PowerFleet Reports Q2 Revenue Beat Amid GAAP EPS Miss
PowerFleet (AIOT) reported second-quarter financial results characterized by a slight revenue beat and an earnings miss. The company generated $115.7 million in revenue, representing a 3.6% increase year-over-year and exceeding analyst expectations by $0.78 million. However, the company's GAAP earnings per share (EPS) of -$0.05 missed consensus estimates by $0.03. The net loss attributable to common stockholders widened to $6.9 million from $4.3 million in the prior year period, though Adjusted EBITDA remained relatively stable at $24.9 million compared to $24.8 million previously.
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