PowerFleet, Inc.

Greetings. Welcome to PowerFleet's third quarter 2026 earnings call. At this time, all participants are in a listen-only mode. 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, Carolyn Capaccio of Alliance Advisors IR. You may begin.

Thanks, operator. Good morning, everyone. This presentation contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to Power Fleet's beliefs, plans, goals, objectives, expectations, anticipations, Assumptions, estimates, intentions, and future performance can involve known and unknown risks, uncertainties, and other factors which may be beyond carefully controlled and which may cause its actual results, performance, or achievement to be materially different from future results, performance, or achievement expressed or implied by such forward-looking statements. All statements other than statements of historical facts are statements that could be forward-looking statements. For example, forward-looking statements included statements regarding prospects for additional customers, potential contract values, market forecasts, projections of earnings, revenues, synergies, accretion or other financial information, emerging new products and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. The risks and the certainties referred to above are not limited to risks detailed from time to time in PowerFleet's Filings, Business Securities, and Exchange Commission, including PowerFleet's annual report on Form 10-K for the year ended March 31, 2025. These risks could also cause results to differ materially from those expressed in any forward-looking statement made by or on behalf of PowerFleet. Unless otherwise required by applicable law, PowerFleet assumes no obligation to update the information contained in this presentation and expressly declaims any obligation to do so, whether a result of new information, future events, or otherwise. Now I'll turn the call over to PowerFleet's CEO, Steve Tow. Steve?

Good morning, everyone, and thank you for joining us today. From an execution standpoint, Q3 was another strong quarter, an important one in demonstrating the consistency of delivery we're now seeing across the total combined business. We continue to make progress in the areas that matter most, accelerating high margin recurring revenue growth, expanding profitability, and strengthening our balance sheet, all while maintaining disciplined execution. This quarter clearly shows the operating model we're building, focused, disciplined, and designed to deliver profitable accelerated growth at scale. As we previously articulated, the heavy lifting of integration is fundamentally behind us. And we've been clear in recent earnings calls about the growth milestones we've set for ourselves. For some time, we've been signaling a Q4 exit run rate for FY26 of 10% total revenue growth and north of 10% growth in recurring revenue. And based on our performance exit in Q3, We feel confident in achieving those milestones, which gives us the desired momentum to press our foot on the growth accelerator in FY27. Next slide, please. It's important to note that it's the first quarter in which our year-over-year results reflect the combined businesses. Stepping back and looking at the quarter, the key themes are increasing ARR growth, consistency, and balance to our performance. Service revenue grew 11% year-over-year and now represents 80% of total revenue. Total revenue increased 7% year-over-year, reflecting solid underlying organic performance, with the prior year comp benefiting from $2 million in accelerated product revenue as per the UAS gap change communicated on the Q4 FY25 earnings call. This means on an apples for apples basis, total revenue growth was 9% year over year. At the same time, adjusted EBITDA increased 26% year over year, driven by top line growth with adjusted EBITDA margins expanding by 4% to 23%. Moving to the balance sheet, where net debt to adjusted EBITDA continues to strengthen as we exited the quarter at 2.7 times. This combination of growth, margin expansion, and balance sheet improvement reflects a business that is scaling responsibly and executing against clear priorities, and it reinforces the strength of our Unity strategy and the scalability of our Unity platform, giving us clear line of sight to accelerating growth in FY27. Next slide, please. In Q3, we secured a truly landmark win for the business. a highly meaningful South African public sector contract to deliver AI video and visibility services to government fleets collectively operating more than 100,000 total assets. The agreement is anticipated to represent one of the largest deployments in our history and is expected to generate meaningful recurring SaaS and services revenue with solid margins over a multi-year term following a phased implementation. Preliminary department enrollments are highly encouraging and ahead of our initial internal expectations. This award reflects the increasing scale at which government agencies are adopting data-driven fleet technologies in partnership with Tier 1 providers. Programs of this size typically anchor long duration customer relationships and create a foundation for additional software and analytics adoption over time. Under this program, we will deploy Unity including advanced visibility and AI video capabilities to enhance safety, security, and situational awareness across a large-scale operational estate. A key differentiator in winning this contract was our partnership with MTN, which provides the scale, connectivity, and platform support required for a deployment of this magnitude. This award underscores our ability to meet the demanding requirements of Tier 1 customers, and highlights the strength of our partner ecosystem in delivering reliable, scalable solutions. With that, I'll hand over to Jeff to walk through our commercial momentum and customer execution. Jeff?