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(Nasdaq: AIOT), a Woodcliff Lake, N.J.-based provider of artificial intelligence of things (AIoT) software-as-a-service solutions for the mobile asset industry, said its board of directors has approved a new stock repurchase program worth up to $30 million.
The announcement was made June 30, 2026. Board Authorizes $30 Million Buyback The Powerfleet board authorized the repurchase of up to $30 million of the company's common stock.
Repurchase programs of this scale are typically used by companies to return capital to shareholders, reduce share count, and signal management confidence in the company's valuation, though the company did not specify its stated rationale in the announcement beyond board approval.
Powerfleet describes itself as a global leader in AIoT SaaS for the mobile asset industry, operating under the Nasdaq ticker AIOT.
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