Inseego (US:INSG)2025-11-06 21:06Financial Performance - Q3 2025 revenue was $45.9 million, representing a 14% sequential growth[4] - Adjusted EBITDA for Q3 2025 was $5.8 million, up 22% sequentially, with GAAP Net Income of $1.4 million[4] - GAAP gross margin for Q3 2025 was 41.6%, marking the third consecutive quarter with gross margin exceeding 40%[4] - Total revenues for Q3 2025 were $45,893 million, a decrease of 15.1% compared to $54,032 million in Q3 2024[21] - Mobile solutions revenue reached $16,037 million, while fixed wireless access solutions generated $17,650 million, showing significant growth from $9,723 million in the previous year[21] - Operating income for Q3 2025 was $2,155 million, compared to $1,016 million in Q3 2024, indicating a positive trend in operational efficiency[21] - Net income attributable to common stockholders for Q3 2025 was $529 million, a decrease from $8,142 million in Q3 2024[21] - GAAP income from continuing operations for Q3 2025 was $1,432 million, a significant increase from $507 million in Q2 2025[27] - Non-GAAP net income for Q3 2025 reached $2,839 million, up from $2,161 million in Q2 2025, reflecting a 31.3% quarter-over-quarter growth[27] - Adjusted EBITDA for Q3 2025 was $5,751 million, compared to $4,726 million in Q2 2025, indicating a 21.7% increase[27] Guidance and Projections - Q4 2025 financial guidance projects revenue in the range of $45.0 million to $48.0 million and Adjusted EBITDA between $4.0 million and $5.0 million[8] Cash and Assets - Cash and cash equivalents decreased to $14,559 million as of September 30, 2025, down from $39,596 million at the end of 2024[23] - Total current assets were $56,985 million, a decline from $72,900 million as of December 31, 2024[23] - The company reported a net cash used in operating activities of $4,763 million for the nine months ended September 30, 2025, compared to $47,710 million in the same period of 2024[25] Expenses and Liabilities - Research and development expenses for Q3 2025 were $4,878 million, slightly down from $5,176 million in Q3 2024[21] - The total liabilities decreased to $93,531 million as of September 30, 2025, from $112,857 million at the end of 2024[23] - Share-based compensation expense increased to $1,850 million in Q3 2025 from $1,654 million in Q2 2025[27] - Interest expense decreased to $885 million in Q3 2025 from $933 million in Q2 2025, showing a reduction of 5.1%[27] - Depreciation and amortization expenses rose to $2,189 million in Q3 2025, compared to $1,792 million in Q2 2025[27] Leadership and Strategic Developments - A new Tier-1 U.S. carrier customer was secured, with FWA shipments expected to begin late in Q4 2025 and mobile shipments in Q1 2026[4] - The FX4200 enterprise FWA solution was launched, expanding into larger enterprises and creating new market paths via MSPs and MSOs[4] - The company appointed Donna Johnson as CMO and Vishal Donthireddy as CTO, enhancing its leadership team[4] Share Performance - GAAP loss per diluted share improved to $0.03 in Q3 2025 from a loss of $0.03 in Q2 2025[27] - Non-GAAP net income per diluted share for Q3 2025 was $0.12, up from $0.08 in Q2 2025, representing a 50% increase[27] - The number of shares used in computing GAAP income per diluted share was 15,522,042 in Q3 2025, an increase from 15,023,832 in Q2 2025[27] Other Financial Impacts - The company reported a gain on debt restructurings of $16,541 million in Q4 2024, which significantly impacted the financial results[27]