PowerFleet, Inc. provides wireless Internet-of-Things and machine-to-machine solutions in the United States, Israel, and internationally. The company offers industrial solutions, such as on-premise or in-facility asset and operator management, monitoring, and visibility for industrial trucks, such as forklifts, man-lifts, tuggers, and ground support equipment at airports. It also provides logistic solutions, including bumper-to-bumper asset management, monitoring, and visibility for heavy trucks, dry-van trailers, refrigerated trailers, shipping containers, etc., as well as associated cargos; and mobile-asset tracking and condition-monitoring solutions. In addition, the company offers vehicle solutions to enhance the vehicle fleet management process. Further, it provides hosting, maintenance, and support and consulting services; and Software as a Service, including system monitoring, help desk technical support, escalation procedure development, routine diagnostic data analysis, and software updates services. The company offers its products under the PowerFleet, Pointer, and Cellocator brands. It sells its products to commercial and government sectors in automotive manufacturing, retail, food and grocery distribution, pharmaceutical and medical distribution, logistics, shipping, freight transportation, heavy industry, wholesale distribution, manufacturing, aerospace and defense, homeland security, and vehicle rental markets, as well as through indirect sales channels, such as original equipment manufacturers, vehicle importers, distributors, and industrial equipment dealers. The company was formerly known as I.D. Systems, Inc. PowerFleet, Inc. was incorporated in 1993 and is headquartered in Woodcliff Lake, New Jersey.
IPO Year:
Exchange: NASDAQ
Website: powerfleet.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/3/2024 | Outperform | William Blair | |
| 4/2/2024 | $7.00 | Outperform | Raymond James |
| 3/18/2024 | $7.00 | Outperform | Northland Capital |
| 3/15/2024 | $9.00 | Buy | Craig Hallum |
| 5/10/2022 | Outperform → Mkt Perform | Barrington Research | |
| 3/10/2022 | $12.00 → $9.00 | Buy | Canaccord Genuity |
WOODCLIFF LAKE, N.J., Oct. 30, 2024 /PRNewswire/ -- Powerfleet, Inc. (NASDAQ:AIOT) today announced that it will hold a conference call on Tuesday, November 12, 2024, at 8:30 a.m. Eastern time (5:30 a.m. Pacific time) to discuss results for the second quarter fiscal 2025 ended September 30, 2024. Financial results will be issued in a press release prior to the call. Powerfleet management will host the presentation, followed by a question-and-answer session. Date: Tuesday, November 12, 2024Time: 8:30 a.m. Eastern time (5:30 a.m. Pacific time)Toll Free: 888-506-0062International:
WOODCLIFF LAKE, N.J., Oct. 7, 2024 /PRNewswire/ -- Powerfleet, Inc. (NASDAQ:AIOT) will host an Investor Day with financial analysts and institutional investors on Wednesday, November 20 on location at Sofitel New York in New York, NY as well as virtually. Presentations are scheduled to begin at 1:00 p.m. Eastern time and end at approximately 4:00 p.m. Eastern time, preceded by a 12:00 p.m. lunch. Senior leaders from the Powerfleet and Fleet Complete teams will share the compelling strategic, operating and financial benefits of the transformative Fleet Complete transaction as w
Acquisition Expected to Create a $400m+ Revenue Company, Including $300m+ of Recurring SaaS Revenue, $85m EBITDA, and Significant Expansion Opportunities WOODCLIFF LAKE, N.J., Oct. 1, 2024 /PRNewswire/ -- Powerfleet, Inc. (NASDAQ:AIOT) has successfully closed the previously announced acquisition of Fleet Complete, a prominent player in connected vehicle technology and fleet management. With 2.6 million total combined subscribers and forecasted combined revenue of over $400 million, including more than $300 million of recurring SaaS revenue, this transformative acquisition is e
WOODCLIFF LAKE, N.J., Sept. 25, 2024 /PRNewswire/ -- Powerfleet, Inc. (NASDAQ:AIOT) will host a fireside chat with analysts and investors on October 2 at 8.30 a.m. Eastern Time, to discuss the previously announced acquisition of Fleet Complete by Powerfleet, which immediately creates an undisputed top tier leader in the global AIoT SaaS industry. Attendees will hear from key members of the Powerfleet and Fleet Complete leadership teams as they discuss their excitement for the combination's enhanced market position, focusing on the better together plan for customers, shareholde
Sets First Quarter Fiscal 2025 Conference Call for Thursday, August 22, 2024, at 8:30 a.m. ET Expects to File Transition Report on Form 10-KT for the transition period ended March 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 on or before August 23rd WOODCLIFF LAKE, N.J., Aug. 19, 2024 /PRNewswire/ -- Powerfleet, Inc. (NASDAQ:AIOT) today announced that, on August 16, 2024, it received a letter from the U.S. Securities and Exchange Commission (SEC) indicating that the SEC has completed its review regarding Powerfleet's determination that it is the accounting acquirer in the recent business combination with MiX Telematics Ltd.
Submitted response to previously announced SEC comment letter involving non-cash accounting issue; targeting to resolve matter within the month of August WOODCLIFF LAKE, N.J., Aug. 16, 2024 /PRNewswire/ -- Powerfleet, Inc. (NASDAQ:AIOT) today announced that on August 8 and August 15, 2024, the Company received, as expected, written notices from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it did not timely file its Transition Report on Form 10-KT for the transition period ended March 31, 2024 (the "Form 10-KT") and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 (the "Form 10-Q"), as required for continued l
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. Eastern time (5:30 a.m. Pacific time) to discuss results for the first quarter fiscal 2025 ended June 30, 2024. This will represent the first quarterly report for the combined company following Powerfleet's combination with Mix Telematics Ltd. Financial results will be issued in a press release prior to the call. Powerfleet management will host the presentation, followed by a question-and-answer session
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., as its independent registered public accounting firm for the fiscal year ending March 31, 2025 subject to satisfactory completion of Deloitte & Touche's client acceptance procedures, which are in the process of being completed.
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. The link to the investor presentation will be available by visiting Powerfleet's website at https://ir.powerfleet.com/events-presentations/presentations.
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. Through using Unity's data highway, large amounts of data can now be ingested, harmonized, and simplified within a single pane of glass, offering actionable insights and real-time visibility of IMC's unpowered and untethered assets across hundreds of locations in North America.
8-K - Powerfleet, Inc. (0001774170) (Filer)
11-K - Powerfleet, Inc. (0001774170) (Filer)
8-K/A - Powerfleet, Inc. (0001774170) (Filer)
8-K - Powerfleet, Inc. (0001774170) (Filer)
SD - Powerfleet, Inc. (0001774170) (Filer)
10-K - Powerfleet, Inc. (0001774170) (Filer)
8-K - Powerfleet, Inc. (0001774170) (Filer)
8-K - Powerfleet, Inc. (0001774170) (Filer)
8-K - Powerfleet, Inc. (0001774170) (Filer)
8-K - Powerfleet, Inc. (0001774170) (Filer)
William Blair initiated coverage of PowerFleet with a rating of Outperform
Raymond James initiated coverage of PowerFleet with a rating of Outperform and set a new price target of $7.00
Northland Capital initiated coverage of PowerFleet with a rating of Outperform and set a new price target of $7.00
Craig Hallum initiated coverage of PowerFleet with a rating of Buy and set a new price target of $9.00
Barrington Research downgraded PowerFleet from Outperform to Mkt Perform
Canaccord Genuity reiterated coverage of PowerFleet with a rating of Buy and set a new price target of $9.00 from $12.00 previously
Lake Street Capital reiterated coverage of PowerFleet with a rating of Buy and set a new price target of $11.00 from $9.00 previously
Roth Capital reiterated coverage of PowerFleet with a rating of and set a new price target of $10.00 from $9.50 previously
Roth Capital reiterated coverage of PowerFleet with a rating of and set a new price target of $9.50 from $8.50 previously
4 - Powerfleet, Inc. (0001774170) (Issuer)
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4/A - Powerfleet, Inc. (0001774170) (Issuer)
4/A - Powerfleet, Inc. (0001774170) (Issuer)
4/A - Powerfleet, Inc. (0001774170) (Issuer)
4 - Powerfleet, Inc. (0001774170) (Issuer)
4 - Powerfleet, Inc. (0001774170) (Issuer)
4 - Powerfleet, Inc. (0001774170) (Issuer)
4 - Powerfleet, Inc. (0001774170) (Issuer)
WOODCLIFF LAKE, N.J., Oct. 30, 2024 /PRNewswire/ -- Powerfleet, Inc. (NASDAQ:AIOT) today announced that it will hold a conference call on Tuesday, November 12, 2024, at 8:30 a.m. Eastern time (5:30 a.m. Pacific time) to discuss results for the second quarter fiscal 2025 ended September 30, 2024. Financial results will be issued in a press release prior to the call. Powerfleet management will host the presentation, followed by a question-and-answer session. Date: Tuesday, November 12, 2024Time: 8:30 a.m. Eastern time (5:30 a.m. Pacific time)Toll Free: 888-506-0062International:
WOODCLIFF LAKE, N.J., Sept. 25, 2024 /PRNewswire/ -- Powerfleet, Inc. (NASDAQ:AIOT) will host a fireside chat with analysts and investors on October 2 at 8.30 a.m. Eastern Time, to discuss the previously announced acquisition of Fleet Complete by Powerfleet, which immediately creates an undisputed top tier leader in the global AIoT SaaS industry. Attendees will hear from key members of the Powerfleet and Fleet Complete leadership teams as they discuss their excitement for the combination's enhanced market position, focusing on the better together plan for customers, shareholde
Sets First Quarter Fiscal 2025 Conference Call for Thursday, August 22, 2024, at 8:30 a.m. ET Expects to File Transition Report on Form 10-KT for the transition period ended March 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 on or before August 23rd WOODCLIFF LAKE, N.J., Aug. 19, 2024 /PRNewswire/ -- Powerfleet, Inc. (NASDAQ:AIOT) today announced that, on August 16, 2024, it received a letter from the U.S. Securities and Exchange Commission (SEC) indicating that the SEC has completed its review regarding Powerfleet's determination that it is the accounting acquirer in the recent business combination with MiX Telematics Ltd.
