24/7 Market News Snapshot 10 February, 2025 – PowerFleet, Inc. Common Stock (NASDAQ:AIOT)

February 10, 2025

DENVER, Colo., 10 February, 2025 (247marketnews.com) – (NASDAQ:AIOT) are discussed in this article.
PowerFleet, Inc. has captured significant market attention following its remarkable stock performance and impressive financial results for the third quarter of fiscal year 2025. With shares opening at $6.31, the stock has risen sharply to $7.314, marking an extraordinary gain of 22.92%. This jump in stock value is fueled by a strong trading volume of 1.34 million shares, signaling robust investor interest and confidence in the company.

The financial results reflect a substantial year-over-year revenue increase of 45%, totaling $106.4 million, primarily driven by the successful acquisition of Fleet Complete. This acquisition has significantly enhanced PowerFleet’s service revenue, now constituting 77% of the total revenue at $81.7 million. The company’s adjusted EBITDA rose impressively by 77%, reaching $22.5 million, showcasing the positive impact of the Fleet Complete integration, organic growth strategies, and efficient cost management.

In response to its substantial growth, PowerFleet has raised its full-year revenue guidance for fiscal year 2025, now projecting revenues to exceed $362.5 million, a $10 million increase from previous estimates. Furthermore, adjusted EBITDA is expected to surpass $75 million, up $2.5 million from prior predictions.

CEO Steve Towe emphasized the importance of their strategic focus on scalability through mergers and acquisitions, which has transformed the operational structure of the company. PowerFleet’s exit from the quarter with more than 2.6 million recurring revenue subscribers highlights its expanding market reach and the effectiveness of its product offerings. The company is poised for further growth, aiming for a sustainable double-digit growth trajectory by fiscal year 2026 through enhanced solutions and strategic partnerships.

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