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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 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.
CalAmp (Nasdaq: CAMP) introduced the SC1302 smart tracking device capable of monitoring temperatures as low as -20°C, aimed at ensuring safe transport of COVID-19 vaccines and other sensitive goods. The device integrates with CalAmp's SC iOn™ Supply Chain Visibility software for real-time monitoring throughout the supply chain. The new sensor meets critical compliance requirements and enhances shipment tracking and data collection. Initial shipments are expected in the first half of 2021, showcasing CalAmp's commitment to supporting critical logistics in today's healthcare landscape.
CalAmp (NASDAQ: CAMP) has partnered with Hendy, a car retail group in England, to offer a Stolen Vehicle Recovery (SVR) device from Tracker to its customers. This Thatcham-approved device aims to protect vehicles against theft, particularly keyless theft, which accounted for 93% of stolen vehicles in 2020. Tracker, with its advanced VHF and GPS technology, aids in the recovery of stolen vehicles, boasting over £561 million recovered and a monthly average of £1 million. This partnership enhances customer service and retention while providing a new revenue stream for Hendy.
CalAmp (Nasdaq: CAMP) will release its fiscal 2021 fourth quarter and full year results on April 22, 2021, after market close. The company will host a conference call at 4:30 p.m. Eastern to discuss the financial outcomes, accessible via webcast on their investor relations website. Participants can also join by calling 1-833-714-0868. An audio replay will be available until April 29, 2021. CalAmp, a leader in the mobile connected economy, provides innovative solutions for IoT deployments, boasting over 20 million products installed globally.
CalAmp (Nasdaq: CAMP) has announced the appointment of Henry J. Maier, CEO of FedEx Ground, to its Board of Directors, effective June 1, 2021. Maier brings over 40 years of experience, including significant roles at FedEx Corp., where he spearheaded the strategic direction of a $22.7 billion subsidiary. His seating on the board is seen as a strategic move to strengthen CalAmp's presence in the transportation and logistics markets. Both CalAmp's leadership and Maier expressed enthusiasm for leveraging telematics solutions to enhance fleet safety and performance.
CalAmp (Nasdaq: CAMP) announces a new partnership between its subsidiary, LoJack Italia, and CGTE, a leading dealer for Caterpillar machinery in Italy. This strategic agreement marks LoJack's entry into heavy equipment asset management in Italy. LoJack will install its dual technology Stolen Vehicle Recovery system and telematics devices on over 4,000 CGTE assets, enhancing theft protection and real-time data collection for fleet management. The collaboration aims to improve service quality and asset utilization for CGTE, strengthening both companies' positions in the connected economy.
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