PowerFleet reports FY22 revenue $135.2M up 7%, acquires Movingdots, explores strategic alternatives

Powerfleet, Inc.

FY22 revenue $135.2M (+7% YoY); services revenue $78.8M (+8%); GAAP net loss improved to $7.0M from $13.3M.
Q4 revenue $33.1M; net loss $2.9M ($0.08/sh) vs $7.9M ($0.23/sh) last year; adjusted EBITDA $1.4M.
Acquired Movingdots (German telematics from Swiss Re) for undisclosed sum; expected close Q1 2023.
Exploring strategic alternatives for Argentina, Brazil, and South Africa business units.
Phase 2 optimization plan to cut $3M annual OpEx; Phase 1 saved $5M; cash position $18M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Powerfleet, Inc. reported fiscal year ended December 31, 2022 results: revenue Total revenue increased 7% to $135.2 million, net income GAAP net loss improved to $7.0 million from $13.3 million in 2021..

Period: fiscal year ended December 31, 2022
Revenue: Total revenue increased 7% to $135.2 million
Net income: GAAP net loss improved to $7.0 million from $13.3 million in 2021.
Result: reported results

Exact text from the filing

Total revenue increased 7% to $135.2 million and 10% on a constant currency basis ● High-margin services revenue increased 8% to $78.8 million (58% of total revenue), and 11% on a constant currency basis. ● Gross profit increased 7% to $64.2 million (47% of total revenue) ● GAAP net loss improved to $7.0 million from $13.3 million in 2021. ● Adjusted EBITDA, a non-GAAP metric, increased 19% to $7.3 million.

View on SEC.gov

44 earnings releases filed in the last 30 days. Browse all earnings releases →

Powerfleet, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-007066

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.