[PART I—FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%E2%80%94FINANCIAL%20INFORMATION) This section presents the company's financial statements, management's analysis, market risk disclosures, and internal controls [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) For Q1 2024, Inseego Corp. reported $45.0 million in revenue, a net loss of $4.5 million, and significant liquidity concerns due to upcoming debt maturity [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets were $122.1 million, total liabilities $227.7 million, resulting in a $105.6 million stockholders' deficit Selected Balance Sheet Data (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Current Assets** | | | | Cash and cash equivalents | $12,297 | $7,519 | | Accounts receivable, net | $23,476 | $22,616 | | Inventories | $20,797 | $22,880 | | **Total Assets** | **$122,068** | **$121,797** | | **Current Liabilities** | | | | Accounts payable | $24,013 | $24,795 | | Revolving credit facility | $4,677 | $4,094 | | **Long-Term Liabilities** | | | | 2025 Notes, net | $160,284 | $159,912 | | **Total Liabilities** | **$227,657** | **$223,902** | | **Total stockholders' deficit** | **($105,589)** | **($102,105)** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Q1 2024 total revenues decreased 11.4% to $45.0 million, driven by lower Mobile solutions revenue, resulting in a $4.5 million net loss Consolidated Statements of Operations (in thousands, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Total revenues** | **$45,009** | **$50,794** | | Mobile solutions revenue | $15,270 | $23,040 | | Fixed wireless access solutions revenue | $14,182 | $11,870 | | Gross profit | $17,392 | $18,187 | | Operating loss | ($1,684) | ($3,591) | | Net loss | ($4,455) | ($5,104) | | Net loss attributable to common stockholders | ($5,245) | ($5,827) | | Net loss per common share (Basic and diluted) | ($0.44) | ($0.54) | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2024 generated $4.5 million in operating cash flow, a decrease from prior year, with cash and equivalents increasing to $12.3 million Summary of Cash Flows (in thousands) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $4,546 | $7,659 | | Net cash used in investing activities | ($577) | ($2,504) | | Net cash provided by (used in) financing activities | $583 | ($3,340) | | **Net increase in cash and cash equivalents** | **$4,778** | **$1,543** | | **Cash and cash equivalents, end of period** | **$12,297** | **$8,686** | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Key notes highlight liquidity challenges, going concern doubt, a 1-for-10 reverse stock split, customer concentration, and subsequent credit facility termination - The company's ability to refinance its **$161.9 million** 3.25% convertible senior notes due May 1, 2025 cannot be assured, which raises substantial doubt about its ability to continue as a going concern[31](index=31&type=chunk) - On January 24, 2024, the company completed a **1-for-10 reverse stock split** of its common stock[25](index=25&type=chunk) - For Q1 2024, two customers accounted for **39.3%** and **18.2%** of revenues, respectively, indicating significant customer concentration[76](index=76&type=chunk) - As a subsequent event, the company voluntarily paid off and terminated its revolving credit facility on April 18, 2024[82](index=82&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=16&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses an 11.4% revenue decline, improved gross margin, and critical liquidity challenges related to the 2025 Notes maturity [Results of Operations](index=19&type=section&id=Results%20of%20Operations) Q1 2024 total revenues declined 11.4% to $45.0 million due to Mobile solutions, while gross profit margin improved to 38.6% Revenues by Product Category (in thousands) | Product Category | Q1 2024 | Q1 2023 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Mobile solutions | $15,270 | $23,040 | ($7,770) | (33.7)% | | Fixed wireless access solutions | $14,182 | $11,870 | $2,312 | 19.5% | | **Product revenues** | **$29,452** | **$34,910** | **($5,458)** | **(15.6)%** | | Services and other | $15,557 | $15,884 | ($327) | (2.1)% | | **Total revenues** | **$45,009** | **$50,794** | **($5,785)** | **(11.4)%** | - The increase in gross profit margin to **38.6%** in Q1 2024 from **35.8%** in Q1 2023 was attributed to a larger proportion of higher-margin service revenues as a percentage of total revenues[105](index=105&type=chunk) Operating Costs and Expenses (in thousands) | Expense Category | Q1 2024 | Q1 