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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) 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.
CalAmp reported a 19% increase in Software and Subscription Services revenue year-over-year, reaching $41 million, representing 60% of total revenue. Remaining Performance Obligations rose 47% to $200 million
However, total revenue for the fourth quarter was $68.4 million, slightly down from the prior quarter, and annual revenue decreased from $308.6 million to $295.8 million. The company reported a GAAP net loss of $9.2 million for the quarter and $31.1 million for the year.
CalAmp (Nasdaq: CAMP) announced it will release its fiscal 2022 fourth quarter and full-year financial results on April 28, 2022, after market close. The company will host a conference call to discuss these results at 5:00 p.m. Eastern Time, accessible via webcast or by dialing in. CalAmp specializes in connected intelligence, helping businesses track and recover assets through real-time insights. The company supports various sectors including transportation, logistics, and automotive, boasting over one million subscribers and 20 million products deployed globally.
CalAmp (Nasdaq: CAMP) has announced the promotion of Brett Jackson to senior vice president of transportation and logistics. In his new role, Jackson will lead the sales team and revenue generation strategies while reporting to interim Chief Revenue Officer Maurizio Iperti. Since joining CalAmp in 2021, Jackson has expanded partnerships and focused on SaaS solutions for fleet operators to enhance cost efficiency and productivity. The company aims to leverage its edge-to-cloud telematics platform for better asset management in the transportation sector.
CalAmp (Nasdaq: CAMP) has partnered with Noregon to enhance remote vehicle diagnostics and predictive maintenance for fleet operators. This collaboration integrates CalAmp's iOn fleet management software with Noregon's TripVision, enabling proactive alerts for vehicle issues and optimized maintenance decisions. The predictive health scores will help reduce maintenance costs and prevent costly breakdowns, thereby improving fleet performance and operational efficiency. This partnership aims to ensure greater safety and productivity for fleet operators.
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