MiX Telematics (MIXT) 10-Q 10 Aug 20 2020 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jun. 30, 2020	Jul. 24, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-36027
Entity Registrant Name	MIX TELEMATICS LIMITED
Entity Incorporation, State or Country Code	T3
Entity Address, Address Line One	750 Park of Commerce Blvd
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33487
City Area Code	877
Local Phone Number	585-1088
Title of 12(b) Security	American Depositary Shares, each representing 25 Ordinary Shares, no par value
Trading Symbol	MIXT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		601,018,597
Amendment Flag	false
Entity Central Index Key	0001576914
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Current assets:
Cash and cash equivalents	$ 24,513	$ 17,953
Restricted cash	757	699
Accounts receivables, net of allowances for doubtful accounts of $3.6 million and $4.6 million, respectively	21,554	24,100
Inventory, net	3,674	3,271
Prepaid expenses and other current assets	6,774	7,375
Total current assets	57,272	53,398
Property and equipment, net	28,317	30,019
Goodwill	38,825	37,923
Intangible assets, net	15,772	15,007
Deferred tax assets	3,533	3,108
Other assets	4,009	4,200
Total assets	147,728	143,655
Current liabilities:
Short-term debt	2,550	2,367
Accounts payables	4,299	5,251
Accrued expenses and other liabilities	17,860	14,839
Deferred revenue	4,563	5,077
Total current liabilities	29,272	27,534
Deferred tax liabilities	10,537	11,436
Long-term accrued expenses and other liabilities	5,312	5,660
Total liabilities	45,121	44,630
Commitments and contingencies
MiX Telematics Limited stockholders’ equity
Preferred stock: 100 million shares authorized but not issued	0	0
Common stock: 600.9 million and 601.0 million no-par value shares issued and outstanding as of March 31, 2020 and June 30, 2020, respectively	66,522	66,522
Less treasury stock at cost: 54 million shares as of March, 31, 2020 and June 30, 2020	(17,315)	(17,315)
Retained earnings	68,687	67,482
Accumulated other comprehensive loss	(8,986)	(11,070)
Additional paid-in capital	(6,306)	(6,599)
Total MiX Telematics Limited stockholders’ equity	102,602	99,020
Non-controlling interest	5	5
Total stockholders’ equity	102,607	99,025
Total liabilities and stockholders’ equity	$ 147,728	$ 143,655

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 4,581	$ 3,602
Preference shares, authorized (in shares)	100,000,000	100,000,000
Preference shares, issued (in shares)	0	0
Ordinary shares, issued (in shares)	601,000,000	600,900,000
Ordinary shares, outstanding (in shares)	601,000,000	600,900,000
Treasury stock (in shares)	54,000,000	54,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Revenue
Total revenue	$ 27,497	$ 36,283
Cost of revenue
Total cost of revenue	8,578	12,228
Gross profit	18,919	24,055
Operating expenses
Sales and marketing	2,746	3,581
Administration and other	13,491	14,786
Total operating expenses	16,237	18,367
Income from operations	2,682	5,688
Other income/(expense)	(98)	375
Net interest income/(expense)	(70)	73
Income before income tax expense	2,514	6,136
Income tax expense	92	1,140
Net income	2,422	4,996
Less: Net income attributable to non-controlling interest	0	0
Net income attributable to MiX Telematics Limited	$ 2,422	$ 4,996
Net income per ordinary share
Basic (in dollars per share)	$ 0.004	$ 0.01
Diluted (in dollars per share)	0.004	0.01
Net income per American Depository Share
Basic (in dollars per share)	0.11	0.22
Diluted (in dollars per share)	$ 0.11	$ 0.21
Ordinary shares
Weighted average (in shares)	547,124	562,060
Diluted weighted average (in shares)	558,702	579,241
American Depository Shares
Weighted average (in shares)	21,885	22,482
Diluted weighted average (in shares)	22,348	23,170
Subscription
Revenue
Total revenue	$ 25,875	$ 31,638
Cost of revenue
Total cost of revenue	7,349	9,295
Hardware and other
Revenue
Total revenue	1,622	4,645
Cost of revenue
Total cost of revenue	$ 1,229	$ 2,933

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 2,422	$ 4,996
Other comprehensive income	2,084	1,727
Foreign currency translation adjustments, net of tax	2,084	1,727
Total comprehensive income	4,506	6,723
Less: Total comprehensive income attributable to non-controlling interest	0	0
Total comprehensive income attributable to MiX Telematics Limited	$ 4,506	$ 6,723

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY shares in Thousands, $ in Thousands	R / shares	USD ($)$ / sharesshares	Cumulative Effect, Period of Adoption, AdjustmentUSD ($)	Common StockUSD ($)shares	Treasury StockUSD ($)	Accumulated Other Comprehensive Income/(Loss)USD ($)	Accumulated Other Comprehensive Income/(Loss)Cumulative Effect, Period of Adoption, AdjustmentUSD ($)	Additional Paid-In CapitalUSD ($)	Retained EarningsUSD ($)	Retained EarningsCumulative Effect, Period of Adoption, AdjustmentUSD ($)	Total MiX Telematics Limited Stockholders’ EquityUSD ($)	Total MiX Telematics Limited Stockholders’ EquityCumulative Effect, Period of Adoption, AdjustmentUSD ($)	Non-Controlling InterestUSD ($)
Beginning balance (in shares) at Mar. 31, 2019 | shares				601,948
Beginning balance at Mar. 31, 2019		$ 116,941	$ (262)	$ 68,200	$ (9,227)	$ 2,115	$ (22)	$ (6,902)	$ 62,750	$ (240)	$ 116,936	$ (262)	$ 5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
Net income		$ 4,996							4,996		4,996
Other comprehensive income		1,727				1,727					1,727
Issuance of common stock in relation to stock options and SARs exercised (in shares) | shares				524
Issuance of common stock in relation to stock options and SARs exercised		0
Stock-based compensation		111						111			111
Dividends		(1,563)							(1,563)		(1,563)
Ending balance (in shares) at Jun. 30, 2019 | shares				602,472
Ending balance at Jun. 30, 2019		$ 121,950		$ 68,200	(9,227)	3,820		(6,791)	65,943		121,945		5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared (in ZAR/USD per share) | (per share)	R 0.04	$ 0.3
Beginning balance (in shares) at Mar. 31, 2020 | shares		600,900		600,934
Beginning balance at Mar. 31, 2020		$ 99,025		$ 66,522	(17,315)	(11,070)		(6,599)	67,482		99,020		5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		2,422							2,422		2,422
Other comprehensive income		2,084				2,084					2,084
Issuance of common stock in relation to stock options and SARs exercised (in shares) | shares				85
Issuance of common stock in relation to stock options and SARs exercised		0
Stock-based compensation		293						293			293
Dividends		$ (1,217)							(1,217)		(1,217)
Ending balance (in shares) at Jun. 30, 2020 | shares		601,000		601,019
Ending balance at Jun. 30, 2020		$ 102,607		$ 66,522	$ (17,315)	$ (8,986)		$ (6,306)	$ 68,687		$ 102,602		$ 5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared (in ZAR/USD per share) | (per share)	R 0.04	$ 0.2

