Powerfleet delivers double-digit fourth quarter revenue expansion

• Powerfleet reported an 11% increase in fourth quarter revenue to reach $114.5 million, alongside full-year fiscal 2026 revenue growth of 22% to $443.8 million.
• The company reduced its full-year net loss to $20.6 million while generating $30.5 million in operating cash flow.
• Strategic expansion drives future goals, marked by a new five-year contract in South Africa and fiscal 2027 revenue guidance of up to $490 million.

Powerfleet (NASDAQ:AIOT) executed an agreement for a five-year contract in South Africa with an anticipated total value of $100–$120 million as it reported an 11% increase in fourth-quarter revenue to $114.5 million.

The quarterly revenue performance was driven by 14% growth in services revenue alongside a 56.5% gross margin, which helped lift adjusted EBITDA by 42% to $26.4 million.

For the full fiscal year 2026, the business increased its total revenue by 22% to $443.8 million, while its annual services revenue grew by 30% to $359.8 million and adjusted EBITDA rose 44% to $97.0 million.

Following the announcement, Powerfleet's share price was up at $4.26.

The financial results showed an improvement in the company's net loss to $20.6 million, while total operating cash flow reached $30.5 million for the year.

The company stated that its initial fiscal year 2027 financial guidance targets total revenue of $485–$490 million, adjusted EBITDA of $122–$125 million, net income of $4–$8 million, and free cash flow of $30–$35 million.