I.D. Systems Reports Second Quarter 2017 Results

Revenue Up 20% Year-Over-Year to $10.7 Million, Driving Non-GAAP Profitability

Woodcliff Lake, NJ — August 3, 2017 — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management technology and solutions for the Industrial Internet of Things, reported results for the second quarter ended June 30, 2017.
Management Commentary
“We are encouraged by the strong topline growth we delivered in the second quarter, which marked the highest revenue level in two years,” said I.D. Systems CEO Chris Wolfe. “This achievement was driven by solid contributions across our business, particularly our industrial truck management segment, where we received significant orders from two leading auto manufacturers, as well as the initial contribution from our multi-year agreement with Avis Budget Group. The second quarter was also highlighted by non-GAAP profitability for the period, enabled by our reduced level of operating expenses.
“A key initiative going forward in the industrial truck management market is to target the small- and mid-tier segment―which represents a considerable growth opportunity―while continuing to pursue the enterprise market. To supplement this organic growth strategy, we acquired substantially all of the assets of Keytroller, a manufacturer and marketer of electronic products for managing forklifts and construction vehicles. Keytroller bolsters I.D. Systems’ distribution and market position in the small to mid-tier space through its expansive network of lift truck dealers, and by adding its highly synergistic product mix, sales cycle and customer base.
“We have entered the second half of 2017 with strong financial and operational momentum, putting us on track to achieve our financial goal of achieving sustained non-GAAP profitability. Our acquisition of Keytroller positions us to achieve a more predictable, profitable revenue stream from a more diverse and expansive customer base. Today, I.D. Systems is an unmatched single source of fleet management technology for industrial truck owners and operators, which will help us compete more effectively and diversify our revenue sources and, ultimately, drive long-term sustainable growth and shareholder value.”

Second Quarter 2017 Financial Results

Revenue increased 34% to $10.7 million from $8.0 million in the prior quarter and increased 20% from $8.9 million in same year-ago period. The increase was primarily due to higher vehicle management systems (VMS) revenue and initial revenue contribution from the company’s agreement with Avis Budget Group.
Recurring revenue increased 9% to $4.7 million from $4.3 million in the same period a year ago.
Gross margin was 51.8% compared to 53.1% in the same period a year ago.
Selling, general and administrative expenses were $5.2 million, compared to $5.0 million in the same year-ago period. The increase was due to professional fees related to the company’s acquisition of Keytroller, which was announced in July.
Research and development expenses were $0.9 million, compared to $1.2 million in same year-ago quarter.
Excluding stock-based compensation, depreciation and amortization, and foreign currency translation losses, non-GAAP net income totaled $83,000 or $0.01 per basic and diluted share, compared to non-GAAP net loss of $(623,000) or $(0.05) per basic and diluted share in the same year-ago quarter.
Net loss totaled $524,000 or $(0.04) per basic and diluted share, compared to a net loss of $1.5 million or $(0.12) per basic and diluted share in the same year-ago quarter.
For the six-month period ended June 30, 2017, net cash provided by operations was $5.7 million, compared to net cash used in operations of $17,000 in the same period of 2016.
At quarter-end, the company had $10.3 million in cash, cash equivalents and marketable securities, compared to $8.6 million at the end of the prior quarter. On a pro forma basis, including the net proceeds from the sale of common stock in an underwritten public offering completed in July 2017 and the acquisition of Keytroller, the company had $19.5 million in cash, cash equivalents and marketable securities, and 17.4 million shares outstanding.

Investor Conference Call

I.D. Systems management will discuss the results of the company’s operations and business outlook on a conference call today (Thursday, August 3, 2017) at 4:45 p.m. Eastern time (1:45 p.m. Pacific time).
Company CEO Chris Wolfe and CFO Ned Mavrommatis will host the call, followed by a question and answer session where financial analysts and major institutional shareholders can ask questions.
U.S. dial-in: 877-307-1379
International dial-in: 443-877-4066
Conference ID: 55295290
The conference call will be broadcast simultaneously and available for replay for 90 days in the investor section of the company’s website at idsy2019.wpengine.com.
If you have any difficulty connecting with the conference call, please contact I.D. Systems’ investor relations team at 949-574-3860.

