PowerFleet, Inc. (AIOT) Delivers Record Revenue and Profit Growth

PowerFleet, Inc. (NASDAQ:AIOT) is one of the best high-return penny stocks to buy right now. On February 9, PowerFleet Inc. (NASDAQ:AIOT) delivered solid third-quarter fiscal 2026 results characterized by robust recurring revenue growth.

Total revenue increased 7% to a record $113.5 million compared to $106.4 million delivered in the same quarter last year. The increase was driven by an 11% increase in services revenue to $91.1 million, up from $81.7 million a year ago. The revenue increase was also driven by strong recurring revenue growth, reflecting an 11% increase in high-value services.

The company jumped to an Operating profit of $6.3 million, compared with an operating loss of $1.2 million in Q3 FY25. Net loss shrank to $3.4 million or $0.03 a share compared to a net loss of $14.3 million or $0.11 a share a year ago.

“Operationally, we are continuing to see the benefits of disciplined execution and robust cost synergy realization. Adjusted EBITDA increased 26% year-over-year to $25.7 million; operating income improved to $6.3 million, and adjusted EBITDA margins expanded to 23% from 19% in the prior year period,” said Steve Towe, Chief Executive Officer.

PowerFleet has updated its full-year guidance and now expects revenue to range between $440 million and $445 million, up from the previous guidance of $435 million to $445 million.

PowerFleet, Inc. (NASDAQ:AIOT) is a global provider of Artificial Intelligence of Things (AIoT) software-as-a-service (SaaS) solutions designed to optimize the performance of mobile assets, such as vehicles, trailers, containers, and warehouse equipment.

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