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Sep 30, 2022
Powerfleet Q3 2022 Earnings Report
Reported a 17% increase in revenue, a 20% increase in gross profit, and solid adjusted EBITDA profitability due to excellent execution in Q3.
Key Takeaways
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.
Delivered 17% revenue growth.
Achieved 20% gross profit growth.
Reported solid adjusted EBITDA profitability.
Experienced a 23% sequential improvement in loss from operations.
Powerfleet
Powerfleet
Powerfleet Revenue by Segment
Revenue by Segment
Services Revenue
CapyFin.comProduct Revenue
CapyFin.com Forward Guidance
Powerfleet expects to deliver greater business success in 2023 and beyond.
Positive Outlook
- Enhanced leadership team has brought in a strong execution focus.
- Accelerated and consistent headway enhancing organizational efficiencies.
- Driving SaaS transformation.
- Refocusing the company’s core go-to-market strategy.
- Realizing the benefits from fully integrating acquired companies and combining our extensive technology capabilities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income