Non-GAAP Measures

To supplement its financial statements presented in accordance with Generally Accepted Accounting Principles (GAAP), I.D. Systems provides certain non-GAAP measures of financial performance. These non-GAAP measures include non-GAAP net income/loss and non-GAAP net income/loss per basic and diluted share. Reference to these non-GAAP measures should be considered in addition to results prepared under current accounting standards, but are not a substitute for, or superior to, GAAP results. These non-GAAP measures are provided to enhance investors’ overall understanding of I.D. Systems’ current financial performance. Specifically, I.D. Systems believes the non-GAAP measures provide useful information to both management and investors by excluding certain expenses, gains and losses that may not be indicative of its core operating results and business outlook. Because I.D. Systems’ method for calculating the non-GAAP measures may differ from other companies’ methods, the non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Reconciliation of all non-GAAP measures included in this press release to the nearest GAAP measures can be found in the financial tables included in this press release.

I.D. Systems Completes Keytroller Acquisition, Strengthening Market Position and Fueling Growth Potential

WOODCLIFF LAKE, N.J., Aug. 01, 2017 — I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of mobile asset management technology and solutions for the Industrial Internet of Things, has completed its acquisition of Keytroller, LLC, a manufacturer and marketer of electronic products for managing forklifts, construction vehicles, and other industrial equipment.
Combined, the companies have installed hundreds of thousands of management devices on forklifts and other industrial trucks in more than a dozen countries around the world. I.D. Systems markets its flagship Powerfleet® system primarily to end users and lift truck OEMs as a premier solution for global enterprises with large fleets of equipment across multiple sites. Keytroller markets its broad line of forklift management devices mainly through a large network of lift truck dealers, offering solutions for many different fleet sizes at a wide range of price points.
“One of the most important advantages the acquisition of Keytroller gives us, is now we can truly offer the perfect solution to any customer—no matter how large or small their fleet is, what problem they are trying to solve, or what budget they have to work with,” said I.D. Systems CEO Chris Wolfe. “In addition, together, I.D. Systems and Keytroller give customers the best option as an OEM-independent provider of forklift management technology. It’s vital for a fleet management system to work seamlessly across all makes, models and types of industrial trucks.”
“Keytroller and I.D. Systems complement each other incredibly well,” said Keytroller president Terry Wickman, who will stay on as an I.D. Systems executive vice president and run Keytroller as an independent division. “Our product mix and technologies cover everything a forklift fleet manager could want, soup to nuts, and our distribution channels have minimal conflicts. We rarely compete head-to-head. Joining together is a win-win for our companies, our partners, and our end users—all of us will benefit from a broader choice of solutions and a larger, more capable service and support organization.”
In 2016, I.D. Systems recorded revenue of $36.8 million, while Keytroller generated $6.6 million in revenue and net income of $1.5 million. Keytroller has achieved average annual revenue growth of more than 25% per year over the past three years.
Unmatched Single Source of Industrial Truck Management Solutions
Keytroller has earned a reputation in the material handling industry as an innovative provider of forklift access control/monitoring systems, speed controllers, forklift scales, truck-mounted cameras, impact sensors, wireless hour meters, pedestrian safety systems, and other electronic devices. The company offers about 40 different products, providing good/better/best functionality and pricing.
By adding Keytroller’s mid-range and economy products to I.D. Systems’ market-leading Powerfleet® industrial truck management system, the combined company’s offerings form an unmatched single source of fleet management technology for industrial truck owners and operators.
The acquisition of Keytroller also gives I.D. Systems a new source of industrial truck usage data for its Powerfleet IQ® analytics database, enhancing the value of that tool for multi-site enterprises. Joining forces also opens new potential opportunities for the two companies to cross-sell to each other’s customers and consolidate and streamline product development.
Business Continuity and Growth
Because Keytroller has enjoyed profitable growth in recent years, there will be no radical changes to the way it conducts business. While I.D. Systems expects to benefit from some operational and cost synergies, Keytroller will run as an independent division led by the company’s founder, Terry Wickman.
“Acquiring Keytroller was a rare opportunity for I.D. Systems to grow inorganically in the industrial truck management business,” added Wolfe. “We expect to reap both immediate benefits—from a business already running profitably today—and long-term benefits, such as a more predictable, profitable revenue stream from a much more diverse customer base.”
“Together, we believe I.D. Systems and Keytroller are unquestionably the world’s number one provider of forklift management solutions,” concluded Wickman. “We are eager to show how easy and affordable it is to get exactly the right solution for industrial truck management—at the right price—for safer, smarter, more successful material handling operations.”
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo. The Company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to I.D. Systems’ beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond I.D. Systems’ control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include statements regarding: prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for I.D. Systems’ products to continue to develop, the possibility that I.D. Systems may not be able to integrate successfully the business, operations and employees of acquired businesses, the inability to protect I.D. Systems’ intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and other risks detailed from time to time in I.D. Systems’ filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2016. These risks could cause actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, I.D. Systems. Unless otherwise required by applicable law, I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.
I.D. Systems Contacts
Ned Mavrommatis, CFO
ned@id-systems.com
201-996-9000

