Wall Street analysts forecast that PowerFleet (AIOT) will report quarterly loss of $0.01 per share in its upcoming release, pointing to a year-over-year increase of 88.9%. It is anticipated that revenues will amount to $74.54 million, exhibiting an increase of 118% compared to the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______. Commission file number: 001-39080 POWERFLEET, INC. (Exact name of registrant as specified in its charter) Delaware 83-4366463 (State or other jur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______. Commission file number: 001-39080 POWERFLEET, INC. (Exact name of registrant as specified in its charter) Delaware 83-4366463 (State or other jur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______. Commission file number: 001-39080 POWERFLEET, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (IRS Em ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020. [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______. Commission file number: 001-39080 POWERFLEET, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (IRS Employer incorporation or organization) Id ...

PART I [Item 1. Business](index=6&type=section&id=Item%201.%20Business) PowerFleet provides global subscription-based wireless IoT and M2M solutions for enterprise asset management, enhanced by SaaS analytics platforms [Overview](index=6&type=section&id=Overview) PowerFleet offers subscription-based IoT/M2M solutions for asset management, leveraging patented technologies and SaaS analytics to boost efficiency and profitability - PowerFleet offers advanced mobility solutions that connect assets to increase visibility, operational efficiency, and profitability, differentiating itself by being OEM agnostic and managing mixed fleets[22](index=22&type=chunk)[231](index=231&type=chunk) - The analytics platform provides a single, integrated view of asset and operator activity across multiple locations, offering enterprise-wide benchmarks and peer-industry comparisons[23](index=23&type=chunk)[232](index=232&type=chunk) [PowerFleet for Industrial](index=6&type=section&id=PowerFleet%20for%20Industrial) Industrial solutions manage on-premise assets like industrial trucks and airport equipment, categorized by density and specific applications like safety and aviation - Essence solutions are designed for low-density fleets, offering easy-to-install hardware and software for electronic record keeping, safety checklists, and regulatory compliance without requiring IT departments[25](index=25&type=chunk) - Safety solutions include a broad range of equipment for powered industrial vehicles, such as lights, alarms, camera systems, speed throttles, and anti-theft solutions[33](index=33&type=chunk) [PowerFleet for Logistics](index=8&type=section&id=PowerFleet%20for%20Logistics) Logistics solutions offer comprehensive asset management and monitoring for over-the-road assets, enhancing visibility, safety, and security across global supply chains - Logistics Visibility (LV) product family offers mobile-asset tracking and condition-monitoring solutions for tractors, dry van trailers, refrigerated trailers/containers, chassis, shipping containers, and cargo[28](index=28&type=chunk)[34](index=34&type=chunk) - LV solutions improve asset utilization through two-way integrated workflows, ELD compliance, asset pool monitoring, and reporting insights, while enhancing control with geo-fencing alerts and on-board intelligence[29](index=29&type=chunk)[30](index=30&type=chunk) - Cargo security is improved with features like asset lockdown, emergency tracking, geo-fencing alerts for prohibited areas, and near real-time environmental sensors (temperature, humidity, shock)[31](index=31&type=chunk)[34](index=34&type=chunk) [PowerFleet for Vehicles](index=8&type=section&id=PowerFleet%20for%20Vehicles) Vehicle solutions enhance fleet management for rental cars and private fleets, offering automated processes, car sharing, and stolen vehicle retrieval services - Rental fleet management systems automate VIN, mileage, and fuel data uploads, expediting rental/return processes, providing timely inventory status, and generating higher fuel-related revenue[36](index=36&type=chunk) - Car sharing solutions enable remote control, tracking, and monitoring of rental vehicles, managing reservations via smartphone/Internet and charging members hourly[37](index=37&type=chunk) - The company provides stolen vehicle retrieval (SVR) services, predominantly in Israel, and has developed a connected car solution offered in Israel to expand its consumer target market[40](index=40&type=chunk) [Analytics and Deep Learning](index=10&type=section&id=Analytics%20and%20Deep%20Learning) Analytics platforms offer comprehensive asset activity views, using deep learning for logistics to identify operational aspects and generate benchmarks for informed decisions - Image deep learning systems process freight camera images to identify key operational aspects, geospatial information, cargo type, load status, and visible issues like damage[41](index=41&type=chunk) - Analytics platforms quantify best-practice enterprise benchmarks for industrial asset utilization and safety, revealing inefficiencies and opportunities to optimize asset allocation and reduce costs[43](index=43&type=chunk) [Services](index=10&type=section&id=Services) The company provides hosting, SaaS, maintenance, and customer support services to reduce costs, improve quality, and ensure optimal system performance - **Hosting Services** provide remote system access, reducing support costs and improving quality control by separating the system from customer IT networks[45](index=45&type=chunk) - **SaaS** offerings include system monitoring, help desk technical support, escalation procedures, routine diagnostic data analysis, and software updates[46](index=46&type=chunk) - Customer Support and Consulting Services include various training phases (hardware, software, admin) and documentation, with increasing use of scalable online interactive tools[48](index=48&type=chunk)[49](index=49&type=chunk) [Growth Strategy](index=11&type=section&id=Growth%20Strategy) Growth strategy targets global leadership in wireless solutions through vertical market focus, sales