EROAD Limited Ordinary Shares
ERD.NZXInformation Technology
EROAD has created an electronic solution to manage and pay Road User Charges (RUC), support regulatory compliance and provide value-added commercial services to the heavy vehicle industry. In 2009, EROAD implemented the world's first network-wide GPS/cellular-based road user charging system, which modernised the existing paper-based RUC regime in New Zealand. The EROAD system consists of a secure electronic distance recorder (Ehubo), combined with a bank-grade payment gateway and services portal. We undertake design and manufacture of our Ehubos, as well as software development, from our headquarters in Auckland. EROAD's successful New Zealand reference site provided it with the opportunity to enter the international market. In 2014 we commercially launched in Oregon, becoming the first approved electronic Weight-Mile Tax (WMT) service provider in North America. We also entered the Australian market with a commercial services offering. For more information please visit www.eroad.com.
Market Data
$1.050
+0.1%$197.5M
-1.2x
$-0.859
0.00%
-0.3%
Latest Earnings
EROAD Continues Transformation, Reports FY26 Results
25 May 2026
EROAD reported FY26 revenue of NZ$195.2m, up just 0.4% year-on-year, with strong Australian growth (+40%) and steady New Zealand performance offset by a decline in North America following a major customer non-renewal. Reported EBIT was a loss of NZ$155.9m, driven by a NZ$134.7m non-cash impairment of North American assets, while Normalised EBIT was NZ$2.9m (down from NZ$9.9m in FY25). The company is executing a group-wide transformation plan with a strategic refocus on ANZ markets, targeting significant improvement by FY28, while acknowledging the next six months will remain challenging. Key points: Australia delivered exceptional growth with revenue up 40.3% to NZ$18.8m and ARR up 73% to NZ$21.9m, driven by enterprise wins including the Cleanaway rollout (3,000+ heavy vehicles, A$5m ARR on full deployment).; New Zealand remains a strong cash-generative market, delivering NZ$24.7m of free cash flow to the firm, with ARR up 5% to NZ$93.5m and asset retention rate of 91.9%.; The 4G hardware upgrade programme in New Zealand is now complete (73k units over 3 years, ~88% renewal rate), freeing up cash, sales and customer service capacity going forward.
Recent Announcements
SPH Notice - Ampfield Management, L.P.
Ampfield Management, L.P changed substantial holding from 15.30% to 16.46%.
Capital Change Notice - Issue of Performance Share Rights
EROAD Limited issued 47,583 unquoted Performance Share Rights (PSRs) convertible to ordinary shares on 27 May 2026 under its Share Retention Plan, representing 0.857% of the PSR class, with vesting eligible on 31 May 2026 subject to continued employment. The PSRs have nil consideration and a $0 exercise price, bringing total PSRs on issue to 5,553,538 across three annual grant cycles.
EROAD Releases Updated Proxy Form
EROAD Limited has released an updated proxy form to correct minor cross-referencing errors in relation to its Notice of Meeting; shareholders who have already submitted a proxy form do not need to take action unless they wish to amend their voting instructions.
EROAD Continues Transformation, Reports FY26 Results
EROAD reported FY26 revenue of NZ$195.2m, up just 0.4% year-on-year, with strong Australian growth (+40%) and steady New Zealand performance offset by a decline in North America following a major customer non-renewal. Reported EBIT was a loss of NZ$155.9m, driven by a NZ$134.7m non-cash impairment of North American assets, while Normalised EBIT was NZ$2.9m (down from NZ$9.9m in FY25). The company is executing a group-wide transformation plan with a strategic refocus on ANZ markets, targeting significant improvement by FY28, while acknowledging the next six months will remain challenging. Key points: Australia delivered exceptional growth with revenue up 40.3% to NZ$18.8m and ARR up 73% to NZ$21.9m, driven by enterprise wins including the Cleanaway rollout (3,000+ heavy vehicles, A$5m ARR on full deployment).; New Zealand remains a strong cash-generative market, delivering NZ$24.7m of free cash flow to the firm, with ARR up 5% to NZ$93.5m and asset retention rate of 91.9%.; The 4G hardware upgrade programme in New Zealand is now complete (73k units over 3 years, ~88% renewal rate), freeing up cash, sales and customer service capacity going forward.
EROAD Notice of Meeting, ASM Update and Director Changes
EROAD Limited has rescheduled its 2026 Annual Shareholders' Meeting to 24 June 2026 and announced director changes, including Barry Einsig's retirement and Ryan Brosnahan's appointment. Ampfield Holdings (15.3% shareholder) has nominated three director candidates and proposed removal of two existing directors, but the Board recommends shareholders vote FOR Ryan Brosnahan and Ian Whiting's elections while voting AGAINST the other Ampfield nominations and removal proposals.
EROAD Appoints New Director Progressing Board Renewal
EROAD Limited has appointed Ryan Brosnahan as a Non-Executive Director effective 1 June 2026; Brosnahan, a financial services and technology executive with 25+ years of experience, has served as EROAD's Chief Transformation Officer since October 2025 and will stand for shareholder election despite not currently qualifying as an independent director.
EROAD FY26 Financial Results and Webinar Details
EROAD will release its FY26 financial results on 25 May 2026 and will host a webinar presentation at 12:00pm NZT on the same day to discuss the company's financial and operational performance, with a replay available on the EROAD website.
2026 Annual Shareholders Meeting & Director Nominations
EROAD announced its 2026 Annual Shareholders Meeting will be held on Tuesday, 23 June 2026 at its Albany, Auckland offices, with director nominations closing on Tuesday, 12 May 2026 at 5:00pm for eligible shareholders.
SPH Notice - Ellerston Capital Limited
Ellerston Capital Limited disclosed a change in substantial holding.
SPH Notice - Ampfield Management, L.P.
Ampfield Management, L.P changed substantial holding from 7.36% to 15.30%.
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