Inseego Corp. - INSG STOCK NEWS

Inseego Corp. (Nasdaq: INSG) announced that chairman and CEO Dan Mondor will present at the 16th Annual Needham Virtual Technology & Media Conference on May 18, 2021, at 3:45 p.m. ET. The company will also facilitate one-on-one meetings with investors on the same day. A live webcast of the presentation will be available on the company's investor relations site, with a replay accessible for 90 days afterwards. Inseego specializes in 5G and intelligent IoT solutions aimed at enhancing connectivity and performance across various environments.

UScellular, Qualcomm, Ericsson, and Inseego have achieved a significant milestone in 5G technology by establishing the longest 5G mmWave Fixed Wireless Access (FWA) connection in the US, reaching a distance of 7 km with sustained downlink speeds of approximately 1 Gbps and peak speeds over 2 Gbps in Janesville, Wisconsin. This advancement enables enhanced broadband services for rural and urban areas, addressing connectivity challenges and facilitating high-speed internet for homes, schools, and healthcare facilities.

Inseego Corp. (Nasdaq: INSG) reported its Q1 results with net revenue of $57.6 million, marking a 1.3% increase year-over-year. However, the company experienced a GAAP operating loss of $16.2 million and net loss of $17.0 million, translating to a loss of $0.18 per share. Cash reserves stood at $59.6 million, with zero bank debt. The 5G and SaaS revenue now represents 44% of total revenue, up from last year. Despite losses, the company noted progress in launching new products and improving gross margins, with a non-GAAP gross margin of 35.7%, an increase of 4.2% year-over-year.

Peachtree Corners has partnered with Inseego Corp (Nasdaq: INSG) to implement advanced 5G solutions in their smart city infrastructure. This collaboration aims to optimize various applications, including autonomous vehicles and intelligent traffic management systems. Utilizing Inseego's Wavemaker™ 5G technologies, the city leverages high-speed connectivity for data-intensive operations, enhancing city management efficiency. This initiative is positioned to further establish Peachtree Corners as a leading model for 5G integration in urban environments.

Inseego Corp. (Nasdaq: INSG) has partnered with ScanSource, Inc. (Nasdaq: SCSC) to enhance its 5G portfolio sales across various enterprise markets. ScanSource will act as a technology services distributor for Inseego's Wavemaker PRO 5G fixed wireless series, enabling customers to place orders for the commercial units now shipped. This collaboration aims to provide high-performance 5G connectivity solutions across sectors like healthcare and retail, facilitating operational efficiency and new revenue opportunities for partners.

Inseego Corp. (Nasdaq: INSG) plans to release its financial results for Q1 2021 on May 5, 2021, after market close. Following the release, a conference call will be held at 5:00 p.m. ET, featuring a Q&A session with analysts. Investors can access the call via a live audio webcast on Inseego's website, which will be archived for two weeks. Additionally, a replay will be available starting one hour after the call until May 19, 2021. Inseego specializes in 5G and IoT solutions, providing reliable connectivity for various industries.

Inseego Corp. (Nasdaq: INSG) announced the availability of its MiFi® 8000 4G LTE mobile hotspot through a major Canadian mobile network operator. The MiFi 8000 is recognized as a leading device in mobile broadband, offering secure connectivity for enterprise and consumer markets. Key features include high LTE speeds, enterprise-grade security, long battery life, and file-sharing capabilities. This development highlights Inseego's strategy to expand its product offerings with existing and new carrier partners.

Inseego Corp. (Nasdaq: INSG) announced the certification of its Wavemaker PRO 5G outdoor CPE FW2000e for deployment in Europe and the U.S., supporting FCC Band 48 and C-band spectrum. This outdoor customer premise equipment enables high-speed 5G/LTE connectivity for enterprises, SMBs, and residential users. The FW2000e's advanced antennas enhance coverage, while Inseego Connect™ software allows for easy management across networks. With significant implications for underserved areas, this solution could bridge the digital divide and cater to various enterprise applications.

Inseego Corp. (Nasdaq: INSG) reported a strong financial performance for Q4 2020, with net revenue of $86.1 million, a 64.5% increase year-over-year. For the full year, net revenue reached $313.8 million, a 43.0% jump from 2019. Despite GAAP net losses of $12.7 million for Q4 and an operating loss of $8.6 million, the company recognized about $37.5 million in 5G revenue and expanded its SaaS cloud solutions significantly, achieving over 3.5 million cloud subscriptions. End-of-year cash totaled $40.0 million.