Powerfleet, Inc.(US:AIOT)2025-08-11 12:30Financial Performance - Total revenue increased by 38% year-over-year to $104.1 million[17] - Adjusted EBITDA increased by 58% year-over-year to $21.6 million[17] - Adjusted EBITDA gross margins increased from 64% to 67% year-over-year[17] - Service revenue grew sequentially by 6% and now represents 83% of total revenue[17, 56] - Net debt to EBITDA ratio improved to 2.97x compared to 3.17x in the prior quarter[17] Go-to-Market Momentum - New logo wins increased sequentially by 14% QoQ, with over 175 B2B customers[18] - AI video ARR bookings increased by 52% compared to the previous quarter, driven by indirect channel partners[18] - In-warehouse recurring revenue increased by 24% year-over-year[19] - ARR pipeline build increased by 19% compared to the prior quarter[19] Key Wins and Partnerships - Secured strategic deals with TCV ranging from $400K+ to $750K+ with companies in logistics, food & beverage, rental & leasing, agriculture, and manufacturing[21] - Partnered with MTN Business, one of the world's largest mobile network operators with $7.4 billion annual revenue and 297 million customers, to accelerate enterprise IoT adoption[22, 23] - Won a large-scale operation-wide deployment with SIXT Rental, focusing on AI-powered control over costs, productivity, and accountability[24, 25] Transformation Initiatives - Actioned $11 million in annualized savings in Q1 FY26, part of the $18 million committed for FY26[68, 70] - Expects Net Debt to EBITDA to improve from ~3.25 times at year end FY25 to less than 2.25 times at year end FY26[63, 64]