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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 (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.
CalAmp (Nasdaq: CAMP) announced the retirement of directors A.J. 'Bert' Moyer and Larry Wolfe, effective after the Annual Meeting of Stockholders on July 28, 2021. Moyer has been on the board for over 16 years, and Wolfe for over 12 years, contributing to corporate governance and strategic transformation. Two new directors, Kirsten Wolberg and Henry Maier, have been appointed, bringing extensive experience in SaaS and logistics. This leadership change aims to enhance board diversity and support CalAmp's transition to a SaaS telematics leader.
CalAmp (Nasdaq: CAMP) announced a partnership between its subsidiary LoJack Italia and Program Autonoleggio, a major corporate fleet rental company in Italy. This collaboration aims to enhance fleet safety with advanced telematics solutions, including the LoJack® Connect platform for vehicle theft prevention, collision response, and preventative maintenance. Solutions like CrashBoxx™ provide real-time crash notifications and data, while MESH technology tracks stolen vehicles effectively. This partnership fortifies LoJack Italia's position as a leader in asset protection in Italy.
CalAmp (Nasdaq: CAMP) announced that its President and CEO, Jeff Gardner, along with CFO Kurt Binder, will participate in the 16th Annual Needham Tech & Media Conference on May 19, 2021, at 6:30am PT. This virtual event will allow management to engage with investors throughout the day. Interested portfolio managers and analysts can request meetings via email. A live webcast and archived presentation will be available on CalAmp's website.
CalAmp (Nasdaq: CAMP) announced the adoption of its Bus Guardian solution by the Marietta School District for effective contact tracing amid the COVID-19 pandemic. Transportation Director Kimberly Ellis emphasized the platform's vital role in managing COVID-19 risks and ensuring communication with parents regarding student safety. The district is utilizing CalAmp's technology on nearly 100 buses, enhancing communication and monitoring capabilities. Additionally, CalAmp recognized Tim Cribley as the first Bus Guardian Hero for his commitment to student safety.
CalAmp (CAMP) reported its Q4 and fiscal year 2021 results with consolidated revenue from continuing operations at $81.9 million for Q4 and $308.6 million for the year, excluding LoJack revenue. The fourth-quarter Software & Subscription Services (S&SS) revenue was $34.7 million, contributing 42.3% to total revenue. A net loss of $3.2 million was reported, with adjusted net income at $4.8 million. CalAmp plans to focus on expanding its SaaS solutions amid supply chain challenges but maintains a strong backlog. Cash and equivalents totaled $94.6 million.
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