Core Insights - NexQloud Technologies has appointed Robert Barbieri as the new CEO, succeeding Mauro Terrinoni, who will now focus on strategic advisory roles [1][2][3] - The leadership change aims to accelerate the company's scaling and growth as it prepares for Seed and Series A funding rounds [2][3] - Barbieri's extensive experience in IPO execution, M&A, and public-company finance is seen as crucial for NexQloud's next growth phase [3][4] Leadership Transition - The Board of Directors initiated the leadership change to better position the company for future growth [2] - Mauro Terrinoni is credited with establishing the foundational technology and market position of NexQloud [1][3] New CEO's Background - Robert Barbieri has a strong background in financial and operational leadership, having previously served as Senior Executive Vice President at Lawson Software and CFO at Inseego [3][4] - His experience includes leading the IPO process at Lawson Software and overseeing a $1.4 billion sale at TriZetto [3] Strategic Focus Areas - Barbieri has outlined three priorities for his tenure: strengthening operational foundations, accelerating enterprise client acquisition, and securing growth capital efficiently [4] - The company aims to leverage its existing strong team to build NexQloud into a category leader in the distributed cloud space [4] Company Overview - NexQloud Technologies is developing a distributed cloud platform that allocates computing workloads across a decentralized network, utilizing blockchain-based governance for security and compliance [6] - The platform is anchored by its Decentralized Kubernetes Service (DKS) [6] Strategic Advantages of Leadership Change - Proven record in leading IPO and M&A transactions will support upcoming fundraising and investor transparency [8] - Experience in regulated technology sectors ensures alignment with enterprise compliance and security requirements [8] - Demonstrated ability to build high-performance organizations will aid in scaling NexQloud's infrastructure [8]

Core Insights - Inseego Corp. has launched a new 5G hardware platform, the Wavemaker FX4200, along with an updated software suite, Inseego Connect, aimed at providing enterprise-class wireless connectivity for small- and mid-size enterprises [4][5][12] - The new solution addresses the gap between complex, feature-heavy solutions and simplistic consumer products, offering a full-stack wireless platform that combines performance, security, and ease of management [6][10] Product Features - The FX4200 is built on the Qualcomm Dragonwing™ FWA Gen 3 platform, delivering multi-gigabit 5G performance with built-in intelligence and manageability [8] - Key capabilities include zero-touch setup, enterprise security with FIPS 140-3 compliance, and a redesigned mobile app for non-technical users [11][8] - The solution supports Wi-Fi 7 connectivity for up to 256 clients and features automatic failover across cellular and wired WAN for uninterrupted service [11] Market Positioning - Inseego aims to fill the market gap for IT leaders by providing a solution that is powerful yet simple to deploy, catering to various use cases such as retail locations, restaurants, and government offices [7][6] - The FX4200 is designed to expand the addressable market for service providers and resellers, offering cloud-based management and mobile app support for managing thousands of devices [10][14] Availability and Growth Potential - The Inseego FX4200, X700, and Inseego Connect are currently available through Inseego's channel partners, positioning the company for growth in the FWA and 5G business sectors [12][10] - The solution is expected to drive growth by eliminating the tradeoff between complexity and functionality that businesses have faced in the past [5][12]

Core Points - Inseego Corp. will release its financial results for Q3 2025 on November 6, 2025, after market close [1] - The financial statements and earnings press release will be available on Inseego's website and filed on EDGAR [2] - A conference call to discuss the results and business outlook will take place on the same day at 5:00 p.m. Eastern Time [3] Company Overview - Inseego Corp. is a leading provider of cloud-managed wireless broadband connectivity solutions, focusing on 5G technology for various sectors [5] - The company offers a comprehensive hardware portfolio and a SaaS platform for device, network, and subscriber management [5] - Inseego has delivered over 10 generations of solutions, emphasizing speed, security, and reliability for businesses, government agencies, and educational institutions [5]

Core Insights - Inseego Corp and TELCLOUD have formed a partnership to facilitate the transition from legacy POTS services to high-performance FWA solutions utilizing 5G technology [1][2][3] Company Overview - Inseego Corp is a leader in 5G mobile broadband and fixed wireless access solutions, providing cloud-managed wireless connectivity and a comprehensive hardware portfolio [4] - TELCLOUD specializes in white-label POTS line replacement, offering a customizable and scalable Communications Platform as a Service (CPaaS) for telecommunications providers and resellers [5] Market Demand - There is a significant increase in demand for FWA services, with Mobile Network Operators expected to add more FWA connections in 2024 than any other technology [2] - The North American market has over 1 billion legacy POTS lines, indicating a substantial opportunity for FWA as a reliable alternative [2] Product Details - The Inseego Wavemaker FX3110 is a high-performance indoor 5G cellular router designed for enterprise connectivity, supporting up to 64 devices and featuring dual Ethernet ports for flexible deployment [3] - The FX3100 series is engineered for simplicity and scalability, ensuring strong signal performance across various environments [3] Partnership Benefits - The collaboration between Inseego and TELCLOUD aims to provide reseller partners with an easy-to-deploy FWA solution to meet the growing customer demand for 5G access [2][3] - The joint solution combines TELCLOUD's cloud-managed POTS line replacement platform with Inseego's Wavemaker router, delivering a secure and reliable connection for businesses [2]

