Shares of PowerFleet, Inc. (NASDAQ: AIOT) surged by nearly 20% in pre-market trading on Monday, following the company's impressive fiscal third-quarter 2025 financial results and an upward revision to its full-year guidance.
The leading provider of artificial intelligence (AI) and Internet of Things (IoT) solutions for mobile asset management reported a 44.5% year-over-year increase in revenue to $106.4 million for the quarter ended December 31, 2024. This robust top-line growth was fueled by the acquisition of Fleet Complete and strong organic performance, particularly in the company's safety-focused solutions and in-warehouse product sales.
Notably, PowerFleet's adjusted EBITDA soared 77% to $22.5 million, driven by the Fleet Complete acquisition, organic growth, and cost synergies. Based on its strong year-to-date performance, the company raised its full-year 2025 revenue guidance to over $362.5 million, up from $352.5 million previously, and its adjusted EBITDA guidance to exceed $75 million, up from $72.5 million.
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