Powerfleet, Inc.
AIOTQ4 2025(AIOT Q2 FY2026)Estimated4.5% AI
AI Revenue %
4.5%
AI Fair Value
$17.1M
AI Revenue (Q)
$6.9M
Total Revenue (Q)
$152.4M
Source: SEC EDGAR 10-Q Filing
Browse 10-Q filings on SEC.govAnalysis
Q2 FY2026 (Jul-Sep 2025) revenue $111.7M — highest quarterly revenue. Services revenue $89.3M (80%). Company now fully positioned as AIoT, with maturing Unity platform serving combined customer base. Small uptick to 4.5% reflects continued AI feature maturation and likely increased upsell of analytics features to acquired customer bases. However, still no AI revenue disclosure, no AI segment, and the bulk of revenue remains traditional fleet tracking SaaS subscriptions. Math: 4.5% x $111.7M = ~$5.0M implied quarterly AI revenue. Note: Total six-month FY2026 revenue $215.8M implies ~$430M annual run rate.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenues $111,679 (Products $22,370 + Services $89,309)
10-Q Q2 FY2026, Condensed Consolidated Statements of Operations
Six months ended September 30, 2025: Total revenues $215,800 (Products $40,027 + Services $175,773)
10-Q Q2 FY2026, Condensed Consolidated Statements of Operations
Development costs incurred $8,934 for three months ended September 30, 2025
10-Q Q2 FY2026, Note 18 Segment Information
AI Products Identified (Ring 1)
Unity AIoT platform ML analyticsPower AI featuresConnvex InsightsPredictive fleet maintenanceInsurance telematics ML
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
GPS fleet trackingMiX Telematics subscriptionsFleet Complete subscriptionsIoT hardware devicesBasic telematics SaaSELD/compliance solutions
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix