UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-38358 INSEEGO CORP. (Exact name of registrant as specified in its charter) Delaware 81-3377646 (State or Other Jurisdiction of Incorpo ...

Inseego Corp. (NASDAQ:INSG) Q3 2019 Results Earnings Conference Call November 6, 2019 5:00 PM ET Company Participants Dan Mondor - Chairman, Chief Executive Officer Steve Smith - Executive Vice President, Chief Financial Officer Ashish Sharma - Executive Vice President of IoT & Mobile Solutions John Weldon - Senior Vice President of Enterprise SaaS Solutions Conference Call Participants Anthony Nemoto - Canaccord Genuity Scott Searle - ROTH Capital Lance Vitanza - Cowan Mike Latimore - Northland Capital Mar ...

```markdown PART I—FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements as of June 30, 2019, show a working capital deficit of **$117.3 million** and a **net loss** of **$10.7 million** for the quarter. Total assets were **$164.7 million**, while total liabilities stood at **$202.0 million**, resulting in a total stockholders' deficit of **$37.3 million**. A significant portion of debt, including the **Term Loan** and **Convertible Senior Notes**, has been reclassified as **current liabilities** due to a potential repurchase event in **June 2020**. The notes to the financial statements highlight a **substantial doubt** about the company's ability to continue as a going concern without restructuring its debt or raising additional capital [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of **June 30, 2019**, the company had total assets of **$164.7 million** and total liabilities of **$202.0 million**, resulting in a stockholders' deficit of **$37.3 million**. Compared to **December 31, 2018**, cash and cash equivalents **decreased** from **$31.0 million** to **$20.3 million**. A significant change is the reclassification of the **Convertible Senior Notes** (**$97.2 million**) and **Term Loan** (**$45.8 million**) from long-term to **current liabilities**, leading to a **substantial working capital deficit** Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2019 (Unaudited) | December 31, 2018 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $20,268 | $31,015 | | Total current assets | $76,636 | $84,352 | | Total assets | $164,654 | $162,256 | | **Liabilities & Stockholders' Deficit** | | | | Total current liabilities | $193,976 | $53,681 | | Total liabilities | $201,982 | $198,781 | | Total stockholders' deficit | ($37,328) | ($36,525) | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the three months ended **June 30, 2019**, total net revenues **increased** to **$55.9 million** from **$49.1 million** year-over-year, driven by **IoT & Mobile Solutions**. However, gross profit **decreased** to **$15.6 million** from **$17.7 million**, and the operating **loss widened** to **$5.2 million** from **$0.8 million**. The **net loss** attributable to Inseego Corp. **increased** to **$10.8 million**, or (**$0.14**) per share, compared to a **net loss** of **$6.7 million**, or (**$0.11**) per share, in the prior-year period Q2 2019 vs Q2 2018 Statement of Operations (in thousands, except per share data) | Metric | Q2 2019 | Q2 2018 | | :--- | :--- | :--- | | Total net revenues | $55,891 | $49,057 | | Gross profit | $15,555 | $17,657 | | Operating loss | ($5,183) | ($822) | | Net loss attributable to Inseego Corp. | ($10,779) | ($6,660) | | Net loss per share (Basic and diluted) | ($0.14) | ($0.11) | Six Months Ended June 30, 2019 vs 2018 Statement of Operations (in thousands, except per share data) | Metric | 6M 2019 | 6M 2018 | | :--- | :--- | :--- | | Total net revenues | $104,447 | $95,790 | | Gross profit | $30,315 | $33,200 | | Operating loss | ($7,644) | ($3,406) | | Net loss attributable to Inseego Corp. | ($18,264) | ($14,710) | | Net loss per share (Basic and diluted) | ($0.24) | ($0.24) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended **June 30, 2019**, net cash used in operating activities was **$10.1 million**, a significant **decline** from **$0.9 million** provided by operations in the same period of **2018**. Net cash used in investing activities **increased** to **$11.3 million**. Net cash provided by financing activities was **$10.3 million**, primarily due to proceeds from a warrant exercise. Overall, cash, cash equivalents, and restricted cash **decreased** by **$10.7 million** during the period Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2019 | 2018 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | ($10,055) | $903 | | Net cash used in investing activities | ($11,320) | ($1,722) | | Net cash provided by (used in) financing activities | $10,311 | ($175) | | **Net decrease in cash, cash equivalents and restricted cash** | **($10,747)** | **($2,362)** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail significant accounting policies and events. Key disclosures include a going concern warning due to a **working capital deficit** and upcoming debt obligations. The company's debt, including a **$48.0 million Term Loan** and **$105.1 million** in **Convertible Notes**, is now classified as