- CalAmp press release ( NASDAQ: CAMP ): Q3 Non-GAAP EPS of $0.00 in-line.
- Revenue of $78.89M (+14.7% Y/Y) beats by $3.6M .
- Software and Subscription Services revenue was a record $49.3 million, or 62% of total revenue, compared to $44.5 million in the prior quarter.
- Remaining performance obligations increased 20% to $252 million from $210 million in the prior quarter.
- Telematics Products revenue increased 5% to $29.6 million as device shipments improved, compared to $28.3 million in the prior quarter.
- Gross margin declined to 33.7% compared to 39.8% last quarter as more expensive components were secured in the spot market to support critical backlog shipments to customers.
- GAAP net loss from continuing operations was $4.7 million, or a loss of $0.13 per share, compared to $7.5 million, or a loss of $0.21 per share, in the prior quarter.
- Adjusted EBITDA of $4.7 million, or 6% of revenue, was consistent with adjusted EBITDA of $4.8 million, or 7% of revenue, in the prior quarter.
- S&SS subscribers totaled 1.5 million at quarter end, a 12% increase from 1.3 million at the end of the prior quarter.
- Ended the quarter with $45 million in cash and cash equivalents, compared to $48 million in the prior quarter.
- Outlook: The Company is maintaining its policy of not providing detailed quarterly guidance due to visibility into product shipments remaining difficult to accurately assess. However, given the significant volume of shipments in the third quarter, the Company expects revenue to be relatively flat sequentially in its fourth quarter.
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CalAmp Non-GAAP EPS of $0.00 in-line, revenue of $78.89M beats by $3.6M