WOODCLIFF LAKE, N.J., July 21, 2025 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: AIOT), a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry, has been named one of ABI Research's Most Innovative Technology Companies of 2025 - an exclusive recognition awarded to only one standout innovator in each of seven tech sectors globally.Powerfleet was recognized as the top innovation leader in AIoT for Supply Chain operations, cementing its position at the fo ...

Core Insights - Powerfleet, Inc. has been selected by SIXT Mexico to modernize its on-road operations using Unity's AIoT-powered data intelligence, which will enhance control and efficiency across a multi-thousand vehicle deployment [1][2][3] Company Overview - Powerfleet is a leader in AI-powered data solutions, optimizing mobile asset performance, safety, and sustainability, serving 48,000 customers in 120 countries [5] - SIXT Mexico is a national subsidiary of a global vehicle rental company, recognized for innovation and high-quality service, operating in over 100 countries [4] Partnership Details - The multi-year engagement with SIXT Mexico highlights the increasing demand for AIoT solutions and aims to address operational challenges while driving cost reductions [2][3] - The partnership emphasizes a shift from reactive to proactive management through AI-powered control, enhancing efficiency and accountability [3][4] Technological Impact - Powerfleet's Unity SaaS platform will provide SIXT Mexico with advanced data capabilities, enabling customer-led growth and market expansion [3] - The deployment will facilitate automated security, operational accountability, and insights into fuel and energy management [6]

Core Insights - Powerfleet, Inc. has launched an automated AI risk intervention application aimed at redefining real-time risk detection and prevention in the mobile asset industry [1][3] - The application is integrated into Powerfleet's Unity ecosystem and leverages over 20 years of expertise in safety management [2][4] - The new AI-powered module shifts safety operations from reactive to proactive, utilizing advanced AI to detect risky behaviors and trigger automatic workflows [3][5] Market Context - The global AI video market is projected to exceed $10 billion by 2030, with AI-based solutions expected to drive the majority of new spending [5] - There is increasing demand for proactive safety and compliance solutions due to ESG and regulatory pressures [5] Expected Impact - The AI risk intervention module is already showing significant results, including an 80% reduction in video review time and a 95% reduction in fatigue and distraction alerts [5] - Customers can expect enhanced operational control, reduced insurance liabilities, and measurable ROI in safety outcomes [4][5] - The application is positioned to fill a gap in the market for real-time risk management, which is currently underserved by outdated telematics providers [5][6] Strategic Value - The launch of this application reinforces Powerfleet's strategy to expand its high-margin SaaS portfolio and strengthen its competitive position [4][6] - The company aims to deliver scalable AI solutions that enhance customer value and data monetization [6]

Company Overview - PowerFleet is a leading global B2B mobile fleet and asset management company[5] - The company has over 500,000 monthly subscription units, with over 57% of revenue being high-margin recurring revenue[5] - PowerFleet is an essential service provider to the industrial, logistics, and commercial vehicle industries[5] Market Opportunity and Growth - The global logistics market is projected to grow from $8.1 trillion in 2015 to $15.5 trillion in 2023, representing a 7.5% CAGR[17] - The global asset tracking market is estimated to reach $32 billion by 2024[18] - The global cold chain market is projected to reach $447 billion by 2025, with the North American cold chain market reaching $142.5 billion by 2024[18] - The global warehouse management system market is expected to grow from $2.1 billion in 2018 to $4.8 billion in 2024, a 15.2% CAGR[20] - The connected vehicle market is projected to grow from $73.2 billion in 2018 to $237 billion in 2025, a 14.2% CAGR[20] - Worldwide spending on the Internet of Things (IoT) is forecast to reach $745 billion in 2019, a 15.4% increase over the $646 billion spent in 2018[23] Financial Performance (Q1 2020) - Total revenue was $30.8 million[38] - Service revenue accounted for $17.6 million (57% of total revenue)[38] - Product revenue accounted for $13.2 million (43% of total revenue)[38] - Gross margins were 48.3%, with service margins at 62.3% and product margins at 29.6%[38] - Operating cash flow was $2.8 million[38] Financial Performance (Annual) - The company's target model aims for $200 million+ in revenue, with 50% ($100 million) from services/recurring revenue, a 55% gross profit ($110 million), and a 25% adjusted EBITDA ($50 million)[43]

