Powerfleet revenue rallies 4% to $115.7 million
By Liezl GambeKey points
- Powerfleet reported fiscal second-quarter 2027 revenue of US$115.7 million, up 4% year-over-year, driven by 7% growth in services revenue.
- Operating profit declined to US$1.355 million from US$4.244 million, while net loss widened to US$6.9 million and adjusted EBITDA remained nearly unchanged at US$24.9 million.
- Powerfleet reaffirmed fiscal 2027 revenue guidance of US$468 million–US$473 million and adjusted EBITDA guidance of US$111 million–US$114 million, alongside a proposed device financing facility with Rand Merchant Bank.
Powerfleet (NASDAQ:AIOT) reported fiscal second-quarter 2027 revenue of US$115.7 million, up 4% year-over-year from US$111.7 million for the quarter ended September 30, 2026.
Services revenue increased 7% to US$95.2 million, while product revenue declined 8% to US$20.5 million, and gross margin fell to 53% from 56%.
Operating profit declined to US$1.355 million from US$4.244 million, while net loss attributable to common stockholders widened to US$6.9 million from US$4.3 million and adjusted EBITDA edged up to US$24.9 million from US$24.8 million.
Looking ahead, the company maintained its fiscal 2027 revenue and adjusted EBITDA guidance at US$468 million–US$473 million and US$111 million–US$114 million, respectively.
Powerfleet reported US$291.4 million in total debt and US$261.6 million in net debt at September 30, while cash and cash equivalents, including restricted cash, totalled US$29.8 million.
The company is expanding its artificial intelligence of things platform through On-Site, AI Video and IoT services, while its proposed Rand Merchant Bank financing facility is intended to support device deployment under its South African National Treasury contract.