current. One customer accounted for **56%** of revenue in **Q2 2019**. Subsequent to the quarter's end, the company raised **$10.0 million** through the issuance of **Series E Preferred Stock** - Management has concluded that the company's current cash and anticipated cash flows will be **insufficient** to meet its **working capital deficit** needs and potential debt repurchases in **June 2020**. These circumstances raise **substantial doubt** about the Company's ability to continue as a going concern[21](index=21&type=chunk) - The company's plan to mitigate the going concern risk is through restructuring its existing debt or issuing additional debt or equity securities[21](index=21&type=chunk) - The **Term Loan** and **Convertible Senior Notes** are classified as **current liabilities** because holders of the **Inseego Notes** have an option to require repurchase on **June 15, 2020**, which would also trigger a default under the Credit Agreement[20](index=20&type=chunk)[77](index=77&type=chunk)[90](index=90&type=chunk) - For **Q2 2019**, one customer accounted for **56.0%** of net revenues. As of **June 30, 2019**, two customers accounted for **27.3%** and **11.0%** of accounts receivable[106](index=106&type=chunk) - On **August 9, 2019**, the company completed a private placement of **10,000** shares of **Series E Preferred Stock** for an aggregate purchase price of **$10.0 million**[125](index=125&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a **13.9%** year-over-year revenue **increase** for **Q2 2019**, driven by strong sales of LTE gigabit hotspots in the **IoT & Mobile Solutions** segment. However, this was offset by a **decline** in gross margin from **36.0%** to **27.8%** due to a less favorable product mix and foreign exchange impacts. The company's liquidity position is **critical**, with a **working capital deficit** of **$117.3 million** and cash of **$20.3 million**. Management explicitly states that current cash is **insufficient** to cover potential debt repurchases in **June 2020**, creating **substantial doubt** about its ability to continue as a going concern, and outlines plans to restructure debt or raise capital [Business Overview](index=36&type=section&id=Business%20Overview) Inseego is a provider of mobile (**4G/5G**), IoT, and cloud solutions. Its revenue is generated from two main categories: **IoT & Mobile Solutions**, which includes hotspots, gateways, and routers sold under brands like MiFi and Skyus, and **Enterprise SaaS Solutions**, which includes Ctrack telematics and Device Management System platforms - The company designs and develops mobile (**4G/5G NR**), IoT, and cloud solutions for service providers, enterprises, and small-to-medium businesses[137](index=137&type=chunk) - Key product lines include MiFi mobile hotspots, Skyus IoT routers, and Ctrack SaaS platforms for fleet and asset management[139](index=139&type=chunk)[143](index=143&type=chunk) [Results of Operations](index=41&type=section&id=Results%20of%20Operations) For **Q2 2019**, net revenues **increased 13.9%** to **$55.9 million** compared to **Q2 2018**, driven by a **26.0% rise** in **IoT & Mobile Solutions** revenue from new LTE gigabit hotspots. This was partially offset by an **8.1% decline** in **Enterprise SaaS** revenue, mainly due to unfavorable foreign exchange rates. Gross margin **fell** significantly to **27.8%** from **36.0%** due to the higher cost and lower margin of the new hotspots. Operating expenses **increased**, resulting in a **wider** operating **loss** of **$5.2 million** versus **$0.8 million** in the prior year Net Revenues by Product Category - Q2 2019 vs Q2 2018 (in thousands) | Product Category | Q2 2019 | Q2 2018 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | IoT & Mobile Solutions | $39,983 | $31,741 | $8,242 | 26.0% | | Enterprise SaaS Solutions | $15,908 | $17,316 | ($1,408) | (8.1)% | | **Total** | **$55,891** | **$49,057** | **$6,834** | **13.9%** | - The **increase** in **IoT & Mobile Solutions** revenue was primarily from **increased** sales of LTE gigabit hotspots[162](index=162&type=chunk) - Gross profit for **Q2 2019** was **$15.6 million** (**27.8%** margin), a **decrease** from **$17.7 million** (**36.0%** margin) in **Q2 2018**. The **decline** was attributed to lower MiFi gross margins, reduced IoT volumes, and unfavorable foreign exchange rates[167](index=167&type=chunk) - Operating expenses (R&D, S&M, G&A) **increased** in **Q2 2019** compared to **Q2 2018**, primarily due to higher employment costs from **increased** headcount and share-based compensation[168](index=168&type=chunk)[169](index=169&type=chunk)[170](index=170&type=chunk) [Liquidity and Capital Resources](index=46&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity is under significant pressure. As of **June 30, 2019**, it had **$20.3 million** in cash and a **working capital deficit** of **$117.3 million**. Management states that current cash and operational cash flow will not be **sufficient** to fund operations and cover potential debt repurchases on the **June 15, 2020** Optional Repurchase Date for its **Inseego Notes**. This situation raises **substantial doubt** about the company's ability to continue as a going concern. To address this, management plans to pursue a debt restructuring or raise additional capital. Subsequent to the quarter, the company raised **$10.0 million** via a preferred stock placement - As of **June 30, 2019**, the company had cash and cash equivalents of **$20.3 million** and a **working capital deficit** of **$117.3 million**[191](index=191&type=chunk)[210](index=210&type=chunk) - Management acknowledges that current cash and anticipated cash flows are **insufficient** to meet **working capital deficit** needs and potential debt repurchases on **June 15, 2020**, which would also trigger a default on its **Term Loan**[212](index=212&type=chunk) - The company plans to address its liquidity concerns through a recapitalization or restructuring transaction prior to the Optional Repurchase Date[212](index=212&type=chunk) - Net cash used in operating activities was **$10.1 million** for the first six months of **2019**, compared to **$0.9 million** provided in the same period of **2018**, primarily due to the **net loss** and use of cash in **working capital deficit**[207](index=207&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=50&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is **not applicable** as per the report - **Not applicable**[215](index=215&type=chunk) [Controls and Procedures](index=50&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were **effective** as of **June 30, 2019**. There were no **material changes** in internal control over financial reporting during the quarter - Based on an evaluation as of **June 30, 2019**, the principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were **effective**[217](index=217&type=chunk) - There were no changes in the company's internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[218](index=218&type=chunk) PART II—OTHER INFORMATION [Legal Proceedings](index=51&type=section&id=Item%201.%20Legal%20Proceedings) The company is party to various legal proceedings arising in the ordinary course of business. The disclosure refers to Note 9, which details a settlement agreement with former stockholders of RER. Management believes the ultimate outcome of other legal actions will not have a material adverse effect - The disclosure regarding legal proceedings is incorporated by reference from Note 9, Commitments and Contingencies[219](index=219&type=chunk) [Risk Factors](index=51&type=section&id=Item%201A.%20Risk%20Factors) There have been no **material changes** in the company's risk factors from those disclosed in its **Annual Report on Form 10-K** - There have been no **material changes** in risk factors from those disclosed in the **Form 10-K**[221](index=221&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=51&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) On **May 24, 2019**, the company issued **45,871** shares of its common stock to a third party to resolve an intellectual property dispute. The shares were issued in a private transaction exempt from registration - On **May 24, 2019**, the Company issued **45,871** shares of common stock to a third party to resolve an intellectual property dispute[222](index=222&type=chunk) [Exhibits](index=52&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the **Form 10-Q**, including merger agreements, corporate governance documents, and officer certifications ```

Inseego Corp. (NASDAQ:INSG) Q2 2019 Results Conference Call August 6, 2019 5:00 PM ET Company Participants Dan Mondor – Chairman and Chief Executive Officer Steve Smith – Executive Vice President and Chief Financial Officer Ashish Sharma – Chief Marketing Officer and Executive Vice President-IoT & Mobile Solutions John Weldon – Senior Vice President-Enterprise SaaS Solutions Conference Call Participants Scott Searles – Roth Capital Mike Walkley – Canaccord Genuity Jaeson Schmidt – Lake Street Lance Vitanza ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 For the transition period from to . Commission File Number: 001-38358 INSEEGO CORP. (Exact name of registrant as specified in its charter) FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 81-3377646 (State or Other Jurisdiction of Incorporati ...

Inseego Corp (NASDAQ:INSG) Q1 2019 Earnings Conference Call May 8, 2019 5:00 PM ET Company Participants Dan Mondor - Chairman & CEO Steve Smith - EVP & CFO Conference Call Participants Michael Walkley - Canaccord Genuity Jaeson Schmidt - Lake Street Scott Searle - Roth Capital Mike Latimore - Northland Capital Markets Matthew Galinko - National Securities Operator Good afternoon, and welcome to the Inseego Corp.'s 1st Quarter 2019 Financial Results Conference Call. Please note that today's event is being re ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For fiscal year ended December 31, 2018 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Exact name of registrant as specified in its charter) Delaware 81-3377646 (State or Other Jurisdiction of Incorporation or Organization) 12600 Deerfield Parkway, Suite 100 Comm ...

