PowerFleet, Inc. (PWFL) financial statements (2022 and earlier)

Company profile

Business Address 123 TICE BLVD.
State of Incorp. DE
Fiscal Year End December 31
SIC 3669 - Communications Equipment, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

Current Assets
Cash, cash equivalents, and short-term investments26,45218,12716,395
Cash and cash equivalents26,45218,12716,395
Inventory, net of allowances, customer advances and progress billings18,24312,87316,381
Prepaid expense4,5802,9793,221
Contract with customer, asset1,7623,1283,720
Other current assets2,5611,7461,921
Other undisclosed current assets1,4321,0751,643
Total current assets:87,91064,76771,190
Noncurrent Assets
Operating lease, right-of-use asset9,7879,7007,024
Property, plant and equipment8,9888,8048,240
Intangible assets, net (including goodwill)109,609114,620125,707
Intangible assets, net (excluding goodwill)26,12231,27636,639
Contract with customer, asset, net2492,2334,810
Deferred income tax assets4,2621,506 
Other noncurrent assets4,7033,1152,532
Other undisclosed noncurrent assets4,3594,0563,530
Total noncurrent assets:141,957144,034151,843
TOTAL ASSETS:229,867208,801223,033
Current Liabilities
Accounts payable and accrued liabilities, including:29,01520,22524,880
Accounts payable17,7489,87715,400
Accrued liabilities2,5431,720942
Employee-related liabilities6,6445,5815,517
Other undisclosed accounts payable and accrued liabilities2,0803,0473,021
Deferred revenue6,519 7,687
Other undisclosed current liabilities2,64010,0942,312
Total current liabilities:44,28835,89841,808
Noncurrent Liabilities
Long-term debt and lease obligation25,47830,22932,886
Long-term debt, excluding current maturities18,11023,17926,515
Operating lease, liability7,3687,0506,371
Liabilities, other than long-term debt5,1346,68012,266
Deferred revenue4,4286,0068,544
Deferred income tax liabilities  3,722
Other liabilities706674 
Other undisclosed noncurrent liabilities10,1074,7144,500
Total noncurrent liabilities:40,71941,62349,652
Total liabilities:85,00777,52191,460
Temporary equity, carrying amount52,66351,99247,393
Stockholders' equity
Stockholders' equity attributable to parent92,11179,21384,190
Common stock373323308
Treasury stock, value(8,299)(6,858)(6,053)
Additional paid in capital234,083206,499201,813
Accumulated other comprehensive income391399265
Accumulated deficit(134,437)(121,150)(112,143)
Stockholders' equity attributable to noncontrolling interest8675(10)
Total stockholders' equity:92,19779,28884,180
TOTAL LIABILITIES AND EQUITY:229,867208,801223,033

Income statement (P&L) ($ in thousands)

Cost of revenue
(Cost of Goods and Services Sold)
Gross profit:60,18359,01738,364
Operating expenses(68,158)(62,475)(48,547)
Operating loss:(7,975)(3,458)(10,183)
Nonoperating income (expense)53(47)(50)
Investment income, nonoperating45554,525
Foreign currency transaction gain, before tax  653
Other nonoperating income (expense)8(102) 
Interest and debt expense(2,764)(4,467)(948)
Loss from continuing operations before equity method investments, income taxes:(10,686)(7,972)(11,181)
Other undisclosed income from continuing operations before income taxes  125
Loss from continuing operations before income taxes:(10,686)(7,972)(11,056)
Income tax expense(2,607)(1,038)(75)
Other undisclosed income from continuing operations  150
Net loss:(13,293)(9,010)(10,981)
Net income (loss) attributable to noncontrolling interest53(18)
Net loss attributable to parent:(13,288)(9,007)(10,999)
Preferred stock dividends and other adjustments(4,112)(4,599)(1,084)
Other undisclosed net income (loss) available to common stockholders, basic(672) 36
Net loss available to common stockholders, diluted:(18,072)(13,606)(12,047)

Comprehensive Income ($ in thousands)

Net loss:(13,293)(9,010)(10,981)
Comprehensive loss:(13,293)(9,010)(10,981)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest53(18)
Other undisclosed comprehensive loss, net of tax, attributable to parent(4,792)(4,465)(348)
Comprehensive loss, net of tax, attributable to parent:(18,080)(13,472)(11,347)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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