NASDAQ$AIOT
Powerfleet Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Powerfleet reported first quarter 2023 financial results with total GAAP services revenue growing, gross profit increasing, and liquidity improving due to the acquisition of Movingdots.
Powerfleet's first quarter 2023 saw a focus on profitable growth and SaaS recurring revenue expansion, with total revenue at $32.8 million. Services revenue increased to $20.4 million, representing 62% of total revenue. Gross profit margin expanded to 51%. Net income attributable to common stockholders was $3.5 million, or $0.10 per basic share.
- Total revenue was $32.8 million, compared to $33.2 million in the same year-ago period.
- Services revenues totaled $20.4 million, up $1.7 million year-over-year, accounting for 62% of total revenue.
- Gross profit margin expanded to 51% in Q1 2023 from 43% in the prior year.
- Net income attributable to common stockholders totaled $3.5 million, or $0.10 per basic share.
Headline financials
Revenue & EPS history
Powerfleet · Revenue · Quarterly
$32.8M
Revenue by segment
Powerfleet · $20.4M total across 1 segment · Q1 2023
- Services$20.4M—100.0%
Forward guidance
Powerfleet expects revenue growth and EBITDA expansion in Q2 from its core business, with an even stronger performance in the second half of 2023. The company remains on track executing its transformation plan to deliver its strategic foundational pillars - sustainable top-line growth, increased profitability, and cash flow.
Tailwinds
- Expect revenue growth in Q2 from core business.
- Expect EBITDA expansion in Q2 from core business.
- Expect stronger performance in the second half of 2023.
- Remain on track executing transformation plan.
- Delivering strategic foundational pillars.
Headwinds
- Incremental transitional investments in Opex are expected.
- Short-term fluctuation in cost base is expected.
- Challenging macroeconomic pressures.
- Highly significant FX headwinds.
- Moderates overall total revenue growth in the short term.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2023
+3.2%
Avg return
Earnings day
+3.5%
Avg return
5 days after
+1.9%
Avg return
30 days after
57%
16 / 28 earnings
Positive
+42.7%
Q3 2024
Best reaction
-29.0%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +0.5% | +9.6% | — | |
| Q4 2026 | +0.5% | +9.6% | — | |
| Q3 2026 | -1.2% | -19.6% | -32.6% | |
| Q2 2026 | +4.9% | +0.6% | +9.2% | |
| Q1 2026 | +13.4% | +18.1% | +29.2% | |
| Q4 2024 | +11.9% | +2.0% | -1.1% | |
| Q3 2025 | +31.1% | +36.1% | -1.2% | |
| Q3 2024 | +42.7% | +36.1% | -1.2% | |
| Q2 2024 | +13.5% | +8.4% | +23.7% | |
| Q1 2024 | -0.2% | +0.6% | +1.4% | |
| Q4 2023 | -0.3% | -1.9% | +16.3% | |
| Q3 2023 | +4.0% | +13.6% | +16.1% | |
| Q2 2023 | -17.1% | -20.5% | -6.8% | |
| Q1 2023 | +11.1% | +3.6% | +19.7% | |
| Q4 2022 | -0.7% | +5.4% | +4.1% | |
| Q3 2022 | -9.7% | -2.9% | -13.4% | |
| Q2 2022 | +15.6% | +32.0% | +12.9% | |
| Q1 2022 | -17.3% | -19.7% | -19.0% | |
| Q4 2021 | +0.3% | -2.3% | -2.3% | |
| Q3 2021 | -4.9% | -6.1% | -16.0% | |
| Q2 2021 | +4.6% | +6.5% | +4.1% | |
| Q1 2021 | -6.1% | -11.1% | -3.4% | |
| Q4 2020 | -2.2% | +3.0% | +11.1% | |
| Q3 2020 | +22.6% | +15.6% | +13.3% | |
| Q2 2020 | +1.3% | +12.2% | -10.8% | |
| Q1 2020 | -3.8% | +11.3% | +16.4% | |
| Q4 2019 | -29.0% | -44.5% | -21.8% | |
| Q3 2019 | +3.9% | +2.9% | +0.9% |
Discussion
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