v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Current assets:    
Cash and cash equivalents $ 44,392 $ 24,354
Restricted cash 4,396 85,310
Accounts receivable, net of allowance for credit losses of $3,197 and $4,057 as of March 31, 2024 and 2025, respectively 78,623 30,333
Inventory, net 18,350 21,658
Prepaid expenses and other current assets 23,319 8,133
Total current assets 169,080 169,788
Fixed assets, net 58,011 12,719
Goodwill 383,146 83,487
Intangible assets, net 258,582 19,652
Right-of-use asset 12,339 7,428
Severance payable fund 3,796 3,796
Deferred tax asset 3,934 2,781
Other assets 21,183 9,029
Total assets 910,071 308,680
Current liabilities:    
Short-term bank debt and current maturities of long-term debt 41,632 1,951
Accounts payable 41,599 20,025
Accrued expenses and other current liabilities 45,327 13,983
Deferred revenue - current 17,375 5,842
Lease liability - current 5,076 1,789
Total current liabilities 151,009 43,590
Long-term debt - less current maturities 232,160 113,810
Deferred revenue - less current portion 5,197 4,892
Lease liability - less current portion 8,191 5,921
Accrued severance payable 6,039 4,597
Deferred tax liability 57,712 4,465
Other long-term liabilities 3,021 2,496
Total liabilities 463,329 179,771
Commitments and Contingencies (Note 18)
Convertible redeemable preferred stock: Series A - 100 shares authorized, $0.01 par value; 60 and 0 shares issued and outstanding at March 31, 2024 and 2025, respectively, at redemption value of $90,273 at March 31, 2024 0 90,273
STOCKHOLDERS’ EQUITY    
Preferred stock; authorized 50,000 shares, $0.01 par value 0 0
Common stock; authorized 175,000 shares, $0.01 par value; 38,709 and 135,379 shares issued at March 31, 2024 and March 31, 2025, respectively; shares outstanding, 37,212 and 133,316 at March 31, 2024 and 2025, respectively 1,343 387
Additional paid-in capital 671,400 202,607
Accumulated deficit (205,783) (154,796)
Accumulated other comprehensive loss (8,850) (985)
Treasury stock; 1,497 and 2,063 common shares at cost at March 31, 2024 and 2025, respectively (11,518) (8,682)
Total Powerfleet, Inc. stockholders’ equity 446,592 38,531
Non-controlling interest 150 105
Total equity 446,742 38,636
Total liabilities, convertible redeemable preferred stock, and stockholders’ equity $ 910,071 $ 308,680