Liolios Group, Inc.
Matt Glover
IDSY@liolios.com
949-574-3860
I.D. Systems, Inc.

I.D. Systems Prices $15.0 Million Underwritten Public Offering

Woodcliff Lake, NJ — July 12, 2017 — I.D. Systems, Inc. (NASDAQ: IDSY) (“I.D. Systems” or the “Company”) today announced the pricing of a $15.0 million underwritten public offering consisting of 2,608,695 shares of common stock at a price per share of $5.75. The Company has granted the underwriters a 30-day option to acquire up to 391,304 additional shares of common stock at the public offering price, less underwriting discounts and commissions. After the underwriting discounts and commissions and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $14.2 million, assuming no exercise of the over-allotment option. The Company intends to use the net proceeds from the offering to fund its acquisition of assets of Keytroller, LLC (the “Keytroller Acquisition”) and for general corporate purposes. The offering is expected to close on July 17, 2017, subject to the satisfaction of customary closing conditions.
B. Riley & Co., LLC is acting as the sole book-runner in the offering, and Lake Street Capital Markets, LLC is acting as co-manager in the offering.
The shares of common stock will be issued by I.D. Systems pursuant to a shelf registration statement on Form S-3 that was previously filed with, and declared effective by, the Securities and Exchange Commission (“SEC”). This offering may only be made by means of a prospectus supplement and the accompanying prospectus. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website located at https://www.sec.gov. The related final prospectus supplement will be filed with the SEC.  Copies of the final prospectus supplement and the accompanying base prospectus related to the offering, when available, may be obtained from B. Riley & Co., LLC, 11100 Santa Monica Blvd., Suite 800, Los Angeles, California 90025, or by telephone at (888) 295-0155, or by email at capitalmarkets@brileyco.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo.  The Company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. For more information, please visit idsy2019.wpengine.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to I.D. Systems’ beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond I.D. Systems’ control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include statements regarding: the intended use by I.D. Systems of the net proceeds from the public offering; I.D. Systems’ ability to close the pending Keytroller Acquisition; prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. The risks and uncertainties referred to above include, but are not limited to, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to both the  public offering and the Keytroller Acquisition, future economic and business conditions, the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for I.D. Systems’ products to continue to develop, the possibility that I.D. Systems may not be able to integrate successfully the business, operations and employees of acquired businesses, the inability to protect I.D. Systems’ intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and other risks detailed from time to time in I.D. Systems’ filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2016. These risks could cause actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, I.D. Systems. Unless otherwise required by applicable law, I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.

I.D. Systems to Acquire Keytroller, Strengthening Its Position in Industrial Truck Management Market and Overall Growth Outlook

