EX-99.1 2 ex99-1.htm EX-99.1 Exhibit 99.1 Powerfleet Reports Results for First Quarter Fiscal 2027 Services revenue increased 9.1% to $94.3 million, representing 85% of total revenue of $110.8 million. Cash flow from operating activities increased 79% to $8.4 million. More than $27 million ARR for near term activation with the South African National Treasury contract. New President & Chief Financial Officer and Chief AI Officer, enhancing leadership team capability and experience for next phase of the business. WOODCLIFF LAKE, N.J., August 10, 2026 /PRNewswire/ - Powerfleet, Inc. (“Powerfleet” or the “Company”) (Nasdaq: AIOT), a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry, today reported its financial results for the first quarter ended June 30, 2026. “Our results demonstrate continued momentum across growth, profitability, and cash generation. High-value services revenue increased 9.1%, representing 85% of total revenue. Gross margin increased to 55.2%, operating cash flow nearly doubled to $8.4 million, and free cash flow improved by $6.6 million year-over-year,” said Powerfleet CEO …
Open exhibit ↗Current Report · Items 2.02, 7.01, 9.01 · 8-K
PowerFleet, Inc.
AIOTNASDAQEQUITYCurrent
Results of Operations and Financial Condition · Regulation FD Disclosure
Item 2.02. Results of Operations and Financial Condition. On August 10, 2026, Powerfleet, Inc. (the “Company”) issued a press release regarding financial results for the fiscal quarter ended June 30, 2026. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Disclosure sections
Item 2.02Item 2.02 - Results of Operations
Item
2.02. Results of Operations and Financial Condition.
On
August 10, 2026, Powerfleet, Inc. (the “Company”) issued a press release regarding financial results for the fiscal quarter
ended June 30, 2026. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item
7.01. Regulation FD Disclosure.
As
previously announced, the Company will hold a conference call on August 10, 2026 at 8:30 a.m. Eastern time (5:30 a.m. Pacific time) to
discuss the financial results for the fiscal quarter ended June 30, 2026 and provide a business update. The slide presentation that will
accompany the conference call is being furnished as Exhibit 99.2 to this Current Report on Form 8-K.
The
information in this report is being furnished pursuant to Items 2.02 and 7.01 of Form 8-K. In accordance with General Instruction B.2.
of Form 8-K, the information in this report, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section
18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, as amended, except as may be expressly set forth by specific
reference in such a filing.
Cautionary
Note Regarding Forward-Looking Statements
This
report, including Exhibits 99.1 and 99.2, contains forward-looking statements within the meaning of federal securities laws. The Company’s
actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking
statements as predictions of future events. Forward-looking statements may be identified by words such as “expect,” “estimate,”
“project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,”
“may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,”
“continue,” and similar expressions. These forward-looking statements include, without limitation, the Company’s expectations
with respect to its beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions and future performance,
as well as the Company’s financial outlook and guidance for fiscal 2027 and the anticipated financial impacts of recent business
combinations and acquisitions. Forward-looking statements involve significant known and unknown risks, uncertainties and other factors,
which may cause their actual results, performance or achievements to be materially different from the future results, performance or
achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements
that could be forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict.
The risks and uncertainties referred to above include, but are not limited to, risks related to: (i) the possibility that the Company
may not fully realize the anticipated benefits of its acquisitions and ongoing business transformation initiatives; (ii) significant
losses, accumulated deficits and an inability to achieve or sustain profitability; (iii) future global economic, political and business
conditions, including inflation, interest rate increases, foreign exchange instability, geopolitical conflicts, sanctions, export controls
and the potential imposition of tariffs; (iv) the commercial, financial, reputational and regulatory risks to the Company’s business
associated with operating across multiple geographies, including exposure to foreign exchange fluctuations and economic instability in
certain emerging markets; (v) disruptions in the Company’s global supply chain, performance issues or failures by subcontractors,
and reliance on a limited number of suppliers for critical components and services; (vi) the loss of any of the Company’s key customers,
reductions in customer demand or purchasing levels, and reliance on third-party channel partner relationships, including telecommunication
companies and regional distributors; (vii) changes in technology, products and customer expectations, which may be more rapid, costly
or difficult to address, or less effective, than anticipated; (viii) risks associated with the deployment and use of artificial intelligence
and machine learning technologies, including operational, legal, regulatory and reputational risks arising from their development, use
or outputs; (ix) potential breaches, disruptions or failures of the Company’s information technology systems, including risks that
could impair operations, customer access to services, or vendor and customer relationships; (x) our inability to adequately protect the
Company’s intellectual property rights or defend against third-party intellectual property claims; (xi) the Company’s ability
to obtain additional capital to fund its operations; and (xii) such other factors as are set forth in the periodic reports filed by the
Company with the Securities and Exchange Commission (“SEC”), including but not limited to those described under the heading
“Risk Factors” in its annual reports on Form 10-K, quarterly reports on Form 10-Q and any other filings made with the SEC
from time to time, which are available via the SEC’s website at http://www.sec.gov. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated
by these forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
The
forward-looking statements included in this report are made only as of the date of this report, and except as otherwise required by applicable
securities law, the Company assumes no obligation, nor does the Company intend to publicly update or revise any forward-looking statements
to reflect subsequent events or circumstances.
Filed exhibits (2)
EX-99.2
Open exhibit ↗