5G revenue growth of 260% year-over-year
Expanded relationship with T-Mobile for 5G
fixed wireless access
Strong 5G enterprise pipeline growth across
multiple regions
Inseego Corp. (Nasdaq: INSG) (the “Company”), a leader in 5G and
intelligent IoT device-to-cloud solutions, today reported its
results for the third quarter ended September 30, 2021. The Company
reported third quarter net revenue of $66.2 million, GAAP operating
loss of $10.0 million, GAAP net loss of $9.0 million, GAAP net loss
of $0.09 per share, negative adjusted EBITDA of $0.8 million, and
non-GAAP net loss of $0.08 per share. Cash and cash equivalents at
quarter end, including restricted cash, was $61.6 million.
“We had a strong third quarter driven by our expanded
relationship with T-Mobile for our 5G fixed wireless access
solution and continued global momentum in our 5G mobile broadband
hotspots,” said Dan Mondor, chairman and CEO of Inseego Corp. “Our
enterprise pipeline grew substantially, and we continue to expand
our channel footprint in multiple geographies to capitalize on
those opportunities. Our combined 5G and cloud solutions
contributed greater than 60% of total revenue in the quarter, a
124% increase from a year ago. This spectacular growth is a direct
result of our strategy to invest in next-generation products.
Recent success with large mobile network operators in North
America, Europe, the Middle East, and Asia-Pacific regions
underlines our continued 5G momentum across our target geographic
segments.”
Corporate Highlights
- Q3 revenue of $66.2 million, up 0.8% sequentially; 9%
sequentially on a pro forma basis after the divestiture of Ctrack
South Africa
- Cash balance of $61.6 million, including restricted cash
- Robert Barbieri appointed Chief Financial Officer
Business Highlights
- 5G revenue up 260% year-over-year
- Cloud software revenue up 25% year-over-year
- Began volume shipments of the Inseego Wavemaker™ FX2000 5G CPE
to support launch by T-Mobile for Business
- New 5G FWA launch with Telstra in Australia in the fourth
quarter
- New 5G mobile broadband launches with Optus Enterprise in
Australia and Sunrise UPC in Switzerland
- Continued 5G pipeline growth in enterprise markets
- Ritesh Mukherjee appointed SVP, Enterprise Networking
Solutions
“Pro forma revenue was up a robust 9% sequentially, driven
predominantly by accelerating demand for our 5G and cloud solutions
portfolio. Looking ahead, our global supply chain, despite the
current environment, is a source of competitive advantage. I
believe the company is poised for another quarter of sequential
growth,” said Bob Barbieri, CFO of Inseego. “We are confident in
our ability to achieve approximately 25% revenue growth in 2022 pro
forma after the sale of our Ctrack South Africa business. I look
forward to working closely with our leadership team as we continue
to execute on our strategic and financial priorities to drive
shareholder value.”
Conference Call Information
Inseego will host a conference call and live webcast for
analysts and investors today at 5:00 p.m. ET. A Q&A session
with analysts will be held live directly after the prepared
remarks. To access the conference call:
- Online, visit
https://investor.inseego.com/events-presentations
- Phone-only participants can pre-register by navigating to
https://dpregister.com/sreg/10159503/ec4823ea5f
- Those without internet access or unable to pre-register may
dial-in by calling:
- In the United States, call 1-844-763-8274
- International parties can access the call at
1-412-717-9224
An audio replay of the conference call will be available
beginning one hour after the call through November 17, 2021. To
hear the replay, parties in the United States may call
1-877-344-7529 and enter access code 10159503 followed by the #
key. International parties may call 1-412-317-0088. In addition,
the Inseego Corp. press release will be accessible from the
Company's website before the conference call begins.
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG) is an industry leader in smart
device-to-cloud solutions that extend the 5G network edge, enabling
broader 5G coverage, multi-gigabit data speeds, low latency and
strong security to deliver highly reliable internet access. Our
innovative mobile broadband, fixed wireless access (FWA) solutions,
and software platform incorporate the most advanced technologies
(including 5G, 4G LTE, Wi-Fi 6 and others) into a wide range of
products that provide robust connectivity indoors, outdoors and in
the harshest industrial environments. Designed and developed in the
USA, Inseego products and SaaS solutions build on the company’s
patented technologies to provide the highest quality wireless
connectivity for service providers, enterprises, and government
entities worldwide. www.inseego.com #Putting5GtoWork
©2021. Inseego Corp. All rights reserved. The Inseego name and
logo, MiFi and Inseego Wavemaker are registered trademarks and
trademarks of Inseego Corp. Other Company, product or service names
mentioned herein are the trademarks of their respective owners.
