PowerFleet, Inc. (NASDAQ:PWFL) Q1 2022 Results Earnings Conference Call May 10, 2022 8:30 AM ET
Company Participants
Steve Towe - Chief Executive Officer
Ned Mavrommatis - Chief Financial Officer & Treasurer
Conference Call Participants
Mike Walkley - Canaccord Genuity
Jaeson Schmidt - Lake Street
Scott Searle - ROTH Capital
Operator
Good morning. Welcome to PowerFleet's First Quarter 2022 Conference Call. Joining us for today's presentation is the company's CEO, Steve Towe; and CFO, Ned Mavrommatis. [Operator Instructions]
Before we begin the call, I would like to provide PowerFleet's safe harbor statement that include cautions regarding forward-looking statements made during this call. During the call, there will be forward-looking statements made regarding future events, including PowerFleet'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 financial 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 and 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 others, 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 in 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.
Steve Towe
Welcome, everyone, and thanks for joining our call. During the first quarter, we built on a solid uplift in revenue from the prior quarter and delivered an encouraging 14% year-over-year revenue growth. The double-digit growth momentum we generated in the first quarter was driven by further commitment from some of our major customers, including Walmart, Albertsons and American Intermodal Management.
And more broadly, we saw growth across our core international verticals and markets, particularly in Mexico and our pointer operations, both of which are realizing solid growth with new and existing partners. It's been a little over 4 months now since I joined PowerFleet, and my experience and interactions continue to exceed my expectations.