PowerFleet Inc (PWFL.TA) Q4 2023 Earnings Report

PowerFleet reported Q4 2023 revenue of $34.652 million, up 4.64% year-over-year and 1.34% quarter-over-quarter, supported by a gross margin of approximately 50%. Despite top-line growth, the company produced an operating loss of $4.276 million and a net loss of $3.793 million, with an EPS of -$0.11. EBITDA was negative at -$1.73 million, reflecting high selling, general and administrative (SG&A) expense relative to gross profit. The company generated positive operating cash flow of $4.629 million and delivered free cash flow of $2.889 million after roughly $1.74 million in capital expenditures. The balance sheet remains healthy, with cash and equivalents around $19.0 million and modest indebtedness, contributing to a current ratio of 1.40 and a debt-to-capitalization of ~16.6%. Management commentary is not available in the provided data, so the analysis leans on the visible metrics and industry dynamics in IoT asset management. The results suggest a business transitioning toward higher software and services content, while profitability improvements will hinge on SG&A efficiency, product mix, and accelerating software revenue.