<p>EROAD Limited ((ERDLF)) 举行了第二季度财报电话会议。以下是会议的主要亮点。</p>
<h3>TipRanks 黑色星期五促销</h3>
<ul>
<li>享受 TipRanks Premium 60% 的折扣，获取您投资所需的数据支持洞察和研究工具。</li>
<li>订阅 TipRanks 的智能投资者精选，通过我们高表现的模型投资组合查看我们的数据 - 现在也享受 60% 的折扣</li>
</ul>
<p>EROAD Limited 最近的财报电话会议展示了混合的业绩，公司展现了强劲的自由现金流和在澳大利亚和新西兰的良好增长。然而，这些积极因素被北美的重大挑战所抵消，包括资产减值和客户不续约。公司在新西兰的 eRUC 机会的战略重点提供了潜在的长期全球扩展路径，但北美的障碍仍然令人担忧。</p>
<h2>强劲的自由现金流</h2>
<p>EROAD 展现了强大的运营纪律，自由现金流为 620 万美元，或在正常化基础上为 1700 万美元。这突显了公司在现金生成方面的能力，支撑了其财务稳定性和运营效率。</p>
<h2>年化经常性收入增加</h2>
<p>公司报告年化经常性收入超过 1.78 亿美元，整体增长 6.9%，以固定汇率计算增长 3%。这一增长得益于高价值订阅和企业扩展，反映了 EROAD 成功的市场渗透策略。</p>
<h2>澳大利亚市场显著增长</h2>
<p>澳大利亚成为 EROAD 的强劲表现市场，年化经常性收入增长 30%。这一增长得益于企业扩展和安全合规产品的高采用率，凸显了该地区的战略重要性。</p>
<h2>新西兰 eRUC 机会</h2>
<p>EROAD 在新西兰的普遍电子道路用户收费（eRUC）转型中处于战略位置，提供了显著的长期全球机会。该倡议可能推动公司的未来增长和扩展。</p>
<h2>Cleanaway 企业协议</h2>
<p>与 Cleanaway 签署的新企业协议，年化经常性收入为 500 万美元，涵盖了澳大利亚超过 3000 辆重型车辆的全国车队。该协议突显了 EROAD 获取重大合同的能力，增强了其收入基础。</p>
<h2>北美业绩挑战</h2>
<p>北美面临重大挑战，收入下降 1.5%，年化经常性收入减少近 6%。这些挫折归因于经济条件放缓、竞争加剧以及一大美国客户的不续约。</p>
<h2>北美资产减值</h2>
<p>公司在北美记录了 1.35 亿美元的商誉和其他资产减值，原因是经济条件疲软和竞争加剧。这一减值反映了 EROAD 在该市场面临的持续挑战。</p>
<h2>运营成本和研发资本化</h2>
<p>运营成本占收入的 71%，研发资本化的减少影响了正常化的 EBIT，从上一个时期的 470 万美元降至 250 万美元。这表明需要进行战略成本管理。</p>
<h2>美国客户不续约的影响</h2>
<p>一大美国客户的不续约，涉及约 1 万个连接，显著影响了北美的年化经常性收入和未来增长前景，突显了在竞争市场中留住关键客户的挑战。</p>
<h2>前瞻性指导</h2>
<p>EROAD 对 2026 财年的指导保持乐观，预计收入在 1.97 亿至 2.03 亿美元之间，年化经常性收入在 1.75 亿至 1.83 亿美元之间。公司预计自由现金流收益率为收入的 5% 至 8%，已调整 4G 升级成本。战略重点将继续放在澳大利亚和新西兰，因北美经济条件较软而谨慎投资。新西兰的 eRUC 机会预计将提供显著的长期潜力。</p>
<p>总之，EROAD Limited 的财报电话会议突显了混合的业绩，在某些地区强劲增长的同时，其他地区面临挑战。公司在澳大利亚和新西兰的战略举措，特别是 eRUC 机会，为未来增长提供了有希望的途径。然而，北美的障碍，包括减值和客户不续约，仍然是公司必须解决的重大挑战。</p>

<p>EROAD Limited 第二季度的财报电话会议显示出混合的结果，澳大利亚和新西兰的自由现金流强劲且增长良好，但由于减值和客户不续约，北美面临挑战。公司报告了年化经常性收入的增加以及在澳大利亚达成的重要企业协议。对新西兰 eRUC 机会的战略关注提供了长期增长潜力，而北美则面临经济和竞争障碍。前瞻性指引依然乐观，强调了澳大利亚和新西兰的增长</p>

<p>EROAD Limited ((ERDLF)) has held its Q2 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>EROAD Limited ((ERDLF)) 举行了第二季度财报电话会议。以下是会议的主要亮点。</p>
</div><h3>TipRanks Black Friday Sale</h3>
<div class="lb-trans"><h3>TipRanks 黑色星期五促销</h3>
</div><ul>
<li>Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.</li>
<li>Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio -  now also 60% off</li>
</ul>
<div class="lb-trans"><ul>
<li>享受 TipRanks Premium 60% 的折扣，获取您投资所需的数据支持洞察和研究工具。</li>
<li>订阅 TipRanks 的智能投资者精选，通过我们高表现的模型投资组合查看我们的数据 - 现在也享受 60% 的折扣</li>
</ul>
</div><p>EROAD Limited’s recent earnings call painted a picture of mixed performance, with the company showcasing robust free cash flow and promising growth in Australia and New Zealand. However, these positives were counterbalanced by significant challenges in North America, including impairments and customer nonrenewals. The strategic focus on the eRUC opportunity in New Zealand offers a potential long-term global expansion path, yet the hurdles in North America remain a concern.</p>