Woodcliff Lake, NJ — July 11, 2017 — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of mobile asset management technology and solutions for the Industrial Internet of Things, has entered into a definitive agreement to acquire substantially all of the assets of Keytroller, LLC, a manufacturer and marketer of a wide range of electronic products for managing forklifts, construction vehicles, and other industrial equipment.
The purchase price is $9.0 million at close, consisting of $7.0 million in cash and $2.0 million in I.D. Systems common stock, plus up to $3.0 million in earn-out consideration over two years, also in I.D. Systems common stock. The acquisition of Keytroller is expected to close before the end of July, 2017, upon satisfaction of customary closing conditions.
In 2016, Keytroller generated revenue of $6.6 million and adjusted EBITDA of $1.2 million. Beginning in the third quarter of 2017, Keytroller’s results will be included as part of I.D. Systems’ industrial truck management product line.
The two companies’ market positions and distribution channels are highly complementary. I.D. Systems sells its flagship Powerfleet® industrial truck management systems primarily to large global enterprises and through lift truck manufacturers (OEMs), while Keytroller markets most of its products through a large network of lift truck dealers to small and medium-size end users. Powerfleet® rarely competes head-to-head with Keytroller devices.
By combining Keytroller’s mid-range and economy products with Powerfleet®, I.D. Systems becomes an unmatched single source of fleet management technology for industrial truck owners and operators, which the company believes will help it compete more effectively and diversify its revenue sources. The acquisition of Keytroller also gives I.D. Systems a new source of industrial truck usage data for its Powerfleet IQ® analytics database, enhancing the value of that tool for multi-site enterprises.

Preliminary Second Quarter Fiscal 2017 Revenue

For the second quarter ended June 30, 2017, I.D. Systems expects to report revenue between $10.0 million and $10.5 million. The midpoint of this estimated revenue range represents approximately 28% sequential revenue growth and 15% year-over-year. The company is scheduled to release its complete second quarter 2017 financial results and host an investor conference call after the stock market closes on August 3, 2017. Conference call details will be announced at least a week prior to the call.

Management Commentary

“We are encouraged by the organic growth reflected in our preliminary second quarter revenue—and excited by our planned acquisition of Keytroller,” said I.D. Systems CEO Chris Wolfe. “Keytroller’s business complements our industrial truck management segment incredibly well, from product mix and market position to sales cycle and customer diversification. The acquisition should contribute immediately to I.D. Systems’ revenue and profitability, as well as position the company to achieve a more predictable, profitable revenue stream from a much more diverse customer base. We look forward to integrating Keytroller’s operations smoothly into our corporate family and leveraging the benefits of this acquisition as we continue to focus on future growth.”

About I.D. Systems

Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo. The company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability.

I.D. Systems Announces Proposed Underwritten Public Offering

Woodcliff Lake, NJ — July 11, 2017 — I.D. Systems, Inc. (NASDAQ: IDSY) (“I.D. Systems” or the “Company”) today announced that it intends to offer shares of its common stock in an underwritten public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The Company intends to use the net proceeds from the offering to fund its acquisition of assets of Keytroller, LLC and for general corporate purposes.
B. Riley & Co., LLC is acting as the sole book-runner in the offering, and Lake Street Capital Markets, LLC is acting as co-manager in the offering.
The shares of common stock will be issued by I.D. Systems pursuant to a shelf registration statement on Form S-3 that was previously filed with, and declared effective by, the Securities and Exchange Commission (“SEC”). This offering may only be made by means of a prospectus supplement and the accompanying prospectus. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website located at https://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying base prospectus related to the offering, when available, may be obtained from B. Riley & Co., LLC, 11100 Santa Monica Blvd., Suite 800, Los Angeles, California 90025, or by telephone at (888) 295-0155, or by email at capitalmarkets@brileyco.com. A final prospectus supplement related to the offering will be filed with the SEC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo.  The Company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. For more information, please visit idsy2019.wpengine.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements within the meaning of federal securities laws. Forward-looking statements include statements with respect to I.D. Systems’ beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond I.D. Systems’ control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include statements regarding: prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for I.D. Systems’ products to continue to develop, the possibility that I.D. Systems may not be able to integrate successfully the business, operations and employees of acquired businesses, the inability to protect I.D. Systems’ intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and other risks detailed from time to time in I.D. Systems’ filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2016. These risks could cause actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, I.D. Systems. Unless otherwise required by applicable law, I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.

