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- **12% Organic Growth Milestone**: Services ARR exceeded year-end target, up 12% YoY.
- **70% EBITDA Expansion**: Driven by 68% gross margin and 25% G&A efficiency.
- **New Leadership Impact**: CRO Jeff Lautenbach leads 26% new logo growth, securing major enterprise deals.
- **Frost & Sullivan Recognition**: Unity platform awarded for innovation in safety & compliance.
- **2027 Outlook**: Targeting double-digit growth, with 23% AI video pipeline expansion.

**【CEO Opening Remarks】**
- Q2 marked a pivotal transition post-acquisitions, with ARR growing 12% organically (vs. year-end target) and 70% EBITDA expansion.
- Introduced Chief Revenue Officer Jeff Lautenbach to accelerate growth, leveraging SaaS model efficiency.
- Highlighted double-digit North American revenue growth and new logo wins (+26%), including major enterprise deals.
- Received Frost & Sullivan's 2025 North America Product Leadership Award for Unity platform innovation.

**【CFO Financial Commentary】**
- Total revenue: $111.7M (+45% YoY), Services revenue: 80% of total (vs. 74% last year).
- Adjusted EBITDA: $24.8M (+70% YoY), driven by 68% gross margin (vs. 64% prior).
- G&A expenses: 25% of revenue (-3pts YoY), with plans to reduce by 1pt/QTR in H2.
- Debt: $243M (net debt-to-EBITDA: 2.9x), targeting $220M by year-end.

**【Q&A Highlights】**
- **Organic Growth Momentum**: Q4 2026 guidance for 10% organic SaaS growth, with 2027 outlook for double-digit expansion.
- **Cross-Sell Success**: 23% sequential increase in AI video pipeline, driven by upselling to existing customers.
- **Macro Environment**: Cautious spending trends offset by strong demand for efficiency/safety solutions.
- **Fleet Complete Transition**: $1.3M Q2 IVD recoveries, with no future revenue recognition impact.
- **Currency Strategy**: $30M shekel-denominated debt hedging FX risk in Israel/South Africa.


PowerFleet, Inc. (AIOT) Q2 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

AIOT

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