Powerfleet, Inc. ( (AIOT) ) has released its Q3 earnings. Here is a breakdown of the information Powerfleet, Inc. presented to its investors.
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Powerfleet, Inc. is a leader in the AIoT SaaS mobile asset industry, offering data-driven insights to improve business operations globally. The company reported a robust third-quarter performance, with revenue soaring to $106 million, marking a 45% increase year-over-year, primarily driven by its recent acquisitions. Key financial metrics showed significant growth, with adjusted EBITDA rising by 77% to $22 million and adjusted gross margins exceeding 60%. The company also expanded its service revenue, which now accounts for 77% of total revenue, reflecting the success of its strategic acquisitions and solutions. Looking forward, Powerfleet is optimistic about its growth trajectory, with plans to integrate its recent acquisitions and enhance operational excellence to drive accelerated growth in the upcoming fiscal year.
