PowerFleet (AIOT) 10-Q 10 Feb 25 2025 Q3 Quarterly report Financial data

COVER

COVER - shares	9 Months Ended
	Dec. 31, 2024	Feb. 07, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	001-39080
Entity Registrant Name	POWERFLEET, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-4366463
Entity Address, Address Line One	123 Tice Boulevard
Entity Address, City or Town	Woodcliff Lake,
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07677
City Area Code	(201)
Local Phone Number	996-9000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	AIOT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		132,509,343
Amendment Flag	false
Entity Central Index Key	0001774170
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Current assets:
Cash and cash equivalents	$ 33,634	$ 24,354
Restricted cash	5,011	85,310
Accounts receivables, net of allowance for credit losses of $3,197 and $5,483 as of March 31, 2024 and December 31, 2024, respectively	82,167	30,333
Inventory, net	27,985	21,658
Deferred costs - current	6	42
Prepaid expenses and other current assets	25,455	8,091
Total current assets	174,258	169,788
Fixed assets, net	55,257	12,719
Goodwill	374,939	83,487
Intangible assets, net	263,396	19,652
Right-of-use asset	12,308	7,428
Severance payable fund	4,461	3,796
Deferred tax asset	5,766	2,781
Other assets	18,284	9,029
Total assets	908,669	308,680
Current liabilities:
Short-term bank debt and current maturities of long-term debt	34,596	1,951
Accounts payable and accrued expenses	86,481	34,008
Deferred revenue - current	17,912	5,842
Lease liability - current	4,763	1,789
Total current liabilities	143,752	43,590
Long-term debt - less current maturities	233,750	113,810
Deferred revenue - less current portion	3,949	4,892
Lease liability - less current portion	8,268	5,921
Accrued severance payable	4,906	4,597
Deferred tax liability	52,461	4,465
Other long-term liabilities	3,042	2,496
Total liabilities	450,128	179,771
Commitments and Contingencies (Note 22)
Convertible redeemable preferred stock: Series A - 100 shares authorized, $0.01 par value; 60 and 0 shares issued and outstanding at March 31, 2024 and December 31, 2024, respectively, at redemption value of $90,273 at March 31, 2024	0	90,273
STOCKHOLDERS’ EQUITY
Preferred stock; authorized 50,000 shares, $0.01 par value	0	0
Common stock; authorized 175,000 shares, $0.01 par value; 38,709 and 134,556 shares issued at March 31, 2024 and December 31, 2024, respectively; shares outstanding, 37,212 and 132,493 at March 31, 2024 and December 31, 2024, respectively	1,339	387
Additional paid-in capital	669,492	202,607
Accumulated deficit	(193,345)	(154,796)
Accumulated other comprehensive loss	(7,578)	(985)
Treasury stock; 1,497 and 2,063 common shares at cost at March 31, 2024 and December 31, 2024, respectively	(11,518)	(8,682)
Total Powerfleet, Inc. stockholders’ equity	458,390	38,531
Non-controlling interest	151	105
Total equity	458,541	38,636
Total liabilities, convertible redeemable preferred stock, and stockholders’ equity	$ 908,669	$ 308,680

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 5,483	$ 3,197
Temporary equity, shares authorized (in shares)	100	100
Temporary equity, par value (in dollars per share)	$ 0.01	$ 0.01
Temporary equity, shares issued (in shares)	0	60
Temporary equity, shares outstanding (in shares)	0	60
Temporary equity, redemption value	$ 0	$ 90,273
Preference shares, authorized (in shares)	50,000	50,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	175,000	175,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	134,556	38,709
Common stock, shares outstanding (in shares)	132,493	37,212
Treasury stock (in shares)	2,063	1,497

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Revenues:
Total revenues	$ 106,429	$ 34,550	$ 258,877	$ 100,884
Cost of revenues:
Total cost of revenues	47,646	17,171	119,103	50,382
Gross profit	58,783	17,379	139,774	50,502
Operating expenses:
Selling, general and administrative expenses	55,405	19,337	147,522	54,312
Research and development expenses	4,621	2,010	11,157	6,657
Total operating expenses	60,026	21,347	158,679	60,969
Loss from operations	(1,243)	(3,968)	(18,905)	(10,467)
Interest income	359	34	831	79
Interest expense	(7,942)	(1,138)	(14,675)	(1,466)
Bargain purchase - Movingdots	0	1,517	0	1,800
Other expense, net	(2,011)	(8)	(961)	(32)
Net loss before income taxes	(10,837)	(3,563)	(33,710)	(10,086)
Income tax benefit/(expense)	(3,513)	92	(4,821)	(197)
Net loss before non-controlling interest	(14,350)	(3,471)	(38,531)	(10,283)
Non-controlling interest	1	(32)	(17)	(38)
Net loss	(14,349)	(3,503)	(38,548)	(10,321)
Accretion of preferred stock	0	(1,878)	0	(5,484)
Preferred stock dividend	0	(1,129)	(25)	(3,385)
Net loss attributable to common stockholders	(14,349)	(6,510)	(38,573)	(19,190)
Net loss attributable to common stockholders	$ (14,349)	$ (6,510)	$ (38,573)	$ (19,190)
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (0.11)	$ (0.18)	$ (0.33)	$ (0.54)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (0.11)	$ (0.18)	$ (0.33)	$ (0.54)
Weighted average common shares outstanding - basic (in shares)	132,189	35,706	115,650	35,655
Weighted average common shares outstanding - diluted (in shares)	132,189	35,706	115,650	35,655
Products
Revenues:
Total revenues	$ 24,687	$ 12,916	$ 63,718	$ 37,232
Cost of revenues:
Total cost of revenues	17,129	10,009	43,809	27,402
Services
Revenues:
Total revenues	81,742	21,634	195,159	63,652
Cost of revenues:
Total cost of revenues	$ 30,517	$ 7,162	$ 75,294	$ 22,980

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss attributable to common stockholders - basic	$ (14,349)	$ (6,510)	$ (38,573)	$ (19,190)
Net loss attributable to common stockholders - diluted	(14,349)	(6,510)	(38,573)	(19,190)
Foreign currency translation adjustment	(6,214)	1,288	(6,593)	482
Total other comprehensive income/(loss)	(6,214)	1,288	(6,593)	482
Comprehensive loss	$ (20,563)	$ (5,222)	$ (45,166)	$ (18,708)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Changes in Stockholders’ Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income/(Loss)	Treasury Stock	Non-Controlling Interest
Beginning balance at Mar. 31, 2023	$ 73,302	$ 376	$ 218,473	$ (135,961)	$ (1,098)	$ (8,554)	$ 66
Beginning balance (in shares) at Mar. 31, 2023		37,621
Increase (Decrease) in Stockholders' Equity
Net loss attributable to common stockholders	(6,171)		(2,902)	(3,269)
Net income attributable to non-controlling interest	6						6
Foreign currency translation adjustment	91				100		(9)
Issuance of restricted shares	0	$ 1	(1)
Issuance of restricted shares (in shares)		162
Shares withheld pursuant to vesting of restricted stock	(4)					(4)
Forfeiture of restricted shares (in shares)		(82)
Exercise of stock options (in shares)		16
Exercise of stock options	36		36
Stock-based compensation	852		852
Ending balance (in shares) at Jun. 30, 2023		37,717
Ending balance at Jun. 30, 2023	68,112	$ 377	216,458	(139,230)	(998)	(8,558)	63
Beginning balance at Mar. 31, 2023	73,302	$ 376	218,473	(135,961)	(1,098)	(8,554)	66
Beginning balance (in shares) at Mar. 31, 2023		37,621
Increase (Decrease) in Stockholders' Equity
Net loss attributable to common stockholders	(19,190)
Net income attributable to non-controlling interest	38
Shares issued in connection with Combination	0
Ending balance (in shares) at Dec. 31, 2023		38,716
Ending balance at Dec. 31, 2023	57,644	$ 387	212,703	(146,281)	(616)	(8,651)	102
Beginning balance at Jun. 30, 2023	68,112	$ 377	216,458	(139,230)	(998)	(8,558)	63
Beginning balance (in shares) at Jun. 30, 2023		37,717
Increase (Decrease) in Stockholders' Equity
Net loss attributable to common stockholders	(6,510)		(2,962)	(3,548)
Foreign currency translation adjustment	(906)				(906)
Issuance of restricted shares	0	$ 10	(10)
Issuance of restricted shares (in shares)		982
Shares withheld pursuant to vesting of restricted stock	(90)					(90)
Stock-based compensation	1,101		1,101
Ending balance (in shares) at Sep. 30, 2023		38,699
Ending balance at Sep. 30, 2023	61,707	$ 387	214,587	(142,778)	(1,904)	(8,648)	63
Increase (Decrease) in Stockholders' Equity
Net loss attributable to common stockholders	(6,510)		(3,007)	(3,503)
Net income attributable to non-controlling interest	32						32
Foreign currency translation adjustment	1,295				1,288		7
Issuance of restricted shares	0	$ 2	(2)
Issuance of restricted shares (in shares)		28
Shares withheld pursuant to vesting of restricted stock	(3)					(3)
Forfeiture of restricted shares	0	$ (2)	2
Forfeiture of restricted shares (in shares)		(11)
Stock-based compensation	1,123		1,123
Ending balance (in shares) at Dec. 31, 2023		38,716
Ending balance at Dec. 31, 2023	57,644	$ 387	212,703	(146,281)	(616)	(8,651)	102
Beginning balance at Mar. 31, 2024	$ 38,636	$ 387	202,607	(154,796)	(985)	(8,682)	105
Beginning balance (in shares) at Mar. 31, 2024	37,212	38,709
Increase (Decrease) in Stockholders' Equity
Net loss attributable to common stockholders	$ (22,337)		(25)	(22,312)
Net income attributable to non-controlling interest	13						13
Foreign currency translation adjustment	426				418		8
Issuance of restricted shares	0	$ 1	(1)
Issuance of restricted shares (in shares)		54
Shares issued for transaction bonus	889	$ 1	888
Shares issued for transaction bonus (in shares)		174
Shares issued in connection with Combination	362,005	$ 707	361,298
Shares issued in connection with Combination (in shares)		70,704
Acquired through MiX Combination	7,823		7,818				5
Shares withheld pursuant to vesting of restricted stock	(2,836)					(2,836)
Stock-based compensation	5,929		5,929
Ending balance (in shares) at Jun. 30, 2024		109,641
Ending balance at Jun. 30, 2024	390,548	$ 1,096	578,514	(177,108)	(567)	(11,518)	131
Beginning balance at Mar. 31, 2024	$ 38,636	$ 387	202,607	(154,796)	(985)	(8,682)	105
Beginning balance (in shares) at Mar. 31, 2024	37,212	38,709
Increase (Decrease) in Stockholders' Equity
Net loss attributable to common stockholders	$ (38,573)
Net income attributable to non-controlling interest	17
Shares issued in connection with Combination	$ 362,005
Ending balance (in shares) at Dec. 31, 2024	132,493	134,556
Ending balance at Dec. 31, 2024	$ 458,541	$ 1,339	669,492	(193,345)	(7,578)	(11,518)	151
Beginning balance at Jun. 30, 2024	390,548	$ 1,096	578,514	(177,108)	(567)	(11,518)	131
Beginning balance (in shares) at Jun. 30, 2024		109,641
Increase (Decrease) in Stockholders' Equity
Net loss attributable to common stockholders	(1,888)			(1,888)
Net income attributable to non-controlling interest	5						5
Foreign currency translation adjustment	(777)				(797)		20
Proceeds from private placement, net of costs to issue common stock	61,851		61,851
Exercise of stock options (in shares)		243
Stock-based compensation	1,371		1,371
Ending balance (in shares) at Sep. 30, 2024		109,884
Ending balance at Sep. 30, 2024	451,110	$ 1,096	641,736	(178,996)	(1,364)	(11,518)	156
Increase (Decrease) in Stockholders' Equity
Net loss attributable to common stockholders	(14,349)			(14,349)
Net income attributable to non-controlling interest	(1)						(1)
Foreign currency translation adjustment	(6,218)				(6,214)		(4)
Shares issued in connection with Combination	21,343	$ 43	21,300
Shares issued in connection with Combination (in shares)		4,286
Proceeds from private placement, net of costs to issue common stock (in shares)		20,000
Proceeds from private placement, net of costs to issue common stock	4,608	$ 200	4,408
Exercise of stock options (in shares)		161
Exercise of stock options	910		910
Stock-based compensation	$ 1,138		1,138
Issue of stock appreciation rights (in shares)		225
Ending balance (in shares) at Dec. 31, 2024	132,493	134,556
Ending balance at Dec. 31, 2024	$ 458,541	$ 1,339	$ 669,492	$ (193,345)	$ (7,578)	$ (11,518)	$ 151

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Net loss	$ (38,548)	$ (10,321)
Adjustments to reconcile net loss to cash provided by/(used in) operating activities:
Non-controlling interest	17	38
Gain on bargain purchase	0	(1,800)
Inventory reserve	1,571	1,498
Stock based compensation expense	8,438	3,076
Depreciation and amortization	33,042	7,155
Right-of-use assets, non-cash lease expense	4,284	2,156
Derivative mark-to-market adjustment	(475)	0
Bad debts expense	7,229	1,339
Deferred income taxes	676	(378)
Shares issued for transaction bonuses	889	0
Lease termination and modification losses	232	0
Other non-cash items	727	58
Changes in operating assets and liabilities:
Accounts receivables	(15,245)	(2,284)
Inventories	2,623	(1,506)
Prepaid expenses and other current assets	2,062	876
Deferred costs	(5,124)	440
Deferred revenue	1,031	(292)
Accounts payable and accrued expenses	(15,655)	4,765
Lease liabilities	(4,098)	(2,157)
Accrued severance payable, net	(562)	(21)
Net cash provided by/(used in) operating activities	(16,886)	2,642
Cash flows from investing activities
Acquisition, net of cash assumed	(137,112)	0
Proceeds from sale of fixed assets	256	0
Capitalized software development costs	(7,310)	(2,949)
Capital expenditures	(16,607)	(2,364)
Repayment of loan advanced to external parties	294	0
Net cash used in investing activities	(160,479)	(5,313)
Cash flows from financing activities
Repayment of long-term debt	(2,140)	(3,079)
Short-term bank debt, net	11,887	4,322
Purchase of treasury stock upon vesting of restricted stock	(2,836)	(97)
Repayment of financing lease	0	(129)
Payment of preferred stock dividend and redemption of preferred stock	(90,298)	(3,385)
Proceeds from private placement, net	66,459	0
Proceeds from long-term debt	125,000	0
Payment of long-term debt costs	(1,410)	0
Proceeds from exercise of stock options, net	912	36
Cash paid on dividends to affiliates	(6)	0
Net cash (used in)/provided by financing activities	107,568	(2,332)
Effect of foreign exchange rate changes on cash and cash equivalents	(1,222)	(754)
Net decrease in cash and cash equivalents, and restricted cash	(71,019)	(5,757)
Cash and cash equivalents, and restricted cash at beginning of the period	109,664	25,089
Cash and cash equivalents, and restricted cash at end of the period	38,645	19,332
Reconciliation of cash and cash equivalents, and restricted cash
Cash and cash equivalents	24,354	24,780
Restricted cash	5,011	310
Cash, cash equivalents, and restricted cash	38,645	19,332
Supplemental disclosure of cash flow information:
Taxes	1,052	170
Interest	11,517	1,273
Noncash investing and financing activities:
Common stock issued for transaction bonus	9	0
Shares issued in connection with MiX Combination	362,005	0
Value of licensed intellectual property acquired in connection with Movingdots acquisition	0	1,517
Preferred stock dividends paid in shares	0	1,108
Fleet Complete
Noncash investing and financing activities:
Shares issued in connection with FC Acquisition	$ 21,343	$ 0

