EROAD Limited (NZX:ERD) Annual Report 2022

The latest annual report of EROAD Limited (ERD) was published on 31 Mar 2022. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - ERD Annual Results

Amounts in NZD

Total Revenue
Gross Profit
Net Tangible Assets
Net Income
Capital Expenditures

ERD Income Statement 2022 Annual Report

As per the latest Income Statement of ERD, the Net revenue increased by $23.30M (25%) compared to the previous period. The operating income in 2022 decreased by $-4.70M (-92%). The net income as per the annual report was -9.6M which decreased by $-12.10M (-484%) compared to previous year.

Income Statement Report (2022/2021)

2022 2021
Total Revenue 114.9M 91.6M
Gross Profit 21.8M 23.6M
Operating Income 400k 5.1M
Income Before Tax -10.4M 2.6M
Net Income -9.6M 2.5M

Balance Sheet - ERD 2022 Annual Report

Read further: ERD Balance Sheet Detailed Analysis

The latest balance sheet from annual result of EROAD Limited showed the company reduced the cash on balance sheet by $-43.20M (-76%). The Net tangible assets of ERD on the balance sheet were at 107.6M which is $9.20M (9%) more than previous annual report. The total stockholder equity also increased by $145.60M (143%) compared to previous reporting period.

Balance Sheet Statement Report (2022/2021)

2022 2021
Cash 13.9M 57.1M
Total Assets 367.1M 169.6M
Long Term Debt 30.2M 28.6M
Total Liabilities 119.4M 67.5M
Total Shareholder Equity 247.7M 102.1M
Net Tangible Assets 107.6M 98.4M

Cash Flow Statement - ERD 2022 Annual Report

The 2022 annual cash flow statement of EROAD Limited showed that the net income decreased by $-12.10M (-484%) compared to previous reporting period. Also the capital expenditure of ERD decreased by $-23.70M (-504%).

As of 2022, the total cash from investing activities was -134.6M and total cash from financing activities was 77.1M.

Cash Flow Statement Report (2022/2021)

2022 2021
Net Income -9.6M 2.5M
Capital Expenditures -28.4M -4.7M
Dividends Paid - -
Total Cash From From Investing Activities -134.6M -22.8M
Total Cash From From Financing Activities 77.1M 48.4M

EROAD Limited Annual Report History

Income Statement

Income Statement history of EROAD Limited (NZX:ERD)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Total Revenue 114.9M 91.6M 81.2M 61.4M
Cost Of Revenue 93.1M 68M 60.6M 50.6M
Gross Profit 21.8M 23.6M 20.6M 10.8M
Research Development - - - -
Selling General Administrative - - - -
Non Recurring - - - -
Other Operating Expenses - - - -
Total Operating Expenses 114.5M 86.5M 76.7M 63.7M
Operating Income 400k 5.1M 4.5M -2.3M
Total Other Income Expense Net -10.8M -2.5M -5.1M -2.8M
Ebit 400k 5.1M 4.5M -2.3M
Interest Expense -2.9M -2.7M -2.8M -2.8M
Income Before Tax -10.4M 2.6M 1.4M -5.1M
Income Tax Expense -800k 100k 400k -200k
Minority Interest - - - -
Net Income From Continuing Ops -9.6M 2.5M 1M -4.9M
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income -9.6M 2.5M 1M -4.9M
Net Income Applicable To Common Shares -9.6M 2.5M 1M -4.9M

Balance Sheet Statement

Balance Sheet Statement history of EROAD Limited (NZX:ERD)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Cash 13.9M 57.1M 3.4M 16.1M
Net Receivables 16.2M 5.4M 7.5M 5.8M
Other Current Assets 20.4M 16M 19.9M 17.3M
Total Current Assets 61.5M 82.6M 34M 43.9M
Property Plant Equipment 61.7M 34.7M 37.4M 33.9M
Good Will 105.1M - - -
Intangible Assets 35M 3.7M 9.4M 3.3M
Other Assets 103.8M 48.6M 45M 42.1M
Deferred Long Term Asset Charges 10.3M 8.3M 7.5M 7.5M
Total Assets 367.1M 169.6M 125.8M 123.2M
Accounts Payable 11.6M 4.2M 4.1M 3.5M
Other Current Liab 24.2M 3.9M 3.6M 5.8M
Long Term Debt 30.2M 28.6M 33.6M 17.5M
Other Liab 19M 2.7M 4.9M 4.5M
Deferred Long Term Liab 93.5M 40.3M 37.5M 34.6M
Total Current Liabilities 65.9M 32M 30.7M 43.7M
Total Liab 119.4M 67.5M 74.5M 71.9M
Common Stock 293.3M 131.7M 80.7M 80.6M
Retained Earnings -35.4M -26.2M -26.5M -27.7M
Treasury Stock -10.2M -3.4M -2.9M -1.6M
Other Stockholder Equity -10.2M -3.4M -2.9M -1.6M
Total Stockholder Equity 247.7M 102.1M 51.3M 51.3M
Net Tangible Assets 107.6M 98.4M 41.9M 48M

Cash Flow Statement

Cash Flow Statement history of EROAD Limited (NZX:ERD)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Net Income -9.6M 2.5M 1M -4.9M
Depreciation 11.2M 8.6M 8.4M 6.7M
Change To Netincome 300k -1M -1M -900k
Change To Account Receivables -10.4M 2.7M -200k 1.1M
Change To Liabilities 5.8M -1.4M 800k 1M
Total Cash From Operating Activities 14.3M 28.1M 23.1M 14.2M
Capital Expenditures -28.4M -4.7M -11.6M -10.9M
Total Cashflows From Investing Activities -134.6M -22.8M -35.9M -27.3M
Net Borrowings -4.5M -2.4M 100k 7.3M
Other Cashflows From Financing Activities -3.4M -2.1M -2.1M -2.1M
Total Cash From Financing Activities 77.1M 48.4M 100k 7.3M
Change In Cash -43.2M 53.7M -12.7M -5.8M
Issuance Of Stock 85M 52.9M 52.9M 52.9M
Dividends Paid - - - -