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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 (Nasdaq: CAMP) announced a partnership with Bristlecone to enhance supply chain visibility through AI-powered analytics and edge computing. This collaboration aims to develop solutions utilizing CalAmp’s data-driven sensors and Bristlecone’s expertise in supply chain transformation. The partnership will help enterprises improve logistics efficiency, prevent losses, and optimize costs, particularly for perishable goods. CalAmp's ecosystem, which includes various industry partners, will further support this initiative, enabling smart tracking and real-time decision-making in complex supply chains.
CalAmp (Nasdaq: CAMP) announced the appointment of Wes Cummins to its Board of Directors, effective immediately. Cummins, the CEO of B. Riley Asset Management, brings over 20 years of experience in technology investment. This move reflects CalAmp's commitment to integrating shareholder perspectives as it continues its transformation and focuses on profitability in the telematics sector. Cummins expressed enthusiasm about enhancing the company’s strategic direction during this pivotal period.
CalAmp (Nasdaq: CAMP) has partnered with assured Techmatics to offer the apollo Electronic Logging Device (ELD) solution. This device aids commercial fleet operators in complying with transportation regulations in the U.S., Canada, and Mexico. The apollo ELD ensures accurate tracking of Hours of Service (HOS), vehicle inspections, and fuel usage, enhancing safety and compliance. Approved by regulatory bodies, the system integrates vital data with CalAmp’s SaaS and PaaS solutions, benefiting fleet managers and drivers by improving operational efficiency and road safety.
CalAmp (Nasdaq: CAMP) will release its fiscal 2023 first quarter financial results post-market on June 23, 2022. The company will also host a conference call at 5:00 p.m. Eastern time the same day to discuss these results. Interested investors can access the call via webcast or by phone using the provided conference ID. CalAmp provides a data-driven solutions ecosystem aiming to enhance operational performance for organizations in sectors like transportation and logistics, with over one million software subscribers and 10 million edge devices deployed globally.
CalAmp (Nasdaq: CAMP) announced the appointment of Brennen Carson as Chief Revenue Officer (CRO) to enhance growth in the transportation and logistics market. Carson, with over 15 years of experience in SaaS sales, previously served as Senior VP of Sales at Idelic, where he significantly increased revenue. His appointment aims to accelerate revenue streams and implement customer-centric sales strategies. CEO Jeff Gardner remarked on Carson's expertise in fleet telematics as a great asset for driving revenue growth.
CalAmp (Nasdaq: CAMP) has announced the election of Henry Maier as the new Independent Chair of its Board of Directors, effective from the 2022 Annual Meeting. Maier succeeds Amal Johnson, who will not seek re-election. With over 40 years in the transportation industry, including leadership at FedEx Ground, Maier brings valuable insights and experience. He aims to guide CalAmp’s growth and innovation strategies, focusing on the opportunities within the evolving transportation and logistics market. Johnson expressed confidence in CalAmp's leadership moving forward.
CalAmp (Nasdaq: CAMP) announced the launch of its Supply Chain Visibility solution through its subsidiary, Tracker Network, for pan-European logistics operators. This real-time cargo tracking system is crucial for high-value and high-risk shipments, particularly in industries like pharmaceuticals and food. The solution leverages wireless sensors to monitor shipment conditions and offers compliance documentation. It aims to enhance supply chain efficiency and reduce spoilage, addressing challenges highlighted during the pandemic.
CalAmp (Nasdaq: CAMP), a leader in connected intelligence, announced that CEO Jeff Gardner and CFO Kurt Binder will meet with investors at Oppenheimer’s 7th Annual Emerging Growth Conference on May 10, 2022. This virtual event aims to enhance operational performance through a data-driven solutions ecosystem. Portfolio managers and analysts interested in scheduling meetings should contact their Oppenheimer representative. CalAmp delivers solutions that monitor and recover essential assets across multiple sectors, boasting over one million software subscribers and ten million edge devices deployed worldwide.
CalAmp (Nasdaq: CAMP) announced that 272 Capital Master Fund Ltd. has nominated six candidates for election to its Board of Directors at the upcoming 2022 Annual Meeting. This comes amid the company’s ongoing transformation from a telematics-based business to a software and subscription services model. CalAmp reported a significant increase in Software and Subscription Services revenue, which rose 19% year-over-year in Q4 2022, now representing 60% of total revenues. The Board is reviewing the nominees while emphasizing its commitment to shareholder value creation and ongoing engagement with stockholders.
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