Inseego (INSG) Stock News

Inseego (NASDAQ: INSG) reported Q4 2024 financial results with revenue of $48.1 million and positive Adjusted EBITDA of $5.4 million. The company achieved GAAP Operating Income of $1.8 million and GAAP gross margin of 37.3% for Q4 2024.

Key developments include the sale of their Telematics business for $52.7 million in cash and completion of convertible debt restructuring, exchanging $91.5 million of convertible notes. The company has repurchased or exchanged approximately $147 million, or 91% of aggregate principal amount, of the $162 million convertible notes outstanding as of December 31, 2023.

For Q1 2025, Inseego guides revenue between $30.0-$33.0 million and Adjusted EBITDA of $2.0-$3.0 million, indicating near-term headwinds. However, management expects year-on-year growth in 2025.

Inseego Corp. (NASDAQ: INSG) announced significant leadership changes as Phil Brace steps down as Executive Chairman to become CEO of Skyworks Solutions. Jeff Tuder, who has served on Inseego's board since 2017, has been appointed as independent Chairman effective immediately.

Under Brace's 15-month tenure, Inseego achieved several key milestones, including restructuring its capital structure to reduce debt and improve liquidity, divesting non-core international telematics business, and strengthening the management team. Notable among these changes was the recent appointment of Juho Sarvikas as CEO.

The company confirmed there are no changes to its previously announced Q4 2024 financial guidance, with results to be reported on February 19, 2025. The Board is actively seeking new directors with relevant industry and operating experience.

Inseego Corp. (INSG), a leader in 5G mobile and fixed wireless solutions, has scheduled its Q4 and full-year 2024 financial results announcement for February 19, 2025, 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.

Financial statements and earnings press release will be available on Inseego's website and EDGAR. The conference call can be accessed via webcast from the company's Investors section or by dialing 1-844-282-4463 (U.S.) or 1-412-317-5613 (International). A webcast archive will be available for two weeks, and an audio replay through March 5, 2025, can be accessed using 1-877-344-7529 (U.S.) or 1-412-317-0088 (International) with access code 9063175.

C Spire has launched its 5G Home Internet service to expand rural internet access in Mississippi, where about 23% of households lack internet connectivity. The service utilizes Fixed Wireless Access (FWA) technology through C Spire's nationwide 5G wireless network to deliver high-speed internet to areas without traditional fiber broadband or cable infrastructure.

The service features download speeds up to 100Mbps and includes a premium wireless router. C Spire has partnered with Inseego to implement this expansion, utilizing the Inseego 5G Wavemaker FX3110 indoor cellular router, which can support up to 64 connected devices. The service became available to a number of homes starting January 19.

Inseego Corp. (NASDAQ: INSG) has joined T-Mobile's Partner Plus channel subsidy program, offering their 5G Fixed Wireless Access (FWA) solutions through this new initiative. The program provides significant benefits for businesses, including:

- Up to $700 subsidy credit on select Inseego indoor and outdoor 5G FWA solutions
- Free 3-year Inseego Connect Advanced cloud management with new activations (a $200 value per device)
- Optional Inseego Care extended warranty upgrade from 1 year to 3 or 5 years

This partnership aims to reduce initial equipment costs for enterprise-grade 5G FWA deployment and supports business digital transformation. The program includes enhanced partner incentives, training, and support to drive growth in the 5G sector.

Inseego (Nasdaq: INSG) has launched its next-generation 5G outdoor CPE, the Wavemaker 5G Outdoor CPE FW3000, certified for T-Mobile and US Cellular networks. The device supports download speeds up to 5 Gbps and features high-gain integrated directional antennas with up to 11dBi gain and 8RX receive antennas.

The FW3000 includes enterprise-grade security features, IP67 rating for water and dust protection, and operates in temperatures from -22°F to 158°F. Built with the Snapdragon® X65 5G Modem-RF System, it offers enhanced uplink performance through UL-MIMO technology and improved power efficiency with Power Class 1.5 on n77 and Power Class 2 on B41/n41.

The device comes with Inseego Connect™, a SaaS solution for remote device management, and features a 2.5 Gbps PoE port for easy installation. It's FIPS 140-2 certified and TAA compliant, designed specifically for businesses in urban and rural areas requiring secure, reliable connectivity.

Inseego (NASDAQ: INSG) has appointed Juho Sarvikas as its new Chief Executive Officer and Director, effective immediately. Sarvikas joins from Qualcomm, where he served as President of North America since 2021. He previously held positions at HMD Global as Chief Product Officer, where he led the Nokia phones relaunch.

The company also announced the addition of Brian Miller to its Board of Directors. Miller, Chief Investment Officer of North Sound Partners, represents one of Inseego's largest stockholders with 19.9% of common stock and 53% of senior secured notes. As part of his CEO appointment, Sarvikas will receive inducement awards including 855,000 stock options, 124,347 RSUs, and 167,910 PSUs.

Inseego maintains its previously issued financial guidance for Q4 2024 and plans to announce its fourth quarter and full-year 2024 results in mid-February.

Inseego Corp. (INSG) has completed the sale of its global telematics business to Ctrack Holdings for $52 million in cash. The transaction involves operations across the UK, EU, Australia, and New Zealand. The company has used part of the proceeds to fully repay the remaining $6 million balance under its Loan and Security Agreement. This strategic move allows Inseego to focus on its core 5G business while strengthening its financial position through debt reduction and recapitalization.

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.