PowerFleet narrows FY26 revenue view to $440M-$445M from $435M-$445M

Consensus is for FY26 revenue $439.78M. Narrows FY26 adjusted EBITDA growth to 45% year-over-year from 45%-55%, reflecting retained investments in operating expenses required to support the anticipated revenue ramp from the more than 100,000 subscriber South Africa public sector opportunity beginning in the second half of FY27. Adjusted net debt to adjusted EBITDA leverage ratio is expected to improve by approximately one full turn, from 3.4x as of March 31, 2025, to approximately 2.4x by March 31, 2026, compared to prior guidance of an improvement to approximately 2.25x.