Diluted HEPS decreased from -34cps to -43cps.
Revenue improved by 26.4% y-y to $363m, supported by 26.3% y-y growth in Services revenue.
The subscriber base expanded 4x to 2.8 million, largely due to the combination with Mix Telematics.
GPM decreased from 55.4% to 53.7%.
OPM weakened from -2.7% to -7.1%.
Expenses increased by 32.3% y-y to $220m, with expense-to-sales rising by 270bps to 60.8%.
No dividend.
Net cash declined by 13.1% y-y to $44m with cash from operating activities decreasing from $26m to -$3m.
Gross debt increased by 60.7% y-y to $193m.
