Powerfleet Q3 revenue $34.3M (+17% YoY); ops loss narrows to $1.2M

Powerfleet, Inc.

2023-Q3 EPS reported -$0.25 revenue$102,043,000

Total revenue $34.3M (+17% YoY); recurring/services rev $20.3M (+10% YoY).
Gross profit $17.2M (+20% YoY); product margin improved to 30% from 24% YoY.
GAAP net loss $3.5M (-$0.10/sh); non-GAAP net income $1.5M ($0.04/sh) vs loss in prior year.
Loss from operations improved to $(1.2)M, down 23% sequentially and 68% from Q1 2022.
Subscribers 653k (up from 642k); cash $17.0M; expects operating profitability in H1 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Powerfleet, Inc. reported the third quarter ended September 30, 2022 results: revenue $34.3 million, EPS $(0.10) per basic and diluted share.

Period: the third quarter ended September 30, 2022
Revenue: $34.3 million
EPS: $(0.10) per basic and diluted share
Result: reported results

Exact text from the filing

assets and resources to unify business operations, reported results for the third quarter ended September 30, 2022. Third Quarter 2022 Financial Highlights ● Total revenue was $34.3 million, an increase of 17% year-over-year. ● High margin, recurring and services revenue increased 10% to $20.3 million, or 59% of total revenue. ● Product gross margin increased to

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Source: SEC EDGAR

accession 0001493152-22-030947

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