PowerFleet, Inc.

Good morning.

Welcome to PowerFleet's second quarter 2022 conference call. Joining us for today's presentation is the company's CEO, Steve Towe, and global controller, Joaquin Phong. Following their remarks, we will open the call for questions. Before we begin the call, I would like to provide PowerFleet's safe harbor statement that includes cautions regarding forward-looking statements made during this call. During the call, there will be forward-looking statements made regarding future events including Power Fleet's future financial performance. All statements other than present and historical facts, which include any statements regarding the company's plans for future operations, anticipated future finance position, anticipated results of operation, business strategy, competitive position, company's expectations regarding opportunities for growth, demand for the company's product offering, and other industry trends are considered forward-looking statements. Such statements include but are not limited to the company's financial expectations for 2022 and beyond. All such forward-looking statements imply the presence of risks, uncertainties, and contingencies, many of which are beyond the company's control. The company's actual results, performance, or achievements may differ materially from those projected or assumed in any forward-looking statement. Factors that could cause actual results to differ materially could include, amongst other SEC filings, overall economic and business conditions, demand for the company's products and services, competitive factors, emergence of new technologies, and the company's cash position. The company does not intend to undertake any duty to update any forward-looking statements to reflect future events or circumstances. Finally, I would like to remind everyone that this call will be made available for replay and the Investor Relations section of the company's website at www.powerfleet.com. Now, I would like to turn the call over to PowerFleet's CEO, Mr. Steve Towe. Sir, please proceed.

Thank you, Operator, and good morning, everyone. We appreciate you taking the time to join PowerFleet's second quarter 2022 earnings call. I'd firstly like to say thank you to those of you that joined our Virtual Investor Day in mid-June. Your positive energy and feedback were very encouraging to us. The leadership team and I appreciated the opportunity to share with you PowerFleet's enhanced vision, our growth drivers, go-to-market strategy, software and II roadmap, all of which we are executing on well, as you'll hear a lot about this morning. If you haven't had the chance to listen to our Investor Day, I encourage you to visit the Investor Relations section of our website to access the content. As you can see from our results, during the second quarter, we built on the momentum we established in Q1 and delivered solid, sequential, and year-over-year growth, the latter of which is quite impressive, given the year-ago comparison includes significant one-off product revenue. Moreover, the $34.6 million in total revenue this quarter marked a 10-quarter high for Power Fleet and third successive quarter where we've overachieved external consensus estimates. The revenue mix is also encouraging as we embark on our journey for high-quality recurring SaaS revenues at the heartbeats of our company. Importantly, we were able to achieve these milestones despite the ongoing macro headwinds and supply chain issues affecting our industry, many of our competitors, and companies globally. Our impressive top-line performance in Q2 was driven by further commitment from notable customers like Ford, Volvo, Nestle, and NACPAC. The improvement in our bottom line reveals the early benefits of our rationalisation initiatives that are enhancing our organisation's efficiency and profitability. Taken together, we realised very positive improvements in both operating expenses and our key profitability measures in the second quarter, all of which exceeded external consensus, estimates and expectations. Overall, the leadership team and I are very encouraged by the progress we're making, the execution we're delivering, and the results we're seeing. Before I dive into our operational highlights and outlook, I'll turn it over to our Principal Finance Officer, Joaquin Fong, to cover our financial results for the second quarter of 2022. Joaquin?