Core Insights - Powerfleet, Inc. has announced that IMC Logistics, LLC, the largest marine drayage provider in the U.S., has deployed its Unity platform, which offers real-time visibility and harmonization of data across North America [7] - The Unity platform consolidates data from various sources and IoT devices, eliminating the challenges associated with multiple providers and portals, thus providing a future-proof solution for IMC [1][7] - IMC Logistics has leveraged Powerfleet's hardware and SaaS solutions to achieve complete asset visibility from port to final destination, enhancing operational efficiency [2] Company Overview - IMC Logistics, LLC is recognized as the largest marine drayage company in the United States, operating a vast fleet of trucks and chassis, along with an integrated network of secure depots and transloading facilities [8] - Powerfleet is a global leader in the AIoT SaaS mobile asset industry, with over 30 years of experience in unifying business operations through data integration and actionable insights [9] Partnership Impact - The partnership between IMC and Powerfleet exemplifies the transformative power of data in unifying operations to meet business objectives, with IMC revolutionizing the transportation space [8] - The implementation of the Unity platform has addressed asset visibility challenges for IMC, reducing the need for constant equipment search and re-evaluation [12]

Company Overview - Powerfleet, Inc. is a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry, with over 30 years of experience in unifying business operations through data integration and actionable insights [2][13]. - The company is headquartered in New Jersey, United States, and has a commitment to innovation and a people-centric approach that empowers customers to achieve sustained business improvement [2]. Market Position and Developments - Powerfleet is set to join the small-cap Russell 2000® Index effective July 1, 2024, which reflects its evolution and deepening penetration of blue-chip customers globally [2][13]. - The ticker symbol for Powerfleet will change to "AIOT" on The Nasdaq Global Market, effective with the market opening on July 1, 2024, aligning with its identity in the AIoT sector [7][13]. Strategic Goals - The company aims to meet and exceed the SaaS Rule of 40 metrics within two years through integration and growth strategies [2]. - Powerfleet's strategy focuses on driving meaningful business change for customers through its IoT device-agnostic and AI-led data highway, Unity, which unlocks additional value creation opportunities for shareholders [2]. Industry Context - FTSE Russell indexes are widely used by institutional and retail investors for benchmarking investment performance and creating ETFs, structured products, and index-based derivatives [3][9]. - The Russell US Indexes annual reconstitution captures the 4,000 largest US stocks, ranking them by total market capitalization, which is significant for investors and market participants [14].

Core Viewpoint - PowerFleet (PWFL) has shown a significant price increase of 24.2% over the past four weeks, with analysts projecting a mean price target of $8.43, indicating a potential upside of 60.9% from the current price of $5.24 [1] Price Targets and Analyst Consensus - The average price target consists of seven estimates ranging from a low of $7 to a high of $10, with a standard deviation of $1.40, suggesting a variability in analyst predictions [2] - The lowest estimate indicates a potential increase of 33.6%, while the most optimistic estimate suggests a 90.8% upside [2] - A low standard deviation indicates strong agreement among analysts regarding the stock's price movement direction and magnitude [8] Earnings Estimates and Market Sentiment - Analysts have shown increasing optimism about PWFL's earnings prospects, as evidenced by a strong consensus in revising EPS estimates higher [10] - Over the last 30 days, the Zacks Consensus Estimate for the current year has increased by 170.6%, with one estimate moving higher and no negative revisions [11] - PWFL holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside [12]

Core Insights - Powerfleet, Inc. is a global leader in the AIoT SaaS mobile asset industry, focusing on driving business change and digital transformation for its customers [1][2] Company Overview - Powerfleet has over 30 years of experience in unifying business operations through data ingestion, harmonization, and integration, providing actionable insights to save lives, time, and money [2] - The company is headquartered in New Jersey, United States, and has a global presence with offices around the world [2] Upcoming Events - Powerfleet management is scheduled to present at the 21st Annual Craig-Hallum Institutional Investor Conference on May 29th and the William Blair Growth Stock Conference on June 4th at 2:00 PM CT [3]

Core Viewpoint - PowerFleet, Inc. is under investigation for potential securities fraud and unlawful business practices following its failure to timely file its Annual Report for the fiscal year ended December 31, 2023, and the need to restate previous financial statements [1][2]. Financial Reporting Issues - PowerFleet disclosed that its previously released financial statements for the fiscal years ended December 31, 2021, and 2022, as well as interim periods during 2022 and 2023, should no longer be relied upon and will be restated [2]. - The company indicated that the accounting treatment related to the redemption premium of its Series A convertible preferred stock required correction, leading to an increase in net loss attributable to common stockholders by approximately $5 million, $6 million, and $5 million for the fiscal years ended December 31, 2021, 2022, and the nine months ended September 30, 2023, respectively [3]. - Additionally, increases in convertible redeemable preferred stock are expected to be approximately $11 million, $16 million, and $21 million as of December 31, 2021, 2022, and September 30, 2023, respectively, along with corresponding decreases in additional paid-in capital [3]. Market Reaction - Following the announcement of these issues, PowerFleet's stock price fell by $0.31 per share, or 6.54%, closing at $4.43 per share on April 8, 2024 [4].