Company Overview - PowerFleet is a leading global B2B mobile fleet and asset management company serving the industrial, logistics, and commercial vehicle industries[5] - The company has an expanding patent portfolio, including 53 granted and pending patents[5] - PowerFleet projects combined revenue of $150 million in 2020, including $75 million in high-margin service revenue[13] - As of December 31, 2019, PowerFleet had $164 million in cash and cash equivalents, $349 million in debt, and $10 million available under an unused credit facility[46] Market Opportunity and Growth - The global logistics market is projected to grow from $81 trillion in 2015 to $155 trillion in 2023, representing a 75% Compound Annual Growth Rate (CAGR)[18] - The global warehouse management system market is expected to grow from $21 billion in 2018 to $48 billion in 2024, a 152% CAGR[21] - The connected vehicle market is projected to grow from $732 billion in 2018 to $237 billion in 2025, a 142% CAGR[21] - Worldwide spending on the Internet of Things (IoT) is forecast to reach $745 billion in 2019, a 154% increase over the $646 billion spent in 2018[24] Financial Performance - Q4 2019 total revenue was $351 million, up 17% year-over-year on a pro forma basis, with $165 million in product revenue (47% of revenue) and $187 million in service revenue (53% of revenue)[39] - The company targets $200 million+ in revenue, with 50% from services/recurring revenue ($100 million), a 55% gross profit ($110 million), and a 25% adjusted EBITDA ($50 million)[44]

[Part I](index=5&type=section&id=PART%20I) [Business](index=7&type=section&id=Item%201.%20Business) Powerfleet provides AIoT solutions via its Unity platform, managing high-value assets for over 50,000 global customers, expanded by 2024 acquisitions - The company's core strategy revolves around its 'Unity' data highway and AIoT ecosystem, which ingests, harmonizes, and analyzes data from multiple sources to provide customers with a unified view of their operations[20](index=20&type=chunk)[21](index=21&type=chunk)[22](index=22&type=chunk) - Powerfleet completed two major strategic transactions: the MiX Telematics combination on April 2, 2024, and the Fleet Complete acquisition on October 1, 2024, making both entities indirect, wholly-owned subsidiaries[30](index=30&type=chunk)[31](index=31&type=chunk) - The company serves over **50,000 enterprise and mid-market customers** across various industries, including logistics, manufacturing, and vehicle rental. Notable global customers include Avis, Walmart, Toyota, and XPO Logistics[64](index=64&type=chunk)[67](index=67&type=chunk) - As of June 4, 2025, the company had **2,518 full-time employees** globally[97](index=97&type=chunk) [Our Solutions](index=8&type=section&id=Our%20Solutions) The Unity platform provides SaaS-based modules for vehicle, video, and in-warehouse IoT, enabling comprehensive asset management - The Unity platform provides SaaS-based modules for vehicle, video, and in-warehouse IoT, enabling customers to manage asset utilization, safety, fuel, compliance, and high-risk incidents in a single interface. It was recognized by ABI Research as the **number one global platform solution** in its market in 2025[33](index=33&type=chunk)[58](index=58&type=chunk) - Key applications of the AIoT solutions include: **End-to-End Visibility**, **Regulatory Compliance**, **Safety Improvement**, **Operational Efficiency**, and **Security**[35](index=35&type=chunk)[36](index=36&type=chunk)[37](index=37&type=chunk) [Growth Strategy](index=11&type=section&id=Growth%20Strategy) The company aims to be a leading global AIoT SaaS provider, accelerating this goal through strategic 2024 acquisitions - The company's primary objective is to become a leading global provider of AIoT SaaS solutions. The acquisitions of MiX Telematics and Fleet Complete in 2024 have accelerated this strategy[57](index=57&type=chunk)[58](index=58&type=chunk) - Key growth initiatives include focusing go-to-market strategies