Inseego (US:INSG) Globenewswire·2025-02-19 21:05Core Insights - Inseego Corp. reported Q4 2024 revenue of $48.1 million, with a full year revenue of $191.2 million, reflecting a year-over-year increase [5][21] - The company achieved a positive Adjusted EBITDA of $5.4 million in Q4 2024 and $20.5 million for the full year [5][21] - Inseego completed the sale of its telematics business for $52.7 million in cash, which contributed to improving its capital structure [2][6] Financial Highlights - Q4 2024 revenue was $48.1 million, up from $35.9 million in Q4 2023, representing a 34% increase [5][21] - Full year 2024 revenue reached $191.2 million, compared to $167.3 million in 2023, marking a 14% increase [5][21] - Adjusted EBITDA for Q4 2024 was $5.4 million, compared to a loss in the same quarter of the previous year [5][21] - GAAP gross margin for Q4 2024 was 37.3%, while the full year gross margin was 36.0% [5][21] Capital Structure Improvements - The company restructured its convertible debt, exchanging $91.5 million of principal value for long-term debt and equity, resulting in a significant reduction of approximately 91% of the outstanding convertible notes [3][21] - The completion of the telematics business sale provided additional liquidity and flexibility for future growth initiatives [2][3] Business Highlights - Inseego appointed Juho Sarvikas as the new CEO, aiming to position the company as a leading wireless broadband partner [2][6] - The company achieved record sales of its MiFi X PRO device with a major North American carrier, particularly in the public sector [6] - Inseego secured a large order for its next-generation indoor fixed wireless access (FWA) device from a significant service provider [6] - The company executed a large FWA order with a major Internet Service Provider, enhancing its market presence [6] Q1 2025 Guidance - The company anticipates Q1 2025 revenue in the range of $30.0 million to $33.0 million, with Adjusted EBITDA expected between $2.0 million and $3.0 million [11][21]