0001628280-25-051024
SEC filingPowerFleet's revenue grew 45% YoY to $111.7M in Q3 2025, but net loss widened to $4.3M; goodwill and debt stood at $401M and $275M respectively.
As of September 30, 2025, PowerFleet held $27.9M in cash and equivalents, down from $44.4M at March 31, 2025, reflecting cash used in investing and financing activities. Total assets grew to $936.9M, driven by increases in goodwill ($401.2M), intangible assets ($262.8M), and fixed assets ($63.3M). Liabilities increased modestly to $467.9M, with total debt of $275.1M (short-term bank debt of $37.5M, current maturities of $5.7M, and long-term debt of $231.9M). Shareholders' equity rose to $469.0M, supported by foreign currency translation gains ($23.5M) offsetting accumulated deficit increase.
No significant purchase commitments or contractual obligations were disclosed in the Notes. The Company has operating lease obligations totaling $15.5M in undiscounted payments, with a weighted-average remaining lease term of 4.26 years. A contingent liability related to a tax deficiency in Brazil ($5.5M) is considered remote. A patent litigation matter was settled in October 2025 with no material impact.
No share repurchases or common dividends occurred during the period. Preferred stock was fully redeemed in April 2024. Capital expenditures for the six months ended September 30, 2025 totaled $23.9M (11.1% of revenue), split between property and equipment ($12.5M) and capitalized software ($11.5M). Debt increased marginally by $1.3M from March 2025, primarily due to foreign exchange effects on Hapoalim and RMB facilities. The Company maintains compliance with financial covenants under its credit agreements.
PowerFleet operates as a single reportable segment: wireless AIoT asset management. Revenue for Q3 2025 was $111.7M, up 45% YoY, driven by the Fleet Complete acquisition. Geographic breakdown: North America $41.2M (37%), Africa $26.8M (24%), Israel $14.6M (13%), Europe and Middle East $13.0M (12%), Australia $10.7M (10%), and Other $5.3M (5%). Long-lived assets are concentrated in Africa ($34.2M), North America ($15.5M), and Europe ($5.6M).