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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Mar. 31, 2024
 [1]
Current assets:    
Cash and cash equivalents $ 25,962 $ 24,354
Restricted cash 63,074 85,310
Accounts receivables, net of allowance for credit losses of $3,197 and $5,321 as of March 31, 2024 and September 30, 2024, respectively 64,819 30,333
Inventory, net 23,488 21,658
Deferred costs - current 13 42
Prepaid expenses and other current assets 17,985 8,091
Total current assets 195,341 169,788
Fixed assets, net 51,928 12,719
Goodwill 300,283 83,487
Intangible assets, net 167,320 19,652
Right-of-use asset 9,402 7,428
Severance payable fund 3,864 3,796
Deferred tax asset 3,602 2,781
Other assets 16,595 9,029
Total assets 748,335 308,680
Current liabilities:    
Short-term bank debt and current maturities of long-term debt 35,339 1,951
Accounts payable and accrued expenses 66,098 34,008
Deferred revenue - current 10,447 5,842
Lease liability - current 2,248 1,789
Total current liabilities 114,132 43,590
Long-term debt - less current maturities 111,011 113,810
Deferred revenue - less current portion 4,674 4,892
Lease liability - less current portion 7,713 5,921
Accrued severance payable 4,677 4,597
Deferred tax liability 52,113 4,465
Other long-term liabilities 2,905 2,496
Total liabilities 297,225 179,771
Commitments and Contingencies (Note 22)
Convertible redeemable preferred stock: Series A - 100 shares authorized, $0.01 par value; 60 and 0 shares issued and outstanding at March 31, 2024 and September 30, 2024, respectively, at redemption value of $90,273 at March 31, 2024 0 90,273
STOCKHOLDERS’ EQUITY    
Preferred stock; authorized 50,000 shares, $0.01 par value 0 0
Common stock; authorized 175,000 shares, $0.01 par value; 38,709 and 109,884 shares issued at March 31, 2024 and September 30, 2024, respectively; shares outstanding, 37,212 and 107,821 at March 31, 2024 and September 30, 2024, respectively 1,096 387
Additional paid-in capital 641,736 202,607
Accumulated deficit (178,996) (154,796)
Accumulated other comprehensive loss (1,364) (985)
Treasury stock; 1,497 and 2,063 common shares at cost at March 31, 2024 and September 30, 2024, respectively (11,518) (8,682)
Total Powerfleet, Inc. stockholders’ equity 450,954 38,531
Non-controlling interest 156 105
Total equity 451,110 38,636
Total liabilities, convertible redeemable preferred stock, and stockholders’ equity $ 748,335 $ 308,680
[1] Derived from audited balance sheet as of March 31, 2024.