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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% | - |
| 2023 | $134M | $6M | $-6M | $-3M | -4.1% | -1.6% | - |
| 2022 | $136M | $1M | $-7M | $-5M | -4.8% | 7.9% | - |
| 2021 | $126M | $0M | $-13M | $-8M | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2025 |
|---|---|---|---|---|
| Total Revenue | 125.96 | 135.91 | 133.74 | 362.51 |
| 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 |
| Operating Income | -8.17 | -6.97 | -12.56 | -25.89 |
| EBITDA | 0.43 | 1.29 | 6 | 21.37 |
| EBIT | -8.12 | -6.97 | -3.45 | -26.12 |
| Pretax Income | -10.88 | -5.88 | -5.05 | -46.45 |
| Tax Provision | 1.89 | 0.87 | 0.59 | 4.52 |
| Net Income | -12.77 | -6.75 | -5.67 | -50.99 |
| Net Income Common Stockholders | -22.07 | -16.89 | -17.31 | -51.01 |
| Total Expenses | 134.13 | 142.88 | 146.29 | 388.40 |
| Interest Expense | 2.76 | 0 | 1.60 | 20.33 |
| Interest Income | 0.04 | 1.06 | 0.10 | 0.93 |
| Research And Development | 11.43 | 8.47 | 8.38 | 16.06 |
| Selling General And Administration | 56.50 | 63.49 | 71.25 | 204.36 |
| Normalized EBITDA | 0.43 | 1.29 | -3.04 | 21.37 |
| Normalized Income | -12.77 | -6.75 | -12.81 | -50.99 |
| Basic EPS | -0.52 | -0.34 | -0.49 | -0.43 |
| Diluted EPS | -0.52 | -0.34 | -0.49 | -0.43 |
| Tax Effect Of Unusual Items | 0 | 0 | 1.90 | 0 |
| Tax Rate For Calcs | 0.27 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | 0 | 0 | 9.03 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 9.03 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -12.77 | -6.75 | -5.67 | -50.99 |
| Reconciled Depreciation | 8.55 | 8.26 | 9.45 | 47.49 |
| Reconciled Cost Of Revenue | 66.21 | 70.92 | 66.66 | 167.98 |
| Net Interest Income | -2.72 | 1.06 | -1.50 | -19.40 |
| Net Income From Continuing And Discontinued Operation | -12.77 | -6.75 | -5.67 | -50.99 |
| Total Operating Income As Reported | -8.17 | -6.97 | -12.56 | -25.89 |
| Diluted Average Shares | 34.57 | 35.39 | 35.63 | 119.88 |
| Basic Average Shares | 34.57 | 35.39 | 35.63 | 119.88 |
| Diluted NI Availto Com Stockholders | -22.07 | -16.89 | -17.31 | -51.01 |
| Otherunder Preferred Stock Dividend | 5.19 | 5.91 | 7.14 | 0 |
| Preferred Stock Dividends | 4.11 | 4.23 | 4.49 | 0.03 |
| Minority Interests | 0.01 | 0 | -0.04 | -0.02 |
| Net Income Including Noncontrolling Interests | -12.77 | -6.75 | -5.64 | -50.97 |
| Net Income Continuous Operations | -12.77 | -6.75 | -5.64 | -50.97 |
| Other Income Expense | 0.01 | 0.02 | 9.01 | -1.16 |
| Other Non Operating Income Expenses | 0.01 | 0.02 | -0.03 | -1.16 |
| Special Income Charges | 0 | 0 | 9.03 | 0 |
| Restructuring And Mergern Acquisition | 0 | 0 | -9.03 | 0 |
| Net Non Operating Interest Income Expense | -2.72 | 1.06 | -1.50 | -19.40 |
| Interest Expense Non Operating | 2.76 | 0 | 1.60 | 20.33 |
| Interest Income Non Operating | 0.04 | 1.06 | 0.10 | 0.93 |
| Operating Revenue | 125.96 | 135.91 | 133.74 | 362.51 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| PowerFleet, Inc.this co. | AIOT | $409M | - | 0.84 | -11.4% | 8.19 |
| OneSpan Inc. | OSPN | $426M | 6.11 | 1.58 | 26.8% | 6.04 |
| Priority Technology Holdings, Inc. | PRTH | $423M | 7.56 | -4.19 | -60.3% | 7.33 |
| Ribbon Communications Inc. | RBBN | $417M | 10.80 | 0.93 | 8.8% | 9.38 |
| Alight, Inc. | ALIT | $411M | - | 0.38 |
| -296.1% |
| 4.51 |
| TSS, Inc. | TSSI | $410M | 25.34 | 5.11 | 19.7% | 24.32 |
| TechTarget, Inc. | TTGT | $409M | - | 0.69 | -169.6% | 6.59 |
| Digital Turbine, Inc. | APPS | $404M | - | 2.07 | -59.8% | 7.97 |
| Climb Global Solutions, Inc. | CLMB | $393M | 18.34 | 3.32 | 18.3% | 9.32 |
| Peer Median | - | 10.80 | 1.25 | -25.5% | 7.65 | |