A powered fastener driver includes a housing, a nosepiece extending from the housing, a driver blade movable within the nosepiece between a top-dead-center (TDC) position and a bottom-dead-center (BDC) position, a piston coupled to the driver blade for movement therewith, a driver cylinder within which the piston is movable and in fluid communication with a pressurized gas acting on the piston, a magazine coupled to the nosepiece in which collated fasteners are receivable, a fastener delivery mechanism for loading individual fasteners into the nosepiece from the magazine, and a lifter assembly including a lifter housing, a drive shaft rotatably disposed within the lifter housing, a lifter sprocket disposed on the drive shaft for moving the driver blade from the BDC position toward the TDC position, and a cam rotatable in response to rotation of the drive shaft for actuating the fastener delivery mechanism.