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 fourth quarter results for the year ended December 31, 2022, achieving net revenue of $52.9 million. The company experienced significant growth in its FWA business, with a 122% year-over-year increase, contributing to 30% of total revenue. Cloud software revenue rose 6% year-over-year, accounting for 27% of revenue. Despite a GAAP operating loss of $14.2 million and a net loss of $15.3 million, gross margins improved to 30%. Inseego aims for positive EBITDA and cash flow in 2023, driven by FWA growth and cost-saving measures.
Inseego Corp. (NASDAQ: INSG) will release its financial results for the quarter and year ended December 31, 2022, on March 1, 2023, after market close. A conference call will follow at 5:00 PM ET that same day, with a Q&A session for analysts. Participants can access the call via an audio webcast on the company's website, and a replay will be available after the call. Inseego is recognized as a leader in 5G edge cloud solutions, serving millions of end customers and thousands of enterprises with its 4G and 5G platforms, aimed at enhancing business operations and connectivity.
Inseego Corp. (Nasdaq: INSG) has launched its 10th generation MiFi® 5G mobile hotspot, the MiFi X PRO, at T-Mobile, marking a significant addition to their 5G offerings. This advanced device boasts speeds exceeding 1 Gbps, enhanced security features, and versatile connectivity options including an ethernet port and Wi-Fi 6 capabilities. Available for purchase starting November 17, the MiFi X PRO aims to enhance mobile connectivity and deliver superior performance for enterprises leveraging 5G technology.
Inseego Corp. (Nasdaq: INSG) reported Q3 2022 net revenue of $69.2 million, despite a GAAP operating loss of $11.9 million and a net loss of $15.7 million, equating to a loss per share of $0.15. The enterprise FWA business now constitutes over 13% of total revenue, driven by a growing customer base exceeding 1,000 and successful launches of its 5G mobile hotspot with major carriers. Gross profit margins were impacted by elevated supply chain costs, though improvement is expected in Q4.
Inseego Corp. (NASDAQ: INSG) will announce its financial results for the quarter ending
Inseego Corp. (Nasdaq: INSG) has launched the Wavemaker™ FG2000 5G indoor router for business customers of Drei Austria. This router is designed to provide secure and reliable internet with peak speeds over 1 Gbps, featuring modern Wi-Fi 6 capabilities and advanced security measures. It is the second partnership with 3 Group Europe, enhancing Inseego's presence in the European market. The router's easy setup, high throughput, and enterprise-grade security aim to meet growing business needs for efficient connectivity.
Inseego Corp. (Nasdaq: INSG) launched the new MiFi X PRO 5G mobile hotspot, enhancing access to Australia’s largest 5G network through its partnership with Telstra. The device features Wi-Fi 6, a robust battery of 5050 mAh, and security features like Open VPN. Users can expect improved connectivity with advanced 5G capabilities, ensuring high-speed and reliable performance. The MiFi X PRO is available through Telstra stores and online, aiming to strengthen Inseego's foothold in the rapidly growing 5G market.
Inseego Corp. (Nasdaq: INSG) has launched the MiFi® X PRO 5G mobile hotspot, enhancing 5G connectivity with C-Band support and Wi-Fi 6 capabilities. This hotspot offers reliable performance with low latency, robust security features, and all-day battery life. Available through Verizon, this device aims to transform business connectivity and is designed for versatile use in various environments. Developed in North America, the MiFi X PRO leverages advanced technologies for superior internet access.
Inseego Corp. (Nasdaq: INSG) reported Q2 2022 net revenue of $61.9 million with a GAAP operating loss of $10.0 million. The company experienced a 39% year-over-year increase in 5G revenue, while gross margin improved to 29.5%, up from 27.3% in Q1. The launch of the next-generation 5G mobile hotspot and a $50 million credit facility were key highlights. Inseego anticipates a shift towards higher-margin enterprise sales, aiming for cash flow breakeven by year-end.
Inseego Corp. (NASDAQ: INSG) announced that Verizon has certified its 5G fixed wireless access (FWA) portfolio for C-Band spectrum connectivity. This certification enables Verizon customers to utilize the mid-band spectrum to enhance speed and reliability for various applications, including consumer and industrial environments.
Inseego's solutions feature capabilities such as over-the-air updates, dual SIM support, and cloud management, facilitating easy deployment and robust performance. This partnership is expected to accelerate the adoption of 5G services.
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