CalAmp Corp. (NASDAQ:CAMP) Q2 2021 Earnings Conference Call - Final Transcript
Sep 24, 2020 • 04:30 pm ET
Welcome to CalAmp's Second Quarter 2021 Financial Results Conference Call. As a reminder, this call is being recorded. I would now like to introduce your host for today's conference call, Leanne Sievers President of Shelton Group, CalAmp's Investor Relations firm. Leanne, you may begin.
Good afternoon, and welcome to CalAmp's fiscal second quarter 2021 financial results conference call. I'm Leanne Sievers, President 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, Kurt Binder.
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 are 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 periodic 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 financial and operational highlights. Then Kurt will provide additional details about the second quarter results followed by a question-and-answer session.
With that, it's my pleasure to turn the call over to CalAmp's President and CEO, Jeff Gardner. Jeff, please go ahead.
Thank you, Leanne. Welcome everyone, and thanks again for joining us today to discuss our second quarter results, which were solid especially considering the ongoing global pandemic. We continue to execute across the organization with notable progress against the operating plan objectives we put in place upon my appointment. The entire CalAmp team continues to perform at high levels of productivity and efficiency as we strive to position the Company for increased growth and profitability.
Consolidated revenue in the second quarter was $83.5 million, with adjusted EBITDA margin of 6.5%, which included some one-time costs incurred in the quarter. SaaS revenue was up 20% sequentially due to an increase in installations across our global operations particularly in Italy and the UK as automotive dealerships began to reopen and in our US, K-12 fleet management operations as students return to school.
Network OEM revenue also increased in the quarter due to strong growth at cap as their 3G to 4G upgrade cycle continues to accelerate. The one area of our business that continues to see variability and demand from the pandemic is our MRM Telematics product sales, and the associated device installations. This has been most prominent among our regional TSP partners. As one of our top objectives, we are looking to drive increased growth of our SaaS business and this is evidenced by our strong sequential growth in the quarter to 40% of total consolidated revenue. We're also continuing to further enhance our supply chain under Nathan Lowstuter's leadership.
Now I'd like to highlight some of our additional achievements during the quarter in support of our key operating objectives. First, let me start with our international