v3.24.2.u1
ACQUISITION (Tables)
 3 Months Ended
Mar. 31, 2024
Business Acquisition [Line Items]  
SCHEDULE OF WARRANTS VALUATION ASSUMPTIONS

      
Expected volatility   50%
Expected term (in years)   10 
Risk free interest rate   3.50%
Dividend yield   0%
Fair value per share  $1.68 
SCHEDULE OF PURCHASE PRICE ALLOCATION IN ASSETS ACQUIRED AND LIABILITIES

The following table details the allocation of the purchase price to the assets acquired and liabilities assumed in connection with the acquisition of Movingdots:

      
Consideration:    
Cash  $- 
Fair value of Powerfleet warrants on March 31, 2023   1,347 
Total consideration  $1,347 
      
Assets acquired:     
Cash  $8,722 
Accounts receivable   247 
Prepaid expenses   103 
Other assets   270 
Inventory   96 
Fixed assets   1,889 
Total assets acquired   11,327 
      
Liabilities assumed:     
Accounts payable and accrued expenses   946 
Total liabilities assumed   946 
      
Total identifiable net assets acquired   10,381 
Gain on bargain purchase   (9,034)
Purchase price consideration  $1,347 
Movingdots GmbH [Member]  
Business Acquisition [Line Items]  
SCHEDULE OF PRO FORMA REVENUE AND EARNINGS

The following table represents the unaudited combined pro forma revenue and earnings for the annual periods ended December 31, 2022 and 2023:

               
   Year Ended December 31, 2022 
   Historical    Pro forma combined (unaudited) 
         
Revenues  $135,912   $143,522 
Operating loss  $(6,971)  $(7,465)
Net loss per share - basic and diluted  $(0.48)  $(0.49)

 

               
   Year Ended December 31, 2023 
   Historical   Pro forma combined (unaudited) 
         
Revenues  $133,736   $136,258
Operating loss  $(12,557)  $(12,547)
Net loss per share - basic and diluted  $(0.49)  $(0.48)