Cautionary Note Regarding Forward-Looking Statements
Some of the information presented in this news release may
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. In this context,
forward-looking statements often address expected future business
and financial performance and often contain words such as “may,”
“estimate,” “anticipate,” “believe,” “expect,” “intend,” “plan,”
“project,” “will” and similar words and phrases indicating future
results. The information presented in this news release related to
our future business outlook, the future demand for our products, as
well as other statements that are not purely statements of
historical fact, are forward-looking in nature. These
forward-looking statements are made on the basis of management’s
current expectations, assumptions, estimates and projections and
are subject to significant risks and uncertainties that could cause
actual results to differ materially from those anticipated in such
forward-looking statements. We therefore cannot guarantee future
results, performance or achievements. Actual results could differ
materially from our expectations.
Factors that could cause actual results to differ materially
from the Company’s expectations include: (1) the future demand for
wireless broadband access to data and asset management software and
services; (2) the growth of wireless wide-area networking and asset
management software and services; (3) customer and end-user
acceptance of the Company’s current product and service offerings
and market demand for the Company’s anticipated new product and
service offerings; (4) increased competition and pricing pressure
from participants in the markets in which the Company is engaged;
(5) dependence on third-party manufacturers and key component
suppliers worldwide; (6) the impact that new or adjusted tariffs
may have on the cost of components or our products, and our ability
to sell products internationally; (7) the impact of fluctuations of
foreign currency exchange rates; (8) the impact of geopolitical
instability and supply chain challenges on our ability to source
components and manufacture our products; (9) unexpected liabilities
or expenses; (10) the Company’s ability to introduce new products
and services in a timely manner, including the ability to develop
and launch 5G products at the speed and functionality required by
our customers; (11) litigation, regulatory and IP developments
related to our products or components of our products; (12)
dependence on a small number of customers for a significant portion
of the Company’s revenues; (13) the Company’s ability to raise
additional financing when the Company requires capital for
operations or to satisfy corporate obligations; (14) the Company’s
plans and expectations relating to acquisitions, divestitures,
strategic relationships, international expansion, software and
hardware developments, personnel matters, and cost containment
initiatives, including restructuring activities and the timing of
their implementations; (15) the global semiconductor shortage and
any related price increases or supply chain disruptions, and (16)
the potential impact of COVID-19 on the business.
These factors, as well as other factors set forth as risk
factors or otherwise described in the reports filed by the Company
with the SEC (available at www.sec.gov), could cause actual results to differ
materially from those expressed in the Company’s forward-looking
statements. The Company assumes no obligation to update publicly
any forward-looking statements for any reason, even if new
information becomes available or other events occur in the future,
except as otherwise required pursuant to applicable law and our
on-going reporting obligations under the Securities Exchange Act of
1934, as amended.
Non-GAAP Financial Measures
Inseego Corp. has provided financial information in this news
release that has not been prepared in accordance with GAAP.
Adjusted EBITDA, non-GAAP net loss, non-GAAP net loss per share and
non-GAAP operating costs and expenses exclude share-based
compensation expense, amortization of intangible assets purchased
through acquisitions, amortization of discount and issuance costs
related to the Company’s convertible senior notes, loss on debt
conversion and extinguishment relating to convertible senior notes,
and fair value adjustments on derivative instruments. Adjusted
EBITDA also excludes interest, taxes, depreciation and amortization
(unrelated to acquisitions, the convertible senior notes), fair
value adjustment on derivative, gain on sale of Ctrack South
Africa, non-recurring costs, and other.
Adjusted EBITDA, non-GAAP net loss, non-GAAP net loss per share
and non-GAAP operating costs and expenses are supplemental measures
of our performance that are not required by, or presented in
accordance with, GAAP. These non-GAAP financial measures have
limitations as an analytical tool and are not intended to be used
in isolation or as a substitute for operating expenses, net loss,
net loss per share or any other performance measure determined in
accordance with GAAP. We present these non-GAAP financial measures
because we consider each to be an important supplemental measure of
our performance.