Top Global Auto Manufacturer Expands Deployment of I.D. Systems Industry-Leading Powerfleet Solution

Woodcliff Lake, NJ — June 15, 2017 — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management technology and solutions for the Industrial Internet of Things, has received $2.4 million in follow-on orders from a leading global auto maker to expand its Powerfleet® Vehicle Management System at four of the company’s manufacturing facilities in both the U.S. and Mexico.
These new orders constitute only a portion of a planned global rollout of Powerfleet at the customer’s manufacturing facilities. The customer had selected I.D. Systems as its exclusive provider of industrial truck telemetry solutions in 2015 based on superior system performance, reporting and analytics capabilities. The latest awards follow the successful implementation of Powerfleet systems at four of the company’s U.S. facilities in late 2016.
“These follow-on orders reaffirm the effectiveness of our industry-leading Powerfleet technology in improving industrial fleet efficiency, particularly around bolstering security and safety as well as reducing costs,” said I.D. Systems CEO Chris Wolfe. “Our ability to integrate seamlessly with their industrial engineering group and implement key operational data into our analytics platform played a key role in the customer’s decision to expand the deployment of our solution. We look forward to our continuing work with this customer as we drive further improvements in our analytics and fleet telematics capabilities.”
About Powerfleet® Industrial Vehicle Management Systems (VMS)
Powerfleet® VMS helps enterprises improve workplace safety by establishing accountability for the use of forklifts and other industrial trucks and ensuring compliance with OSHA regulations. Powerfleet increases safety through: impact sensing to monitor severe impacts and reduce anonymous damage; access control to restrict vehicle access to only trained operators and eliminate unauthorized use of vehicles; on-board electronic safety checklists to ensure OSHA pre-shift checklist compliance and notify maintenance of critical vehicle issues. Powerfleet helps reduce fleet maintenance costs by identifying and reporting equipment problems electronically; scheduling maintenance per actual vehicle usage rather than by calendar or manual data entry; and helping determine the optimal economic time to replace equipment. Powerfleet also helps enterprises identify their safest and most productive operators and increase operational efficiency.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo. The Company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability.

I.D. Systems Introduces Vision Pro™ Next-Generation Fleet Management Software for Industrial Vehicles

