Inseego’s leading 5G FWA solutions for business connectivity now available through T-Mobile Partner Plus ProgramSAN DIEGO, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Inseego Corp. (Nasdaq: INSG), a technology leader in 5G mobile and fixed wireless solutions for mobile network operators, Fortune 500 enterprises, government, and SMBs, is excited to announce its inclusion in the recently launched T-Mobile Partner Plus program. This initiative aligns with Inseego’s mission to facilitate a smooth and cost-effective trans ...

Inseego Wavemaker™ 5G Outdoor CPE FW3000 now available, certified on T-Mobile and US Cellular, for businesses seeking secure, reliable connectivity in both urban and rural areasSAN DIEGO, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Inseego Corp. (Nasdaq: INSG), a technology leader in 5G mobile and fixed wireless solutions for mobile network operators, Fortune 500 enterprises, government and SMBs, today announced the launch of its next generation 5G outdoor CPE, the Inseego Wavemaker 5G Outdoor CPE FW3000. Designed to ...

Sarvikas to Lead Inseego in Its Next Phase of Growth Following the Company’s Successful Overhaul of its Capital Structure Company Also Adds Brian Miller, One of Inseego’s Largest Stockholders and Noteholders, to its Board of Directors SAN DIEGO, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Inseego Corp. (Nasdaq: INSG) (“Inseego” or the “Company”), a technology leader in 5G mobile and fixed wireless solutions for mobile network operators, Fortune 500 enterprises, and SMBs, today announced the appointment of Juho Sarvik ...

Inseego (INSG) shares have lost 24% in the past month, underperforming the Zacks Computer & Technology sector’s return of 3.3%.The underperformance can be attributed to INSG’s tepid fourth-quarter 2024 guidance. The current quarter faces tough sequential comparison due to record revenues and strong adjusted EBITDA in the third quarter of 2024.The fourth quarter of 2024 is a seasonally weak quarter. Product revenues are expected to suffer from the end of a promotion at a North American carrier customer and s ...

Inseego (INSG) shares plunged 40.36% to close at $10.83 on Wednesday following disappointing third-quarter 2024 results.INSG incurred a loss of 7 cents per share in the reported quarter, which lagged the Zacks Consensus Estimate for earnings of 9 cents. INSG had reported a loss of $1.95 in the year-ago quarter.Total revenues of $54 million increased 30.6% year over year but missed the Zacks Consensus Estimate of $56 million by 4.03%.Inseego’s stock has skyrocketed 393.6% compared with the Zacks Computer and ...

Roth MKM analyst Scott W. Searle upgraded Inseego Corp. INSG from Neutral to Buy, raising the price forecast from $13 to $15.Searle highlights the company’s successful balance sheet recapitalization and reducing net debt. The analyst also notes strong growth in core products, up 25%, and emphasizes the experienced management team.Looking ahead, Searle sees new products, evolving sales channels, and potential acquisitions to boost the company’s outlook for 2025 and 2026.In the third quarter, the company’s re ...

I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for Pric ...

Inseego (INSG) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of $0.09. This compares to loss of $1.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -177.78%. A quarter ago, it was expected that this holding company would post earnings of $0.03 per share when it actually produced earnings of $0.04, delivering a surprise of 33.33%.Over the last four quarters, the company has surpassed co ...

