Welcome to our dedicated page for Powerfleet news (Ticker: AIOT), a resource for investors and traders seeking the latest updates and insights on Powerfleet stock.
About Powerfleet, Inc. (AIOT)
Powerfleet, Inc. (Nasdaq: AIOT) is a global leader in Artificial Intelligence of Things (AIoT) and Internet of Things (IoT) solutions, delivering cutting-edge software-as-a-service (SaaS) platforms that optimize mobile asset performance, safety, and sustainability. With over 30 years of experience, Powerfleet empowers businesses across industrial, logistics, and transportation sectors by providing actionable insights through advanced AI, machine learning, and IoT connectivity.
Core Business and Value Proposition
At its core, Powerfleet addresses critical challenges in asset management, such as inefficient data collection, lack of real-time visibility, and operational inefficiencies. Its flagship Unity platform harmonizes data from IoT devices, third-party systems, and partner applications to deliver actionable intelligence. This device-agnostic, cloud-based platform enables enterprises to streamline operations, enhance safety, and reduce costs, making it a preferred choice for businesses seeking scalable and integrated solutions.
Market Position and Strategic Acquisitions
Powerfleet operates in the rapidly expanding global telematics and fleet management industry, competing with established players like Samsara and Geotab. Recent strategic acquisitions, including MiX Telematics and Fleet Complete, have significantly enhanced its market presence, adding over 2.6 million subscribers and expanding its footprint across North America, Europe, and beyond. These acquisitions underscore Powerfleet's commitment to achieving global scale and delivering innovative, high-value solutions.
Revenue Model and Industry Leadership
Powerfleet generates revenue primarily through recurring SaaS subscriptions, complemented by product sales and partnerships with major telecommunications providers and OEMs. Its differentiated approach, combining AI-driven analytics and safety-centric solutions, has earned it recognition as the #1 innovator in mobile asset management by ABI Research. The company serves over 48,000 customers in 120 countries, showcasing its ability to deliver impactful and sustained business improvements globally.
Competitive Differentiation
What sets Powerfleet apart is its focus on delivering a unified data ecosystem through its Unity platform. The platform's device-agnostic capabilities and prepackaged third-party integrations offer unparalleled flexibility and scalability. Additionally, its in-warehouse solutions and AI-powered video technologies cater to niche markets, providing a comprehensive suite of tools that enhance customer retention and drive operational excellence.
Commitment to Innovation and Sustainability
Powerfleet's ethos revolves around innovation and sustainability. By leveraging AI and IoT, the company helps businesses reduce their environmental footprint while improving safety and workforce productivity. Its people-centric approach ensures that technology adoption translates into measurable business outcomes, reinforcing its position as a trusted partner in the AIoT space.
Global Presence and Vision
Headquartered in New Jersey, USA, Powerfleet maintains a global presence with offices across key markets. Its strategic vision focuses on scaling operations, enhancing customer engagement, and driving sustainable growth. With a robust product portfolio, industry recognition, and a commitment to innovation, Powerfleet is well-positioned to lead the AIoT revolution in mobile asset management.
Powerfleet (Nasdaq: AIOT) has been awarded the #1 global ranking for innovation by ABI Research in their assessment of leading commercial solution providers for mobile assets. The company's Unity ecosystem and product portfolio were recognized as the industry's elite solution set, based on comprehensive evaluation criteria including software platform quality, user experience, data management, hardware range, ecosystem openness, and AI implementation.
Powerfleet was also named among the top three global leaders alongside Samsara and Geotab. ABI Research highlighted Unity's extensive platform capabilities and cutting-edge solutions as key factors in positioning Powerfleet as a leading AIoT player. The platform's device-agnostic approach and data harmonization capabilities were specifically praised, along with its distinctive in-warehouse solutions for material handling.
Powerfleet (NASDAQ: AIOT) reported strong Q3 2025 financial results with revenue increasing 45% year-over-year to $106.4 million. Service revenue, representing 77% of total revenue, grew 45% to $81.7 million, while product revenue rose 42% to $24.7 million.
The company achieved significant margin improvements, with combined adjusted gross margin exceeding 60%, up from 55.5% in the prior year. Adjusted EBITDA increased 77% to $22.5 million, driven by the Fleet Complete acquisition, organic growth, and cost synergies.
Following strong performance, Powerfleet raised its FY2025 guidance, now expecting revenue to exceed $362.5 million (up $10 million from previous guidance) and adjusted EBITDA to exceed $75 million (up $2.5 million). The company reported over 2.6 million recurring revenue subscribers and secured $15 million in annualized cost savings.
Powerfleet (Nasdaq: AIOT) has scheduled its third quarter fiscal 2025 conference call for Monday, February 10, 2025, at 8:30 a.m. Eastern time. The company will discuss financial results for the quarter ended December 31, 2024, with financial results to be released via press release before the call.
Management will host a presentation followed by a Q&A session. The call will be accessible via toll-free number (888-506-0062) and international line (973-528-0011) using participant access code 466496. A simultaneous broadcast and replay will be available through the company's investor relations website.
