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Powerfleet Provides Business Update Ahead of Upcoming Craig-Hallum and William Blair Conferences

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Shares Preliminary Fiscal Year 2025 Results and Updated Fiscal 2026 Outlook
Fourth Quarter Fiscal 2025 Conference Call Set for Monday, June 16, 2025

WOODCLIFF LAKE, N.J., May 23, 2025 /PRNewswire/ — In advance of its participation in the 22nd Annual Craig-Hallum Institutional Investor Conference (May 28) and William Blair’s 45th Annual Growth Stock Conference (June 4), Powerfleet, Inc. (Nasdaq: AIOT) today provided a business update, including preliminary financial results for fiscal year 2025 and an initial outlook for fiscal 2026.

Preliminary Fiscal Year 2025 Results

Powerfleet expects to deliver strong full-year performance in line with, or ahead of, previously communicated guidance:

Total Revenue is expected to be approximately $362.5 million, an increase of +25% year-over-year, in line with previous guidance.Adjusted EBITDA is expected to be approximately $71 million, representing 65% growth year-over-year.During the year, the company realized $16 million in annual cost synergies, with $11 million of that benefit recognized within the fiscal year. Including the additional $5 million in fully realized run-rate synergies, proforma adjusted EBITDA is expected to be $76 million, exceeding prior base guidance of $75 million.Net adjusted debt is expected to be approximately $230 million, better than the previous guidance of $235 million.

“Fiscal 2025 was a milestone year,” said Steve Towe, Chief Executive Officer. “We delivered 65% adjusted EBITDA growth and 25% total revenue growth, inclusive of 7% organic growth, in our core business—clear proof of strong demand, disciplined execution, and the impact of our integration efforts. These results reflect the strength of our team and the solid progress we’re making on our strategic priorities.”

Fiscal Year 2026 Outlook

As the company enters FY26, Powerfleet continues to see strong underlying business momentum. Ongoing macroeconomic factors—including tariff-related pressures and extended customer decision cycles—make it difficult to provide precise FY26 guidance.

“While we recognize external headwinds, the fundamentals of our business are strong,” Towe continued. “We’re executing with discipline, delivering ahead of schedule on synergies, and scaling key growth drivers like Unity and our indirect channels. Demand remains solid, with growing cross-sell activity—giving us strong conviction in our trajectory and long-term value creation.”

With the understanding that there are more external variables than usual outside the company’s control, based on the current view of tariff impacts, and assuming conditions remain broadly stable from here, the following reflects a well-founded tempered outlook for FY26 performance:

Total Revenue growth in the range of 20% to 25%.The revenue base for calculating FY’26 growth rates is $352.5 million, reflecting a modest step down of approximately 3% to FY’25 revenue due to the previously disclosed U.S. GAAP accounting change related to the re-bundling of hardware sales for the legacy Fleet Complete business, effective April 2025, and the shutdown of legacy FSM revenueAdjusted EBITDA growth in the range of 45% to 55%.

Powerfleet remains confident in its long-term growth, driven by the rapid maturation of Unity’s device-agnostic platform and its expanding role in unifying customer operations. These capabilities provide clear competitive advantage and growing monetization potential across new and existing customers.

Once macroeconomic conditions and longer-term tariff impacts are fully understood, Powerfleet will look to issue formal FY26 guidance.

Management to Attend Upcoming Investor Conferences 

Management is scheduled to meet with investors at the following conferences:

The 22nd Annual Craig-Hallum Institutional Investor Conference on Wednesday, May 28thWilliam Blair’s 45th Annual Growth Stock Conference on Wednesday, June 4th, at 4:00pmCT and meeting with investors that day. The link to the live webcast will be available here or by visiting Powerfleet’s website at https://ir.powerfleet.com/events-presentations/events.