Woodcliff Lake, NJ, April 3, 2017—I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise fleet management solutions for industrial trucks and material handling equipment, has launched its latest generation of user software, Vision Pro™. The new software platform is a complete re-design of I.D. Systems’ previous generation of user software, Vision®. The release of Vision Pro continues to strengthen I.D. Systems’ technology leadership position in the material handling industry, and provides enterprises with advanced capabilities to ensure they are running the safest, most secure, and lowest cost material handling operation.
Vision Pro takes material handling telematics to an entirely new level with an exception-based, intuitive and easy to navigate user interface with advanced technologies which allow for tighter integration with WMS, ERP and maintenance software packages. Combined with Powerfleet IQ®, the industry’s best-in-class analytics platform, this one-two combination improves the timeliness and quality of operational and strategic decision making.
The new software is available as a fully hosted, cloud-based Software as a Service (SaaS) platform offering a lower total cost of ownership, or as a locally installed server-based system behind a customer’s own firewall. Vision Pro provides online user access on any device – mobile phone, tablet, or desktop – enabling users to manage their fleets and stay connected to critical operational information anytime, both on- or off-premises. With a simplified user interface, intuitive navigation, and streamlined system functionality, Vision Pro provides fleet operators better visibility of assets and an enriched user experience.
Chris Wolfe, I.D. Systems CEO, commented: “This new software release is an exciting step forward for us and our customers, and is the culmination of applying our nineteen years of industry knowledge, user feedback, and engineering capabilities to deliver the most advanced and reliable fleet management software available. The excitement our beta customers have shown tells us that our customers will love the new user experience, and will find managing their fleet and data to be easier, and simply more enjoyable. With Vision Pro, managers can do what they do best and let Vision Pro inform them when events need handling.”
Vision Pro delivers new reporting capabilities through best-in-class 3rd party embedded tools including report search, content search, advanced sorting, filtering, and graphing. Integration with Google Maps™ provides accurate visualization of asset location inside the facility, enabling managers, operators, and maintenance personnel to find vehicles faster and improve operational efficiency.
Vision Pro utilizes data collected from the Powerfleet® Vehicle Management System (VMS), consisting of an on-board device installed on material handling equipment, and user software. The on-board device collects and wirelessly transmits vehicle information including data on safety, compliance, maintenance, and efficiency. Vision Pro software provides tactical level operational information for site managers, while Powerfleet IQ® Analytics software provides a more analytical and strategic level of information for enterprise managers looking to improve operations across sites.
Come see the next generation of fleet management software at ProMat 2017 in Chicago. Visit the I.D. Systems booth #S454 to receive a demo of Vision Pro™. Or, learn more at https://www.powerfleet.com/Powerfleet/
Click here to view our Vision Pro Screen Shots
About Powerfleet® Industrial Vehicle Management Systems (VMS)
Powerfleet® VMS helps enterprises improve workplace safety by establishing accountability for the use of forklifts and other industrial trucks and ensuring compliance with OSHA regulations. Powerfleet increases safety through: impact sensing to monitor severe impacts and reduce anonymous damage; access control to restrict vehicle access to only trained operators and eliminate unauthorized use of vehicles; on-board electronic safety checklists to enforce OSHA pre-shift checklist compliance and notify maintenance of critical vehicle issues. Powerfleet helps reduce fleet maintenance costs by identifying and reporting equipment problems electronically; scheduling maintenance according to actual vehicle usage rather than by calendar or manual data entry; and helping determine the optimal economic time to replace equipment. Powerfleet also helps enterprises identify their safest and most productive operators and increase operational efficiency.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global provider of fleet management solutions for enterprises in the manufacturing, distribution, retail, and transportation industries. The company’s solutions address the needs of organizations to monitor and analyze their assets to increase safety and security, improve efficiency and productivity, and reduce costs. I.D. Systems patented technologies secure, control, track, and manage high-value enterprise assets, including industrial vehicles, rental cars, trailers, containers, and cargo. For more information, please visit idsy2019.wpengine.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements within the meaning of the federal securities laws. Forward-looking statements include statements with respect to I.D. Systems’ beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond I.D. Systems’ control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include statements regarding: prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for I.D. Systems’ products to continue to develop, the possibility that I.D. Systems may not be able to integrate successfully the business, operations and employees of acquired businesses, the inability to protect I.D. Systems’ intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and other risks detailed from time to time in I.D. Systems’ filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2016. These risks could cause actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, I.D. Systems. Unless otherwise required by applicable law, I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.

I.D. Systems Releases 2nd Generation Analytics Software Platform – Powerfleet IQ® 2.0

Woodcliff Lake, N.J. — March 29, 2017 — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise fleet management solutions for fleets of industrial trucks and material handling equipment, has released Powerfleet IQ® 2.0, the enhanced 2nd generation version of its Powerfleet IQ® Analytics software.
Since its commercial release in January 2016, Powerfleet IQ has been implemented at hundreds of Fortune 100 sites across dozens of customers representing manufacturing, distribution, warehousing, and aviation customers. The knowledge gained in these implementations combined with customer feedback, has been incorporated into Powerfleet IQ 2.0, bringing together a simpler and easier to use interface with improved visualizations to help customers make critical decisions to improve operational efficiency, damage avoidance, safety, and compliance. With streamlined report navigation and enhanced drill through capabilities, users can more readily turn insights into actionable opportunities and drive more informed decision making.
Powerfleet IQ provides managers with critical information at the site, regional, and enterprise levels, enabling easy identification of operational best practices and areas for improvement, and the ability to visualize key trends over time. Managers can perform site-by-site assessments, determine enterprise-wide benchmarks, and compare performance to peer industry standards.
Additionally, I.D. Systems is leveraging Powerfleet IQ to expand its consultative engineering and analytics services, providing custom consulting to identify opportunities and address specific challenges within customers’ operations in areas including productivity, fleet optimization, and impact analysis. I.D. Systems works with customers to develop customized programs that utilize VMS data that can be integrated and compared with 3rd party data such as ERP, WMS, Lease Management or Maintenance systems, to evaluate key operational performance and better manage their enterprise.
Powerfleet IQ utilizes data collected from the Powerfleet® Vehicle Management System (VMS), consisting of an on-board device installed on material handling equipment, and user software. The on-board device collects and wirelessly transmits vehicle information including data on safety, compliance, maintenance, and efficiency. The user software, known as Vision®, provides tactical level operational information for site managers, while Powerfleet IQ Analytics software provides a more analytical and strategic level of information for enterprise managers looking to improve operations across sites.
Dan Romary, Vice President of Data Analytics and Software at I.D. Systems, stated: “We are very pleased with the advancements we have made over the last year with Powerfleet IQ, implementing key enhancements that improve our customers’ experience. With Powerfleet IQ 2.0, our customers are better able to bridge the gap in information needed to improve safety and efficiency in their operations. With our model of continuous improvement, we look forward to further developing solutions that provide significant value to our customers.”
Please see the link at the bottom of the page to view Powerfleet IQ 2.0 dashboards.
About I.D. Systems, Inc.
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global provider of fleet management solutions for enterprises in the manufacturing, distribution, retail, and transportation industries. The company’s solutions address the needs of organizations to monitor and analyze their assets to increase safety and security, improve efficiency and productivity, and reduce costs. I.D. Systems patented technologies secure, control, track, and manage high-value enterprise assets, including industrial vehicles, rental cars, trailers, containers, and cargo. For more information, please visit idsy2019.wpengine.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements within the meaning of the federal securities laws. Forward-looking statements include statements with respect to I.D. Systems’ beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond I.D. Systems’ control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include statements regarding: prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for I.D. Systems’ products to continue to develop, the possibility that I.D. Systems may not be able to integrate successfully the business, operations and employees of acquired businesses, the inability to protect I.D. Systems’ intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and other risks detailed from time to time in I.D. Systems’ filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2016. These risks could cause actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, I.D. Systems. Unless otherwise required by applicable law, I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.
Click here to view our Powerfleet IQ Dashboards

