Powerfleet, Inc. Segments Disclosure
| Year Ended December 31, | Three Months Ended March 31, | Year Ended March 31, | |||||||||||||||||||||
| 2023 | 2024 | 2025 | 2026 | ||||||||||||||||||||
| Total revenues | $ | 133,736 | $ | 33,740 | $ | 362,515 | $ | 443,777 | |||||||||||||||
| Total cost of revenues | 66,660 | 17,537 | 167,978 | 197,355 | |||||||||||||||||||
| Selling and marketing expenses | 24,076 | 5,720 | 53,048 | 73,160 | |||||||||||||||||||
| General and administrative expenses | 41,303 | 15,152 | 141,803 | 127,029 | |||||||||||||||||||
Development costs incurred | 12,716 | 3,417 | 28,881 | 34,771 | |||||||||||||||||||
Development costs capitalized | (4,336) | (1,399) | (12,820) | (16,412) | |||||||||||||||||||
| Depreciation and amortization | 5,874 | 960 | 9,510 | 8,298 | |||||||||||||||||||
| Interest income | 103 | 259 | 926 | 780 | |||||||||||||||||||
| Interest expense | (1,602) | (709) | (20,330) | (27,526) | |||||||||||||||||||
| Bargain purchase - Movingdots | 9,034 | — | — | — | |||||||||||||||||||
| Other expense | (29) | (55) | (1,163) | (4,086) | |||||||||||||||||||
| Income tax expense | (589) | (352) | (4,517) | (8,688) | |||||||||||||||||||
| Net loss before non-controlling interest | (5,640) | (8,504) | (50,969) | (19,944) | |||||||||||||||||||
| Non-controlling interest | (35) | (11) | (18) | (608) | |||||||||||||||||||
| Accretion of preferred stock | (7,139) | (9,996) | — | — | |||||||||||||||||||
| Preferred stock dividend | (4,493) | (1,128) | (25) | — | |||||||||||||||||||
| Net loss attributable to common stockholders | $ | (17,307) | $ | (19,639) | $ | (51,012) | $ | (20,552) | |||||||||||||||
| Year Ended December 31, | Three Months Ended March 31, | Year Ended March 31, | |||||||||||||||||||||
| 2023 | 2024 | 2025 | 2026 | ||||||||||||||||||||
| North America | $ | 74,671 | $ | 18,090 | $ | 121,623 | $ | 159,339 | |||||||||||||||
| Israel | 41,689 | 11,267 | 49,555 | 58,385 | |||||||||||||||||||
| Africa | 3,283 | 863 | 97,586 | 109,702 | |||||||||||||||||||
| Europe and Middle East | 1,908 | 1,016 | 43,190 | 51,092 | |||||||||||||||||||
Australia | — | — | 30,962 | 42,963 | |||||||||||||||||||
| Other | 12,185 | 2,504 | 19,599 | 22,296 | |||||||||||||||||||
| $ | 133,736 | $ | 33,740 | $ | 362,515 | $ | 443,777 | ||||||||||||||||
| March 31, 2025 | March 31, 2026 | ||||||||||
| North America | $ | 13,051 | $ | 16,409 | |||||||
| Israel | 2,249 | 1,576 | |||||||||
| Africa | 32,391 | 33,004 | |||||||||
| Europe and Middle East | 4,824 | 6,098 | |||||||||
Australia | 825 | 550 | |||||||||
| Other | 4,671 | 4,761 | |||||||||
| $ | 58,011 | $ | 62,398 | ||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Jun 15, 2026 | Showing above |
| 2025 | Jun 26, 2025 | |
| 2023 | May 9, 2024 | |
| 2022 | Mar 31, 2023 | |
| 2021 | Mar 16, 2022 | |
| 2020 | Mar 22, 2021 | |
| 2019 | Apr 8, 2020 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.