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical)	3 Months Ended
	Jun. 30, 2020R / shares	Jun. 30, 2020$ / shares	Jun. 30, 2019R / shares	Jun. 30, 2019$ / shares
Statement of Stockholders' Equity [Abstract]
Dividends declared (in ZAR/USD per share) | (per share)	R 0.04	$ 0.2	R 0.04	$ 0.3

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Cash generated from operations	$ 9,189	$ 5,775
Interest received	112	218
Interest paid	(83)	(59)
Income tax (paid)/received	139	(203)
Net cash provided by operating activities	9,357	5,731
Cash flows from investing activities
Acquisition of property and equipment - in-vehicle devices	(992)	(3,605)
Acquisition of property and equipment - other	(84)	(231)
Proceeds from the sale of property and equipment	0	29
Acquisition of intangible assets	(1,044)	(1,340)
Net cash used in investing activities	(2,120)	(5,147)
Cash flows from financing activities
Cash paid on dividends to MiX Telematics stockholders	(1,216)	(1,554)
Movement in short-term debt	147	(596)
Net cash used in financing activities	(1,069)	(2,150)
Net (decrease)/increase in cash and cash equivalents, and restricted cash	6,168	(1,566)
Cash and cash equivalents, and restricted cash at beginning of the period	18,652	27,838
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	450	376
Cash and cash equivalents, and restricted cash at end of the period	$ 25,270	$ 26,648

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies Nature of the Business MiX Telematics Limited (the "Company") is a leading global provider of fleet and mobile asset management solutions delivered as Software-as-a-Service ("SaaS"). The Company’s solutions provide enterprise fleets, small fleets and consumers with solutions for safety, efficiency, risk and security. The Company is incorporated and domiciled in South Africa, with principal executives offices in Boca Raton, Florida. Basis of preparation and consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and reflect, in the opinion of management, all adjustments, consisting of normal recurring adjustments and accruals, which are necessary for a fair statement of the results of the interim periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission ("SEC"). The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated on consolidation. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended March 31, 2020 filed with the SEC on July 23, 2020. Use of estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions that affect the amounts reported and disclosed. Significant estimates include, but are not limited to, allowances for doubtful accounts, the assessment of expected cash flows used in evaluating goodwill and long-lived assets for impairment, the amortization period for deferred commissions, the determination of useful lives of the Company’s customer relationships, contingencies, the classification of devices and other hardware as in-vehicle devices (equipment) versus inventory based on the future expectation of the different types of customer contracts, income and deferred taxes, unrecognized tax benefits and valuation allowances on deferred tax assets. Actual results could differ from those estimates, and such differences may be material to the consolidated financial statements. As of June 30, 2020, the global outbreak of COVID-19 has had and, we believe, will continue to have an adverse impact on global economies and financial markets. We have taken into account the impact of COVID-19, to the extent possible, on our financial statements. However, future changes in economic conditions related to COVID-19 could have an impact on future estimates and judgements used, particularly those relating to goodwill sensitivities and impairment assessments. Summary of significant accounting policies There have been no changes to the Company’s significant accounting policies disclosed in the Company’s Annual Report on Form 10-K for the year ended March 31, 2020, filed with the SEC on July 23, 2020, that have had a material impact on the Company’s Condensed Consolidated Financial Statements and related notes.

Revenue from contracts with cus

Revenue from contracts with customers	3 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from contracts with customers	Revenue from contracts with customers The Company provides fleet and mobile asset management solutions. The principal revenue streams are (1) Subscription and (2) Hardware and other. Subscription revenue is recognized over time and hardware and other revenue is recognized at a point-in-time. To provide services to customers, a device is required which collects and transmits information collected from the vehicle or other asset. Fleet customers may also obtain other items of hardware, virtually all of which are functionally-dependent on the device. Some customers obtain control of the device and other hardware (where legal title transfers to the customer); while other customers do not (where legal title remains with the Company). A contract arises on the acceptance of a customer’s purchase order, which is typically executed in writing. Contract modifications As a result of the adverse impact that the COVID-19 pandemic has had on certain of the Company’s customers, various pricing concessions relating to subscriptions, in the form of payment holidays and discounts on monthly billings, were granted during the quarter ended June 30, 2020. These pricing concessions were accounted for as contract modifications under ASC 606 Revenue from Contracts with Customers ("ASC 606"), which had the effect of reducing the transaction prices allocated to the remaining distinct performance obligations in the contracts. Accordingly, the effect of the pricing concessions is being recognized as those remaining subscription services are provided. A contract asset of $0.5 million, representing amounts that will only be billed in future periods, has been recognized as of June 30, 2020, and is included in Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheet. Contract liabilities When customers are invoiced in advance for subscription services that will be provided over periods of more than one month, or pay in advance of service periods of more than one month, contract liabilities are recorded. Deferred revenue as of March 31, 2020 and June 30, 2020 was $5.1 million and $4.6 million, respectively. During the quarter ended June 30, 2019 and June 30, 2020, revenue of $1.9 million and $1.1 million, respectively, was recognized which was included in the deferred revenue balances at the beginning of each quarter. Contract acquisition costs Commissions payable to sales employees and external third parties which are incurred to acquire contracts are capitalized and amortized, unless the amortization period is 12 months or less, in which instance they are expensed immediately. Deferred commissions were $3.6 million and $3.4 million as of March 31, 2020 and June 30, 2020, respectively, and are included in Other assets on the Condensed Balance Sheet. The following is a summary of the amortization expense recognized (in thousands): Three Months Ended June 30, 2019 2020 Amortization recognized during the quarter: $ (811) $ (692) – Cost of revenue (external commissions) (580) (484) – Sales and marketing (internal commissions) (231) (208)

Credit risk related to accounts

Credit risk related to accounts receivables	3 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Credit risk related to accounts receivables	Credit risk related to accounts receivables The movements in the allowance for doubtful accounts are as follows (in thousands): Three Months Ended June 30, 2019 2020 Balance at April 1, $ 3,019 $ 3,602 Bad debt provision 595 855 Write-offs, net of recoveries (60) (8) Foreign currency translation differences 83 132 Balance at June 30, $ 3,637 $ 4,581 Overview of the Company’s exposure to credit risk from customers The maximum exposure to credit risk at the reporting date is the carrying value of each receivable and loan to external parties, net of impairment losses where relevant. Other than 15% of the gross receivable balance relating to four debtors as of June 30, 2020 (as of March 31, 2020: 15% of the gross receivable balance relating to four debtors), the Company has no significant concentration of credit risk, due to its spread of customers across various operations and geographical locations. The Company does not hold any collateral as security.

