Third Quarter 2012 Operating Highlights
- Fleetmatics ended the third quarter of 2012 with 303,000 active vehicles under subscription, up 40% compared to 217,000 during the third quarter of 2011.
- Net churn during the third quarter was negative 2.1% compared to negative 0.6% during the third quarter of 2011. We calculate our net churn for a period by dividing (i) the number of vehicles under subscription added from existing customers less vehicles under subscription lost from existing customers over that period by (ii) the total vehicles under subscription at the beginning of that period. The negative net churn in each period means we added more vehicles from existing customers than we lost from those customers during the particular period.