News

EROAD Successfully Completes Placement

Transportation technology business EROAD Limited (NZX/ASX: ERD) today announces it has successfully raised approximately NZ$42 million through its placement announced on 17 September 2020 at a price of NZ$3.90 per share (AU$3.59 per share), representing a 10.3% discount to the last close price on the NZX on 14 September 2020 of NZ$4.35; and 9.0% discount to the ten-day volume weighted average price on the NZX of NZ$4.29. Read more »

Quarterly Operational Update and COVID-19 Update

Transport technology services company EROAD today released its regular quarterly update for the three months ended 31 March 2020 and provided an update on the impacts of COVID-19 on its business. Read more »

EROAD completes refinancing of debt facilities

EROAD has completed the previously signalled refinancing of its debt facilities and has entered into a new syndicated three-year debt facility with Bank of New Zealand and China Construction Bank. Total committed syndicated facilities amount to $60.0 million which includes $36.1 million of term debt, relating largely to refinanced debt, a new $20.0 million capital expenditure facility and a $3.9 million working capital facility. Read more »

'Bubble' innovation for effective working

What does working from home really look like? In a not too distant past, the cranny nook or kitchen table were ideal, but it’s a different story now that there’s others in the household all competing for the same space. Read more »

Walking the talk on improving road safety

EROAD confirms that WorkSafe New Zealand, St John New Zealand and the NZ Transport Agency have chosen EROAD technology for their respective company vehicles, improving the safety of their staff while driving. Read more »

EROAD's North American growth trajectory

EROAD continues to make headway in North America, attracting customers across all contiguous states. North America is now a developed market for EROAD, with this market alone now having equalled EROAD’s size in New Zealand when it listed on the NZX in August 2014. Read more »

EROAD Investor Day 2019

Investors will hear from members of the Executive Leadership Team who will present an update on the Company’s growth strategy, the progress achieved to date and the path to reaching the next milestone of 250,000+ subscribers. Read more »

Identifying road crashes before they occur

EROAD has researched and created a new data algorithm called Dynamic Risk, that will enable transport authorities to move to a predictive programme of risk management to make efficient spending decisions that can improve road safety. Read more »

EROAD announces Board changes

Susan Paterson has been appointed to the Board as a non-executive director. Ms Paterson will also chair the Finance, Risk and Audit Committee.
Read more »

Business update and major North American customer signed

Integrated technology and services provider EROAD Limited (NZX:ERD) releases this market update on global performance and announces that one of the largest privately owned fleets in North America has become EROAD’s largest U.S. based customer. Read more »

EROAD appoints Chief Marketing Officer

EROAD is pleased to announce the appointment of Genevieve Tearle to the role of Chief Marketing Officer. Genevieve brings to the role experience gained working across Europe, Asia, and Americas. Her experience covers Consumer Durables, Consumer Electronics, Lighting and FMCG industries, in both B2C and B2B environments. She has held key roles in New Zealand and European corporates and understands the drivers for commercial success. Read more »

Growth in exports to the US acknowledged

Electronic transport services company EROAD has won Exporter of the Year to the USA in the $1 million to $10 million category at the AmCham DHL Express Success & Innovation Awards. Read more »

Graham Stuart appointed Chair of EROAD

Transport technology services company EROAD today announced that Michael Bushby, who has chaired the Board since December 2012, will stand down and will be succeeded as Chairman by director Graham Stuart. Read more »

EROAD moves into profit in record year of growth

EROAD Limited reported record growth of Total Contracted Units in both Australia and New Zealand and North American markets of 61.5%, revenue of $51.5 million, EBITDA of $15.0 million and Net Profit after Tax of $0.2 million. Read more »

Graham Stuart joins EROAD board

EROAD announced today that Graham Stuart will join the board of the transport technology and services company. He will also chair the Finance, Risk and Audit Committee. Read more »

EROAD Limited successfully completes equity raising

EROAD Limited (NZX: ERD) (EROAD) is pleased to announce it has successfully raised approximately NZ$15.5 million through its placement announced on 12 December 2017 at a price of NZ$3.04 per share, a 4.7% discount to EROAD’s 5 day VWAP. Read more »

EROAD Growth Funding Update

Following on from EROAD’s market announcement on 30 May 2017, Mr Newman said EROAD is pleased to announce it has accepted a credit approved facility letter of offer from the BNZ, Read more »

US Supreme Court rejects ELD lawsuit

The US Supreme Court has decided to reject a hearing on the lawsuit against the US Department of Transportation’s ELD (electronic logging device) mandate. Read more »

Half year 2017 announcement, EROAD achieves record NZ sales and validates US market opportunity

Integrated technology, tolling and services provider EROAD Limited says it has enjoyed record growth in its cornerstone New Zealand market, supporting prudent further investment in its very considerable North American opportunity. EROAD has validated this opportunity using independent external expertise that is helping support its North American business planning. Read more »

US Court of Appeals denies ELD legal challenge

A legal challenge to prevent the compulsory installation of Electronic Logging Devices (ELDs) into heavy vehicles in the US has been thrown out in court, clearing the way for the implementation of the new regulations. Read more »

EROAD announced as ATA Corporate Partner

We are delighted to announce that EROAD is now a Corporate Partner of American Trucking Associations (ATA). We look forward to working with the ATA and its members to advocate for and support the trucking industry. Read more »

EROAD market update - 29 January 2016

Steven Newman, EROAD CEO, has now been based in Oregon since October 2015 and, as was signaled on 25 November 2015 at the time of releasing our half year results, we are in a position to provide an update to the market on progress to-date. Read more »

EROAD launches Electronic Logbook in USA

EROAD has today launched its Electronic Logbook, providing motor carriers with an innovative electronic HOS (hours of service) solution to help improve compliance and reduce paperwork. Read more »

EROAD reaches 25,000 connections

EROAD Limited (NZX:ERD) announced today that earlier this week EROAD reached 25,000 units connected to its Depot platform (“Units on Depot”). Read more »

EROAD first half-year result on track

EROAD Limited reported a solid half-year result delivering strong growth in Units on Depot and successfully establishing its business in Oregon, USA. Read more »

EROAD extends AWS partnership

Amazon Web Services (AWS) is featuring Kiwi transport technology and services provider EROAD as a case study on its global website. Read more »

EROAD looks for engineers

Electronic road user charges and transport services company EROAD will hire up to 40 additional engineers in the coming year, EROAD engineering manager Jarred Clayton told the Amazon Web Services summit in Auckland today. Read more »

EROAD moves to Amazon enterprise cloud

EROAD’s rapid growth and expansion into international markets has necessitated a shift from a physical server-based infrastructure to the Amazon enterprise cloud. Read more »