<div class="lb-trans"><p>EROAD Limited 最近的财报电话会议展示了混合的业绩，公司展现了强劲的自由现金流和在澳大利亚和新西兰的良好增长。然而，这些积极因素被北美的重大挑战所抵消，包括资产减值和客户不续约。公司在新西兰的 eRUC 机会的战略重点提供了潜在的长期全球扩展路径，但北美的障碍仍然令人担忧。</p>
</div><h2>Strong Free Cash Flow</h2>
<div class="lb-trans"><h2>强劲的自由现金流</h2>
</div><p>EROAD demonstrated strong operational discipline with a free cash flow of $6.2 million, or $17 million on a normalized basis. This highlights the company’s capability in cash generation, underpinning its financial stability and operational efficiency.</p>
<div class="lb-trans"><p>EROAD 展现了强大的运营纪律，自由现金流为 620 万美元，或在正常化基础上为 1700 万美元。这突显了公司在现金生成方面的能力，支撑了其财务稳定性和运营效率。</p>
</div><h2>Increased Annualized Recurring Revenue</h2>
<div class="lb-trans"><h2>年化经常性收入增加</h2>
</div><p>The company reported an increase in annualized recurring revenue to over $178 million, marking a 6.9% rise overall and a 3% increase in constant currency. This growth was driven by higher-value subscriptions and enterprise expansion, reflecting EROAD’s successful market penetration strategies.</p>
<div class="lb-trans"><p>公司报告年化经常性收入超过 1.78 亿美元，整体增长 6.9%，以固定汇率计算增长 3%。这一增长得益于高价值订阅和企业扩展，反映了 EROAD 成功的市场渗透策略。</p>
</div><h2>Significant Australian Market Growth</h2>
<div class="lb-trans"><h2>澳大利亚市场显著增长</h2>
</div><p>Australia emerged as a strong performer for EROAD, with a 30% increase in annualized recurring revenue. This growth was fueled by enterprise expansion and a high adoption rate of safety and compliance products, underscoring the region’s strategic importance.</p>
<div class="lb-trans"><p>澳大利亚成为 EROAD 的强劲表现市场，年化经常性收入增长 30%。这一增长得益于企业扩展和安全合规产品的高采用率，凸显了该地区的战略重要性。</p>
</div><h2>New Zealand eRUC Opportunity</h2>
<div class="lb-trans"><h2>新西兰 eRUC 机会</h2>
</div><p>EROAD is strategically positioned to leverage New Zealand’s transition to universal electronic road user charging (eRUC), presenting significant long-term global opportunities. This initiative could potentially drive future growth and expansion for the company.</p>
<div class="lb-trans"><p>EROAD 在新西兰的普遍电子道路用户收费（eRUC）转型中处于战略位置，提供了显著的长期全球机会。该倡议可能推动公司的未来增长和扩展。</p>
</div><h2>Cleanaway Enterprise Agreement</h2>
<div class="lb-trans"><h2>Cleanaway 企业协议</h2>
</div><p>The new enterprise agreement with Cleanaway, valued at $5 million ARR, covers a national fleet of over 3,000 heavy vehicles in Australia. This agreement highlights EROAD’s ability to secure substantial contracts, enhancing its revenue base.</p>
<div class="lb-trans"><p>与 Cleanaway 签署的新企业协议，年化经常性收入为 500 万美元，涵盖了澳大利亚超过 3000 辆重型车辆的全国车队。该协议突显了 EROAD 获取重大合同的能力，增强了其收入基础。</p>
</div><h2>North America Performance Challenges</h2>
<div class="lb-trans"><h2>北美业绩挑战</h2>
</div><p>North America posed significant challenges, with a 1.5% decline in revenue and a nearly 6% reduction in ARR. These setbacks were attributed to slower economic conditions, increased competition, and the nonrenewal of a large U.S. customer.</p>