Fourth Quarter and Fiscal Year 2025 Conference Call to be Held on Monday, June 16, 2025 at 8:30am ET

Powerfleet will hold a conference call on Monday, June 16, 2025, at 8:30 a.m. Eastern time (5:30 a.m. Pacific time) to discuss results for the fourth quarter fiscal 2025 ended March 31, 2025. Financial results will be issued in a press release prior to the call.

Powerfleet management will host the presentation, followed by a question-and-answer session.

Date: Monday, June 16, 2025
Time: 8:30 a.m. Eastern time (5:30 a.m. Pacific time)
Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 539753

The conference call will be broadcast simultaneously and available for replay here and via the investor section of the company’s website at ir.powerfleet.com.

NON-GAAP FINANCIAL MEASURES 

To supplement its financial statements presented in accordance with Generally Accepted Accounting Principles (GAAP), Powerfleet provides certain non-GAAP measures of financial performance. These non-GAAP measures include adjusted EBITDA and net adjusted debt. Reference to these non-GAAP measures should be considered in addition to results prepared under current accounting standards, but are not a substitute for, or superior to, GAAP results. These non-GAAP measures are provided to enhance investors’ overall understanding of Powerfleet’s current financial performance. Specifically, Powerfleet believes the non-GAAP measures provide useful information to both management and investors by excluding certain expenses, gains and losses and fluctuations in currency rates that may not be indicative of its core operating results and business outlook. These non-GAAP measures are not measures of financial performance or liquidity under GAAP and, accordingly, should not be considered as an alternative to net income or total debt as an indicator of operating performance or liquidity. Because Powerfleet’s method for calculating the non-GAAP measures may differ from other companies’ methods, the non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Reconciliation of all non-GAAP measures included in this press release to the most directly comparable GAAP measures can be found in the financial tables included in this press release.

ABOUT POWERFLEET
Powerfleet (Nasdaq: AIOT) is a global leader in AI-powered data solutions that optimize mobile asset performance, safety, and sustainability. Powerfleet Unity’s cloud-based applications leverage advanced AI, machine learning, and IoT connectivity to provide mission-critical insights across industrial, logistics, and transportation sectors. Serving 48,000 customers across 120 countries, Powerfleet empowers businesses with data-driven intelligence to enhance safety, efficiency, and workforce productivity. For more information, visit www.powerfleet.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of federal securities laws. Powerfleet’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements may be identified by words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions.

These forward-looking statements include, without limitation, our expectations with respect to our beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions and future performance, as well as anticipated financial impacts of our transactions with MiX Telematics and Fleet Complete. Forward-looking statements involve significant known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. Most of these factors are outside our control and are difficult to predict. The risks and uncertainties referred to above include, but are not limited to, risks related to: (i) future economic and business conditions, including potential impacts of tariffs; (ii) integration of our, MiX Telematics’ and Fleet Complete’s businesses and the ability to recognize the anticipated synergies and benefits of the transactions with MiX Telematics and Fleet Complete; (iii) the loss of any of our key customers or reduction in the purchase of our products by any such customers; (iv) the failure of the markets for our products to continue to develop; (v) the negative effects of the transactions on the market price of our securities; (vi) our inability to adequately protect our intellectual property; (vii) our inability to manage growth; (viii) the effects of competition from a wide variety of local, regional, national and other providers of wireless solutions; and (ix) such other factors as are set forth in the periodic reports filed by us with the Securities and Exchange Commission (SEC), including but not limited to those described under the heading “Risk Factors” in our annual reports on Form 10-K, quarterly reports on Form 10-Q and any other filings made with the SEC from time to time, which are available via the SEC’s website at http://www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated by these forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.

The forward-looking statements included in this press release are made only as of the date of this press release, and except as otherwise required by applicable securities law, we assume no obligation, nor do we intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.