Property and equipment

Property and equipment	3 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Property, and equipment	Property and equipment Property and equipment comprises owned and right of use assets. The Company leases many assets including property, vehicles, machinery and IT equipment. The cost and accumulated depreciation of owned equipment are as follows (in thousands): March 31, June 30, Owned equipment Equipment, vehicles and other $ 6,114 $ 6,335 In-vehicle devices 52,824 53,440 Less: accumulated depreciation and impairments (35,397) (37,847) Owned equipment, net $ 23,541 $ 21,928 Total depreciation expense related to owned equipment during the three months ended June 30, 2019 and 2020 was $3.3 million and $2.8 million, respectively. Depreciation expense related to in-vehicle devices is included in subscription cost of revenue. The cost and accumulated depreciation of right-of-use property and equipment are as follows (in thousands): March 31, June 30, Right-of-use assets Property $ 7,724 $ 7,969 Equipment, vehicles and other 250 252 Less: accumulated depreciation (1,496) (1,832) Right of use property and equipment, net $ 6,478 $ 6,389

Intangible assets

Intangible assets	3 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	Intangible assets Intangible assets comprise the following (in thousands): As of March 31, 2020 As of June 30, 2020 Useful life (in years) Gross Carrying amount Accumulated amortization Net Gross Carrying amount Accumulated amortization Net Patents and trademarks 3 - 20 $ 76 $ (45) $ 31 $ 50 $ (20) $ 30 Customer relationships 2 - 15 2,600 (2,068) 532 2,566 (2,070) 496 Internal-use software, technology and other 1 - 18 26,508 (12,064) 14,444 28,440 (13,194) 15,246 Total $ 29,184 $ (14,177) $ 15,007 $ 31,056 $ (15,284) $ 15,772 For the three months ended June 30, 2019 and 2020, amortization expense of $1.0 million, and $0.8 million has been recognized, respectively.

Accrued expenses and other liab

Accrued expenses and other liabilities	3 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Accrued expenses and other liabilities	Accrued expenses and other liabilities Accrued expenses comprise the following (in thousands): March 31, June 30, Current: Product warranties $ 601 $ 622 Maintenance 357 454 Employee-related accruals 5,296 6,665 Lease liabilities 1,094 1,404 Accrued income tax payable 736 2,216 Other accruals 6,755 6,499 Total current $ 14,839 $ 17,860 Non-current: Lease liabilities $ 5,413 $ 5,092 Other liabilities 247 220 Total non-current $ 5,660 $ 5,312 Product warranties The Company provides warranties on certain products and undertakes to repair or replace items that fail to perform satisfactorily. Management estimates the related provision for future warranty claims based on historical warranty claim information, the product lifetime, as well as recent trends that might suggest that past cost information may differ from future claims. The table below provides details of the movement in the accrual in thousands: Three Months Ended June 30, 2019 2020 Product warranties Balance at April 1, $ 777 $ 616 Statement of Income charge 60 26 Utilized (117) (31) Foreign currency translation difference 13 22 Balance at June 30, $ 733 $ 633 Non-current portion (included in other liabilities) $ 15 $ 11 Current portion $ 718 $ 622

Income taxes

Income taxes	3 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income taxes	Income taxes Our income tax provision for the three months ended June 30, 2019 and 2020 reflects our estimate of the effective tax rates expected to be applicable for the full fiscal years, adjusted for any discrete events which are recorded in the period they occur. The estimates are re-evaluated each quarter based on our estimated tax expense for the full fiscal year. Our effective tax rate was 18.6% for the three months ended June 30, 2019 compared to 3.7% for the three months ended June 30, 2020. Ignoring the impact of foreign exchange gains and losses net of tax, the effective tax rate for the three months ended June 30, 2019 and 2020, was 27.4% and 30.2%, respectively. The Company files income tax returns in South Africa, the US federal jurisdiction, many US states, as well as many foreign jurisdictions. The tax year 2020 remain open to examination by the various jurisdictions in which the Company is subject to tax. Fiscal years outside the normal statutes of limitation remain open to audit by tax authorities due to tax attributes generated in those early years which have been carried forward and may be audited in subsequent years when utilized. Our federal, and state, income tax returns have been examined or are closed by statute for all years prior to fiscal ye ar 2020. Tax authorities for certain non-U.S. jurisdictions are also examining returns. With some exceptions, we are generally not subject to tax examinations in non-U.S. jurisdictions for years prior to fiscal year 2020.

Earnings per share

Earnings per share	3 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings per share	Earnings per share Basic Basic earnings per share is calculated by dividing the income attributable to ordinary shareholders of the parent by the weighted average number of ordinary shares in issue during the period. The net income and weig hted average number of shares used in the calculation of basic and diluted earnings per share are as follows (in thousands, except per share data): Three Months Ended June 30, 2019 2020 Numerator (basic) Net income attributable to ordinary shareholders $ 4,996 $ 2,422 Denominator (basic) Weighted-average number of ordinary shares in issue 562,060 547,124 Basic earnings per share $ 0.01 $ 0.004 American Depository Shares*: Net income attributable to ordinary shareholders $ 4,996 $ 2,422 Weighted-average number of American Depository Shares in issue 22,482 21,885 Basic earnings per American Depository share $ 0.22 $ 0.11 *One American Depository Share is the equivalent of 25 ordinary shares. Diluted Diluted earnings per share is calculated by dividing the diluted income attributable to ordinary shareholders by the diluted weighted average number of ordinary shares in issue during the period. Stock options, stock appreciation rights, performance share s and restricted share units g ranted to employees under the TeliMatrix Group Executive Incentive Scheme and the MiX Telematics Long-Term Incentive Plan ("LTIP") are considered to be potential ordinary shares. They have been included in the determination of diluted earnings per share if the required performance condition (if applicable) would have been met based on the performance up to the reporting date, and to the extent to which they are dilutive. Three months ended June 30, 2019 2020 Numerator (diluted) Diluted net income attributable to ordinary shareholders $ 4,996 $ 2,422 Denominator (diluted) Weighted-average number of ordinary shares in issue 562,060 547,124 Adjusted for: – potentially dilutive effect of stock appreciation rights 15,234 9,696 – potentially dilutive effect of stock options and restricted share units 1,947 1,882 Diluted-weighted average number of ordinary shares in issue 579,241 558,702 Diluted earnings per share $ 0.01 $ 0.004 American Depository Shares*: Diluted net income attributable to ordinary shareholders $ 4,996 $ 2,422 Diluted weighted-average number of American Depository Shares in issue 23,170 22,348 Diluted earnings per American Depository share $ 0.21 $ 0.11 *One American Depository Share is the equivalent of 25 ordinary shares.

Segment information

Segment information	3 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment information	Segment information The Company has 6 reportable segments, which are based on the geographical location of the 5 Regional Sales Offices ("RSOs") and also includes the Central Services Organization ("CSO"). CSO is the central services organization that wholesales products and services to RSOs who, in turn, interface with our end-customers, distributors and dealers. CSO is also responsible for the development of hardware and software platforms and provides common marketing, product management, technical and distribution support to each of the other reportable segments. CSO is a reportable segment because it produces discrete financial information which is reviewed by the chief operating decision maker ("CODM") and has the ability to generate external revenues. The CODM has been identified collectively as the executive committee and the Chief Executive Officer who make strategic decisions. The performance of the reportable segments have been measured and evaluated by the CODM using Segment Adjusted EBITDA, which is a measure which uses net income, determined under International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board, as a starting point. Segment assets are not disclosed because such information is not reviewed by the CODM. The following table provides revenue and Segment Adjusted EBITDA (in thousands): Three Months Ended June 30, 2019 Subscription revenue (1) Hardware and other revenue (2) Total revenue Segment Adjusted EBITDA Regional Sales Offices Africa $ 17,686 $ 1,381 $ 19,067 $ 8,357 Europe 2,787 557 3,344 1,071 Americas 5,662 886 6,548 2,358 Middle East and Australasia 4,261 1,623 5,884 2,754 Brazil 1,217 161 1,378 623 Total Regional Sales Offices 31,613 4,608 36,221 15,163 Central Services Organization 25 37 62 (2,645) Total Segment Results $ 31,638 $ 4,645 $ 36,283 $ 12,518 1. Subscription revenue is recognized over time. 2. Hardware and other revenue is recognized at a point in time. Three Months Ended June 30, 2020 Subscription revenue (1) Hardware and other revenue (2) Total revenue Segment Adjusted EBITDA Regional Sales Offices Africa $ 13,923 $ 601 $ 14,524 $ 7,245 Europe 2,850 134 2,984 1,302 Americas 4,175 155 4,330 1,408 Middle East and Australasia 3,881 709 4,590 1,918 Brazil 1,031 23 1,054 410 Total Regional Sales Offices 25,860 1,622 27,482 12,283 Central Services Organization 15 — 15 (1,863) Total Segment Results $ 25,875 $ 1,622 $ 27,497 $ 10,420 1. Subscription revenue is recognized over time. 2. Hardware and other revenue is recognized at a point in time. A reconciliation of the segment results to income before income tax expense is disclosed below (in thousands). Three Months Ended June 30, 2019 2020 Segment Adjusted EBITDA $ 12,518 $ 10,420 Corporate and consolidation entries (1,756) (2,330) Operating lease costs (1) (308) (392) Product development costs (2) (391) (243) Depreciation and amortization (4,252) (3,628) Stock-based compensation costs (111) (293) Increase in restructuring costs (3) — (844) Net profit on sale of equipment 316 (1) Net foreign exchange gains/(losses) 47 (105) Net interest income/(expense) 73 (70) Income before income tax expense for the period $ 6,136 $ 2,514 1. For the purposes of calculating Segment Adjusted EBITDA, operating leases have been capitalized, except for leases with a term of no more than 12 months or leases of low value assets. Where operating leases are capitalized for segment purposes, the amortization of the right-of-use asset and the interest on the operating lease liability are excluded from the Segment Adjusted EBITDA. Therefore, in order to reconcile Segment Adjusted EBITDA to income before taxes, the total lease expense in respect of operating leases needs to be deducted. 2. For segment reporting purposes, product development costs, which do not meet the capitalization requirements under ASC 730 Research and Development or under ASC 985 Software , are capitalized and amortized. The amortization is excluded from Segment Adjusted EBITDA. In order to reconcile Segment Adjusted EBITDA to net income before taxes, product development costs capitalized for segment reporting purposes need to be deducted. 3. $0.6 million and $0.2 million of the restructuring costs related to the Central Service Organization (CSO) and the Africa reporting segment, respectively. No single customer accounted for 10% or more of the Company’s total revenue for the three months ended June 30, 2019 and 2020. No single customer accounted for 10% or more of the Company’s accounts receivables as of March 31, 2020 and June 30, 2020.

Stock-based compensation plan

Stock-based compensation plan	3 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-based compensation plan	Stock-based compensation plan The Company has issued share incentives under two equity-classified incentive plans, the TeliMatrix Group Executive Incentive Scheme and the MiX Telematics Long-Term Incentive Plan ("LTIP"), to directors and certain key employees within the Company. Since the introduction of the LTIP during 2014, no further awards have been made in terms of the TeliMatrix Group Executive Incentive Scheme. The LTIP provides for three types of grants to be issued, namely performance shares, restricted share units ("RSUs") or stock appreciation rights ("SARs"). As of June 30, 2020, there were 47,090,000 s hares reserved for future issuance under the LTIP. The total stock-based compensation expense recognized during the three months ended June 30, 2019 and 2020, was $0.1 million and $0.3 million, respectively. Stock appreciation rights granted under the LTIP The following table summarizes the activities for the unvested SARs: Number of SARs Weighted- Weighted Average Contractual Remaining Term ( years) Aggregate Intrinsic Values (in thousands) Outstanding as of April 1, 2020 32,943,750 30 Granted 11,200,000 34 Exercised (175,000) 17 Forfeited (33,905) 18 Outstanding as of June 30, 2020 43,934,845 31 3.97 Vested and expected to vest as of June 30, 2020 42,310,470 31 3.19 3,313 Vested as of June 30, 2020 11,447,345 18 2.10 1,945 * The award price is denominated in South African cents. U.S. currency amounts are based on a ZAR:USD exchange rate of R17.279 as of June 30, 2020. The weighted-average grant-date fair value of SARs granted during the quarter ended June 30, 2020 , was 14 U.S. cents. The grant-date fair value was determined using a combination of the Monte Carlo Simulation option pricing model and the Binomial Tree option pricing model. U .S. currency amounts are based on a ZAR:USD exchange rate of R17.279 as of June 30, 2020. As of June 30, 2020, there was $2.7 million of unr ecogn ized compensation cost related to unvested SARs. This amount is expected to be recognized over a weighted-average p eriod of 4.81 years. Restricted share units granted under the LTIP Under the LTIP, RSUs may be issued to certain directors and key employees. The scheme rules allow for a maximum of 2 million RSUs to be granted in any financial year and for a maximum of 12 million RSUs to be granted in aggregate over the life of the plan. 2 million time-based RSUs were granted for the first time under the scheme on June 1, 2020, and will vest in tranches of 50% per annum, commencing on the second anniversary of the grant date. Vesting is conditional upon remaining within the employment of the Company. Management estimates forfeiture to be approximately 5%. Settlement will take place in the Company’s shares. The Company has no legal or constructive obligation to settle the RSUs in cash. The weighted average grant date fair value per RSU granted during the quarter ended June 30, 2020 was 29 U.S. cents. The grant date fair value was determined by deducting the present value of expected dividends to be paid per share prior to vesting from the closing market price of the Company’s shares on grant date. U.S. currency amounts are based on a ZAR:USD exchange rate of R17.2790 as of

Debt

Debt	3 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt The Company and its subsidiaries have unlimited borrowing capacity as specified in their respective Memorandums of Incorporation. As of March 31, 2020 and June 30, 2020, debt comprises bank overdrafts of $2.4 million and $2.5 mil lion, respectively. Net accounts receivables as of March 31, 2020 and June 30, 2020 of $2.9 million and $3.0 million, respectively, are pledged as security for the Company’s overdraft facilities. Details of undrawn facilities are shown below: Interest rate March 31, June 30, Undrawn borrowing facilities at floating rates include: – Standard Bank Limited: Overdraft SA Prime* less 1.2% $ 1,204 $ 1,154 Vehicle and asset finance SA Prime* less 1.2% 474 492 Working capital facility SA Prime* less 0.25% 1,395 — – Nedbank Limited overdraft SA Prime* less 2% 558 579 $ 3,631 $ 2,225 *South African prime interest rate As of March 31, 2020 and June 30, 2020, the prime interest rate was 8.75 % and 7.25%, respectively. The Standard Bank and Nedbank facilities have no fixed renewal date and are repayable on demand. The facility from Nedbank Limited is unsecured.

Restructuring costs

Restructuring costs	3 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring costs	Restructuring costsDuring the quarter ended June 30, 2020, the Company committed to plans to restructure certain parts of its business as a measure to minimize the adverse economic and business effect of the COVID-19 pandemic and to re-align resources to its current business outlook and cost structure. Following the announcement of the plans to affected parties, which occurred prior to June 30, 2020, the Company recognized $0.8 million of restructuring costs, which related to employee termination benefits. Restructuring costs are included in Administration and other expenses in the Condensed Statement of Income. $0.6 million and $0.2 million of the restructuring costs related to the Central Service Organization (CSO) and the Africa reporting segment, respectively. As of June 30, 2020, virtually all of the CSO restructuring costs had been paid. The restructuring in the Africa reporting segment is expected to be completed by September 30, 2020.

Subsequent events

Subsequent events	3 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent events	Subsequent events Other than the items below, the directors are not aware of any matter material or otherwise arising since June 30, 2020 and up to the date of this report, not otherwise dealt with herein. Dividend declared The Board of Directors declared, in respect of the three months ended June 30, 2020, a dividend of 4 South African cents per ordinary share and 1 South African Rand per ADS, which will be paid on September 8, 2020 to shareholders on record as of the close of business on August 21, 202 0.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of preparation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and reflect, in the opinion of management, all adjustments, consisting of normal recurring adjustments and accruals, which are necessary for a fair statement of the results of the interim periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission ("SEC").
Consolidation	The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated on consolidation.These unaudited condensed consolidated financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended March 31, 2020 filed with the SEC on July 23, 2020.
Use of estimates	Use of estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions that affect the amounts reported and disclosed. Significant estimates include, but are not limited to, allowances for doubtful accounts, the assessment of expected cash flows used in evaluating goodwill and long-lived assets for impairment, the amortization period for deferred commissions, the determination of useful lives of the Company’s customer relationships, contingencies, the classification of devices and other hardware as in-vehicle devices (equipment) versus inventory based on the future expectation of the different types of customer contracts, income and deferred taxes, unrecognized tax benefits and valuation allowances on deferred tax assets. Actual results could differ from those estimates, and such differences may be material to the consolidated financial statements. As of June 30, 2020, the global outbreak of COVID-19 has had and, we believe, will continue to have an adverse impact on global economies and financial markets. We have taken into account the impact of COVID-19, to the extent possible, on our financial statements. However, future changes in economic conditions related to COVID-19 could have an impact on future estimates and judgements used, particularly those relating to goodwill sensitivities and impairment assessments.

Revenue from contracts with c_2

Revenue from contracts with customers (Tables)	3 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Summary of Recognized Amortization Expense	The following is a summary of the amortization expense recognized (in thousands): Three Months Ended June 30, 2019 2020 Amortization recognized during the quarter: $ (811) $ (692) – Cost of revenue (external commissions) (580) (484) – Sales and marketing (internal commissions) (231) (208)

Credit risk related to accoun_2

Credit risk related to accounts receivables (Tables)	3 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Schedule of Movements in the Allowance for Doubtful Debts	The movements in the allowance for doubtful accounts are as follows (in thousands): Three Months Ended June 30, 2019 2020 Balance at April 1, $ 3,019 $ 3,602 Bad debt provision 595 855 Write-offs, net of recoveries (60) (8) Foreign currency translation differences 83 132 Balance at June 30, $ 3,637 $ 4,581

Property and equipment (Tables)

Property and equipment (Tables)	3 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	The cost and accumulated depreciation of owned equipment are as follows (in thousands): March 31, June 30, Owned equipment Equipment, vehicles and other $ 6,114 $ 6,335 In-vehicle devices 52,824 53,440 Less: accumulated depreciation and impairments (35,397) (37,847) Owned equipment, net $ 23,541 $ 21,928 The cost and accumulated depreciation of right-of-use property and equipment are as follows (in thousands): March 31, June 30, Right-of-use assets Property $ 7,724 $ 7,969 Equipment, vehicles and other 250 252 Less: accumulated depreciation (1,496) (1,832) Right of use property and equipment, net $ 6,478 $ 6,389

Intangible assets (Tables)

Intangible assets (Tables)	3 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets comprise the following (in thousands): As of March 31, 2020 As of June 30, 2020 Useful life (in years) Gross Carrying amount Accumulated amortization Net Gross Carrying amount Accumulated amortization Net Patents and trademarks 3 - 20 $ 76 $ (45) $ 31 $ 50 $ (20) $ 30 Customer relationships 2 - 15 2,600 (2,068) 532 2,566 (2,070) 496 Internal-use software, technology and other 1 - 18 26,508 (12,064) 14,444 28,440 (13,194) 15,246 Total $ 29,184 $ (14,177) $ 15,007 $ 31,056 $ (15,284) $ 15,772