by vertical markets, expanding customer base and cross-selling, differentiating products through analytics, and expanding partnerships and acquisitions[58](index=58&type=chunk)[66](index=66&type=chunk) [Intellectual Property](index=14&type=section&id=Intellectual%20Property) The company holds 34 U.S. patents and 3 foreign patents, plus an extensive trademark portfolio significantly expanded by recent acquisitions - As of May 23, 2025, the company's patent portfolio includes **34 U.S. patents**, 2 pending U.S. patent applications, and **3 foreign patents**, with expiration dates between 2026 and 2040[74](index=74&type=chunk) - The company holds an extensive portfolio of trademarks, significantly expanded through the acquisitions of MiX Telematics and Fleet Complete, including brands like POWERFLEET®, UNITY®, MiX Telematics®, and FLEET COMPLETE®[75](index=75&type=chunk)[77](index=77&type=chunk)[78](index=78&type=chunk) [Risk Factors](index=19&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from integrating recent acquisitions, substantial debt, supply chain disruptions, and material weaknesses in internal controls - The company may not realize all anticipated benefits from the MiX Combination and FC Acquisition due to challenges in integrating operations, technologies, and personnel, which could adversely affect financial results[104](index=104&type=chunk)[106](index=106&type=chunk)[109](index=109&type=chunk) - The company has a history of significant net losses, with an accumulated deficit of **$205.8 million** as of March 31, 2025. Failure to achieve profitability could negatively impact the stock price[111](index=111&type=chunk) - Significant additional indebtedness was incurred to finance the acquisitions and redeem preferred stock, increasing borrowing costs and reducing operational flexibility[148](index=148&type=chunk)[150](index=150&type=chunk)[151](index=151&type=chunk) - The company has reported material weaknesses in its internal control over financial reporting. Failure to remediate these weaknesses could impair the ability to produce accurate and timely financial statements[164](index=164&type=chunk)[165](index=165&type=chunk)[166](index=166&type=chunk) - Operations are dependent on a complex global supply chain and a limited number of suppliers for critical components like semiconductors. Disruptions could materially harm the business[119](index=119&type=chunk)[120](index=120&type=chunk)[170](index=170&type=chunk) - Business operations in Israel and South Africa expose the company to specific geopolitical, economic, and regulatory risks, such as the conflict in the Middle East and B-BBEE requirements in South Africa[179](index=179&type=chunk)[182](index=182&type=chunk)[188](index=188&type=chunk) [Cybersecurity](index=36&type=section&id=Item%201C.%20Cybersecurity) Cybersecurity governance is overseen by the Board, with day-to-day management by a CISO and committee, employing structured risk management - The Board of Directors has ultimate oversight of cybersecurity risk, with the Chief Information Security Officer (CISO) and a cross-functional Information Security Steering Committee managing the program[195](index=195&type=chunk)[196](index=196&type=chunk)[197](index=197&type=chunk) - The company's risk management strategy includes regular internal cybersecurity risk assessments, as well as engaging external firms for independent audits, penetration testing, and vulnerability assessments[201](index=201&type=chunk)[202](index=202&type=chunk)[203](index=203&type=chunk) - As of the report date, the company states that no risks from cybersecurity threats have materially affected or are reasonably likely to materially affect its business, operations, or financial condition[205](index=205&type=chunk) [Properties](index=37&type=section&id=Item%202.