Earnings ·
Powerfleet, Inc. reported first-quarter fiscal 2027 results ending June 30, 2026, with total revenue increasing 6.4%…
AIOTPowerfleet, Inc.
Powerfleet, Inc. reported first-quarter fiscal 2027 results ending June 30, 2026, with total revenue increasing 6.4% to $110.8 million and services revenue rising 9.1% to $94.3 million. Gross margin expanded to 55.2%, while operating cash flow nearly doubled to $8.4 million. The company updated its full-year fiscal 2027 guidance, projecting revenue between $468 million and $473 million and adjusted EBITDA of $111 million to $114 million, reflecting a strategic reprioritization in South Africa where over 70,000 vehicles are now slated for near-term deployment under the National Treasury contract. Leadership changes include Paul Lalljie joining as President and Chief Financial Officer, replacing David Wilson who will remain on consulting. Powerfleet operates in the artificial intelligence of things (AIoT) software-as-a-service mobile asset industry.