PowerFleet, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 08:18 am EDT
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PowerFleet, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 32.05 million compared to USD 34.59 million a year ago. Net loss was USD 2.98 million compared to USD 0.118 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to USD 0.04 a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to USD 0.04 a year ago.
For the six months, revenue was USD 64.89 million compared to USD 67.76 million a year ago. Net income was USD 1.79 million compared to net loss of USD 3.05 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.15 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.15 a year ago.
PowerFleet, Inc. is a provider of internet of things (IoT) software-as-a-service (SaaS) solution, which provides valuable business intelligence for managing high-value enterprise assets. The Companyâs enterprise software applications have machine learning capabilities and are built to integrate with its customersâ management systems to provide a single, integrated view of asset and operator activity across multiple locations while providing real-time enterprise-wide benchmarks and peer-industry comparisons. Its cloud-based software applications provide a single, integrated view of asset activity across multiple locations, generating enterprise-wide benchmarks, peer-industry comparisons, and deeper insights into asset operations. Its services include hosting services, software as a service, maintenance services and customer support and consulting services for ease of use, adoption, and added value. Its offerings are sold under the global brands Powerfleet, Pointer, and Cellocator.