Powerfleet, Inc. SEC Filings

Powerfleet, Inc. reported higher revenue but remained unprofitable for the quarter ended December 31, 2025. Total revenue rose to $113,487 thousand from $106,429 thousand a year earlier, driven mainly by services revenue of $91,085 thousand.

The company generated operating income of $6,346 thousand compared with an operating loss of $1,243 thousand in the prior-year quarter, but interest expense and taxes led to a net loss of $3,364 thousand, improved from a $14,349 thousand loss. For the nine months, revenue grew to $329,287 thousand while net loss narrowed to $17,886 thousand, and operating cash flow turned positive at $20,451 thousand.

Following the MiX Combination and FC Acquisition, total assets reached $959,459 thousand and stockholders’ equity was $485,179 thousand. Long-term debt (including current portion) totaled $237,249 thousand, and the company is incurring restructuring expenses related to integrating the acquired businesses.

Powerfleet, Inc. reported stronger results for the quarter ended December 31, 2025, with total revenue rising 7% year-over-year to $113.5 million and services revenue up 11% to $91.1 million, now 80% of total revenue. Operating profit reached $6.3 million compared with a $1.2 million loss a year ago, while net loss narrowed to $3.4 million, or $0.03 per share, from $14.3 million, or $0.11 per share. Adjusted EBITDA increased 26% to $25.7 million, expanding margin to 23% from 19%. The company highlighted a major South Africa public sector contract covering fleets with more than 100,000 assets and updated full-year 2026 guidance to revenue of $440–$445 million and approximately 45% adjusted EBITDA growth, while still expecting leverage (adjusted net debt to adjusted EBITDA) to improve from 3.4x to about 2.4x by March 31, 2026.

Powerfleet, Inc. reported that director Michael Brodsky resigned from its board of directors, effective January 30, 2026. The company later announced that Mr. Martin has been appointed as Chairman of the Board, signaling a change in board leadership.

The company disclosed these governance changes in connection with a press release dated February 3, 2026, which is included as an exhibit. The filing focuses solely on board composition and leadership changes, without providing financial results or operational updates.

Powerfleet, Inc. (AIOT) furnished an investor presentation under Regulation FD. On November 14, 2025, the company posted an investor presentation on its website and furnished the same as Exhibit 99.1 to an 8-K.

The materials are furnished, not filed, so they are not subject to Section 18 liability and are not incorporated by reference unless specifically stated. The presentation includes forward-looking statements, including references to the business combination with MiX Telematics and the acquisition of Fleet Complete, and is subject to risks outlined in the company’s SEC reports.

Powerfleet, Inc. reported its quarterly results for the three months ended September 30, 2025. Revenue reached $111.7 million, up from $77.0 million a year ago, driven mainly by services revenue of $89.3 million alongside products revenue of $22.4 million. Gross profit rose to $62.6 million from $41.3 million as the mix shifted toward recurring services.

Operating income improved to $4.2 million from $0.6 million, but higher net interest expense of $7.0 million contributed to a net loss of $4.3 million versus a $1.9 million loss last year. For the six‑month period, revenue was $215.8 million with a net loss of $14.5 million, and operating cash flow turned positive at $10.2 million.

Cash and cash equivalents were $27.9 million and restricted cash $4.6 million at quarter‑end. Short‑term bank debt stood at $37.5 million, with $231.9 million of long‑term debt, reflecting financing for recent transactions. The quarter includes results from the Fleet Complete acquisition, with identifiable intangibles and goodwill contributing to balances of $262.8 million and $401.2 million, respectively. Shares outstanding were 133,824,621 as of November 6, 2025.

Powerfleet, Inc. (AIOT) furnished an update tied to quarterly results. The company issued a press release for the fiscal quarter ended September 30, 2025, furnished as Exhibit 99.1. It will host a conference call on November 10, 2025 at 8:30 a.m. Eastern time, accompanied by a slide presentation furnished as Exhibit 99.2.

The information was provided under Items 2.02 and 7.01 and is furnished, not filed, under applicable SEC rules. The filing includes a customary caution regarding forward‑looking statements, including references to anticipated financial impacts related to the business combination with MiX Telematics and the acquisition of Fleet Complete.

Powerfleet, Inc. amended and restated its credit agreement with FirstRand Bank (RMB), extending the Term A loan’s final maturity by 12 months to March 31, 2028 and updating interest terms and covenants.

The RMB Term Facilities total $85 million, split between two $42.5 million term loans. Term A will carry a fixed rate set at each utilization until March 31, 2027, then switch to a variable rate equal to SOFR plus 4.85% (if no event of default) thereafter. Term B continues at fixed rates set via rate-fixing letters. Financial covenants now step down: consolidated net borrowings to EBITDA must be below 4.25 at March 31 and June 30, 2025; 4.00 at September 30, 2025; 3.50 at December 31, 2025; 3.00 at March 31, 2026; 2.75 from June 30, 2026 through March 30, 2027; and 2.50 thereafter. EBITDA to finance costs must exceed 3.00 from September 30, 2025 through September 29, 2026, and 3.50 thereafter.

Powerfleet, Inc. reported the results of its 2025 annual meeting of stockholders held on September 16, 2025. Stockholders representing 100,645,534 of the 133,443,292 common shares entitled to vote were present in person or by proxy.

All five director nominees — Michael Brodsky, Ian Jacobs, Andrew Martin, Michael McConnell and Steve Towe — were elected to serve until the 2026 annual meeting and until their successors are duly elected and qualified. Support levels for individual nominees varied, with Steve Towe receiving 81,469,312 votes for and 454,491 withheld, and Andrew Martin receiving 76,734,938 votes for and 5,188,865 withheld.

Stockholders also approved the ratification of Deloitte & Touche as the independent registered public accounting firm for the fiscal year ending March 31, 2026, with 100,448,571 votes for, 149,371 against and 47,592 abstentions. In addition, the advisory, non-binding vote on executive compensation was approved, with 55,080,716 votes for, 19,916,978 against, 6,926,109 abstentions and 18,721,731 broker non-votes.