The prospectus for Eroad's up to $50 million float shows a fast-growing technology company which has already turned a profit.
Eroad, which has developed technology to manage road user charges for trucks and provides other services, has been cashflow positive at the operating level since 2011.
It claims about 22 percent of its market in New Zealand and recently launched in Oregon in the United States where its technology is already carried in about 200 trucks.
Major shareholder and chief executive Steven Newman, who was previously Navman's chief executive, said the more than 90 percent sales growth his company was forecasting for the current year and the near 80 percent growth the following year were conservative estimates.
He said in terms of hitting next year's targets, about 56 percent of it was already booked in terms of returning revenue.
There was a 23 percent increase in New Zealand subscriber numbers year on year.
