For those interested to hear more about Trakm8 Holdings (LON:TRAK), I decided to publish an article on what I think are the reasons why there is a great opportunity which is about to unravel here as the market seems to completely have it off its radar.

Overview

I'll better let the company's own description explain what it does:

Trakm8 is a UK based technology leader in fleet management and insurance telematics, optimisation and dashboard camera systems. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its telematics based solutions; these score driver behaviour, monitor vehicle health and continuously improve the security and operational efficiency of both private drivers and company fleets.

So they make their money by selling the hardware devices, the data analytics that come with it in a form of monthly subscription as well as bespoke engineering solutions customized for different customers. Recurring revenues and number of devices are in my mind the 2 numbers that set a telematics provider apart from the competition.

They have some big names as customers:

  • Major Roadside Assistance companies: AA, Green Flag, ANWB (NL)
  • Insurance companies: Direct Line Group and subsidiaries, Marmalade, SmartdriverClub (AXA)
  • Major Fleet customers: Shell, Iceland, BT Fleet, Saint Gobain, Scottish Power, Kubota, Mecalac, Calor Gas, Bibby Distribution

Acquisitions

Trakm8 has acquired:

  1. in 2013, black box manufacturing company BOX Telematics
  2. in 2014, vehicle camera manufacturer DCS Systems (RoadHawk brand)
  3. in 2015, route optimisation expert RouteMonkey
  4. in 2016, small SME telematics company RoadSense

They own the whole Intellectual Property (IP) from the hardware (black box, camera etc) to the algorithms used throughout for analytics and optimization.


Products

Trakm8 has 2 main lines of business: Solutions and Products. Solutions account for the majority of the company's revenues while Products these days is only about standalone camera sales from their RoadHawk brand.

They have just spent a whole year in investing heavily in R&D and a new line of products that have resulted into the best telematics device in the market. This resulted in:

  • RoadHawk 600: The only 4G/1080p resolution camera with full telematics capabilities as well as route optimization. A full one-stop shop for everything a professional Fleet owner requires, all fully customizable with the option to switch on all or parts of the product to…

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