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Enters 2025 With Growth and Momentum in Product Innovation
CARLSBAD, Calif., April 24, 2025 (GLOBE NEWSWIRE) -- CalAmp, a leading telematics company providing products and solutions that help organizations worldwide monitor, track, and protect vital assets, today announced strong results for calendar year 2024. The results underscore a transformative year marked by financial strength, strategic leadership hires, product innovation, and global expansion.
"We are proud of the strides we made in 2024-financially, operationally, and strategically,” said Chris Adams, President and CEO of CalAmp. "Our refreshed leadership team is taking a customer first approach, with a focus on delivering innovative solutions and world-class customer service.”
CalAmp delivered robust business results in 2024, including the following milestones:
- Surpassed a total of 2.7 million subscribers across its business units
- Generated revenue of $197 million and EBITDA of $12.7 million
- Delivered strong positive free cash flow with >100% EBITDA conversion
- Ended the year with a solid cash position of $72 million and positive net cash on the balance sheet following the elimination of $230 million of debt
CalAmp's technology solutions processed and analyzed over one trillion data points (3.5 billion a day) during 2024, reinforcing the company's position as a powerhouse in connected intelligence. The flagship Here Comes the Bus® app served over 1.7 million parents, strengthening CalAmp's leadership in student safety and family engagement.
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To further accelerate its rapidly growing Connected Car Solutions business unit, CalAmp expanded its global footprint with the opening of a new LoJack® France office, building on the trusted LoJack brand to better serve European markets.
To enhance its market leadership and drive further growth, CalAmp strategically organized its operations into four core business units: Edge Devices, Telematics Solutions, Connected Car Solutions, and Student Safety. The company hired and promoted accomplished leaders to bolster each of these divisions:
- Tom Ayers, a former VP at onsemi and Sony Electronics, hired to lead Edge Devices;
- Paul Washicko, previously General Manager of SaaS at CalAmp, returned to lead Telematics Solutions;
- Maurizio Iperti promoted to President of Connected Car Solutions, overseeing all regions, including Europe, the United Kingdom, and Mexico;
- Thomas Polan, a co-founder of the Synovia K-12 solution acquired by CalAmp in 2019, rejoined as Deputy GM of Student Safety.
These key management appointments align with CalAmp's commitment to operational excellence and market expansion, reinforcing its ability to scale in key growth sectors.
As CalAmp enters 2025, the company is well-positioned to build on its momentum, drive innovation, and deepen its partnerships across mobility, safety, and asset intelligence.
About CalAmp
CalAmp provides flexible solutions to help organizations worldwide monitor, track, and protect their vital assets. Our unique device-enabled software and cloud platform enables commercial and government organizations worldwide to improve efficiency, safety, visibility, and compliance while accommodating the unique ways they do business. With over 10 million active edge devices and 220+ approved or pending patents, CalAmp is the telematics leader organizations turn to for innovation and dependability. For more information, visit calamp.com, or LinkedIn, Twitter, YouTube or CalAmp Blog.
CalAmp, LoJack, TRACKER, Here Comes The Bus, Bus Guardian, CalAmp Vision, CrashBoxx and associated logos are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Spireon acquired the LoJack® U.S. Stolen Vehicle Recovery (SVR) business from CalAmp and holds an exclusive license to the LoJack mark in the United States and Canada. Any other trademarks or trade names mentioned are the property of their respective owners.