Core Insights - Inseego Corp. has appointed Donna Johnson as Chief Marketing Officer and promoted Vishal Donthireddy to Chief Technology Officer, reflecting the company's commitment to its growth strategy and innovation in wireless solutions [1][3][4] Leadership Changes - Donna Johnson will lead Inseego's global marketing strategy, aiming to position the brand as a category leader and enhance go-to-market capabilities [2][3] - Vishal Donthireddy, with nearly 20 years at Inseego, will continue to drive technology leadership and innovation as CTO, focusing on expanding the company's wireless broadband and cloud-managed enterprise solutions [4][5] Strategic Focus - The company is transitioning from a hardware-centric model to a software-centric approach, emphasizing secure, cloud-managed wireless solutions [3][4] - Inseego aims to redefine enterprise connectivity and expand its channel presence through new distribution models [4][5] Market Position - Inseego is recognized as a leader in 5G mobile broadband and fixed wireless access solutions, with a significant customer base across various sectors [6] - The company is positioned to leverage its technological innovations, including advancements from 5G to future 6G solutions [5][6]

Core Insights - Inseego Corp. and OneSource have launched Janus, a new managed service that integrates Inseego's 5G fixed wireless access devices with OneSource's connectivity services, aimed at providing reliable wireless broadband access for enterprises of all sizes [1][2][3] Group 1: Partnership and Product Offering - The collaboration between Inseego and OneSource is positioned as a strategic partnership to meet the growing demand for 5G-based fixed wireless access solutions, emphasizing flexibility, reliability, and performance [2] - Janus is described as a fully managed suite of connectivity solutions, marking OneSource's first turnkey 5G cellular offering, leveraging both companies' expertise [3][4] - The Janus solution includes high-performance outdoor and indoor CPE devices, supported by Inseego's cloud-based management platform, Inseego Connect, allowing for scalable monitoring and management [4][5] Group 2: Product Features and Demonstrations - Key products highlighted include the FW2000 outdoor CPE, MiFi X PRO 5G hotspot, and FX3110 indoor router, showcasing advanced connectivity capabilities [7] - The partnership will feature live demonstrations of these products at the OneSource Center of Excellence, with an open house event planned to celebrate the launch [6][8] Group 3: Company Backgrounds - Inseego Corp. is recognized as a leader in 5G enterprise cloud WAN solutions, serving millions of end customers and thousands of enterprise clients globally [9] - OneSource Building Technologies specializes in connectivity solutions with over 20 years of experience, providing end-to-end services across more than 90 countries [10]

Group 1 - The focus has shifted towards offshore drilling, supply industry, and shipping, including tankers, containers, and dry bulk [1] - The fuel cell industry is being monitored as it is still in its early stages of development [1] Group 2 - The individual has extensive experience in auditing and trading, having navigated significant market events such as the dotcom bubble and the subprime crisis [2] - The research quality is emphasized despite language barriers, indicating a commitment to delivering valuable insights to the investment community [2]

Group 1 - Inseego reported revenue of $40.22 million for the quarter ended June 2025, a decrease of 32% year-over-year, with an EPS of $0.06 compared to $0.04 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $38.3 million by 5.02%, while the EPS surpassed the consensus estimate of $0.05 by 20% [1] - The stock has returned -13.8% over the past month, contrasting with the Zacks S&P 500 composite's +1.2% change, and currently holds a Zacks Rank 3 (Hold) [3] Group 2 - Mobile solutions revenue was reported at $13.67 million, significantly below the two-analyst average estimate of $19.45 million, reflecting a year-over-year decline of 47.2% [4] - Product revenues reached $28.18 million, slightly above the average estimate of $27.1 million, but still represented a year-over-year decrease of 28.1% [4] - Services and other revenues were reported at $12.04 million, marginally below the estimated $12.15 million, marking a 39.7% decline compared to the previous year [4] - Fixed wireless access solutions generated $14.51 million, exceeding the average estimate of $7.65 million, with a year-over-year increase of 9% [4]

