Powerfleet Preliminary Q1 Revenue ~$75M; Forecasting FY25 Revenue Now To Exceed $300M Versus Prior Guidance Of ~$300M
Portfolio Pulse from Benzinga Newsdesk
Powerfleet anticipates Q1 2025 revenue of ~$75M, a 10% increase YoY, and forecasts FY25 revenue to exceed $300M. Preliminary pro forma adjusted EBITDA is projected to exceed $13.5M, a 40% increase YoY. The company expects a net loss of ~$23M for Q1 2025 due to one-time costs. Net debt stands at ~$114M. Full-year guidance for FY25 has been raised.
August 05, 2024 | 8:59 pm
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Powerfleet (AIOT) anticipates Q1 2025 revenue of ~$75M, a 10% YoY increase, and raises FY25 revenue forecast to exceed $300M. Adjusted EBITDA is projected to exceed $13.5M, a 40% increase YoY. The company expects a net loss of ~$23M for Q1 2025 due to one-time costs. Net debt stands at ~$114M.
The increase in revenue and adjusted EBITDA, along with the raised full-year guidance, are positive indicators for Powerfleet's financial health. Despite the net loss due to one-time costs, the overall outlook is optimistic, likely leading to a positive short-term impact on the stock price.
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