NASDAQ$AIOT
Powerfleet Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Reported 6% topline growth and 10% recurring revenue growth despite supply chain challenges.
PowerFleet reported a 6% increase in total revenue to $29.2 million and a 10% increase in recurring revenue for the third quarter of 2021. The company faced challenges due to cargo ship container backup and industry-wide electronic component shortages, but secured significant orders and launched new products.
- Total revenue increased by 6% to $29.2 million compared to the same period last year.
- Services revenue increased to $18.5 million, representing 63% of total revenue.
- Secured a follow-on order for 10,000 LV500 container telemetry devices.
- Launched the first site at a major government agency, with potential for an additional 80 sites representing a $20 million plus opportunity.
Headline financials
Revenue & EPS history
Powerfleet · Revenue · Quarterly
$29.2M
Revenue by segment
Powerfleet · $21M total across 1 segment · Q2 2023
- Services$21M+6.1%100.0%
Forward guidance
The company anticipates normalization of supply chain issues by early next year and aims to build on momentum with existing opportunities and new product launches.
Tailwinds
- Solid backlog in Logistics and Vehicle opportunities.
- Implementations underway at Ford and a major government agency.
- Potential normalization of supply chain issues by early next year.
- Plans to close deals and launch several new products.
- Robust opportunity pipeline.
Headwinds
- Cargo ship container backup at the Port of Los Angeles affected new forklift builds and deliveries.
- Unable to procure necessary parts due to industry-wide electronic component shortage.
- Decrease in product gross profit due to a one-time expense and supply chain issues.
- Higher costs associated with supply chain issues and electronic component shortages and inflation.
- Increased selling, general and administrative expenses.
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 Q3 2021
+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% |
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