PART I—FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements of Inseego Corp. for the periods ended June 30, 2025, and December 31, 2024, including balance sheets, statements of operations and comprehensive loss, stockholders' deficit, and cash flows, along with detailed notes explaining significant accounting policies, discontinued operations, debt, share-based compensation, and other financial details [Condensed Consolidated Balance Sheets (Unaudited)](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20%28Unaudited%29) Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :---------------------- | :------------ | :---------------- | | Cash and cash equivalents | $13,221 | $39,596 | | Accounts receivable, net | $24,070 | $13,803 | | Inventories | $15,045 | $13,575 | | Total current assets | $56,183 | $72,900 | | Total assets | $83,072 | $99,999 | | Total current liabilities | $46,242 | $63,471 | | Total liabilities | $93,568 | $112,857 | | Total stockholders' deficit | $(10,496) | $(12,858) | [Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss%20%28Unaudited%29) Condensed Consolidated Statements of Operations and Comprehensive Loss Highlights (in thousands, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | Total revenues | $40,223 | $51,620 | $71,896 | $89,125 | | Gross profit | $16,515 | $18,809 | $31,498 | $32,053 | | Operating income (loss) | $1,280 | $1,854 | $856 | $(1,091) | | Net income (loss) | $507 | $624 | $(1,063) | $(3,831) | | Net income (loss) attributable to common stockholders | $(376) | $(184) | $(2,810) | $(5,429) | | Basic and diluted earnings (loss) per share | $(0.03) | $(0.02) | $(0.19) | $(0.46) | [Condensed Consolidated Statements of Stockholders' Deficit (Unaudited)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Deficit%20%28Unaudited%29) Condensed Consolidated Statements of Stockholders' Deficit Highlights (in thousands) | Metric | June 30, 2025 | June 30, 2024 | | :----------------------------------- | :------------ | :------------ | | Additional Paid-in Capital | $897,591 | $816,002 | | Accumulated Deficit | $(908,435) | $(912,357) | | Total Stockholders' Deficit | $(10,496) | $(101,763) | | Net income (loss) | $507 | $624 | | Share-based compensation | $1,654 | $869 | | Preferred stock dividends | $(883) | $(808) | [Condensed Consolidated Statements of Cash Flows (Unaudited)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20%28Unaudited%29) Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Category | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------------------------- | :------------------------------- | :------------------------------- | | Net cash used in (provided by) operating activities | $(7,936) | $32,889 | | Net cash used in investing activities | $(3,881) | $(2,376) | | Net cash used in (provided by) financing activities | $(14,677) | $9,970 | | Net decrease (increase) in cash and cash equivalents | $(26,375) | $40,274 | | Cash and cash equivalents, end of period | $13,221 | $42,683 | [Notes to Condensed Consolidated Financial Statements (Unaudited)](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20%28Unaudited%29) [Note 1. Nature of Business and Significant Accounting Policies](index=8&type=section&id=Note%201.%20Nature%20of%20Business%20and%20Significant%20Accounting%20Policies) This note outlines the basis of presentation for the unaudited condensed consolidated financial statements, confirming adherence to GAAP and SEC rules, detailing the divestiture of the Telematics Business, its classification as discontinued operations, and the impact of a 1-for-10 reverse stock split on January 24, 2024, with the Company operating as one reportable segment - **Divestiture of Telematics Business** completed on November 27, 2024, for **$52.0 million cash**, classified as discontinued operations[20](index=20&type=chunk)[21](index=21&type=chunk) - A **1-for-10 reverse stock split** was completed on January 24, 2024, with all common share and per-share amounts retroactively restated[29](index=29&type=chunk)[30](index=30&type=chunk) - The Company operates as **one reportable segment**, with the CEO serving as the Chief Operating Decision Maker (CODM) since February 2025[31](index=31&type=chunk) [Note 2. Discontinued Operations and Held for Sale](index=10&type=section&id=Note%202.%20Discontinued%20Operations%20and%20Held%20for%20Sale) This note provides detailed financial results for the Telematics Business, which was sold on November 27, 2024, and is reported as discontinued operations, with no revenues or gross profit from discontinued operations for the six months ended June 30, 2025, but a **net loss of $(400) thousand** due to income tax provisions related to deregistration - The sale of the Telematics Business was completed on November 27, 2024[35](index=35&type=chunk) Income (Loss) from Discontinued Operations, Net of Tax (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | Services and other revenues | $— | $7,529 | $— | $15,033 | | Gross profit from discontinued operations | $— | $4,231 | $— | $8,379 | | Operating income from discontinued operations | $— | $495 | $— | $1,754 | | Income (loss) from discontinued operations, net of tax | $— | $545 | $(400) | $1,606 | [Note 3. Financial Statement Details](index=11&type=section&id=Note%203.%20Financial%20Statement%20Details) This note provides a breakdown of key balance sheet accounts, including inventories, prepaid expenses and other, accrued expenses and other current liabilities, and other long-term liabilities, highlighting changes between June 30, 2025, and December 31, 2024 Inventories (in thousands) | Category | June 30, 2025 | December 31, 2024 | | :---------------- | :------------ | :---------------- | | Finished goods | $15,045 | $13,531 | | Raw materials and components | $— | $44 | | Total inventories | $15,045 | $13,575 | Prepaid Expenses and Other (in thousands) | Category | June 30, 2025 | December 31, 2024 | | :------------------------ | :------------ | :---------------- | | Rebate receivables | $1,470 | $3,495 | | Software licenses | $1,227 | $1,034 | | Other | $1,150 | $1,397 | | Total prepaid expenses and other | $3,847 | $5,926 | Accrued Expenses and Other Current Liabilities (in thousands) | Category | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Deferred revenue | $8,890 | $9,245 | | Payroll and related expenses | $4,631 | $7,997 | | Accrued contract manufacturing liabilities | $4,527 | $4,772 | | Operating lease liabilities | $1,433 | $1,346 | | Royalties | $627 | $954 | | Accrued interest | $899 | $926 | | Other | $2,831 | $4,893 | | Total accrued expenses and other current liabilities | $23,838 | $30,1