Powerfleet Investor Contacts
Carolyn Capaccio and Jody Burfening
Alliance Advisors IR
AIOTIRTeam@allianceadvisors.com

Powerfleet Media Contact
Jonathan Bates
Jonathan.bates@powerfleet.com 
+44 7921 242 892

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SOURCE Powerfleet

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Technology

The Discovery Point Difference: Choosing Center-Based VPK vs. Public School Programs

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June 15, 2026

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TAMPA, Fla., June 15, 2026 /PRNewswire/ — Parents of preschoolers now have many options in early childhood education. These may include half or full day private programs like church preschool or in childcare centers. When a child turns four, there are additional options including state funded PreK or a Voluntary Preschool Program (VPK) paid for with school vouchers.

State-funded programs are traditionally housed in childcare centers, but there are an increasing number of classrooms being offered at local public schools. How do parents know which option is best for their child?

At Discovery Point, children are not simply preparing for kindergarten; they are building a strong foundation in an environment intentionally designed just for them.

What Is Florida VPK?

Florida’s Voluntary Prekindergarten (VPK) Program provides free educational opportunities for eligible four-year-olds before they enter kindergarten. The goal of VPK is to help children develop the academic, social, emotional, and physical skills needed for future school success. Families can use their Florida VPK voucher at approved childcare centers, private preschools, and certain public-school programs.

As parents compare their options, it’s important to look beyond cost and convenience to evaluate the quality of the learning environment, teacher qualifications, safety procedures, and overall educational experience.

Why Families Choose Discovery Point Centers for VPK

Discovery Point’s Proprietary curriculum and in-center design is created for preschool aged children:

Caring, nurturing teachers specifically trained in Early Childhood Education.A secure campus designed for young children, with controlled access, structured supervision, and safety procedures focused exclusively on the needs of preschoolers.A social-emotional environment where children can learn, grow, and build friendships alongside peers their own age, without exposure to the influences, behaviors, and challenges that naturally come with sharing a campus with children as old as 12 years old.Classrooms filled with developmentally appropriate materials, toys, and learning experiences designed specifically for four- and five-year-olds.Child-sized restrooms, sinks, furniture, and learning environments that promote confidence, independence, and success.Age-appropriate playgrounds designed to meet preschool developmental needs and ASTM safety standards.Regular oversight through inspections by the Florida Department of Children and Families, along with Discovery Point’s own Quality Assurance Team, ensuring high standards for health, safety, and educational excellence.A warm, family-focused environment where children are known, valued, and encouraged to grow socially, emotionally, physically, and academically.Enrichment opportunities and experiences that go beyond what many traditional school settings can offer, helping children develop confidence, creativity, and a lifelong love of learning.A proven curriculum that prepares children for kindergarten success through hands-on learning experiences that build early literacy, math, science, critical thinking, and problem-solving skills.

Elementary schools simply aren’t designed for little minds and little bodies.

Research continues to show that high-quality early childhood education can have lasting benefits for academic achievement and social-emotional development. For this reason, Discovery Point encourages families to carefully evaluate all preschool options and visit potential programs before making a decision.

For Florida VPK options with Discovery Point, visit https://www.discoverypoint.com/centers/ to find a location near you and schedule a tour. Discovery Point has been a leader in childcare and early education since 1988. 

Media Contact:
Briyanna Purifoye
bpurifoye@discoverypoint.com 

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SOURCE Discovery Point Franchising, Inc

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Technology

Whimstay Launches Same-Day Booking, Bringing Hotel-Style Spontaneity to Vacation Rentals

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June 15, 2026

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Travelers can now book select vacation rentals up to four hours before check-in, closing a gap that kept the category out of reach for last-minute bookers

SAN FRANCISCO, June 15, 2026 /PRNewswire/ — Whimstay, the vacation rental platform built for last-minute travel, today announced that it now accepts same-day bookings on select properties. For participating homes, travelers can reserve a stay up to four hours before check-in, a capability long associated with hotels but rarely available in vacation rentals.

For years, the vacation rental industry stayed out of reach for same-day bookers. Long lead times, manual host approvals, and the operational complexity of turning over a home on short notice meant travelers who needed a place tonight defaulted to hotels. Whimstay’s same-day booking changes that for participating properties, giving spontaneous travelers, last-minute planners, and anyone whose plans shifted at the eleventh hour access to full homes instead of a single room.

