD introduced EROAD Go, a platform for simplifying dispatch and truck management. EROAD Go connects to a truck fleet’s transportation management system to help dispatchers make better load assignments, get real-time updates on load position and reduce paperwork in the dispatch process. For drivers, the EROAD Go mobile app provides a route plan with stop details. An integrated truck-friendly routing and navigation app is available as an upgrade. As drivers complete their stops, they capture and transmit proof of delivery from their mobile devices so data is available immediately for updating customers and enabling faster billing and settlements.
“The launch of EROAD Go and EROAD Clarity Dashcam are considered critical steps in further expanding the North America addressable market and being able to win more medium and enterprise customers,” the company noted in its earnings.
In a separate release, EROAD announced the appointment of Tim Hogan as chief technology officer. Hogan has held leadership positions with Warner Bros. and TiVo. He was most recently chief innovation officer for Webedia Entertainment.
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