Loading...
•
Dec 31, 2022
Powerfleet Q4 2022 Earnings Report
Powerfleet reported a solid finish to a pivotal year, laying the groundwork for future growth, profitability, and expansion.
Key Takeaways
Powerfleet's Q4 2022 results showed a decrease in total revenue to $33.1 million compared to $34.4 million in the same period last year, but improvements in gross profit and a reduction in net loss. The company also saw growth in services revenue and a strong cash position at year-end.
Total revenue was $33.1 million, compared to $34.4 million in the same year-ago period.
Services revenue was $20.0 million, or 60% of total revenue, compared to $19.1 million, or 56% of total revenue, in the same year-ago period.
Net loss attributable to common stockholders totaled $2.9 million, or $(0.08) per basic and diluted share, compared to net loss attributable to common stockholders of $7.9 million, or $(0.23) per basic and diluted share, in the same year-ago period.
At quarter-end, the company had $18.0 million in cash and cash equivalents.
Powerfleet
Powerfleet
Powerfleet Revenue by Segment
Revenue by Segment
Services Revenue
CapyFin.comProduct Revenue
CapyFin.com Forward Guidance
Powerfleet anticipates generating sequential revenue growth in Q1, driven by robust double-digit growth from its U.S. industrial solutions, a trend they expect to continue through 2023.
Positive Outlook
- Sequential revenue growth anticipated in Q1.
- Robust double-digit growth expected from U.S. industrial solutions.
- Trend of growth in U.S. industrial solutions expected to continue through 2023.
- Executing on pipeline growth activities.
- Delivering on customer promises.
Challenges Ahead
- Expected revenue reduction related to ongoing strategic rationalization efforts.
Revenue & Expenses
Visualization of income flow from segment revenue to net income