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PowerFleet (PWFL) investor relations material

PowerFleet Q1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2025 earnings summary11 Aug, 2025

Executive summary

  • Total revenue rose 38% year-over-year to $104.1M, driven by SaaS and services growth, Fleet Complete acquisition, and strong enterprise wins.

  • Services revenue reached $86.5M, now 83% of total revenue, with 6% sequential growth and high-margin SaaS expansion.

  • Adjusted EBITDA increased 58% year-over-year to $21.6M, with margin expanding to 21% and gross margin to 67%.

  • Transformation and synergy initiatives delivered $11M in annualized savings in Q1, advancing toward the $18M FY26 target.

  • Net loss narrowed to $10.2M from $22.3M year-over-year, with EPS improving from $(0.21) to $(0.08).

Financial highlights

  • Services revenue grew 53% year-over-year and 6% sequentially to $86.5M, now 83% of total revenue.

  • Adjusted EBITDA was $21.6M, a 58% increase year-over-year, with margin at 21% and gross margin at 67%.

  • Net loss per share improved to $0.08 from $0.21 year-over-year; adjusted net income per share was $0.01.

  • Cash and equivalents at quarter end were $31.2M–$35.6M, with net debt at $234.8M–$235M.

  • SG&A expenses decreased 2% to $53.7M, offsetting higher go-to-market investments.

Outlook and guidance

  • FY26 revenue guidance raised to $430–$440M, with annual adjusted EBITDA growth expected at 45%–55%.

  • Net leverage targeted to improve to below 2.25x by March 31, 2026, with net debt expected to improve by $30M in the second half.

  • Management expects continued positive cash flow from acquisitions and 10% organic services growth in Q4.

  • Product margins anticipated to remain in the mid-20% range; sales and marketing expenses to run at ~18% of revenue.

  • Cautious outlook on CapEx-driven product sales due to macroeconomic and tariff uncertainties.

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Frequently asked questions

PowerFleet, Inc., together with its subsidiaries, provides wireless Internet of Things (IoT) and machine to machine (M2M) solutions for securing, controlling, tracking, monitoring, and managing high-value enterprise assets in the railcar leasing and industrial equipment markets in the United States, Israel, and internationally. It offers hardware, including sensors and electronic devices; software; connectivity platforms comprising interface applications that allow fleets to track assets; and PowerFleet enterprise platform/application suite that provides customer-configurable alerts/alarms on asset conditions. The company also provides PowerFleet AIR advance inspection reporting system product. In addition, it offers GPS and cellular technology-enabled equipment management services that enable its customers to manage their equipment assets through a Web portal. As of December 31, 2019, it had approximately 32 million subscribers connected to its network powered by Verizon. The company was founded in 1993 and is based in Rutherford, New Jersey.

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