Welcome to our dedicated page for PowerFleet news (Ticker: PWFL), a resource for investors and traders seeking the latest updates and insights on PowerFleet stock.
PowerFleet, Inc. (PWFL) delivers cutting-edge IoT and M2M solutions that redefine asset tracking and industrial efficiency. This news hub provides investors and industry professionals with essential updates on the company developments shaping the future of connected asset management.
Access official press releases, financial announcements, and strategic partnership updates in one centralized location. Track PowerFleet's innovations in telematics, SaaS platform enhancements, and global expansion initiatives through verified primary sources.
Key coverage areas include quarterly earnings reports, product launch announcements, leadership updates, and industry recognition. Stay informed about the company's progress in logistics optimization, AIoT integration, and sustainable fleet management solutions.
Bookmark this page for direct access to PowerFleet's latest operational milestones and market-moving developments. For comprehensive analysis of how these updates impact the mobile asset management sector, visit Stock Titan regularly.
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Powerfleet, Inc. (PWFL) reports strong financial results for Q4 2023, with total revenue reaching $34.5 million, up 9% YoY in constant currency. Service revenue increased by 16% YoY, reflecting a shift to a SaaS-centric model. AEBITDA surged by 110% YoY in Q4 and by 141% in the second half of 2023. Shareholders show strong support for the upcoming business combination with MiX Telematics.
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Powerfleet, Inc. (PWFL) and MiX Telematics Limited have received shareholder approval for their business combination, expected to close in April 2024. The combined entity will be known as Powerfleet, focusing on AIoT SaaS services for accelerated growth in revenues and profitability.
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Powerfleet, Inc. (PWFL) will discuss Q4 and year-end 2023 results in a conference call on March 12, 2024. Financial results will be released before the call. Management will lead the presentation and Q&A session.
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Powerfleet, Inc. (PWFL) and MiX Telematics Limited (MIXT, MIX) have announced that their respective shareholders meetings will be held virtually on February 28, 2024, to vote on the proposed business combination between the parties. The completion of regulatory milestones has prepared the companies to realize anticipated strategic and financial benefits from the combination, with the transaction expected to close in April 2024, subject to the satisfaction of customary conditions.
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Powerfleet, Inc. (Nasdaq: PWFL) has launched its next-generation Pedestrian Proximity Detection solution, an AI-powered safety system that proactively prevents accidents, bolsters pedestrian safety, and mitigates damage to material handling equipment within warehouses and manufacturing facilities. The solution has experienced 57% subscriber growth for its safety solutions in North America since 2020 and offers an immediate ROI, helping prevent and significantly reduce costly accidents.
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Powerfleet, Inc. (Nasdaq: PWFL) has been recognized as a top innovator in ABI Research's Commercial Video Telematics Competitive Ranking. The influential report ranked Powerfleet based on its comprehensive solutions, user experience, key use cases, cameras and sensors, driving monitoring systems, and reporting and analytics capabilities. Powerfleet's advanced video solutions, data-driven safety and security enterprise application, and its device-agnostic fleet intelligence platform Unity were specifically highlighted. The company is excited to continue delivering groundbreaking AI-led and data-driven solutions in the future. Powerfleet's software capabilities encompass pre-collision warning, incident prevention, driver identification, incident review, driver coaching and risk mitigation, cargo monitoring, and more. The top innovator recognition follows the announcement of a business combination with MiX Telematics that will further accelerate their Artificial Intelligence of Things (AIoT) innovations and customer expansion opportunities for over 1.7 million subscribers worldwide.
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MiX Telematics Limited (NYSE: MIXT, JSE: MIX) and Powerfleet (Nasdaq: PWFL) will be presenting at the Raymond James TMT and Consumer Conference on December 4-6, 2023, in New York, NY. The business combination between MiX Telematics and Powerfleet is expected to create one of the largest mobile asset Internet of Things (IoT) Software-as-a-Service (SaaS) providers globally. Management from both companies will present on December 5, 2023, at 9:45 a.m. Eastern time, with one-on-one meetings available throughout the event.
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Powerfleet, Inc. (Nasdaq: PWFL) reported a 7% sequential increase in Q3 2023 total revenue to $34.2 million, marking the highest revenue performance in four quarters. The 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. The previously announced transformative business combination with MiX Telematics is expected to double revenue and provide the foundation for future Rule of 40 financial performance.
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MiX Telematics Limited (MIXT) announced Q2 financial results, with net subscriber additions of 47,400, total revenue of $37.8 million, and net income of $0.2 million. The company also reported a 41% increase in adjusted EBITDA to $8.5 million, and a 10% year-over-year increase in subscription revenue to $32.4 million.
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Powerfleet, Inc. has joined the U.S. Department of Transportation initiative to reduce injuries and deaths on American roads. The National Road Safety Strategy campaign aims to create a future with zero roadway fatalities. Powerfleet will use its fleet intelligence platform, Unity, to mitigate unsafe driving habits and provide real-time monitoring and coaching opportunities for drivers.
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PowerFleet, Inc.
Nasdaq:PWFL
PWFL Rankings
PWFL Stock Data
490.59M
107.35M
9.01%
42.21%
1.69%
Software - Infrastructure
Communications Equipment, Nec
United States
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