PowerFleet Reports Record Q2 2027 Revenue and Affirms Full-Year Guidance
PowerFleet (AIOT) delivered a strong second quarter for fiscal 2027, reporting record revenue of $115.7 million, which represents a 4% year-over-year increase. The company's performance was bolstered by a significant expansion in services revenue and the resolution of previous component challenges that allowed product revenue to jump 25% sequentially. A major driver of growth is the South African National Treasury contract, where mandates reached 94,000 units, exceeding annual targets ahead of schedule. To support this rollout, management has proposed a $34 million device financing facility with Rand Merchant Bank. Despite a net loss of $6.9 million due to increased investment and product mix shifts, the company affirmed its full-year guidance, projecting annual revenue between $468 million and $473 million. Management remains focused on high-growth segments including AI Video and IoT connected services.
Topics: Adjusted EBITDA Financial Guidance Product Revenue Revenue Growth South African Mandates
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