DESCRIPTION OF THE COMPANY AND

DESCRIPTION OF THE COMPANY AND BASIS OF PRESENTATION	9 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
DESCRIPTION OF THE COMPANY AND BASIS OF PRESENTATION	DESCRIPTION OF THE COMPANY AND BASIS OF PRESENTATION Description of the Company Powerfleet, Inc. (the “Company” or “Powerfleet”) is a global leader of Artificial Intelligence-of-Things (“AIoT”) solutions providing valuable business intelligence for managing high-value enterprise assets that improve operational efficiencies. The Company has a primary listing on The Nasdaq Global Market and a secondary listing on the Main Board of the Johannesburg Stock Exchange. I.D. Systems, Inc. (“I.D. Systems”) was incorporated in the State of Delaware in 1993. Powerfleet was incorporated in the State of Delaware in February 2019 for the purpose of effectuating the transactions pursuant to which the Company acquired Pointer Telocation Ltd. (“Pointer”) and commenced operations on October 3, 2019. Upon the closing of such transactions, Powerfleet became the parent entity of I.D. Systems and Pointer. On April 2, 2024 (the “Implementation Date”), the Company consummated the transactions contemplated by the Implementation Agreement, dated as of October 10, 2023 (the “Implementation Agreement”), that the Company entered into with Main Street 2000 Proprietary Limited, a private company incorporated in the Republic of South Africa and a wholly owned subsidiary of the Company (“Powerfleet Sub”), and MiX Telematics Limited, a public company incorporated under the laws of the Republic of South Africa (“MiX Telematics”), pursuant to which MiX Telematics became an indirect, wholly owned subsidiary of the Company (the “MiX Combination”). The consolidated financial statements as of and for the nine months ended December 31, 2024 include the financial results of MiX Telematics and its subsidiaries from the Implementation Date. See Note 3 for additional information. On October 1, 2024, the Company consummated the transactions contemplated by the Share Purchase Agreement, dated as of September 18, 2024 (the “Purchase Agreement”), by and among Golden Eagle Topco, LP (“Golden Eagle LP”), the persons that are party to the Purchase Agreement under the heading “Other Sellers” (the “Other Sellers” and, together with Golden Eagle LP, the “Sellers”), the Company and Powerfleet Canada Holdings Inc., a wholly owned subsidiary of the Company (the “Canadian SPV” and, together with the Company, the “Purchasers”), pursuant to which the Purchasers acquired all of the direct and indirect common shares in the capital of Golden Eagle Canada Holdings, Inc. (“Canada Holdco”) and Complete Innovations Holdings Inc. (“CIH”), and all of the issued and outstanding shares of common stock of Golden Eagle Holdings, Inc. (together with Canada Holdco and CIH, “Fleet Complete”). As a result, Fleet Complete became an indirect, wholly owned subsidiary of the Company (the “FC Acquisition”). The consolidated financial statements as of and for the three months ended December 31, 2024 include the financial results of Fleet Complete and its subsidiaries from October 1, 2024. See Note 3 for additional information. Basis of Preparation The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned and majority-owned subsidiaries. All material intercompany balances and transactions have been eliminated on consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and include all adjustments (consisting only of normal recurring items) which are considered necessary for a fair presentation of the consolidated financial position of the Company as of March 31, 2024 and December 31, 2024, the consolidated results of its operations for the three- and nine-month periods ended December 31, 2023 and 2024, the consolidated change in stockholders’ equity for the three- and nine-month periods ended December 31, 2023 and 2024, and the consolidated cash flows for the nine-month periods ended December 31, 2023 and 2024. The results of operations for the three- and nine-month periods ended December 31, 2024 are not necessarily indicative of the operating results for the full year. On May 8, 2024, the Company’s Board of Directors approved a change in our fiscal year end from December 31 to March 31 in order to better align the Company’s reporting calendar with the April 2, 2024 close of the MiX Combination and MiX Telematics’ historical March 31 fiscal year end. These financial statements should be read in conjunction with the audited consolidated financial statements and related disclosures for the fiscal year ended December 31, 2023 included in the Company’s Annual Report on Form 10-K for the year then ended, and the audited consolidated financial statements and related disclosures for the three-month transition period ended March 31, 2024 included in the Company’s Transition Report on Form 10-KT for the period then ended. Restatement of Previously Issued Consolidated Financial Statements In connection with the preparation of the Company’s audited consolidated financial statements for the year ended December 31, 2023, the Company determined that the accounting for the redemption premium associated with its Series A convertible preferred stock (“Series A Preferred Stock”) resulted in an understatement of “net loss attributable to common stockholders” and “net loss per share attributable to common stockholders” for each period, an understatement of the value of the convertible redeemable preferred stock as of each balance sheet date, and an overstatement of the additional paid-in capital as of each balance sheet date. The required adjustments to correct the redemption value of the calculation of the Series A Preferred Stock and the related accretion of the value of the preferred stock in the consolidated statement of operations included the recording of a non-cash accretion which resulted in an increase in the net loss attributable to common stockholders, an increase in the “convertible redeemable preferred stock”, and a decrease of “additional paid-in capital” for the fiscal years ended December 31, 2021 and 2022 and each of the interim periods during the 2022 and 2023 fiscal years. The correction of the error resulted in reporting the value of the convertible preferred stock including the accretion to the redemption value from the date of original issuance through each balance sheet date applying the interest method. The restatement to non-cash accretion resulted in an increase in the net loss attributable to common stockholders and a decrease in “additional paid-in capital” of $1,604 and $1,667 for the three-month period ended June 30, 2023 and three-month period ended September 30, 2023, respectively. The Company had determined that it was appropriate to restate the financial statements for the fiscal years ended December 31, 2021 and 2022 and each of the interim periods during the 2022 and 2023 fiscal years included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”). In addition, the Company also corrected other unrelated immaterial errors that were previously either unrecorded or recorded as out-of-period adjustments. For additional information refer to Note 2 to the financial statements included in the 2023 Annual Report. Going Concern As of December 31, 2024, the Company had cash and cash equivalents and restricted cash of $38,645 and working capital of $30,506. The Company’s primary sources of cash are cash flows from sales of products and services, its holdings of cash, cash equivalents and proceeds from the sale of its capital stock and borrowings under its credit facilities. See Note 13 for additional information on the Company’s available credit facilities. Management believes the Company’s cash, cash equivalents, and restricted cash of $38,645 as of December 31, 2024, in conjunction with cash expected to be generated from the execution of its strategic plan over the next 12 months, and proceeds from the Company’s credit facilities are sufficient to fund the projected operations for at least the next 12 months from the issuance date of these financial statements ( February 10, 2025) a nd service the Company’s outstanding obligations. Such expectation is based, in part, on the achievement of a certain volume of assumed revenue and gross margin; however, there is no guarantee the Company will achieve this amount of revenue and gross margin during the assumed time period. Management assessed various additional operating cost reduction options that are available to the Company and would be implemented, if assumed levels of revenue and gross margin are not achieved and additional funding is not obtained.

USE OF ESTIMATES

USE OF ESTIMATES	9 Months Ended
	Dec. 31, 2024
Disclosure Use Of Estimates [Abstract]
USE OF ESTIMATES	USE OF ESTIMATES The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such management estimates include, but are not limited to, assumptions used in business combinations, allowance for credit losses, income taxes, realization of deferred tax assets, accounting for uncertain tax positions, the impairment of intangible assets, including goodwill and long-lived assets, capitalized software development costs, standalone selling prices (“SSP”), valuation of the derivative asset, and market-based stock-based compensation costs. Actual results could differ materially from those estimates and assumptions made.

ACQUISITION

ACQUISITION	9 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITION	ACQUISITION MiX Combination On April 2, 2024, the Company consummated the MiX Combination, pursuant to which Powerfleet Sub acquired all the issued ordinary shares of MiX Telematics (including those represented by MiX Telematics’ American Depositary Shares) through the implementation of a scheme of arrangement in accordance with Sections 114 and 115 of the South African Companies Act, No. 71 of 2008, as amended, in exchange for shares of the Company’s common stock. As a result, MiX Telematics became the Company’s indirect, wholly owned subsidiary. The MiX Combination met the criteria for a business combination to be accounted for using the acquisition method under ASC 805, Business Combinations (“ASC 805”), with the Company identified as the legal and the accounting acquirer. The Company was determined to be the accounting acquirer under Accounting Standards Codification (“ASC”) 805, Business Combinations (“ASC 805”), based on the evaluation of the following facts and circumstances favoring Powerfleet as the accounting acquirer over those supporting MiX Telematics as the accounting acquirer: • The majority of the Company’s board of directors is composed of directors with prior affiliation to the Company. In addition the Company’s Chairperson continued in the role following the MiX Combination; • Following the MiX Combination the majority of the senior management team, including the Chief Executive Officer, comprised the Company’s senior management team who were already operating in that capacity for the Company prior to the MiX Combination; • While the voting rights of 65.5% in favor of MiX Telematics is an indicator that MiX Telematics is the acquirer, the Company believes that the weight of the indicator is tempered given that the negotiated premium paid by Powerfleet to MiX Telematics contributed to the relative ownership split, and that, qualitatively, the significant reduction in the carryover MiX Telematics institutional investor base would have reduced the legacy MiX Telematics shareholders’ ability to control the combined entity, particularly in the light of the significant concentration of institutional investors on the Powerfleet side; and • While no individual or organized group owns a large minority interest in the combined entity, the Company notes that the largest institutional investor following the MiX Combination is an investor of legacy Powerfleet. Additionally, the Company also notes that, immediately following the closing of the MiX Combination, 30% of the approximately 35% of total shares held by shareholders of legacy Powerfleet were concentrated in the Company’s top 20 institutional shareholders, compared to only 9% of the approximately 65% of total shares held by shareholders of legacy MiX Telematics. The acquisition of MiX Telematics and its business will, among other things: • create a mobile asset AIoT SaaS organization with significant scale, serving all mobile asset types. The increased scale is expected to enable the combined entity to more efficiently serve its customers and create advantages to compete in an industry characterized by the need for high pace of development and innovation; • enable the Company to maximize significant cross-sell and upsell opportunities within its large joint customer base due to the joint entity’s combined geographical footprint, deep vertical expertise and expanded software solution sets coupled with its extensive direct and indirect sales channel capabilities; and • enable the combined organization to accelerate the delivery of top-class solutions with improved competitive advantage by integrating Powerfleet’s and MiX Telematics’ world-class engineering and technology teams. The estimated fair value of the consideration transferred for MiX Telematics was $369,823 as of the Implementation Date, which consisted of the following: (in thousands, except for share price and exchange ratio) April 2, Number of MiX Telematics ordinary shares outstanding 554,021 Exchange ratio 0.12762 Shares of Powerfleet common stock issued for MiX Telematics ordinary shares outstanding 70,704 Powerfleet stock price* 5.12 Fair value of Powerfleet common stock transferred to MiX Telematics shareholders 362,005 Replacement of acquiree’s equity awards by the acquirer** 7,818 Total fair value of preliminary consideration 369,823 * Powerfleet’s closing share price on April 2, 2024. ** The portion of the fair-value-based measure of the replacement award that is part of the consideration transferred in exchange for the acquiree equals the portion of the acquiree award that is attributable to pre-combination vesting. Allocation of Purchase Price The purchase price was allocated to the assets and liabilities assumed based on the estimated fair values at the date of acquisition. The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill. Goodwill is primarily attributed to the assembled workforce, expected synergies from future expected economic benefits, including enhanced revenue growth from expanded products and capabilities, as well as substantial cost savings from duplicative overheads, streamlined operations and enhanced efficiency. Goodwill is not deductible for tax purposes. The preliminary allocation of purchase price was as follows (in thousands): April 2, Assets acquired: Cash and cash equivalents $ 26,737 Restricted cash 794 Accounts receivable, net 24,250 Inventory, net 4,142 Prepaid expenses and other current assets 8,886 Fixed assets, net 35,587 Intangible assets, net 153,000 Right-of-use asset 3,794 Deferred tax assets 1,093 Other assets 973 Total assets acquired $ 259,256 Liabilities assumed: Short-term bank debt and current maturities of long-term debt $ 20,158 Accounts payable and accrued expenses 26,400 Deferred revenue - current 6,394 Lease liability - current 859 Income taxes payable 355 Lease liability - less current portion 2,852 Deferred tax liability 48,725 Other long-term liabilities 484 Total liabilities assumed $ 106,227 Total identifiable net assets acquired $ 153,029 Non-controlling interest (5) Goodwill 216,799 Purchase price consideration $ 369,823 The fair values of the assets acquired and liabilities assumed, including the identifiable assets acquired, have been determined using the income and cost approach, and are partially based on inputs that are unobservable. The Company used discounted cash flow (“DCF”) analyses, which represent Level 3 fair value measurements, to assess certain components of its purchase price allocation as a result of the acquisition. The fair value of the customer relationships was determined using the multi-period excess earnings method. The fair value of the tradename and developed technology was determined using an income approach based on the relief from royalty method. For the fair values, the Company used (i) forecasted future cash flows, (ii) historical and projected financial information, (iii) synergies including cost savings, (iv) revenue growth rates, (v) customer attrition rates, (vi) royalty rates, and (vii) discount rates, as relevant, that market participants would consider when estimating fair values. The initial accounting for the business combination is complete at the reporting date. The fair values of the identifiable assets acquired and liabilities assumed are final and therefore, adjustments to them and the resulting goodwill will not occur in future. Acquired Identifiable Intangible Assets The following table sets forth the fair values of the components of the identifiable intangible assets acquired and their estimated useful lives: (in thousands) Fair value Weighted average useful lives Trade name $ 10,000 14 years Developed technology 30,000 5 years Customer relationships 113,000 13 years $ 153,000 Acquisition-Related Expenses The Company expensed a total of $20,571 of acquisition-related costs in the consolidated statements of operations related to the MiX Combination, $128 of which was expensed in the three-month period ended December 31, 2024 and $14,771 of which was expensed in the nine-month period ended December 31, 2024. Unaudited Pro Forma Financial Information The business acquired in the MiX Combination contributed revenue of $42,818 and a net profit of $1,098 for the three-month period ended December 31, 2024 and revenue of $130,332 and a net loss of $3,827 for the nine-month period ended December 31, 2024. FC Acquisition On October 1, 2024 (the “FC Closing Date”), the Company consummated the FC Acquisition, pursuant to which Fleet Complete became an indirect, wholly owned subsidiary of the Company in exchange for payment by the Purchasers of an aggregate purchase price of $190,000, subject to certain customary working capital and other adjustments as described in the Purchase Agreement (as adjusted, the “Purchase Price”). The FC Acquisition met the criteria for a business combination to be accounted for using the acquisition method under ASC 805, Business Combinations, with the Company identified as the legal and the accounting acquirer. The acquisition of Fleet Complete and its business will, among other things: • strengthen Powerfleet’s North American presence and fuel top-line growth in key international markets, including Europe and Australia. The integration of Fleet Complete’s high-velocity mid-market business with Powerfleet’s enterprise operations creates a balanced and resilient business model across regions, reducing risk and enhancing growth potential; • open significant cross-selling opportunities through Fleet Complete’s well-established indirect channel relationships, especially with major United States and Canadian telecommunication carriers, offering considerable growth potential; and • strengthen Powerfleet’s strategic position as a leader in the AIoT SaaS market. The increased scale solidifies Powerfleet’s enhanced competitive position relative to the other largest players in the industry. The preliminary estimated fair value of the consideration transferred for the FC Acquisition was $189,950 as of the FC Closing Date, which consisted of the following: (in thousands, except for share price) October 1, 2024 Shares of Powerfleet common stock issued 4,286 Powerfleet stock price* 4.98 Fair value of Powerfleet common stock transferred 21,343 Cash consideration to former shareholders 16,225 Repayment of Fleet Complete’s existing debt 152,382 Total fair value of preliminary consideration 189,950 * Powerfleet’s closing share price on October 1, 2024. $60,000 of the cash portion of the Purchase Price was funded by the Private Placement, as described below, and $125,000 of the cash portion of the Purchase Price was funded with a senior secured term loan facility provided by FirstRand Bank Limited (acting through its Rand Merchant Bank division) (“RMB”), as described in Note 13 below. Concurrently with the closing of the FC Acquisition, on October 1, 2024, the Company consummated a private placement contemplated by the Subscription Agreement, dated as of September 18, 2024 (the “Subscription Agreement”), by and among the Company and various accredited investors party thereto (the “Investors”), pursuant to which the Investors purchased from the Company, and the Company issued to such Investors, an aggregate of 20,000 shares of the Company’s common stock at a price per share of $3.50 for aggregate gross proceeds of $70,000 (the “Private Placement”). $60,000 of such gross proceeds funded a portion of the Purchase Price with the remaining $10,000 in proceeds expected to be used by the Company for working capital and general corporate purposes. $62,000, net of costs, was received by September 30, 2024, with the remaining $8,000, net of costs, received on October 1, 2024. Preliminary Allocation of Purchase Price The purchase price was allocated to the assets and liabilities assumed based on the estimated fair values at the date of acquisition. The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill. Goodwill is primarily attributed to the assembled workforce, expected synergies from future expected economic benefits, including enhanced revenue growth from expanded products and capabilities, as well as substantial cost savings from duplicative overheads, streamlined operations and enhanced efficiency. Goodwill is not deductible for tax purposes. Goodwill associated with the acquisition has not yet been assigned to the Company ’ s geographical regions pending finalization of the purchase accounting. The preliminary allocation of purchase price was as follows (in thousands): October 1, 2024 Assets acquired: Cash and cash equivalents $ 3,964 Accounts receivable, net 19,990 Inventory, net 6,598 Prepaid expenses and other current assets 9,144 Fixed assets, net 3,693 Intangible assets, net 101,261 Identifiable intangible assets acquired 99,000 Computer software 2,261 Right-of-use asset 2,823 Deferred tax assets 1,897 Other assets 4,555 Total assets acquired $ 153,925 Liabilities assumed: Accounts payable and accrued expenses 30,857 Deferred revenue - current 3,088 Lease liability - current 2,965 Deferred revenue - less current portion 1,118 Lease liability - less current portion 75 Accrued severance payable 216 Other long-term liabilities 405 Total liabilities assumed $ 38,724 Total identifiable net assets acquired $ 115,201 Goodwill 74,749 Purchase price consideration $ 189,950 The above fair values of assets acquired and liabilities assumed are preliminary and are based on the information that was available as of the reporting date. The Company’s allocation of the preliminary purchase price to certain assets acquired and liabilities assumed is provisional and the Company will continue to adjust those estimates as additional information pertaining to events or circumstances present at October 1, 2024 becomes available and final valuation and analysis are completed. The fair values of the assets acquired and liabilities assumed, including the identifiable assets acquired, have been preliminarily determined using the income and cost approach, and are partially based on inputs that are unobservable. The Company used DCF analyses, which represent Level 3 fair value measurements, to assess certain components of its purchase price allocation as a result of the acquisition. The fair value of the customer relationships was determined using the multi-period excess earnings method. The fair value of the tradename and developed technology was determined using an income approach based on the relief from royalty method. For the fair value estimates, the Company used (i) forecasted future cash flows, (ii) historical and projected financial information, (iii) synergies including cost savings, (iv) revenue growth rates, (v) customer attrition rates, (vi) royalty rates, and (vii) discount rates, as relevant, that market participants would consider when estimating fair values. These estimates require judgment and are subject to change. Differences between the preliminary estimates and final accounting may occur, and those could be material. The Company believes that the information provides a reasonable basis for estimating the fair values of the acquired assets and assumed liabilities, but the potential for measurement period adjustments exists based on the Company’s continuing review of matters related to the acquisition. Adjustments to initial preliminary fair value of the assets acquired and assumed liabilities during the measurement period until October 1, 2025, will be recorded during the period in which the adjustments are determined, including the effect on earnings of any amounts we would have recorded in previous periods if the accounting had been completed (i.e. the historical reported financial statements will not be retrospectively adjusted). The provisional amounts for assets acquired and liabilities assumed include: • The fair value of accounts receivable and other receivables which may be subject to adjustment for reassessment of collectability as of the date of acquisition, collections and other adjustment subsequent to the acquisition; • Property, and equipment, for which the preliminary estimates are subject to revision for finalization of preliminary appraisals; • Right-of-use assets and lease liabilities, which will be subject to adjustment upon completion of the review of the inputs, including sublease assumptions, for the calculations; • Acquired inventory, which values are still being assessed on an individual basis; • Prepaid expenses, accounts payable and accrued expenses, which will be subject to adjustment based upon completion of working capital clean up and assessment of other factors; • The recognition and measurement of contract assets and contract liabilities acquired in accordance with ASC 606 will be subject to adjustment upon completion of assessment; • Acquired intangible assets will be subject to adjustment as additional assets are identified, estimates and forecasts are refined and disaggregated, useful lives are finalized, and other factors deemed relevant are considered; • Deferred income taxes will be subject to adjustment based upon the completion of the review of the book and tax bases of assets acquired and liabilities assumed, applicable tax rates and the impact of the revisions of estimates for the items described above; and • Goodwill will be subject to adjustment for the impact of the revisions of estimates for the items described above. The Company will finalize the purchase price allocation no later than one year from the acquisition date. Acquired Identifiable Intangible Assets The following table sets forth preliminary estimated fair values of the components of the identifiable intangible assets acquired and their estimated useful lives: (in thousands) Fair value Weighted average useful lives Trade name $ 4,000 4.5 years Developed technology 25,000 5.5 years Customer relationships 70,000 9.5 years $ 99,000 Acquisition-Related Expenses The Company expensed a total of $5,299 of acquisition-related costs in the consolidated statements of operations related to the FC Acquisition, $4,032 of which was expensed in the three-month period ended December 31, 2024 and $5,299 of which was expensed in the nine-month period ended December 31, 2024. Unaudited Pro Forma Financial Information If the business acquired in the FC Acquisition was acquired on April 1, 2024, it would have contributed revenue of $29,937 and a net profit of $838 for the three-month period ended December 31, 2024 and revenue of $90,318 and a net loss of $20,597 for the nine-month period ended December 31, 2024.

