MiX Telematics Limited (NYSE:MIXT) Q1 2023 Results Conference Call July 28, 2022 8:00 AM ET
Company Participants
Paul Dell - CFO
Stefan Joselowitz - President and CEO
Conference Call Participants
Matt Pfau - William Blair
Alex Sklar - Raymond James
Mike Walkley - Canaccord Genuity
Operator
Thank you for standing by. This is the conference operator. Welcome to the MiX Telematics First Quarter 2023 Earnings Results Conference Call. [Operator Instructions] And the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]
I’d now like to turn the conference over to Paul Dell, Chief Financial Officer. Please go ahead.
Paul Dell
Thank you, and good morning, everyone. We appreciate you joining us to review MiX Telematics’ earnings results for the first quarter of fiscal year 2023, which ended on June 30, 2022. Today, we will be discussing the results announced in our press release issued a few hours ago. I’m Paul Dell, MiX’s Chief Financial Officer, and I’m joined by Stefan Joselowitz, or as many of you know him, Joss. He is President and Chief Executive Officer of MiX Telematics.
During today’s call, we will make forward-looking statements related to our business, which are subject to material risks and uncertainties that could cause our actual results to differ materially. For discussion of the material risks and other important factors that could affect our results, please refer to those contained in our Form 10-K and other SEC filings, all of which are available on the Investor Relations section of our website. We will also be referring to certain non-GAAP financial measures. There is a reconciliation schedule detailing these results currently available in our press release, which is located on our website and filed with the SEC.
With that, I will turn the call over to Joss.
Stefan Joselowitz
Thanks, Paul, and thanks to all of you for joining the call today. MiX began fiscal 2023 with solid financial and operational results as we navigate the business to an increasingly uncertain economic environment. We had another strong quarter of net subscriber growth, adding 23,200 subscribers to end with a base of over 838,000.
This is an increase of 11% year-over-year and an all-time high for the company. It is also our third consecutive quarter adding more than 20,000 net subscribers, and we are now above pre-pandemic levels, an important driver in our continued revenue growth. All 3 of our solution categories contributed to the expansion with a notably strong performance in our light fleet business.