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CalAmp Corp. (Nasdaq: CAMP) is a pioneering leader in the Internet of Things (IoT) revolution, offering a rich portfolio of intelligent communication devices, a robust cloud platform, and bespoke software applications. The company specializes in helping customers optimize their operations by collecting, monitoring, and efficiently reporting critical data and intelligence from high-value remote assets.
With over five million devices connected to its IoT cloud, CalAmp serves a diverse range of markets including transportation, oil and gas, and public safety. The company’s technology enables organizations to make actionable decisions based on mission-critical data. Its Telematics Systems segment provides Mobile Resource Management (MRM) products and applications, while the Software & Subscription Services segment delivers cloud-based application enablement and telematics service platforms.
Recent achievements highlight CalAmp's commitment to innovation and financial stability. In its latest financial quarter, the company generated a positive cash flow from operations amounting to $7.1 million and achieved a robust Adjusted EBITDA of $5.9 million. New product releases such as Vision 2.0 and ELD solutions have been key drivers of growth. Furthermore, CalAmp recently secured a $45 million term loan to support its transformative business strategies.
CalAmp's strategic initiatives include a focus on enhancing operational efficiencies and capturing new market opportunities, despite facing revenue headwinds in specific segments like TSP. The company continues to work closely with its partners to navigate competitive pressures and align inventory levels with market demand.
Looking forward, CalAmp aims to return to profitable growth by leveraging its strong product portfolio, including over 10 million active edge devices and more than 275 approved or pending patents. The company’s significant investment in R&D ensures that it remains at the forefront of telematics innovation, providing dependable solutions that improve efficiency, safety, and compliance for both commercial and government organizations worldwide.
For more information, please visit www.calamp.com.
CalAmp's subsidiary, Tracker, has partnered with Stoneacre Motor Group to address rising vehicle theft in the U.K. This partnership offers a Stolen Vehicle Recovery (SVR) service for customers, crucial as keyless car thefts increased by 27% over five years. Tracker aims to enhance customer loyalty by providing advanced security solutions. Stoneacre emphasizes family values and customer satisfaction, while introducing interest-free payment options for these services, making security accessible to all buyers. Tracker, supported by U.K. police, has recovered over £559 million in stolen vehicles.
CalAmp (Nasdaq: CAMP) announced the acquisition of its LoJack U.S. Stolen Vehicle Recovery business by Spireon, enhancing Spireon's position in aftermarket telematics while allowing CalAmp to focus on its SaaS initiatives. The deal ensures customer transition and service continuity, aligning with CalAmp's strategic goals. Spireon's Kahu technology will provide added value for auto dealers, improving service retention and recovery rates. CalAmp retains the LoJack International business and its patents, with further transaction details to be disclosed in an 8-K.
CalAmp (Nasdaq: CAMP) announces that Molly Maid, a leading residential cleaning franchise, has adopted the CalAmp iOn™ fleet tracking solution. This technology enhances real-time visibility into fleet activity, improving scheduling and customer service, especially during the pandemic. Over 500 Molly Maid vehicles are equipped with this GPS-based system, allowing for better routing and efficiency. Franchise owners report improved customer experiences and operational efficiency thanks to this partnership, which also adapts to shifting safety requirements.
CalAmp (Nasdaq: CAMP) has launched a new user-friendly interface for its iOn fleet and asset management solution, aimed at enhancing operational efficiencies for commercial, government, and construction sectors. This upgraded interface improves data accessibility, allowing fleet managers to make quicker, more informed decisions. Key features include real-time data insights, improved workflow efficiency, and an intuitive design that minimizes navigation difficulties. CalAmp aims to address common challenges faced by fleet operators, thereby driving cost savings and safety.
Alarm.com (Nasdaq: ALRM) has launched a new service called Connected Car, developed in partnership with CalAmp (Nasdaq: CAMP), allowing users to integrate vehicle status and home automation through a single mobile app. Compatible with most cars made since 1996, this device offers features like vehicle diagnostics, driving behavior monitoring, and theft alerts. Users can automate home functions based on the vehicle's location, enhancing security and convenience. Connected Car is available through authorized service providers in the U.S. and Canada.
CalAmp (Nasdaq: CAMP) has announced that Atlanta Public Schools (APS) will adopt its Here Comes The Bus school bus tracking technology. This solution will assist APS in managing the transportation of approximately 11,708 students across 66 schools using over 400 buses. The technology aims to enhance student safety and improve transportation efficiency. The Here Comes The Bus app is already utilized by around 330 school districts in North America and has received multiple awards for its innovation.
CalAmp (Nasdaq: CAMP) and Localiza, South America's largest car rental operator, have signed a multi-year agreement aimed at revolutionizing the car rental experience in Brazil. This partnership builds on a collaboration that began in 2015, where Localiza equipped thousands of vehicles with CalAmp's telematics technology. The initiative will enhance fleet management through AI-enabled technology, improve operational efficiency, and introduce a subscription-based rental program, potentially increasing customer access and satisfaction.
CalAmp (Nasdaq: CAMP) has introduced a new usage-based insurance (UBI) solution via its subsidiary Tracker, aimed at enhancing customer experiences. The solution features a self-installed Bluetooth Low Energy (BLE) tag and a smartphone app that track driver behavior and provide crash detection alerts. This technology allows insurers to offer a branded service while ensuring data privacy and accurate trip recording. The app aims to lower insurance premiums for safe drivers, improving risk management in the insurance sector.
CalAmp (Nasdaq: CAMP) announced participation in the 23rd Annual Needham Growth Conference on January 14, 2021. CEO Jeff Gardner and CFO Kurt Binder will present virtually at 1:15 PM PT. They will be available for investor meetings throughout the day. Investors can request meetings via email, and a live webcast will be accessible in the Investor Relations section of CalAmp's website. With over 20 million products installed globally, CalAmp is a leader in transforming the mobile connected economy.
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