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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) provided a business update regarding supply chain constraints and the transition to software subscriptions. CEO Jeff Gardner announced a 10% decline in projected revenues for Q3 FY2022, ending November 30, due to reduced telematics product shipments and lower software revenues from a completed retrofit project. Despite short-term challenges, customer demand remains strong, with ongoing progress in transitioning telematics clients to subscription-based contracts. Financial results will be disclosed on December 21, 2021.
CalAmp (Nasdaq: CAMP), a leader in connected intelligence, announced participation in two upcoming virtual investor conferences:
- Craig-Hallum 12th Annual Alpha Select Conference on November 16, 2021, featuring 1x1 conference calls with management.
- ROTH 10th Annual Technology Event on November 18, 2021, also with management calls.
Portfolio managers and analysts can arrange calls through their sales representatives or CalAmp's investor relations.
CalAmp (Nasdaq: CAMP) announced a partnership with FAIRWAYiQ to integrate its CalAmp Telematics Cloud and edge devices into FAIRWAYiQ's golf course management platform. This collaboration enables real-time tracking and monitoring of golf carts, optimizing course operations and player experiences. Key features include GPS-enabled tracking devices for location monitoring, Bluetooth Low Energy key fobs for identification, and geofencing capabilities to protect turf. This deployment not only enhances operational efficiency but also reduces costs for golf course operators, demonstrating the versatility of CalAmp's solutions.
On October 6, 2021, CalAmp (NASDAQ: CAMP) announced the launch of its iOn™ fleet and asset management software in the U.K. through its subsidiary Tracker Network (UK) Limited. The software provides commercial fleet operators with tools to improve driver behavior tracking and asset management from a single platform. Key benefits include enhanced workflow efficiency, improved safety measures, cost savings, and better visibility of assets. The launch reflects CalAmp's commitment to expanding its innovative solutions internationally, following successful implementations in the U.S.
CalAmp (Nasdaq: CAMP) reported Q2 fiscal 2022 revenues of $79 million, a 6% increase year-over-year, driven by a record $41 million in Software and Subscription Services (S&SS) revenue, up 24%. However, Telematics Products revenue declined by 16% due to supply chain issues. Gross margin improved to 42%, while the net loss narrowed to $5.4 million, or $0.15 per share. Adjusted EBITDA was $8.3 million, representing 11% of revenue. The company ended with $101.1 million in cash and 988,640 S&SS subscribers, a 4% increase. The outlook remains uncertain due to ongoing global component shortages.
CalAmp (Nasdaq: CAMP) has partnered with Hyundai Translead to introduce HT LinkSense, a groundbreaking open-platform smart trailer solution. This technology provides fleet operators with enhanced visibility into trailer health, usage, and safety, addressing current supply chain constraints. The solution integrates various sensors to deliver real-time data through the CalAmp iOn™ application, improving operational efficiencies. Key features include Tire Pressure Monitoring System (TPMS) and Wheel End Temperature Systems (WETS), which aim to enhance safety and maximize resource utilization.
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.
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