Powerfleet Inc. reported a substantial growth in its financial performance for fiscal year 2025, with total revenue increasing by 26% to $362.5 million. Approximately 75% of this revenue was derived from high-margin, recurring SaaS services, marking a significant shift towards a subscription-first business model. The company's annual adjusted EBITDA rose by 65% year-over-year to $71 million, with the adjusted EBITDA margin expanding by 500 basis points to 20%. In the fourth quarter alone, total revenue surged by 42% year-over-year, reaching $103.6 million. Service revenue saw a significant increase of 49%, amounting to $81.8 million. Additionally, the adjusted EBITDA for the fourth quarter grew by 84% to $20.4 million, while the total adjusted gross margin exceeded 60%, compared to 53% in the previous year. Powerfleet's strategic transformation was highlighted by an aggressive M&A strategy, leading to $16 million in annualized cost synergies during FY25, with $11 million contributing to the adjusted EBITDA performance for the year. The company's operational scale and reach were further enhanced, setting a foundation for scalable, high-margin growth in the future.