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PowerFleet, Inc. provides artificial intelligence-of-things (AIoT) solutions in North America, Israel, Africa, Europe, the Middle East, Australia, and internationally. Its unity solution portfolio includes unity platform that enables integration with AIoT devices and third-party business systems to a data highway that powers artificial intelligence-driven insights to help customers save lives, time, and money; software as a service based unity modules, which comprises vehicle, video, and in-warehouse IoT for customers to gain visibility and AI-powered insights into their people, assets, and business processes to manage utilization and maintenance, safety, fuel and energy management, and compliance and high-risk incidents; and open application programming interfaces for additional integrations and development to enhance other enterprise management systems and third-party applications. The company also provides hosting, maintenance, and customer support and consulting services; and software as a service, such as system monitoring, help desk technical support, escalation procedure development, routine diagnostic data analysis, and software update services. The company offers its products under the Powerfleet, Pointer, Cellocator, MiX by Powerfleet, and Fleet Complete brands. It markets and sells its wireless solutions to a range of customers in the commercial and government sectors, including construction and heavy equipment, distribution, field services, leasing and car rental, government and public safety, manufacturing and automotive, oil and gas, chemical, transportation and logistics, utilities and telecommunications, and cold chain logistics. The company was formerly known as I.D. Systems, Inc. and changed its name to PowerFleet, Inc. in October 2019. PowerFleet, Inc. was incorporated in 1993 and is headquartered in Woodcliff Lake, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $363M | $21M | $-51M | $-37M | -11.4% | 171.1% | 798.4% |
| 2024 | - | - | - | - | - | 0.0% | 0.0% |
| 2023 | $134M | $6M | $-6M | $-3M | -9.9% | -1.6% | -16.0% |
| 2022 | $136M | $1M | $-7M | $-5M | -9.8% | 7.9% | -47.1% |
| 2021 | $126M | $0M |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | 125.96 | 135.91 | 133.74 | - | 362.52 |
| Operating Revenue | 125.96 | 135.91 | 133.74 | - | 362.52 |
| Cost Of Revenue | 66.21 | 70.92 | 66.66 | - | 167.98 |
| Gross Profit | 59.75 | 64.99 | 67.08 | - | 194.54 |
| Operating Expense | 67.92 | 71.96 | 79.63 | - | 220.42 |
| Research And Development | 11.43 | 8.47 | 8.38 | - | 16.06 |
| Selling General And Administration | 56.50 | 63.49 | 71.25 | - | 204.36 |
| Total Expenses | 134.13 | 142.88 | 146.29 | - | 388.40 |
| Operating Income | -8.17 | -6.97 | -12.56 | - | -25.88 |
| Total Operating Income As Reported | -8.17 | -6.97 | -12.56 | - | -25.88 |
| EBITDA | 0.43 | 1.29 | 6 | - | 21.37 |
| Normalized EBITDA | 0.43 | 1.29 | -3.04 | - | 21.37 |
| EBIT | -8.12 | -6.97 | -3.45 | - | -26.12 |
| Interest Income | 0.04 | 1.06 | 0.10 | - | 0.93 |
| Interest Expense | 2.76 | - | 1.60 | - | 20.33 |
| Net Interest Income | -2.72 | 1.06 | -1.50 | - | -19.40 |
| Other Non Operating Income Expenses | 0.01 | 0.02 | -0.03 | - | -1.16 |
| Other Income Expense | 0.01 | 0.02 | 9.01 | - | -1.16 |
| Interest Income Non Operating | 0.04 | 1.06 | 0.10 | - | 0.93 |
| Interest Expense Non Operating | 2.76 | - | 1.60 | - | 20.33 |
| Net Non Operating Interest Income Expense | -2.72 | 1.06 | -1.50 | - | -19.40 |
| Pretax Income | -10.88 | -5.88 | -5.05 | - | -46.45 |
| Tax Provision | 1.89 | 0.87 | 0.59 | - | 4.52 |
| Tax Rate For Calcs | 0 | 0 | 0 | - | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 1.90 | - | 0 |
| Net Income Continuous Operations | -12.77 | -6.75 | -5.64 | - | -50.97 |
| Net Income From Continuing And Discontinued Operation | -12.77 | -6.75 | -5.68 | - | -50.99 |
| Net Income From Continuing Operation Net Minority Interest | -12.77 | -6.75 | -5.68 | - | -50.99 |
| Net Income | -12.77 | -6.75 | -5.68 | - | -50.99 |
| Net Income Common Stockholders | -22.07 | -16.89 | -17.31 | - | -51.01 |
| Net Income Including Noncontrolling Interests | -12.77 | -6.75 | -5.64 | - | -50.97 |
| Normalized Income | -12.77 | -6.75 | -12.81 | - | -50.99 |
| Diluted NI Availto Com Stockholders | -22.07 | -16.89 | -17.31 | - | -51.01 |
| Basic Average Shares | 34.57 | 35.39 | 35.63 | - | 119.88 |
| Diluted Average Shares | 34.57 | 35.39 | 35.63 | - | 119.88 |
| Reconciled Depreciation | 8.55 | 8.26 | 9.44 | - | 47.49 |
| Reconciled Cost Of Revenue | 66.21 | 70.92 | 66.66 | - | 167.98 |
| Total Unusual Items | 0 | 0 | 9.03 | - | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 9.03 | - | 0 |
| Preferred Stock Dividends | 4.11 | 4.23 | 4.49 | - | 0.02 |
| Minority Interests | 0 | 0 | -0.04 | - | -0.02 |
| Special Income Charges | 0 | 0 | 9.03 | - | 0 |
| Restructuring And Mergern Acquisition | 0 | 0 | -9.03 | - | 0 |
| Otherunder Preferred Stock Dividend | 5.19 | 5.91 | 7.14 | - | 0 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| PowerFleet, Inc.this co. | AIOT | $567M | - | 14.73 | -11.4% | 37.91 |
| Mesa Laboratories, Inc. | MLAB | $603M | -305.44 | 3.77 | -1.2% | 17.88 |
| PAR Technology Corporation | PAR | $598M | -7.09 | 0.73 | -10.2% | -34.55 |
| Grid Dynamics Holdings, Inc. | GDYN | $583M | 60.29 | 1.08 | 1.8% | 11.11 |
| Cerence Inc. | CRNC | $557M | - |
| $-13M |
| $-8M |
| - |
| - |
| - |
| 3.70 |
| -12.4% |
| 57.48 |
| i3 Verticals, Inc. | IIIV | $555M | 31.04 | 1.42 | 4.6% | 11.46 |
| PubMatic, Inc. | PUBM | $552M | -38.15 | 2.10 | -5.5% | 16.98 |
| OneSpan Inc. | OSPN | $546M | 7.49 | 2.01 | 26.8% | 8.00 |
| Ribbon Communications Inc. | RBBN | $541M | 13.64 | 1.20 | 8.8% | 13.99 |
| Peer Median | - | 7.49 | 1.72 | 0.3% | 12.72 | |