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), a leader in 5G mobile and fixed wireless solutions, has announced key additions to its leadership team. David Markland joins as Chief Product Officer, Dean Antonilli as SVP Sales, Service Providers, and Sal Aroon as VP and Head of Operations. These appointments bring extensive wireless operational experience and technical expertise to Inseego.
Markland will lead product management and customer experience teams, aligning hardware, software, and services strategy with company goals. Antonilli will head the service provider sales team, focusing on partnerships with cellular carriers and various network operators. Aroon will oversee global manufacturing operations, supply chain logistics, and distribution functions.
These strategic hires aim to enhance Inseego's position in delivering innovative products and cloud services to customers and service provider partners, addressing market needs and driving growth.
Inseego Corp. (Nasdaq: INSG), a leader in 5G mobile and fixed wireless solutions, has announced it will release its Q2 2024 financial results on August 7, 2024, after market close. The company will host a webcast and conference call at 5:00 p.m. ET (2:00 p.m. PT) on the same day to discuss results and business outlook.
Investors can access the live audio webcast from the company's website. Participants can pre-register for the call or dial in directly. The webcast will be archived for two weeks, and an audio replay will be available until August 22, 2024.
Inseego announced a significant debt reduction and restructuring initiative involving its 3.25% convertible notes due 2025, amounting to $125 million of face value or 80% of outstanding notes. This initiative includes three key transactions: repurchasing $45.9 million of notes from Highbridge Capital Management for $32.1 million in cash; securing a $19.5 million loan to finance this repurchase; and exchanging $80 million of notes held by North Sound Partners and Golden Harbor for long-term debt and equity, all at a 30% discount. This move reduces total debt to $84.3 million and strengthens Inseego's capital structure.
Inseego has launched the MiFi X PRO 5G mobile hotspot, the industry’s first 5G mobile hotspot certified with FIPS 140-2 cryptographic software. This certification meets the stringent standards set by the National Institute of Standards and Technology (NIST), ensuring unparalleled security for government agencies and businesses.
The MiFi X PRO 5G is equipped with the Snapdragon X65/X62 5G Modem-RF System, enabling extensive 5G NR carrier aggregation for broader coverage and faster speeds. This product targets critical sectors like government, finance, healthcare, and infrastructure that require secure data transmission.
Existing MiFi X PRO 5G devices will receive the FIPS 140-2 certification via an over-the-air update. This launch reinforces Inseego’s commitment to providing robust security solutions, especially for U.S. government customers.
Inseego Corp. (Nasdaq: INSG) reported Q1 2024 revenue of $45.0 million with positive Adjusted EBITDA of $3.8 million. The company saw a GAAP net loss of $4.5 million and had unrestricted cash of $12.3 million. Inseego had a strong quarter with good demand across product lines, exceeding revenue and Adjusted EBITDA guidance. The company also paid off its ABL facility, resulting in improved operations and free cash flow. Q2 2024 guidance predicts total revenue of $52.0 million to $56.0 million and Adjusted EBITDA of $6.5 million to $7.5 million.
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