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS	9 Months Ended
	Dec. 31, 2024
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS The Company considers all highly liquid debt instruments with an original maturity of three months or less when purchased to be cash equivalents unless they are legally or contractually restricted. The Company’s cash and cash equivalent balances exceed Federal Deposit Insurance Corporation (“FDIC”) and other local jurisdictional limits. Restricted cash at March 31, 2024 consisted of escrow amounts of $85,000 for a facilities agreement (the “Facilities Agreement”) with RMB deposited in escrow for the MiX Combination and cash of $310 held in escrow for purchases from a vendor. Restricted cash at December 31, 2024 consists of cash of $3,855 held in escrow related to the FC Acquisition to secure purchase price adjustment payment obligations under the Purchase Agreement and certain tax liabilities, cash of $310 held in escrow for purchases from a vendor, cash of $794 held by MiX Telematics Enterprise BEE Trust (a VIE which is consolidated) to be used solely for the benefit of its beneficiaries and c ash securing guarantees of $51 issued in respect of property lease agreements entered into by MiX Telematics Australasia.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION The Company and its subsidiaries generate revenue from sales of systems and products and from customer SaaS and hosting infrastructure fees. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services. Sales, value add, and other taxes the Company collects concurrently with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as an expense. The expected costs associated with the Company’s base warranties continue to be recognized as an expense when the products are sold (see Note 14). Revenue is recognized when performance obligations under the terms of a contract with the customer are satisfied. Product sales are recognized at a point in time when title transfers, when the products are shipped, or when control of the system is transferred to the customer, which usually is upon delivery of the system and when contractual performance obligations have been satisfied. The Company utilizes significant judgment to determine whether control of the hardware has transferred to the customer (i.e. distinct to the customer separate from SaaS services provided). For products which are not distinct to the customer separate from the SaaS services provided, the Company considers both hardware and SaaS services a bundled performance obligation. When another party is involved in providing products or services to the end customer, the Company evaluates the nature of its promise to determine whether it is acting as an agent or principal in the sales transaction. The Company considers itself acting as a principal if it controls the specified products or services before they are transferred to the end customers, otherwise the Company is acting as an agent. The Company determines control as the ability to direct the use of, and obtain substantially all of the remaining benefits from, the products or services. Control includes the ability to prevent others from directing the use of, and obtaining the benefits from, the products or services. Revenue is recognized based on the gross amount of consideration to which the Company expects to be entitled to in exchange for the specified products or services when acting as a principal and is recognized based on any fee or commission to which it expects to be entitled to in exchange for arranging for the specified products or services to be provided by the other party. Under the applicable accounting guidance, all of the Company’s billings for future services are deferred and classified as a current and long-term liability. The deferred revenue is recognized over the service contract life, ranging from one to five years, beginning at the time that a customer acknowledges acceptance of the equipment and service. Payment terms are generally 30 days after invoice date. The Company recognizes revenue for remotely hosted SaaS agreements and post-contract maintenance and support agreements beyond its standard warranties over the life of the contract. Revenue is recognized ratably over the service periods and the cost of providing these services is expensed as incurred. Amounts invoiced to customers which are not recognized as revenue are classified as deferred revenue and classified as current or long-term based upon the terms of future services to be delivered. Deferred revenue also includes prepayment of extended maintenance, hosting and support contracts. The Company earns other service revenues from installation services, training and technical support services which are short-term in nature and revenue for these services is recognized at the time of performance when the service is provided. The Company also derives revenue from leasing arrangements. Such arrangements provide for monthly payments covering product or system sale, maintenance, support and interest. These arrangements meet the criteria to be accounted for as operating or sales-type leases. Accordingly, for sales-type leases an asset is established for the “sales-type lease receivable” at the present value of the expected lease payments and revenue is deferred and recognized over the service contract, as described above. Maintenance revenues and interest income are recognized monthly over the lease term. The Company’s contracts with customers may include multiple performance obligations. For such arrangements, the Company allocates revenue to each performance obligation based on its relative SSP. Judgment is required to determine the SSP for each distinct performance obligation. The Company generally determines standalone selling prices based on observable prices charged to customers. Significant pricing practices taken into consideration include the Company’s discounting practices, the size and volume of its transactions, the customer demographic, price lists, its go-to-market strategy and historical and current sales and contract prices. As the Company’s go-to-market strategies evolve, it may modify its pricing practices in the future, which could result in changes to SSP. In certain cases, the Company is able to establish SSP based on observable prices of products or services sold separately in comparable circumstances to similar customers. The Company uses a single amount to estimate SSP when it has observable prices. If SSP is not directly observable, for example when pricing is highly variable, the Company uses a range of SSP. The Company determines the SSP range using information that may include pricing practices or other observable inputs. The Company typically has more than one SSP for individual products and services due to the stratification of those products and services by customer size. The Company recognizes an asset for the incremental costs of obtaining the contract arising from the sales commissions to distributors and employees because the Company expects to recover those costs through future fees from the customers. The Company amortizes the asset over one to five years because the asset relates to the services transferred to the customer during the contract term of one to five years. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which the Company has the right to invoice for services performed. The following table presents the Company’s revenues disaggregated by revenue source for the three and nine months ended December 31, 2023 and 2024 (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2023 2024 2023 2024 Products $ 12,916 $ 24,687 $ 37,232 $ 63,718 Services 21,634 81,742 63,652 195,159 $ 34,550 $ 106,429 $ 100,884 $ 258,877 The balances of contract assets and contract liabilities from contracts with customers are as follows as of March 31, 2024 and December 31, 2024 (in thousands): March 31, 2024 December 31, 2024 Contract Assets: Deferred contract cost (1) $ 2,632 $ 4,702 Deferred costs - current $ 42 $ 6 Contract Liabilities Deferred revenue – services (2) $ 10,674 $ 20,952 Deferred revenue – products (2) 60 909 10,734 21,861 Less: Deferred revenue – current (5,842) (17,912) Deferred revenue – less current portion $ 4,892 $ 3,949 (1) Deferred Contract costs are included in Other assets on the condensed consolidated balance sheets. (2) The Company records deferred revenues when cash payments are received or due in advance of the Company’s performance. For the three-month periods ended December 31, 2023 and 2024, the Company recognized revenue of $914 and $5,605, respectively, which was included in the deferred revenue balance at the beginning of each reporting period. For the nine-month periods ended December 31, 2023 and 2024, the Company recognized revenue of $3,832 an d $9,863, respectively, which was included in the deferred revenue balance at the beginning of each reporting period. The Company expects to recognize as revenue through year 2029, when it transfers those goods and services and, therefore, satisfies its performance obligation to the customers.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	9 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
ALLOWANCE FOR CREDIT LOSSES	ALLOWANCE FOR CREDIT LOSSES The Company’s receivables were evaluated to determine an appropriate allowance for credit losses. For trade receivables, the Company’s historical collections were analyzed by the number of days past due to determine the uncollectible rate in each range of days past due and considerations of any changes expected in the future. The estimate of the allowance for credit losses is charged to the allowance for credit losses based on the age of receivables multiplied by the historical uncollectible rate for the range of days past due or earlier if the account is deemed uncollectible for other reasons. Recoveries of amounts previously charged as uncollectible are credited to the allowance for credit losses. An analysis of the allowance for credit losses for the periods ended December 31, 2023 and 2024 is as follows (in thousands): Nine Months Ended December 31, 2023 2024 Allowance for credit losses, March 31 $ 2,328 $ 3,197 Adjustment for adoption of ASU 2016-13 (200) — Current period provision for expected credit losses 1,339 7,229 Write-offs charged against the allowance (959) (4,880) Foreign currency translation 289 (63) Allowance for credit losses, December 31 $ 2,797 $ 5,483

PREPAID EXPENSES AND OTHER ASSE

PREPAID EXPENSES AND OTHER ASSETS	9 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER ASSETS	PREPAID EXPENSES AND OTHER ASSETS Prepaid expenses and other current assets comprise the following (in thousands): March 31, December 31, Sales-type lease receivables, current $ 1,100 $ 1,096 Prepaid expenses* 2,817 8,787 Contract assets 1,162 6,306 Tax receivables 125 837 VAT receivable — 5,177 Sundry debtors — 2,999 Other current assets 2,887 253 $ 8,091 $ 25,455 *This includes the prepaid portion of total deferred contract assets.

INVENTORY

INVENTORY	9 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Inventory, which primarily consists of finished goods and components used in the Company’s products, is stated at the lower of cost or net realizable value using the “moving average” cost method or the first-in first-out (FIFO) method. Inventory is shown net of a valuation reserve of $538 at March 31, 2024 a nd $758 at December 31, 2024. Inventories consist of the following (in thousands): March 31, December 31, Components $ 9,403 $ 10,434 Work in process 49 44 Finished goods, net 12,206 17,507 $ 21,658 $ 27,985

FIXED ASSETS

FIXED ASSETS	9 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
FIXED ASSETS	FIXED ASSETS Fixed assets are stated at cost, less accumulated depreciation and amortization, and are summarized as follows (in thousands): March 31, December 31, 2024 Installed and uninstalled products $ 11,030 $ 52,506 Computer software 11,496 13,456 Computer and electronic equipment 6,179 7,252 Furniture and fixtures 2,361 3,882 Leasehold improvements 1,498 1,420 Plant and equipment — 275 Assets in progress — 22 32,564 78,813 Accumulated depreciation and amortization (19,845) (23,556) $ 12,719 $ 55,257 Depreciation and amortization expense for the three- and nine-month periods ended December 31, 2023 was $1,200 and $2,838 , respectively, and for the three- and nine-month periods ended December 31, 2024 was $4,586 and $14,653, respectively.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	9 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL The Company capitalizes costs for software to be sold, marketed, or leased to customers. Costs incurred internally in researching and developing software products are charged to expense until technological feasibility has been established for the product. Once technological feasibility is established, software costs are capitalized until the product is available for general release to customers. Judgment is required in determining when technological feasibility of a product is established. The amortization of these costs is included in cost of revenue over the estimated life of the products. The following table summarizes identifiable intangible assets of the Company as of March 31, 2024 and December 31, 2024 (in thousands): December 31, 2024 Useful Lives (In Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized: Customer relationships 9 - 13 $ 202,264 $ (17,592) $ 184,672 Trademark and tradename 3 - 15 21,562 (5,229) 16,333 Patents 7 - 11 628 (531) 97 Technology 5 - 7 72,769 (17,549) 55,220 Software to be sold or leased 3 - 7 8,423 (1,516) 6,907 305,646 (42,417) 263,229 Unamortized: Customer list 104 — 104 Trademark and tradename 63 — 63 167 — 167 Total $ 305,813 $ (42,417) $ 263,396 March 31, 2024 Useful Lives (In Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized: Customer relationships 9 - 12 $ 19,264 $ (8,012) $ 11,252 Trademark and tradename 3 - 15 7,553 (3,877) 3,676 Patents 7 - 11 628 (464) 164 Technology 7 10,911 (10,911) — Software to be sold or leased 3 5,159 (764) 4,395 43,515 (24,028) 19,487 Unamortized: Customer list 104 — 104 Trademark and tradename 61 — 61 165 — 165 Total $ 43,680 $ (24,028) $ 19,652 At December 31, 2024 , the weighted-average amortization periods for customer relationships, trademarks and tradenames, patents, technology, and capitalized software to be sold or leased were 12.8, 12.1, 7.0, 4.7, and 5.0 years, res pectively. Amortization expense for the three- and nine-month periods ended December 31, 2023 was $1,148 and $4,317, respectively, and for the three- and nine-month periods ended December 31, 2024 was $8,966 and $18,389 , respectively. Estimated future amortization expense for each of the five succeeding fiscal years for these intangible assets is as follows: 2025 (remaining) $ 10,265 2026 33,926 2027 33,612 2028 32,251 2029 31,093 Thereafter 122,082 $ 263,229 Refer to Note 3 for the change in the carrying amount of goodwill from April 1, 2024 to December 31, 2024 as a result of the MiX Combination and FC Acquisition. For the nine-month period ended December 31, 2024, the Company did not identify any indicators of impairment.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION During the three-month period ended June 30, 2024, the Company granted options to purchase 375 shares of common stock with time-based vesting conditions. During the three-month periods ended September 30, 2024 and December 31, 2024, the Company did not grant any options to purchase shares of common stock with time-based vesting conditions. [A] Stock Options: The following table summarizes the activity relating to the Company’s market-based stock options for the nine-month period ended December 31, 2024: Options Weighted- Weighted Average Contractual Remaining Term (years) Aggregate Intrinsic Values (in thousands) Outstanding as of April 1, 2024 5,445 13.39 — — Granted — — — — Exercised — — — — Forfeited (50) 3.13 — — Outstanding as of December 31, 2024 5,395 13.48 7.21 $ 4,414 Vested as of December 31, 2024 — — — $ — The following table summarizes the activity relating to the Company’s stock options, excluding the market-based stock options, for the nine-month period ended December 31, 2024: Options Weighted- Weighted Average Contractual Remaining Term (years) Aggregate Intrinsic Values (in thousands) Outstanding as of April 1, 2024 1,979 4.68 — — Granted 375 4.31 — — Exercised (161) 5.45 — — Forfeited (86) 5.14 — — Outstanding as of December 31, 2024 2,107 4.54 6.84 $ 4,496 Vested as of December 31, 2024 1,807 4.58 6.41 $ 3,791 The fair value of each option grant on the date of grant is estimated using the Black-Scholes option-pricing model reflecting the following weighted-average assumptions: December 31, 2023 December 31, 2024 Expected volatility 55.6 % 60.2 % Expected life of options 6.1 6.5 Risk free interest rate 3.87 % 4.23 % Dividend yield — — Weighted-average fair value of options granted during the year $1.66 $2.66 Expected volatility is based on historical volatility of the Company’s common stock and the expected life of options is based on historical data with respect to employee exercise periods. The Company recorded stock-based compensation expense of $728 and $2,094 for the three- and nine-month periods ended December 31, 2023, respectively, and $479 and $2,884 for the three- and nine-month periods ended December 31, 2024, respectively, in connection with awards made under the stock option plans. The increase in the recognized expense is due to the approved acceleration of vesting of unvested restricted stock and stock option awards with time-based vesting conditions that were outstanding under the Powerfleet equity plans (including any inducement awards with time-based vesting) in connection with the closing of the MiX Combination. The accelerated vesting of the Company’s equity awards is not part of what was acquired in the MiX Combination, nor what was paid for in the MiX Combination, because it was for the benefit of the Company’s employees rather than for the benefit of MiX Telematics’ employees. Therefore, the acceleration of the equity awards was treated as a separate transaction from the MiX Combination and the acceleration of vesting was accounted for immediately upon closing of the MiX Combination on April 2, 2024. The fair value of options vested during the nine-month periods ended December 31, 2023 and 2024 was $391 and $1,652, respectively. There were no option exercises that occurred during the nine-month periods ended December 31, 2023 and 2024. As of December 31, 2024, there was $782 of total unrecognized compensation costs related to unvested options granted under the Company’s stock option plans excluding the market-based stock options that were granted to certain senior managers, including the Company’s executive officers. That cost is expected to be recognized over a weighted-average period of 1.09 years. As of December 31, 2024, there was $2,644 of total unrecognized compensation costs related to unvested options granted under the Company’s stock option plans for the market-based stock options that were granted to certain senior managers, including the Company’s executive officers. That cost is expected to be recognized over a weighted-average period of 2.11 years. The Company estimates forfeitures at the time of valuation and reduces expenses ratably over the vesting period. This estimate is adjusted periodically based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimate. [B] Restricted Stock Awards: The Company grants restricted stock to employees, whereby the employees are contractually restricted from transferring the shares until they are vested. The stock is unvested at the time of grant, and, upon vesting, there are no legal restrictions on the stock. Some participants have the option to have their shares withheld for their taxes upon vesting. Shares withheld for taxes are treated as a purchase of treasury stock. The fair value of each share is based on the Company’s closing stock price on the date of the grant. A summary of all unvested restricted stock for the nine-month period ended December 31, 2024 is as follows: Number of Unvested Shares Weighted- Average Unvested, March 31, 2024 1,370 2.68 Granted 54 5.45 Vested/Exercised (1,370) 2.68 Forfeited or expired — — Unvested, December 31, 2024 54 5.45 The Company recorded stock-based compensation expenses of $395 and $982 for the three- and nine-month periods ended December 31, 2023, respectively, and $74 and $3,240 for the three- and nine-month periods ended December 31, 2024, respectively, in connection with restricted stock grants. As of December 31, 2024, there was $109 of total unrecognized compensation cost related to unvested shares. That cost is expected to be recognized over a weighted-average period of 0.37 years. The increase in the recognized expense is due to the approved acceleration of vesting of unvested restricted stock and stock option awards with time-based vesting conditions that are outstanding under the Powerfleet equity plans (including any inducement awards with time-based vesting) in connection with the closing of the MiX Combination. The accelerated vesting of the Company’s equity awards is not part of what was acquired in the MiX Combination, nor what was paid for in the MiX Combination because it was for the benefit of the Company’s employees rather than for the benefit of MiX Telematics’ employees. Therefore, the acceleration of the equity awards was treated as a separate transaction from the MiX Combination and the acceleration of vesting was accounted for immediately upon closing of the MiX Combination on April 2, 2024. [C] Stock Appreciation Rights: In connection with the closing of the MiX Combination, the Company assumed each of MiX Telematics’ share plans. MiX Telematics issued equity-classified share incentives under the MiX Telematics Long-Term Incentive Plan (“LTIP”) to directors and certain key employees within the Company. The LTIP provides for three types of grants to be issued, namely performance shares, restricted share units and stock appreciation rights (“SARs”). On the Implementation Date, the only issued and outstanding equity awards under the LTIP were SARs, and the Company assumed the outstanding SARs in issue. No additional performance shares or restricted share units will be issued or assumed by the Company. The replacement of MiX Telematics’ share-based payment awards has been treated as a modification under ASC 718, Compensation—Stock Compensation as of the Implementation Date. The fair value of the replacement SARs issued was allocated between pre-combination and post-combination service based on the vesting period. The fair value related to pre-combination service is included as part of the fair value of the consideration in the MiX Combination (see Note 3), and the fair value related to post-combination service is to be recognized as an expense over the remaining vesting period. The total stock-based compensation expense recognized during the three- and nine-month periods ended December 31, 2024 was $637 and $2,289, respectively. The following table summarizes the activities for the outstanding SARs: Number of SARs Weighted- Weighted Average Contractual Remaining Term (years) Aggregate Intrinsic Values (in thousands) Outstanding as of April 1, 2024 — — Acquired through MiX Combination 5,740 2.61 Granted — — Exercised (1,343) 2.96 Forfeited (498) 2.43 Outstanding as of December 31, 2024 3,899 2.51 3.10 Vested as of December 31, 2024 1,293 2.92 1.80 $ 4,847 As of December 31, 2024, there was $6,211 of unrecognized compensation cost related to unvested SARs. This amount is expected to be recognized over a weighted-average period of 2.86 years.

