PowerFleet

Powerfleet Announces Change of Fiscal Year End

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목요일, 5월 9, 2024
Adjustment, Calendar, PowerFleet

WOODCLIFF LAKE, N.J., May 9, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today announced that its board of directors has determined to change its fiscal year end to March 31 from December 31, effective immediately. The primary purpose of the change is to align the company's reporting calendar with the April 2, 2024 close of its business combination with MiX Telematics and MiX Telematics's historical March 31 fiscal year end.

Key Points: 
  • Files 10-K for the Year Ended December 31, 2023
    Reiterates Revenue and Adjusted EBITDA Guidance for Twelve Months Ended March 31, 2024
    WOODCLIFF LAKE, N.J., May 9, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today announced that its board of directors has determined to change its fiscal year end to March 31 from December 31, effective immediately.
  • The primary purpose of the change is to align the company's reporting calendar with the April 2, 2024 close of its business combination with MiX Telematics and MiX Telematics's historical March 31 fiscal year end.
  • As part of the fiscal year change, Powerfleet expects to file a Transition Report on Form 10-KT for the three-month transition period beginning January 1, 2024, and ending March 31, 2024, on or before July 22, 2024.
  • The Company reiterates its guidance for revenue and adjusted EBITDA for Powerfleet and MiX Telematics on a combined basis exceeding $285 million and exceeding $40 million, respectively, for the twelve months ended March 31, 2024.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of PowerFleet, Inc. - PWFL

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목요일, 5월 2, 2024
News, Annual report, PowerFleet, Pomerantz, Bank statement, File, Calendar, Cryptocurrency

NEW YORK, May 02, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of PowerFleet, Inc. (“PowerFleet” or the “Company”) (NASDAQ: PWFL).

Key Points: 
  • NEW YORK, May 02, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of PowerFleet, Inc. (“PowerFleet” or the “Company”) (NASDAQ: PWFL).
  • The investigation concerns whether PowerFleet and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.
  • The Firm has recovered billions of dollars in damages awards on behalf of class members.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of PowerFleet, Inc. - PWFL

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수요일, 4월 24, 2024
Prior, News, Annual report, PowerFleet, Pomerantz, Bank statement, File, Calendar, Cryptocurrency

NEW YORK, April 24, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of PowerFleet, Inc. (“PowerFleet” or the “Company”) (NASDAQ: PWFL).

Key Points: 
  • NEW YORK, April 24, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of PowerFleet, Inc. (“PowerFleet” or the “Company”) (NASDAQ: PWFL).
  • The investigation concerns whether PowerFleet and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.
  • The Firm has recovered billions of dollars in damages awards on behalf of class members.

POWERFLEET ALERT: Bragar Eagel & Squire, P.C. is Investigating PowerFleet, Inc. on Behalf of PowerFleet Stockholders and Encourages Investors to Contact the Firm

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금요일, 4월 19, 2024
News, Annual report, PowerFleet, P.C, Bank statement, Telephone, File, Calendar, Cryptocurrency

NEW YORK, April 18, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against PowerFleet, Inc. (“PowerFleet” or the “Company”) (NASDAQ: PWFL) on behalf of PowerFleet stockholders.

Key Points: 
  • NEW YORK, April 18, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against PowerFleet, Inc. (“PowerFleet” or the “Company”) (NASDAQ: PWFL) on behalf of PowerFleet stockholders.
  • Our investigation concerns whether PowerFleet has violated the federal securities laws and/or engaged in other unlawful business practices.
  • PowerFleet also disclosed that it "expect[s] to report a material weakness" in internal control over financial reporting.
  • On this news, PowerFleet's stock price fell $0.31 per share, or 6.54%, to close at $4.43 per share on April 8, 2024.

The Video Telematics Market Report 2024: North America and Europe to Account for Close to 15 Million Video Telematics Systems in Use by 2028 - ResearchAndMarkets.com

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화요일, 4월 23, 2024
Vehicle Technology, Automotive, Technology, Audio, Video, Fleet Management, Hardware, SmartDrive, Motive (company), PowerFleet, MIX, Rand, Machine, Rand McNally, Video game

The report forecasts that the active installed base of video telematics systems in Europe and North America will grow at a CAGR of 18.6 percent from almost 6.3 million units at the end of 2023 to 14.8 million by 2028.

Key Points: 
  • The report forecasts that the active installed base of video telematics systems in Europe and North America will grow at a CAGR of 18.6 percent from almost 6.3 million units at the end of 2023 to 14.8 million by 2028.
  • The installed base of active video telematics systems in North America reached almost 4.9 million units in 2023.
  • In Europe, the installed base of active video telematics systems reached almost 1.4 million units in 2023.
  • The active installed base is forecasted to grow at a CAGR of 18 percent to reach 3.1 million video telematics systems in Europe by 2028.

Powerfleet to Host Virtual Analyst and Investor Fireside Chat on April 30, 2024

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화요일, 4월 16, 2024
Artificial intelligence of things, PowerFleet, Software as a service, Q&A, Management

The chat will take place on Tuesday, April 30, 2024, with presentations scheduled to begin at 9:30 a.m. Eastern time, followed by a Q&A session, with the event scheduled to end at approximately 11:00 a.m. Eastern time.

