Powerfleet Authorizes $30 Million Stock Repurchase Program

The authorization allows the company to acquire its common stock on the open market through June 2028. This move provides the firm with flexibility to manage its capital structure, though the program does not mandate any specific purchase volume. The company may modify, suspend, or discontinue the repurchases at its discretion at any time.

Powerfleet, which maintains primary listings on the Nasdaq Global Market under the ticker AIOT and a secondary listing on the Johannesburg Stock Exchange, continues to focus on its mobile asset software business. Management noted that the timing and price of any future transactions will remain subject to regulatory requirements and the company's evolving financial priorities.