On August 14, 2025, Towe Steven Mark, the director and CEO of Powerfleet, Inc. (NASDAQ:AIOT), purchased 23,157 shares of the company's common stock at $4.42 per share. This acquisition increased his total ownership to 2,457,923 shares. Powerfleet, a leader in the AIoT SaaS mobile asset industry, is known for its innovative solutions in asset management and tracking.
Powerfleet has reported a strong start to FY26, with a 6% sequential increase in quarterly services revenue, reaching $86.5 million. This growth contributed to a total revenue of $104.1 million, marking a 38% year-over-year increase. Services revenue now makes up 83% of the total revenue, highlighting the company's focus on expanding its service offerings.
The company's adjusted EBITDA rose by 58% to $21.6 million, with a margin expansion of 260 basis points to 21%. Gross profit increased by $16.8 million year-over-year, reaching $56.5 million. The EBITDA expansion program has already achieved $11 million in annual savings, meeting 60% of the full-year target of $18 million.
Powerfleet has raised its FY26 total revenue guidance to $430-$440 million, up from the previous $420-$440 million. The company has also announced a significant partnership with MTN Business South Africa, aiming to enhance AIoT adoption across enterprise operations. This collaboration leverages MTN's network infrastructure and Powerfleet's AIoT data capabilities.
Currently, AIOT's stock is priced at $4.44, reflecting a 1.33% decrease. The stock has fluctuated between $4.33 and $4.54 today, with a 52-week high of $8.71 and a low of $3.70. The company's market capitalization is approximately $592.49 million, with a trading volume of 1,850,957 shares on the NASDAQ.
