$194.2 million and $234.5 million respectively. As of August 31, 2023, we expect to recognize approximately 30% of the revenue under these remaining performance obligations in the remainder of fiscal 2024 and 35% in fiscal 2025. As of February 28, 2023, we expected to recognize approximately 49% of the then remaining performance obligations in fiscal 2024 and 27% in fiscal 2025. We exclude contracts that have original durations of less than one year from the aforementioned remaining performance obligation d ...

CalAmp Corp. (NASDAQ:CAMP) Q2 2024 Earnings Conference Call October 5, 2023 5:00 PM ET Jason Cohenour - Interim Chief Executive Officer Scott Searle - ROTH MKM Logan Lucas - Corporate Strategy and Investor Relations Manager Conference Call Participants George Notter - Jefferies Welcome to CalAmp's Second Quarter 2024 Financial Results Conference Call. My name is Cole, and I'll be the moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for quest ...

Well, if you look at fiscal '23, right, Q3 and Q4, we're up at $79 and $79. I think those ordering is kind of what caused some of the TSP problems. And so normalization would put you somewhere between current levels in Q3 and Q4. Anthony Stoss All right. Thank you. Jeff Gardner You're welcome. Thanks Tony. Thank you. That concludes the question-and-answer session. I would now like to pass the conference back to Jeff Gardner for any closing remarks. Yes. Thank you very much. And thank you all for joining us ...

(1) Recurring application subscriptions includes zero and $0.8 million during the three months ended May 31, 2023 and 2022, respectively, attributable to the auto vehicle finance business which has been completely wound down. | --- | --- | --- | --- | --- | |----------------------------------------------------|-------|--------|-------|--------| | Revenue by type of goods and services: | | 2023 | | 2022 | | Telematics devices and accessories | $ | 46,291 | $ | 39,395 | | Rental income and other services | $ ...

Financial Data and Key Metrics Changes - Fourth quarter revenue was $78.5 million, flat compared to the prior quarter and up 15% year-over-year from $68.4 million [65] - Full year revenue was $295 million, flat with the prior year [65] - Adjusted EBITDA in the fourth quarter increased 44% sequentially to $6.8 million, or approximately 9% of revenue, compared to $4.7 million or 6% of revenue in the prior year [82] - Full year adjusted EBITDA was $18.1 million, or 6% of revenue, compared to $24.7 million or 8% of revenue in the prior year [69] Business Line Data and Key Metrics Changes - Software and subscription services revenue in the fourth quarter grew 4% sequentially and approximately 25% year-over-year to a record $51.4 million, representing 65% of total revenue [39] - Telematic products revenue in the fourth quarter was $27.1 million, down 8% quarter-over-quarter and flat year-over-year [66] - Full year telematic products revenues declined 22% to $110 million from $142 million, reflecting ongoing supply shortages and customer transitions to a subscription model [67] Market Data and Key Metrics Changes - The largest OEM customer revenues increased 17% quarter-over-quarter and 95% year-over-year, totaling $15 million in the fourth quarter [50] - Annual recurring software application subscription revenue declined from $94 million to $80 million, primarily due to the discontinuation of the auto leasing business and foreign exchange headwinds [51] Company Strategy and Development Direction - The company aims for long-term recurring revenue growth of 10% driven by full stack solutions sales, with a target gross margin of around 50% [20] - The transition from a hardware-only business to a software and subscription model is ongoing, with 78% of hardware customers converted to a subscription model [42] - The focus will be on upselling existing customers to higher-margin software solutions while securing new software customers [46] Management's Comments on Operating Environment and Future Outlook - Management believes they have turned the corner and expects to return to year-over-year revenue growth by the end of fiscal year 2024 [33] - The company anticipates continued improvements in gross margins in 2024, with a focus on driving recurring revenues [69] - Management expressed confidence in the ongoing transformation to a software systems enterprise, aiming for a high level of execution during this transition [63] Other Important Information - The company announced a restructuring plan expected to result in annualized cash savings of approximately $10 to $12 million [54] - Total net borrowing capacity at the end of the year was $34 million, with aggregate outstanding debt of approximately $232 million [55] Q&A Session Summary Question: What is the path and timing around a positive inflection in free cash flow? - Management indicated that improvements in cash flow should be seen in the second half of the year, driven by cost reductions and improved gross margins [8] Question: Can you provide details on the cost-saving plans? - The company expects annual cash flow reductions of $8 to $10 million, with 80% coming from operating expenses [16] Question: What is the expected organic growth rate for connected devices? - The long-term goal for recurring revenue growth is 10%, with significant progress expected in the coming year [20] Question: Will the software and subscription business continue to grow sequentially throughout the year? - Management confirmed that the goal is for the software and subscription business to grow sequentially [23] Question: How has the upsell pattern been for customers converted to DMC TC? - Management noted that customers are beginning to realize the value of DMC TC, with opportunities for upselling additional features [26] Question: What is the impact of pricing increases on gross margins? - Management confirmed that pricing adjustments have been implemented successfully, contributing to improved gross margins [88]

FORM 10-K $0.01 par value Common Stock CAMP The Nasdaq Stock Market LLC (The Nasdaq Global Select Market) SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒. Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒. Indicate by check mark whether the registrant (1) has filed all reports ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER: 0-12182 CALAMP CORP. (Exact name of Registrant as specified in its Charter) Delaware 95-3647070 (State or other jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER: 0-12182 CALAMP CORP. (Exact name of Registrant as specified in its Charter) Delaware 95-3647070 (State or other jurisdiction of (I ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER: 0-12182 CALAMP CORP. (Exact name of Registrant as specified in its Charter) Delaware 95-3647070 (State or other jurisdiction of (I.R. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED FEBRUARY 28, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ COMMISSION FILE NUMBER: 0-12182 CALAMP CORP. (Exact name of Registrant as specified in its Charter) Delaware 95-3647070 (State or other jurisdicti ...