Powerfleet Inc. –
Powerfleet Inc., a publicly traded provider of AI-powered data intelligence, Monday announced an expanded deployment of its advanced AI video safety solution with EverDriven Technologies, which provides alternative student transportation across the United States.
The company also reported net losses for the fiscal year ended March 31 increased from a year earlier. Revenue rose 26% for fiscal 2025.
EverDriven, based in Greenwood Village, Colo., operates in 34 states with more than 9,000 drivers making over 2 million trips annually.
EverDriven will complete a major AI video safety deployment, scaling its relationship with Powerfleet to about 4,000 subscribers. This initiative enhances driver safety, automated coaching, and real-time risk detection, reinforcing EverDriven’s safety-first mission.
“Our growing partnership with EverDriven highlights the increasing demand for Unity’s AI-powered safety solutions in North America,” said Steve Towe, CEO of Powerfleet. ” This collaboration further demonstrates the growth of our Unity safety solutions in our number one priority market.”
“Our exclusive partnership with Powerfleet and the implementation of AI video technology marks a significant advancement in our safety protocols,” said Mitch Bowling, CEO of EverDriven.
As for its earnings report, the company reported net losses for the fiscal year ended March 31 increased to $50.9 million, or 43 cents a share, from $16.3 million, or 34 cents, a year earlier. Revenue rose 26% to $362.5 million.
In a statement, Towe said, “Fiscal 2025 was a true milestone year for Powerfleet – a period in which we executed a bold reinvention strategy integrating two major acquisitions in just 12 months, achieved our organic growth and profitability metrics, and established Powerfleet as a global AIoT SaaS leader – with the Unity platform at the center of our customer value creation strategy.” Towe said AI video increased more than 20% and in-warehouse safety solutions climbed 17%.
The subscriber base expanded by four times to 2.8 million, placing Powerfleet among the top three global AIoT SaaS providers.
Powerfleet shares have fallen 25% year to date, though they were up 51 cents, or 11.4% Monday to $4.95 in trading on the Nasdaq Global Market Composite index. 4.9610
