Inseego Corp. - INSG STOCK NEWS

Inseego Corp. (Nasdaq: INSG) reported a strong Q2 2021 with net revenue of $65.7 million, a 14.1% sequential increase. The company faced a GAAP operating loss of $10.5 million and a net loss of $13.9 million, translating to a loss of $0.14 per share. Notably, 5G revenue surged 182% year-over-year, while cloud software revenue rose 49%. The company ended the quarter with $40.4 million in cash. Despite losses, Inseego's transformation into a 5G solutions provider is driving optimism for a stronger second half of the year.

Inseego Corp. (Nasdaq: INSG) has successfully sold its South African Ctrack telematics and asset tracking business to Convergence Partners for 528.9 million ZAR (approximately $36.6 million USD) in an all-cash deal. This divestiture aims to strengthen Inseego's cash position and refocus its efforts solely on the global 5G market. The company retains telematics operations in key markets like Europe and Australia, aligning with its 5G strategy. Inseego is committed to enhancing its 5G solutions and maintaining leadership in device-to-cloud offerings.

Inseego Corp. (NASDAQ: INSG) has launched the Wavemaker PRO 2000e industrial gateway, which incorporates advanced 5G and 4G LTE capabilities for enhanced throughput and reliability. Designed for industrial IoT and enterprise networks, it boasts features like dual SIMs for failover connectivity, advanced security, and a range of deployment options. The S2000e supports various applications, from manufacturing to remote surveillance, and is aimed at ensuring 24/7 business continuity. The product is now available for commercial use and is certified for key private networks.

Inseego Corp. (NASDAQ: INSG) announced that its chairman and CEO, Dan Mondor, will present at the 41st Annual Canaccord Genuity Virtual Growth Conference on August 12 at 11:30 a.m. Eastern. The company will also facilitate virtual one-on-one investor meetings by appointment only throughout the day. A live webcast of the presentation will be available on the investor relations site, with a replay accessible for 90 days post-event. Registration for the conference is mandatory, and further details can be obtained by contacting Canaccord Genuity representatives or Inseego's investor relations.

Inseego Corp. (Nasdaq: INSG) will announce its financial results for the quarter ending June 30, 2021, after the market closes on August 4, 2021. A conference call will follow at 5:00 p.m. ET, featuring a Q&A session for analysts and investors. The call can be accessed via a live audio webcast on their website, and an archive will be available for two weeks. Inseego is recognized for its innovative 5G solutions that enhance connectivity in various environments, utilizing advanced technologies like 5G and Wi-Fi 6.

Inseego Corp (Nasdaq: INSG) will participate in the ROTH Virtual London Conference on June 21, 2021. Key executives, including CEO Dan Mondor, President Ashish Sharma, and CFO Bob Barbieri, are set to engage in one-on-one meetings with investors. Attendance is by invitation only, and registration is necessary. Inseego specializes in 5G and IoT device solutions, enabling extensive 5G coverage and high-speed internet access through advanced technologies like 4G LTE and Wi-Fi 6. Their products cater to service providers, enterprises, and government entities globally.

Inseego Corp. (Nasdaq: INSG) announced the immediate appointment of Stephanie Bowers to its Board of Directors. Ms. Bowers will also join the Nominating and Corporate Governance Committee, bringing her extensive experience in international relations and government affairs. Her background includes two decades at the U.S. government and significant roles at the State Department and the National Security Council. Chairman and CEO Dan Mondor highlighted her potential contributions as Inseego expands into new global markets, particularly concerning security and supply chain aspects of 5G products.

Inseego Corp. (Nasdaq: INSG) announces the promotion of Ashish Sharma to President, effective immediately. Formerly President of IoT & Mobile Solutions since 2020, Sharma will continue to report to Chairman and CEO Dan Mondor, overseeing all business operations, including product development, sales, and marketing. CEO Mondor emphasizes the alignment of the organization for delivering integrated solutions as Inseego enters a new growth phase. Sharma's extensive background in technology and marketing aims to leverage talent for enhancing 5G solutions and creating value for shareholders.

Inseego Corp (Nasdaq: INSG) announced a collaboration with Net4 to simplify 5G private networks deployment for enterprise customers in the UK and Europe. The partnership integrates Net4's platform for ultra-reliable 5G connectivity with Inseego's 5G device portfolio, facilitating cellular-to-ethernet and Wi-Fi gateway services. The solution leverages 5G Stand Alone technology, promising low latency and improved network management. This collaboration aims to reduce deployment costs and enhance connectivity for legacy devices while providing high-density connections and better control over enterprise networks.