expansion, product differentiation, and strategic acquisitions - Key strategies include focusing business solutions by vertical markets, positioning as an innovative thought leader, maintaining a world-class sales and marketing team, and identifying and managing revenue opportunities[51](index=51&type=chunk)[55](index=55&type=chunk) - The company plans to expand into new applications and markets by integrating its system with computer hardware and software vendors (OEMs, TMS, WMS, ERP), establishing global distributors, and evaluating strategic acquisitions[51](index=51&type=chunk)[55](index=55&type=chunk) [Sales and Marketing](index=11&type=section&id=Sales%20and%20Marketing) Sales and marketing use direct and indirect channels, focusing on strategic partnerships, demonstrating ROI, and expanding enterprise-wide system deployments - Sales are conducted directly to commercial and government organizations and through indirect channels such as OEMs, vehicle importers, distributors, and industrial equipment dealers[52](index=52&type=chunk) - The company works closely with customers to prove **ROI** (typically less than **12 months**) and maximize system utilization, aiming for enterprise-wide deployments and enhanced analytics capabilities[54](index=54&type=chunk)[56](index=56&type=chunk) [Customers](index=13&type=section&id=Customers) The company serves diverse commercial and government customers, building long-term relationships through master agreements for product and service sales - Customers operate in diverse markets such as automotive manufacturing, retail, food and grocery distribution, logistics, shipping, freight transportation, heavy industry, wholesale distribution, manufacturing, aerospace and defense, homeland security, and vehicle rental[58](index=58&type=chunk) - Master agreements define terms for product and service sales, including payment, support, termination, and assignment rights, generally obligating the company only when products or services are actually sold[59](index=59&type=chunk) [Competition](index=13&type=section&id=Competition) The market is highly competitive, fragmented, and rapidly evolving, with competition from small startups to large, well-capitalized organizations - The market is **rapidly evolving**, **highly competitive**, and fragmented, subject to quickly changing product technologies, shifting customer needs, regulatory requirements, and frequent new product/service introductions[61](index=61&type=chunk) - Competitors include small, start-up companies as well as large, well-capitalized organizations, many of which are involved in wireless technology as an extension of a broader business[62](index=62&type=chunk)[63](index=63&type=chunk) [Research and Development](index=13&type=section&id=Research%20and%20Development) R&D expands product capabilities, differentiates offerings, simplifies solutions, and reduces costs, with key investments in logistics and vehicle solutions - **R&D** efforts focus on expanding product capabilities, differentiating offerings, simplifying implementation, reducing costs, increasing reliability, and building competitive advantages through intellectual property[65](index=65&type=chunk) - In **2019**, **R&D** investments included evolving end-to-end system security, improving PowerFleet for Logistics solutions (dry van, intermodal, ELD, refrigerated), commercializing image-based cargo evaluation, and enhancing PowerFleet for Vehicles functionality[66](index=66&type=chunk) [Intellectual Property](index=14&type=section&id=Intellectual%20Property) The company protects its technology with 49 U.S. patents and trademarks, but faces risks of third-party infringement claims and challenges in policing unauthorized use - As of **March 23, 2020**, PowerFleet's patent portfolio included **49 U.S. patents** (expiring **2020-2036**), **4 pending U.S. patent applications**, **3 pending foreign patent applications**, and **1 foreign patent**[68](index=68&type=chunk) - The company holds U.S. and/or foreign trademark protection for brands such as POWERFLEET®, POWERFLEET VISION®, POWERFLEET IQ®, I.D. SYSTEMS®, VEHICLE ASSET COMMUNICATOR®, VERIWISE IQ®, ASSET INTELLIGENCE®, didBOX®, FREIGHTCAM, KEYTROLLER®, POINTER®, and CELLOCATOR®[18](index=18&type=chunk)[69](index=69&type=chunk) - Risks include potential infringement of third-party proprietary rights, which could require licenses, re-engineering, litigation, or settlements, and the difficulty of policing unauthorized use of software products[70](index=70&type=chunk)[71](index=71&type=chunk) [Manufacturing](index=14&type=section&id=Manufacturing) Hardware manufacturing is outsourced to contract manufacturers, creating flexibility but also risks from limited suppliers and inefficient inventory management - Hardware manufacturing operations are outsourced to contract manufacturers to focus on core competencies and avoid capital-intensive electronics manufacturing infrastructure[72](index=72&type=chunk) - Manufacturers depend on a limited number of suppliers for components, which can lead to shortages and increased production costs due to unexpected demand[73](index=73&type=chunk) - Ineffective inventory forecasting and management can result in excess or obsolete inventory, negatively affecting operating results[75](index=75&type=chunk) [Government Regulations](index=16&type=section&id=Government%20Regulations) Products and operations are subject to U.S. and international regulations, with unfavorable changes potentially leading to significant compliance costs or market impact - The use of radio emissions is subject to regulation by federal agencies like the **FCC** and **OSHA** in the U.S., and various state agencies[76](index=76&type=chunk) - PowerFleet has obtained **FCC certification** for its products in the U.S. and European Norm (**EN**) certifications for the European Union, utilizing unlicensed radio spectra[78](index=78&type=chunk) - Subsidiaries hold operational licenses in Israel (Ministry of Communications) and registrations in Argentina (Federal Department of Security) and South Africa (Private Security Industry Regulation Act, **2001**)[81](index=81&type=chunk)[82](index=82&type=chunk) [Employees](index=16&type=section&id=Employees) As of March 23, 2020,