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.
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.15%
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Rhea-AI Summary
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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End-of-Day
-0.8%
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Rhea-AI Summary
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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Rhea-AI Sentiment
End-of-Day
4.52%
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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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-1.16%
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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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-1.14%
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News
Rhea-AI Summary
Powerfleet, Inc. will hold a conference call on November 9, 2023, to discuss third-quarter results. The call will be hosted by Powerfleet management and will include a question-and-answer session. Financial results will be issued prior to the call.
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Rhea-AI Sentiment
End-of-Day
2.78%
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PowerFleet, Inc. and MiX Telematics Limited will host a joint Investor Day on November 16 in New York. The event will focus on the strategic rationale and expected benefits of the business combination between the two companies. The combination will create one of the largest mobile asset IoT SaaS providers in the world. Powerfleet and MiX leadership teams will present the integration strategy, growth drivers, go-to-market approach, Unity platform, AI roadmap, customer success stories, and financial targets for the combined business.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.8%
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Keller North America has deployed Powerfleet's fleet intelligence platform, Unity, to enhance visibility and resource management. The platform provides data insights and analytics for construction companies, improving productivity and customer experiences. Keller can monitor their vehicles and assets in real-time and make informed decisions. Geofencing is a top feature, automating equipment location monitoring and eliminating inaccurate billing. Keller also has options for safety, security, maintenance, fuel management, sustainability, and regulatory compliance.
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Rhea-AI Sentiment
End-of-Day
-4.98%
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Rhea-AI Summary
PowerFleet and MiX Telematics announce agreement to form one of the largest mobile asset IoT SaaS providers
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1.43%
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Rhea-AI Summary
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Rhea-AI Sentiment
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-12.55%
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PowerFleet, Inc.
Nasdaq:PWFL
PWFL Rankings
PWFL Stock Data
540.67M
33.03M
4.78%
27.42%
18.71%
Electromedical and Electrotherapeutic Apparatus Manufacturing
Manufacturing
United States of America
WOODCLIFF LAKE
About PWFL
powerfleet, inc. develops, markets, and sells wireless internet-of-things and machine-to-machine solutions in the united states, israel, and internationally. the company offers industrial solutions, such as on-premise or in-facility asset and operator management, monitoring, and visibility for industrial trucks, such as forklifts and ground support equipment at airports. it also provides logistic solutions, including bumper-to-bumper asset management, monitoring, and visibility for heavy trucks, dry-van trailers, refrigerated trailers, shipping containers, etc., as well as associated cargos; and mobile-asset tracking and condition-monitoring solutions. in addition, the company offers vehicle solutions to enhance the vehicle fleet management process. further, it provides hosting, maintenance, and support and consulting services; and software as a service covering system monitoring, help desk technical support, escalation procedure development, routine diagnostic data analysis, and softw