%20Properties) The company leases all its properties, including its corporate headquarters and various domestic and international offices, deemed adequate for current needs - The company leases all its properties, including its corporate headquarters in Woodcliff Lake, NJ, and other domestic and international offices[206](index=206&type=chunk)[207](index=207&type=chunk) [Legal Proceedings](index=37&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in several legal matters, including a reduced tax dispute in Brazil and two patent infringement lawsuits in the U.S - A tax dispute in Brazil regarding a deficiency notice has been reduced from approximately **$6.9 million** to **$197,000** after a favorable administrative decision, and management believes the chance of loss is not probable[539](index=539&type=chunk) - The company faces two patent infringement lawsuits from Fleet Connect Solutions LLC in the Eastern District of Texas. The company is defending the claims but is currently unable to estimate a potential loss[541](index=541&type=chunk) [Part II](index=37&type=section&id=PART%20II) [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=37&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Powerfleet's common stock is dual-listed on Nasdaq (AIOT) and JSE (PWR), with no cash dividends paid or anticipated, as earnings are retained for business operations - The company's common stock is dual-listed on The Nasdaq Global Market (AIOT) and the Johannesburg Stock Exchange (PWR)[212](index=212&type=chunk) - The company has never paid a cash dividend on its common stock and does not anticipate paying one in the near future[213](index=213&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=39&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) For FY2025, revenues surged 171.1% to $362.5 million, driven by acquisitions, but a net loss of $51.0 million resulted from significant acquisition and restructuring costs, with liquidity supported by cash and credit [Results of Operations](index=41&type=section&id=Results%20of%20Operations) For FY2025, total revenue increased 171.1% to $362.5 million, primarily due to acquisitions, while net loss widened to $51.0 million due to acquisition and restructuring costs Financial Performance Comparison (FY2025 vs. FY2023) | Metric | Year Ended Mar 31, 2025 | Year Ended Dec 31, 2023 | Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | **$362.5M** | **$133.7M** | **+171.1%** | | Gross Profit | $194.5M | $67.1M | +189.9% | | Gross Margin | 53.7% | 50.2% | +3.5 p.p. | | SG&A Expenses | $204.4M | $71.3M | +186.8% | | Loss from Operations | ($25.9M) | ($12.6M) | +105.6% | | Net Loss Attributable to Common Stockholders | ($51.0M) | ($17.3M) | +194.8% | - The significant increase in revenue for the year ended March 31, 2025, was primarily due to contributions from the newly acquired MiX Telematics (**$171.2 million**) and Fleet Complete (**$59.0 million**) businesses[237](index=237&type=chunk)[238](index=238&type=chunk) - The increase in net loss for FY2025 was driven by **$21.3 million** in acquisition-related expenses, **$10.1 million** in restructuring charges, **$4.9 million** in integration costs, and **$14.8 million** in amortization of acquisition-related intangibles[242](index=242&type=chunk)[244](index=244&type=chunk) Financial Performance Comparison (Q1 2025 vs. Q1 2024) | Metric | Three Months Ended Mar 31, 2025 | Three Months Ended Mar 31, 2024 | Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | **$103.6M** | **$33.7M** | **+207.2%** | | Gross Profit | $54.8M | $16.2M | +238.3% | | Gross Margin | 52.8% | 48.0% | +4.8 p.p. | | Net Loss Attributable to Common Stockholders | ($12.4M) | ($19.6M) | -36.7% | [Non-GAAP Financial Information](index=45&type=section&id=Non-GAAP%20Financial%20Information) This section provides reconciliations of non-GAAP financial measures, including Adjusted EBITDA and Headline Loss per Share, to their most directly comparable GAAP measures Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | | Year Ended Mar 31, 2025 | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | :--- | | Net loss attributable to common stockholders | $(51,012) | $(17,307) | $(16,891) | | **Adjusted EBITDA** | **$71,131** | **$6,631** | **$8,148** | Headline Loss per Share (in thousands, except per share data) | | Year Ended Mar 31, 2025 | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | :--- | | Net loss attributable to common stockholders | $(51,012) | $(17,307) | $(16,891) | | **Headline loss** | **$(51,021)** | **$(26,341)** | **$(16,891)** | | Headline loss per share | $(0.43) | $(0.74) | $(0.48) | [Liquidity and Capital Resources](index=48&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity is supported by $48.8 million in cash and available credit facilities, despite incurring significant debt to fund recent acquisitions Liquidity Position | Metric | As of Mar 31, 2025 | As of Mar 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents (incl. restricted) | $48.8M | $109.7M | | Working Capital | $18.1M | $126.2M | - The company incurred significant debt to fund recent acquisitions, including an **$85 