Management uses these non-GAAP financial measures to make
operational decisions, evaluate the Company’s performance, prepare
forecasts and determine compensation. Further, management believes
that both management and investors benefit from referring to these
non-GAAP financial measures in assessing the Company’s performance
when planning, forecasting and analyzing future periods.
Share-based compensation expenses are expected to vary depending on
the number of new incentive award grants issued to both current and
new employees, the number of such grants forfeited by former
employees, and changes in the Company’s stock price, stock market
volatility, expected option term and risk-free interest rates, all
of which are difficult to estimate. In calculating non-GAAP
financial measures, management excludes certain non-cash and
one-time items in order to facilitate comparability of the
Company’s operating performance on a period-to-period basis because
such expenses are not, in management’s view, related to the
Company’s ongoing operating performance. Management uses this view
of the Company’s operating performance for purposes of comparison
with its business plan and individual operating budgets and in the
allocation of resources.
The Company further believes that these non-GAAP financial
measures are useful to investors in providing greater transparency
to the information used by management in its operational
decision-making. The Company believes that the use of these
non-GAAP financial measures also facilitates a comparison of our
underlying operating performance with that of other companies in
our industry, which use similar non-GAAP financial measures to
supplement their GAAP results.
In the future, the Company expects to continue to incur expenses
similar to the non-GAAP adjustments described above, and exclusion
of these items in the presentation of our non-GAAP financial
measures should not be construed as an inference that these costs
are unusual, infrequent or non-recurring. Investors and potential
investors are cautioned that there are material limitations
associated with the use of non-GAAP financial measures as an
analytical tool. The limitations of relying on non-GAAP financial
measures include, but are not limited to, the fact that other
companies, including other companies in our industry, may calculate
non-GAAP financial measures differently than we do, limiting their
usefulness as a comparative tool.
Investors and potential investors are encouraged to review the
reconciliation of our non-GAAP financial measures contained within
this news release with our GAAP financial results.
INSEEGO CORP.
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS
(In thousands, except share and
per share data)
(Unaudited)
Three Months Ended September
30,
Nine Months Ended September
30,
2021
2020
2021
2020
Net revenues:
IoT & Mobile Solutions
$
56,975
$
77,342
$
151,770
$
189,071
Enterprise SaaS Solutions
9,242
12,898
37,737
38,698
Total net revenues
66,217
90,240
189,507
227,769
Cost of net revenues:
IoT & Mobile Solutions
43,595
60,135
116,777
148,414
Enterprise SaaS Solutions
3,679
4,935
14,965
14,958
Total cost of net revenues
47,274
65,070
131,742
163,372
Gross profit
18,943
25,170
57,765
64,397
Operating costs and expenses:
Research and development
12,626
10,684
38,954
29,448
Sales and marketing
9,172
8,446
29,997
25,849
General and administrative
6,599
8,699
22,657
23,257
Amortization of purchased intangible
assets
519
779
1,649
2,358
Impairment of capitalized software
—
—
1,197
—
Total operating costs and expenses
28,916
28,608
94,454
80,912
Operating loss
(9,973
)
(3,438
)
(36,689
)
(16,515
)
Other income (expense):
Gain on sale of Ctrack South Africa
5,262
—
5,262
—
Loss on debt conversion and
extinguishment, net
—
(1,180
)
(432
)
(76,354
)
Interest expense, net
(1,655
)
(1,657
)
(5,178
)
(8,197
)
Other income (expense), net
(828
)
1,053
291
2,818
Loss before income taxes
(7,194
)
(5,222
)
(36,746
)
(98,248
)
Income tax provision (benefit)
(4
)
217
445
193
Net loss
(7,190
)
(5,439
)
(37,191
)
(98,441
)
Less: Net income attributable to
noncontrolling interests
—
(3
)
(214
)
(29
)
Net loss attributable to Inseego Corp.