2023 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Research and development | $5,043 | $3,775 | $1,268 | 33.6% | | Sales and marketing | $4,995 | $6,466 | ($1,471) | (22.7)% | | General and administrative | $4,983 | $5,724 | ($741) | (12.9)% | | Depreciation and amortization | $3,635 | $5,309 | ($1,674) | (31.5)% | | **Total** | **$19,076** | **$21,778** | **($2,702)** | **(12.4)%** | [Liquidity and Capital Resources](index=21&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity improved with positive operating cash flow and a $15.0 million customer payment, but the 2025 Notes maturity remains a significant concern - The company is in active negotiations to restructure or refinance its **$161.9 million** 2025 Notes due May 1, 2025, but there is no assurance of success, raising substantial doubt about its ability to continue as a going concern[116](index=116&type=chunk) - In April 2024, the company received a **$15.0 million** upfront payment from a customer for a two-year service contract, positively impacting liquidity[115](index=115&type=chunk) - Effective April 18, 2024, the company voluntarily paid off and terminated its revolving credit facility, which had a **$4.7 million** balance at the end of Q1 2024[114](index=114&type=chunk)[120](index=120&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=24&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Primary market risks include inflation and foreign currency fluctuations, with interest rate risk eliminated after credit facility termination - Interest rate risk from the revolving credit facility was eliminated when the company paid off and terminated the agreement on April 18, 2024[140](index=140&type=chunk) - For Q1 2024, sales denominated in foreign currencies (primarily South African Rand, British Pound, Euro, and Australian Dollar) were **21.2%** of total revenue[143](index=143&type=chunk) - A hypothetical **10%** change in foreign currency exchange rates would have impacted Q1 2024 revenue by approximately **$1.0 million**[143](index=143&type=chunk) [Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of March 31, 2024, with no material changes in internal control over financial reporting - Based on an evaluation as of March 31, 2024, the principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were effective[145](index=145&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended March 31, 2024, that have materially affected, or are reasonably likely to materially affect, internal controls[146](index=146&type=chunk) [PART II—OTHER INFORMATION](index=26&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) This section covers legal proceedings, risk factors, other required disclosures, and a list of exhibits [Legal Proceedings](index=26&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any litigation expected to materially adversely affect its business or financial results - The company reports that it is not currently party to any legal proceedings that would be reasonably expected to have a material and adverse effect on its business[147](index=147&type=chunk) [Risk Factors](index=26&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's Annual Report on Form 10-K - The company states there were no material changes to the risk factors disclosed in its Form 10-K filed on February 21, 2024[148](index=148&type=chunk) [Other Items (Items 2, 3, 4, 5)](index=26&type=section&id=Other%20Items) The company reported no unregistered sales of equity securities, defaults on senior securities, mine safety disclosures, or other material information - The company reported 'None' or 'Not applicable' for Item 2 (Unregistered Sales of Equity Securities), Item 3 (Defaults Upon Senior Securities), Item 4 (Mine Safety Disclosures), and Item 5 (Other Information)[149](index=149&type=chunk)[150](index=150&type=chunk)[151](index=151&type=chunk)[152](index=152&type=chunk) [Exhibits](index=27&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate governance documents and officer certifications

