Fleetmatics enjoys 38% jump in revenue as more firms adopt software

Dublin-based software group Fleetmatics saw first-quarter revenue jump 38 per cent to $38.4 million as more companies adopted its fleet-tracking software.

The company, which develops and sells fleet-management software for small and medium-sized businesses, said active vehicles under subscription stood at 356,000, up 39 per cent on the same period last year.

Our ability to exceed expectations across all key operating metrics during the first quarter highlights the continued robust demand from our small and medium-sized customers," chief executive Jim Travers said.

“Our strong revenue and subscription growth is also being driven by continued solid execution by our team and the value proposition of our comprehensive Software-as-a-Service (SaaS) fleet management solution.”

The company floated on the floated on the New York Stock Exchange last October, raising $125 million in capital.