What factors drove the changes in Inseego's revenue and profit?

What guidance did Inseego's management provide for the next earnings period?

What were the key takeaways from Inseego's earnings call?

What were the key takeaways from Inseego’s earnings call?

What is Inseego's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for Inseego year over year?

What is Inseego's gross profit margin?

Did Inseego beat or miss consensus estimates last quarter?

- **Q3 Growth Milestones**: $45.9M revenue, $5.8M EBITDA, 50%+ FWA shipment growth, and 3x carrier partnerships.
- **Strategic Product Launches**: FX4200 premium FWA and upgraded Inseego Connect SaaS platform drive enterprise solutions expansion.
- **Leadership Reinforcement**: New CMO, CTO, and Board members enhance execution for 2026 growth.
- **Q4 Outlook**: Sequential revenue growth to $45M-$48M, mobile hotspot recovery, and FWA diversification.
- **2026 Catalysts**: FCC gear restrictions, MSO/Carrier FWA adoption, and U.S.-designed CPE leadership.

**【CEO Summary Section】**
- Q3 revenue of $45.9 million and adjusted EBITDA of $5.8 million, both above guidance, marking consecutive quarterly growth.
- FWA leadership expanded with FX4200 launch, driving 50%+ YoY shipment growth and enterprise adoption across retail, utilities, and MSOs.
- Inseego Connect SaaS platform upgraded to enable zero-touch provisioning, API integration, and carrier/enterprise network management, supporting SaaS attach rates.
- New leadership additions include CMO Donna Johnson and CTO Vishal Donthireddy, plus Board members Nabil Bukhari and Stephen Bye, enhancing strategic execution.

**【CFO Financial Commentary】**
- Q3 non-GAAP gross margin 41.8%, driven by FWA mix; operating expenses $15.6 million, reflecting R&D and G&A investments.
- Q4 guidance: revenue $45M-$48M (sequential growth despite seasonal trends), EBITDA $4M-$5M, with mobile hotspot revenue expected to ramp with new carrier wins.
- 2026 outlook includes FWA expansion, software services growth, and capital structure flexibility via $15M credit facility and universal shelf filing.

**【Q&A Key Highlights】**
- **Software monetization**: Inseego Connect API adoption positive with MSPs, enabling single-pane-of-glass network management; Subscribe SaaS expected to grow with new leadership in 2026.
- **Carrier dynamics**: New Tier 1 carrier adds 1/3 of hotspot market, offsetting ASP erosion with volume; FWA partnerships with T-Mobile and new carrier to drive 2026 share gains.
- **Regulatory tailwinds**: FCC restrictions on foreign gear favor Inseego as U.S.-designed CPE leader, with potential MSO and carrier network replacements.
- **Competitive positioning**: Unique enterprise-grade FWA solution bridges consumer-grade simplicity and carrier-grade performance, capturing 1/8 network bandwidth of consumer FWA.
- **FX4200 impact**: Premium product expands TAM into larger enterprises and MSOs, with Q4 shipments and Q1 carrier ramps driving 2026 growth.

Inseego Corp. (INSG) Q3 2025 Earnings Call Transcript

- **Revenue Milestone**: FWA surpasses mobile hotspot revenue for the first time, signaling strategic shift success.
- **Product Triumph**: FX4100 FWA solution exceeds expectations, with early demand driven by enterprise features.
- **Financial Health**: Q2 EBITDA of $4.7 million (11.7% margin) and $13.2 million cash post-debt reduction highlight improved financial stability.
- **Growth Catalysts**: New Tier 1 carrier wins and channel partner expansion drive FWA and mobile growth.
- **Risk Note**: $10 million educational deal removal underscores regulatory risks to revenue forecasts.