[Q3 2024 Performance Overview](index=1&type=section&id=Q3%202024%20Performance%20Overview) Inseego reported a transformative Q3 2024, achieving significant strategic and financial improvements, including its strongest operating results in years - Management described Q3 as a meaningfully transformative quarter with operational, strategic, and financial improvements, including the best operating results in several years[16](index=16&type=chunk) - The company agreed to sell its Telematics business for approximately **$52 million in cash**, now reported as 'discontinued operations'[15](index=15&type=chunk)[36](index=36&type=chunk) - A key focus was on right-sizing the company's capital structure and driving stockholder value through debt reduction and the cash infusion from the Telematics sale[21](index=21&type=chunk) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) In Q3 2024, Inseego reported strong financial results with combined revenue of $61.9 million, Adjusted EBITDA of $9.3 million, and GAAP Net Income of $9.0 million Q3 2024 Key Financial Results | Metric | Amount (USD) | | :--- | :--- | | **Total Revenue (Continuing & Discontinued)** | $61.9 million | | - Revenue from continuing operations | $54.0 million | | - Revenue from discontinued operations | $7.9 million | | **Total Adjusted EBITDA (Continuing & Discontinued)** | $9.3 million | | - Adjusted EBITDA from continuing operations | $6.7 million | | - Adjusted EBITDA from discontinued operations | $2.6 million | | **GAAP Net Income** | $9.0 million | - The blended gross margin was **37.9%**, composed of **34.8%** from continuing operations and **59.0%** from discontinued operations[23](index=23&type=chunk) - The company paid down its short-term loan from an initial **$19.5 million to $6 million** as of September 30, 2024[24](index=24&type=chunk) [Capital Structure Improvements](index=1&type=section&id=Capital%20Structure%20Improvements) In Q3 2024, the company significantly improved its capital structure by exchanging $91.5 million of convertible notes and anticipating $52 million cash from the Telematics sale - Completed a major debt reduction by exchanging **$91.5 million** of its 2025 convertible notes for long-term debt and equity[18](index=18&type=chunk) - In total, the company has repurchased or exchanged approximately **$147 million**, or **91%**, of the convertible notes outstanding as of December 31, 2023[18](index=18&type=chunk) - The **$52 million** in cash expected from the closing of the Telematics sale will add additional liquidity and flexibility[21](index=21&type=chunk) [Business Highlights](index=2&type=section&id=Business%20Highlights) In Q3 2024, Inseego advanced its channel strategy by onboarding 12 new partners, launching new 5G products, and securing a Fortune 150 utility customer - Onboarded **12 new Inseego Ignite partners** in Q3, with several producing immediate revenue[26](index=26&type=chunk) - Launched the 5G indoor router FX3110 and a new MiFi device into the Inseego Ignite channel program, closing new deals and winning a Fortune 150 utility customer[26](index=26&type=chunk)[27](index=27&type=chunk) - Increased MiFi X PRO sales sequentially across carriers, with strong demand from public sector customers[28](index=28&type=chunk) - Launched Inseego products in the new T-Mobile Virtual Inventory Program[28](index=28&type=chunk) [Q4 2024 Guidance](index=2&type=section&id=Q4%202024%20Guidance) Inseego's Q4 2024 guidance for continuing operations projects revenue between $43.0 million and $47.0 million and Adjusted EBITDA from $3.0 million to $4.0 million - The Q4 2024 guidance is for continuing operations only, as the sale of the telematics business is expected to close during the quarter[29](index=29&type=chunk) Q4 2024 Guidance (Continuing Operations) | Metric | Q4 2023 ACTUAL | Q3 2024 ACTUAL | Q4 2024 GUIDANCE | | :--- | :--- | :--- | :--- | | **Revenue** | $35.9m | $54.0m | $43.0m - $47.0m | | **Adjusted EBITDA** | $2.3m | $6.7m | $3.0m - $4.0m | [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) This section presents unaudited consolidated financial statements for Q3 2024, reclassifying the Telematics business as discontinued operations [Consolidated Statements of Operations](index=5&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) In Q3 2024, the company reported a net income of $8.1 million, a significant improvement from a $22.6 million loss in Q3 2023, with basic EPS of $0.66 Q3 Statement of Operations Highlights (in thousands USD) | Metric | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **Total Revenues** | $54,032 | $41,357 | | **Gross Profit (Loss)** | $18,800 | ($2,165) | | **Operating Income (Loss)** | $1,016 | ($19,146) | | **Net Income (Loss) Attributable to Common Stockholders** | $8,142 | ($22,561) | Earnings Per Share (EPS) | Metric | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **Basic