Strong Growth in High Margin SaaS Revenues with Company Positioned for Accelerated Growth in Second Half of 2023 Second Quarter 2023 Service Revenue was 66% of Total Revenue, up from 57% in the Prior Period, Driving an Expansion in Total Company Gross Margins to 50% from 47% WOODCLIFF LAKE, N.J., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Powerfleet, Inc. (Nasdaq: PWFL), reported results for the second quarter and six months ended June 30, 2023. SECOND QUARTER 2023 FINANCIAL AND OPERATIONAL HIGHLIGHTS FIRST HALF 2023 FINANCIAL HIGHLIGHTS (COMPARED TO FIRST HALF 2022) MANAGEMENT COMMENTARY "Our transformation into a superior valued business centered on high quality, sticky, recurring SaaS revenue is reflected in our key performance indicators," said Powerfleet CEO Steve Towe.