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 was $45 million, exceeding guidance and representing a sequential increase of over 5% [44][57] - Adjusted EBITDA for Q1 2024 was $3.8 million, marking the fifth consecutive quarter of positive adjusted EBITDA with a margin of nearly 9% [47][57] - Cash at the end of Q1 2024 improved to over $12 million, allowing the company to repay its credit facility [4][83] Business Line Data and Key Metrics Changes - The FWA (Fixed Wireless Access) product saw year-over-year revenue growth of nearly 20%, now constituting about a third of the company's revenue, up from 23% in the same quarter of 2023 [62] - Telematics revenue reached its highest quarterly revenue ever in Q1, contributing positively to overall revenue performance [45][57] - The mobile hotspot business performed better than expected in Q1, driven by carrier uptake of 5G products [8][12] Market Data and Key Metrics Changes - Strong carrier demand for mobile products is expected to drive higher revenue in Q2 compared to Q1, aided by promotional activities [12][77] - The company is seeing a rebound in the mobile business alongside growth in the FWA segment [43][57] Company Strategy and Development Direction - The company is focusing on diversifying its revenue base through a new channel program aimed at expanding go-to-market capabilities [41][80] - Management is engaged in restructuring and refinancing existing convertible notes to optimize capital structure [5][65] - The company is building new product and software opportunities in both carrier and MSO (Multiple System Operator) spaces based on a strong product roadmap [43][57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth for Q2, with expectations for total revenue in the range of $52 million to $56 million [85] - The company is optimistic about demand for its products and is taking advantage of promotional activities to drive sales [77][93] - Management noted that the improved financial condition allows for a more favorable outlook on capital structure and operational flexibility [4][42] Other Important Information - The company has successfully negotiated a significant renewal of a subscriber management platform with a major Tier 1 carrier, which is expected to enhance revenue and profitability [9][41] - The company has returned to market-based compensation arrangements for employees, reflecting improved operating performance and profitability [64] Q&A Session Summary Question: How much of the Q2 guidance is affected by the $15 million prepayment? - Management clarified that the prepayment does not affect revenue recognition but improves cash flow, with the contract recognized ratably over three years [20][92] Question: What areas is the new channel program targeting? - The company aims to diversify its revenue base and reduce dependency on large customers, focusing on specialized, higher-value solutions [80] Question: What is the outlook for telematics revenue in the upcoming quarter? - Management indicated that telematics revenue is expected to continue its upward trend in Q2 [88]

Inseego (INSG) came out with a quarterly loss of $0.36 per share versus the Zacks Consensus Estimate of a loss of $0.49. This compares to loss of $0.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.53%. A quarter ago, it was expected that this holding company would post a loss of $0.48 per share when it actually produced a loss of $0.89, delivering a surprise of -85.42%.Over the last four quarters, the company has surpass ...

[Executive Summary & Business Outlook](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Outlook) This section outlines Inseego's Q1 2024 financial results, management's strategic commentary, and Q2 2024 guidance [Q1 2024 Financial Highlights](index=1&type=section&id=Q1%202024%20Financial%20Highlights) Inseego reported Q1 2024 revenue of $45.0 million, a GAAP net loss of $4.5 million, and positive Adjusted EBITDA of $3.8 million, marking the fifth consecutive quarter of positive Adjusted EBITDA. The company also saw an increase in cash to $12.3 million Q1 2024 Financial Performance (in millions) | Metric | Q1 2024 (in millions) | | :-------------------- | :-------------------- | | Revenue | $45.0 | | GAAP Net Loss | $(4.5) | | Adjusted EBITDA | $3.8 | | GAAP Gross Margin | 38.6% | | Non-GAAP Gross Margin | 38.7% | | Cash and cash equivalents (as of March 31, 2024) | $12.3 | - Non-GAAP gross margin increased year-over-year from **36.2% to 38.7%**, driven by a shift in revenue mix towards higher-margin products and services[6](index=6&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) Executive Chairman Phil Brace highlighted strong demand and Q1 2024 results that exceeded guidance, expressing optimism for future growth, including a new channel program. CFO Steven Gatoff noted significant post-quarter developments, such as a key customer extension with increased revenues and a substantial prepayment, which enabled the payoff of the ABL facility and led to improved Q2 guidance - Q1 2024 results exceeded guidance for both revenue and Adjusted EBITDA[3](index=3&type=chunk) - Recently