PR Newswire·Nov 9, 2026, 7:00 AM ET

Powerfleet Reports Results for Second Quarter Fiscal 2027

Powerfleet reported record Q2 fiscal 2027 revenue of $115.7 million, representing 4% sequential growth.
Profit from operations increased to $1.4 million during the quarter.
Services revenue grew 7% year-over-year to $95.2 million, accounting for 82% of total revenue.
Net loss attributable to common stockholders widened to $6.9 million compared to $4.3 million in the prior year period.
Adjusted EBITDA rose slightly to $24.9 million from $24.8 million.
The company agreed to terms for a device financing facility with Rand Merchant Bank to fund the South African National Treasury contract.
Powerfleet reaffirmed its fiscal 2027 revenue guidance of $468 million to $473 million.
Fiscal 2027 adjusted EBITDA guidance remains between $111 million and $114 million.
The company targets a fiscal 2027 exit run-rate of $495 million in revenue with 27% EBITDA margins.
New AI-powered solutions Unity Foresight and Unity Asset Intelligence were launched to expand platform capabilities.
Total debt as of September 30, 2026, stood at $291.4 million, with net debt at $261.6 million.
Cash and cash equivalents including restricted cash totaled $29.8 million at the end of the quarter.
Product revenue decreased 8% to $20.5 million, while services revenue increased 7% to $95.2 million.
Operating expenses increased 4% to $60.5 million, driven by planned investments in selling, marketing, research, and development.