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Mar 31, 2021
Powerfleet Q1 2021 Earnings Report
Estimated Revenue:$20.7M
+115.2% YoY
Estimated EPS:-$0.07
1043.4% YoY
Key Takeaways
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.
Total revenue was $29.0 million, compared to $30.8 million in the same year-ago period.
Services revenue was $17.6 million (61% of total revenue), consistent with the same period last year.
Product revenue was $11.4 million (39% of total revenue), compared to $13.2 million in the same year-ago period.
Net loss attributable to common stockholders totaled $3.0 million or $(0.09) per basic and diluted share, compared to net loss of $4.5 million or $(0.16) per share in the same year-ago period.
Powerfleet
Powerfleet
Powerfleet Revenue by Segment
Revenue by Segment
Services Revenue
CapyFin.comProduct Revenue
CapyFin.com Forward Guidance
Powerfleet anticipates growth prospects in 2021 and beyond, driven by global end markets, legacy product migration, and a strong opportunity pipeline, despite ongoing pandemic-related headwinds and electrical subcomponent supply issues.
Positive Outlook
- Global end markets are building momentum.
- Legacy product migration efforts are underway.
- Opportunity pipeline is strong.
- Robust balance sheet enables acceleration of growth initiatives.
- Making great strides toward long-term financial goals.
Challenges Ahead
- Facing headwinds related to the pandemic.
- Experiencing electrical subcomponent supply issues.
- Revenue impacted by temporary supply issue due to a third-party electrical component supplier.
- Reduction in product revenue from Avis.
- Impact from COVID-19.
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Key Statistics
Market Cap
$623M
P/E Ratio
-13.78
Sector
Electronic Technology
Industry
Telecommunications Equipment
52-Week High
$8.48
52-Week Low
$3.79