NET LOSS PER SHARE

NET LOSS PER SHARE	9 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE Net loss per share for the three- and nine-month periods ended December 31, 2023 and 2024 are as follows: Three Months Ended December 31, Nine Months Ended December 31, 2023 2024 2023 2024 Basic and diluted loss per share Net loss attributable to common stockholders $ (6,510) $ (14,349) $ (19,190) $ (38,573) Net loss per share attributable to common stockholders - basic and diluted $ (0.18) $ (0.11) $ (0.54) $ (0.33) Weighted-average common share outstanding - basic and diluted 35,706 132,189 35,655 115,650

SHORT-TERM BANK DEBT AND LONG-T

SHORT-TERM BANK DEBT AND LONG-TERM DEBT	9 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
SHORT-TERM BANK DEBT AND LONG-TERM DEBT	SHORT-TERM BANK DEBT AND LONG-TERM DEBT March 31, December 31, 2024 Short-term bank debt $ — $ 30,412 Current maturities of long-term debt $ 1,951 $ 4,184 Long-term debt - less current maturities $ 113,810 $ 233,750 Short-Term Bank Debt As of December 31, 2024, short-term debt comprised $30,180 of borrowing facilities and $232 of book overdrafts . RMB Facility On March 7, 2024, as part of the MiX Combination, MiX Telematics and Powerfleet entered into the Facilities Agreement with RMB. Following the signing of the Facilities Agreement, MiX Telematics entered into a Facility Notice and General Terms and Conditions (the “Credit Agreement”) with RMB on March 14, 2024 for a 364-day committed general banking facility of R350,000 (the equivalent of $18,673 as at December 31, 2024 ) (the “RMB General Facility”). The Credit Agreement and the rights and obligations of the parties are subject to the terms and conditions of the Facilities Agreement entered into on March 7, 2024, which is described in more detail below. The RMB General Facility is repayable on demand and has a term of 365 days from the Available Date (as defined therein). Repayment of the RMB General Facility, including capitalized interest, is due by the earlier of (a) the Available Date or (b) April 2, 2025, unless extended by agreement between MiX Telematics and RMB. Interest rate for the RMB General Facility is calculated at South African prime rate As of December 31, 2024, $15,944 of the RMB General Facility was utilized. Hapoalim Debt As of December 31, 2024, Powerfleet Israel Ltd. (“Powerfleet Israel”) had utilized approximately $14,236 under the Hapoalim Revolving Facilities, which are described below . Long-Term Debt Hapoalim Debt In connection with the Pointer acquisition, Powerfleet Israel incurred New Israeli Shekels (“NIS”) denominated debt in term loan borrowings on October 3, 2019 under a Credit Agreement (the “Prior Credit Agreement”) with Bank Hapoalim B.M. (“Hapoalim”), pursuant to which Hapoalim agreed to provide Powerfleet Israel with two senior secured term loan facilities in an initial aggregate principal amount of $30,000 (composed of two facilities in the aggregate principal amount of $20,000 and $10,000, respectively and a five-year revolving credit facility to Pointer denominated in NIS in an initial aggregate principal amount of $10,000 (collectively, the “Prior Credit Facilities”). The Prior Credit Facilities were scheduled to mature on October 3, 2024. On March 18, 2024, Powerfleet Israel and Pointer (collectively, the “Borrowers”) entered into an amended and restated credit agreement (as amended, the “A&R Credit Agreement”), which refinanced the facilities under, and amended and restated, the Prior Credit Agreement. The A&R Credit Agreement provides for (i) two senior secured term loan facilities denominated in NIS to Powerfleet Israel in an aggregate principal amount of $30,000 (composed of two facilities in the aggregate principal amounts of $20,000 and $10,000, respectively) (“Hapoalim Facility A” and “Hapoalim Facility B,” respectively, and, collectively, the “Hapoalim Term Facilities”) and (ii) two revolving credit facilities to Pointer in an aggregate principal amount of $20,000 (composed of two revolvers in the aggregate principal amounts of $10,000 and $10,000, respectively) (“Hapoalim Facility C” and “Hapoalim Facility D,” respectively, and, collectively, the “Hapoalim Revolving Facilities” and, together with the Hapoalim Term Facilities, the “Hapoalim Credit Facilities”). Powerfleet Israel drew down $30,000 in cash under the Hapoalim Term Facilities on March 18, 2024 and used the proceeds to prepay approximately $11,200, representing the remaining outstanding balance, of the Prior Credit Facilities, with the remaining proceeds distributed to Powerfleet. The proceeds of the Hapoalim Revolving Facilities may be used by Pointer for general corporate purposes, including working capital and capital expenditures. On December 30, 2024, the Borrowers entered into an amendment to the A&R Credit Agreement, which increases the principal amount available under Hapoalim Facility D from $10,000 to $20,000 and provides that the total principal amount of Hapoalim Facility D may be distributed to the Company or any of its subsidiaries by no later than December 31, 2025, subject to certain terms and conditions of the A&R Credit Agreement. As of December 31, 2024, Pointer had utilized $14,236 under the Hapoalim Revolving Facilities. The available undrawn facility balance at December 31, 2024 was $15,764. The interest rates for borrowings under Hapoalim Facility A and Hapoalim Facility B are Hapoalim’s prime rate + 2.2% per annum, and Hapoalim’s prime rate + 2.3% per annum, respectively. Hapoalim’s prime rate at December 31, 2024 was 6% . Interest is payable quarterly on March 25, June 25, September 25, and December 25 over five years. The first interest period ended on June 25, 2024. Hapoalim Facility A amortizes in quarterly installments over its five-year term and will be payable in the following aggregate annual amounts: (i) 10% of the principal amount of Hapoalim Facility A from March 18, 2024 until March 18, 2025, (ii) 25% of the principal amount of Hapoalim Facility A from March 18, 2025 until March 18, 2026, (iii) 27.5% of the principal amount of Hapoalim Facility A from March 18, 2026 until March 18, 2027, (iv) 27.5% of the principal amount of Hapoalim Facility A from March 18, 2027 until March 18, 2028, and (v) 10% of the principal amount of Hapoalim Facility A from March 18, 2028 until March 18, 2029. Hapoalim Facility B does not amortize and will be payable in full on March 18, 2029. The interest rate for borrowings under Hapoalim Facility C is, with respect to NIS-denominated loans, Hapoalim’s prime rate + 2.5%, and with respect to U.S. dollar-denominated loans, SOFR + 2.15%. Borrowings under Hapoalim Facility D will bear interest at the applicable interest rate set forth in the standard form documents entered into in connection with each utilization of Hapoalim Facility D. In addition, Pointer is required to pay a credit allocation fee in NIS, with respect to Hapoalim Facility C, and a non-utilization fee in U.S. dollars, with respect to Hapoalim Facility D, in each case, equal to 0.5% per annum on undrawn and uncancelled amounts of the revolving facilities during the period commencing on March 18, 2024 and ending on the last day of the applicable availability period of such revolving facilities. The Borrowers have also paid certain upfront fees and other fees and expenses to Hapoalim in connection with the A&R Credit Agreement. The Hapoalim Revolving Facilities mature on March 18, 2025. Borrowings under the Hapoalim Term Facilities are voluntarily prepayable at any time, in whole or in part, and are not subject to any prepayment premium. Voluntary prepayments of the Hapoalim Term Facilities must be made in minimum increments of NIS 1 million. In addition to certain customary mandatory prepayment requirements, the A&R Credit Agreement also requires Powerfleet Israel to make prepayments on the Hapoalim Term Facilities to the extent it receives distributions from Pointer, except for any such distributions made to cover certain expenses of Powerfleet Israel in its normal course of operations. The A&R Credit Agreement contains certain customary affirmative and negative covenants, including financial covenants with respect to Pointer’s net debt levels which must be less than 100% of Working Capital as defined in the A&R Credit Agreement, the ratio of each Borrower’s net debt to Pointer’s EBITDA must not exceed 4.75, Powerfleet Israel’s minimum equity which must not be less than $60,000, and the ratio of Powerfleet Israel’s equity to its total assets which must be greater than 35% and the ratio of Pointer’s net debt to EBITDA ratio must not exceed 2. The occurrence of any event of default under the A&R Credit Agreement may result in all outstanding indebtedness under the Hapoalim Credit Facilities becoming immediately due and payable. The financial covenants have been met for the quarter ending December 31, 2024. The Hapoalim Credit Facilities continue to be secured by first ranking and exclusive fixed and floating charges, including by Powerfleet Israel over the entire share capital of Pointer and by Pointer over all of its assets, as well as cross guarantees between Powerfleet Israel and Pointer, except that the Borrowers’ holdings in Pointer do Brasil Comercial Ltda., Pointer Argentina and Pointer South Africa are excluded from such floating charges. No other assets of the Company will serve as collateral under the Hapoalim Credit Facilities. The Hapoalim Term Facilities under the A&R Credit Agreement have been accounted for as modifications of the term facilities that were provided under the Prior Credit Agreement because the change in the present value of the cash flows under the A&R Credit Agreement is less than 10% of the present value of the cash flows under the Prior Credit Agreement. The proceeds of the Hapoalim Term Facilities ($40,000), less the prepayment of the term loans under the Prior Credit Facility (approximately $11,200), amounting to approximately $28,800, has been recognized as an increase in the carrying value of the prior term loans that was recognized previously. For the three- and nine-month periods ended December 31, 2023, the Company recorded $26 and $90, respectively, of additional deferred costs to the original debt issuance costs and the refinancing fee paid to Hapoalim. For the three-month period ended December 31, 2024, the Company recorded $22 of amortization of the original debt issuance costs and the refinancing fee paid to Hapoalim. For the nine-month period ended December 31, 2024, the Company recorded a cost of $7 net of additional deferred costs and credit to the original debt issuance costs and amortization of the original debt issuance costs. The Company recorded charges of $127 and $412 to interest expense on its consolidated statements of operations for the three- and nine-month periods ended December 31, 2023, respectively, and $592 and $1,838 for the three- and nine-month periods ended December 31, 2024, respectively, related to interest expense associated with the Hapoalim debt. RMB Debt On March 7, 2024, the Company entered into the Facilities Agreement with RMB, pursuant to which RMB agreed to provide the Company with two term loan facilities in an aggregate principal amount of $85,000, composed of Facility A and Facility B, each with a principal amount of $42,500 (“RMB Facility A” and “RMB Facility B,” respectively, and collectively, the “RMB Facilities”). The Company drew down $85,000 in cash under the RMB Facilities on March 13, 2024, and the proceeds to redeem all the outstanding shares of the Series A Preferred Stock and for general corporate purposes. The RMB Facilities are guaranteed by the Company, I.D. Systems and Movingdots GmbH (“Movingdots”), and there is a security agreement over the shares in Main Street 2000 Proprietary Limited (“MS2000”), I.D. Systems, and Movingdots. The interest rates of borrowings under RMB Facility A and RMB Facility B are 8.699% per annum and 8.979% per annum, respectively. Interest is payable quarterly in arrears. RMB Facility A matures on March 31, 2027, and RMB Facility B matures on March 31, 2029. The Company may prepay the RMB Facilities at any time, subject to a minimum reduction of $5,000 and multiples of $1,000. If the Company prepays any amount during the first or second annual period of the funding, a refinancing fee equal to 2% or 1%, respectively, of the prepayment will be payable. Also, the RMB Facilities are mandatorily prepayable upon the occurrence of uncertain future events, such as a change of control or a transfer of the business. In the event that either prepayment occurs, the respective prepayment amount will be adjusted for RMB’s break gains or losses, which relate mainly to the unwinding of interest rate derivatives (the “Prepayment Derivative”) which RMB entered into with third parties to fix the interest rates on the RMB Facilities. Since RMB’s break gains/losses could result in the Company prepaying at a discount, or a premium, of 10% or more to the initial carrying amount of the RMB Facilities, the optional and contingent repayment features were to be embedded derivatives in the scope of ASC 815-15 Embedded Derivatives. The Prepayment Derivative within each RMB Facility has been bifurcated and accounted for at fair value separately from the respective debt-host contracts which are accounted for at amortized cost. The terms of the debt-host contracts have been bifurcated to adjust the carrying value of the debt upon separating the derivative. Upon initial recognition of the RMB Facilities, a Prepayment Derivative asset of $610 and $1,616 for RMB Facility A and RMB Facility B, respectively, was recognized with a corresponding increase in the initial carrying amount of each debt-host contract. The fair value of the embedded derivative is estimated using a “with-and-without” approach as the difference between the value of the RMB Facilities with and without the embedded derivative using both the binomial lattice model and discounted cash flow analysis. The following key assumptions were used in December 31, 2024: Facility A Facility B Credit spread volatility 45 % 35 % Credit spread 4.48 % 4.99 % Credit rating B B Risk free rate SOFR spot rate SOFR spot rate As of March 31, 2024 and December 31, 2024, the Secured Overnight Financing Rate ( SOFR . The Prepayment Derivative is classified as a Level 3 in the fair value hierarchy due to the use of at least one significant unobservable input which is the credit spread volatility . At inception, the credit spread was an observable input based on the transaction price of the debt; however, in future periods, it will also be an unobservable input. For the Prepayment Derivative asset in RMB Facility A, a change of -10% in credit spread volatility would result in a decrease in the derivative asset of $86, while a change of +10% in credit spread volatility would result in an increase in the derivative asset of $88. For the Prepayment Derivative asset in RMB Facility B, a change of -10% in credit spread volatility would result in a decrease in the derivative asset of $148, while a change of +10% in credit spread volatility would result in an increase in the derivative asset of $187. The Prepayment Derivative assets are included in Other assets and their fair values were $610 and $1,616 for RMB Facility A and RMB Facility B, respectively, as of March 31, 2024 and, $795 and $1,906 for RMB Facility A and RMB Facility B, respectively, as of December 31, 2024. The debt-host contracts are accounted for at amortized cost. Total debt issuance costs of appr oximately $1,000 were incurred. For the three- and nine-month periods ended December 31, 2024, the Company recorded $33 and $179 , respectively, of amortization of the original debt issuance costs and the refinancing fee to RMB. For the three- and nine-month periods ended December 31, 2024, the Company recorded interest expense of $1,920 and $5,710, respectively. RMB Term Facility On September 27, 2024, the Company, together with I.D. Systems and Movingdots, each a wholly owned subsidiary of the Company, entered into a Facility Agreement (the “Facility Agreement”) with RMB, pursuant to which RMB agreed to provide the Company with a term loan facility in an aggregate principal amount of $125,000 (the “New RMB Term Facility”). The Company drew down the full amount of the New RMB Term Facility on October 1, 2024, and used the proceeds to pay a portion of the Purchase Price in connection with the FC Acquisition. The Company’s obligations under the New RMB Term Facility are guaranteed, on a joint and several basis, by the Company, I.D. Systems and Movingdots. The New RMB Term Facility is secured by a first priority security interest over the entire share capital of I.D. Systems, Movingdots, MS2000 and Canadian SPV, each a wholly owned subsidiary of the Company. No other assets of the Company will serve as collateral under the New RMB Term Facility. The New RMB Term Facility will mature on the last business day of the month that is five years following the closing date of the Facility Agreement (the “Maturity Date”). The New RMB Term Facility does not amortize and will be payable on the Maturity Date. Borrowings under the New RMB Term Facility may be voluntarily prepaid at any time upon prior written notice, in whole or in part, subject to payment of a refinancing fee equal to (i) 2% of the amount prepaid if such prepayment occurs before October 1, 2025, or (ii) 1% of the amount prepaid if such prepayment occurs on or after October 1, 2025, but before October 1, 2026. No refinancing fee is payable if prepayment occurs on or after October 1, 2026. If voluntary prepayments are made in part, they must be made in minimum amounts of $5 million in integral multiples of $1 million. In addition, the Facility Agreement provides for certain customary mandatory prepayment requirements. In the event of any prepayment during a quarterly interest period the Company is also required to pay, or receive from, RMB an amount, such that RMB would be in the same economic position for that interest period had the prepayment only occurred at the end of such period. The amount payable or receivable will be calculated relative to the interest that RMB would be able to obtain by placing the amount prepaid on deposit with a leading bank in the London interbank market for a period from the prepayment until the end of such interest period. The New RMB Term Facility bears interest at 5% per annum (provided no event of default is continuing), plus the applicable term SOFR reference rate (or an interpolated rate if SOFR is unavailable), payable quarterly in arrears on March 31, June 30, September 30, and December 31 each year, and on October 31, 2029. The stated interest rate at December 31, 2024 was 9.59%. The Company paid a non-refundable deal structuring fee of $1,250 to RMB on October 1, 2024. Total debt issuance costs, including the $1,250 non-refundable deal structuring fee to RMB, of approximately $1,433 were incurred. For the three- and nine-month periods ended December 31, 2024, the Company recorded $56 and $56, respectively of amortization of these costs. For the three- and nine-month periods ended December 31, 2024, the Company recorded $3,031 and $3,031, respectively, of interest expense. The Facility Agreement contains certain customary affirmative and negative covenants, including financial covenants with respect to the ratio of the Company’s consolidated total net borrowings to consolidated EBITDA and the ratio of the Company’s consolidated EBITDA to consolidated total finance costs. The Facility Agreement also includes representations, warranties, events of default and other provisions customary for financings of this type. The occurrence of any event of default under the Facility Agreement may result in all outstanding indebtedness under the RMB Term Facility becoming immediately due and payable. Scheduled contractual maturities of the long-term debt as of December 31, 2024 are as follows: 2025 (remaining) $ 501 2026 5,008 2027 48,009 2028 5,509 2029 54,520 Thereafter 125,000 238,547 Less: Current portion (4,184) Less debt costs and prepayment (613) Total $ 233,750

