Financial Data and Key Metrics Changes - In Q3 2025, the company generated revenue of $45.9 million and adjusted EBITDA of $5.8 million, both exceeding guidance and marking the second consecutive quarter of sequential growth in these metrics [3][16] - Non-GAAP gross margin was reported at 41.8%, reflecting a favorable product mix and strength in FWA [18] - Adjusted EBITDA margin was 12.5%, the third highest in over a decade [18] Business Line Data and Key Metrics Changes - FWA revenue was the second highest in company history, surpassing mobile hotspot revenue for the third time [16] - FWA shipment volumes increased by over 50% year-over-year, indicating strong enterprise adoption [5] - Mobile revenue is expected to grow sequentially in Q4 2025 due to expanded customer contributions and product launches [17][20] Market Data and Key Metrics Changes - The company secured a new Tier 1 US carrier win during Q3, expanding its reach in both FWA and mobile hotspots [6] - The introduction of the FX40 200 is expected to broaden market opportunities and enhance the company's position in the enterprise segment [8] Company Strategy and Development Direction - The company is focused on scaling its core FWA and mobile solutions while evolving into a solutions company that integrates hardware, network management, and software [3] - The strategy includes expanding the product portfolio, adding new carriers, and deepening engagement with MSOs, MSPs, and VARs [9] - Leadership has been strengthened with the addition of experienced executives to support growth initiatives [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory of FWA, driven by increased carrier deployments and favorable market dynamics [31][43] - The company anticipates continued sequential revenue growth in Q4 2025, despite historical seasonality trends [20][22] - Management highlighted the potential for increased demand for domestic suppliers due to regulatory changes affecting foreign competition [40] Other Important Information - The company has filed a universal shelf to enhance financial flexibility and support growth initiatives [19] - The software services revenue remained stable at approximately $12 million, contributing to high-margin revenue [17] Q&A Session Summary Question: Monetization changes for Subscribe and Connect - Management indicated that Inseego Connect has transitioned to a core part of the enterprise platform, driving usage and value capture [25] Question: Seasonal growth expectations for Q1 - Management acknowledged that Q4 typically has fewer selling days, but they expect to maximize opportunities as they enter 2026 [28] Question: Impact of new carrier contracts on revenue - Management expects significant volume growth from new carrier contracts, particularly in the MiFi market [34] Question: Competitive landscape and market share gains - Management believes they are well-positioned to capitalize on opportunities arising from regulatory changes favoring domestic suppliers [40] Question: Feedback on Inseego Connect API - Positive feedback was received regarding the APIs, which are expected to enhance service revenue attach rates [42]