CalAmp Corp (NASDAQ:CAMP) Q4 2023 Earnings Conference Call April 26, 2023 5:00 PM ET
Company Participants
Joel Achramowicz - MD of Shelton Group, IR
Jeff Gardner - President and CEO
Jikun Kim - CFO
Conference Call Participants
George Notter - Jefferies
Scott Searle - Roth Capital Partners
Mike Latimore - Northland Capital Partners
Martin Yang - Oppenheimer
Operator
Welcome to CalAmp's Fourth Quarter and Fiscal Year 2023 Financial Results Conference Call. My name is Tiya and I’ll be your moderator for today’s call. [Operator Instructions] As a reminder, this call is being recorded.
I would now like to introduce your host for today's conference call, Joel Achramowicz, Managing Director of Shelton Group, CalAmp Investor Relation firm. Joel, you may begin.
Joel Achramowicz
Good afternoon, and welcome to CalAmp's fourth quarter and fiscal year 2023 financial results conference call. I'm Joel Achramowicz, Managing Director of Shelton Group, CalAmp's Investor Relations firm. With us today are CalAmp's President and Chief Executive Officer, Jeff Gardner; and Chief Financial Officer, Jikun Kim.
Before we begin, I'd like to remind you that this call may contain forward-looking statements. While these forward-looking statements reflect CalAmp's best current judgment, they're subject to risks and uncertainties that could cause actual results to differ materially from those implied by these forward-looking projections. These risk factors are discussed in our regular SEC filings and in the earnings release issued today, which are available on our website. We undertake no obligation to revise or update any forward-looking statements to reflect future events or circumstances. Jeff will begin today's call with a review of the company's recent operational highlights, and then Jikun will provide details review of the financial results followed by a question-and-answer session.
With that, it's my great pleasure to turn the call over to CalAmp's President and CEO, Jeff Gardner. Jeff, please go ahead.
Jeff Gardner
Thank you, Joel. And thanks to all of you for joining us on the call today. This is our first call with our new CFO, Jikun Kim. It's great to have him as part of my team. I just wanted to welcome him, while also thinking Cindy Zhang, for serving as acting CFO during the transition period.
Fourth quarter revenue was $78.5 million, which was in line with our expectations, and revenue for the full year was $295 million flat with the prior year. Software and subscription services revenue in the quarter grew 4% sequentially, and approximately 25% from the prior year to a record $51.4 million, representing 65% of total revenue.