million** term loan facility and a **$125 million** term loan facility from RMB, as well as refinancing and expanding credit facilities with Bank Hapoalim[282](index=282&type=chunk)[296](index=296&type=chunk)[489](index=489&type=chunk) - In connection with the MiX Combination, the company redeemed all outstanding Series A convertible preferred stock for **$90.3 million** on April 2, 2024[282](index=282&type=chunk) Cash Flow Summary (Year Ended Mar 31, 2025) | Cash Flow Activity | Amount (in millions) | | :--- | :--- | | Net cash used in operating activities | $(3.3) | | Net cash used in investing activities | $(170.6) | | Net cash provided by financing activities | $115.7 | [Financial Statements and Supplementary Data](index=54&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) The audited FY2025 financial statements reflect significant asset and liability growth due to acquisitions, resulting in a $51.0 million net loss, with the auditor issuing an unqualified opinion on financials but an adverse opinion on internal controls - The company's independent auditor, Deloitte & Touche, issued an **unqualified opinion** on the financial statements for the year ended March 31, 2025, but an **adverse opinion** on the effectiveness of the company's internal control over financial reporting[319](index=319&type=chunk)[321](index=321&type=chunk) Consolidated Balance Sheet Highlights (in thousands) | | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents (incl. restricted) | $48,788 | $109,664 | | Total Current Assets | $169,080 | $169,788 | | Goodwill | $383,146 | $83,487 | | Intangible assets, net | $258,582 | $19,652 | | **Total Assets** | **$910,071** | **$308,680** | | Total Current Liabilities | $151,009 | $43,590 | | Long-term debt | $232,160 | $113,810 | | **Total Liabilities** | **$463,329** | **$179,771** | | **Total Stockholders' Equity** | **$446,742** | **$38,636** | Consolidated Statement of Operations (Year Ended March 31, 2025, in thousands) | Metric | Amount | | :--- | :--- | | Total Revenues | $362,515 | | Gross Profit | $194,537 | | Loss from Operations | $(25,885) | | Net Loss | $(50,987) | | Net Loss Attributable to Common Stockholders | $(51,012) | | Net Loss Per Share | $(0.43) | - The acquisitions of MiX Telematics and Fleet Complete were accounted for as business combinations, adding a combined **$299.0 million** in goodwill and **$252.0 million** in identifiable intangible assets (customer relationships, technology, tradenames)[426](index=426&type=chunk)[438](index=438&type=chunk)[458](index=458&type=chunk) [Controls and Procedures](index=113&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls were ineffective as of March 31, 2025, due to material weaknesses in internal control over financial reporting at subsidiaries, leading to an adverse auditor opinion and ongoing remediation - Management concluded that disclosure controls and procedures were **not effective** as of March 31, 2025, due to material weaknesses in internal control over financial reporting[545](index=545&type=chunk) - A material weakness was identified related to the design and execution of controls over manual journal entries at I.D. Systems and Pointer Mexico, citing segregation of duties issues and a lack of documented review[551](index=551&type=chunk)[556](index=556&type=chunk) - A second material weakness was identified in the financial close and reporting process at the newly acquired Fleet Complete, due to ineffective general IT controls (user access, change management) and a lack of segregation of duties for manual journal entries[553](index=553&type=chunk)[554](index=554&type=chunk)[557](index=557&type=chunk) - The company's independent registered public accounting firm, Deloitte & Touche, issued an **adverse opinion** on the effectiveness of internal control over financial reporting as of March 31, 2025[554](index=554&type=chunk)[563](index=563&type=chunk) - A remediation plan is in progress, which includes redesigning automated controls, implementing a standardized ERP system, and enhancing review procedures and IT controls at the affected subsidiaries[555](index=555&type=chunk)[558](index=558&type=chunk)[561](index=561&type=chunk) [Part III](index=119&type=section&id=PART%20III) [Directors, Executive Compensation, and Corporate Governance](index=119&type=section&id=Items%2010-14) Information for Items 10 through 14, covering directors, executive compensation, and corporate governance, is incorporated by reference from