Powerfleet Q3 2020 Earnings Report
Key Takeaways
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.
Total revenue increased 7% sequentially to $27.6 million.
Gross profit increased 6% sequentially.
Adjusted EBITDA increased 71% sequentially, reaching $3.6 million.
Net loss improved compared to the prior quarter.
Powerfleet
Powerfleet
Powerfleet Revenue by Segment
Forward Guidance
PowerFleet has 570,000 subscribers and expects high-margin recurring services and subscription revenues. The company has a strong financial foundation with $21 million of cash.
Positive Outlook
- 570,000-subscriber base provides high-margin recurring services and subscription revenues.
- Strong financial foundation with $21 million of cash.
- Consistent cash flow generation.
- Diversified and stable plan to execute growth strategy.
- Confident in continued ability to execute strategy.