In advance of its participation in the 22nd Annual Craig-Hallum Institutional Investor Conference (May 28) and William Blair’s 45th Annual Growth Stock Conference (June 4), Powerfleet, Inc. (Nasdaq: AIOT) today provided a business update, including preliminary financial results for fiscal year 2025 and an initial outlook for fiscal 2026.
Preliminary Fiscal Year 2025 Results
Powerfleet expects to deliver strong full-year performance in line with, or ahead of, previously communicated guidance:
- Total Revenue is expected to be approximately $362.5 million, an increase of +25% year-over-year, in line with previous guidance.
- Adjusted EBITDA is expected to be approximately $71 million, representing 65% growth year-over-year.
- During the year, the company realized $16 million in annual cost synergies, with $11 million of that benefit recognized within the fiscal year. Including the additional $5 million in fully realized run-rate synergies, proforma adjusted EBITDA is expected to be $76 million, exceeding prior base guidance of $75 million.
- Net adjusted debt is expected to be approximately $230 million, better than the previous guidance of $235 million.
“Fiscal 2025 was a milestone year,” said Steve Towe, Chief Executive Officer. “We delivered 65% adjusted EBITDA growth and 25% total revenue growth, inclusive of 7% organic growth, in our core business—clear proof of strong demand, disciplined execution, and the impact of our integration efforts. These results reflect the strength of our team and the solid progress we’re making on our strategic priorities.”
Fiscal Year 2026 Outlook
As the company enters FY26, Powerfleet continues to see strong underlying business momentum. Ongoing macroeconomic factors including tariff-related pressures and extended customer decision cycles make it difficult to provide precise FY26 guidance.
“While we recognize external headwinds, the fundamentals of our business are strong,” Towe continued. “We’re executing with discipline, delivering ahead of schedule on synergies, and scaling key growth drivers like Unity and our indirect channels. Demand remains solid, with growing cross-sell activity giving us strong conviction in our trajectory and long-term value creation.”
With the understanding that there are more external variables than usual outside the company’s control, based on the current view of tariff impacts, and assuming conditions remain broadly stable from here, the following reflects a well-founded tempered outlook for FY26 performance:
- Total Revenue growth in the range of 20% to 25%.
- The revenue base for calculating FY’26 growth rates is $352.5 million, reflecting a modest step down of approximately 3% to FY’25 revenue due to the previously disclosed U.S. GAAP accounting change related to the re-bundling of hardware sales for the legacy Fleet Complete business, effective April 2025, and the shutdown of legacy FSM revenue
- Adjusted EBITDA growth in the range of 45% to 55%.
Powerfleet remains confident in its long-term growth, driven by the rapid maturation of Unity’s device-agnostic platform and its expanding role in unifying customer operations. These capabilities provide clear competitive advantage and growing monetization potential across new and existing customers.
Once macroeconomic conditions and longer-term tariff impacts are fully understood, Powerfleet will look to issue formal FY26 guidance.
Management to Attend Upcoming Investor Conferences
Management is scheduled to meet with investors at the following conferences:
- The 22nd Annual Craig-Hallum Institutional Investor Conference on Wednesday, May 28th
- William Blair’s 45th Annual Growth Stock Conference on Wednesday, June 4th, at 4:00pmCT and meeting with investors that day. The link to the live webcast will be available here or by visiting Powerfleet’s website at https://ir.powerfleet.com/events-presentations/events.
Fourth Quarter and Fiscal Year 2025 Conference Call to be Held on Monday, June 16, 2025 at 8:30am ET
Powerfleet will hold a conference call on Monday, June 16, 2025, at 8:30 a.m. Eastern time (5:30 a.m. Pacific time) to discuss results for the fourth quarter fiscal 2025 ended March 31, 2025. Financial results will be issued in a press release prior to the call.
