Fleetmatics, a leading global provider of mobile workforce solutions for service-based businesses delivered as software-as-a-service (SaaS), has announced its Q4 and full year 2015 earnings results. A strong growth in both revenue and earnings is reported, resulting in Q4 revenue of $77.2 million, up 21% year-over-year.
Some Q4 highlights:
· Total revenue for the fourth quarter of 2015 was $77.2 million, an increase of 21% compared to $64.0 million for the fourth quarter of 2014.
· Fleetmatics ended the fourth quarter of 2015 with approximately 709,000 active vehicles
· Adjusted EBITDA of $29.0 million, or 37.5% of total revenue
· Cash flow from operations of $22.5 million
Full Year 2015 Financial Highlights:
· Total revenue for the full year of 2015 was $284.8 million, an increase of 23% compared to $231.6 million for the full year of 2014
· Adjusted EBITDA for the full year of 2015 was $96.2 million, an increase of 30% compared to $73.9 million for the full year of 2014
· The Company generated free cash flow of $45.2 million in 2015, compared to $30.9 million in 2014
The results demonstrate Fleetmatics’ further extension of its market-leading position and highlight the continued demand for the company’s product offerings as Fleetmatics continues to grow faster than the overall market.