launched a new channel program[3](index=3&type=chunk) - Actively engaged with convertible note holders on potential refinancing or restructuring[3](index=3&type=chunk) - Secured an extension with a key customer post-quarter end, leading to increased revenues and profitability, and received a significant prepayment in April[3](index=3&type=chunk) - Voluntarily paid off and terminated the ABL facility in April due to improving operations and free cash flow[3](index=3&type=chunk) [Q2 2024 Guidance](index=2&type=section&id=Q2%202024%20Guidance) Inseego provided Q2 2024 guidance, projecting total revenue between $52.0 million and $56.0 million, and Adjusted EBITDA between $6.5 million and $7.5 million, indicating a significant improvement over Q1 2024 results Q2 2024 Financial Guidance (in millions) | Metric | Q2 2024 Guidance (in millions) | | :-------------------- | :----------------------------- | | Total revenue | $52.0 to $56.0 | | Adjusted EBITDA | $6.5 to $7.5 | [Company Information & Disclosures](index=2&type=section&id=Company%20Information%20%26%20Disclosures) This section provides an overview of Inseego Corp., outlines cautionary notes regarding forward-looking statements, and explains the use of non-GAAP financial measures [About Inseego Corp.](index=2&type=section&id=About%20Inseego%20Corp.) Inseego Corp. is a leading technology provider of 5G mobile and fixed wireless solutions, offering 5G Enterprise cloud WAN solutions to mobile network operators, Fortune 500 enterprises, and SMBs. Their 5G Edge Cloud platform integrates advanced 5G technology, cloud networking, and intelligent edge applications to enhance business connectivity, data security, and operational visibility - Inseego Corp. is an industry leader in **5G Enterprise cloud WAN solutions**[8](index=8&type=chunk) - Provides 4G, 5G, and cloud platforms to millions of end customers and thousands of enterprise and SMB customers[8](index=8&type=chunk) - The 5G Edge Cloud combines 5G technology, rich cloud networking features, and intelligent edge applications to connect distributed sites, secure enterprise data, and improve business outcomes[8](index=8&type=chunk) [Cautionary Note Regarding Forward-Looking Statements](index=2&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) This section advises that the news release contains forward-looking statements based on management's current expectations, which are subject to significant risks and uncertainties that could cause actual results to differ materially. Key risk factors include the company's ability to refinance debt, dependence on major customers, market demand fluctuations, competition, supply chain issues, and macroeconomic factors. The company disclaims any obligation to update these statements unless legally required - Forward-looking statements are based on management's current expectations, assumptions, estimates, and projections[9](index=9&type=chunk) - Significant risks and uncertainties could cause actual results to differ materially from expectations[9](index=9&type=chunk) - Key risk factors include: ability to make payments on or refinance indebtedness, dependence on a small number of customers, future demand for wireless broadband access, increased competition, dependence on third-party manufacturers and suppliers, impact of supply chain challenges, global semiconductor shortage, inflation, rising interest rates, and geopolitical instability[11](index=11&type=chunk) - The Company assumes no obligation to update publicly any forward-looking statements, except as required under applicable law[12](index=12&type=chunk) [Non-GAAP Financial Measures Explanation](index=3&type=section&id=Non-GAAP%20Financial%20Measures) Inseego provides non-GAAP financial measures, such as Adjusted EBITDA and non-GAAP operating costs, which exclude specific items like share-based compensation, amortization of intangibles, and debt-related costs. These supplemental measures are not GAAP-compliant but are used by management for operational decisions, performance evaluation, and forecasting to offer greater transparency and comparability with industry peers. Investors are cautioned about their inherent limitations and encouraged to review the GAAP reconciliations - Non-GAAP financial measures (e.g., Adjusted EBITDA, non-GAAP operating costs) exclude items such as preferred stock dividends, share-based compensation, amortization of intangible assets, amortization of debt discount and issuance costs, fair value adjustments on derivative instruments, and other non-recurring expenses[13](index=13&type=chunk) - Adjusted