Powerfleet, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Powerfleet, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2025	FY2026
Revenue	41	53.1	81.9	114	126	136	134	363	444
Cost of revenue	20	27.3	43.6	54.6	66.2	70.9	66.7	168	197
Gross profit	20.9	25.8	38.4	59	59.8	65	67.1	195	246
Research and development	4.54	6.86	8.54	10.6	11.4	8.47	8.38	16.1	18.4
Selling, general and administrative	20.5	24.7	34.4	51.9	56.5	63.5	71.3	204	208
Selling and marketing	0.54	1	1.23	1.02	1.19	1.13	2.3	5	7.55
Operating expenses	25	31.5	48.1	62.5	67.9	72	79.6	220	227
Operating income	-4.09	-5.74	-9.76	-3.46	-8.17	-6.97	-12.6	-25.9	19.6
Interest expense	0.34	0.17	1.37	4.47	2.76	-0.99	1.6	20.3	27.5
Interest income	0.25	0.26	0.13	0.06	0.05	0.07	0.1	0.93	0.78
Other non-operating income	-0	-0.17	-0.05	-0.1	0.01	0.02	-0.03	-1.16	-4.09
Pre-tax income	-4.18	-5.81	-11.1	-7.97	-10.9	-5.88	-5.05	-46.5	-11.3
Income tax	0.31		-0.08	1.04	1.89	0.87	0.59	4.52	8.69
Net income to minority interests			-0.02	-0	-0.01	0	0.04	0.02	0.61
Net income	-3.87	-5.81	-11	-9.01	-12.8	-6.75	-5.68	-51	-20.6
EBITDA	-2.96	-4.18	-6.41	4.97	0.38	1.29	-3.11	21.6	79.9
EPS, basic	-0.32	-0.42	-0.73	-0.57	-0.64	-0.49	-0.49	-0.43	-0.15
EPS, diluted	-0.32	-0.42	-0.73	-0.57	-0.64	-0.49	-0.49	-0.43	-0.15
Shares, basic (weighted)	12.2	14	16.6	24.1	0.03	35.6	35.6	120	134
Shares, diluted (weighted)	12.2	14	16.6	24.1	0.03	35.6	35.6	120	134

Balance sheet

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2025	FY2026
Cash and equivalents	5.1	10.2	16.4	18.1	26.5	17.7	19	44.4	36.5
Short-term investments		0.39
Receivables		9.25	27	24.1	32.1	32.6	32.4	78.6	93.8
Inventory		4.65	16.4	12.9	18.2	22.3	22.6	18.4	22.4
Other current assets		0.35	1.92	1.75	2.56	1.37	1.4	0.25	0.49
Total current assets		32.7	71.2	64.8	87.9	81.2	82	169	179
Property, plant and equipment		2.15	8.24	8.8	8.99	9.25	12.4	58	62.4
Lease right-of-use assets			7.02	9.7	9.79	7.82	6.2	12.3	15.9
Goodwill		7.32	89.1	83.3	83.5	83.5	83.5	383	412
Intangible assets		4.71	36.6	31.3	26.1	22.9	20.1	259	256
Long-term investments		4.13
Other non-current assets		1.43	2.53	3.12	4.7	6.32	6.92	21.2	21.6
Total assets		57.8	223	220	230	218	218	910	956
Accounts payable		6.64	15.4	9.88	17.7	14.7	19.2	41.6	46.4
Accrued liabilities				5.58	6.64	7.15	6.72	27.8	22.9
Deferred revenue		7.9	8.54	7.34	6.52	6.38	5.67	17.4	20.2
Short-term debt			2.69	5.3	6.11	4.6	11.1	4.84	6.28
Total current liabilities		16.9	43.4	35.9	44.3	44.5	58.6	151	158
Long-term debt			26.5	23.2	18.1	11.4		232	230
Lease liabilities			4.78	7.05	7.37	5.63	4.91	8.19	13.5
Other non-current liabilities			0.12	0.67	0.71	1.79	2.42	3.02	3.09
Total liabilities		26.3	91.5	88.3	85	77	80.2	463	474
Total debt			29.2	28.5	24.2	16	11.1	238	237
Paid-in capital		139	202	206	234	219	213	671	682
Retained earnings		-101	-112	-121	-134	-141	-146	-206	-226
Treasury stock		-5.74	-6.05	-6.86	-8.3	-8.51	-8.65	-11.5	-11.5
Other comprehensive income	-0.58	-0.44	0.27	0.4	0.39	-1.21	-0.62	-8.85	29.7
Shareholders' equity	33	31.5	84.2	79.2	92.1	68.9	57.5	447	475
Minority interests			-0.01	0.08	0.09	0.08	0.1	0.15	0.11
Total equity	33	31.5	84.2	74.4	83.4	69	57.6	447	476
Total liabilities and equity		57.8	223	220	230	218	218	910	956
Shares outstanding		14.8	24.2	25.3	35.9	36.2	37.2	133	134

