Welcome to our dedicated page for Inseego news (Ticker: INSG), a resource for investors and traders seeking the latest updates and insights on Inseego stock.
Inseego Corp. (symbol: INSG) is a prominent global player in the field of wireless technology and solutions for the Internet of Things (IoT). Headquartered in sunny San Diego, California, the company specializes in the design and development of both fixed and mobile wireless solutions, including cutting-edge technologies for 4G and 5G NR networks. Inseego's comprehensive product portfolio serves a wide array of needs for enterprises, service providers, small and medium-sized businesses, governments, and consumers across the globe.
At the core of Inseego's offerings are their intelligent mobile hotspots, wireless routers designed for IoT applications, USB modems, and a range of integrated telematics and mobile tracking devices. These hardware solutions are complemented by advanced applications software and cloud services, enabling users to seamlessly analyze data insights and manage their hardware configurations.
The company's product lines include the renowned MiFi® intelligent mobile hotspots and modems, the Ctrack™ fleet and vehicle telematics platform, and the Feeney Wireless (FW) IoT consulting services. These solutions deliver consistent and reliable communication and analytics capabilities, catering to both consumer and business markets. As of the latest records, Inseego supports around 155,000 subscribed fleet vehicles for Ctrack among its approximately 510,000 global subscribers.
Generating maximum revenue from the United States and Canada, Inseego also maintains a significant presence in Australia, Europe, including the United Kingdom. The company’s commitment to innovation and excellence positions it as a leader in delivering next-generation wireless solutions that drive connectivity and business intelligence.
Inseego Corp. (Nasdaq: INSG) reported its Q1 results with net revenue of $57.6 million, marking a 1.3% increase year-over-year. However, the company experienced a GAAP operating loss of $16.2 million and net loss of $17.0 million, translating to a loss of $0.18 per share. Cash reserves stood at $59.6 million, with zero bank debt. The 5G and SaaS revenue now represents 44% of total revenue, up from last year. Despite losses, the company noted progress in launching new products and improving gross margins, with a non-GAAP gross margin of 35.7%, an increase of 4.2% year-over-year.
Peachtree Corners has partnered with Inseego Corp (Nasdaq: INSG) to implement advanced 5G solutions in their smart city infrastructure. This collaboration aims to optimize various applications, including autonomous vehicles and intelligent traffic management systems. Utilizing Inseego's Wavemaker™ 5G technologies, the city leverages high-speed connectivity for data-intensive operations, enhancing city management efficiency. This initiative is positioned to further establish Peachtree Corners as a leading model for 5G integration in urban environments.
Inseego Corp. (Nasdaq: INSG) has partnered with ScanSource, Inc. (Nasdaq: SCSC) to enhance its 5G portfolio sales across various enterprise markets. ScanSource will act as a technology services distributor for Inseego's Wavemaker PRO 5G fixed wireless series, enabling customers to place orders for the commercial units now shipped. This collaboration aims to provide high-performance 5G connectivity solutions across sectors like healthcare and retail, facilitating operational efficiency and new revenue opportunities for partners.
Inseego Corp. (Nasdaq: INSG) plans to release its financial results for Q1 2021 on May 5, 2021, after market close. Following the release, a conference call will be held at 5:00 p.m. ET, featuring a Q&A session with analysts. Investors can access the call via a live audio webcast on Inseego's website, which will be archived for two weeks. Additionally, a replay will be available starting one hour after the call until May 19, 2021. Inseego specializes in 5G and IoT solutions, providing reliable connectivity for various industries.
Inseego Corp. (Nasdaq: INSG) announced the availability of its MiFi® 8000 4G LTE mobile hotspot through a major Canadian mobile network operator. The MiFi 8000 is recognized as a leading device in mobile broadband, offering secure connectivity for enterprise and consumer markets. Key features include high LTE speeds, enterprise-grade security, long battery life, and file-sharing capabilities. This development highlights Inseego's strategy to expand its product offerings with existing and new carrier partners.
Inseego Corp. (Nasdaq: INSG) announced the certification of its Wavemaker PRO 5G outdoor CPE FW2000e for deployment in Europe and the U.S., supporting FCC Band 48 and C-band spectrum. This outdoor customer premise equipment enables high-speed 5G/LTE connectivity for enterprises, SMBs, and residential users. The FW2000e's advanced antennas enhance coverage, while Inseego Connect™ software allows for easy management across networks. With significant implications for underserved areas, this solution could bridge the digital divide and cater to various enterprise applications.
Inseego Corp. (Nasdaq: INSG) reported a strong financial performance for Q4 2020, with net revenue of $86.1 million, a 64.5% increase year-over-year. For the full year, net revenue reached $313.8 million, a 43.0% jump from 2019. Despite GAAP net losses of $12.7 million for Q4 and an operating loss of $8.6 million, the company recognized about $37.5 million in 5G revenue and expanded its SaaS cloud solutions significantly, achieving over 3.5 million cloud subscriptions. End-of-year cash totaled $40.0 million.
Inseego Corp. (Nasdaq: INSG) announced a definitive agreement for an affiliate of Convergence Partners to acquire its South African Ctrack operations for approximately 529 million ZAR (around $36.2 million USD). This all-cash transaction aims to strengthen Inseego's balance sheet, allowing further focus on its 5G strategy. The sale is part of a broader plan to transform Inseego into a 5G-centric company. The transaction awaits regulatory approvals and is expected to close in Q2 2021.
Inseego Corp. (Nasdaq: INSG) will announce its financial results for Q4 and the year ending December 31, 2020, after market close on March 1, 2021. Following the announcement, a conference call will be held at 5:00 p.m. ET, featuring a Q&A session with analysts. Interested parties can access a live audio webcast through the company's website and can pre-register for the telephone conference. An audio replay will be available after the call until March 15, 2021. Inseego specializes in 5G and IoT solutions, providing advanced connectivity systems.
Inseego Corp. (Nasdaq: INSG) announced the certification of its Wavemaker PRO 5G indoor router for use in Europe, North America, and Australia, with further certifications pending. Targeted at enterprise customers, this router offers multi-carrier 5G and Wi-Fi 6 connectivity, alongside cloud software for efficient device management. Inseego aims to enhance broadband access for various business needs including remote and secure work. The company is also expanding its global distribution network to support new enterprise solutions.
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