Powerfleet (Nasdaq: AIOT) has announced its participation in the 27th Annual Needham Growth Conference, scheduled for Tuesday, January 14th at 4:30pmET. During the conference, management will present and meet with investors to discuss how the company is driving significant business transformation through data insights for its customers and supporting their digital transformation initiatives.
The presentation will be accessible via live webcast through Powerfleet's investor relations website at ir.powerfleet.com under the events and presentations section.
Powerfleet (Nasdaq: AIOT) has appointed Mike Powell as Chief Innovation Officer (CINO), effective immediately. Powell, with over two decades of experience in digital transformation and AI-driven growth, will lead the company's evolution by integrating internal transformation with customer technologies and enhancing the Unity AIoT ecosystem. His experience includes working with organizations generating over $1 billion in annual revenues.
The company also announced that Frank Friesacher, Chief Product Officer at Fleet Complete, will lead the execution of Powerfleet's technology roadmap. Meanwhile, Chief Technology Officer Jim Zeitunian is departing to pursue new opportunities.
CEO Steve Towe emphasized that Powell's appointment is important for advancing digital transformation both internally and for customers, citing his expertise in customer-centric innovation, product strategy, technology development, AI, and automation.
Powerfleet (Nasdaq: AIOT) has announced its participation in the Raymond James 2024 TMT & Consumer Conference. The company's management will deliver a presentation on Tuesday, December 10th at 3:40 PM ET. During the conference, they will engage with investors to discuss how Powerfleet enables meaningful business transformation through data insights and supports customers' digital transformation initiatives.
The presentation will be accessible via live webcast through Powerfleet's investor relations website at ir.powerfleet.com/events-presentations/events.
Powerfleet (NASDAQ: AIOT) reported strong Q2 FY25 results with revenue up 7% to $77.0 million and Adjusted EBITDA up 41% to $14.5 million year-over-year. First half FY25 showed revenue growth of 9% to $152.4 million and Adjusted EBITDA increase of 46% to $28.2 million. The company achieved 50% of its planned two-year cost synergy target of $27 million within 6 months of the MiX combination. Product revenue rose 13% to $20.3 million with adjusted gross margins at 35%, while service revenue grew 5% to $56.7 million. The company reaffirmed its FY25 guidance expecting revenue to exceed $352.5 million and Adjusted EBITDA to exceed $72.5 million.
Powerfleet (Nasdaq: AIOT) has scheduled its second quarter fiscal 2025 earnings conference call for Tuesday, November 12, 2024, at 8:30 a.m. Eastern time. The company will release its financial results for the quarter ended September 30, 2024, via press release before the call. Management will host a presentation followed by a Q&A session. The call will be accessible through toll-free and international dial-in numbers, and will be broadcast simultaneously with a replay available on the company's investor relations website.
Powerfleet, Inc. (Nasdaq: AIOT) is set to host an Investor Day on November 20, 2024, at Sofitel New York and virtually. The event will run from 1:00 p.m. to 4:00 p.m. Eastern time, with a preceding lunch at noon. Senior leaders from Powerfleet and Fleet Complete will present on:
- Strategic, operating, and financial benefits of the Fleet Complete transaction
- Long-term strategy and value creation
- Pathways to accelerated double-digit growth
- Unity's AI-led innovations
- Indirect channel opportunities
- Expanded go-to-market approach
- Financial targets for the combined business
Select customers will share their experiences with Unity in digital transformation. The event will conclude with a live Q&A session. In-person attendance is by invitation only, but a live webcast will be available on both companies' investor relations websites.
Powerfleet, Inc. (Nasdaq: PWFL) has successfully closed the acquisition of Fleet Complete, a leading connected vehicle technology and fleet management company. This strategic move is expected to create a $400m+ revenue company, including $300m+ of recurring SaaS revenue and $85m EBITDA. The combined entity will have 2.6 million total subscribers, positioning Powerfleet as a global leader in the AIoT market.
CEO Steve Towe highlighted that this transformative and highly accretive transaction will immediately scale Powerfleet's presence in North America and Europe. It also unlocks significant growth opportunities through Fleet Complete's indirect channel partnerships, particularly in the U.S. and Canada. The acquisition enhances Unity's data capabilities, adds 600,000 new subscribers, expands cross-sell opportunities, and strengthens Powerfleet's position in the AI-powered video market with Fleet Complete's FC Vision solution.
FAQ
What is the current stock price of Powerfleet (AIOT)?
What is the market cap of Powerfleet (AIOT)?
What does Powerfleet, Inc. specialize in?
How does Powerfleet generate revenue?
What is Powerfleet's Unity platform?
What industries does Powerfleet serve?
What are Powerfleet's key competitive advantages?
What recent acquisitions has Powerfleet made?
How does Powerfleet contribute to sustainability?
Where is Powerfleet headquartered?
What recognition has Powerfleet received for its innovation?
Who are Powerfleet's main competitors?