Financial Data and Key Metrics Changes - In Q2 2025, total revenue was $40.2 million, driven by strong FWA volumes and a large channel deal, marking a sequential growth in both revenue and adjusted EBITDA [19][20] - Non-GAAP gross margin was 41.2%, reflecting a favorable product mix and strong FWA results [20] - Adjusted EBITDA for Q2 was $4.7 million, up 29% sequentially, achieving an 11.7% margin, the second highest in a decade [21] Business Line Data and Key Metrics Changes - FWA revenue surpassed mobile hotspot revenue for only the second time in the company's history, indicating a successful ramp of the new FX4100 product [20] - Mobile revenue decreased year-over-year due to record promotional activity in 2024 and the timing of new program launches expected later in 2025 [20] - Services revenue remained consistent at $12 million for the quarter, providing stable, high-margin contributions [20] Market Data and Key Metrics Changes - The FX4100 product launched in mid-Q2 exceeded expectations with strong early demand, reflecting the expanding total addressable market (TAM) in the enterprise FWA market [10][12] - The company secured notable wins with enterprise customers, including a multi-million dollar agreement with an S&P 500 company [12][30] Company Strategy and Development Direction - The company is focused on transforming into a solutions provider by investing in software, APIs, and platform intelligence, aiming for greater value creation and sustainable growth [7][13] - The growth strategy is anchored by two vectors: scaling the core mobile and FWA business and evolving into a solutions company [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving sequential revenue growth for the next two quarters, supported by the ramp of the FX4100 product and mobile revenue growth [15][24] - The company aims to exit the year with a strong run rate business to support sustainable growth [15] Other Important Information - The company ended Q2 with $13.2 million in cash and a total debt of $41 million, providing flexibility for growth initiatives [22] - A $15 million working capital facility was established to enhance operational flexibility [22] Q&A Session Summary Question: Can you elaborate on the multimillion dollar enterprise agreement with the industrial S&P 500 company? - The deal was facilitated through the Inseego IGNITE channel program, emphasizing the importance of both hardware and software in the value proposition [30] Question: How much of the Q3 revenue and EBITDA guidance is associated with the business pulled from the forecast? - The guidance does not include any assumptions regarding the $10 million deal that was removed from the forecast [32][33] Question: What are the factors influencing the Q3 revenue guidance range? - The variability in the Q3 guidance is related to the business opportunities expected to close in the channel, with no significant macroeconomic assumptions impacting it [34][35] Question: Can you provide details on the mechanics of the enterprise win and revenue recognition? - The specific deal mentioned was for Q2, and the company is working on a pipeline for Q3 and beyond [41] Question: How should investors think about cash flows with the increase in accounts receivable? - The increase in accounts receivable is due to the ramp-up in demand for the new FX4100 product, and the company aims to drive cash flow while investing in inventory [42][43] Question: What potential catalysts can be expected for the FX4100 launch? - The unique combination of performance, technology leadership, and ease of deployment are key factors driving the FX4100's market impact [45] Question: Is there a path to monetizing the expanding software and services feature set? - Yes, the company is investing in software functionality and expects to yield higher revenue from these services moving forward [50][51]