PowerFleet, Inc.
PowerFleet, Inc. (AIOT) Financial Performance & Income Statement Overview
Review PowerFleet, Inc. (AIOT) income statement, balance sheet, and cash flow reports with annual and quarterly breakdowns.
PowerFleet, Inc. (AIOT) Income Statement & Financial Overview
View the income breakdown for PowerFleet, Inc. AIOT across both annual and quarterly reports.
| Metric | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|
| Revenue | $75.43M | $33.74M | $34.55M | $34.20M |
| Cost of Revenue | $35.78M | $17.54M | $17.17M | $17.08M |
| Gross Profit | $39.65M | $16.20M | $17.38M | $17.11M |
| Gross Profit Ratio | $0.53 | $0.48 | $0.50 | $0.50 |
| R&D Expenses | $3.10M | $2.02M | $2.01M | $2.38M |
| SG&A Expenses | $54.78M | $21.83M | $19.24M | $17.63M |
| Operating Expenses | $57.88M | $23.85M | $21.25M | $20.01M |
| Total Costs & Expenses | $93.67M | $41.39M | $38.42M | $37.09M |
| Interest Income | $304000.00 | $259000.00 | $34000.00 | $23000.00 |
| Interest Expense | $2.69M | $709000.00 | $1.14M | $154000.00 |
| Depreciation & Amortization | $0.00 | $1.94M | $3.26M | $3.01M |
| EBITDA | -$18.23M | -$5.50M | $836000.00 | -$830000.00 |
| EBITDA Ratio | -$0.24 | -$0.16 | -$0.02 | $0.003 |
| Operating Income | -$18.23M | -$7.65M | -$3.87M | -$2.90M |
| Operating Income Ratio | -$0.24 | -$0.23 | -$0.11 | -$0.08 |
| Other Income/Expenses (Net) | -$3.01M | -$505000.00 | $406000.00 | -$155000.00 |
| Income Before Tax | -$21.25M | -$8.15M | -$3.56M | -$3.41M |
| Income Before Tax Ratio | -$0.28 | -$0.24 | -$0.10 | -$0.10 |
| Income Tax Expense | -$1.05M | $352000.00 | -$92000.00 | $262000.00 |
| Net Income | -$22.34M | -$19.64M | -$3.50M | -$3.67M |
| Net Income Ratio | -$0.30 | -$0.58 | -$0.10 | -$0.11 |
| EPS | -$0.21 | -$0.18 | -$0.09 | -$0.10 |
| Diluted EPS | -$0.21 | -$0.18 | -$0.09 | -$0.10 |
| Weighted Avg Shares Outstanding | $107.14M | $107.44M | $37.23M | $35.65M |
| Weighted Avg Shares Outstanding (Diluted) | $107.14M | $107.44M | $37.23M | $35.65M |
Over the last four quarters, PowerFleet, Inc. achieved steady financial progress, growing revenue from $34.20M in Q3 2023 to $75.43M in Q2 2024. Gross profit stayed firm with margins at 53% in Q2 2024 versus 50% in Q3 2023. Operating income totaled -$18.23M in Q2 2024, maintaining a -24% margin over recent quarters. Despite shifts in R&D and SG&A costs, EBITDA stayed strong at -$18.23M. Net income dropped to -$22.34M, with EPS at -$0.21. Disciplined expense strategies and efficient operations ensured sustained profitability and long-term financial stability.
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