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Inseego Corp (INSG) drives innovation in 5G wireless solutions and industrial IoT connectivity for enterprises worldwide. This news hub provides investors and industry professionals with timely updates on strategic developments, financial performance, and technological advancements shaping the future of secure wireless networks.
Access official press releases and curated analysis covering key areas including 5G infrastructure deployments, enterprise cloud solutions, and IoT product launches. Our repository tracks critical updates such as earnings announcements, partnership agreements, and regulatory filings while maintaining strict compliance with financial disclosure standards.
Bookmark this page to monitor Inseego's progress in developing mission-critical connectivity solutions for government agencies, telecom providers, and industrial enterprises. Discover how their hardware-software ecosystem addresses evolving demands for high-speed data transmission and intelligent network management across distributed operations.
Inseego announced the completion of its capital structure management initiative, successfully restructuring its 3.25% convertible notes due 2025. The company exchanged $91.5 million of face value of the notes for long-term debt and equity, resulting in the issuance of 2.4 million shares of common stock, $40.9 million in new senior secured notes due 2029, and warrants to purchase 2.1 million shares. Prior to this, Inseego had repurchased $55.5 million of the notes, totaling $147 million, or 91% of the original $162 million, significantly reducing its debt to $15 million. The new senior secured notes bear a 9.0% interest rate, payable semi-annually, and mature on May 1, 2029. Executive Chairman Philip Brace and CFO Steven Gatoff emphasized the strengthened position for future investments and growth.
Inseego reported Q3 2024 financial results, highlighting revenue of $61.9 million and positive Adjusted EBITDA of $9.3 million. Key developments include the sale of its telematics business for $52 million and a significant debt restructuring. The telematics sale is expected to enhance liquidity and flexibility. Revenue from continuing operations stood at $54.0 million with a gross margin of 34.8%. The company's convertible debt restructuring reduced debt by $91.5 million. Looking ahead, Q4 2024 guidance projects revenue between $43.0 million to $47.0 million and Adjusted EBITDA of $3.0 million to $4.0 million.
Inseego Corp. (Nasdaq: INSG), a leader in 5G mobile and fixed wireless solutions, has announced it will release its financial results for the third quarter of 2024 on November 12, 2024, after market close. The company will host a conference call at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) on the same day to discuss results and business outlook.
Investors can access the live audio webcast from the 'Investors' section of Inseego's website. To join the call, dial 1-844-282-4463 (U.S.) or 1-412-317-5613 (International). An audio replay will be available until November 26, 2024, accessible by calling 1-877-344-7529 (U.S.) or 1-412-317-0088 (International) with access code 1249014.
Inseego Corp. (Nasdaq: INSG) has launched its multi-carrier certified MiFi X PRO 5G mobile hotspot for the Inseego Ignite Channel Program. This marks the first time the industry-leading MiFi hotspot is available for channel partners, certified and unlocked for all major U.S. carriers. The device features:
- Snapdragon X62 5G Modem-RF System
- Multiple connectivity options (Wi-Fi, Ethernet, USB-C)
- Long-lasting battery with external charging capability
- Ability to connect up to 32 devices
- FIPS 140-2 certification for enhanced security
- TAA compliance for government use
- CIPA support for educational settings
The launch aligns with Inseego's recently revamped Ignite Channel Partner program, demonstrating the company's commitment to expanding market presence through channel partners.
Inseego Corp. (Nasdaq: INSG) has announced the sale of its fleet management and telematics business for $52 million in cash to a portfolio holding company of Convergence Partners. The transaction covers operations in the UK, EU, Australia, and New Zealand. This strategic move aligns with Inseego's focus on 5G wireless solutions and its goal to deleverage its capital structure.
The sale proceeds will be used to repay short-term debt, restructure Convertible Notes, and enhance liquidity. The deal is expected to close in early Q4 2024, subject to customary conditions. Inseego's Q3 2024 financial guidance remains unchanged. This divestment follows a previous sale of Ctrack Africa to Convergence in 2021, reunifying the global telematics business under Ctrack.
Inseego Corp. (Nasdaq: INSG) has announced significant steps to improve its capital structure and reduce debt. The company has:
- Paid down $9.5 million (49%) of its short-term loan
- Entered an agreement to exchange $5 million of 3.25% convertible notes due 2025 into long-term debt and equity
- Reduced the outstanding amount under the Loan Agreement to $10 million
- Repurchased or agreed to exchange approximately 91% of the 2025 Convertible Notes
These actions demonstrate Inseego's commitment to strengthening its financial position and generating strong cash flow. The remaining balance of 2025 Convertible Notes is about $14.9 million, which the company plans to repay or refinance by May 2025.
Inseego Corp. (Nasdaq: INSG) has launched the Inseego Wavemaker 5G indoor router FX3110, its first multi-carrier certified Fixed Wireless Access (FWA) 5G router. This device is exclusively available through the Inseego Ignite Channel Program, introduced in April 2024. The FX3110 features:
- Certification on all major U.S. carrier networks
- Dual SIM capability for efficient SIM management
- Integrated internal antennas for easy setup
- Dual WAN/LAN Ethernet ports for cellular failover
- Remote out-of-band serial port management
- Support for up to 64 wireless connections
- Comprehensive security measures
The router is designed for various applications, including remote work, retail, and education. It comes with Inseego Connect and SD EDGE SaaS offerings for enhanced management capabilities.
Inseego Corp. (Nasdaq: INSG) reported strong Q2 2024 financial results, with revenue of $59.1 million and positive Adjusted EBITDA of $8.4 million. The company achieved GAAP net income of $0.6 million and operating income of $2.3 million. Inseego significantly improved its capital structure by restructuring 88% of outstanding convertible notes. Key highlights include:
- Non-GAAP gross margin increased year-over-year from 35.7% to 39.0%
- Unrestricted cash and cash equivalents of $49.0 million as of June 30, 2024
- Launched new Inseego Ignite Channel Program and signed new partner agreements
- Increased MiFi® X PRO sales across all carriers
- Completed certification for latest generation Inseego Wavemaker 5G indoor router
Q3 2024 guidance projects revenue between $54.0-$58.0 million and Adjusted EBITDA of $6.5-$7.5 million.
Inseego Corp. (Nasdaq: INSG) has extended Philip Brace's appointment as Executive Chairman for two additional 6-month terms, effective immediately. Brace highlighted significant improvements in the company over the past six months, including revenue growth, an enhanced product portfolio, and improved capital structure. He emphasized Inseego's strong market presence and long-term prospects, citing strengthened relationships with carrier partners and new partnerships in the channel for mobile broadband and FWA products. The company has also added new executives in product management, operations, and sales. Brace, who joined the Board in September 2023 and became Executive Chairman in February 2024, expressed confidence in Inseego's positioning for continued long-term success.
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.
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