• Steady revenue from Connexion subscriptions
• Revenue growth from income linked to fleet size
• Steady revenue from feature-enhancement delivery

Connexion Mobility Ltd ('Connexion') provided an update on its activities for the quarter ended 31 March 2026 ('Q3 FY26'). The company continued to supply its mobility SaaS platforms, OnTRAC and Connexion, to US Automotive OEMs and franchised dealers, and expanded operations to Canada. Financially, Connexion's performance in Q3 FY26 consisted of steady revenue from Connexion subscriptions, revenue growth from income linked to fleet size, and steady revenue from feature-enhancement delivery. Gross Profit increased 11% quarter-on-quarter ('Q-o-Q'), to $1.9m, while Net Profit Before Tax declined 31% Q-o-Q, to $0.6m, mainly due to increased SG&A expenses. Connexion was selected as the sole software supplier to GM Canada's Enhanced Exposure Program, and completed the national launch with minimal disruption. The company continued to focus on improving revenue diversification and growing its Marketplace subscriptions. Connexion's financial position remained solid, with a 5% increase in total revenue to $3m, and a 17% increase in operating cash flow to $0.6m. The company's net cash and investments stood at $5.9m, with no debt.

Connexion reported Q3 FY26 revenue of $3m (+5% over prior quarter), gross profit of $1.9m (+11% over prior quarter), and net profit before tax of $0.6m (-31% over prior quarter).

Connexion intends to continue growing its SaaS revenue streams through proprietary features, commercial partnerships, and expansion of its user base to new OEMs and franchised dealer groups. The company is also actively sourcing and assessing alternative, profitable uses for its capital, including potential M&A.