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WOODCLIFF LAKE, N.J. - Powerfleet, Inc. (NASDAQ:AIOT), a $580 million market cap technology company that has shown impressive revenue growth of 169% over the last twelve months, announced Thursday the release of an automated AI risk intervention application designed to detect and prevent safety risks in real time. According to InvestingPro analysis, the company appears to be fairly valued at current levels.
The new AI video module integrates with the company’s Unity ecosystem and aims to replace manual video evidence reviews with automated risk assessment capabilities.
According to the company’s press release, the system uses artificial intelligence to identify risky patterns such as fatigue, distraction, and aggressive driving, triggering automatic escalation workflows when issues are detected.
"Companies are overwhelmed by video data but starved for actionable insight," said Steve Towe, CEO at Powerfleet, in the statement.
The application features continuous driver risk assessment, targeted notifications, and two-way communication capabilities. Powerfleet claims the system can reduce manual video review by up to 80% by using AI to prioritize risk events.
Early deployments reportedly showed a 95% reduction in fatigue and distraction alerts by focusing on high-priority cases, according to the company.
The global AI video market is expected to exceed $10 billion by 2030, the press release noted, with Powerfleet positioning its solution to address increased demand for proactive safety and compliance solutions.
Powerfleet provides AI-powered data solutions for industrial, logistics, and transportation sectors, serving 48,000 customers across 120 countries. With annual revenue of $362.5 million, the company is positioning itself for growth. Discover more detailed insights and analysis in the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Powerfleet, Inc. reported better-than-expected earnings and revenue growth for the first quarter. The company posted adjusted earnings per share of $0.02, surpassing analyst estimates of breakeven. Revenue rose 42% year-over-year to $103.6 million, slightly above the consensus forecast of $103.32 million. For fiscal 2025, total revenue increased 26% to $362.5 million, with recurring SaaS revenue making up approximately 75% of the total. The company’s adjusted EBITDA climbed 65% year-over-year to $71 million, with margins expanding 500 basis points to 20%. The subscriber base expanded fourfold to 2.8 million, positioning Powerfleet among the top three global AIoT SaaS providers. The customer base grew to 48,000, including over half of the Fortune 500 companies across eight verticals. For the first quarter, service revenue rose 49% to $81.8 million, while product revenue grew 23% to $21.9 million. Powerfleet ended the quarter with $48.8 million in cash and $273.8 million in total debt, outperforming its year-end net debt guidance by $6.4 million.
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