Samir Patel, Portfolio Manager at Askeladden Capital, joins the podcast to discuss Mix Telematics (MIXT) and why he sent a letter to the company pushing for change.
Askeladden's letter to MIXT: https://www.accesswire.com/723191/Askeladden-Capital-Announces-Activist-Position-in-MiX-Telematics-NYSEMIXT
Chapters
- 0:00 Intro
- 2:50 MIXT Overview
- 5:45 MIXT's hardware to subscription switch
- 9:30 The economics of a MIXT subscription
- 12:30 What's the moat that prevents competitors entering the market?
- 18:30 MIXT retention and churn
- 21:00 MIXT high level valuation
- 24:20 Precedent comps for MIXT
- 27:30 Why did Askeladden send a letter to MIXT?
- 35:45 Digging into MIXT's lack of growth and margin expansion
- 39:15 MIXT's history of missing long term targets
- 43:45 Would a PE takeout make sense for MIXT?
- 46:00 MIXT's sales force
- 48:30 Tracking MIXT's progress in the near term
- 56:45 MIXT's recent chairman resignation and insider sales