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	9 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consist of the following (in thousands): March 31, December 31, Accounts payable $ 20,025 $ 41,916 Accrued warranty 1,138 1,460 Accrued compensation 8,956 25,600 Government authorities 3,062 11,590 Other current liabilities 827 5,915 $ 34,008 $ 86,481 The following table summarizes warranty activity for the nine months ended December 31, 2023 and 2024 (in thousands): Nine Months Ended December 31, 2023 2024 Accrued warranty reserve, beginning of year $ 2,255 $ 2,926 Accrual for product warranties issued 851 255 Product replacements and other warranty expenditures (343) (372) Expiration of warranties (over warranty accrual) (110) (127) Acquired through MiX Combination and FC Acquisition — 845 Foreign currency translation difference — 108 Accrued warranty reserve, end of period (1) $ 2,653 $ 3,635 (1) Includes non-current accrued warranty included in other long-term liabilities at December 31, 2023 and 2024 of $1,688 and $2,175, respectively.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Dec. 31, 2024
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY Convertible Redeemable Preferred Stock: The Company is authorized to issue 150 shares of preferred stock, par value $0.01 per share of which 100 shares are designated Series A Preferred Stock and 50 shares are undesignated. Series A Preferred Stock In connection with the completion of the Pointer acquisition, on October 3, 2019, the Company issued 50 shares of Series A Preferred Stock to ABRY Senior Equity V, L.P., ABRY Senior Equity Co-Investment Fund V, L.P and ABRY Investment Partnership, L.P. (the “Investors”). Concurrently with the closing of the MiX Combination on April 2, 2024, the Company used the net proceeds received from RMB and from incremental borrowing capacity as a result of the refinancing of credit facilities with Hapoalim to redeem in full for $90,300 for all of the outstanding shares of the Series A Preferred Stock. Dividends Holders of Series A Preferred Stock were entitled to receive cumulative dividends at a minimum rate of 7.5% per annum (calculated on the basis of the Series A Issue Price), quarterly in arrears. The dividends were payable at the Company’s election, in kind, through the issuance of additional shares of Series A Preferred Stock, or in cash, provided no dividend payment failure had occurred and was continuing and that there had not previously occurred two or more dividend payment failures. Commencing on the 66-month anniversary of the date on which any shares of Series A Preferred Stock were first issued (the “Original Issuance Date”), and on each monthly anniversary thereafter, the dividend rate would increase by 100 basis points, until the dividend rate reached 17.5% per annum, subject to the Company’s right to defer the increase for up to three consecutive months on terms set forth in the Company’s Amended and Restated Certificate of Incorporation (the “Charter”). During the three- and nine-month periods ended December 31, 2023, the Company paid dividends in amounts equal to $1,129 and $3,385 , respectively, to the holders of the Series A Preferred Stock, and $25 during the nine-month period ended December 31, 2024. Dividends for the period ended March 31, 2024, plus accrued dividends through April 2, 2024, were paid in cash on the redemption date of the Series A Preferred Stock.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Dec. 31, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Comprehensive loss includes net loss and foreign currency translation gains and losses. The accumulated balances for each classification of other comprehensive loss for the nine-month period ended December 31, 2024 are as follows (in thousands): Foreign currency translation adjustment Accumulated other comprehensive loss Balance at April 1, 2024 $ (985) $ (985) Net current period change (6,593) (6,593) Balance at December 31, 2024 $ (7,578) $ (7,578) The accumulated balances for each classification of other comprehensive loss for the nine-month period ended December 31, 2023 are as follows (in thousands): Foreign currency translation adjustment Accumulated other comprehensive loss Balance at April 1, 2023 $ (1,098) $ (1,098) Net current period change 482 482 Balance at December 31, 2023 $ (616) $ (616)

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company operates in one reportable segment, wireless AIoT asset management. The following table summarizes revenues by geographic region (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2023 2024 2023 2024 North America $ 19,649 $ 41,440 $ 56,628 $ 83,837 Israel 9,865 12,232 31,017 34,643 Africa 828 25,416 2,498 73,994 Europe and Middle East 660 13,004 1,689 30,047 Australia — 9,290 — 20,851 Other 3,548 5,047 9,052 15,505 $ 34,550 $ 106,429 $ 100,884 $ 258,877 March 31, December 31, 2024 Long lived assets by geographic region: North America $ 4,083 $ 10,388 Israel 3,946 2,692 Africa 705 31,710 Europe and Middle East 2,850 5,763 Australia — 895 Other 1,135 3,809 $ 12,719 $ 55,257

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company records its interim tax provision based upon a projection of the Company’s annual effective tax rate (“AETR”). This AETR is applied to the year-to-date consolidated pre-tax income to determine the estimated interim provision for income taxes before discrete items. The Company updates the AETR on a quarterly basis as the pre-tax income projections are revised and tax laws are enacted. The effective tax rate (“ETR”) each period is impacted by a number of factors, including the relative mix of domestic and foreign earnings and adjustments to recorded valuation allowances. The currently forecasted ETR may vary from the actual year-end due to the changes in these factors. Three Months Ended December 31, Nine Months Ended December 31, 2023 2024 2023 2024 Domestic pre-tax book loss $ (4,915) $ (6,839) $ (19,535) $ (30,451) Foreign pre-tax book income (expense) 1,352 (3,998) 9,449 (3,260) Total loss before income taxes (3,563) (10,837) (10,086) (33,710) Income tax benefit (expense) 92 (3,513) (197) (4,821) Net loss before non-controlling interest $ (3,471) $ (14,350) $ (10,283) $ (38,531) Effective tax rate 2.58 % (32.42) % (1.95) % (14.30) % For the three- and nine-month periods ended December 31, 2023 and 2024, the effective tax rate differed from the statutory tax rates primarily due to the mix of domestic and foreign earnings amongst taxable jurisdictions, recorded valuation allowances to fully reserve against deferred tax assets in jurisdictions, and certain discrete items.

LEASES

LEASES	9 Months Ended
	Dec. 31, 2024
Leases [Abstract]
LEASES	LEASES The Company determines whether an arrangement is a lease at inception. The Company has operating leases for office space, office equipment and vehicles. The Company’s leases have remaining lease terms of 1 year to 5 years, some of which include options to extend the lease term for up to 5 years. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and operating lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. The operating lease ROU asset also includes any lease payments made in advance of lease commencement and excludes lease incentives. The lease terms used in the calculations of the operating ROU assets and operating lease liabilities include options to extend or terminate the lease when the Company is reasonably certain that it will exercise those options. Lease expense for lease payments is recognized on a straight-line basis over the lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company has lease agreements with lease and non-lease components, which are generally not accounted for separately. Where lease terms are 12-months or less, and meet the criteria for short-term lease classification, no ROU asset and no lease liability are recognized. Lease costs associated with the short-term leases are included in selling, general and administrative expenses on the Company’s condensed consolidated statements of operations. The components of lease cost are as follows (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2023 2024 2023 2024 Short-term lease cost $ 127 $ 158 $ 365 $ 593 Supplemental cash flow information and non-cash activity related to the Company’s operating leases are as follows (in thousands): Nine Months Ended December 31, 2023 2024 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 937 $ 2,836 Reduction of right-of-use assets due to MiX Combination (1) $ — $ (952) (1) Subsequent to the MiX Combination, certain leases were terminated or modified due to the consolidation of leased space. Weighted-average remaining lease term and discount rate for our operating leases are as follows: December 31, Weighted-average remaining lease term - operating leases (in years) (1) 3.07 Weighted-average discount rate 7.9 % (1) Including expected renewals where appropriate. Scheduled maturities of operating lease liabilities outstanding as of December 31, 2024 are as follows (in thousands): January 2025 - March 2025 $ 2,302 2026 4,423 2027 2,828 2028 1,941 2029 1,451 Thereafter 2,360 Total lease payments 15,305 Less: Imputed interest (2,274) Present value of lease payments $ 13,031

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The Company’s cash and cash equivalents, restricted cash and investments in securities are carried at fair value. The carrying value of finance lease receivables approximates fair value due to the interest rate implicit in the instruments approximating current market rates. The carrying value of accounts receivable, accounts payable and accrued liabilities and short-term bank debt approximates their fair values due to the short period to maturity of these instruments. The fair value of the loans to external parties included in other non-current assets is determined using unobservable market data (Level 3 inputs), that represent management ’ s estimate of current interest rates that a commercial lender would charge borrower s. The fair value of the Company’s debt is based on observable relevant market information and future cash flows discounted at current rates, which are Level 2 measurements. The Prepayment Derivative within the RMB Facilities is classified as a Level 3 in the fair value hierarchy due to the use of at least one significant unobservable input which is the credit spread volatility (see Note 13). March 31, 2024 December 31, 2024 Carrying Amount Fair Value Carrying Amount Fair Value Loans to external parties $ 475 $ 475 $ 191 $ 191 Debt $ 115,761 $ 116,278 $ 268,346 $ 270,180 Prepayment derivative $ 2,226 $ 2,226 $ 2,732 $ 2,732

CONCENTRATION OF CUSTOMERS

CONCENTRATION OF CUSTOMERS	9 Months Ended
	Dec. 31, 2024
Risks and Uncertainties [Abstract]
CONCENTRATION OF CUSTOMERS	CONCENTRATION OF CUSTOMERS For the three- and nine-month periods ended December 31, 2023 and 2024, there were no customers that generated revenues greater than 10% of the Company’s consolidated total revenues or generated greater than 10% of the Company’s consolidated accounts receivable.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES From time to time, the Company is involved in various litigation matters involving claims incidental to its business and acquisitions, including employment matters, acquisition-related claims, patent infringement and contractual matters, among other issues. While the outcome of any such litigation matters cannot be predicted with certainty, management currently believes that the outcome of these proceedings, including the matters described below, either individually or in the aggregate, will not have a material adverse effect on its business, results of operations or financial condition. The Company records reserves related to legal matters when losses related to such litigation or contingencies are both probable and reasonably estimable. In August 2014, Pointer do Brasil Comercial Ltda. (“Pointer Brazil”) received a notification of lack of payment of VAT tax (Brazilian ICMS tax) in the amount of $171 plus $946 of interest and penalty, totaling $1,347 as of March 31, 2024 and $1,117 as of December 31, 2024. The Company is vigorously defe nding this tax assessment before the administrative court in Brazil, but in light of the administrative and judicial processes in Brazil, it could take up to 14 years before the dispute is finally resolved. In case the administrative court rules against the Company, the Company could claim before the judicial court, an appellate court in Brazil, a substantial reduction of interest charged, potentially reducing the Company’s total exposure. The Company’s legal counsel is of the opinion that the chance of loss is not probable and for this reason the Company has not made any provision. In July 2015, Pointer Brazil received a tax deficiency notice alleging that th e services provided by Pointer Brazil should be classified as “telecommunication services” and therefore Pointer Brazil should be subject to the state value-added tax. The aggregate amount claimed to be owed under the notice was approximately $6,405 as of December 31, 2024. On August 14, 2018, the lower chamber of the State Tax Administrative Court in São Paulo rendered a decision that was favorable to Pointer Brazil in relation to the ICMS demands, but adverse in regards to the clerical obligation of keeping in good order a set of ICMS books and related tax receipts. The remaining claim after this administrative decision is $183. The state has appealed to the higher chamber of the State Tax Administrative Court. The Company’s legal counsel is of the opinion that the chance of loss is not probable and that no material costs will arise in respect to these claims. For this reason, the Company has not m ade any provision. Mobile Telephone Networks Proprietary Limited (“MTN”), a network service provider of MiX Telematics Africa, a subsidiary of the Company, is entitled to claw back payments from MiX Telematics Africa in the event of early cancellation of the agreement or certain base connections not being maintained over the term of an amended network services agreement between the parties. No connection incentive s will be received in terms of the amended network services agreement. The maximum potential liability under the arrangement as of March 31, 2024 and December 31, 2024 was $841 and $661, respectively. No loss is consider ed probable under this arrangement. On August 30, 2024, Fleet Connect Solutions LLC (“Fleet Connect”) filed a complaint against the Company in the United States District Court for the Eastern District of Texas alleging infringement of a number of Fleet Connect’s patents. The Company filed an answer to Fleet Connect’s complaint on November 8, 2024, denying the claims together with counterclaims to invalidate Fleet Connect’s patents. The Company simultaneously filed a Section 101 motion seeking to invalidate some of the patents. The Company is evaluating the claims with patent counsel, however based on currently available information, the Company is unable to make a reasonable estimate of loss or range of losses, if any, arising from this matter.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Dec. 31, 2024
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which requires additional operating segment disclosures in annual and interim consolidated financial statements. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and for interim periods beginning after December 15, 2024 on a retrospective basis, with early adoption permitted. The Company is evaluating the effect of adopting ASU 2023-07. In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation and modifies other income tax-related disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 on a retrospective or prospective basis. The Company is evaluating the effect of adopting ASU 2023-09. In November 2024, the FASB issued Accounting Standards Update No. 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ” (“ASU 2024-03”), which requires disclosure in a tabular format, on an annual and interim basis, purchases of inventory, employee compensation, depreciation, intangible asset amortization and depletion for each income statement line item that contains those expenses. The guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, on a retrospective or prospective basis . Early adoption is permitted. The Company is evaluating the effect of adopting ASU 2024-3.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (14,349)	$ (3,503)	$ (38,548)	$ (10,321)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

DESCRIPTION OF THE COMPANY AN_2

DESCRIPTION OF THE COMPANY AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Preparation	Basis of Preparation
USE OF ESTIMATES	USE OF ESTIMATES The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such management estimates include, but are not limited to, assumptions used in business combinations, allowance for credit losses, income taxes, realization of deferred tax assets, accounting for uncertain tax positions, the impairment of intangible assets, including goodwill and long-lived assets, capitalized software development costs, standalone selling prices (“SSP”), valuation of the derivative asset, and market-based stock-based compensation costs. Actual results could differ materially from those estimates and assumptions made.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which requires additional operating segment disclosures in annual and interim consolidated financial statements. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and for interim periods beginning after December 15, 2024 on a retrospective basis, with early adoption permitted. The Company is evaluating the effect of adopting ASU 2023-07. In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation and modifies other income tax-related disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 on a retrospective or prospective basis. The Company is evaluating the effect of adopting ASU 2023-09. In November 2024, the FASB issued Accounting Standards Update No. 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ” (“ASU 2024-03”), which requires disclosure in a tabular format, on an annual and interim basis, purchases of inventory, employee compensation, depreciation, intangible asset amortization and depletion for each income statement line item that contains those expenses. The guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, on a retrospective or prospective basis . Early adoption is permitted. The Company is evaluating the effect of adopting ASU 2024-3.

