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Powerfleet (AIOT) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Feb 10, 2025
Powerfleet (AIOT) reported revenue of $106M for the third quarter fiscal 2025 (Q3 FY25), +208% from a year earlier and +38% from the quarter before. Operating margin was -1.2%, net loss $14.3M (13.5% of revenue).
Powerfleet, Q3 FY25: revenue $106M (+208% year over year), operating margin -1.2%, net loss $14.3M, operating cash flow −$6.1M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $106M | +38% | +208% |
| Operating profit | −$1.2M | — | — |
| Net earnings | −$14.3M | — | — |
| Operating cash flow | −$6.1M | — | — |
What changed
Revenue was $106.4M in Q3 FY25, up 208% year over year and up 38% from the previous quarter. Services was the largest line at 77% of revenue. Services added $60.1M year over year (up 278%), 84% of the total change.
Gross margin was 55.2%, up 4.9 points from a year earlier. Operating costs exceeded revenue by $1.2M, an operating margin of -1.2%. Operating expenses grew 181% against revenue growth of 208%. The fastest-growing cost line was SG&A (+187%). The quarter ended with a net loss of $14.3M, wider than the previous quarter's $1.9M loss. Net interest and other expense of $9.6M was the main reason.
Operating cash flow was −$6.1M. Non-cash charges added back $13.6M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items used $6.5M. Capital expenditures of $6.2M exceeded it, leaving free cash flow of −$12.2M.
Questions
What was Powerfleet's revenue in the third quarter fiscal 2025?
Powerfleet (AIOT) reported revenue of $106M for the third quarter fiscal 2025 (Q3 FY25), +208% from a year earlier and +38% from the quarter before.
Was Powerfleet profitable in the third quarter fiscal 2025?
Operating loss was $1.2M (-1.2% of revenue) and net loss $14.3M.
Source: Powerfleet 10-Q on SEC EDGAR.