Powerfleet (PWR) 1H26 – Results Snapshot

Diluted HEPS improved from -23cps to -11cps (+52.2% y-y).
Revenue improved by 41.6% y-y to $216m, supported by 55.0% y-y growth in Services revenue.
GPM increased from 53.1% to 55.2%.
OPM increased from -11.6% to +1.0%.
Expenses increased by 18.5% y-y to $117m, with expense-to-sales decreasing from 64.7% to 54.2%.
No dividend.
Net cash improved by 7.5% y-y to $28m with cash from operating activities increasing from -$11m to +$10m.
Gross debt increased by 36.4% y-y to $200m.