ACQUISITION (Tables)

ACQUISITION (Tables)	9 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Consideration Transferred, the Assets Acquired and Resulting Deferred Tax	The estimated fair value of the consideration transferred for MiX Telematics was $369,823 as of the Implementation Date, which consisted of the following: (in thousands, except for share price and exchange ratio) April 2, Number of MiX Telematics ordinary shares outstanding 554,021 Exchange ratio 0.12762 Shares of Powerfleet common stock issued for MiX Telematics ordinary shares outstanding 70,704 Powerfleet stock price* 5.12 Fair value of Powerfleet common stock transferred to MiX Telematics shareholders 362,005 Replacement of acquiree’s equity awards by the acquirer** 7,818 Total fair value of preliminary consideration 369,823 * Powerfleet’s closing share price on April 2, 2024. ** The portion of the fair-value-based measure of the replacement award that is part of the consideration transferred in exchange for the acquiree equals the portion of the acquiree award that is attributable to pre-combination vesting. The preliminary estimated fair value of the consideration transferred for the FC Acquisition was $189,950 as of the FC Closing Date, which consisted of the following: (in thousands, except for share price) October 1, 2024 Shares of Powerfleet common stock issued 4,286 Powerfleet stock price* 4.98 Fair value of Powerfleet common stock transferred 21,343 Cash consideration to former shareholders 16,225 Repayment of Fleet Complete’s existing debt 152,382 Total fair value of preliminary consideration 189,950 * Powerfleet’s closing share price on October 1, 2024.
Schedule of Preliminary Allocation of Purchase Price	The preliminary allocation of purchase price was as follows (in thousands): April 2, Assets acquired: Cash and cash equivalents $ 26,737 Restricted cash 794 Accounts receivable, net 24,250 Inventory, net 4,142 Prepaid expenses and other current assets 8,886 Fixed assets, net 35,587 Intangible assets, net 153,000 Right-of-use asset 3,794 Deferred tax assets 1,093 Other assets 973 Total assets acquired $ 259,256 Liabilities assumed: Short-term bank debt and current maturities of long-term debt $ 20,158 Accounts payable and accrued expenses 26,400 Deferred revenue - current 6,394 Lease liability - current 859 Income taxes payable 355 Lease liability - less current portion 2,852 Deferred tax liability 48,725 Other long-term liabilities 484 Total liabilities assumed $ 106,227 Total identifiable net assets acquired $ 153,029 Non-controlling interest (5) Goodwill 216,799 Purchase price consideration $ 369,823 The preliminary allocation of purchase price was as follows (in thousands): October 1, 2024 Assets acquired: Cash and cash equivalents $ 3,964 Accounts receivable, net 19,990 Inventory, net 6,598 Prepaid expenses and other current assets 9,144 Fixed assets, net 3,693 Intangible assets, net 101,261 Identifiable intangible assets acquired 99,000 Computer software 2,261 Right-of-use asset 2,823 Deferred tax assets 1,897 Other assets 4,555 Total assets acquired $ 153,925 Liabilities assumed: Accounts payable and accrued expenses 30,857 Deferred revenue - current 3,088 Lease liability - current 2,965 Deferred revenue - less current portion 1,118 Lease liability - less current portion 75 Accrued severance payable 216 Other long-term liabilities 405 Total liabilities assumed $ 38,724 Total identifiable net assets acquired $ 115,201 Goodwill 74,749 Purchase price consideration $ 189,950
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The following table sets forth the fair values of the components of the identifiable intangible assets acquired and their estimated useful lives: (in thousands) Fair value Weighted average useful lives Trade name $ 10,000 14 years Developed technology 30,000 5 years Customer relationships 113,000 13 years $ 153,000 The following table sets forth preliminary estimated fair values of the components of the identifiable intangible assets acquired and their estimated useful lives: (in thousands) Fair value Weighted average useful lives Trade name $ 4,000 4.5 years Developed technology 25,000 5.5 years Customer relationships 70,000 9.5 years $ 99,000

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated by revenue source for the three and nine months ended December 31, 2023 and 2024 (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2023 2024 2023 2024 Products $ 12,916 $ 24,687 $ 37,232 $ 63,718 Services 21,634 81,742 63,652 195,159 $ 34,550 $ 106,429 $ 100,884 $ 258,877
Schedule of Contract with Customer, Contract Asset, Contract Liability	The balances of contract assets and contract liabilities from contracts with customers are as follows as of March 31, 2024 and December 31, 2024 (in thousands): March 31, 2024 December 31, 2024 Contract Assets: Deferred contract cost (1) $ 2,632 $ 4,702 Deferred costs - current $ 42 $ 6 Contract Liabilities Deferred revenue – services (2) $ 10,674 $ 20,952 Deferred revenue – products (2) 60 909 10,734 21,861 Less: Deferred revenue – current (5,842) (17,912) Deferred revenue – less current portion $ 4,892 $ 3,949 (1) Deferred Contract costs are included in Other assets on the condensed consolidated balance sheets. (2) The Company records deferred revenues when cash payments are received or due in advance of the Company’s performance. For the three-month periods ended December 31, 2023 and 2024, the Company recognized revenue of $914 and $5,605, respectively, which was included in the deferred revenue balance at the beginning of each reporting period. For the nine-month periods ended December 31, 2023 and 2024, the Company recognized revenue of $3,832 an d $9,863, respectively, which was included in the deferred revenue balance at the beginning of each reporting period. The Company expects to recognize as revenue through year 2029, when it transfers those goods and services and, therefore, satisfies its performance obligation to the customers.

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	9 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Schedule of Allowance for Credit Loss	An analysis of the allowance for credit losses for the periods ended December 31, 2023 and 2024 is as follows (in thousands): Nine Months Ended December 31, 2023 2024 Allowance for credit losses, March 31 $ 2,328 $ 3,197 Adjustment for adoption of ASU 2016-13 (200) — Current period provision for expected credit losses 1,339 7,229 Write-offs charged against the allowance (959) (4,880) Foreign currency translation 289 (63) Allowance for credit losses, December 31 $ 2,797 $ 5,483

PREPAID EXPENSES AND OTHER AS_2

PREPAID EXPENSES AND OTHER ASSETS (Tables)	9 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets comprise the following (in thousands): March 31, December 31, Sales-type lease receivables, current $ 1,100 $ 1,096 Prepaid expenses* 2,817 8,787 Contract assets 1,162 6,306 Tax receivables 125 837 VAT receivable — 5,177 Sundry debtors — 2,999 Other current assets 2,887 253 $ 8,091 $ 25,455 *This includes the prepaid portion of total deferred contract assets.

INVENTORY (Tables)

INVENTORY (Tables)	9 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following (in thousands): March 31, December 31, Components $ 9,403 $ 10,434 Work in process 49 44 Finished goods, net 12,206 17,507 $ 21,658 $ 27,985

FIXED ASSETS (Tables)

FIXED ASSETS (Tables)	9 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Fixed Assets	Fixed assets are stated at cost, less accumulated depreciation and amortization, and are summarized as follows (in thousands): March 31, December 31, 2024 Installed and uninstalled products $ 11,030 $ 52,506 Computer software 11,496 13,456 Computer and electronic equipment 6,179 7,252 Furniture and fixtures 2,361 3,882 Leasehold improvements 1,498 1,420 Plant and equipment — 275 Assets in progress — 22 32,564 78,813 Accumulated depreciation and amortization (19,845) (23,556) $ 12,719 $ 55,257

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	9 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table summarizes identifiable intangible assets of the Company as of March 31, 2024 and December 31, 2024 (in thousands): December 31, 2024 Useful Lives (In Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized: Customer relationships 9 - 13 $ 202,264 $ (17,592) $ 184,672 Trademark and tradename 3 - 15 21,562 (5,229) 16,333 Patents 7 - 11 628 (531) 97 Technology 5 - 7 72,769 (17,549) 55,220 Software to be sold or leased 3 - 7 8,423 (1,516) 6,907 305,646 (42,417) 263,229 Unamortized: Customer list 104 — 104 Trademark and tradename 63 — 63 167 — 167 Total $ 305,813 $ (42,417) $ 263,396 March 31, 2024 Useful Lives (In Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized: Customer relationships 9 - 12 $ 19,264 $ (8,012) $ 11,252 Trademark and tradename 3 - 15 7,553 (3,877) 3,676 Patents 7 - 11 628 (464) 164 Technology 7 10,911 (10,911) — Software to be sold or leased 3 5,159 (764) 4,395 43,515 (24,028) 19,487 Unamortized: Customer list 104 — 104 Trademark and tradename 61 — 61 165 — 165 Total $ 43,680 $ (24,028) $ 19,652
Schedule of Indefinite-Lived Intangible Assets	The following table summarizes identifiable intangible assets of the Company as of March 31, 2024 and December 31, 2024 (in thousands): December 31, 2024 Useful Lives (In Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized: Customer relationships 9 - 13 $ 202,264 $ (17,592) $ 184,672 Trademark and tradename 3 - 15 21,562 (5,229) 16,333 Patents 7 - 11 628 (531) 97 Technology 5 - 7 72,769 (17,549) 55,220 Software to be sold or leased 3 - 7 8,423 (1,516) 6,907 305,646 (42,417) 263,229 Unamortized: Customer list 104 — 104 Trademark and tradename 63 — 63 167 — 167 Total $ 305,813 $ (42,417) $ 263,396 March 31, 2024 Useful Lives (In Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized: Customer relationships 9 - 12 $ 19,264 $ (8,012) $ 11,252 Trademark and tradename 3 - 15 7,553 (3,877) 3,676 Patents 7 - 11 628 (464) 164 Technology 7 10,911 (10,911) — Software to be sold or leased 3 5,159 (764) 4,395 43,515 (24,028) 19,487 Unamortized: Customer list 104 — 104 Trademark and tradename 61 — 61 165 — 165 Total $ 43,680 $ (24,028) $ 19,652
Schedule of Estimated Future Amortization Expense	Estimated future amortization expense for each of the five succeeding fiscal years for these intangible assets is as follows: 2025 (remaining) $ 10,265 2026 33,926 2027 33,612 2028 32,251 2029 31,093 Thereafter 122,082 $ 263,229

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Options	The following table summarizes the activity relating to the Company’s market-based stock options for the nine-month period ended December 31, 2024: Options Weighted- Weighted Average Contractual Remaining Term (years) Aggregate Intrinsic Values (in thousands) Outstanding as of April 1, 2024 5,445 13.39 — — Granted — — — — Exercised — — — — Forfeited (50) 3.13 — — Outstanding as of December 31, 2024 5,395 13.48 7.21 $ 4,414 Vested as of December 31, 2024 — — — $ — The following table summarizes the activity relating to the Company’s stock options, excluding the market-based stock options, for the nine-month period ended December 31, 2024: Options Weighted- Weighted Average Contractual Remaining Term (years) Aggregate Intrinsic Values (in thousands) Outstanding as of April 1, 2024 1,979 4.68 — — Granted 375 4.31 — — Exercised (161) 5.45 — — Forfeited (86) 5.14 — — Outstanding as of December 31, 2024 2,107 4.54 6.84 $ 4,496 Vested as of December 31, 2024 1,807 4.58 6.41 $ 3,791
Schedule of Fair Value Valuation Assumptions	The fair value of each option grant on the date of grant is estimated using the Black-Scholes option-pricing model reflecting the following weighted-average assumptions: December 31, 2023 December 31, 2024 Expected volatility 55.6 % 60.2 % Expected life of options 6.1 6.5 Risk free interest rate 3.87 % 4.23 % Dividend yield — — Weighted-average fair value of options granted during the year $1.66 $2.66
Schedule of Restricted Stock Activity	A summary of all unvested restricted stock for the nine-month period ended December 31, 2024 is as follows: Number of Unvested Shares Weighted- Average Unvested, March 31, 2024 1,370 2.68 Granted 54 5.45 Vested/Exercised (1,370) 2.68 Forfeited or expired — — Unvested, December 31, 2024 54 5.45
Schedule of Unvested SARs Activities	The following table summarizes the activities for the outstanding SARs: Number of SARs Weighted- Weighted Average Contractual Remaining Term (years) Aggregate Intrinsic Values (in thousands) Outstanding as of April 1, 2024 — — Acquired through MiX Combination 5,740 2.61 Granted — — Exercised (1,343) 2.96 Forfeited (498) 2.43 Outstanding as of December 31, 2024 3,899 2.51 3.10 Vested as of December 31, 2024 1,293 2.92 1.80 $ 4,847

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	9 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share Basic and Diluted	Net loss per share for the three- and nine-month periods ended December 31, 2023 and 2024 are as follows: Three Months Ended December 31, Nine Months Ended December 31, 2023 2024 2023 2024 Basic and diluted loss per share Net loss attributable to common stockholders $ (6,510) $ (14,349) $ (19,190) $ (38,573) Net loss per share attributable to common stockholders - basic and diluted $ (0.18) $ (0.11) $ (0.54) $ (0.33) Weighted-average common share outstanding - basic and diluted 35,706 132,189 35,655 115,650

SHORT-TERM BANK DEBT AND LONG_2

SHORT-TERM BANK DEBT AND LONG-TERM DEBT (Tables)	9 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Short-Term Debt	March 31, December 31, 2024 Short-term bank debt $ — $ 30,412 Current maturities of long-term debt $ 1,951 $ 4,184 Long-term debt - less current maturities $ 113,810 $ 233,750
Schedule of Key Assumptions	The following key assumptions were used in December 31, 2024: Facility A Facility B Credit spread volatility 45 % 35 % Credit spread 4.48 % 4.99 % Credit rating B B Risk free rate SOFR spot rate SOFR spot rate As of March 31, 2024 and December 31, 2024, the Secured Overnight Financing Rate ( SOFR .
Schedule of Contractual Maturities of Long-Term Debt	Scheduled contractual maturities of the long-term debt as of December 31, 2024 are as follows: 2025 (remaining) $ 501 2026 5,008 2027 48,009 2028 5,509 2029 54,520 Thereafter 125,000 238,547 Less: Current portion (4,184) Less debt costs and prepayment (613) Total $ 233,750

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	9 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	Accounts payable and accrued expenses consist of the following (in thousands): March 31, December 31, Accounts payable $ 20,025 $ 41,916 Accrued warranty 1,138 1,460 Accrued compensation 8,956 25,600 Government authorities 3,062 11,590 Other current liabilities 827 5,915 $ 34,008 $ 86,481
Schedule of Product Warranty Liability	The following table summarizes warranty activity for the nine months ended December 31, 2023 and 2024 (in thousands): Nine Months Ended December 31, 2023 2024 Accrued warranty reserve, beginning of year $ 2,255 $ 2,926 Accrual for product warranties issued 851 255 Product replacements and other warranty expenditures (343) (372) Expiration of warranties (over warranty accrual) (110) (127) Acquired through MiX Combination and FC Acquisition — 845 Foreign currency translation difference — 108 Accrued warranty reserve, end of period (1) $ 2,653 $ 3,635 (1) Includes non-current accrued warranty included in other long-term liabilities at December 31, 2023 and 2024 of $1,688 and $2,175, respectively.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The accumulated balances for each classification of other comprehensive loss for the nine-month period ended December 31, 2024 are as follows (in thousands): Foreign currency translation adjustment Accumulated other comprehensive loss Balance at April 1, 2024 $ (985) $ (985) Net current period change (6,593) (6,593) Balance at December 31, 2024 $ (7,578) $ (7,578) The accumulated balances for each classification of other comprehensive loss for the nine-month period ended December 31, 2023 are as follows (in thousands): Foreign currency translation adjustment Accumulated other comprehensive loss Balance at April 1, 2023 $ (1,098) $ (1,098) Net current period change 482 482 Balance at December 31, 2023 $ (616) $ (616)

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Revenues and Long Lived Assets by Geographical Region	The Company operates in one reportable segment, wireless AIoT asset management. The following table summarizes revenues by geographic region (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2023 2024 2023 2024 North America $ 19,649 $ 41,440 $ 56,628 $ 83,837 Israel 9,865 12,232 31,017 34,643 Africa 828 25,416 2,498 73,994 Europe and Middle East 660 13,004 1,689 30,047 Australia — 9,290 — 20,851 Other 3,548 5,047 9,052 15,505 $ 34,550 $ 106,429 $ 100,884 $ 258,877 March 31, December 31, 2024 Long lived assets by geographic region: North America $ 4,083 $ 10,388 Israel 3,946 2,692 Africa 705 31,710 Europe and Middle East 2,850 5,763 Australia — 895 Other 1,135 3,809 $ 12,719 $ 55,257

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Before Income Tax Domestic and Foreign	Three Months Ended December 31, Nine Months Ended December 31, 2023 2024 2023 2024 Domestic pre-tax book loss $ (4,915) $ (6,839) $ (19,535) $ (30,451) Foreign pre-tax book income (expense) 1,352 (3,998) 9,449 (3,260) Total loss before income taxes (3,563) (10,837) (10,086) (33,710) Income tax benefit (expense) 92 (3,513) (197) (4,821) Net loss before non-controlling interest $ (3,471) $ (14,350) $ (10,283) $ (38,531) Effective tax rate 2.58 % (32.42) % (1.95) % (14.30) %

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Components of Lease Cost	The components of lease cost are as follows (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2023 2024 2023 2024 Short-term lease cost $ 127 $ 158 $ 365 $ 593
Schedule of Cash Flow Information and Non Cash Activity of Operating Leases	Supplemental cash flow information and non-cash activity related to the Company’s operating leases are as follows (in thousands): Nine Months Ended December 31, 2023 2024 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 937 $ 2,836 Reduction of right-of-use assets due to MiX Combination (1) $ — $ (952) (1) Subsequent to the MiX Combination, certain leases were terminated or modified due to the consolidation of leased space.
Schedule of Weighted Average Remaining Lease Term and Discount Rate	Weighted-average remaining lease term and discount rate for our operating leases are as follows: December 31, Weighted-average remaining lease term - operating leases (in years) (1) 3.07 Weighted-average discount rate 7.9 % (1) Including expected renewals where appropriate.
Schedule Maturities of Operating Lease Liabilities	Scheduled maturities of operating lease liabilities outstanding as of December 31, 2024 are as follows (in thousands): January 2025 - March 2025 $ 2,302 2026 4,423 2027 2,828 2028 1,941 2029 1,451 Thereafter 2,360 Total lease payments 15,305 Less: Imputed interest (2,274) Present value of lease payments $ 13,031

