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PowerFleet GAAP EPS of $0.10 beats by $0.16, revenue of $32.8M misses by $0.8M

May 09, 2023 7:22 AM ETPowerFleet, Inc. (PWFL) StockBy: Meghavi Singh, SA News Editor
  • PowerFleet press release (NASDAQ:PWFL): Q1 GAAP EPS of $0.10 beats by $0.16.
  • Revenue of $32.8M (-1.1% Y/Y) misses by $0.8M.
  • Adjusted EBITDA, a non-GAAP metric, improved significantly to $1.4 million, benefiting from a $2.2 million expansion in gross margin. 
  • Powerfleet had $25.1 million in cash and cash equivalents and a working capital position of $41.8 million at quarter-end, benefiting from $8.7 million in net proceeds from the acquisition of Movingdots.

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