Fleetmatics: More Room To Run?
Alpha Gen Capital
Alpha Gen Capital
FleetMatics Continues To Make All The Right Moves
Alpha Gen Capital
Alpha Gen Capital
Wed, May 4, 4:42 PM
Tue, May 3, 5:35 PM
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Thu, Feb. 25, 10:25 AM
- Though FleetMatics (FLTX -11.7%) beat Q4 EPS estimates and posted roughly in-line revenue, the company is guiding for Q1 revenue of $78M-$80M and EPS of $0.33-$0.35, below a consensus of $80.2M and $0.39.
- Full-year guidance is healthier: Revenue of $342M-$346M (21% Y/Y growth at the midpoint) and EPS of $1.72-$1.80 vs. a consensus of $343.7M and $1.75.
- On the earnings call (transcript), CFO Stephen Lifshatz mentioned hiring activity will affect FleetMatics' Q1 bottom line. "[W]e tend to do quite a bit of hiring early in the year and have a set of expenses that go along with that and see the productivity gains on a quarter-by-quarter basis."
- Meanwhile, CEO Jim Travers suggested his company is willing to offer discounts to win some large deals. "We're the market share leader. As reported and disclosed in previous calls, we have seen some of our competitors get pretty aggressive trying to secure a business. And in some cases, we're going to walk from it. And others ... we're going to go after it." SA author Cauchy raised concerns about competitive pressures in November.
- Active vehicles under subscription rose by 54K Q/Q in Q4 to 709K. GAAP operating expenses rose 31% Y/Y to $45.6M - $24.7M was spent on sales/marketing, $14.9M on G&A, and only $6M on R&D. 2015 free cash flow totaled $45.2M, and FleetMatics ended the year with $177M in cash and $23M in debt.
- FleetMatics' Q4 results, earnings release
Wed, Feb. 24, 4:08 PM
Tue, Feb. 23, 5:35 PM
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Nov. 4, 2015, 4:00 PM
- In addition to beating Q3 estimates, Fleetmatics (NYSE:FLTX) has guided for Q4 revenue of $76.5M-$77.5M and EPS of $0.37-$0.40, favorable to a consensus of $76.2M and $0.37.
- The SaaS fleet management software vendor has also announced it's buying Italian peer Visirun for an undisclosed sum. Visirun's platform claims 3K customers and has 28K vehicles under subscription. "Italy was a natural next step in our European expansion plans and builds off of our recent entries into The Netherlands and France," says CEO Jim Travers. Fleetmatics notes Italy is Europe's third-biggest telematics market, and that an estimated ~5% of Italian commercial vehicles currently use a telematics solution.
- Shares have made new 52-week highs.
- Q3 results, PR
Nov. 3, 2015, 4:15 PM
- Fleetmatics (NYSE:FLTX): Q3 EPS of $0.41 beats by $0.07.
- Revenue of $73.47M (+21.6% Y/Y) beats by $0.54M.
Nov. 2, 2015, 5:35 PM
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Aug. 6, 2015, 4:35 PM
- Fleetmatics (NYSE:FLTX): Q2 EPS of $0.33 beats by $0.07.
- Revenue of $68.59M (+24.1% Y/Y) beats by $0.24M.
Aug. 5, 2015, 5:35 PM
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May 7, 2015, 3:36 PM
- Tech companies rallying after posting calendar Q1 reports include online textbook rental/learning services provider Chegg (CHGG +14.6%), salvage auction site Liquidity Services (LQDT +10.3%), optical component maker Emcore (EMKR +6.7%), and health site owner WebMD (WBMD +6.7%).
- Companies declining following earnings include cloud fleet management software vendor Fleetmatics (FLTX -6.8%), seismic hardware provider Ion Geophysical (IO -11.8%), and online stock photo marketplace Shutterstock (SSTK -4.7%).
- Chegg beat Q1 estimates on the back of an 89% Y/Y increase in digital revenue (now 39% of total revenue. Q2 revenue guidance of $61M-$65M and full-year guidance of $300M-$315M is respectively favorable to consensus estimates of $62.2M and $304.3M at the midpoints.
- Beaten-down Liquidity beat FQ2 estimates while reporting a 16.6% Y/Y drop in GMV to $189.4M. FQ3 guidance is for GMV of $175M-$200M and EPS of $0.05-$0.10 (below an $0.11 consensus).
- Emcore beat FQ2 estimates and is guiding for FQ3 broadband fiber division revenue of $19M-$21M, above an $18.5M consensus.
- WebMD beat Q1 estimates on the back of 21% Y/Y increases in monthly unique users (210M) and page views (4.25B). Q2 revenue guidance of $145M-$148M is below a $151.9M consensus, but full-year revenue guidance of $615M-$635M has been reiterated.
- Fleetmatics beat Q1 estimates, but also guided for Q2 revenue of $67.9M-$68.7M and EPS of $0.24-$0.26, below a consensus of $69.5M and $0.30. Full-year guidance is for revenue of $281M-$283M and EPS of $1.26-$1.30 vs. a consensus of $288.8M and $1.29.
- Ion, hit hard by declining oil exploration work, missed Q1 estimates while reporting 79%, 49%, and 12% Y/Y drops in Solutions, Systems, and Software revenue. The company expects "an increase in exploration spending over the back half of the year, albeit at lower than historical levels."
- Shutterstock beat Q1 estimates, but also forecast Q2 revenue of $104M-$106M (below a $106.1M consensus). 2015 revenue guidance of $436M-$444M is in-line with a $439.5M consensus.
- Previously covered: Alibaba, Qorvo, SunEdison, MeetMe, Priceline, Teradata, Activision, Gogo, Atmel, Varonis, Zynga
May 6, 2015, 4:26 PM
- Fleetmatics (NYSE:FLTX): Q1 EPS of $0.33 beats by $0.08.
- Revenue of $65.47M (+26.1% Y/Y) beats by $0.8M.
May 5, 2015, 5:35 PM
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Feb. 24, 2015, 4:26 PM
- Fleetmatics (NYSE:FLTX): Q4 EPS of $0.44 beats by $0.15.
- Revenue of $64M (+27.8% Y/Y) beats by $0.07M.
Feb. 23, 2015, 5:35 PM
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FleetMatics Group Ltd. is a global provider of fleet management solutions for small and mid-sized businesses delivered as software-as-a-service SaaS. It offers Web-based and mobile application solutions, which provide fleet operators with visibility into vehicle location, fuel usage, speed and... More
Industry: Application Software
Country: United States
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