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Instruments	March 31, 2024 December 31, 2024 Carrying Amount Fair Value Carrying Amount Fair Value Loans to external parties $ 475 $ 475 $ 191 $ 191 Debt $ 115,761 $ 116,278 $ 268,346 $ 270,180 Prepayment derivative $ 2,226 $ 2,226 $ 2,732 $ 2,732

DESCRIPTION OF THE COMPANY AN_3

DESCRIPTION OF THE COMPANY AND BASIS OF PRESENTATION (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net loss attributable to common stockholders	$ (14,349)	$ (1,888)	$ (22,337)	$ (6,510)	$ (6,510)	$ (6,171)	$ (38,573)	$ (19,190)
Additional paid-in capital	669,492						669,492		$ 202,607
Cash including restricted cash and cash equivalents	38,645			$ 19,332			38,645	$ 19,332	$ 109,664	$ 25,089
Working capital	$ 30,506						$ 30,506
Adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net loss attributable to common stockholders					(1,667)	(1,604)
Additional paid-in capital					$ (1,667)	$ (1,604)

ACQUISITION - Narrative (Detail

ACQUISITION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended	9 Months Ended
	Oct. 01, 2024	Sep. 30, 2024	Apr. 02, 2024	Mar. 13, 2024	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2024
Private Placement
Business Acquisition [Line Items]
Sale of stock, consideration received on transaction	$ 8,000	$ 62,000
Sale of stock, number of shares issued in transaction (in shares)	20,000
Sale of stock, price per share (in dollars per share)	$ 3.50
Sale of stock, gross consideration received on transaction	$ 70,000
Private Placement | Scenario, Plan
Business Acquisition [Line Items]
Sale of stock, consideration received on transaction	60,000
RMB Facilities
Business Acquisition [Line Items]
Proceeds from lines of credit				$ 85,000
RMB Facilities | Senior Notes
Business Acquisition [Line Items]
Proceeds from lines of credit	125,000
MiX Telematics
Business Acquisition [Line Items]
Percentage of top 20 institutional investor (percent)			9%
Total percentage of shares held by shareholders			65%
Powerfleet Israel Ltd.
Business Acquisition [Line Items]
Percentage of top 20 institutional investor (percent)			30%
MiX Telematics
Business Acquisition [Line Items]
Voting rights			35%
Acquisition-related costs					$ 128	$ 14,771	$ 20,571
Pro forma net (loss) profit					1,098	(3,827)
Total fair value of preliminary consideration			$ 369,823
Pro forma revenue					42,818	130,332
MiX Telematics | MiX Telematics
Business Acquisition [Line Items]
Voting rights			65.50%
Fleet Complete
Business Acquisition [Line Items]
Acquisition-related costs					4,032	5,299
Pro forma net (loss) profit					838	(20,597)
Total fair value of preliminary consideration	189,950
Sale of stock, working capital	$ 10,000
Pro forma revenue					$ 29,937	$ 90,318

ACQUISITION - Schedule of Estim

ACQUISITION - Schedule of Estimated Fair Value of the Consideration Transferred (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Oct. 01, 2024	Apr. 02, 2024	Dec. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Powerfleet stock price (in dollars per share)	$ 4.98	$ 5.12	$ 2.66	$ 1.66
MiX Telematics
Business Acquisition [Line Items]
Number of MiX Telematics ordinary shares outstanding (in shares)		554,021
Exchange ratio		12.762%
Shares of Powerfleet common stock issued for MiX Telematics (in shares)		70,704
Total fair value of preliminary consideration		$ 369,823
MiX Telematics | Fair value of Powerfleet common stock transferred to MiX Telematics shareholders
Business Acquisition [Line Items]
Fair value of Powerfleet common stock transferred		362,005
MiX Telematics | Replacement Equity Awards
Business Acquisition [Line Items]
Replacement of acquiree's equity awards by the acquirer		$ 7,818
Fleet Complete
Business Acquisition [Line Items]
Shares of Powerfleet common stock issued for MiX Telematics (in shares)	4,286
Fair value of Powerfleet common stock transferred			$ 21,343	$ 0
Cash consideration to former shareholders	$ 16,225
Repayment of Fleet Complete’s existing debt	152,382
Total fair value of preliminary consideration	189,950
Fleet Complete | Fair value of Powerfleet common stock transferred to MiX Telematics shareholders
Business Acquisition [Line Items]
Fair value of Powerfleet common stock transferred	$ 21,343

ACQUISITION - Schedule of Consi

ACQUISITION - Schedule of Consideration Transferred, the Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Oct. 01, 2024	Apr. 02, 2024	Dec. 31, 2024	Mar. 31, 2024
Liabilities assumed:
Goodwill			$ 374,939	$ 83,487
MiX Telematics
Assets acquired:
Cash and cash equivalents		$ 26,737
Restricted cash		794
Accounts receivable, net		24,250
Inventory, net		4,142
Prepaid expenses and other current assets		8,886
Fixed assets, net		35,587
Identifiable intangible assets acquired		153,000
Right-of-use asset		3,794
Deferred tax assets		1,093
Other assets		973
Total assets acquired		259,256
Liabilities assumed:
Short-term bank debt and current maturities of long-term debt		20,158
Accounts payable and accrued expenses		26,400
Deferred revenue - current		6,394
Lease liability - current		859
Income taxes payable		355
Lease liability - less current portion		2,852
Deferred tax liability		48,725
Other long-term liabilities		484
Total liabilities assumed		106,227
Total identifiable net assets acquired		153,029
Non-controlling interest		(5)
Goodwill		216,799
Purchase price consideration		$ 369,823
Fleet Complete
Assets acquired:
Cash and cash equivalents	$ 3,964
Accounts receivable, net	19,990
Inventory, net	6,598
Prepaid expenses and other current assets	9,144
Fixed assets, net	3,693
Intangible assets, net	101,261
Identifiable intangible assets acquired	99,000
Computer software	2,261
Right-of-use asset	2,823
Deferred tax assets	1,897
Other assets	4,555
Total assets acquired	153,925
Liabilities assumed:
Accounts payable and accrued expenses	30,857
Deferred revenue - current	3,088
Lease liability - current	2,965
Deferred revenue - less current portion	1,118
Lease liability - less current portion	75
Accrued severance payable	216
Other long-term liabilities	405
Total liabilities assumed	38,724
Total identifiable net assets acquired	115,201
Goodwill	74,749
Purchase price consideration	$ 189,950

ACQUISITION - Schedule of Ident

ACQUISITION - Schedule of Identifiable Intangible Assets Acquired and Estimated Useful Lives (Details) - USD ($) $ in Thousands	Oct. 01, 2024	Apr. 02, 2024
MiX Telematics
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value		$ 153,000
MiX Telematics | Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value		$ 10,000
Weighted average useful lives		14 years
MiX Telematics | Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value		$ 30,000
Weighted average useful lives		5 years
MiX Telematics | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value		$ 113,000
Weighted average useful lives		13 years
Fleet Complete
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 99,000
Fleet Complete | Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 4,000
Weighted average useful lives	4 years 6 months
Fleet Complete | Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 25,000
Weighted average useful lives	5 years 6 months
Fleet Complete | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 70,000
Weighted average useful lives	9 years 6 months

CASH AND CASH EQUIVALENTS (Deta

CASH AND CASH EQUIVALENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Purchase Agreement and Certain Tax Liabilities
Restricted Cash and Cash Equivalents
Escrow deposit	$ 3,855
MiX Telematics Enterprise BEE Trust
Restricted Cash and Cash Equivalents
Cash	794
Facilities Agreement
Restricted Cash and Cash Equivalents
Escrow deposit		$ 85,000
Vendor Related Property
Restricted Cash and Cash Equivalents
Escrow deposit	310	$ 310
Lease Agreements
Restricted Cash and Cash Equivalents
Cash	$ 51

REVENUE RECOGNITION - Schedule

REVENUE RECOGNITION - Schedule of Disaggregated By Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Capitalized Contract Cost
Total revenues	$ 106,429	$ 34,550	$ 258,877	$ 100,884
Products
Capitalized Contract Cost
Total revenues	24,687	12,916	63,718	37,232
Services
Capitalized Contract Cost
Total revenues	$ 81,742	$ 21,634	$ 195,159	$ 63,652

REVENUE RECOGNITION - Schedul_2

REVENUE RECOGNITION - Schedule of Contract Assets and Contract Liabilities from Contracts With Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Mar. 31, 2024
Contract Assets:
Deferred contract cost	$ 4,702		$ 4,702		$ 2,632
Deferred costs - current	6		6		42
Contract Liabilities
Deferred revenue	21,861		21,861		10,734
Less: Deferred revenue – current	(17,912)		(17,912)		(5,842)
Deferred revenue – less current portion	3,949		3,949		4,892
Revenue	5,605	$ 914	9,863	$ 3,832
Service
Contract Liabilities
Deferred revenue	20,952		20,952		10,674
Product
Contract Liabilities
Deferred revenue	$ 909		$ 909		$ 60

ALLOWANCE FOR CREDIT LOSSES (De

ALLOWANCE FOR CREDIT LOSSES (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, March 31	$ 3,197	$ 2,328
Current period provision for expected credit losses	7,229	1,339
Write-offs charged against the allowance	(4,880)	(959)
Foreign currency translation	(63)	289
Allowance for credit losses, December 31	$ 5,483	2,797
Adjustment for adoption of ASU 2016-13
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, March 31		$ (200)

PREPAID EXPENSES AND OTHER AS_3

PREPAID EXPENSES AND OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Sales-type lease receivables, current	$ 1,096	$ 1,100
Prepaid expenses	8,787	2,817
Contract assets	6,306	1,162
Tax receivables	837	125
VAT receivable	5,177	0
Sundry debtors	2,999	0
Other current assets	253	2,887
Prepaid expenses and other current assets	$ 25,455	$ 8,091

INVENTORY - Narrative (Details)

INVENTORY - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventory valuation reserve	$ 758	$ 538

INVENTORY - Schedule of Invento

INVENTORY - Schedule of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Inventory Disclosure [Abstract]
Components	$ 10,434	$ 9,403
Work in process	44	49
Finished goods, net	17,507	12,206
Inventory, net	$ 27,985	$ 21,658

FIXED ASSETS - Schedule of Owne

FIXED ASSETS - Schedule of Owned Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Property, Plant and Equipment
Property, plant and equipment, gross	$ 78,813	$ 32,564
Accumulated depreciation and amortization	(23,556)	(19,845)
Property, plant and equipment, net, total	55,257	12,719
Installed and uninstalled products
Property, Plant and Equipment
Property, plant and equipment, gross	52,506	11,030
Computer software
Property, Plant and Equipment
Property, plant and equipment, gross	13,456	11,496
Computer and electronic equipment
Property, Plant and Equipment
Property, plant and equipment, gross	7,252	6,179
Furniture and fixtures
Property, Plant and Equipment
Property, plant and equipment, gross	3,882	2,361
Leasehold improvements
Property, Plant and Equipment
Property, plant and equipment, gross	1,420	1,498
Plant and equipment
Property, Plant and Equipment
Property, plant and equipment, gross	275	0
Assets in progress
Property, Plant and Equipment
Property, plant and equipment, gross	$ 22	$ 0

FIXED ASSETS - Narrative (Detai

FIXED ASSETS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation, depletion and amortization, nonproduction	$ 4,586	$ 1,200	$ 14,653	$ 2,838

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 305,646	$ 43,515
Accumulated Amortization	(42,417)	(24,028)
Net Carrying Amount	263,229	19,487
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	167	165
Gross Carrying Amount	305,813	43,680
Accumulated Amortization	(42,417)	(24,028)
Net Carrying Amount	263,396	19,652
Customer list
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	104	104
Trademark and tradename
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	63	61
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	202,264	19,264
Accumulated Amortization	(17,592)	(8,012)
Net Carrying Amount	184,672	11,252
Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (17,592)	$ (8,012)
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)	9 years	9 years
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)	13 years	12 years
Trademark and tradename
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 21,562	$ 7,553
Accumulated Amortization	(5,229)	(3,877)
Net Carrying Amount	16,333	3,676
Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (5,229)	$ (3,877)
Trademark and tradename | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)	3 years	3 years
Trademark and tradename | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)	15 years	15 years
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 628	$ 628
Accumulated Amortization	(531)	(464)
Net Carrying Amount	97	164
Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (531)	$ (464)
Patents | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)	7 years	7 years
Patents | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)	11 years	11 years
Technology
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)		7 years
Gross Carrying Amount	$ 72,769	$ 10,911
Accumulated Amortization	(17,549)	(10,911)
Net Carrying Amount	55,220	0
Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (17,549)	$ (10,911)
Technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)	5 years
Technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)	7 years
Software to be sold or leased
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)		3 years
Gross Carrying Amount	$ 8,423	$ 5,159
Accumulated Amortization	(1,516)	(764)
Net Carrying Amount	6,907	4,395
Indefinite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (1,516)	$ (764)
Software to be sold or leased | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)	3 years
Software to be sold or leased | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Lives (In Years)	7 years

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 8,966	$ 1,148	$ 18,389	$ 4,317
Customer relationships | Average
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	12 years 9 months 18 days		12 years 9 months 18 days
Trademark and tradename | Average
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	12 years 1 month 6 days		12 years 1 month 6 days
Patents | Average
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	7 years		7 years
Technology | Average
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	4 years 8 months 12 days		4 years 8 months 12 days
Software to be sold or leased | Average
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	5 years		5 years

INTANGIBLE ASSETS AND GOODWIL_4

INTANGIBLE ASSETS AND GOODWILL - Schedule of Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
2025 (remaining)	$ 10,265
2026	33,926
2027	33,612
2028	32,251
2029	31,093
Thereafter	122,082
Net Carrying Amount	$ 263,229	$ 19,487

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Time-based vesting
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)	0	0	375
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 479			$ 728	$ 2,884	$ 2,094
Total fair value of share options vested					1,652	391
Unrecognized compensation costs	782				$ 782
Expected period for recognition of unvested awards (in years)					1 year 1 month 2 days
Stock Options One
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized compensation costs	2,644				$ 2,644
Expected period for recognition of unvested awards (in years)					2 years 1 month 9 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	74			$ 395	$ 3,240	$ 982
Expected period for recognition of unvested awards (in years)					4 months 13 days
Unrecognized compensation to non-vested shares	109				$ 109
SARs
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	637				2,289
Unrecognized compensation costs	$ 6,211				$ 6,211
Expected period for recognition of unvested awards (in years)					2 years 10 months 9 days

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Dec. 31, 2024
Stock Options Including Market Based Stock
Options
Outstanding, beginning balance (in shares)	5,445
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	(50)
Outstanding, ending balance (in shares)	5,395
Vested (in shares)	0
Weighted- Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 13.39
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	3.13
Outstanding, ending balance (in dollars per share)	13.48
Vested (in dollars per share)	$ 0
Weighted average contractual remaining term, outstanding (in years)	7 years 2 months 15 days
Aggregate intrinsic value, outstanding	$ 4,414
Aggregate intrinsic value, vested	$ 0
Stock Options Excluding Market Based Stock
Options
Outstanding, beginning balance (in shares)	1,979
Granted (in shares)	375
Exercised (in shares)	(161)
Forfeited (in shares)	(86)
Outstanding, ending balance (in shares)	2,107
Vested (in shares)	1,807
Weighted- Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 4.68
Granted (in dollars per share)	4.31
Exercised (in dollars per share)	5.45
Forfeited (in dollars per share)	5.14
Outstanding, ending balance (in dollars per share)	4.54
Vested (in dollars per share)	$ 4.58
Weighted average contractual remaining term, outstanding (in years)	6 years 10 months 2 days
Weighted average contractual remaining term, vested (in years)	6 years 4 months 28 days
Aggregate intrinsic value, outstanding	$ 4,496
Aggregate intrinsic value, vested	$ 3,791

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of Fair Value Valuation Assumptions (Details) - $ / shares	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Oct. 01, 2024	Apr. 02, 2024
Share-Based Payment Arrangement [Abstract]
Expected volatility	60.20%	55.60%
Expected life of options	6 years 6 months	6 years 1 month 6 days
Risk free interest rate	4.23%	3.87%
Dividend yield	0%	0%
Weighted-average fair value of options granted during the year (in dollars per share)	$ 2.66	$ 1.66	$ 4.98	$ 5.12

STOCK-BASED COMPENSATION - Sc_3

STOCK-BASED COMPENSATION - Schedule of All Unvested Restricted Stock (Details) - RSUs	9 Months Ended
	Dec. 31, 2024 $ / shares shares
Number of Unvested Shares
Unvested as of beginning of period (in shares) | shares	1,370
Granted (in shares) | shares	54
Vested/Exercised (in shares) | shares	(1,370)
Forfeited or expired (in shares) | shares	0
Unvested as of end of period (in shares) | shares	54
Weighted- Average Grant Date Fair Value
Unvested as of beginning of period (in dollars per share) | $ / shares	$ 2.68
Granted (in dollars per share) | $ / shares	5.45
Vested/Exercised (in dollars per share) | $ / shares	2.68
Forfeited or expired (in dollars per share) | $ / shares	0
Unvested as of end of period (in dollars per share) | $ / shares	$ 5.45

STOCK-BASED COMPENSATION - Sc_4

STOCK-BASED COMPENSATION - Schedule of Activities for the Outstanding SARs (Details) - Stock Appreciation Rights $ / shares in Units, $ in Thousands	9 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Number of SARs
Outstanding, beginning balance (in shares) | shares	0
Acquired through MiX Combination (in shares) | shares	5,740
Granted (in shares) | shares	0
Exercised (in shares) | shares	(1,343)
Forfeited (in shares) | shares	(498)
Outstanding, ending balance (in shares) | shares	3,899
Vested (in shares) | shares	1,293
Weighted- Average Exercise Price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 0
Acquired through MiX Combination (in dollars per share) | $ / shares	2.61
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	2.96
Forfeited (in dollars per share) | $ / shares	2.43
Outstanding, ending balance (in dollars per share) | $ / shares	2.51
Vested (in dollars per share) | $ / shares	$ 2.92
Stock Options Additional Disclosures
Weighted average contractual remaining term, outstanding (in years)	3 years 1 month 6 days
Weighted average contractual remaining term, vested (in years)	1 year 9 months 18 days
Aggregate intrinsic values, vested | $	$ 4,847

