PowerFleet Inc

PowerFleet, Inc. engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets. It operates through the following geographical segments: United States, Israel, and Other. The company was founded in 1993 and is headquartered in Woodcliff Lake, NJ.

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PowerFleet Inc reports robust Q4 performance and strategic acquisitions

PowerFleet Inc demonstrated strong financial performance and operational improvements in Q4 2022, driven by revenue growth, enhanced profitability, and strategic acquisitions.
The company's focus on cost optimization, revenue diversification, and market expansion underscores its commitment to sustainable growth and market leadership.
Despite challenges such as FX impacts and terminated contracts, PowerFleet's resilience, strategic initiatives, and positive outlook position it for continued success and value creation.
By leveraging strengths in SaaS solutions, data science capabilities, and market positioning, PowerFleet is poised to capitalize on growth opportunities, drive innovation, and deliver long-term shareholder value.

PowerFleet reports revenue growth and margin expansion in Q1

PowerFleet's Q1 performance reflects revenue growth, margin expansion, and financial strength, driven by strategic acquisitions and cost-saving initiatives.
While facing challenges like a lengthening sales cycle and M&A expenses, the company remains confident in its ability to deliver value to customers.
Opportunities lie in driving organic growth, expanding market channels, and implementing operational efficiencies to sustain growth and profitability.

PowerFleet Inc reports robust Q2 results and eyes sustainable growth

PowerFleet Inc's Q2 2023 performance reflects strong revenue growth, improved margins, and successful transition to recurring software sales, positioning the company for future success.
While facing challenges from external factors and integration goals, PowerFleet's strategic strengths, focus on growth opportunities, and confidence in its approach bode well for sustained growth.
By leveraging its core markets, expanding channels, and driving software revenue growth, PowerFleet is poised to achieve its services growth targets and capitalize on emerging opportunities.

PowerFleet Inc (PWFL) reports strong Q3 results and outlines growth strategy

PowerFleet Inc (PWFL) demonstrated robust financial performance, strategic focus, and growth potential in Q3, positioning the company for future success.
Management's emphasis on operational excellence, market expansion, and shareholder value creation underscores a commitment to sustainable growth.
Despite challenges in specific markets and competitive pricing dynamics, PowerFleet remains poised to capitalize on opportunities for revenue growth and market leadership.

PowerFleet Inc reports robust Q4 performance and growth opportunities

PowerFleet Inc's strong performance in revenue growth and EBITDA, driven by strategic acquisitions and the Unity platform, sets the stage for significant expansion.
While operational challenges exist in achieving profitability targets amidst growth, the company's focus on customer value and integration synergies bodes well for future success.
Opportunities lie in market expansion, customer relationship enhancement, and operational efficiency improvements, positioning PowerFleet for sustained growth and profitability.
Confidence in successful integration with MiX Telematics and shareholder support underscore PowerFleet's strategic direction and commitment to creating long-term value.

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Powerfleet Inc NJ

WOODCLIFF LAKE, N.J. , July 30, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: AIOT) today announced that it will hold a conference call on Thursday, August 8, 2024, at 8:30 a.m.

Powerfleet Sets First Quarter Fiscal 2025 Conference Call for Thursday, August 8, 2024, at 8:30 a.m. ET

Reiterates Revenue and Adjusted EBITDA Guidance for Twelve Months Ending March 31, 2024 and 2025 WOODCLIFF LAKE, N.J. , July 25, 2024 /PRNewswire/ -- Powerfleet , Inc. (Nasdaq: AIOT) today announced that, on July 19, 2024, the audit committee of Powerfleet's board of directors approved the appointment of Deloitte & Touche, the incumbent auditor of MiX Telematics Ltd.

Powerfleet Appoints Deloitte & Touche as Independent Auditor

WOODCLIFF LAKE, N.J., June 21, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry, today announced that management is scheduled to meet with investors to discuss how Powerfleet is driving meaningful business change for its customers and underpinning their digital transformation at the Northland Capital Markets Growth Conference on Tuesday, June 25, 2024.

Powerfleet to attend Northland Capital Markets Growth Conference 2024

Leveraging Unity has harmonized disconnected data sources and provided real-time visibility of marine drayage assets across North America WOODCLIFF LAKE, N.J. , June 20, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today announced IMC Logistics, LLC, the largest marine drayage provider in the United States, has deployed its SaaS-based, data-agnostic platform,  Unity.

IMC Logistics, LLC Deploys Powerfleet's Unity Platform

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SEATTLE--(BUSINESS WIRE)--Frazier Healthcare Partners, a leading private equity firm focused exclusively on the healthcare industry, is pleased to announce the additions of three experienced professionals to its Center of Excellence: Sanji Fernando, Partner – Data & Artificial Intelligence, Steve Blackhart, Vice President – Corporate Development, and Lindsey Murphy, Director – Sales Operations. Frazier continues to focus on the strategic expansion of its dedicated Center of Excellence (CoE).

