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Sep 30, 2020
Powerfleet Q3 2020 Earnings Report
Reported a 7% sequential increase in total revenue, gross profit expansion, and profitability improvements.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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