Services revenue — The company said Q1 revenue growth was driven by a 9.1% year-over-year increase in services revenue, which made up 85% of total revenue.
South African contract — Near-term demand under the South African National Treasury contract accelerated faster than anticipated, with vehicles ready for installation about seven times the original expectation.
Production delays — Powerfleet said $3.2 million of product revenue was delayed by a production constraint late in the quarter, affecting a single product line.
Outlook for fiscal 2027 and 2028
Powerfleet sees fiscal 2027 revenue between $468 million and .
AIOT•
