Powerfleet, Inc. (AIOT) reported fourth-quarter earnings for fiscal 2026, highlighting a shift towards margin expansion and cash generation in fiscal 2027. Revenue increased 11% year-over-year to $114.5 million, exceeding the Zacks Consensus Estimate of $112.9 million. Adjusted EBITDA rose 42% to $26.4 million, with an adjusted EPS of $0.04 compared to expectations of $0.00.
Looking ahead, Powerfleet anticipates fiscal 2027 revenue between $485 million and $490 million and adjusted EBITDA between $122 million and $125 million, primarily driven by the South African National Treasury contract valued at $100 million to $120 million over five years. The deployment of 60,000 assets is set to ramp up over the next 18 months.
Additionally, management noted that services revenue constituted over 81% of total revenue for the quarter, showcasing a strong recurring revenue model. With a notable growth in AI Video and onsite offerings, the company expects continued expansion and execution throughout 2027.
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