Revenue and SaaS Growth
PowerFleet achieved over $400 million in annualized revenue with more than 75% of this revenue being ongoing SaaS revenue. This indicates a strong shift to subscription-based models.
EBITDA Improvement
Adjusted EBITDA increased dramatically from $7 million to $71 million, showcasing significant operational improvements and cost synergies.
Subscriber Growth
The company scaled from 700,000 subscribers to 2.8 million, highlighting significant expansion in its customer base.
Successful Integration and Synergies
PowerFleet delivered $16 million in adjusted EBITDA synergies, achieved through organizational efficiency, systems consolidation, vendor optimization, and commercial simplification.
Expansion into New Markets
PowerFleet signed contracts with over 600 new midsized and large customers, diversifying its industry presence and expanding its reach.
Cross-Sell and Upsell Success
Cross-sell revenue increased by 96% year-over-year, demonstrating strong traction in expanding product offerings to existing customers.
Recognition in Innovation
PowerFleet was recognized as the #1 global leader in platform solutions and innovation by ABI Research, a notable industry accolade.