PowerFleet (AIOT) shares rose more than 10% in recent Monday trading after the company reported higher fiscal Q1 results and announced a partnership with MTN Business South Africa.

The company reported fiscal Q1 non-GAAP net income of $0.01 per share, up from breakeven a year earlier.

Three analysts polled by FactSet expected $0.03.

Revenue for the quarter ended June 30 was $104.1 million, up from $75.4 million a year earlier.

Analysts surveyed by FactSet expected $103.2 million.

The company said it now expects fiscal 2026 revenue of $430 million to $440 million, compared with its previous outlook of about $420 million to $440 million. Analysts surveyed by FactSet expect $435.8 million.

On the partnership, MTN will white label PowerFleet's Unity artificial intelligence of things platform to support adoption of real-time data-driven insights, intelligent on-road AI video safety, in-warehouse operations and connected asset efficiency and sustainability optimization, PowerFleet said.

Price: 4.28, Change: +0.41, Percent Change: +10.59