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. (PWFL) Q4 2023 Earnings Call Transcript

PowerFleet (PWFL) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to earnings of $0.01 per share a year ago.

PowerFleet (PWFL) Reports Q4 Loss, Tops Revenue Estimates

Fourth quarter total revenue of $34.5 million, up 9% YoY (constant currency), posting the best revenue quarter result in six quarters Fourth quarter service revenue increased 16% YoY (constant currency) and full year '23 service revenue increased 14% YoY (constant currency), demonstrating the company's transformation to a SaaS-centric business model Fourth quarter AEBITDA increased 110% YoY while second half '23 AEBITDA increased by 141% versus first half 2023, reflecting strong gross margins and lower adjusted cash operating expenses Resounding support from shareholders and financing finalized for the business combination with MiX Telematics, with the new combined entity on track to commence on April 2, 2024 WOODCLIFF LAKE, N.J. , March 12, 2024 /PRNewswire/ --  Powerfleet, Inc.  (Nasdaq: PWFL), reported results for the fourth quarter and full year ended December 31, 2023.

Powerfleet Reports Full Year 2023 and Fourth Quarter Financial Results

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WOODCLIFF LAKE, N.J. , Feb. 28, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) and MiX Telematics Limited (NYSE: MIXT, JSE: MIX) today announced they have received shareholder approval on the proposals related to the previously announced business combination between the parties.

Powerfleet and MiX Telematics Receive Shareholder Approval for Proposed Business Combination

WOODCLIFF LAKE, N.J. , Feb. 27, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) will hold a conference call on Tuesday, March 12, 2024, at 8:30 a.m.

Powerfleet Sets Fourth Quarter and Full Year 2023 Conference Call for Tuesday, March 12, 2024, at 8:30 a.m. ET

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Completion of Regulatory Milestones Results in Scheduled Shareholders Meetings WOODCLIFF LAKE, N.J. , Jan. 30, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) and MiX Telematics Limited (NYSE: MIXT, JSE: MIX) today announced that their respective shareholders meetings will be held virtually on Wednesday, February 28, 2024 to vote on the proposed business combination between the parties.

Powerfleet and MiX Telematics Announce Shareholders Meetings to Vote on Proposed Business Combination

The Pedestrian Proximity Detection offering meets growing demand to create safer workplaces worldwide WOODCLIFF LAKE, N.J. , Dec. 7, 2023 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today launched its next-generation Pedestrian Proximity Detection solution, an artificial intelligence (AI)-powered safety system that proactively prevents accidents, bolsters pedestrian safety, and mitigates damage to material handling equipment (MHE) within warehouses and manufacturing facilities.

Powerfleet Launches AI-Powered Solution to Revolutionize Pedestrian Safety

ABI Research released commercial video telematics report recognizing Powerfleet for its innovation WOODCLIFF LAKE, N.J. , Dec. 5, 2023 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today announced it was named a top innovator in ABI Research's Commercial Video Telematics Competitive Ranking.

Powerfleet Named a Top Innovator by ABI Research

BOCA RATON, Fla. & WOODCLIFF LAKE, N.J.--(BUSINESS WIRE)--MiX Telematics Limited (NYSE: MIXT, JSE: MIX) and Powerfleet (Nasdaq: PWFL) announced that they will be presenting at the Raymond James TMT and Consumer Conference being held December 4-6, 2023, at the Lotte New York Palace in New York, NY. MiX Telematics CEO Stefan Joselowitz and CFO Paul Dell alongside Powerfleet CFO David Wilson will be attending the event. MiX Telematics and Powerfleet previously announced a business combination, whi.

MiX Telematics and Powerfleet to Present at the Raymond James TMT and Consumer Conference on December 5, 2023

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PowerFleet, Inc. (PWFL) Q3 2023 Earnings Call Transcript

Q3 2023 total revenue increased 7% sequentially to $34.2 million, marking the highest revenue performance in four quarters Company's SaaS-centric business model transformation continues at pace with high-margin service revenue increasing 11% in Q3 2023 and 14% for the year to date compared to prior year periods (constant currency) AEBITDA increased threefold following the execution of annualized $4 million cost reduction measures to absorb AI and data science talent acquired with the Movingdots transaction North America total business grew 12% year over year in the quarter leading to service revenue YTD growth of 15%, reflecting the adoption of the Unity data platform for new and existing customers Previously announced transformative business combination with MiX Telematics expected to double revenue and provide the foundation for future Rule of 40 financial performance WOODCLIFF LAKE, N.J. , Nov. 9, 2023 /PRNewswire/ -- Powerfleet, Inc.  (Nasdaq: PWFL), reported results for the third quarter and nine months ended September 30, 2023.

Powerfleet Reports Third Quarter and Nine Month 2023 Financial Results

PowerFleet (PWFL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate PowerFleet (PWFL) to Report a Decline in Earnings: What to Look Out for

National campaign is aimed at developing solutions to reduce serious injuries and create a future with zero roadway fatalities WOODCLIFF LAKE, N.J. , Nov. 2, 2023 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today announced it has joined a U.S. Department of Transportation initiative to reduce the rising number of serious injuries and deaths on America's highways, roads, and streets.

Powerfleet Joins U.S. Department of Transportation Effort to Improve Road Safety

WOODCLIFF LAKE, N.J. , Oct. 31, 2023 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL), will hold a conference call on Thursday, November 9, 2023 at 8:30 a.m.

Powerfleet Sets Third Quarter 2023 Conference Call for Thursday, November 9, 2023 at 8:30 a.m. ET

WOODCLIFF LAKE, N.J. , Oct. 30, 2023 /PRNewswire/ -- PowerFleet, Inc. (Nasdaq: PWFL) and MiX Telematics Limited (NYSE: MIXT, JSE: MIX) will host a joint Investor Day with financial analysts and institutional investors on Thursday, November 16 at The InterContinental New York Barclay hotel in New York, NY.

Powerfleet and MiX Telematics to Host Joint Investor Day on November 16, 2023

Data insights from IoT devices and SaaS platform for fleet management strengthens business operations for world-renowned construction contractor WOODCLIFF LAKE, N.J. , Oct. 24, 2023 /PRNewswire/ -- Keller North America  deployed Powerfleet's (Nasdaq: PWFL) SaaS-based fleet intelligence platform, Unity, alongside its Logistics Gateway.

Keller North America Delivers on Brand Promise with Powerfleet

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed merger of PowerFleet, Inc. (NasdaqGM: PWFL) with MiX Telematics Limited (NYSE: MIXT). pursuant to which PowerFleet shareholders will end up owning just 35% of the combined company. KSF is seeking to determine whether the merger and the process that led to it are adequate, or whether the merger undervalues the Company.

POWERFLEET INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of PowerFleet, Inc. - PWFL

PowerFleet Inc has announced a merger with South African fleet manager MiX Telematics to form what they said will be one of the largest mobile asset Internet of Things (IoT) Software-as-a-Service (SaaS) providers worldwide. In a statement, the companies said the combination “will form a scaled, global entity of choice focused on helping customers save lives, time, and money by solving mission-critical business challenges including safety and risk management, compliance, sustainability, and operational efficiency.

PowerFleet soars on news of merger with MiX Telematics to form global IoT giant

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of PowerFleet, Inc. (NASDAQ: PWFL) and MiX Telematics Limited is fair to PowerFleet shareholders. Upon completion of the proposed transaction, current PowerFleet shareholders will own approximately 35% of the combined company. Halper Sadeh encourages PowerFleet shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212.

News for PowerFleet Inc Stock (PWFL)