the company's 2025 Proxy Statement - Information for Items 10, 11, 12, 13, and 14 is incorporated by reference from the company's 2025 Annual Meeting of Stockholders Proxy Statement[579](index=579&type=chunk)[580](index=580&type=chunk)[581](index=581&type=chunk) [Part IV](index=121&type=section&id=PART%20IV) [Exhibits and Financial Statement Schedules](index=121&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists all financial statements, schedules, and exhibits filed with the report, including acquisition agreements, debt facilities, and executive compensation plans - This section provides a comprehensive list of all financial statements and exhibits filed with the report, including acquisition agreements, debt facilities, and executive compensation plans[585](index=585&type=chunk)[587](index=587&type=chunk)

Group 1 - The focus is on producing objective, data-driven research primarily about small- to mid-cap companies, which are often overlooked by many investors [1] - Occasionally, large-cap companies are analyzed to provide a broader perspective on the equity markets [1] Group 2 - There is a potential intention to initiate a beneficial long position in AIOT through stock or options purchase within the next 72 hours [2] - The article expresses the author's own opinions and is not influenced by compensation from any company mentioned [2]

Group 1 - Powerfleet, Inc. is scheduled to attend the Northland Growth Conference 2025 on June 25th to discuss its AIoT platform and its financial discipline [1] - The company emphasizes its commitment to delivering results at scale and a clear roadmap to enhance shareholder value [1] - Powerfleet is a global leader in the AIoT software-as-a-service (SaaS) mobile asset industry with over 30 years of experience [2] Group 2 - Powerfleet's operations focus on unifying business processes through data integration and providing actionable insights to improve efficiency and safety [2] - The company is headquartered in New Jersey, United States, and has a global presence with offices worldwide [2] - Powerfleet is listed on the Nasdaq Global Market and has a secondary listing on the Johannesburg Stock Exchange [2]

Core Viewpoint - Powerfleet (NASDAQ: AIOT) is poised for a significant rebound after a more than 50% correction from its 2025 high, with promising growth indicators emerging from its FQ4 results [2][4]. Group 1: Financial Performance - FQ4 results showed tepid performance relative to analyst forecasts, but the company experienced hypergrowth with a 200% year-over-year revenue increase, supported by acquisitions [4]. - The company improved profitability in FQ4, with a 49% increase in its core service business and organic growth of 20% in the Video segment and 17% in Warehouse Safety [5]. - Gross margin improved by 700 basis points, and adjusted EBITDA margin expanded by 500 basis points, leading to a 65% increase in EBITDA [6]. Group 2: Strategic Outlook - The company completed transformation efforts involving acquisitions and reorganizations, focusing on higher-margin IoT-enabled SaaS video and warehouse safety/security operations [3]. - The outlook is positive, with opportunities for cross- and upselling through new clients and acquisitions, indicating confidence in growth expansion [7]. - Analysts forecast a sustainable growth rate of 20% annually in 2026, with earnings growth expected to exceed 100% over the next three to five years [8]. Group 3: Market Sentiment and Analyst Ratings - Analysts have a bullish outlook on Powerfleet, with a 12-month price target of $10.50, representing a 115.38% upside from the current price of $4.88 [9]. - Institutional interest is strong, with over 70% of the stock owned by institutions, which have been actively buying, totaling nearly half a billion dollars in shares during H1 [11]. - Post-release price action indicates a positive market sentiment, with an 8% surge in stock price, suggesting potential for further gains [12].

PowerFleet (AIOT) Q4 2025 Earnings Call June 16, 2025 08:30 AM ET Company Participants David Wilson - CFOSteve Towe - CEO & DirectorMelissa Ingram - Chief Corporate Development OfficerCraig Fisk - EVP - Sales & Marketing NAGary Prestopino - Managing DirectorAlexander Sklar - Vice President Conference Call Participants Scott Searle - MD & Senior Research AnalystAnthony Stoss - AnalystDylan Becker - Research AnalystGreg Gibas - VP & Senior Research Analyst Operator Greetings. Welcome to PowerFleet's Fourth Qu ...