Trakm8 issues profit warning as contract falls through

Telematics and data insight firm Trakm8 has issued a profit warning after an anticipated contract fell through.

In its half-year report in December, Trakm8 said its outcome for 2025 remained uncertain, due to a weak insurance market.

The insurance market has remained poor, and whilst fleet telematics and optimisation sales have been steady, an anticipated optimisation contract will not come through.

Trakm8’s board now expects revenues for 2025 to be under 10% lower than the £3.3m reported for 2024.

Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the group supplies the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Stark, EON, Iceland Foods, Sainsbury’s, GSF, Direct Line Group, Ticker and Freedom Group.