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PowerFleet, Inc.

PowerFleet, Inc. provides artificial intelligence-of-things (AIoT) solutions for managing high-value enterprise and mid-market assets across North America, Israel, Africa, Europe, the Middle East, Australia, and other international markets. Its Unity solution portfolio includes the Unity platform, which integrates AIoT devices and third-party business systems into a data highway that powers AI-driven insights; SaaS-based Unity modules for vehicle, video, and in-warehouse IoT that provide visibility and AI-powered insights into people, assets, and business processes for managing utilization, maintenance, safety, fuel and energy, compliance, and high-risk incidents; and open APIs for additional integrations and development. The company also offers hosting, maintenance, customer support, and consulting services, as well as SaaS such as system monitoring, help desk technical support, escalation procedure development, routine diagnostic data analysis, and software updates. It sells its products under the Powerfleet, Pointer, Cellocator, MiX by Powerfleet, and Fleet Complete brands to commercial and government customers in 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. Formerly known as I.D. Systems, Inc., it changed its name to PowerFleet, Inc. in October 2019. The company was incorporated in 1993 and is headquartered in Woodcliff Lake, New Jersey.

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PowerFleet Cuts FY27 Guidance on South Africa Reprioritization

PowerFleet lowered its fiscal 2027 revenue and adjusted EBITDA guidance as it reallocates resources to a faster-than-expected South African government contract. The company now expects revenue of $468 million to $473 million and adjusted EBITDA of $111 million to $114 million, down from prior ranges of $485 million to $490 million and $122 million to $125 million, respectively. The revision reflects a deliberate decision to forgo approximately $17 million in nonstrategic revenue, primarily in South Africa, to support deployment of over 70,000 vehicles under the National Treasury contract, up from an original expectation of 10,000. First quarter revenue rose 6.4% year-over-year to $110.8 million, but was reduced by about $1.6 million from the South Africa reprioritization and $3.2 million from a production constraint tied to a component compatibility issue. The company also announced Paul Lalljie as President and CFO and Vishal Vallabha as Chief AI Officer, and reiterated expectations for annualized fourth-quarter revenue of approximately $495 million with adjusted EBITDA margins of about 27%.
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PowerFleet Board Approves $30 Million Share Repurchase Program

PowerFleet has received board approval for a $30 million share buyback program that may be executed over the next two years. The repurchase program is part of the company's capital allocation strategy and allows for periodic share purchases based on factors such as strategic priorities, financial position, and legal considerations. The authorization may be adjusted, deferred, or dismissed at the company's discretion and does not obligate PowerFleet to repurchase a specific number of shares.
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PowerFleet Reports 11% Revenue Growth and Major South Africa Contract

PowerFleet reported fourth-quarter fiscal 2026 revenue of $114.5 million, an 11% increase from the prior year, driven by a 14% rise in services revenue to $92.9 million. The company swung to an operating income of $11 million from a $7 million loss a year earlier, and adjusted EBITDA climbed 42%. PowerFleet also signed a five-year agreement with the South African National Treasury expected to deliver between $100 million and $120 million in total contract value. Management highlighted accelerating growth, improving profitability, and positive free cash flow in the second half of the fiscal year.
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Raymond James Cuts PowerFleet Price Target to $7 Despite Strong Q4 Results

Raymond James lowered its price target on PowerFleet, Inc. to $7 from $8 while maintaining an Outperform rating, even as the company's fourth-quarter results beat expectations and its fiscal 2027 outlook strengthened. Total revenue rose 11% year-over-year and adjusted EBITDA jumped 42% year-over-year in the fourth quarter. The firm cited solid subscription-based services growth, surging annual recurring revenue, enhanced adoption, accelerating demand for AI video and in-warehouse solutions, channel growth, and margin expansion as drivers of the improved performance. PowerFleet, a New Jersey-based provider of artificial intelligence-of-things solutions, remains focused on investments in go-to-market capabilities, channel partnerships, and South African deployment.
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