EBITDA specifically excludes interest, taxes, depreciation, amortization, impairment of capitalized software, impairment of long-lived assets, certain other non-recurring expenses, and foreign exchange gains and losses[13](index=13&type=chunk) - These non-GAAP measures are supplemental, not GAAP-compliant, and have limitations as analytical tools; they are not substitutes for GAAP measures[14](index=14&type=chunk) - Management uses these non-GAAP measures for operational decisions, performance evaluation, forecasting, and compensation, believing they provide greater transparency and facilitate industry comparisons[15](index=15&type=chunk)[16](index=16&type=chunk) - Investors are cautioned about the material limitations of non-GAAP measures and encouraged to review reconciliations with GAAP results[17](index=17&type=chunk)[18](index=18&type=chunk) [Financial Statements (GAAP)](index=5&type=section&id=Financial%20Statements%20(GAAP)) This section presents Inseego's consolidated GAAP financial statements, including statements of operations, balance sheets, and cash flows for the reported periods [Consolidated Statements of Operations](index=5&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) For Q1 2024, Inseego reported total revenues of $45.0 million, a decrease from $50.8 million in Q1 2023, primarily due to a decline in mobile solutions revenue. Despite this, the company improved its GAAP operating loss to $(1.7) million and reduced its net loss to $(4.5) million, compared to $(3.6) million and $(5.1) million respectively in the prior year. Net loss per common share improved to $(0.44) Consolidated Statements of Operations (in thousands) | Metric (in thousands) | Q1 2024 | Q1 2023 | Change (YoY) | | :-------------------- | :------ | :------ | :----------- | | Mobile solutions revenue | $15,270 | $23,040 | $(7,770) | | Fixed wireless access solutions revenue | $14,182 | $11,870 | $2,312 | | Product revenues | $29,452 | $34,910 | $(5,458) | | Services and other revenue | $15,557 | $15,884 | $(327) | | **Total revenues** | **$45,009** | **$50,794** | **$(5,785)** | | Cost of revenues | $27,617 | $32,607 | $(4,990) | | **Gross profit** | **$17,392** | **$18,187** | **$(795)** | | Total operating costs and expenses | $19,076 | $21,778 | $(2,702) | | **Operating loss** | **$(1,684)** | **$(3,591)** | **$1,907** | | Interest expense, net | $(2,174) | $(1,997) | $(177) | | **Net loss** | **$(4,455)** | **$(5,104)** | **$649** | | Net loss per common share (Basic and diluted) | $(0.44) | $(0.54) | $0.10 | [Consolidated Balance Sheets](index=6&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) As of March 31, 2024, Inseego's total assets slightly increased to $122.1 million from $121.8 million at December 31, 2023, driven by a rise in cash and accounts receivable. Total liabilities grew to $227.7 million, primarily due to the 2025 Notes. The company reported a total stockholders' deficit of $(105.6) million Consolidated Balance Sheets (in thousands) | Metric (in thousands) | March 31, 2024 | December 31, 2023 | Change | | :-------------------- | :------------- | :---------------- | :----- | | Cash and cash equivalents | $12,297 | $7,519 | $4,778 | | Accounts receivable, net | $23,476 | $22,616 | $860 | | Inventories | $20,797 | $22,880 | $(2,083) | | **Total current assets** | **$63,096** | **$58,226** | **$4,870** | | Total assets | $122,068 | $121,797 | $271 | | Accounts payable | $24,013 | $24,795 | $(782) | | Accrued expenses and other current liabilities | $30,805 | $27,022 | $3,783 | | Revolving credit facility | $4,677 | $4,094 | $583 | | **Total current liabilities** | **$59,495** | **$55,911** | **$3,584** | | 2025 Notes, net | $160,284 | $159,912 | $372 | | **Total liabilities** | **$227,657** | **$223,902** | **$3,755** | | Total stockholders' deficit | $(105,589) | $(102,105) | $(3,484) | [Consolidated Statements of Cash Flows](index=7&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) In Q1 2024, Inseego generated $4.5 million in net cash from operating activities, a decrease from $7.7 million in Q1 2023. Net cash used in investing activities significantly decreased to $(0.6) million from $(2.5) million. Notably, net cash from financing activities turned positive at $0.6 million, compared to a net use of $(3.3) million in the prior year. Overall, cash and cash equivalents increased by $4.8 million, ending the period at $12.3 million Consolidated Statements of Cash Flows (in thousands) | Metric (in thousands) | Q1 2024 | Q1 2023 | Change (YoY) | | :-------------------- | :------ | :------ | :----------- | | Net cash provided by operating activities | $4,546 | $7,659 | $(3,113) | | Net cash used in investing activities | $(577) | $(2,504) | $1,927 | | Net cash provided by (used in) financing activities | $583 | $(3,340) | $3,923 | | Net increase in cash and cash equivalents | $4,778 | $1,543 | $3,235 | | Cash and cash equivalents, end of period | $12,297 | $8,686 | $3,611 | [Non-GAAP Reconciliations](index=8&type=section&id=Non-GAAP%20Reconciliations) This section provides reconciliations of GAAP gross margin, operating costs, and net loss to their respective non-GAAP measures, including Adjusted EBITDA [Reconciliation of GAAP Gross Margin and Operating Costs and Expenses to Non-GAAP](index=8&type=section&id=Reconciliation%20of%20GAAP%20Gross%20Margin%20and%20Operating%20Costs%20and%20Expenses%20to%20Non-GAAP) For Q1 2024, Inseego reconciled its GAAP gross margin of 38.6% to a non-GAAP gross margin of 38.7% by adjusting for $31 thousand in share-based compensation expense within cost of revenues. Total GAAP operating costs and expenses of $19.1 million were adjusted to $17.5 million on a non-GAAP basis, primarily by excluding share-based compensation, impairment of capitalized software, and purchased intangibles amortization Reconciliation of GAAP Gross Margin and Operating Costs and Expenses to Non-GAAP (in thousands) | Metric (in thousands) | GAAP | Share-based compensation expense | Impairment of Capitalized Software | Purchased intangibles amortization | Non-GAAP | | :-------------------- | :--- | :------------------------------- | :--------------------------------- | :--------------------------------- | :------- | | Revenues | $45,009 | – | – | – | $45,009 | | Cost of revenues | $27,617 | $(31) | – | – | $27,586 | | Gross Margin | $17,392 | $31 | – | – | $17,423 | | Gross Margin % | 38.6% | | | | 38.7% | | Total operating costs and expenses | $19,076 | $(686) | $(420) | $(423) | $17,547 | [Reconciliation of GAAP Net Loss to Adjusted EBITDA](index=9&type=section&id=Reconciliation%20of%20GAAP%20Net%20Loss%20to%20Adjusted%20EBITDA) In Q1 2024, Inseego reconciled its GAAP net loss of $(4.5) million to an Adjusted EBITDA of $3.8 million. This reconciliation involved adding back non-cash and non-operating items such as income tax provision, interest expense, depreciation and amortization, share-based compensation expense, and impairment of capitalized software Reconciliation of GAAP Net Loss to Adjusted EBITDA (in thousands) | Metric (in thousands) | Q1 2024 | | :-------------------- | :------ | | Net loss | $(4,455) | | Income tax provision (benefit) | $237 | | Interest expense, net | $2,174 | | Other income (expense), net | $360 | | Depreciation and amortization | $4,375 | | Share-based compensation expense | $717 | | Impairment of capitalized software | $420 | | **Adjusted EBITDA** | **$3,828** |

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For fiscal year ended December 31, 2023 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 Incorporation or Organ ...

Exhibit 99.1 Inseego reports Fourth Quarter and Full Year 2023 Financial Results and announces CEO transition Q4 2023 revenue of $42.8 million Q4 2023 Adjusted EBITDA of $4.1 million Fourth consecutive quarter of positive Adjusted EBITDA with $16.7 million in positive Adjusted EBITDA in 2023 Philip Brace appointed Executive Chairman SAN DIEGO—February 21, 2024—Inseego Corp. (Nasdaq: INSG) (the "Company"), a technology leader in 5G and 4G mobile and fixed wireless solutions for mobile network operators, Fort ...

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, 2023 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 ...

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 June 30, 2023 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 Incorporatio ...

Inseego Corp. (NASDAQ:INSG) Q2 2023 Earnings Conference Call August 2, 2023 5:00 PM ET Company Participants Ashish Sharma - Chief Executive Officer Robert Barbieri - Chief Financial Officer Conference Call Participants Scott Searle - ROTH Capital Partners Lance Vitanza - Cowen & Company Jeremy Kwan - Stifel Operator Hello and welcome to Inseego Corp.'s Second Quarter 2023 Financial Results Conference Call. Please note that today's event is being recorded. [Operator Instructions] On the call today are Ashish ...

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 March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Registrant's telephone number, including area code: (858) 812-3400 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol( ...