Shares of PowerFleet, Inc. (AIOT) plummeted 5.42% in pre-market trading on Tuesday, following the release of its unaudited financial results for fiscal year 2025 and an announcement of a delay in filing its Annual Report. The company reported a 26% increase in total revenue to $362.5 million, but posted a negative headline earnings per share (HEPS) of $-0.43, disappointing investors.

Adding to investor concerns, PowerFleet announced a delay in filing its Annual Report on Form 10-K for the fiscal year ended March 31, 2025. The company cited the need for additional time to review certain financial statement disclosures and assess internal controls. While PowerFleet expects to file the report within the 15-day extension period allowed under SEC rules, this delay has raised questions about the company's financial reporting processes.

The market's negative reaction reflects investor unease about PowerFleet's financial performance and reporting practices. Despite the significant revenue growth, the negative earnings per share suggests challenges in profitability. The delay in filing the Annual Report further compounds these concerns, as timely and accurate financial reporting is crucial for maintaining investor confidence. As PowerFleet works to address these issues, investors will be closely watching for the release of the complete Annual Report and any additional information about the company's financial health and future prospects.