Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Mar. 31, 2025
Current assets:
Cash and cash equivalents	$ 27,898	$ 44,392
Restricted cash	4,583	4,396
Accounts receivables, net of allowance for credit losses of $4,057 and $9,490 as of March 31, 2025 and September 30, 2025, respectively	85,032	78,623
Inventory, net	22,466	18,350
Prepaid expenses and other current assets	27,858	23,319
Total current assets	167,837	169,080
Fixed assets, net	63,277	58,011
Goodwill	401,216	383,146
Intangible assets, net	262,765	258,582
Right-of-use asset	12,079	12,339
Severance payable fund	4,330	3,796
Deferred tax asset	3,962	3,934
Other assets	21,427	21,183
Total assets	936,893	910,071
Current liabilities:
Short-term bank debt and current maturities of long-term debt	43,206	41,632
Accounts payable	49,768	41,599
Accrued expenses and other current liabilities	41,419	45,327
Deferred revenue - current	17,199	17,375
Lease liability - current	4,756	5,076
Total current liabilities	156,348	151,009
Long-term debt - less current maturities	231,906	232,160
Deferred revenue - less current portion	4,899	5,197
Lease liability - less current portion	8,363	8,191
Accrued severance payable	5,584	6,039
Deferred tax liability	58,680	57,712
Other long-term liabilities	2,134	3,021
Total liabilities	467,914	463,329
Commitments and Contingencies (Note 23)
STOCKHOLDERS’ EQUITY
Preferred stock; authorized 50,000 shares, $0.01 par value	0	0
Common stock; authorized 175,000 shares, $0.01 par value; 135,379 and 135,870 shares issued at March 31, 2025 and September 30, 2025, respectively; shares outstanding, 133,316 and 133,806 at March 31, 2025 and September 30, 2025, respectively	1,343	1,343
Additional paid-in capital	675,847	671,400
Accumulated deficit	(220,305)	(205,783)
Accumulated other comprehensive (loss) income	23,462	(8,850)
Treasury stock; 2,063 and 2,063 common shares at cost at March 31, 2025 and September 30, 2025, respectively	(11,518)	(11,518)
Total Powerfleet, Inc. stockholders’ equity	468,829	446,592
Non-controlling interest	150	150
Total equity	468,979	446,742
Total liabilities and stockholders’ equity	$ 936,893	$ 910,071

Powerfleet, Inc. 10-Q