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. Eastern time (5:30 a.m. Pacific time) to discuss results for the first quarter fiscal 2025 ended June 30, 2024. This will represent the first quarterly report for the combined company following Powerfleet's combination with Mix Telematics Ltd. Financial results will be issued in a press release prior to the call. Powerfleet management will host the presentation, followed by a question-and-answer session
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. The chat will take place on Tuesday, April 30, 2024, with presentations scheduled to begin at 9:30 a.m. Eastern time, followed by a Q&A session, with the event scheduled to end at approximately 11:00 a.m. Eastern time.
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 commenc
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. Eastern time (5:30 a.m. Pacific time) to discuss results for the fourth quarter and year ended December 31, 2023. Financial results will be issued in a press release prior to the call. Powerfleet management will host the presentation, followed by a question-and-answer session. Date: Tuesday, March 12, 2024Time: 8:30 a.m. Eastern time (5:30 a.m. Pacific time)Toll Free: 888-506-0062International: 973-528-0011Participant Access Co
Second Quarter Highlights: Net subscriber additions of 47,400, bringing the total base to over 1,089,000 subscribers Total revenue of $37.8 million, up 12% year-over-year (constant currency) Subscription revenue of $32.4 million, up 10% year-over-year (constant currency) Net income of $0.2 million, up from the $1.2 million loss in the prior year Adjusted EBITDA up 41% year-over-year to $8.5 million, at an adjusted EBITDA margin of 22.5% (up 550 basis points from the prior year) Cash and cash equivalents of $29.5 million at quarter end Net cash provided by operating activities of $8.5 million during the quarter Free cash flow of $2.1 million generated during the quart
Combination Expected to Create Top-Tier Global Provider in Mobile Asset IoT Industry with Unparalleled Artificial Intelligence Enhanced SaaS Solution Portfolio ~1.7 Million Combined Subscriber Base Expected to Provide Immediate Scale Expected to Create a Day One Business with Total Revenue of $279 Million, Including $210 Million of Recurring High-Margin SaaS Revenues and Combined Service Gross Margins of 67% In Addition to Organic Growth, Combination is Expected to Unlock Significant Annual EBITDA Expansion Within First Two Years Expected to Deliver Significant Cross-Sell and Upsell Opportunities for Powerfleet's Unity Platform, Modular Software, and AI-Driven Data Solutions into Combined Ba
Strong Growth in High Margin SaaS Revenues with Company Positioned for Accelerated Growth in Second Half of 2023 Second Quarter 2023 Service Revenue was 66% of Total Revenue, up from 57% in the Prior Period, Driving an Expansion in Total Company Gross Margins to 50% from 47% WOODCLIFF LAKE, N.J., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Powerfleet, Inc. (NASDAQ:PWFL), reported results for the second quarter and six months ended June 30, 2023. SECOND QUARTER 2023 FINANCIAL AND OPERATIONAL HIGHLIGHTS Total service revenue increased by 13% on a constant currency basis, compared to Q2 2022.Total service revenue increased sequentially by 3.3% on a constant currency basis, demonstrating traction
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- SEC Filing
Files 10-K for the Year Ended December 31, 2023Reiterates Revenue and Adjusted EBITDA Guidance for Twelve Months Ended March 31, 2024WOODCLIFF 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. The primary purpose of the change is to align the company's reporting calendar with the April 2, 2024 close of its business combination with MiX Telematics and MiX Telematics's historical March 31 fiscal year end.