Financial Data and Key Metrics Changes - Inseego reported Q4 2018 revenue of $56 million, which was $5.4 million better than the previous quarter and up $9.5 million from Q4 2017, marking a 20% year-over-year growth [45] - Adjusted EBITDA for Q4 was $5.8 million, the highest in nearly a decade, with a 10% EBITDA margin, contributing to an annualized adjusted EBITDA target of $20 million to $25 million [7][59] - Full-year 2018 total revenue was $202.5 million, a decrease of 7.7% from 2017, while full-year adjusted EBITDA was $17.6 million, significantly up from $2.3 million in 2017 [44][45] Business Line Data and Key Metrics Changes - IoT & Mobile Solutions revenue for Q4 was $40 million, up 16% sequentially and 35% year-over-year, driven by the launch of the MiFi gigabit hotspot and design services revenue for new 5G products [61] - Enterprise SaaS Solutions revenue in Q4 was flat sequentially at $16 million, but on a constant currency basis, it grew 1% sequentially and 3% year-over-year [29][65] - Adjusted EBITDA for IoT & Mobile Solutions was $3.3 million in Q4, up 46% from Q3 and up $2.3 million year-over-year, while Enterprise SaaS adjusted EBITDA was $4.4 million, down slightly from the prior quarter [64][66] Market Data and Key Metrics Changes - The company has seen a significant increase in customer engagements, with a service provider pipeline exceeding 20 opportunities in mobile and fixed wireless 5G [11] - The Ctrack business outside of South Africa experienced double-digit annual subscription revenue growth, despite challenges from foreign exchange fluctuations [28][65] - The company is focusing on expanding its presence in the industrial IoT market, with new enterprise customers and partnerships being established [26] Company Strategy and Development Direction - Inseego's strategy includes a focus on 5G market opportunities, with plans to leverage its universal platform architecture for 4G LTE and 5G products [8][15] - The company aims to continue its transformation into Inseego 2.0, emphasizing product innovation, market expansion, and operational improvements [14][20] - A new go-to-market structure has been implemented, with sales leaders appointed for North America and international markets to enhance customer acquisition [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position within the 5G ecosystem, highlighting the importance of live product demonstrations in securing customer interest [89] - The outlook for 2019 is positive, with expectations for significant growth in the second half of the year as new products are launched and customer engagements increase [38][74] - Management acknowledged challenges in Q1 due to component supply shortages but remains optimistic about overcoming these issues and achieving revenue targets [72][96] Other Important Information - The company moved contract manufacturing to Foxconn in Taiwan to enhance scale and reduce tariff exposure [19] - Inseego raised approximately $20 million in new capital to accelerate investment in product development and market resources [16] - The company has strengthened its Board of Directors and resolved a significant lawsuit, contributing to a more stable operational environment [17] Q&A Session Summary Question: Can you help us think about the pipeline with the carriers you are meeting with? - Management noted that the ability to demonstrate live working products has significantly impressed potential customers, leading to follow-ups and engagement for testing and trials [89][91] Question: How should we think about your OpEx levels exiting the year? - Management expects OpEx to eventually stabilize, with a goal of maintaining a $40 million annualized run rate by year-end [92][93] Question: Can you tell us what component was short and its impact on Q1? - The shortage was due to an LED driver part, which caused delays in product launches and affected Q1 revenue [95][96] Question: Can you provide insight into the design activity engagement with new carriers? - Management highlighted strong interest across various service providers for both 5G hotspots and home gateways, with several design wins already secured [110][112] Question: When do you expect to see meaningful revenue from the industrial IoT products? - The launch of industrial IoT products has been delayed to early Q2 due to component shortages, with revenue expected to ramp up thereafter [118]

| --- | --- | |----------------------------------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | NEEDHAM 21st ANNUAL GROWTH CONFERENCE January 16, 2019 | | | Dan Mondor, Chairman and CEO | | | Steve Smith, EVP and CFO | | Safe Harbor Safe Harbor Statement The following presentation contains statements about expected future events that are forward-looking and subject to risks and uncertainties. For these statements, we claim the safe harbor for "forward-looking statements" withi ...