(7,190
)
(5,442
)
(37,405
)
(98,470
)
Series E preferred stock dividends and
deemed dividends from the preferred stock redemption
(1,843
)
(829
)
(3,596
)
(2,056
)
Net loss attributable to common
stockholders
$
(9,033
)
$
(6,271
)
$
(41,001
)
$
(100,526
)
Per share data:
Net loss per common share:
Basic and diluted
$
(0.09
)
$
(0.06
)
$
(0.40
)
$
(1.06
)
Weighted-average shares used in
computation of net loss per common share:
Basic and diluted
103,430,083
98,016,798
102,586,121
95,136,713
INSEEGO CORP.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(In thousands)
(Unaudited)
September 30,
2021
December 31,
2020
ASSETS
Current assets:
Cash and cash equivalents
$
58,114
$
40,015
Restricted cash
3,495
—
Accounts receivable, net
23,065
29,940
Inventories
33,701
33,952
Prepaid expenses and other
11,666
10,201
Total current assets
130,041
114,108
Property, plant and equipment, net
8,705
13,699
Rental assets, net
4,487
6,109
Intangible assets, net
47,710
51,487
Goodwill
21,196
32,511
Right-of-use assets, net
8,010
9,092
Other assets
380
388
Total assets
$
220,529
$
227,394
LIABILITIES AND STOCKHOLDERS’
DEFICIT
Current liabilities:
Accounts payable
$
44,451
$
52,339
Accrued expenses and other current
liabilities
24,403
23,373
Total current liabilities
68,854
75,712
Long-term liabilities:
2025 Notes, net
157,879
165,147
Deferred tax liabilities, net
1,042
4,505
Other long-term liabilities
8,086
9,929
Total liabilities
235,861
255,293
Commitments and Contingencies
Stockholders’ deficit:
Preferred stock
—
—
Common stock
105
99
Additional paid-in capital
766,736
711,487
Accumulated other comprehensive loss
(7,242
)
(6,972
)
Accumulated deficit
(774,931
)
(732,422
)
Total stockholders’ deficit attributable
to Inseego Corp.
(15,332
)
(27,808
)
Noncontrolling interests
—
(91
)
Total stockholders’ deficit
(15,332
)
(27,899
)
Total liabilities and stockholders’
deficit
$
220,529
$
227,394
INSEEGO CORP.
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Three Months Ended September
30,
Nine Months Ended September
30,
2021
2020
2021
2020
Cash flows from operating activities:
Net loss
$
(7,190
)
$
(5,439
)
$
(37,191
)
$
(98,441
)
Adjustments to reconcile net loss to net
cash provided by (used in) operating activities:
Depreciation and amortization
6,080
6,256
19,131
15,948
Provision for bad debts, net of
recoveries
80
166
346
240
Provision for excess and obsolete
inventory
91
250
587
430
Share-based compensation expense
3,062
2,207
14,467
8,188
Amortization of debt discount and debt
issuance costs
371
387
1,117
3,632
Fair value adjustment on derivative
instrument
(1,612
)
(546
)
(3,435
)
(1,372
)
Impairment of capitalized software
—
—
1,197
—
Gain on sale of Ctrack South Africa
(5,262
)
—
(5,262
)
—
Loss on debt conversion and
extinguishment, net
—
1,180
432
76,354
Deferred income taxes
137
100
175
110
Other
19
(108
)
572
50
Changes in assets and liabilities:
Accounts receivable
(3,649
)
2,433
2,834
(19,065
)
Inventories
(7,055
)
(4,803
)
(7,889
)
(2,078
)
Prepaid expenses and other assets
271
1,380
1,429
(3,918
)
Accounts payable
8,809
2,836
(7,206
)
25,170
Accrued expenses, income taxes, and
other
3,121
5,751
3,939
11,464
Net cash (used in) provided by operating
activities
(2,727
)
12,050
(14,757
)
16,712
Cash flows from investing activities:
Acquisition of noncontrolling interest
—
—
(116
)
—
Purchases of property, plant and
equipment
(1,844
)
(2,253
)
(4,299
)
(5,084
)
Proceeds from the sale of property, plant
and equipment
637
92
1,143
327
Proceeds from sale of Ctrack South Africa,
net of sold cash1
31,526
—
31,526
—
Additions to capitalized software
development costs and purchases of intangible assets
(5,220
)
(9,579
)
(20,589
)
(20,216
)
Net cash provided by (used in) investing
activities
25,099
(11,740
)
7,665
(24,973
)
Cash flows from financing activities:
Gross proceeds from the issuance of 2025
Notes
—
—
—
100,000
Payment of issuance costs related to 2025
Notes
—
(1,056
)
—
(3,600
)
Payoff of term loan and related
extinguishment costs
—
—
—
(48,830
)
Cash paid to investors in private exchange
transactions
—
—
—
(32,062
)
Gross proceeds received from issuance of
Series E preferred stock
—
—
—
25,000
Repurchase of Series E preferred stock
—
—
—
(2,354
)
Proceeds from the exercise of warrants to
purchase common stock
—
—
1,861
Net borrowing of bank and overdraft
facilities
20
6
315
110
Principal payments under finance lease
obligations
(965
)
(781
)
(3,138
)
(2,243
)
Proceeds from a public offering, net of
issuance costs
1
—
29,370
—
Proceeds from stock option exercises and
employee stock purchase plan, net of taxes paid on vested
restricted stock units
412
1,441
2,432
2,872
Net cash (used in) provided by financing
activities
(532
)
(390
)
28,979
40,754
Effect of exchange rates on cash
(614
)
(26
)
(293
)
(2,573
)
Net increase in cash, cash equivalents and
restricted cash
21,226
(106
)
21,594
29,920
Cash, cash equivalents and restricted
cash, beginning of period
40,383
42,100
40,015
12,074
Cash, and cash equivalents, end of
period
$
61,609
$
41,994
$
61,609
$
41,994
INSEEGO CORP.
