Trakm8 back in the black – but revenues fall
Trakm8, the Coleshill telematics and data insight firm, is back in the black after posting a small profit for the six months to the end of September.
The company made a surplus of £13,000 – up from a loss of £2.4m in 2022.
Revenue fell slightly to £8.5m due to an “insurance capacity-driven reduction in demand”.
Trakm8 said that insurance capacity is not expected to return significantly this year; however new customers, improving demand for its second half 2023/24 and capacity is expected to recover for its full-year 2025.
In a statement, the firm said: “The board expects to meet market expectations, provided a significant software sale is secured late in FY24. In this respect, discussions are ongoing to secure a large optimisation software sales contract, and while there can be no certainty, the Board remains confident of the prospects of concluding such discussions in FY24.”