**【CEO Summary Section】**
- **Strategic Momentum**: Q2 marked the first full quarter under new leadership, with a focus on enterprise connectivity solutions. Key achievements include the launch of the FX4100 FWA solution, renewing contracts with two Tier 1 carriers, and securing a new Tier 1 carrier for both mobile and FWA products.
- **Product Success**: The FX4100 exceeded expectations, driven by enterprise-grade features and strong early demand. The X700 WiFi mesh node complements the FWA solution, offering a unified network for enterprises.
- **Software Expansion**: Inseego Connect and Inseego Subscribe are being enhanced with APIs and platform intelligence to transition into a solutions provider. A $10 million educational mobile deal was removed from forecasts due to E-Rate funding delays.
- **Leadership Additions**: New executives in supply chain and business development were hired to support operational excellence and channel expansion.

**【CFO Financial Commentary】**
- **Q2 Financials**: Revenue of $40.2 million, with FWA surpassing mobile hotspot revenue for the first time. Non-GAAP gross margin of 41.2% and adjusted EBITDA of $4.7 million (11.7% margin). Services revenue remained stable at $12 million.
- **Balance Sheet Strength**: $13.2 million in cash post-converter note payoff, reducing debt to $41 million (2x LTM EBITDA). A $15 million working capital facility was secured for operational flexibility.
- **Q3 Guidance**: Revenue $40-43 million, EBITDA $4-5 million, driven by FWA momentum and mobile volume growth. Capitalized R&D spend will increase for new product development.

**【Q&A Highlights】**
- **Enterprise Deal Details**: A multimillion-dollar agreement with an S&P 500 company was secured through the IGNITE channel partner program, highlighting the value of hardware-software integration. Revenue recognition is project-based, with potential for recurring services.
- **Cash Flow Dynamics**: AR growth reflects strong FX4100 demand, while inventory builds support future product launches. Cash flow focus balances investment and collections.
- **FWA Growth Outlook**: FWA is expected to exceed mobile revenue over time, driven by enterprise adoption and new carrier wins. Software monetization efforts aim to expand services revenue.
- **Risk Factors**: Dependence on carrier demand and regulatory delays (e.g., E-Rate funding) could impact future growth.

Inseego (INSG)-7 Aug 25-2025 Q2 Earnings call transcript

- **Q1 Financial Strength**: $3.7M adjusted EBITDA (11.6% margin), 47.5% gross margin, and $35M+ cash on hand.
- **5G Leadership**: First-to-market 5G Advanced solution with Qualcomm, driving carrier interest in enterprise-grade FWA.
- **Growth Catalysts**: Q2 FWA deal, T-Mobile channel subsidies, and full-stack software solutions targeting SMB/enterprise IoT.
- **Debt Reduction & Cash Flow**: $15M debt repayment, targeting positive free cash flow in 2025.

**【CEO Summary Section】**
- Q1 2025 revenue was within guidance, with adjusted EBITDA exceeding expectations at $3.7 million (11.6% margin). Key drivers included strong cost control and strategic investments in AI and 5G Advanced solutions.
- Highlighted the first-ever 5G Advanced 3GPP Release 18 data call with Qualcomm's Dragonwing Gen 4 platform, positioning Inseego as a leader in enterprise-grade wireless solutions.
- Strategic focus on expanding FWA and MiFi partnerships with Tier 1 carriers and MSOs, with new product launches and supply chain optimizations to reduce costs and improve efficiency.
- Accelerating software-defined solutions (Inseego Connect and Inseego Subscribe) to create full-stack offerings, targeting annual recurring revenue growth.

**【CFO Financial Commentary】**
- Q1 non-GAAP gross margin reached a record 47.5%, driven by favorable revenue mix (services growth) and operational efficiency.
- Total debt reduced to $41 million post-Q1, with $15 million convertible notes repaid. Q2 guidance: revenue $37-40 million, adjusted EBITDA $2.5-3.5 million.
- Free cash flow expected to turn positive in 2025, supported by second-half product revenue growth and reduced R&D/investment spend.