Barrington Research analyst Gary Prestopino maintains PowerFleet (NASDAQ:PWFL) with a Outperform and raises the price target from $7 to $10.
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William Blair analyst Dylan Becker assumes PowerFleet (NASDAQ:PWFL) with a Outperform rating.
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Raymond James analyst Alexander Sklar assumes PowerFleet (NASDAQ:PWFL) with a Outperform rating and announces Price Target of $7.
Northland Capital Markets initiates coverage on PowerFleet (NASDAQ:PWFL) with a Outperform rating and announces Price Target of $7.
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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., as its independent registered public accounting firm for the fiscal year ending March 31, 2025 subject to satisfactory completion of Deloitte & Touche's client acceptance procedures, which are in the process of being completed.
Ticker Symbol Changing to AIOT with July 1st 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. Additionally, to reflect its position as a top-tier global artificial intelligence of things (AIoT) software-as-a-service (SaaS) provider, Powerfleet wil
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. Mr. Martin is a Partner and member of the investment research team at PCM, a leading small-cap value manager headquartered in Naples, Florida. Mr. Martin joined PCM in 2013 from H.I.G. Capital's hedge fund unit, where he was a senior research analyst for the firm's value-oriented long/short equity fund.
WOODCLIFF LAKE, N.J., Jan. 04, 2023 (GLOBE NEWSWIRE) -- Powerfleet, Inc. (NASDAQ:PWFL), a global leader of Internet of Things (IoT) software-as-a-service (SaaS) solutions that optimize the performance of mobile assets and resources to unify business operations, has appointed David Wilson as the company's new Chief Financial Officer (CFO). Wilson brings more than 20 years of executive leadership and finance experience in both the public and private markets. He has successfully led companies through business transformations, high-multiple merger and acquisition transactions as well as capital raises totaling over $1 billion. "I am excited to welcome David to our leadership team," said Steve
WOODCLIFF LAKE, N.J., Oct. 18, 2022 (GLOBE NEWSWIRE) -- Powerfleet, Inc. (NASDAQ:PWFL), a global leader of Internet of Things (IoT) software-as-a-service (SaaS) solutions that optimize the performance of mobile assets and resources to unify business operations, today announced that Nani Maoz has been appointed to the company's board of directors. Mr. Maoz has executed over 30 investments in U.S., European, and Israeli companies, playing active roles supporting high growth business development, business transformation, and unlocking incremental value for investors. "We are delighted to attract someone of the pedigree and caliber of Nani Maoz to join our Board," said Steve Towe, Chief Exec
WOODCLIFF LAKE, N.J., April 25, 2022 (GLOBE NEWSWIRE) -- PowerFleet, Inc. (NASDAQ:PWFL) a global leader of Internet-of-Things (IoT) solutions that manage enterprise assets for seamless business operations, has appointed enterprise software veteran Patrick Maley as the company's new Chief Revenue Officer (CRO) and U.S. General Manager of PowerFleet. Maley will work with CEO Steve Towe to lead PowerFleet's global go-to-market growth strategy and to promote PowerFleet's mission to improve safety, productivity, and sustainability across business operations with intuitive and innovative IoT software-as-a-service (SaaS) solutions. Maley brings a wealth of experience delivering best-in-class go
WOODCLIFF LAKE, N.J., April 11, 2022 (GLOBE NEWSWIRE) -- PowerFleet, Inc. (NASDAQ:PWFL), a global leader of Internet-of-Things (IoT) solutions that manage enterprise assets for seamless business operations, has appointed software veteran Jim Zeitunian as the company's new Chief Technology Officer (CTO). Zeitunian will report to CEO Steve Towe and focus on executing PowerFleet's Software-as-a-Service (SaaS) transformation. Zeitunian joins PowerFleet from Coupa Software, a multi-billion-dollar provider of business spend management solutions, where he served as Vice President of Engineering. Zeitunian led Coupa's engineering and applied research teams, focusing on the development of its glob
WOODCLIFF LAKE, N.J., Jan. 05, 2022 (GLOBE NEWSWIRE) -- PowerFleet, Inc. (NASDAQ:PWFL), a global leader and provider of subscription-based IoT solutions for managing high-value enterprise assets and driving seamless business operations, has appointed experienced software industry leader Steve Towe as the company's new Chief Executive Officer (CEO). Towe replaces Chris Wolfe, who has retired from the business after serving as CEO since December 2016. Towe has also been appointed to the PowerFleet Board of Directors. With a proven track record of scaling high value, global technology organizations, Towe joins PowerFleet from Aptos, the global leader of unified commerce solutions in the re