Powerfleet, Inc. ( (AIOT) ) has released its Q1 earnings. Here is a breakdown of the information Powerfleet, Inc. presented to its investors.
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Powerfleet, Inc. is a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry, providing data-driven insights to enhance business operations and safety. In its latest earnings report for the first quarter of fiscal year 2026, Powerfleet highlighted a robust 6% sequential growth in services revenue, contributing to a total revenue increase of 38% year-over-year. This growth was primarily driven by the company’s strategic shift towards high-margin, recurring revenue streams. Key financial metrics included a 58% rise in adjusted EBITDA to $21.6 million and a significant expansion in gross profit, which increased by $16.8 million to $56.5 million. The company’s EBITDA expansion program has already achieved 60% of its annual savings target. Powerfleet also raised its full-year revenue guidance to $430-$440 million, reflecting confidence in its growth trajectory. Looking ahead, Powerfleet’s management remains optimistic about continued profitable growth, driven by its AI-driven SaaS solutions and strategic partnerships, positioning the company well for future success.