PowerFleet Inc reported Q2 2024 revenue of $75.43 million, up meaningfully versus prior quarters and year-ago periods, reflecting a sharp sequential expansion that aligns with the company’s IoT asset-management growth initiatives. However, the quarter also delivered a meaningful negative operating result and net loss, with EBITDA of -$18.235 million and net income of -$22.337 million, underscoring a still-elevated cost base relative to revenue during the period. The gross margin stood at 52.6%, indicating a solid underlying product gross profitability, but the company’s SG&A and R&D investments (SG&A of $54.782 million and R&D of $3.101 million) overwhelmed gains from gross profit, driving negative margins at the operating level. Cash-flow indicators point to ongoing cash burn: operating cash flow per share of -$0.217 and free cash flow per share of -$0.441, contributing to a negative free-cash-flow profile despite a modest liquidity position (current ratio ~1.23, cash ratio ~0.28). Management commentary is not captured in the provided transcript dataset, limiting the inclusion of verbatim guidance; as such, the forward-looking assessment relies on internal metrics and industry context. Going forward, investors should monitor the pace of SG&A optimization, the sustainability of revenue growth, the trajectory toward cash-flow breakeven, and any explicit guidance updates from PowerFleet’s leadership.