Frazier Healthcare Partners Adds Three New Team Members to Its Center of Excellence

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Ticker Symbol Changing to AIOT with July 1 st Market Open WOODCLIFF LAKE, N.J. , June 10, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today announced that they are set to join the small-cap Russell 2000® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1, 2024, according to a preliminary list of additions posted Friday, May 24, 2024.

Powerfleet Set to Join Russell 2000® Index

NEW YORK, NY / ACCESSWIRE / June 1, 2024 / Pomerantz LLP is investigating claims on behalf of investors of PowerFleet, Inc. ("PowerFleet" or the "Company") (NASDAQ:PWFL). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of PowerFleet, Inc. - PWFL

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The average of price targets set by Wall Street analysts indicates a potential upside of 60.9% in PowerFleet (PWFL). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Wall Street Analysts Think PowerFleet (PWFL) Could Surge 60.88%: Read This Before Placing a Bet

WOODCLIFF LAKE, N.J. , May 23, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry, today announced that Powerfleet management is scheduled to present and meet with investors to discuss how Powerfleet is driving meaningful business change for its customers and underpinning their digital transformation at the following Spring 2024 investor conferences: 21st Annual Craig-Hallum Institutional Investor Conference, on May 29 th The William Blair Growth Stock Conference, on June 4 th at 2:00pm CT The link to the live webcast of Powerfleet's presentation at the William Blair conference will be available by visiting Powerfleet's website at https://ir.powerfleet.com/events-presentations/events.

Powerfleet to Present at Spring 2024 Conferences

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The recipients were recognized this week at the company's annual customer conference for their exemplary innovation and business transformation in their respective fields WOODCLIFF LAKE, N.J. , May 16, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today has announced the winners of its first-ever Customer Awards at Heartbeat, its annual customer conference, now in its second year.

Inaugural Customer Awards Debuted at Powerfleet's Heartbeat Conference

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

Is PowerFleet (PWFL) a Buy as Wall Street Analysts Look Optimistic?

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Files 10-K for the Year Ended December 31, 2023 Reiterates Revenue and Adjusted EBITDA Guidance for Twelve Months Ended March 31, 2024 WOODCLIFF LAKE, N.J. , May 9, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today announced that its board of directors has determined to change its fiscal year end to March 31 from December 31, effective immediately.

Powerfleet Announces Change of Fiscal Year End

The mean of analysts' price targets for PowerFleet (PWFL) points to a 61.8% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts Believe PowerFleet (PWFL) Could Rally 61.8%: Here's is How to Trade

WOODCLIFF LAKE, N.J. , April 30, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today announced that Andrew Martin of Private Capital Management, LLC ("PCM"), one of the company's largest shareholders, has joined its board of directors as an independent member of the board.

Powerfleet Appoints Andrew Martin to Board of Directors

WOODCLIFF LAKE, N.J. , April 16, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) will host a virtual fireside chat for analysts and shareholders 30 days into the business combination with MiX Telematics, which created a top-tier global AIoT SaaS provider with total revenue of $284 million and EBITDA of $43 million, as well as the opportunity to reach Rule of 40 performance within two years.

Powerfleet to Host Virtual Analyst and Investor Fireside Chat on April 30, 2024

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Unity Platform Celebrated for its Innovative AIoT Capabilities WOODCLIFF LAKE, N.J. , April 9, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today was announced as a finalist by the Business Intelligence Group for the Artificial Intelligence Excellence Awards program.

Powerfleet Selected as an Artificial Intelligence Excellence Awards Finalist

WOODCLIFF LAKE, N.J. , April 5, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today announced its intention to adjust its historical accounting treatment for the redemption premium associated with its Series A convertible preferred stock, which was fully redeemed in connection with the closing of the Company's business combination with MiX Telematics Limited on April 2, 2024, due to a technical accounting issue.

POWERFLEET ANNOUNCES RESTATEMENT OF ACCOUNTING TREATMENT OF LEGACY CONVERTIBLE PREFERRED STOCK INSTRUMENT, WHICH HAS NO ADVERSE IMPACT ON PREVIOUSLY REPORTED REVENUE, CASH FLOW OR ADJUSTED EBITDA

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A Scaled Day-One Business with Total Revenue of $284 Million, Including $215 Million of Recurring High-Margin SaaS Revenues and Combined Service Gross Margins of 65% Combined Customer Base Begins with More than 1.8m Subscribers In Addition to a Significant Growth Opportunity, Combination Expected to Unlock a Compelling $25m+ EBITDA Expansion Within First Two Years Expected to Deliver Significant Cross-Sell and Upsell Opportunities for Combined Solution Portfolio into Joint Base of 7,500 Enterprise Customers Virtual Investor Fireside Chat Scheduled for 9:30 AM ET on Tuesday, April 30, 2024 WOODCLIFF LAKE, N.J., April 2, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) and MiX Telematics Limited have successfully closed their previously announced business combination, forming one of the world's largest mobile asset Artificial Intelligence of Things (AIoT) Software-as-a-Service (SaaS) providers.

News for PowerFleet Inc Stock (PWFL)