Powerfleet to Host Virtual Analyst and Investor Fireside Chat on April 30, 2024

Rhea-AI Summary

Powerfleet, Inc. (PWFL) will host a virtual fireside chat on April 30, 2024, to update analysts and shareholders on the business combination with MiX Telematics, creating a top-tier global AIoT SaaS provider with $284 million in revenue and $43 million in EBITDA. The chat aims to discuss the path to Rule of 40 performance within two years, EBITDA expansion, revenue growth plan, and Unity platform strategy.

Positive

• Powerfleet's virtual fireside chat aims to provide insight on the combined business opportunity with MiX Telematics, showcasing a total revenue of $284 million and EBITDA of $43 million.
• The company plans to discuss key milestones, value creation opportunities, EBITDA expansion program, revenue growth plan, Unity platform strategy, and the path to Rule of 40 performance during the event.
• Powerfleet's CEO, Steve Towe, expressed excitement about sharing the company's vision and future plans with current and potential shareholders, building on the Investor Day held in November 2023.
• The event is scheduled for Tuesday, April 30, 2024, starting at 9:30 a.m. Eastern time, with a Q&A session following the presentations and ending around 11:00 a.m. Eastern time.
• Analysts and shareholders can access the conference call via phone or the company's website, where a slide presentation will accompany the discussion.

Negative

• None.

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.

The Powerfleet leadership team will provide a progress update on the company's vision, value creation opportunities, EBITDA expansion program, revenue growth plan, Unity platform strategy, and path to Rule of 40 performance.

"We are incredibly excited to update our current and prospective shareholders with further insight on the combined business opportunity, building on our Investor Day in November 2023," said Steve Towe, Powerfleet's Chief Executive Officer. "The executive team and I look forward to sharing key milestones and the associated value creation opportunities we plan to achieve within the next two years and beyond."

Details:

Date: Tuesday, April 30, 2024
Time: 9:30 a.m. Eastern time (6:30 a.m. Pacific time)
Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 789762

The conference call will be accompanied by a slide presentation that can be accessed here and will be broadcast simultaneously via the investor section of the company's website at ir.powerfleet.com.

ABOUT POWERFLEET
Powerfleet (Nasdaq: PWFL; JSE: PWR; TASE: PWFL) is a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry. With more than 30 years of experience, Powerfleet unifies business operations through the ingestion, harmonization, and integration of data, irrespective of source, and delivers actionable insights to help companies save lives, time, and money. Powerfleet's ethos transcends our data ecosystem and commitment to innovation; our people-centric approach empowers our customers to realize impactful and sustained business improvement. The company is headquartered in New Jersey, United States, with offices around the globe. Explore more at www.powerfleet.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of federal securities laws. Powerfleet's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements may be identified by words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions.

These forward-looking statements include, without limitation, Powerfleet's expectations with respect to its beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions and future performance, as well as anticipated financial impacts of the transaction with MiX Telematics. Forward-looking statements involve significant known and unknown risks, uncertainties and other factors, which may cause their actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. Most of these factors are outside Powerfleet's control and are difficult to predict. The risks and uncertainties referred to above include, but are not limited to, risks related to: (i) future economic and business conditions, including the conflict between Israel and Hamas; (ii) integration of our and MiX Telematics' businesses and the ability to recognize the anticipated synergies and benefits of the transaction with MiX Telematics; (iii) the loss of any of our key customers or reduction in the purchase of our products by any such customers; (iv) the failure of the markets for our products to continue to develop; (v) the negative effects of the transaction on the market price of our securities; (vi) our inability to adequately protect our intellectual property; (vii) our inability to manage growth; (viii) the effects of competition from a wide variety of local, regional, national and other providers of wireless solutions; and (ix) such other factors as are set forth in the periodic reports filed by Powerfleet with the Securities and Exchange Commission ("SEC"), including but not limited to those described under the heading "Risk Factors" in its annual reports on Form 10-K, quarterly reports on Form 10-Q and any other filings made with the SEC from time to time, which are available via the SEC's website at http://www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated by these forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.

The forward-looking statements included in this press release are made only as of the date of this press release, and except as otherwise required by applicable securities law, Powerfleet assumes no obligation, nor does Powerfleet intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.

Powerfleet Investor Contacts
Jody Burfening and Carolyn Capaccio
LHA Investor Relations
AIOTIRTeam@lhai.com

Powerfleet Media Contact
Andrea Hayton
ahayton@powerfleet.com
+1 (610) 401-1999

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SOURCE Powerfleet

FAQ

When will Powerfleet host the virtual fireside chat for analysts and shareholders?

Powerfleet will host the virtual fireside chat on April 30, 2024.

What is the ticker symbol for Powerfleet, Inc.?

The ticker symbol for Powerfleet, Inc. is PWFL.

What is the total revenue mentioned in the press release?

The press release mentions a total revenue of $284 million.

Who will provide a progress update during the virtual fireside chat?

The Powerfleet leadership team, including CEO Steve Towe, will provide a progress update.

What time will the presentations start during the virtual fireside chat?

The presentations are scheduled to begin at 9:30 a.m. Eastern time.