<div class="lb-trans"><p>北美面临重大挑战，收入下降 1.5%，年化经常性收入减少近 6%。这些挫折归因于经济条件放缓、竞争加剧以及一大美国客户的不续约。</p>
</div><h2>Impairment of North American Assets</h2>
<div class="lb-trans"><h2>北美资产减值</h2>
</div><p>The company recorded a $135 million impairment of goodwill and other assets in North America, driven by softer economic conditions and heightened competition. This impairment reflects the ongoing challenges EROAD faces in this market.</p>
<div class="lb-trans"><p>公司在北美记录了 1.35 亿美元的商誉和其他资产减值，原因是经济条件疲软和竞争加剧。这一减值反映了 EROAD 在该市场面临的持续挑战。</p>
</div><h2>Operating Costs and R&amp;D Capitalization</h2>
<div class="lb-trans"><h2>运营成本和研发资本化</h2>
</div><p>Operating costs accounted for 71% of revenue, with a decrease in R&amp;D capitalization impacting normalized EBIT, which fell to $2.5 million from $4.7 million in the previous period. This indicates a need for strategic cost management.</p>
<div class="lb-trans"><p>运营成本占收入的 71%，研发资本化的减少影响了正常化的 EBIT，从上一个时期的 470 万美元降至 250 万美元。这表明需要进行战略成本管理。</p>
</div><h2>U.S. Customer Nonrenewal Impact</h2>
<div class="lb-trans"><h2>美国客户不续约的影响</h2>
</div><p>The nonrenewal by a large U.S. customer, involving around 10,000 connections, significantly impacted North America’s ARR and future growth prospects, highlighting the challenges in retaining key clients in a competitive market.</p>
<div class="lb-trans"><p>一大美国客户的不续约，涉及约 1 万个连接，显著影响了北美的年化经常性收入和未来增长前景，突显了在竞争市场中留住关键客户的挑战。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>EROAD’s guidance for the fiscal year 2026 remains optimistic, with projected revenue between $197 million and $203 million and ARR between $175 million and $183 million. The company expects a free cash flow yield of 5% to 8% of revenue, adjusted for 4G upgrade costs. The strategic focus will continue on Australia and New Zealand, with cautious investment in North America due to softer conditions. The eRUC opportunity in New Zealand is anticipated to offer significant long-term potential.</p>
<div class="lb-trans"><p>EROAD 对 2026 财年的指导保持乐观，预计收入在 1.97 亿至 2.03 亿美元之间，年化经常性收入在 1.75 亿至 1.83 亿美元之间。公司预计自由现金流收益率为收入的 5% 至 8%，已调整 4G 升级成本。战略重点将继续放在澳大利亚和新西兰，因北美经济条件较软而谨慎投资。新西兰的 eRUC 机会预计将提供显著的长期潜力。</p>
</div><p>In conclusion, EROAD Limited’s earnings call highlighted a mixed performance with strong growth in certain regions offset by challenges in others. The company’s strategic initiatives in Australia and New Zealand, particularly the eRUC opportunity, present promising avenues for future growth. However, the hurdles in North America, including impairments and customer nonrenewals, remain significant challenges that the company must address.</p>
<div class="lb-trans"><p>总之，EROAD Limited 的财报电话会议突显了混合的业绩，在某些地区强劲增长的同时，其他地区面临挑战。公司在澳大利亚和新西兰的战略举措，特别是 eRUC 机会，为未来增长提供了有希望的途径。然而，北美的障碍，包括减值和客户不续约，仍然是公司必须解决的重大挑战。</p>
</div>

EROAD Limited 的收益电话会议表现不一：在挑战中实现增长