CAMP4 Therapeutics Corporation

to the Cal Amps fourth quarter and full year 2022 financial results conference call. As a reminder, this call is being recorded. I would now like to introduce your host for today's call, Joel Akramovic, managing director of Shelton Group, Cal Amps investor relations firm. Joel, you may begin.

Good afternoon and welcome to CalAMP's fiscal fourth quarter and full year 2022 financial results conference call. I'm Joel Akramowitz, 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, 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'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 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. Now, Jeff will begin today's call with a review of the company's operational highlights and And then Kurt will provide a more detailed 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 CalAMS President and CEO, Jeff Gardner. Jeff, please go ahead.

Thank you, Joel. And thanks to all of you for joining us on the call today. We ended our 2022 fiscal year with software and subscription services revenue of $41.2 million in the fourth quarter, representing a record 60% of our total consolidated revenue of $68.4 million. Total revenue in the quarter was essentially flat with the prior quarter as the strength in our software and subscription services revenue offset a decline in Telematics products revenue. This represents the third consecutive quarter our software and subscription services revenue exceeded 50% of total revenue. our SaaS business remains strong as we continue to transition an increasing number of our telematics device-only customers to recurring subscription contracts with our new device management SaaS application, while also securing new logos. In the fourth quarter alone, we converted approximately one-fifth of our eligible device customers to recurring contracts, and we expect to convert the remainder over the coming fiscal year. Our efforts to bring in new subscription business is evidenced by securing of new customers such as ComNet and CoolTrax, and a recently announced strategic partnership with Noragon, among others. The partnership with U.S.-based Noragon includes extensive collaboration in remote diagnostics and preventative maintenance. Together, NORGON aims to blend real-time data insights from CalAMP's edge computing products powered by EdgeCore and the CalAMP Telematics Cloud Platform with predictive algorithms in NORGON's TripVision remote diagnostic software. CalAMP will also be integrating NORGON's TripVision with our Ion Fleet and Asset software applications. and our joint customers will gain a comprehensive view of their tractors, trailers, and cargo in real time, while also having recourse to advanced vehicle diagnostics to ensure fleet and driver safety. These key features of the solution provide preemptive alerts of vehicle issues before critical failures occur, thus preventing costly vehicle downtime that can significantly impact productivity and profitability. We also continue to make progress in our targeted international markets as our relationship with Toyota, which started in Italy in 2019, has culminated in an expanded partnership with our recently established LoJack Espana subsidiary in Spain. Now, Toyota customers in Spain will also have access to Callum's best-in-class stolen vehicle recovery services enabled by direct collaboration with local law enforcement. The partnership will also go a step further, as well, by offering LoJack SVR services through Kinto, one, a leasing car sharing service, and through Toyota Insurance Services, or TIS. TIS will offer LoJack SVR services as an integral part of underwriting insurance policies for Toyota models such as RAV4, Highlander, and Land Cruiser. By including SVR as part of these three insurance policies, customers will enjoy lower premiums. Finally, the official dealer network of Toyota Spain will market LoJack SVR services directly through Toyota Custom, the Toyota original accessories program. More recently, we announced that our long-term relationship with BMW has proven to be a great success over the past two years as we have successfully delivered security solutions for the entire range of BMW group vehicles sold across Italy. Today, LOJAC's stolen vehicle recovery system is offered as an option on all BMW group models to improve security and peace of mind for BMW Group customers. Over the past two years, a growing number of motorists have decided to protect their BMW Group vehicles with Lojac's unique technology. And this trust has been fundamental for the development of new capabilities that will set unprecedented standards in stolen vehicle tracking. This includes a forthcoming GPS-based solution with additional features such as a smartphone app, intelligent driver tag, and engine lock capability operated by Lojac secure operation centers after the occurrence of a theft. The complete solution is based on CalAMP Telematics Cloud Platform and Edge computing technology and is integrated with connected car data coming from the BMW Group's Connected Drive OEM platform. and accessible by the customer through their smartphone app. Unfortunately, our business continues to be impacted by the ongoing global component supply chain constraints. However, as outlined last quarter, our global supply chain and operations team is engaging in a number of initiatives to address these shortages. Additionally, we are accelerating our next generation of edge device products that also align with suppliers' investment roadmaps to ensure access to critical material supply for years to come. In summary, I am very proud of the team's execution throughout the quarter and the success in transitioning customers to recurring subscription contracts while also securing new logos, partnerships, and ultimately more subscribers. Now I'd like to turn the call over to Kurt. to discuss our financial results in more detail. Kurt?