NET LOSS PER SHARE - Schedule o

NET LOSS PER SHARE - Schedule of Net Loss Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Basic and diluted loss per share
Net loss attributable to common stockholders - basic	$ (14,349)	$ (1,888)	$ (22,337)	$ (6,510)	$ (6,510)	$ (6,171)	$ (38,573)	$ (19,190)
Net loss attributable to common stockholders - diluted	$ (14,349)			$ (6,510)			$ (38,573)	$ (19,190)
Net loss per share attributable to common stockholders - basic (in dollars per share)	$ (0.11)			$ (0.18)			$ (0.33)	$ (0.54)
Net loss per share attributable to common stockholders - diluted (in dollars per share)	$ (0.11)			$ (0.18)			$ (0.33)	$ (0.54)
Weighted-average common share outstanding - basic (in shares)	132,189			35,706			115,650	35,655
Weighted-average common share outstanding - diluted (in shares)	132,189			35,706			115,650	35,655

SHORT-TERM BANK DEBT AND LONG_3

SHORT-TERM BANK DEBT AND LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Debt Disclosure [Abstract]
Short-term bank debt	$ 30,412	$ 0
Current maturities of long-term debt	4,184	1,951
Long-term debt - less current maturities	$ 233,750	$ 113,810

SHORT-TERM BANK DEBT AND LONG_4

SHORT-TERM BANK DEBT AND LONG-TERM DEBT - Short-Term Bank Debt (Details) $ in Thousands	Mar. 14, 2024 USD ($)	Mar. 07, 2024	Dec. 31, 2024 USD ($)	Mar. 14, 2024 ZAR (R)
Line of Credit Facility
Borrowing facilities outstanding			$ 30,180
Book overdrafts			232
RMB Facility
Line of Credit Facility
Maximum borrowing capacity	$ 18,673
Debt instrument, variable interest rate, type		Prime Rate [Member]
Debt instrument, basis spread on variable rate		0.75%
Amount of facility utilized			15,944
Hapoalim Term Facilities | Powerfleet Israel Ltd.
Line of Credit Facility
Amount of facility utilized			$ 14,236
Line of Credit | RMB Facility
Line of Credit Facility
Credit facility, period	364 days
Maximum borrowing capacity | R				R 350,000,000

SHORT-TERM BANK DEBT AND LONG_5

SHORT-TERM BANK DEBT AND LONG-TERM DEBT - Long-Term Debt (Details) ₪ in Millions				3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 18, 2024 USD ($) loan	Mar. 13, 2024 USD ($)	Mar. 07, 2024 USD ($) loan	Dec. 31, 2024 USD ($) loan	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($) loan	Dec. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2024 ILS (₪) loan	Dec. 30, 2024 USD ($)	Dec. 29, 2024 USD ($)
Line of Credit Facility
Proceeds to prepay loan	$ 11,200,000
Line of Credit
Line of Credit Facility
Debt instrument, term						5 years
Debt instrument, basis spread on variable rate						6%
Revolving Credit Facility
Line of Credit Facility
Undrawn borrowing remaining				$ 15,764,000		$ 15,764,000
Pointer Telocation Ltd. | Revolving Credit Facility
Line of Credit Facility
Number of loans (loan) | loan	2
Aggregate principal amount	$ 20,000,000			10,000,000		$ 10,000,000
Debt instrument, term						5 years
Amount of facility utilized				$ 14,236,000		$ 14,236,000
Hapoalim Term Facilities
Line of Credit Facility
Proceeds from lines of credit	$ 30,000,000					40,000,000
Proceeds to prepay loan						$ 11,200,000
Equity to total assets, percentage				35%		35%			35%
Net debt to EBITDA ratio				2		2			2
Present value of cash flow maximum availability, percentage				10%		10%			10%
Increase in carrying amount						$ 28,800,000
Increase in deferred finance cost					$ 26,000	7,000	$ 90,000
Amortization of debt issuance costs				$ 22,000
Recorded interest expense				$ 592,000	$ 127,000	$ 1,838,000	$ 412,000
Hapoalim Term Facilities | Line of Credit
Line of Credit Facility
Minimum repayment amount | ₪									₪ 1
Hapoalim Term Facilities | Powerfleet Israel Ltd.
Line of Credit Facility
Number of loans (loan) | loan	2			2		2			2
Aggregate principal amount	$ 30,000,000			$ 30,000,000		$ 30,000,000
Amount of facility utilized				14,236,000		14,236,000
Minimum equity requirement				$ 60,000		$ 60,000
Hapoalim Term Facilities | Pointer Telocation Ltd.
Line of Credit Facility
Net debt levels, percentage				100%		100%			100%
EBITDA, maximum ratio				4.75		4.75			4.75
Term A Facility | Line of Credit
Line of Credit Facility
Debt instrument, basis spread on variable rate						2.20%
Term A Facility | Line of Credit | Period One
Line of Credit Facility
Principal amortization rate				10%		10%			10%
Term A Facility | Line of Credit | Period Two
Line of Credit Facility
Principal amortization rate				25%		25%			25%
Term A Facility | Line of Credit | Period Three
Line of Credit Facility
Principal amortization rate				27.50%		27.50%			27.50%
Term A Facility | Line of Credit | Period Four
Line of Credit Facility
Principal amortization rate				27.50%		27.50%			27.50%
Term A Facility | Line of Credit | Period Five
Line of Credit Facility
Principal amortization rate				10%		10%			10%
Term A Facility | Powerfleet Israel Ltd.
Line of Credit Facility
Aggregate principal amount	20,000,000			$ 20,000,000		$ 20,000,000
Term B Facility | Line of Credit
Line of Credit Facility
Debt instrument, basis spread on variable rate						2.30%
Term B Facility | Powerfleet Israel Ltd.
Line of Credit Facility
Aggregate principal amount	10,000,000			10,000,000		$ 10,000,000
Term C Facility | NIS-denominated loans
Line of Credit Facility
Debt instrument, basis spread on variable rate						2.50%
Term C Facility | U.S. dollar-denominated loans
Line of Credit Facility
Debt instrument, basis spread on variable rate						2.15%
Term C Facility | Pointer Telocation Ltd. | Revolving Credit Facility
Line of Credit Facility
Aggregate principal amount	$ 10,000,000
Term D Facility | Line of Credit
Line of Credit Facility
Interest rate	0.50%
Term D Facility | Powerfleet Israel Ltd. | Revolving Credit Facility
Line of Credit Facility
Undrawn borrowing remaining										$ 20,000,000	$ 10,000,000
Term D Facility | Pointer Telocation Ltd. | Revolving Credit Facility
Line of Credit Facility
Aggregate principal amount	$ 10,000,000
RMB Debt
Line of Credit Facility
Number of loans (loan) | loan			2
Aggregate principal amount			$ 85,000,000
Proceeds from lines of credit		$ 85,000,000
Minimum repayment amount			1,000,000
Amortization of debt issuance costs				33,000		$ 179,000
Recorded interest expense				1,920,000		$ 5,710,000
Subject to a minimum, reduction			$ 5,000,000
Prepayment at discount (premium)			10%
Debt issuance costs			$ 1,000,000
RMB Debt | Period One
Line of Credit Facility
First annual required prepayment, refinancing fee rate			2%
RMB Debt | Period Two
Line of Credit Facility
First annual required prepayment, refinancing fee rate			1%
RMB Facility A
Line of Credit Facility
Aggregate principal amount			$ 42,500,000
Debt instrument, basis spread on variable rate						4.49%		5.34%
Interest rate			8.699%
Loan prepayment derivative			$ 610,000	795,000		$ 795,000		$ 610,000
RMB Facility A | 10 Percent Decrease In Spread
Line of Credit Facility
Increase (decrease) in derivative assets			86,000
RMB Facility A | 10 Percent Increase In Spread
Line of Credit Facility
Increase (decrease) in derivative assets			88,000
RMB Facility B
Line of Credit Facility
Aggregate principal amount			$ 42,500,000
Debt instrument, basis spread on variable rate						4.49%		5.34%
Interest rate			8.979%
Loan prepayment derivative			$ 1,616,000	$ 1,906,000		$ 1,906,000		$ 1,616,000
RMB Facility B | 10 Percent Decrease In Spread
Line of Credit Facility
Increase (decrease) in derivative assets			148,000
RMB Facility B | 10 Percent Increase In Spread
Line of Credit Facility
Increase (decrease) in derivative assets			$ 187,000

SHORT-TERM BANK DEBT AND LONG_6

SHORT-TERM BANK DEBT AND LONG-TERM DEBT - RMB Term Facility (Details) - USD ($)		3 Months Ended	9 Months Ended
	Oct. 01, 2024	Dec. 31, 2024	Dec. 31, 2024	Sep. 27, 2024
New RMB Term Facility
Line of Credit Facility
Refinancing fee prepayment, minimum amount				$ 5,000,000
Refinancing fee prepayment, integral multiples amount				$ 1,000,000
Interest rate		9.59%	9.59%	5%
Payment for non-refundable deal structuring fee	$ 1,250,000
Debt issuance costs	$ 1,433,000
Amortization of debt issuance costs		$ 56,000	$ 56,000,000
Recorded interest expense		$ 3,031,000	$ 3,031,000
Period One | New RMB Term Facility
Line of Credit Facility
Refinancing fee payment, percentage				2%
Period Two | New RMB Term Facility
Line of Credit Facility
Refinancing fee payment, percentage				1%
RMB Term Facility
Line of Credit Facility
Aggregate principal amount				$ 125,000,000

SHORT-TERM BANK DEBT AND LONG_7

SHORT-TERM BANK DEBT AND LONG-TERM DEBT - Schedule of Key Assumptions (Details)	9 Months Ended	12 Months Ended
	Dec. 31, 2024	Mar. 31, 2024
RMB Facility A
Line of Credit Facility
Debt instrument, variable interest rate, type	Secured Overnight Financing Rate (SOFR) [Member]
Debt instrument, basis spread on variable rate	4.49%	5.34%
RMB Facility A | Credit spread volatility
Line of Credit Facility
Debt instrument, measurement input	0.45
RMB Facility A | Credit spread
Line of Credit Facility
Debt instrument, measurement input	0.0448
RMB Facility B
Line of Credit Facility
Debt instrument, variable interest rate, type		Secured Overnight Financing Rate (SOFR) [Member]
Debt instrument, basis spread on variable rate	4.49%	5.34%
RMB Facility B | Credit spread volatility
Line of Credit Facility
Debt instrument, measurement input	0.35
RMB Facility B | Credit spread
Line of Credit Facility
Debt instrument, measurement input	0.0499

SHORT-TERM BANK DEBT AND LONG_8

SHORT-TERM BANK DEBT AND LONG-TERM DEBT - Schedule of Contractual Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Debt Disclosure [Abstract]
2025 (remaining)	$ 501
2026	5,008
2027	48,009
2028	5,509
2029	54,520
Thereafter	125,000
Long-term debt	238,547
Less: Current portion	(4,184)	$ (1,951)
Less debt costs and prepayment	(613)
Total	$ 233,750	$ 113,810

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED EXPENSES - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Payables and Accruals [Abstract]
Accounts payable	$ 41,916	$ 20,025
Accrued warranty	1,460	1,138
Accrued compensation	25,600	8,956
Government authorities	11,590	3,062
Other current liabilities	5,915	827
Accounts payable and accrued expenses	$ 86,481	$ 34,008

ACCOUNTS PAYABLE AND ACCRUED _4

ACCOUNTS PAYABLE AND ACCRUED EXPENSES - Schedule of Product Warranty Liability (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease)
Accrued warranty reserve, beginning of year	$ 2,926	$ 2,255
Accrual for product warranties issued	255	851
Product replacements and other warranty expenditures	(372)	(343)
Expiration of warranties (over warranty accrual)	(127)	(110)
Acquired through MiX Combination and FC Acquisition	845	0
Foreign currency translation difference	108	0
Accrued warranty reserve, end of period	3,635	2,653
Accrued warranty	3,635	2,653
Other Noncurrent Liabilities
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease)
Accrued warranty reserve, end of period	2,175	1,688
Accrued warranty	$ 2,175	$ 1,688

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Apr. 02, 2024	Mar. 31, 2024	Oct. 03, 2019
Class of Stock
Preference shares, authorized (in shares)	50,000,000		50,000,000			50,000,000
Preferred stock, par value (in dollars per share)	$ 0.01		$ 0.01			$ 0.01
Preferred stock dividend	$ 0	$ (1,129)	$ (25)	$ (3,385)
Redeemable Preferred Stock
Class of Stock
Preference shares, authorized (in shares)	150,000		150,000
Preferred stock, par value (in dollars per share)	$ 0.01		$ 0.01
Series A Preferred Stock
Class of Stock
Preference shares, authorized (in shares)	100,000		100,000
Preference shares, issued (in shares)							50,000
Preferred stock redemption amount					$ 90,300
Dividend rate annual increase	1%		1%
Dividends			$ 25
Series A Preferred Stock | Minimum
Class of Stock
Preferred stock, dividend rate, percentage			7.50%
Series A Preferred Stock | Maximum
Class of Stock
Preferred stock, dividend rate, percentage			17.50%
Undesignated Preferred Stock
Class of Stock
Preference shares, authorized (in shares)	50,000		50,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Increase (Decrease) in Stockholders' Equity
Beginning balance	$ 38,636	$ 73,302
Net current period change	(6,593)	482
Ending balance	458,541	57,644
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity
Beginning balance	(985)	(1,098)
Ending balance	(7,578)	(616)
Foreign currency translation adjustment
Increase (Decrease) in Stockholders' Equity
Beginning balance	(985)	(1,098)
Net current period change	(6,593)	482
Ending balance	$ (7,578)	$ (616)

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			1
Revenues from External Customers and Long-Lived Assets
Total revenues	$ 106,429	$ 34,550	$ 258,877	$ 100,884
Long lived assets	55,257		55,257		$ 12,719
North America
Revenues from External Customers and Long-Lived Assets
Total revenues	41,440	19,649	83,837	56,628
Long lived assets	10,388		10,388		4,083
Israel
Revenues from External Customers and Long-Lived Assets
Total revenues	12,232	9,865	34,643	31,017
Long lived assets	2,692		2,692		3,946
Africa
Revenues from External Customers and Long-Lived Assets
Total revenues	25,416	828	73,994	2,498
Long lived assets	31,710		31,710		705
Europe and Middle East
Revenues from External Customers and Long-Lived Assets
Total revenues	13,004	660	30,047	1,689
Long lived assets	5,763		5,763		2,850
Australia
Revenues from External Customers and Long-Lived Assets
Total revenues	9,290	0	20,851	0
Long lived assets	895		895		0
Other
Revenues from External Customers and Long-Lived Assets
Total revenues	5,047	$ 3,548	15,505	$ 9,052
Long lived assets	$ 3,809		$ 3,809		$ 1,135

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income Before Income Tax Domestic and Foreign (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Domestic pre-tax book loss	$ (6,839)	$ (4,915)	$ (30,451)	$ (19,535)
Foreign pre-tax book income (expense)	(3,998)	1,352	(3,260)	9,449
Net loss before income taxes	(10,837)	(3,563)	(33,710)	(10,086)
Income tax benefit (expense)	(3,513)	92	(4,821)	(197)
Net loss before non-controlling interest	$ (14,350)	$ (3,471)	$ (38,531)	$ (10,283)
Effective tax rate (as a percent)	(32.42%)	2.58%	(14.30%)	(1.95%)

LEASES - Narrative (Details)

LEASES - Narrative (Details)	Dec. 31, 2024
Lessee, Lease, Description
Lease renewal term (in years)	5 years
Minimum
Lessee, Lease, Description
Remaining lease term (in years)	1 year
Maximum
Lessee, Lease, Description
Remaining lease term (in years)	5 years

LEASES - Schedule of Components

LEASES - Schedule of Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Short-term lease cost	$ 158	$ 127	$ 593	$ 365

LEASES - Schedule of Cash Flow

LEASES - Schedule of Cash Flow Information and Non Cash Activity of Operating Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$ 2,836	$ 937
Reduction of right-of-use assets due to MiX Combination	$ (952)	$ 0

LEASES - Schedule of Weighted A

LEASES - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Details)	Dec. 31, 2024
Leases [Abstract]
Weighted-average remaining lease term - operating leases (in years)	3 years 25 days
Weighted-average discount rate	7.90%

LEASES - Scheduled Maturities o

LEASES - Scheduled Maturities of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
January 2025 - March 2025	$ 2,302
2026	4,423
2027	2,828
2028	1,941
2029	1,451
Thereafter	2,360
Total lease payments	15,305
Less: Imputed interest	(2,274)
Present value of lease payments	$ 13,031

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024
Level 3 | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loans to external parties	$ 191	$ 475
Prepayment derivative	2,732	2,226
Level 3 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loans to external parties	191	475
Prepayment derivative	2,732	2,226
Level 2 | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt	268,346	115,761
Level 2 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt	$ 270,180	$ 116,278

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands		1 Months Ended	9 Months Ended
	Aug. 14, 2018	Aug. 31, 2014	Dec. 31, 2024	Mar. 31, 2024
Loss Contingencies [Line Items]
Damages sought value	$ 183
Maximum | Amended Network Service Agreement with MTN
Loss Contingencies [Line Items]
Estimate of possible loss			$ 661	$ 841
Pointer do Brasil Comercial Ltda
Loss Contingencies [Line Items]
Interest		$ 171
Penalty		$ 946
Total interest and penalty			1,117	$ 1,347
Loss contingency damages sought value			$ 6,405