**【Q&A Key Takeaways】**
- **Channel Expansion**: Large FWA deal expected to close in Q2, with T-Mobile Partner Plus program offering subsidies for channel products.
- **Competitive Positioning**: American IP ownership and optimized supply chain (Taiwan/Vietnam manufacturing) mitigate geopolitical risks.
- **Long-Term Targets**: High-30s% gross margin (mix-dependent), with incremental R&D/S&M spend for new product launches and go-to-market scale.
- **Macro Resilience**: No pipeline slippage observed; carriers prioritize enterprise-grade wireless solutions despite macro uncertainty.

Inseego (INSG)-8 May 25-2025 Q1 Earnings call transcript

- **Revenue Growth**: Q4 2024 up 34% YoY to $48.1M, with 2025 full-year growth expected despite Q1 decline.
- **Margin Expansion**: Gross margin 37.4% in Q4, targeting further improvement in 2025 via FWA/services mix.
- **Debt Reduction**: Net debt cut from $165M to $16M, with $40M cash post-Telematics sale.
- **Strategic Shifts**: Scaling FWA into enterprise/industrial, expanding MiFi into mass-market, and doubling down on SaaS (Inseego Connect/Subscribe).
- **2025H2 Catalysts**: New FWA products, carrier stock SKUs, and expanded enterprise sales driving late-year growth.

**【CEO Opening Remarks】**
- **Company Transformation**: Optimized working capital, reduced debt by 65% (from $165M to $56M), and sold non-core Telematics business for $52M, doubling the multiple of previous sale.
- **Market Opportunity**: Wireless broadband entering 'golden age' with 2B 5G connections globally, FWA as fastest-growing US broadband segment. 6G spectrum (7-8 GHz) expected to unlock new growth.
- **Strategic Focus**: 
  1. **Scale FWA & MiFi**: Expand product tiers (e.g., carrier SKUs, mid-tier MiFi), target enterprise/industrial segments, and leverage carrier VAR partnerships.
  2. **Software & Services Growth**: Enhance Inseego Connect (SaaS platform for device management) with AI-driven network slicing, and expand Inseego Subscribe SaaS.
  3. **Operations Efficiency**: Realign procurement, ODM, and manufacturing to reduce costs and improve margins.
- **2024 Performance**: Q4 revenue $48.1M (+34% YoY), 3rd straight quarter of positive GAAP operating income, 11.2% adjusted EBITDA margin.
- **2025 Outlook**: Q1 revenue $30-33M (sequential decline due to inventory destocking), but full-year growth driven by new products (e.g., FWA refreshes) and expanded customer base.

**【CFO Financial Highlights】**
- **Q4 2024 Results**: 
  - Revenue: $48.1M (+34% YoY), driven by 59% YoY growth in carrier hotspot sales and 62% YoY growth in SaaS.
  - Gross Margin: 37.4% (vs. 35.6% Q4 2023), up 260bps QoQ.
  - Adjusted EBITDA: $5.4M (+112% YoY), margin 11.2%.
  - Cash: $40M post-Telematics sale, net debt $16M.
- **2025 Guidance**: 
  - Full-year revenue growth vs. 2024 ($191.2M). 
  - Q1 2025: Adjusted EBITDA $2-3M, with margin improvement as higher-margin FWA/services mix grows.
  - 2025+: Target to reduce OpEx as % of revenue (30% in Q4 2024 vs. 43% 2023).

**【Q&A Key Takeaways】**
- **Growth Drivers 2025H2**: New FWA products, expanded enterprise/industrial sales, and carrier stock SKUs in mass-market MiFi segments.
- **Supply Chain Strategy**: Partner with best-in-class ODMs/manufacturers to scale while maintaining US engineering leadership.
- **Customer Relationships**: Leveraging Juho's carrier network to accelerate deals, with 2B+ 5G connections globally creating tailwinds.
- **Risk Mitigation**: Diversifying customer base beyond single carrier dependency, with 2025 focus on 5+ major carrier partners.


INSG

INSG fundamentals

Earnings Call

You can ask Aime