Michael Foods, Inc. Chooses Powerfleet® VMS from I.D. Systems to Increase Material Handling Safety

Woodcliff Lake, N.J. — April 2, 2016 —I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise asset management technology and solutions for the Industrial Internet of Things, has signed a corporate agreement with Michael Foods, a leading food processor and distributor to outfit its fleet of 150 industrial trucks with the Powerfleet® Vehicle Management System provided by I.D. Systems. The company’s decision followed an extensive evaluation of several VMS providers, ultimately choosing I.D. Systems’ Powerfleet based on its advanced capabilities and analytics software.
“We are delighted to bring Michael Foods into our family of industry-leading customers who have realized exceptional value from our Vehicle Management Systems,” stated Kenneth Ehrman, CEO of I.D. Systems. “We are looking forward to helping Michael Foods implement our solutions to increase employee safety, and better understand the productivity of their material handling operations through our Powerfleet IQ® Analytics platform.”
Kelly Solmonson, Director of Warehousing for Michael Foods recognizes that the vehicle management system will create a safer work environment for industrial truck operators and other employees who work near moving vehicles. “Ensuring the safety of our employees is our top priority, and Powerfleet VMS will be a critical tool to help us maintain a safe working environment and achieve our safety goals,” stated Solmonson. “We look forward to having the ability to make sure our employees are complying with our safety policies, and operating vehicles in a safe manner.”
Powerfleet improves workplace safety in several areas including restricting access to vehicles to only trained operators, vehicle inspection checklist compliance, impact detection, monitoring and reporting unsafe driving and safety violations. Powerfleet also automatically notifies maintenance personnel of vehicles in need of repair, and locks-out vehicles that are unsafe to drive until repairs have been completed.
Michael Foods also expects to be able to identify areas where performance and productivity can be improved using Powerfleet IQ®, the analytics software component of the Powerfleet system. “Having the data and tools available to properly evaluate and improve our processes will help our operations run more efficiently and smoothly,” said Solmonson.
Powerfleet IQ enables companies to track and monitor Key Performance Indicators on an ongoing basis, compare performance across sites and to industry averages. Powerfleet IQ also helps companies optimize fleet size, develop an accurate forecast of future asset needs, and analyze fleet and operator productivity.
About I.D. Systems
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo. The Company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability.

