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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 the launch of CalAmp iOn by its subsidiary LoJack Italia in Italy on September 13, 2021. This comprehensive fleet and asset management solution aims to enhance operational efficiency, reduce costs, and improve fleet safety for various sectors, including transportation and government. Key features include real-time data insights, intuitive dashboards, and safety reports. The iOn suite has received industry recognition, being named among the 2020 Contractors' Top 50 New Products and winning the 2021 IoT Evolution Product of the Year award.
CalAmp (Nasdaq: CAMP) announced it will release its fiscal 2022 second quarter financial results on September 23, 2021, after market close. A conference call will follow at 5:00 p.m. Eastern to discuss these results, accessible via their website or by dialing 1-833-714-0868. The call's replay will be available until September 30, 2021. As a connected intelligence company, CalAmp provides insights for various industries to optimize asset management.
CalAmp (Nasdaq: CAMP) announced its support for the back-to-school season with the Bus Guardian contact tracing solution, aimed at improving safety during the COVID-19 pandemic. This IoT solution is now adopted by over 200 school districts in North America, enhancing real-time visibility for school bus ridership and hygiene verification. An additional 14 districts are set to implement the solution as schools reopen. CalAmp continues to invest in technologies that address pandemic challenges, focusing on safety and effective management of student transportation.
CalAmp (Nasdaq: CAMP), a leader in connected intelligence, announced participation at the Jefferies Semiconductor, IT Hardware & Communications Infrastructure Summit on August 31, 2021. CEO Jeff Gardner and CFO Kurt Binder will engage in virtual meetings with investors during this event. The summit is an opportunity for portfolio managers and analysts to request meetings with management through their Jefferies representatives. CalAmp aims to provide real-time visibility and insights across various industries, supporting asset tracking and monitoring.
CalAmp (Nasdaq: CAMP) has launched its new iOn™ Xtreme Temperature Tag, designed for precise temperature monitoring of sensitive assets, operating in extreme conditions from -270 to 400 degrees Celsius. This innovative smart sensor tag is ideal for tracking pharmaceuticals, vaccines, and biological materials throughout the supply chain. Integrated with the CalAmp Telematics Cloud™, it provides real-time visibility and data communication, enhancing supply chain integrity. Partnering with Overhaul, CalAmp ensures end-to-end monitoring for pharmaceutical customers.
CalAmp (Nasdaq: CAMP) has announced that its stolen vehicle recovery (SVR) solutions have successfully recovered over $1.5 billion worth of vehicles globally, marking a significant milestone in the company's 40th anniversary year. This includes £563 million by Tracker in the UK, €290 million by LoJack Italia, and over $8 billion (MXN) by LoJack Mexico. Keyless car theft remains a major concern, with sophisticated methods being used worldwide. CEO Jeff Gardner emphasized the importance of their connected car solutions in enhancing security and preventing losses.
CalAmp (Nasdaq: CAMP), a connected intelligence company based in Irvine, California, will participate in two upcoming virtual conferences. The first is the Oppenheimer Technology, Internet & Communications Conference on August 10, 2021, featuring 1x1 calls with management. The second is the Canaccord Genuity Annual Growth Conference on August 12, 2021, which includes a fireside chat at 7:30 a.m. PT and additional 1x1 calls. The company's presentations will be webcast live and archived on their investor relations website.
CalAmp (Nasdaq: CAMP) announced a partnership between its subsidiary LoJack Italia and the Koelliker Group, focusing on the integration of LoJack Connect technology into the new MAXUS eDELIVER 3 and eDELIVER 9 electric commercial vehicles sold in Italy. This collaboration aims to enhance vehicle safety and efficiency through real-time monitoring and diagnostics. The LoJack app will assist drivers in optimizing their routes and maintaining vehicle health, while offering crash response services. This strategic move into electric vehicles marks a significant expansion for CalAmp in the telematics sector.
CalAmp (Nasdaq: CAMP) announced that its CalAmp iOn fleet and asset management solution has won the 2021 IoT Evolution Product of the Year Award. This prestigious recognition highlights the innovative solutions within the IoT sector. The CalAmp iOn system provides flexible and enriched data insights for fleet management, aiming to improve efficiency, reduce costs, and enhance safety. Its user-friendly interface empowers fleet operators with actionable data, real-time alerts, and maintenance management features.
CalAmp (Nasdaq: CAMP) has appointed Richard Scott as senior vice president, general counsel, and secretary. With over 25 years of experience in legal affairs across various sectors, Scott had a notable role at Verra Mobility Corp., where he contributed to nearly $300 million in annual revenue. His expertise in fleet industry law and global expansion aligns with CalAmp's goals in connected vehicle technology. CEO Jeff Gardner expressed confidence in Scott's ability to strengthen the company's legal operations and support its growth strategies.
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