Earnings per share (Tables)

3 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Basic Earnings Per Share

The net income and weighted 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,
	2022		2023
Ordinary shares:
Numerator (basic)
Net income attributable to MiX Telematics Limited stockholders	$	678	$	1,608
Denominator (basic)
Weighted-average number of ordinary shares in issue and outstanding	551,367		554,841
Basic earnings per share	$	0.001	$	0.003
American Depositary Shares*:
Numerator (basic)
Net income attributable to MiX Telematics Limited stockholders	$	678	$	1,608
Denominator (basic)
Weighted-average number of American Depositary Shares in issue and outstanding	22,055		22,194
Basic earnings per American Depositary Share	$	0.03	$	0.07
*One American Depositary Share is the equivalent of 25 ordinary shares.

Schedule of Diluted Earnings Per Share

	Three Months Ended June 30,
	2022		2023
Ordinary shares:
Numerator (diluted)
Diluted net income attributable to MiX Telematics Limited stockholders	$	678	$	1,608
Denominator (diluted)
Weighted-average number of ordinary shares in issue and outstanding	551,367		554,841
Adjusted for:
– potentially dilutive effect of stock appreciation rights	3,551		—
– potentially dilutive effect of restricted share units	1,747		623
Diluted-weighted average number of ordinary shares in issue and outstanding	556,665		555,464
Diluted earnings per share	$	0.001	$	0.003
American Depositary Shares*:
Numerator (diluted)
Diluted net income attributable to MiX Telematics Limited stockholders	$	678	$	1,608
Denominator (diluted)
Weighted-average number of American Depositary Shares in issue and outstanding	22,055		22,194
Adjusted for:
– potentially dilutive effect of stock appreciation rights	142		—
– potentially dilutive effect of restricted share units	70		25
Diluted weighted-average number of American Depositary Shares in issue and outstanding	22,267		22,219
Diluted earnings per American Depositary Share	$	0.03	$	0.07
*One American Depositary Share is the equivalent of 25 ordinary shares.