ERoad posts $161m loss after write-down
ERoad reported a full-year net loss of $161.1 million after a $134.7 million write-down of its North American operations, marking a shift from a $1.4 million profit the prior year. The company is refocusing on its core Australasian markets, with revenue in Australia rising 40 percent while North America saw declines and increased customer churn.
Fleet management technology firm ERoad recorded a net loss of $161.1 million for the year ended March 2026, reversing a $1.4 million profit the previous year. The loss stems from a previously announced $134.7 million impairment of its North American assets, reflecting challenges in that market. Revenue remained nearly flat at $195.2 million, while annualized recurring revenue (ARR) slightly declined to $174.3 million, as growth in Australia and New Zealand was offset by declines in North America. Underlying earnings (EBITDA) fell to $53.5 million from $62.1 million, and free cash flow margins dropped to 7.4 percent from 12.1 percent. Executive chair John Scott attributed the results to 'legacy issues and challenges,' particularly in the U.S., where revenue fell and customer churn increased after losing a major client. ERoad is now shifting to a regional model focused on its core Australasian markets, where performance remained stronger—Australia saw revenue rise 40 percent and ARR up 73 percent. The company currently lacks a permanent chief executive, with Scott stepping in as executive chair while a recruitment process continues. Scott warned the near-term outlook would remain difficult, though ERoad is committed to stabilizing operations and providing a trading update in September. No dividend was declared for the year.
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