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E- EROAD Market Release EROAD accelerates towards next phase of growth 26 November 2021 Transportation technology services company EROAD ( ASX / NZX : ERD ) , with its purpose of safer and more sustainable roads , today released its financial results for the first half of the 2022 financial year . All numbers are stated in New Zealand dollars ( NZ $ ) and relate to the six months ended 30 September 2021 ( H1 FY22 ) . Comparisons relate to the six months ended 30 September 2020 ( H1 FY21 ) unless stated otherwise . Key highlights : • Revenue increased $ 2.2m to $ 48.0m from H1 FY21 ( which included non - recurring revenue of $ 1.6m ) and delivered reported EBITDA of $ 12.6m which includes $ 2.0m of transaction and integration costs ; Contracted units increased by 6,500 despite COVID - 19 and monthly ARPU was $ 57.64 reflecting additional products and services sold ; • Asset retention rate remained high at 94.1 % reflecting the quality of EROAD's service and product offering ; and Continued acceleration of growth strategies by increasing R & D spend to 28 % of Revenue , development of strategic partnerships and the undertaking of the transformational acquisition of Coretex . " EROAD's financial result reflects both the continued investment in our growth strategies as well as the resilience of our business model in continued challenging macro - economic conditions . Sales momentum is expected to increase with the easing of COVID - 19 impacts , the launch of the next generation platform and hardware , the release of Clarity Solo , and the Coretex acquisition . " said Steven Newman , Chief Executive Officer . EROAD Chair Graham Stuart says : " We have always been clear , that EROAD chooses to grow through organic growth , strategic partnerships and acquisitions . In H1 FY22 , we have successfully delivered across all these fronts . We are positioned for the next phase of growth as we look to build our business in the North American and Australian telematics markets . " Revenue increased $ 2.2m to $ 48.0m reflecting growth in units , dashcams and additional add- on subscriptions sold to customers . This was partly offset by a reduction in other revenue from H1 FY21 . This prior period included income from the forgiveness of a North American COVID - 19 government support loan ( $ 1.6m ) . Over the period , contracted units grew by 5 % to 132,703 reflecting continued good growth in both New Zealand and Australia . This was partly offset by a fall in units in North America predominantly due the loss of an enterprise customer ( 1,751 units ) which aligned its