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Mar 31
Powerfleet Q4 2024 Earnings Report
Powerfleet reported strong Q4 performance with significant revenue and EBITDA growth.
Key Takeaways
Powerfleet achieved 42% year-over-year revenue growth in Q4 2025, driven by strong gains in service revenue and continued momentum in AI video and in-warehouse safety solutions.
Q4 revenue reached $103.6 million, up 42% YoY.
Service revenue increased 49% to $81.8 million.
Adjusted EBITDA rose 84% to $20.4 million.
Adjusted gross margin exceeded 60%, reflecting product and service improvements.
Powerfleet
Powerfleet
Powerfleet Revenue by Segment
Revenue by Segment
Services Revenue
CapyFin.comProduct Revenue
CapyFin.com Forward Guidance
Powerfleet enters FY26 as a more focused, SaaS-centric company with momentum in high-value segments and international expansion.
Positive Outlook
- Strong AI video and in-warehouse safety solution demand.
- International operations grew organically by 13%.
- Strategic exit from low-quality revenue sources.
- Unity platform driving customer value.
- Expanded sales coverage and partner network.
Challenges Ahead
- Macroeconomic headwinds remain a concern.
- Q4 included $7.5 million in one-time costs.
- Operating loss persisted despite revenue gains.
- Product margin remains below 30%.
- Net debt stood at $225 million, limiting flexibility.
Revenue & Expenses
Visualization of income flow from segment revenue to net income