Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended: September 30, 2023 or ☐ 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 | 83-436646 ...

PowerFleet, Inc. (NASDAQ:PWFL) Q3 2023 Earnings Conference Call November 9, 2023 8:30 AM ET Company Participants Steve Towe - Chief Executive Officer David Wilson - Chief Financial Officer Conference Call Participants Scott Searle - ROTH MKM Mike Walkley - Canaccord Genuity Jaeson Schmidt - Lake Street Gary Prestopino - Barrington Research Operator Good morning. Welcome to PowerFleet's Third Quarter 2023 Conference Call. Joining us for today's presentation is the company's CEO, Steve Towe, and CFO, David Wi ...

Operational Efficiency and Innovation - PowerFleet reported a significant focus on enhancing operational efficiencies through its IoT solutions, which provide valuable business intelligence for managing high-value enterprise assets [134]. - The company has developed a unified software platform branded as "Unity" to integrate IoT devices and third-party business systems, aiming to drive optimized operations and create safer environments [145]. - PowerFleet has established 46 patents and patent applications, showcasing its commitment to innovation and development in IoT technology [139]. - PowerFleet's applications are designed to increase asset utilization and reduce operational costs, contributing to improved profitability for customers [159]. - The company emphasizes the importance of analytics and machine learning in differentiating its product offerings and adding value to customer operations [141]. Financial Performance - Revenues decreased by approximately $2.5 million, or 7%, to $32.1 million in Q2 2023 from $34.6 million in Q2 2022 [179]. - Product revenues decreased approximately $3.8 million, or 25.7%, to $11.0 million in Q2 2023 from $14.8 million in Q2 2022, primarily due to decreased sales in Germany and geopolitical headwinds [180]. - Service revenues increased approximately $1.3 million, or 6.4%, to $21.0 million in Q2 2023 from $19.8 million in Q2 2022, driven by an increase in the installed base [181]. - Gross profit increased to 50.0% in Q2 2023 from 46.9% in Q2 2022, attributed to higher margin service revenue rising to 67% of total revenue [182]. - Net loss attributable to common stockholders was $4.3 million, or $(0.12) per share, for Q2 2023, compared to a net loss of $1.3 million, or $(0.04) per share, for Q2 2022 [187]. - Revenues for the six months ended June 30, 2023, decreased by approximately $2.9 million, or 4.2%, to $64.9 million from $67.8 million in the same period in 2022 [189]. - Product revenues for the six months ended June 30, 2023, decreased by approximately $5.8 million, or 19.8%, to $23.4 million from $29.2 million in the same period in 2022 [190]. - Service revenues increased by approximately $0.9 million, or 6.3%, to $41.5 million for the six months ended June 30, 2023, compared to $38.5 million in the same period in 2022 [191]. - Cost of revenues decreased by approximately $4.9 million, or 13.1%, to $32.2 million for the six months ended June 30, 2023, resulting in a gross profit of $32.6 million, up from $30.6 million in 2022, with gross profit as a percentage of revenues increasing to 50.3% from 45.2% [192]. - Net loss attributable to common stockholders was $5.5 million, or $(0.15) per share, for the six months ended June 30, 2023, compared to a net loss of $0.8 million, or $(0.02) per share, in the same period in 2022 [198]. Strategic Growth and Market Expansion - The company plans to expand its market presence by focusing on vertical markets, improving marketing strategies, and shortening sales cycles to enhance customer engagement [146]. - PowerFleet is pursuing strategic acquisitions to enhance its capabilities and market reach, indicating a proactive approach to growth [146]. - The acquisition of Movingdots is expected to provide significant additional liquidity, with net cash proceeds of $8.7 million anticipated to exceed associated costs [209]. Cash Flow and Financial Position - As of June 30, 2023, the company had cash and cash equivalents of $22.0 million and working capital of $38.3 million [199]. - The company expects sufficient funds to cover capital requirements through August 10, 2024, based on available working capital and anticipated future revenues [175]. - Net cash provided by operating activities was $1.3 million for the six months ended June 30, 2023, compared to net cash used of $2.7 million in the same period in 2022 [214]. - Net cash provided by investing activities was $4.8 million for the six months ended June 30, 2023, primarily due to $8.7 million in net proceeds from the acquisition of Movingdots [215]. Expenses and Cost Management - Selling, general and administrative expenses increased by approximately $1.1 million, or 7.4%, to approximately $16.9 million in Q2 2023, primarily due to the acquisition of Movingdots [185]. - Research and development expenses increased by approximately $0.2 million, or 8.9%, to approximately $2.2 million in Q2 2023, driven by higher levels of capitalized software [186]. - SG&A expenses increased by approximately $3.0 million, or 9.9%, to $33.8 million, with SG&A as a percentage of revenues rising to 52.0% from 45.4% due to the acquisition of Movingdots and increased operational costs [195]. - R&D expenses decreased by approximately $1.3 million, or 25.3%, to $3.9 million, with R&D as a percentage of revenues decreasing to 6.0% from 7.7% [196].

PowerFleet, Inc. (NASDAQ:PWFL) Q2 2023 Earnings Call Transcript August 8, 2023 8:30 AM ET Company Participants Steve Towe - CEO David Wilson - CFO Conference Call Participants Max Michaelis - Lake Street Capital Markets Gary Prestopino - Barrington Research Scott Searle - ROTH MKM Operator Good morning. Welcome to PowerFleet's Second Quarter 2023 Conference Call. Joining us for today's presentation is the company's CEO, Steve Towe, and CFO, David Wilson. Following their remarks, we will open up the call for ...

PowerFleet, Inc. (NASDAQ:PWFL) Q1 2023 Earnings Conference Call May 9, 2023 8:30 AM ET Company Participants Steve Towe - CEO David Wilson - CFO Conference Call Participants Daniel Park - Canaccord Genuity Max Michaelis - Lake Street Capital Markets Scott Searle - ROTH MKM Gary Prestopino - Barrington Research Operator Good morning, and welcome to PowerFleet's First Quarter 2023 Conference Call. Joining us for today's presentation is the company's CEO, Steve Towe; and CFO, David Wilson. Following their remar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2023 or ☐ 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 | ...

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) (State or other jurisdiction of (IRS Em ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q or For the transition period from __________ to __________ Commission File Number: 001-39080 POWERFLEET, INC. (Exact name of registrant as specified in its charter) | Delaware | 83-436646 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2022 or ☐ 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 | | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ 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 jurisdiction | ...