I.D. Systems Releases 2nd Generation Analytics Software Platform – Powerfleet IQ® 2.0

Woodcliff Lake, N.J. — March 29, 2017 — I.D. Systems, Inc. (NASDAQ: IDSY), a leading provider of enterprise fleet management solutions for fleets of industrial trucks and material handling equipment, has released Powerfleet IQ® 2.0, the enhanced 2nd generation version of its Powerfleet IQ® Analytics software.
Since its commercial release in January 2016, Powerfleet IQ has been implemented at hundreds of Fortune 100 sites across dozens of customers representing manufacturing, distribution, warehousing, and aviation customers. The knowledge gained in these implementations combined with customer feedback, has been incorporated into Powerfleet IQ 2.0, bringing together a simpler and easier to use interface with improved visualizations to help customers make critical decisions to improve operational efficiency, damage avoidance, safety, and compliance. With streamlined report navigation and enhanced drill through capabilities, users can more readily turn insights into actionable opportunities and drive more informed decision making.
Powerfleet IQ provides managers with critical information at the site, regional, and enterprise levels, enabling easy identification of operational best practices and areas for improvement, and the ability to visualize key trends over time. Managers can perform site-by-site assessments, determine enterprise-wide benchmarks, and compare performance to peer industry standards.
Additionally, I.D. Systems is leveraging Powerfleet IQ to expand its consultative engineering and analytics services, providing custom consulting to identify opportunities and address specific challenges within customers’ operations in areas including productivity, fleet optimization, and impact analysis. I.D. Systems works with customers to develop customized programs that utilize VMS data that can be integrated and compared with 3rd party data such as ERP, WMS, Lease Management or Maintenance systems, to evaluate key operational performance and better manage their enterprise.
Powerfleet IQ utilizes data collected from the Powerfleet® Vehicle Management System (VMS), consisting of an on-board device installed on material handling equipment, and user software. The on-board device collects and wirelessly transmits vehicle information including data on safety, compliance, maintenance, and efficiency. The user software, known as Vision®, provides tactical level operational information for site managers, while Powerfleet IQ Analytics software provides a more analytical and strategic level of information for enterprise managers looking to improve operations across sites.
Dan Romary, Vice President of Data Analytics and Software at I.D. Systems, stated: “We are very pleased with the advancements we have made over the last year with Powerfleet IQ, implementing key enhancements that improve our customers’ experience. With Powerfleet IQ 2.0, our customers are better able to bridge the gap in information needed to improve safety and efficiency in their operations. With our model of continuous improvement, we look forward to further developing solutions that provide significant value to our customers.”
Please see the link at the bottom of the page to view Powerfleet IQ 2.0 dashboards.
About I.D. Systems, Inc.
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global provider of fleet management solutions for enterprises in the manufacturing, distribution, retail, and transportation industries. The company’s solutions address the needs of organizations to monitor and analyze their assets to increase safety and security, improve efficiency and productivity, and reduce costs. I.D. Systems patented technologies secure, control, track, and manage high-value enterprise assets, including industrial vehicles, rental cars, trailers, containers, and cargo. For more information, please visit idsy2019.wpengine.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements within the meaning of the federal securities laws. Forward-looking statements include statements with respect to I.D. Systems’ beliefs, plans, goals, objectives, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond I.D. Systems’ control, and which may cause its actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. For example, forward-looking statements include statements regarding: prospects for additional customers; potential contract values; market forecasts; projections of earnings, revenues, synergies, accretion or other financial information; emerging new products; and plans, strategies and objectives of management for future operations, including growing revenue, controlling operating costs, increasing production volumes, and expanding business with core customers. The risks and uncertainties referred to above include, but are not limited to, future economic and business conditions, the loss of key customers or reduction in the purchase of products by any such customers, the failure of the market for I.D. Systems’ products to continue to develop, the possibility that I.D. Systems may not be able to integrate successfully the business, operations and employees of acquired businesses, the inability to protect I.D. Systems’ intellectual property, the inability to manage growth, the effects of competition from a variety of local, regional, national and other providers of wireless solutions, and other risks detailed from time to time in I.D. Systems’ filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2016. These risks could cause actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, I.D. Systems. Unless otherwise required by applicable law, I.D. Systems assumes no obligation to update the information contained in this press release, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.
Click here to view our Powerfleet IQ Dashboards

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