EPS** | $0.66 | ($1.93) | | **Diluted EPS** | ($0.06) | ($1.93) | [Consolidated Balance Sheets](index=7&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) As of September 30, 2024, Inseego's balance sheet shows total assets of $113.4 million and total liabilities of $198.5 million, with the Telematics business reclassified as held for sale Balance Sheet Highlights (in thousands USD) | Metric | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $85,100 | $58,226 | | **Total Assets** | $113,390 | $121,797 | | **Total Current Liabilities** | $188,854 | $55,911 | | **Total Liabilities** | $198,453 | $223,902 | | **Total Stockholders' Deficit** | ($85,063) | ($102,105) | [Consolidated Statements of Cash Flows](index=8&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) For the nine months ended September 30, 2024, net cash from operating activities significantly increased to $45.4 million, while financing activities used $32.8 million - Net cash provided by operating activities for the first nine months of 2024 was **$45.4 million**, compared to **$22.4 million** for the same period in 2023[47](index=47&type=chunk) - Net cash used in financing activities was **$32.8 million**, which included **$33.8 million** for repurchases of 2025 Convertible Notes and **$13.5 million** in repayments on a short-term loan, offset by **$19.4 million** in proceeds from the issuance of the short-term loan[47](index=47&type=chunk) - The company's cash and cash equivalents at the end of the period stood at **$14.7 million**, up from **$7.5 million** at the beginning of the period[47](index=47&type=chunk) [Supplemental Financial Data](index=9&type=section&id=Supplemental%20Financial%20Data) This section provides supplemental quarterly financial data for 2024 and 2023, including statements of operations and Adjusted EBITDA reconciliation for continuing and discontinued operations [Supplemental Quarterly Statement of Operations Data](index=9&type=section&id=Supplemental%20Quarterly%20Statement%20of%20Operations%20Data) This data presents quarterly statements of operations for 2024 and 2023, showing sequential revenue growth and improved operating income for continuing operations 2024 Quarterly Revenue from Continuing Operations (in thousands USD) | Quarter | Revenue | | :--- | :--- | | Q1 2024 | $37,505 | | Q2 2024 | $51,620 | | Q3 2024 | $54,032 | 2024 Quarterly Operating Income (Loss) from Continuing Operations (in thousands USD) | Quarter | Operating Income (Loss) | | :--- | :--- | | Q1 2024 | ($2,945) | | Q2 2024 | $1,854 | | Q3 2024 | $1,016 | [Reconciliation of GAAP Income (Loss) to Adjusted EBITDA](index=11&type=section&id=Reconciliation%20of%20GAAP%20Income%20(Loss)%20to%20Adjusted%20EBITDA) This section reconciles GAAP income to Adjusted EBITDA for 2024 and 2023 quarters, showing Q3 2024 total Adjusted EBITDA of $9.3 million Q3 2024 Adjusted EBITDA Reconciliation (in thousands USD) | Description | Amount | | :--- | :--- | | Income from continuing operations | $7,543 | | **Adjusted EBITDA from continuing operations** | **$6,717** | | Income from discontinued operations | $1,426 | | **Adjusted EBITDA from discontinued operations** | **$2,595** | | **Total Adjusted EBITDA** | **$9,312** | 2024 Quarterly Adjusted EBITDA from Continuing Operations (in thousands USD) | Quarter | Adjusted EBITDA | | :--- | :--- | | Q1 2024 | $1,499 | | Q2 2024 | $6,831 | | Q3 2024 | $6,717 | [Non-GAAP Financial Measures & Forward-Looking Statements](index=3&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Forward-Looking%20Statements) The company explains its use of non-GAAP financial measures like Adjusted EBITDA and provides a cautionary note on forward-looking statements and associated risks - The company uses non-GAAP financial measures like Adjusted EBITDA for operational decision-making, performance evaluation, and forecasting[4](index=4&type=chunk)[35](index=35&type=chunk) - Adjusted EBITDA excludes items such as interest, taxes, depreciation, amortization, share-based compensation, debt restructuring costs, and other non-recurring expenses[34](index=34&type=chunk) - The report contains forward-looking statements based on current management expectations, which are subject to risks including customer dependence, supply chain challenges, competition, and geopolitical instability[54](index=54&type=chunk)[3](index=3&type=chunk)

Inseego (INSG) is set to report third-quarter 2024 results on Nov. 12.For the third quarter, INSG expects revenues of $54-$58 million.The Zacks Consensus Estimate for revenues is currently pegged at $56.30 million, suggesting an increase of 15.89% from the year-ago quarter’s reported figure.For the quarter under review, the consensus mark for earnings has remained steady at 9 cents per share, unchanged over the past 30 days. INSG reported a loss of $1.60 per share in the year-ago quarter.Inseego has a mixed ...