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Dec 31, 2020
Powerfleet Q4 2020 Earnings Report
Powerfleet reported a solid finish to a very unpredictable 2020, delivering 7% sequential topline growth and improved profitability measures due to strategic initiatives and a leaner cost structure.
Key Takeaways
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.
Delivered 7% sequential topline growth.
Achieved a 4% sequential increase in high margin recurring and services revenue.
Improved GAAP and non-GAAP profitability measures.
Finished the year strong with new customer wins and a solid backlog of installations.
Powerfleet
Powerfleet
Powerfleet Revenue by Segment
Revenue by Segment
Services Revenue
CapyFin.comProduct Revenue
CapyFin.com Forward Guidance
End market demand for dry van, container, and cold chain mobility platforms is steadily improving in North America, and the company is gaining numerous cold chain and IoT pharma customers in Israel. As the global economy recovers, PowerFleet is positioned to leverage its scale and international footprint to capture a larger share of the industrial IoT market.
Positive Outlook
- End market demand for dry van, container, and cold chain mobility platforms is steadily improving in North America.
- Gaining numerous cold chain and IoT pharma customers in Israel.
- PowerFleet is well positioned to leverage its enhanced scale.
- PowerFleet has a strong balance sheet.
- PowerFleet has an expansive international footprint to effectively compete and win global tenders.
Revenue & Expenses
Visualization of income flow from segment revenue to net income