Powerfleet Earnings Reports

Powerfleet achieved 42% year-over-year revenue growth in Q4 2025, driven by strong gains in service revenue and continued momentum in AI video and in-warehouse safety solutions.

Powerfleet reported a 4% increase in total revenue, reaching $34.5 million for Q4 2023, and a significant 110% YoY increase in AEBITDA. The company highlights its transformation to a SaaS-centric business model with service revenue increasing by 16% YoY. The merger with MiX Telematics is on track to commence on April 2, 2024.

Powerfleet reported Q3 2023 results with a 7% sequential increase in total revenue to $34.2 million, marking the highest revenue performance in four quarters. The company's transformation to a SaaS-centric business model continues, with high-margin service revenue increasing 11%. Adjusted EBITDA increased threefold due to cost reduction measures. A transformative business combination with MiX Telematics is expected to double revenue.

Powerfleet reported a decrease in total revenue, offset by an increase in service revenue. Gross profit margin expanded due to a shift towards high-margin services. The company is focused on transforming into a SaaS-centric business.

Powerfleet's first quarter 2023 saw a focus on profitable growth and SaaS recurring revenue expansion, with total revenue at $32.8 million. Services revenue increased to $20.4 million, representing 62% of total revenue. Gross profit margin expanded to 51%. Net income attributable to common stockholders was $3.5 million, or $0.10 per basic share.

Powerfleet's Q4 2022 results showed a decrease in total revenue to $33.1 million compared to $34.4 million in the same period last year, but improvements in gross profit and a reduction in net loss. The company also saw growth in services revenue and a strong cash position at year-end.

Powerfleet reported a 17% increase in revenue to $34.3 million and a 20% increase in gross profit. The company's transformation initiatives are enhancing efficiency and profitability, with a 23% sequential improvement in loss from operations.

Powerfleet reported a 10-quarter revenue high of $34.6 million, marking the third consecutive quarter of year-over-year revenue growth. The company's rationalization initiatives drove a 58% sequential improvement in loss from operations. High margin, recurring and services revenue were up 9% year-over-year to $19.8 million.

Powerfleet's first quarter 2022 results showed a 14% increase in total revenue year-over-year, driven by deployments with major customers and growth in core verticals and markets.

Powerfleet reported a strong finish to 2021 with a 17% increase in revenue compared to the same quarter last year, reaching $34.4 million. The company ended the year with $26.8 million in cash and cash equivalents and is focused on establishing itself as a mission-critical software provider.

PowerFleet reported a 6% increase in total revenue to $29.2 million and a 10% increase in recurring revenue for the third quarter of 2021. The company faced challenges due to cargo ship container backup and industry-wide electronic component shortages, but secured significant orders and launched new products.

Powerfleet reported a 30% increase in total revenue to $33.5 million, driven by a measurable pickup in new sales activity across geographic regions. The company's focus on predictable revenue streams resulted in an 11% year-over-year increase in high margin, recurring and services revenue. PowerFleet's financial performance reflects the continued execution of its long-term strategy to increase high margin recurring and services revenue.

Powerfleet reported total revenue of $29.0 million for Q1 2021, a decrease compared to $30.8 million in the same period last year. The company experienced a net loss attributable to common stockholders of $3.0 million, or $(0.09) per share, but achieved a non-GAAP net income of $61,000, or $0.00 per share. Despite revenue being impacted by supply issues, the company saw increased sales activity and backlog.

Powerfleet's Q4 2020 results showed a decrease in total revenue compared to the same period last year, but the company saw sequential topline growth and improved profitability measures due to strategic initiatives and cost optimization. The company reported a net loss but a non-GAAP net income.

PowerFleet reported strong financial results for Q3 2020, demonstrating business resilience and focus on profitable growth. Total revenue increased by 7% sequentially to $27.6 million, driving gross profit expansion and profitability improvements. The company generated $3.6 million in adjusted EBITDA, marking the highest quarterly level since the acquisition of Pointer.

Powerfleet reported solid Q2 2020 results with $25.8 million in revenue and $2.1 million in adjusted EBITDA, demonstrating the resilience of its financial model despite COVID-19 headwinds. The company secured significant deals in the Logistics business and extended its partnership with Jungheinrich. With a strong subscriber base and $21.5 million in cash, Powerfleet is confident in its ability to navigate the uncertain environment.

Powerfleet reported a revenue of $30.8 million for Q1 2020, compared to $13.6 million in the same period last year. The company experienced some order postponements in late March due to the COVID-19 pandemic but maintained profitability through recurring and services revenue. They are implementing cost-saving measures to ensure financial stability.

Powerfleet reported a strong Q4 2019 with record revenue of $35.1 million, a 17% increase year-over-year on a pro forma basis. The company is integrating Pointer, securing new customer wins, and focusing on recurring revenue growth and cost savings.