Key Points: 
  • The chat will take place on Tuesday, April 30, 2024, with presentations scheduled to begin at 9:30 a.m. Eastern time, followed by a Q&A session, with the event scheduled to end at approximately 11:00 a.m. Eastern time.
  • The Powerfleet leadership team will provide a progress update on the company's vision, value creation opportunities, EBITDA expansion program, revenue growth plan, Unity platform strategy, and path to Rule of 40 performance.
  • "We are incredibly excited to update our current and prospective shareholders with further insight on the combined business opportunity, building on our Investor Day in November 2023," said Steve Towe, Powerfleet's Chief Executive Officer.
  • "The executive team and I look forward to sharing key milestones and the associated value creation opportunities we plan to achieve within the next two years and beyond."

Powerfleet Selected as an Artificial Intelligence Excellence Awards Finalist

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화요일, 4월 9, 2024
Automation, Organization, Artificial intelligence of things, Data science, Internet of things, PowerFleet, AI, Life, Glass, OEM, Aggregation, Creativity, Safety, Machine learning, Fatigue, Artificial intelligence

WOODCLIFF LAKE, N.J., April 9, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today was announced as a finalist by the Business Intelligence Group for the Artificial Intelligence Excellence Awards program. This award recognizes organizations, products, and people who bring Artificial Intelligence (AI) to life and apply it to solve real-world problems.

Key Points: 
  • WOODCLIFF LAKE, N.J., April 9, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) today was announced as a finalist by the Business Intelligence Group for the Artificial Intelligence Excellence Awards program .
  • This award recognizes organizations, products, and people who bring Artificial Intelligence (AI) to life and apply it to solve real-world problems.
  • Powerfleet's fleet intelligence platform, Unity, ingests, harmonizes, and enriches data from any internet-of-things (IoT) device, original equipment manufacturer (OEM), or third-party business system.
  • "Artificial Intelligence is now playing a more important role in our lives than ever before," said Maria Jimenez, Chief Nominations Officer for Business Intelligence Group.

POWERFLEET ANNOUNCES RESTATEMENT OF ACCOUNTING TREATMENT OF LEGACY CONVERTIBLE PREFERRED STOCK INSTRUMENT, WHICH HAS NO ADVERSE IMPACT ON PREVIOUSLY REPORTED REVENUE, CASH FLOW OR ADJUSTED EBITDA

Retrieved on: 
금요일, 4월 5, 2024
Principle, PowerFleet, Security (finance), Bank statement, Annual report, Calendar, Cryptocurrency

This will result in the restatement of its financial statements for the fiscal years ended December 31, 2021 and 2022, and for each of the interim periods during the 2022 and 2023 fiscal years.

Key Points: 
  • This will result in the restatement of its financial statements for the fiscal years ended December 31, 2021 and 2022, and for each of the interim periods during the 2022 and 2023 fiscal years.
  • In connection with the restatement, the Company expects to voluntarily revise the financial statements for the same periods to make other unrelated and immaterial revisions.
  • This action follows a comprehensive review by the Company's management and audit committee.
  • Under Nasdaq rules, Powerfleet has 60 calendar days from the date of the written notice to submit to Nasdaq a plan to regain compliance with Nasdaq Listing Rule 5250(c)(1).

Powerfleet Reports Full Year 2023 and Fourth Quarter Financial Results

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화요일, 3월 12, 2024
Organization, Software as a service, Growth, Artificial intelligence of things, Data science, Ratio, PowerFleet, Acquisition, AI, MIX, Yoy, GAAP, Total, Bookkeeping

WOODCLIFF LAKE, N.J., March 12, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL), reported results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • Exited low-quality revenue segments, unprofitable contracts, and non-strategic lines of business, resulting in the shedding of approximately $8 million in annual revenue.
  • Fourth quarter 2023 gross profit included $1.1 million in non-recurring inventory adjustments.
  • See the section below titled "Non-GAAP Financial Measures" for more information about adjusted EBITDA and its reconciliation to GAAP net income (loss).
  • Powerfleet management will discuss these results and business outlook on a conference call today (Tuesday, March 12, 2024) at 8:30 a.m. Eastern time (5:30 a.m. Pacific time).

Powerfleet and MiX Telematics Receive Shareholder Approval for Proposed Business Combination

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수요일, 2월 28, 2024
MIX, PowerFleet, Growth, Artificial intelligence of things, Software as a service, Conference

WOODCLIFF LAKE, N.J., Feb. 28, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) and MiX Telematics Limited (NYSE: MIXT, JSE: MIX) today announced they have received shareholder approval on the proposals related to the previously announced business combination between the parties.

Key Points: 
  • WOODCLIFF LAKE, N.J., Feb. 28, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: PWFL) and MiX Telematics Limited (NYSE: MIXT, JSE: MIX) today announced they have received shareholder approval on the proposals related to the previously announced business combination between the parties.
  • The transaction is expected to close the first week of April 2024, subject to the satisfaction of remaining customary conditions.
  • Upon closing, the combined business will be branded as Powerfleet, with its primary listing on Nasdaq.
  • "We expect the business combination will establish Powerfleet as a top-tier, global AIoT SaaS company, paving the way for accelerated growth in recurring revenues, expanded profitability, and enhanced investor value creation opportunities."