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ABAX Group AS Q2 2025 Financial Report: Strong Growth in Asset Tracking and Improved Margins
Larvik, Norway August 29, 2025 | ABAX Group AS, a leading provider of telematics IoT and smart mobility solutions, today announced its financial results for the second quarter of 2025. The company delivered strong growth in its Asset Tracking segment, improved gross margin, and continued progress on operational efficiencies despite continuous macroeconomic challenges in Sweden.
Key highlights:
Successful launch of ecommerce in the ABAX customer portal, enabling customers to buy more products through self-service
AI-powered Driver App piloted with 1,000 drivers, with 90 % reporting improved driving performance
Asset Tracking revenue up 28 % year-over-year
Adjusted EBITDA margin of 43 %, up 0.3 p.p. from last year
Adjusted gross margin of 88 %, up 1 p.p. year-over-year, reflecting operational efficiencies
Operational and Strategic Developments
Asset Tracking maintained strong momentum during the quarter, particularly among larger enterprise customers, reflecting ABAX’s improved go-to-market strategy and cross-selling to its vehicle tracking base. The company also saw positive developments from the Fleet360 acquisition, with a growing pipeline and new contracts signed in Sweden and Norway.
Product innovation continued in Q2, with new features including CO₂ reporting, Single Sign-On, partner API integrations, and a self-service upsell capability already generating incremental recurring revenue.
Operational efficiency initiatives, particularly in hosting and SIM services, contributed to margin improvements and a lower future cost base.
Significant Events after the Quarter
ABAX published its 2024 Sustainability Report, available at www.abax.com/investor-relations
“Our second quarter results underline the strength of our strategy,” said Emma Dyga, CEO of ABAX. “We see continued strong growth in Asset Tracking, supported by a clear focus on larger customers and operational discipline. We are building a solid foundation for future growth with an expanding pipeline, product innovation, and improved profitability.”
For more information, please contact:
Emma Dyga, CEO, ABAX
Email: emma.dyga@abax.com
Phone: +46 734390652
John Ole Moe, CFO, ABAX
Email: john.moe@abax.com
Mobile: +47 95 26 87 01
About ABAX
ABAX Group is a leading European telematics and Internet of Things (IoT) company head-quartered in Larvik, Norway. It operates a connected mobility data analytics platform that collects and analyzes data from mobile assets such as vehicles, equipment, and tools to de-liver fleet and asset management, equipment control, and Usage-Based Insurance (UBI) ser-vices across sectors as transportation, construction, utilities, and services.
The Group supports businesses with field-based operations by providing data analytics and automated reporting that improve operational efficiency, ensure regulatory compliance, and reduce costs.
With more than 500,000 tracked mobile assets and close to 40,000 customers, ABAX Group has a proven track record of translating customer needs into innovative, profitable solu-tions.
ABAX Group AS is obliged to make this information public pursuant to the EU Market Abuse Regulation 598/2014. The information was submitted for publication, with contact persons set out above, at 17:15 CEST on the 29th of August 2025.