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.
Powerfleet, Inc. reports news around its AIoT software-as-a-service platform for mobile asset management. The company ingests, harmonizes and integrates data from IoT devices, third-party applications and partner ecosystems to support fleet visibility, operational intelligence and enterprise asset workflows.
Recurring updates cover services-revenue performance, conference presentations, customer and channel activity, public-sector fleet contracts, and product launches such as Vision 360 Plus, an AI-powered video solution for multi-camera coverage and driver-safety workflows. Governance changes and listings on Nasdaq under AIOT and the Johannesburg Stock Exchange under PWR also appear in company announcements.
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.
Powerfleet (Nasdaq: AIOT) is set to host a fireside chat on October 2, 2024, at 8:30 a.m. Eastern Time to discuss its acquisition of Fleet Complete. This merger creates a leading entity in the global AIoT SaaS industry. The session will feature key leadership members from both companies, focusing on:
- The enhanced market position resulting from the combination
- The 'better together' plan for customers, shareholders, and employees
- Increased competitive advantages
- Accelerated growth opportunities
- Business efficiency execution plans
The event will include a question-and-answer session and will be accessible via toll-free and international call-in numbers, as well as through a live webcast on the company's investor relations website.
Powerfleet (Nasdaq: AIOT) has announced a strategic acquisition of Fleet Complete, a leading provider of connected vehicle technology and fleet management solutions. The $200 million transaction is expected to create an industry powerhouse with total revenue anticipated to exceed $400 million, including over $300 million in recurring high-margin SaaS revenue. The acquisition aims to strengthen Powerfleet's North American presence, fuel top-line growth in Europe and Australia, and extend its go-to-market reach through a scaled indirect channel.
Key highlights of the acquisition include:
- Combined subscriber base of 2.6 million
- Highly accretive deal representing 8x pre-synergy and 5x post-synergy adjusted EBITDA
- Expected to accelerate Powerfleet's momentum towards achieving 20%+ organic revenue growth and Rule of 40 performance
- Transaction expected to close on October 1, 2024