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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 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.
CalAmp (CAMP) reported its Q1 FY2022 results, showing total revenue growth to $80.5 million, aided by a record $35.0 million in Software and Subscription Services, a 26.2% year-over-year increase. The company's gross margin was 40.7%, while net loss from continuing operations was $6.0 million, or $0.17 per share. Despite supply chain challenges, demand remains strong, particularly from its largest customer with a 58.9% revenue increase. The firm ended the quarter with $96.2 million in cash. Outlook remains cautious due to ongoing global component shortages.
CalAmp's subsidiary Tracker has teamed up with cap hpi to assist car dealers in the UK in uncovering hidden revenue streams. By conducting ownership checks, dealers will be informed if a vehicle has a Tracker stolen vehicle recovery (SVR) device. This allows them to offer Tracker SVR subscription services to new owners, enhancing customer loyalty and creating additional income without device purchases. With one in three cars checked revealing such opportunities, the collaboration aims to boost sales and improve customer experience in the post-lockdown market.
CalAmp (Nasdaq: CAMP) has announced a partnership between its subsidiary, LoJack Italia, and the Koelliker Group to enhance the SERES 3 electric C-SUV. This collaboration will see all SERES 3 vehicles equipped with LoJack Connect technology, offering real-time tracking, maintenance alerts, and emergency assistance. Key features include crash response services and a Driving Style score to promote safe driving habits. The initiative aims to bolster vehicle safety and reduce environmental impact while providing Koelliker with a dedicated SmartDealer portal for proactive maintenance support.
CalAmp (Nasdaq: CAMP) has scheduled the release of its fiscal 2022 first quarter financial results for June 24, 2021, after the market closes. A conference call will take place at 4:30 p.m. Eastern on the same day to discuss these results. Investors can access the call via webcast or by dialing a designated number. The company aims to provide insights into its business performance, with a focus on its role in connected intelligence across various industries.
CalAmp (Nasdaq: CAMP) has launched LoJack España, a subsidiary focused on providing advanced vehicle theft protection and connected car services in Spain. With vehicle theft rates in Spain estimated at 100 cars daily, LoJack España aims to enhance recovery rates through innovative MESH technology. The subsidiary will serve automotive dealers, insurers, and rental companies, offering tools such as SmartDealer™ for customer relationship management. José Ignacio Rubio has been appointed Country Director to lead expansion efforts in Spain and Portugal.
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