Cash flow statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2025	FY2026
Net income	-3.87	-5.81	-11	-9.01	-12.8	-6.75	-5.64	-51	-19.9
Depreciation and amortization	1.13	1.56	3.35	8.43	8.55	8.26	9.45	47.5	60.3
Stock-based compensation	2.44	2.16	3.79	4.26	4.68	4.34	3.91	9.36	7.54
Deferred income tax				0.94	1.75	0.71	0	-1.77	-1.74
Change in receivables	1.6	-0.55	-1.3	2.17	-9.55	-1.37	-1.46	-14	-21.2
Change in inventory	0.09	-0.38	-3.28	3.05	-5.94	-4.47	-1.74	5.73	-4.46
Change in payables	-1.1	0.59	0.36	-2.39	8.14	-0.53	4.44	-12.2	5.23
Cash from operations	3.92	-1.7	-7.27	8.85	-5.39	1.25	4.4	-3.35	30.5
Capital expenditures	-0.39	-0.25	-1.04	-3.18	-2.4	-4.01	-3.46	-20	-21.6
Acquisitions	-7.37		-69			0	8.72	-137	0.06
Purchases of investments	-11.1	-3.24	-0.1			-0.1	-0.1	0	0
Sales and maturities of investments	1.11	10.1	4.64
Cash from investing	-17.7	6.6	-65.5	-3.3	-3.03	-6.33	1.53	-171	-39.7
Debt issued			30			0	0	125	0
Debt repaid			-2.01	-2.86	-5.57	-5.66	-4.41	-2.64	-5.6
Stock issued	1.28	0.72	46.3	4.04	26.9	0	0.04	1.9	0.04
Share buybacks		-0.65	-0.32			-0.21	-0.14	-2.84	0
Cash from financing	14.3	0.07	78.6	-3.95	16.2	-0.28	-3.71	116	0.15
Net change in cash	0.13	5.06	6.24	1.73	8.33	-8.77	1.34	-60.9	-7.97
Free cash flow	3.53	-1.95	-8.31	5.66	-7.79	-2.76	0.93	-23.4	8.84
Interest paid	0.13		0.81	2.3	1.47	1.31	1.66	15.3	24.5
Income taxes paid			0.61	0.05	0.06	0.06	0.18	4.28	7.25

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $2.80 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	55.7%	Gross profit / revenue.
Operating margin	4.9%	Operating income / revenue.
EBITDA margin	14.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-1.8%	Pre-tax income / revenue.
Net margin	-4.2%	Net income / revenue.
FCF margin	3.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	7.6%	Cash from operations / revenue.
Return on equity (ROE)	-3.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.9%	Net income / average total assets.
Return on invested capital (ROIC)	2.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	4.0%	Research and development expense / revenue.
SG&A / revenue	46.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	2.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.1%	Capital expenditures / revenue.
D&A / revenue	9.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	22.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	48.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	31.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	26.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	55.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	33.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	269.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	295.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	74.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	190.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	28.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	9.3%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	6.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	90.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	43.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	63.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	34.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	11.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	55.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	40.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.10x	Current assets / current liabilities.
Quick ratio	0.79x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.21x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.49x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	24.6%	Total debt / total assets.
Liabilities / assets	49.2%	Total liabilities / total assets.
Net debt	$203.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	3.23x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	0.79x	Operating income / interest expense.
Working capital	$15.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	70.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$192.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.47x	Revenue / average total assets.
Fixed asset turnover	7.06x	Revenue / average property, plant and equipment.
Inventory turnover	9.21x	Cost of revenue / average inventory.
Days inventory	40 days	365 x average inventory / cost of revenue.
Receivables turnover	4.93x	Revenue / average receivables.
Days sales outstanding	74 days	365 x average receivables / revenue.
Days payables	81 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	32 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	53.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.14	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$3.36	Revenue / diluted weighted shares.
FCF per share	$0.12	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.25	Cash from operations / diluted weighted shares.
Book value per share	$3.60	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$1.43	Tangible book value / shares outstanding.
Cash per share	$0.24	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$375.8M	Share price x shares outstanding.
Enterprise value	$579.5M	Market cap + total debt - cash - short-term investments.
P/S	0.83x	Market cap / revenue.
P/B	0.78x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	23.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	11.0x	Market cap / cash from operations, when positive.
EV/Sales	1.29x	Enterprise value / revenue.
EV/EBIT	26.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.19x	Enterprise value / EBITDA, when both are positive.
EV/FCF	36.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.2%	Free cash flow / market cap.
Earnings yield	-5.0%	Net income / market cap (the inverse of P/E).

What was Powerfleet, Inc.'s revenue in fiscal 2026?

Powerfleet, Inc. reported revenue of $443.8M for fiscal 2026, 22.4% higher than the year before.

Was Powerfleet, Inc. profitable in fiscal 2026?

No. It reported a net loss of $20.6M.

How much free cash flow did Powerfleet, Inc. generate in fiscal 2026?

Cash from operations of $30.5M minus capital expenditures of $21.6M left free cash flow of $8.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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