PowerFleet, Inc.

Greetings and welcome to Power Fleet's third quarter 2025 earnings call. At this time, all participants are on a listen-only mode and a question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note, this conference is being recorded. I will now turn the conference over to your host, Mr. David Wilson, Power Fleet's Chief Financial Officer. Sir, you may begin.

Our remarks today will contain forward-looking statements. Our actual results may differ from those contemplated by these forward-looking statements. Factors that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements are described in today's earnings press release. Any forward-looking statements that we make on this call are made only as of today, and we assume no obligation nor do we intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances. During the call, we will present both GAAP and certain non-GAAP measures. A reconciliation of GAAP to non-GAAP measures is included in today's press release. The press release is available on the investor section of our website at ir.powerfleet.com. With that said, I will hand the call over to Steve Towe, CEO of PowerFleet. Steve.

Good morning, everyone, and thank you for joining today to discuss our third quarter results. Our first since completing the Fleet Complete transaction. I'm excited to share the steps we've taken and the progress we've achieved. Securing global scale through Accretive M&A was a key pillar of our strategic plan, shaping our major initiatives since I joined Pay Our Fleet three years ago. The rapid follow-up of the Fleet Complete acquisition following the mixed combination has fundamentally transformed our business, providing a platform for accelerated growth. Let's look at the financial headlines. Quarterly revenue in Q3 reached $106 million, a $33 million increase representing 45% growth. Importantly, service revenues accounted for 77% of the total revenue in the quarter. Adjusted gross margins in the quarter exceeded 60%, with service margins close to 70%. Our Cost Synergy Programme continues at pace. with an exceptional $15 million in annualized savings secured exiting the December quarter, and we remain on track to exceed $16 million by year end. Looking ahead, we are focused on realizing an additional $21 million in cost synergies over the next 18 months, reflecting our continued commitment to drive efficiency and maximizing near and long-term value. Turning to go-to-market, The FleetComplete transaction has significantly expanded our opportunity set and strategic optionality. The addition of scale partner channels with the likes of AT&T and Telus serves as a force multiplier, providing extensive market reach through a success-based investment model rather than a speculative one. In North America, we are actively evolving our approach to fully leverage a hybrid strategy that integrates both direct sales and channel partnerships. The refined model positioned us to maximize market penetration while optimizing sales efficiency and cost effectiveness. The importance of our direct sales efforts was exemplified this quarter by securing a major deal in North America for our in-warehouse solutions with one of the largest beverage companies in the world. This agreement includes an initial multi-million dollar order with a long-term potential in the $25 to $30 million total contract value rate. This landmark deal was the largest of many this quarter for our Unity Safest Decentric solution set, which continues to gain global traction. Additional highlights include continued share of wallet expansion with the largest soft drinks bottler in the world, with an additional 5,000 subscribers added to the Unity platform. An initial $1.2 million order from a leading Australian utility provider for our safety and compliance solutions, and finally, a more than $1 million ARR initial order with a top mining operator with a clear path for further expansion. On the indirect front, FleetComplete's AI camera solution continues to build traction, with sales volumes through its largest telco partner up 52% year over year, while a key partnership in Mexico with a global insurance provider continues to drive multiple new logo wins. Looking at product delivery, we've expanded our R&D team from just 85 engineers a year ago to a 400-person strong team with deep domain expertise today. This growth enables us to accelerate the execution of the Unity product roadmap, guided by a clear understanding of market needs and demand drivers. Leading this initiative is Mike Powell, our recently appointed Chief Innovation Officer. With over two decades of experience in digital transformation, AI, and automation, Mike is uniquely positioned to advance our Unity AOT ecosystem and accelerate product innovation. His leadership will ensure we maximize Unity's potential while aligning our development efforts with high-value opportunities. As we sharpen our strategic focus, we're also taking decisive steps to align resources for the most impactful growth areas. This means prioritizing high-velocity opportunities while exiting non-core or lower growth segments. A clear example of this approach is our decision to discontinue support for an end-of-life ELD business that Mix had previously acquired from Trimble. While this move has an immaterial impact at less than 1% of our total revenue, it removes a significant source of drag and distraction, allowing us to reallocate resources towards scalable, high-value initiatives that drive long-term growth and efficiency. With our organizational alignment well underway, cost synergies tracking ahead of plan, and our go-to-market strategy gaining momentum, we're executing on key initiatives to drive long-term growth and profitability. Our investments in product innovation, sales channel optimization, and operational efficiency position us to capitalize on emerging opportunities while maintaining financial discipline. I'll now hand over the call to David to provide additional detail and insights into our financial results. David?