Core Insights - Powerfleet, Inc. announced the winners of its first-ever Customer Awards at the Heartbeat annual customer conference, recognizing innovation and business transformation in AIoT solutions [1][2] - The conference emphasized the importance of customer insights in enhancing mission-critical solutions and customer experience, particularly following the merger with MiX Telematics [2] Awards Summary - The Customer Awards were given in four categories: Safety, Sustainability, AIoT Innovator, and Overall Excellence [3] - Nucor received the Safety First Award for its commitment to safety metrics and culture [3] - Cardiff Bus was awarded the Green Award for achieving fleet sustainability and zero emissions through Powerfleet technology [3] - IMC Companies won the AIoT Innovator Award for effectively using Powerfleet Unity data insights to improve operations and reduce inefficiencies [3] - Walmart was recognized with the Excellence Award for its integration and utilization of Powerfleet solutions in its complex supply chain [3] Company Overview - Powerfleet is a global leader in AIoT software-as-a-service (SaaS) for mobile asset management, with over 30 years of experience [5] - The company focuses on unifying business operations through data integration and actionable insights, aiming to save lives, time, and money [5] - Powerfleet is headquartered in New Jersey, with a global presence [5]

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on PowerFleet (PWFL), and emphasizes the importance of using these recommendations in conjunction with other analytical tools like Zacks Rank for making informed investment decisions [1][4][6]. Brokerage Recommendations - PowerFleet has an average brokerage recommendation (ABR) of 1.13, indicating a consensus between Strong Buy and Buy, with 87.5% of recommendations being Strong Buy and 12.5% being Buy [2][4]. - The article highlights that brokerage analysts tend to exhibit a strong positive bias in their ratings, often issuing five "Strong Buy" recommendations for every "Strong Sell" [5][9]. Zacks Rank Comparison - Zacks Rank categorizes stocks into five groups based on earnings estimate revisions, with a strong correlation to near-term stock price movements, contrasting with the ABR which is based solely on brokerage recommendations [7][10]. - The Zacks Rank for PowerFleet is 2 (Buy), reflecting a significant increase of 170.6% in the Zacks Consensus Estimate for the current year, indicating strong analyst optimism [13][14]. Timeliness and Freshness - The Zacks Rank is noted for its timeliness, as it quickly reflects changes in earnings estimates, unlike the ABR which may not be up-to-date [12].

Group 1 - PowerFleet (PWFL) is a notable stock in the Transportation sector, currently outperforming its peers with a year-to-date return of 60.2% compared to the sector average of 0.3% [4] - The Zacks Rank for PowerFleet is 2 (Buy), indicating a positive outlook based on earnings estimates and revisions, with a 300% increase in the consensus estimate for full-year earnings over the past quarter [3] - PowerFleet belongs to the Transportation - Services industry, which has an average loss of 5.8% this year, further highlighting its strong performance relative to its industry [5] Group 2 - Tsakos Energy (TNP) is another Transportation stock that has shown strong performance, with a year-to-date return of 30.1% and a Zacks Rank of 1 (Strong Buy) [4][5] - The Transportation group is ranked 12 within the Zacks Sector Rank, which includes 16 different groups [2] - The Transportation - Shipping industry, where Tsakos Energy operates, has seen a 17.5% increase since the beginning of the year, indicating a positive trend within that segment [6]

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K 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) (State or other jurisdiction of (IRS Em ...

PowerFleet, Inc. (NASDAQ:PWFL) Q4 2023 Earnings Conference Call March 12, 2024 8:30 AM ET Company Participants Steve Towe - CEO David Wilson - CFO Conference Call Participants Scott Searle - ROTH MKM Mike Walkley - Canaccord Genuity Jaeson Schmidt - Lake Street Capital Markets Gary Prestopino - Barrington Research Matt Pfau - William Blair Operator Good morning. Welcome to PowerFleet's Fourth Quarter and Full-Year 2023 Conference Call. Joining us for today's presentation are the company's CEO, Steve Towe, a ...