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Genie is magic for Trakm8
If there was a bright spot in AA’s (AA.) painful profit warning and slashed dividend it comes in the shape of Car Genie. This is the self-installed plug-in road vehicle diagnostics box that the road-side recovery business has been testing. You may have seen the ads on TV.
AA reckons Car Genie is capable of predicting a third of breakdowns before they happen. Powering the solution is the fleet telematics network and analytics of AIM-listed Trakm8 (TRAK:AIM). The company saw its share price jump nearly 5% to 89.5p on the same day of AA’s update.
Analysts at broker FinnCap have crunched the numbers on the AA’s approximate 3.3m members and 1.9m insurance policies, and reckon there could be a £100m future revenue opportunity over the long-term for Trakm8 from this one contract alone.