MiX Telematics Limited (NYSE:MIXT) Q3 2024 Earnings Conference Call February 1, 2024 8:00 AM ET

Company Participants

Stefan Joselowitz - President and CEO

Paul Dell - Chief Financial Officer

Conference Call Participants

Matt Pfau - William Blair

Alex Sklar - Raymond James

Operator

Good morning, everyone. And thank you for participating in today’s Conference Call to discuss MiX Telematics’ Financial Results for the Third Quarter of Fiscal 2024 and the December 31, 2023. Joining us today are MiX Telematics’ President and CEO, Stefan Joselowitz; and the company’s CFO, Paul Dell. Following their remarks, we’ll open the call for any questions you may have.

I’d now like to turn the conference over to MiX Telematics Chief Financial Officer, Paul Dell, as he reads the company’s Safe Harbor statement regarding forward-looking statements. Paul, please go ahead.

Paul Dell

Thank you, and good morning, everyone. Before we continue, I’d like to remind all participants that during today’s call, we will make forward-looking statements related to our business, which are subject to material risks and uncertainty 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’s 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 would like to turn the call over to MiX Telematics’ President and CEO, Stefan Joselowitz. Jos?

Stefan Joselowitz

Thank you, Paul, and good morning, everyone. Before turning to our third quarter performance, I would like to update you on the progress we have made towards completing our transformative business combination with Powerfleet. I am pleased to report that we have made significant headway in navigating the complex regulatory processes that govern the transaction in both the United States and South Africa.

We have crossed a number of important administrative hurdles, including receiving most of the prerequisite approvals needed to proceed. One of the final hurdles is for both companies to obtain the approval of their respective shareholders, and to this end, we have set the date of the formal vote for February 28, 2024.

Earlier this week, we mailed copies of the Powerfleet prospectus and our Scheme Circular to shareholders. Whilst there are no guarantees, I am confident we will receive the green light from our investors and we expect the transaction to formally close in early April.