Powerfleet Appoints Deloitte & Touche as Independent Auditor

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[{"type":"text","content":"Reiterates Revenue and Adjusted EBITDA Guidance for Twelve Months Ending March 31, 2024 and 2025\nWOODCLIFF LAKE, N.J., July 25, 2024 /PRNewswire/ -- Powerfleet, Inc. (Nasdaq: AIOT) today announced that, on July 19, 2024, the audit committee of Powerfleet's board of directors approved the appointment of Deloitte & Touche, the incumbent auditor of MiX Telematics Ltd., as its independent registered public accounting firm for the fiscal year ending March 31, 2025 subject to satisfactory completion of Deloitte & Touche's client acceptance procedures, which are in the process of being completed.\n\n \n \n \n \n \n \n\n \nDeloitte & Touche will replace Ernst & Young LLP, who has served as Powerfleet's independent auditor since 2019, effective upon the filing Powerfleet's Transition Report on Form 10-KT for the period from January 1, 2024, to March 31, 2024.\n\"While it is taking longer than we would have liked to file our transition report on Form 10-KT, we are confident in reiterating our guidance, for Powerfleet and MiX Telematics on a combined basis, of revenue exceeding $285 million and adjusted EBITDA exceeding $40 million for the twelve months ended March 31, 2024; and revenue of approximately $300 million and adjusted EBITDA of $60 million, inclusive of an incremental $5 million in secured exit run rate cost synergies, for the twelve months ending March 31, 2025. We are looking forward to partnering with Deloitte to ensure we meet our SEC reporting deadlines going forward,\" said David Wilson, Powerfleet's Chief Financial Officer.\nABOUT POWERFLEETPowerfleet (Nasdaq: AIOT; JSE: PWR; TASE: PWFL) is a global leader in the artificial intelligence of things (AIoT) software-as-a-service (SaaS) mobile asset industry. With more than 30 years of experience, Powerfleet unifies business operations through the ingestion, harmonization, and integration of data, irrespective of source, and delivers actionable insights to help companies save lives, time, and money. Powerfleet's ethos transcends our data ecosystem and commitment to innovation; our people-centric approach empowers our customers to realize impactful and sustained business improvement. The company is headquartered in New Jersey, United States, with offices around the globe. Explore more at www.powerfleet.com.\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSThis press releas...

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