secwatch.observer — SEC 8-K summary
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Issuer:     Powerfleet, Inc. (AIOT)
CIK:        0001774170
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001493152-24-009629
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Powerfleet Q4 revenue $34.5M (+9% CC), AEBITDA $2.9M (+110% YoY); MiX deal on track for Apr 2
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- Q4 total revenue $34.5M (+9% YoY constant currency); service revenue $21.7M (+16% CC).
- Adjusted EBITDA of $2.9M, up 110% YoY; net loss $(0.13)/share includes $1.5M gain on bargain purchase.
- Full-year service revenue grew 14% CC to $84.2M (63% of total revenue); gross margin expanded to 50.2% from 47.5%.
- Entered $85M facility with RMB (two $42.5M tranches, 3yr and 5yr maturities) to redeem Series A preferred and for corp purposes.
- Business combination with MiX Telematics on track to close April 2, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1774170/000149315224009629/0001493152-24-009629-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1774170/000149315224009629/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-009629

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer