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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 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.
CalAmp (Nasdaq: CAMP) announced a strengthened partnership with NG Bailey to enhance fleet safety and efficiency. Tracker Network (UK) Limited, a CalAmp subsidiary, will implement new dashcam technology across NG Bailey's 240 service vans. This initiative aims to reduce accidents and insurance costs while improving driver behavior, with previous telematics already achieving a 65% reduction in incidents. The collaboration aims to further decrease fuel usage and maintenance costs, showcasing the benefits of innovative fleet management solutions.
Toyota Spain has partnered with LoJack España, a subsidiary of CalAmp, to enhance stolen vehicle recovery services for its customers. The collaboration will allow Toyota's dealer network to market LoJack SVR services directly, utilizing advanced tracking technology capable of functioning in challenging environments. The service aims to improve customer security and offers 24/7 support from a dedicated control center. This partnership also extends to Toyota's leasing and insurance services, further integrating LoJack into their offerings for various models.
CalAmp has appointed Mark Gaydos as its new chief marketing officer, effective immediately. Gaydos, with over 25 years of experience in enterprise software marketing, will oversee the company's global marketing strategy and efforts to boost demand for its connected intelligence solutions. His previous roles include leading marketing at Nlyte Software and Engine Yard, where he achieved significant revenue growth. CalAmp aims to enhance its position as a leading software-as-a-service provider in the transportation and logistics sectors, capitalizing on increasing cloud-connected operations.
CalAmp (Nasdaq: CAMP) announced that its President and CEO, Jeff Gardner, along with CFO Kurt Binder, will present at the 24th Annual Needham Growth Conference on January 11, 2022, at 2:45 a.m. ET. The event will be held virtually, allowing management to engage with investors throughout the day. Interested parties can request a meeting via email. A live webcast and archived presentation will be available on CalAmp's Investor Relations website following the event. CalAmp specializes in providing connected intelligence solutions across various industries.
CalAmp (CAMP) has appointed Basudeb Chatterjee as Chief Digital Information Officer (CDIO). With over 15 years of experience in digital transformations across industries, Chatterjee will oversee IT functions globally, focusing on data, infrastructure, and information security. His role includes guiding technology adoption and enhancing CalAmp's connected intelligence solutions. CEO Jeff Gardner expressed confidence in Chatterjee's ability to drive innovations that will strengthen competitiveness. Chatterjee aims to foster agile teams dedicated to maximizing the value of CalAmp's SaaS offerings.
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