The launch builds on Whimstay’s focus on last-minute inventory and competitive pricing. When a host opts a property into same-day booking, they are often motivated to fill an open calendar, which means travelers find space and value where they previously found neither.

Making four-hour bookings possible meant solving the trust problem that comes with speed. Whimstay built sophisticated fraud prevention into the same-day flow, screening transactions in real time so that faster bookings do not mean riskier ones for hosts or travelers.

“Same-day booking has been the standard in hotels for decades, and there was no good reason vacation rentals couldn’t offer the same thing,” said Ben Jamshahi, CEO at Whimstay. “We built the infrastructure to make it fast, safe, and reliable. Now a traveler can decide at noon and check into a full home by evening.”

Same-day booking is available now on participating Whimstay properties. To find a last-minute stay, visit whimstay.com.

About Whimstay
Whimstay is a vacation rental platform specializing in last-minute bookings and competitive pricing, connecting travelers with available homes when they need them most.

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SOURCE Whimstay

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Technology

Kelley Drye Relocates San Diego Office to Del Mar

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June 15, 2026

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New Location Supports Client Engagement and the Firm’s Continued Growth in California

SAN DIEGO, June 15, 2026 /PRNewswire/ — Kelley Drye & Warren LLP has relocated its San Diego office from La Jolla to a new Del Mar location at 12481 High Bluff Drive, reinforcing the firm’s continued investment in California and enhancing its ability to serve clients across the state.

The new 5,000‑square‑foot office is designed as a flexible hub for client engagement and collaboration. It features a state‑of‑the‑art conference center to support client meetings and industry programming, along with shared amenities that encourage informal connection among teams and clients. Centrally located within San Diego’s business and legal community, the Del Mar office provides room for continued growth while strengthening the firm’s local presence.

“California is a critical market for our clients,” said Kelley Drye Managing Partner Dana Rosenfeld. “Our new office allows us to collaborate more closely with clients while supporting the integrated, statewide platform we are building across California.”

The San Diego relocation builds on Kelley Drye’s recent expansion in California, including the opening of its San Francisco office and the addition of privacy partner Kate Black in San Francisco and litigation partner Tom Rybarczyk in Los Angeles. Together, these investments strengthen the firm’s ability to serve clients seamlessly throughout the state.

Lawyers in Kelley Drye’s San Diego office advise clients nationwide on environmental, international trade, and litigation matters. The office is led by partners Rebecca Durrant, Andrew Homer, and Kristine Pirnia, who will continue to build the firm’s presence and deepen client relationships in the region.

“This move gives us a stronger platform for client meetings, industry programs, and engagement with the San Diego business community,” said partner Andrew Homer. “As the firm continues to grow in California, we remain focused on attracting top talent and delivering the high level of service and collaboration our clients expect.”

The San Diego office move follows Kelley Drye’s recent relocations in Washington, D.C., New Jersey, and Connecticut. Together, these milestones underscore the firm’s long‑term commitment to its people, clients, and communities, and its focus on providing exceptional legal counsel in fast‑evolving markets.

Kelley Drye & Warren LLP is a powerhouse law firm with more than 190 years of practice. With over 300 attorneys and professionals across nine offices, it offers tenacious courtroom advocacy, strategic problem‑solving, and savvy deal‑making across litigation, regulatory, trade, real estate, bankruptcy, and corporate matters. Kelley Drye represents a diverse client base, serving Fortune 500 companies, emerging businesses, and government entities across technology, finance, healthcare, defense, real estate, and manufacturing. Kelley Drye is committed to delivering practical advice, creative solutions, and exceptional value through enduring client relationships. For more information, visit www.kelleydrye.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/kelley-drye-relocates-san-diego-office-to-del-mar-302800434.html

SOURCE Kelley Drye & Warren LLP

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