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Powerfleet vs Rekor Systems: revenue, profit, margins and growth compared

Powerfleet brought in $443.8M of revenue in fiscal 2026, Rekor Systems $48.5M in fiscal 2025. Revenue changed by +22.4% at Powerfleet and +5.3% at Rekor Systems on the year before, so Powerfleet grew faster. Powerfleet kept -4.6% of its revenue as net profit, Rekor Systems -64.9%. Free cash flow was $8.8M at Powerfleet and -$22.9M at Rekor Systems.

Side by side, latest fiscal year

AIOTREKR
Fiscal year endedFY2026 (March 31, 2026)FY2025 (December 31, 2025)
Revenue$443.8M$48.5M
Revenue growth+22.4%+5.3%
Net income-$20.6M-$31.5M
Net margin-4.6%-64.9%
Free cash flow$8.8M-$22.9M
Free cash flow margin2.0%-47.3%
Earnings per share (diluted)-$0.15-$0.26
Cash$36.5M$16.6M
Debt$236.5M$15M
Price to earningsn/an/a
Market value$375.8M$55.6M
Dividend yieldn/an/a
Rank by revenue in sector#29 of 51 · Telecommunications#44 of 51 · Telecommunications

Over the years

Revenue
AIOT FY2019: $53.1MAIOT FY2019: $81.9MAIOT FY2020: $113.6MAIOT FY2021: $126MAIOT FY2022: $135.9MAIOT FY2023: $133.7MAIOT FY2025: $362.5MAIOT FY2026: $443.8MREKR FY2018: $20.1MREKR FY2019: $19.3MREKR FY2020: $9.2MREKR FY2021: $11.6MREKR FY2022: $19.9MREKR FY2023: $34.9MREKR FY2024: $46MREKR FY2025: $48.5MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT $443.8MREKR $48.5M
Net income
AIOT FY2019: -$5.8MAIOT FY2019: -$11MAIOT FY2020: -$9MAIOT FY2021: -$12.8MAIOT FY2022: -$6.8MAIOT FY2023: -$5.7MAIOT FY2025: -$51MAIOT FY2026: -$20.6MREKR FY2018: -$5.7MREKR FY2019: -$15.9MREKR FY2020: -$14.2MREKR FY2021: -$26.8MREKR FY2022: -$83.1MREKR FY2023: -$45.7MREKR FY2024: -$61.4MREKR FY2025: -$31.5MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT -$20.6MREKR -$31.5M
Net margin
AIOT FY2019: -11.0%AIOT FY2019: -13.4%AIOT FY2020: -7.9%AIOT FY2021: -10.1%AIOT FY2022: -5.0%AIOT FY2023: -4.2%AIOT FY2025: -14.1%AIOT FY2026: -4.6%REKR FY2018: -28.4%REKR FY2019: -82.2%REKR FY2020: -153.6%REKR FY2021: -231.4%REKR FY2022: -417.2%REKR FY2023: -130.8%REKR FY2024: -133.4%REKR FY2025: -64.9%FY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT -4.6%REKR -64.9%
Revenue growth
AIOT FY2019: +54.4%AIOT FY2020: +38.7%AIOT FY2021: +10.9%AIOT FY2022: +7.9%AIOT FY2023: -1.6%AIOT FY2026: +22.4%REKR FY2019: -3.7%REKR FY2020: -52.2%REKR FY2021: +25.4%REKR FY2022: +72.1%REKR FY2023: +75.4%REKR FY2024: +31.8%REKR FY2025: +5.3%FY19FY20FY21FY22FY23FY24FY25FY26
AIOT +22.4%REKR +5.3%
Free cash flow
AIOT FY2019: -$2MAIOT FY2019: -$8.3MAIOT FY2020: $5.7MAIOT FY2021: -$7.8MAIOT FY2022: -$2.8MAIOT FY2023: $933KAIOT FY2025: -$23.4MAIOT FY2026: $8.8MREKR FY2018: -$3.1MREKR FY2019: -$22.1MREKR FY2020: -$16.1MREKR FY2021: -$22.4MREKR FY2022: -$42.6MREKR FY2023: -$34MREKR FY2024: -$34.2MREKR FY2025: -$22.9MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT $8.8MREKR -$22.9M

Fiscal years as each company reports them; the two may end in different months.

Questions about Powerfleet and Rekor Systems

Which is bigger by revenue, Powerfleet or Rekor Systems?

Powerfleet is bigger by revenue: $443.8M in fiscal 2026, against $48.5M for Rekor Systems in fiscal 2025.

Which keeps more of its revenue as profit, Powerfleet or Rekor Systems?

Powerfleet had a net margin of -4.6% in fiscal 2026; Rekor Systems had -64.9% in fiscal 2025.

Which grew revenue faster, Powerfleet or Rekor Systems?

In their latest fiscal years revenue changed by +22.4% at Powerfleet and +5.3% at Rekor Systems.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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