Accrued expenses and other li_2

Accrued expenses and other liabilities (Tables)	3 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses comprise the following (in thousands): March 31, June 30, Current: Product warranties $ 601 $ 622 Maintenance 357 454 Employee-related accruals 5,296 6,665 Lease liabilities 1,094 1,404 Accrued income tax payable 736 2,216 Other accruals 6,755 6,499 Total current $ 14,839 $ 17,860 Non-current: Lease liabilities $ 5,413 $ 5,092 Other liabilities 247 220 Total non-current $ 5,660 $ 5,312
Schedule of Product Warranties	The table below provides details of the movement in the accrual in thousands: Three Months Ended June 30, 2019 2020 Product warranties Balance at April 1, $ 777 $ 616 Statement of Income charge 60 26 Utilized (117) (31) Foreign currency translation difference 13 22 Balance at June 30, $ 733 $ 633 Non-current portion (included in other liabilities) $ 15 $ 11 Current portion $ 718 $ 622

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Basic Earnings Per Share	The net income and weig hted average number of shares used in the calculation of basic and diluted earnings per share are as follows (in thousands, except per share data): Three Months Ended June 30, 2019 2020 Numerator (basic) Net income attributable to ordinary shareholders $ 4,996 $ 2,422 Denominator (basic) Weighted-average number of ordinary shares in issue 562,060 547,124 Basic earnings per share $ 0.01 $ 0.004 American Depository Shares*: Net income attributable to ordinary shareholders $ 4,996 $ 2,422 Weighted-average number of American Depository Shares in issue 22,482 21,885 Basic earnings per American Depository share $ 0.22 $ 0.11 *One American Depository Share is the equivalent of 25 ordinary shares.
Schedule of Diluted Earnings Per Share	Three months ended June 30, 2019 2020 Numerator (diluted) Diluted net income attributable to ordinary shareholders $ 4,996 $ 2,422 Denominator (diluted) Weighted-average number of ordinary shares in issue 562,060 547,124 Adjusted for: – potentially dilutive effect of stock appreciation rights 15,234 9,696 – potentially dilutive effect of stock options and restricted share units 1,947 1,882 Diluted-weighted average number of ordinary shares in issue 579,241 558,702 Diluted earnings per share $ 0.01 $ 0.004 American Depository Shares*: Diluted net income attributable to ordinary shareholders $ 4,996 $ 2,422 Diluted weighted-average number of American Depository Shares in issue 23,170 22,348 Diluted earnings per American Depository share $ 0.21 $ 0.11 *One American Depository Share is the equivalent of 25 ordinary shares.

Segment information (Tables)

Segment information (Tables)	3 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Information	The following table provides revenue and Segment Adjusted EBITDA (in thousands): Three Months Ended June 30, 2019 Subscription revenue (1) Hardware and other revenue (2) Total revenue Segment Adjusted EBITDA Regional Sales Offices Africa $ 17,686 $ 1,381 $ 19,067 $ 8,357 Europe 2,787 557 3,344 1,071 Americas 5,662 886 6,548 2,358 Middle East and Australasia 4,261 1,623 5,884 2,754 Brazil 1,217 161 1,378 623 Total Regional Sales Offices 31,613 4,608 36,221 15,163 Central Services Organization 25 37 62 (2,645) Total Segment Results $ 31,638 $ 4,645 $ 36,283 $ 12,518 1. Subscription revenue is recognized over time. 2. Hardware and other revenue is recognized at a point in time. Three Months Ended June 30, 2020 Subscription revenue (1) Hardware and other revenue (2) Total revenue Segment Adjusted EBITDA Regional Sales Offices Africa $ 13,923 $ 601 $ 14,524 $ 7,245 Europe 2,850 134 2,984 1,302 Americas 4,175 155 4,330 1,408 Middle East and Australasia 3,881 709 4,590 1,918 Brazil 1,031 23 1,054 410 Total Regional Sales Offices 25,860 1,622 27,482 12,283 Central Services Organization 15 — 15 (1,863) Total Segment Results $ 25,875 $ 1,622 $ 27,497 $ 10,420 1. Subscription revenue is recognized over time. 2. Hardware and other revenue is recognized at a point in time.
Reconciliation of Segment Results to Income Before Tax	A reconciliation of the segment results to income before income tax expense is disclosed below (in thousands). Three Months Ended June 30, 2019 2020 Segment Adjusted EBITDA $ 12,518 $ 10,420 Corporate and consolidation entries (1,756) (2,330) Operating lease costs (1) (308) (392) Product development costs (2) (391) (243) Depreciation and amortization (4,252) (3,628) Stock-based compensation costs (111) (293) Increase in restructuring costs (3) — (844) Net profit on sale of equipment 316 (1) Net foreign exchange gains/(losses) 47 (105) Net interest income/(expense) 73 (70) Income before income tax expense for the period $ 6,136 $ 2,514 1. For the purposes of calculating Segment Adjusted EBITDA, operating leases have been capitalized, except for leases with a term of no more than 12 months or leases of low value assets. Where operating leases are capitalized for segment purposes, the amortization of the right-of-use asset and the interest on the operating lease liability are excluded from the Segment Adjusted EBITDA. Therefore, in order to reconcile Segment Adjusted EBITDA to income before taxes, the total lease expense in respect of operating leases needs to be deducted. 2. For segment reporting purposes, product development costs, which do not meet the capitalization requirements under ASC 730 Research and Development or under ASC 985 Software , are capitalized and amortized. The amortization is excluded from Segment Adjusted EBITDA. In order to reconcile Segment Adjusted EBITDA to net income before taxes, product development costs capitalized for segment reporting purposes need to be deducted. 3. $0.6 million and $0.2 million of the restructuring costs related to the Central Service Organization (CSO) and the Africa reporting segment, respectively.

Stock-based compensation plan (

Stock-based compensation plan (Tables)	3 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of Unvested SARs Activities	The following table summarizes the activities for the unvested SARs: Number of SARs Weighted- Weighted Average Contractual Remaining Term ( years) Aggregate Intrinsic Values (in thousands) Outstanding as of April 1, 2020 32,943,750 30 Granted 11,200,000 34 Exercised (175,000) 17 Forfeited (33,905) 18 Outstanding as of June 30, 2020 43,934,845 31 3.97 Vested and expected to vest as of June 30, 2020 42,310,470 31 3.19 3,313 Vested as of June 30, 2020 11,447,345 18 2.10 1,945 * The award price is denominated in South African cents. U.S. currency amounts are based on a ZAR:USD exchange rate of

Debt (Tables)

Debt (Tables)	3 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Undrawn Facilities	Details of undrawn facilities are shown below: Interest rate March 31, June 30, Undrawn borrowing facilities at floating rates include: – Standard Bank Limited: Overdraft SA Prime* less 1.2% $ 1,204 $ 1,154 Vehicle and asset finance SA Prime* less 1.2% 474 492 Working capital facility SA Prime* less 0.25% 1,395 — – Nedbank Limited overdraft SA Prime* less 2% 558 579 $ 3,631 $ 2,225 *South African prime interest rate

