Preliminary Results for First Quarter 2025 Ended June 30, 2024
Powerfleet anticipates reporting preliminary revenue for the first quarter of fiscal 2025 of approximately $75 million, representing an increase of 10% compared to the combined revenue of Powerfleet, Inc. and MiX Telematics Ltd. in the same period last year.
Additionally, preliminary pro forma adjusted EBITDA, a non-GAAP metric, is projected to exceed $13.5 million, exclusive of $14 million in one-time expenses, reflecting an increase of over 40% versus the combined adjusted EBITDA from the prior year's comparable period.
The preliminary pro forma net loss attributable to common stockholders for the first quarter of fiscal 2025 is expected to be approximately $23 million, inclusive of $21 million in transaction, restructuring, and other one-time costs and accelerated stock-based compensation.
As of June 30, 2024, the company held net debt of approximately $114 million, after accounting for $6 million in unsettled one-time transaction costs.
Powerfleet is increasing its full-year fiscal 2025 guidance, forecasting revenue now to exceed $300 million versus prior guidance of approximately $300 million and adjusted EBITDA to exceed $60 million, which includes an incremental $5 million in secured exit run-rate cost synergies, versus the prior guidance of approximately $60 million.
Powerfleet will reschedule and announce its first quarter 2025 reporting date and conference call as soon as practicable.