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WOODCLIFF LAKE, N.J. - Powerfleet, Inc. (NASDAQ:AIOT), a $560 million market cap company currently trading near its Fair Value according to InvestingPro analysis, announced Tuesday that SIXT Mexico has selected its Unity platform to modernize operations across thousands of rental vehicles.
The multi-year agreement will implement Powerfleet’s artificial intelligence of things (AIoT) software-as-a-service platform to provide real-time data intelligence and control over SIXT Mexico’s vehicle fleet.
According to the company’s press release statement, the technology deployment aims to address operational challenges by enabling more proactive management of rental vehicles. The system will provide data on asset usage, security workflows, fuel insights, and operational accountability for non-rented vehicles.
"This partnership turns big data into measurable value," said Steve Towe, CEO of Powerfleet. "We’re empowering SIXT Mexico to shift from reactive oversight to proactive, AI-powered control."
The agreement originated from a customer referral, according to Powerfleet, which serves 48,000 customers across 120 countries. The company’s Unity platform uses artificial intelligence, machine learning and IoT connectivity to provide data solutions for industrial, logistics and transportation sectors.
SIXT Mexico is the national franchise of the global vehicle rental company that operates in over 100 countries.
The financial terms of the agreement were not disclosed in the announcement. While the stock has faced pressure with a 31% decline over the past six months, analysts maintain a bullish outlook with price targets ranging from $8 to $15. For detailed financial analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, Powerfleet, Inc. reported better-than-expected first-quarter earnings and revenue growth. 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 by 26% to $362.5 million, with a significant portion coming from recurring SaaS revenue. Additionally, adjusted EBITDA climbed 65% year-over-year to $71 million, with margins expanding by 500 basis points to 20%. In a separate development, Powerfleet launched an AI risk intervention application designed to enhance real-time safety by detecting and preventing risks. This new AI video module integrates with the company’s Unity ecosystem to automate risk assessment and reduce manual video reviews by up to 80%. Early deployments reportedly showed a 95% reduction in fatigue and distraction alerts, focusing on high-priority cases.
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