Revenue from contracts with c_3

Revenue from contracts with customers - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract asset	$ 0.5
Deferred revenue	4.6		$ 5.1
Revenue	1.1	$ 1.9
Deferred commissions	$ 3.4		$ 3.6

Revenue from contracts with c_4

Revenue from contracts with customers - Summary of Recognized Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Capitalized Contract Cost [Line Items]
Amortization recognized during the quarter:	$ (692)	$ (811)
Cost of Revenue
Capitalized Contract Cost [Line Items]
Amortization recognized during the quarter:	(484)	(580)
Sales and Marketing
Capitalized Contract Cost [Line Items]
Amortization recognized during the quarter:	$ (208)	$ (231)

Credit risk related to accoun_3

Credit risk related to accounts receivables - Schedule of Movements in the Allowance for Doubtful Debts (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at April 1,	$ 3,602	$ 3,019
Bad debt provision	855	595
Write-offs, net of recoveries	(8)	(60)
Foreign currency translation differences	132	83
Balance at June 30,	$ 4,581	$ 3,637

Credit risk related to accoun_4

Credit risk related to accounts receivables - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Receivables [Abstract]
Net accounts receivables pledged as security	$ 3	$ 2.9
Receivable Benchmark | Customer Concentration Risk
Receivables [Abstract]
Concentration risk, percentage	15.00%	15.00%
Concentration Risk [Line Items]
Concentration risk, percentage	15.00%	15.00%

Property equipment - Schedule o

Property equipment - Schedule of Owned Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and impairments	$ (37,847)	$ (35,397)
Owned equipment, net	21,928	23,541
Equipment, vehicles and other
Property, Plant and Equipment [Line Items]
Owned equipment, gross	6,335	6,114
In-vehicle devices
Property, Plant and Equipment [Line Items]
Owned equipment, gross	$ 53,440	$ 52,824

Property and equipment - Narrat

Property and equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2.8	$ 3.3

Property equipment - Schedule_2

Property equipment - Schedule of Right-of-Use Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	$ (1,832)	$ (1,496)
Right of use property and equipment, net	6,389	6,478
Property
Property, Plant and Equipment [Line Items]
Right of use property and equipment, gross	7,969	7,724
Equipment, vehicles and other
Property, Plant and Equipment [Line Items]
Right of use property and equipment, gross	$ 252	$ 250

Intangible assets - Schedule of

Intangible assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying amount	$ 31,056	$ 29,184
Accumulated amortization	(15,284)	(14,177)
Net	15,772	15,007
Patents and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying amount	50	76
Accumulated amortization	(20)	(45)
Net	$ 30	31
Patents and trademarks | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	3 years
Patents and trademarks | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	20 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying amount	$ 2,566	2,600
Accumulated amortization	(2,070)	(2,068)
Net	$ 496	532
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	2 years
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	15 years
Internal-use software, technology and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying amount	$ 28,440	26,508
Accumulated amortization	(13,194)	(12,064)
Net	$ 15,246	$ 14,444
Internal-use software, technology and other | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	1 year
Internal-use software, technology and other | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	18 years

Intangible assets - Narrative (

Intangible assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 0.8	$ 1

Accrued expenses and other li_3

Accrued expenses and other liabilities - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Current:
Product warranties	$ 622	$ 601	$ 718
Maintenance	454	357
Employee-related accruals	6,665	5,296
Lease liabilities	1,404	1,094
Accrued income tax payable	2,216	736
Other accruals	6,499	6,755
Total current	17,860	14,839
Non-current:
Lease liabilities	5,092	5,413
Other liabilities	220	247
Total non-current	$ 5,312	$ 5,660

Accrued expenses and other li_4

Accrued expenses and other liabilities - Schedule of Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Product warranties
Beginning balance	$ 616	$ 777
Statement of Income charge	26	60
Utilized	(31)	(117)
Foreign currency translation difference	22	13
Ending balance	633	733
Non-current portion (included in other liabilities)	11	15
Current portion	$ 622	$ 718	$ 601

Income taxes (Details)

Income taxes (Details)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	3.70%	18.60%
Effective tax rate excluding impact of foreign exchange	30.20%	27.40%

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Basic earnings per share
Net income attributable to ordinary shareholders	$ 2,422	$ 4,996
Weighted average number of ordinary shares in issue (in shares)	547,124	562,060
Basic earnings per share (in dollars per share)	$ 0.004	$ 0.01
Weighted average number of American Depository Shares in issue (in shares)	21,885	22,482
Basic earnings per American Depository Share (in dollars per share)	$ 0.11	$ 0.22
Diluted earnings per share
Diluted weighted average number of ordinary shares in issue (in shares)	558,702	579,241
Diluted earnings per share (in dollars per share)	$ 0.004	$ 0.01
Diluted weighted average number of American Depository Shares in issue (in shares)	22,348	23,170
Diluted earnings per American Depository Share (in dollars per share)	$ 0.11	$ 0.21
SARs
Diluted earnings per share
Potentially dilutive effect of share-based payment arrangements (in shares)	9,696	15,234
Share Options
Diluted earnings per share
Potentially dilutive effect of share-based payment arrangements (in shares)	1,882	1,947

Segment information - Narrative

Segment information - Narrative (Details)	3 Months Ended
	Jun. 30, 2020segmentregional_sales_office
Segment Reporting [Abstract]
Number of reportable segments | segment	6
Number of regional sales offices | regional_sales_office	5

Segment information - Schedule

Segment information - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Total revenue	$ 27,497	$ 36,283
Segment Adjusted EBITDA	10,420	12,518
Subscription revenue
Segment Reporting Information [Line Items]
Total revenue	25,875	31,638
Hardware and other revenue
Segment Reporting Information [Line Items]
Total revenue	1,622	4,645
Total Regional Sales Offices
Segment Reporting Information [Line Items]
Total revenue	27,482	36,221
Segment Adjusted EBITDA	12,283	15,163
Total Regional Sales Offices | Subscription revenue
Segment Reporting Information [Line Items]
Total revenue	25,860	31,613
Total Regional Sales Offices | Hardware and other revenue
Segment Reporting Information [Line Items]
Total revenue	1,622	4,608
Africa
Segment Reporting Information [Line Items]
Total revenue	14,524	19,067
Segment Adjusted EBITDA	7,245	8,357
Africa | Subscription revenue
Segment Reporting Information [Line Items]
Total revenue	13,923	17,686
Africa | Hardware and other revenue
Segment Reporting Information [Line Items]
Total revenue	601	1,381
Europe
Segment Reporting Information [Line Items]
Total revenue	2,984	3,344
Segment Adjusted EBITDA	1,302	1,071
Europe | Subscription revenue
Segment Reporting Information [Line Items]
Total revenue	2,850	2,787
Europe | Hardware and other revenue
Segment Reporting Information [Line Items]
Total revenue	134	557
Americas
Segment Reporting Information [Line Items]
Total revenue	4,330	6,548
Segment Adjusted EBITDA	1,408	2,358
Americas | Subscription revenue
Segment Reporting Information [Line Items]
Total revenue	4,175	5,662
Americas | Hardware and other revenue
Segment Reporting Information [Line Items]
Total revenue	155	886
Middle East and Australasia
Segment Reporting Information [Line Items]
Total revenue	4,590	5,884
Segment Adjusted EBITDA	1,918	2,754
Middle East and Australasia | Subscription revenue
Segment Reporting Information [Line Items]
Total revenue	3,881	4,261
Middle East and Australasia | Hardware and other revenue
Segment Reporting Information [Line Items]
Total revenue	709	1,623
Brazil
Segment Reporting Information [Line Items]
Total revenue	1,054	1,378
Segment Adjusted EBITDA	410	623
Brazil | Subscription revenue
Segment Reporting Information [Line Items]
Total revenue	1,031	1,217
Brazil | Hardware and other revenue
Segment Reporting Information [Line Items]
Total revenue	23	161
Central Services Organization
Segment Reporting Information [Line Items]
Total revenue	15	62
Segment Adjusted EBITDA	(1,863)	(2,645)
Central Services Organization | Subscription revenue
Segment Reporting Information [Line Items]
Total revenue	15	25
Central Services Organization | Hardware and other revenue
Segment Reporting Information [Line Items]
Total revenue	$ 0	$ 37

Segment information - Reconcili

Segment information - Reconciliation of Segment Results to Income Before Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Adjusted EBITDA	$ 10,420	$ 12,518
Corporate and consolidation entries	(2,330)	(1,756)
Operating lease costs	(392)	(308)
Product development costs	(243)	(391)
Depreciation and amortization	(3,628)	(4,252)
Stock-based compensation costs	(293)	(111)
Increase in restructuring costs	(844)	0
Net profit on sale of equipment	(1)	316
Net foreign exchange gains/(losses)	(105)	47
Net interest income/(expense)	(70)	73
Income before income tax expense	2,514	6,136
Central Services Organization
Segment Reporting [Abstract]
Segment Adjusted EBITDA	(1,863)	(2,645)
Segment Reporting Information [Line Items]
Restructuring costs	600
Africa
Segment Reporting [Abstract]
Segment Adjusted EBITDA	7,245	$ 8,357
Segment Reporting Information [Line Items]
Restructuring costs	$ 200

Stock-based compensation plan -

Stock-based compensation plan - Narrative (Details) $ / shares in Units, $ in Thousands	Jun. 01, 2020shares	Jun. 30, 2020USD ($)plan$ / sharesshares	Jun. 30, 2019USD ($)	Mar. 31, 2014shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity-classified incentive plans | plan		2
Number of shares reserved for future issuance (in shares) | shares		47,090,000
Stock-based compensation expense | $		$ 293	$ 111
SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value (in dollars per share) | $ / shares		$ 0.14
Unrecognized compensation cost | $		$ 2,700
Expected period for recognition of unvested awards		4 years 9 months 21 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value (in dollars per share) | $ / shares		$ 0.29
Unrecognized compensation cost | $		$ 500
Expected period for recognition of unvested awards		2 years 9 months
Maximum shares to be granted (in shares) | shares		2,000,000		12,000,000
Number of shares granted (in shares) | shares	2,000,000
Award vesting percentage		50.00%
Estimated forfeiture rate		5.00%

Stock-based compensation plan_2

Stock-based compensation plan - Summary of Unvested SARs Activity (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Weighted- Average Award Price in U.S. Cents
Weighted average remaining contractual term, outstanding	3 years 11 months 19 days
SARs
Number of SARs
Unvested as of beginning of period (in shares) | shares	32,943,750
Granted (in shares) | shares	11,200,000
Exercised (in shares) | shares	(175,000)
Forfeited (in shares) | shares	(33,905)
Unvested as of end of period (in shares) | shares	43,934,845
Vested and expected to vest (in shares) | shares	42,310,470
Vested (in shares) | shares	11,447,345
Weighted- Average Award Price in U.S. Cents
Outstanding as of beginning of period (in dollars per share) | $ / shares	$ 0.30
Granted (in dollars per share) | $ / shares	0.34
Exercised (in dollars per share) | $ / shares	0.17
Forfeited (in dollars per share) | $ / shares	0.18
Outstanding as of end of period (in dollars per share) | $ / shares	0.31
Vested and expected to vest (in dollars per share) | $ / shares	0.31
Vested (in dollars per share) | $ / shares	$ 0.18
Weighted average remaining contractual term, vested and expected to vest	3 years 2 months 8 days
Weighted average remaining contractual term, vested	2 years 1 month 6 days
Aggregate intrinsic value, vested and expected to vest | $	$ 3,313
Aggregate intrinsic value, vested | $	$ 1,945

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	$ 2,550	$ 2,367
Net accounts receivables pledged as security	$ 3,000	$ 2,900

Debt - Schedule of Undrawn Faci

Debt - Schedule of Undrawn Facilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Line of Credit Facility [Line Items]
Undrawn borrowing remaining	$ 2,225	$ 3,631
Standard Bank Limited | Overdraft
Line of Credit Facility [Line Items]
Percentage deducted from interest rate	1.20%	1.20%
Undrawn borrowing remaining	$ 1,154	$ 1,204
Standard Bank Limited | Vehicle and asset finance
Line of Credit Facility [Line Items]
Percentage deducted from interest rate	1.20%	1.20%
Undrawn borrowing remaining	$ 492	$ 474
Standard Bank Limited | Working capital facility
Line of Credit Facility [Line Items]
Percentage deducted from interest rate		0.25%
Undrawn borrowing remaining	$ 0	$ 1,395
Nedbank Limited | Overdraft
Line of Credit Facility [Line Items]
Percentage deducted from interest rate	2.00%	2.00%
Undrawn borrowing remaining	$ 579	$ 558

Restructuring costs (Details)

Restructuring costs (Details) $ in Millions	3 Months Ended
	Jun. 30, 2020USD ($)
Central Services Organization
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0.6
Africa
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0.2
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0.8

Subsequent events (Details)

Subsequent events (Details)	3 Months Ended
	Jun. 30, 2020R / shares	Jun. 30, 2020$ / shares	Jun. 30, 2019R / shares	Jun. 30, 2019$ / shares
Subsequent Events [Abstract]
Dividends declared per share (in ZAR per share) | (per share)	R 0.04	$ 0.2	R 0.04	$ 0.3
Dividends declared per ADS (in ZAR per share)	R 1