PowerFleet Q3 revenue $34.2M (+7% seq); adj EBITDA triples to $2.0M; MiX deal to double revenue

Powerfleet, Inc.

2023-Q3 EPS reported -$0.16 revenue$99,084,000

Q3 total revenue $34.2M, up 7% sequentially; service revenue up 11% YoY constant currency to $21.0M.
Adjusted EBITDA $2.0M, triple Q2, driven by $4M annual cost cuts absorbing Movingdots expenses.
Net loss $(5.0)M ($0.14/share); cash $19.6M at quarter end.
Announced MiX Telematics combination expected to increase annual revenue from ~$135M to ~$280M and subscribers to 1.8M.
North America total revenue up 12% YoY; subscriber count 707,342 (+8% YoY).

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Powerfleet, Inc. reported the third quarter ended September 30, 2023 results: revenue total revenue of $34.2 million, net income Net loss attributable to common stockholders totaled $(5.0) million, or $(0.14) per basic and diluted share, EPS $(0.14) per basic and diluted share.

Period: the third quarter ended September 30, 2023
Revenue: total revenue of $34.2 million
Net income: Net loss attributable to common stockholders totaled $(5.0) million, or $(0.14) per basic and diluted share
EPS: $(0.14) per basic and diluted share
Result: reported results

Exact text from the filing

--- EX-99.1 () --- EX-99.1 2 ex99-1.htm Exhibit 99.1 Powerfleet Reports Third Quarter and Nine Month 2023 Financial Results Q3 2023 total revenue increased 7% sequentially to $34.2 million, marking the highest revenue performance in four quarters Company’s SaaS-centric business model transformation continues at pace with high-margin service revenue increasing 11%

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Powerfleet, Inc. reported financial results for the nine months ended September 30, 2023.

Period: the nine months ended September 30, 2023
Result: reported results

Exact text from the filing

Powerfleet, Inc. (Nasdaq: PWFL), reported results for the third quarter and nine months ended September 30, 2023.

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Powerfleet, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-039982

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