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CalAmp Corp. - CAMP STOCK NEWS

Welcome to our dedicated page for CalAmp news (Ticker: CAMP), a resource for investors and traders seeking the latest updates and insights on CalAmp stock.

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.

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CalAmp (Nasdaq: CAMP) has announced a Restructuring Support Agreement (RSA) with Lynrock Lake Master Fund LP, its principal secured lender, to significantly reduce debt and take the company private. Lynrock will exchange approximately $229 million of Convertible Senior Secured Notes into equity interests, becoming the principal equity owner. Despite the Chapter 11 filing, operations will continue without disruption. This move aims to enhance financial flexibility, allowing CalAmp to invest in innovation and support evolving customer needs. The restructuring plan is expected to navigate swiftly with court approval, reinforcing CalAmp's financial health and operational capabilities.

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CalAmp has launched Dispatch Monitor, a new application that integrates with their K-12 suite of solutions, aimed at improving school bus fleet management. The application provides real-time route coverage visibility, enhances driver efficiency, and prioritizes student safety. Dispatch Monitor offers tools to streamline operations and optimize transportation experiences for both students and administrators.

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CalAmp (CAMP) grants inducement restricted and performance stock unit awards to its CEO under the 2023 Employment Inducement Incentive Award Plan. The awards cover 65,218 shares of common stock and vest over a three-year period. This move aims to attract and retain top talent in the company.
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CalAmp (Nasdaq: CAMP) reported a 13% QoQ and 32% YoY decline in revenue for the third quarter of fiscal year 2024. Gross margin declined by 340 bps QoQ and 100 bps YoY. Adjusted EBITDA was $1.0 million, a $4.8 million QoQ and $3.7 million YoY decline. GAAP net loss from continuing operations was $85 million. The company ended the quarter with $38.2 million in cash and cash equivalents, down $400K QoQ.
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CalAmp (Nasdaq: CAMP) announces the appointment of Chris Adams as the new President and CEO, effective January 22, 2024. Adams brings a wealth of knowledge and experience in technology, semiconductor, hardware, and software solutions. He is expected to lead the company through its transformation and drive profitable growth in the telematics industry.
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CalAmp (CAMP) to release fiscal 2024 third quarter financial results on January 9, 2024, and host a conference call to discuss the results. The webcast will be available on the Investor Relations section of CalAmp's website.
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CalAmp (Nasdaq: CAMP) closes a $45 million term loan for business transformation
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CalAmp grants inducement restricted stock unit awards to new non-executive employees
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CalAmp reports Q2 financial results with a decline in total revenue and gross margin. Adjusted EBITDA increased year over year. The company is exploring options to address the non-compliance with Nasdaq stock price requirements.
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CalAmp will release its fiscal 2024 Q2 financial results on October 5, 2023, and host a conference call to discuss the results. Webcast and dial-in options available.
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FAQ

What does CalAmp Corp. specialize in?

CalAmp Corp. specializes in the Internet of Things (IoT) by offering intelligent communication devices, a cloud platform, and software applications to optimize operations for various industries.

Which markets does CalAmp serve?

CalAmp serves diverse markets including transportation, oil and gas, public safety, government, construction, and automotive industries.

What are the main segments of CalAmp's business?

CalAmp's business is divided into two main segments: Telematics Systems, which offers Mobile Resource Management products, and Software & Subscription Services, which provides cloud-based applications and telematics service platforms.

How many devices are connected to CalAmp's IoT cloud?

CalAmp has over five million devices connected to its IoT cloud.

What recent financial performance highlights has CalAmp reported?

In the recent financial quarter, CalAmp reported a positive cash flow from operations of $7.1 million and an Adjusted EBITDA of $5.9 million.

What new products has CalAmp recently launched?

Recent product launches from CalAmp include Vision 2.0 and ELD solutions, aimed at driving growth in its target markets.

How is CalAmp handling current market challenges?

CalAmp is navigating market challenges by aligning inventory levels with demand, implementing cost efficiency measures, and focusing on strategic growth opportunities.

What is CalAmp’s long-term strategy?

CalAmp's long-term strategy involves enhancing operational efficiencies, investing in R&D, and maintaining its leadership in the telematics space to drive profitable growth.

Does CalAmp have any notable partnerships?

Yes, CalAmp collaborates with partners across various industries, including transportation, oil and gas, and public safety, to provide data-driven solutions for mission-critical operations.

Where can I find more information about CalAmp?

For more information, you can visit CalAmp's official website at www.calamp.com.

CalAmp Corp.

Nasdaq:CAMP

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