PowerFleet forecasts FY25 revenue to exceed $300M [Seeking Alpha]
PowerFleet, Inc. (AIOT)
Company Research
Source: Seeking Alpha
Stock up over 6% in extended trading. The company also forecast FY25 adjusted EBITDA to exceed $60 million, which includes an incremental $5 million in secured exit run-rate cost synergies, versus the prior guidance of approximately $60 million. PowerFleet anticipates reporting preliminary revenue for the first quarter of fiscal 2025 of about $75 million, representing an increase of 10% compared to the combined revenue of PowerFleet and MiX Telematics in the same period last year. The preliminary pro forma net loss attributable to common stockholders for the first quarter of fiscal 2025 is expected to be approximately $23 million. As of June 30, 2024, the company held net debt of approximately $114 million, after accounting for $6 million in unsettled one-time transaction costs. The company announced a delay of its earnings call for the first fiscal quarter, originally scheduled for August 8. On a preliminary and pro forma basis, assuming the MiX Telematics business combi
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News
- Powerfleet to Host Investor Day on November 20, 2024PR Newswire
- Powerfleet, Inc. (NASDAQ: AIOT) had its "outperform" rating re-affirmed by analysts at Barrington Research. They now have a $10.00 price target on the stock.MarketBeat
- Powerfleet Closes Strategic Acquisition of Fleet CompletePR Newswire
- Powerfleet and Fleet Complete to Host Fireside Chat on October 2, 2024PR Newswire
- Powerfleet, Inc. (NASDAQ: AIOT) had its "outperform" rating re-affirmed by analysts at Barrington Research. They now have a $10.00 price target on the stock.MarketBeat