Reconciliation of GAAP Net
Loss Attributable to Common Shareholders to Non-GAAP Net
Loss
(In thousands, except per share
data)
(Unaudited)
Three Months Ended September
30, 2021
Nine Months Ended September
30, 2021
Net Loss
Net Loss Per Share
Net Loss
Net Loss Per Share
GAAP net loss attributable to common
shareholders
$
(9,033
)
$
(0.09
)
$
(41,001
)
$
(0.40
)
Adjustments:
Preferred stock dividends(a)
1,843
0.02
3,596
0.04
Net income attributable to noncontrolling
interests(b)
—
—
214
—
Share-based compensation expense(c)
3,062
0.03
14,467
0.15
Purchased intangibles amortization(d)
737
0.01
2,840
0.03
Debt discount and issuance costs
amortization(e)
371
—
1,117
0.01
Non-recurring costs(f)
1,651
0.02
2,411
0.02
Fair value adjustment on derivative
instrument(g)
(1,612
)
(0.02
)
(3,435
)
(0.03
)
Gain on sale of Ctrack South Africa(h)
(5,262
)
(0.05
)
(5,262
)
(0.05
)
Loss on debt conversion and
extinguishment(i)
—
—
432
—
Non-GAAP net loss
$
(8,243
)
$
(0.08
)
$
(24,621
)
$
(0.23
)
(a)
Includes accrued dividends on Series E
Preferred Stock and deemed dividend as part of preferred stock
exchange.
(b)
Includes net income attributable to
noncontrolling interests at Ctrack South Africa.
(c)
Includes share-based compensation expense
recorded under ASC Topic 718.
(d)
Includes amortization of intangible assets
purchased through acquisitions.
(e)
Includes the debt discount and issuance
costs amortization related to the 2025 Notes.
(f)
Includes transaction costs related to the
sale of Ctrack South Africa and non-recurring legal expenses.
(g)
Includes the fair value adjustment related
to the Company’s interest make-whole derivative instrument.
(h)
Includes the gain on sale of Ctrack South
Africa.
(i)
Includes the loss on debt conversion and
extinguishment of the 2025 Notes.
See “Non-GAAP Financial Measures” for
information regarding our use of Non-GAAP financial measures.
INSEEGO CORP.
Reconciliation of GAAP
Operating Costs and Expenses to Non-GAAP Operating Costs and
Expenses
Three Months Ended September 30,
2021
(In thousands)
(Unaudited)
GAAP
Share-based compensation
expense (a)
Purchased intangibles
amortization (b)
Non-GAAP
Cost of net revenues
$
47,274
$
416
$
217
$
46,641
Operating costs and expenses:
Research and development
12,626
604
—
12,022
Sales and marketing
9,172
614
—
8,558
General and administrative
6,599
1,428
—
5,171
Amortization of purchased intangible
assets
519
—
519
—
Total operating costs and expenses
$
28,916
$
2,646
$
519
$
25,751
Total
$
3,062
$
736
(a)
Includes share-based compensation expense
recorded under ASC Topic 718.
(b)
Includes amortization of intangible assets
purchased through acquisitions.
See “Non-GAAP Financial Measures” for
information regarding our use of Non-GAAP financial measures.
INSEEGO CORP.
Reconciliation of GAAP
Operating Costs and Expenses to Non-GAAP Operating Costs and
Expenses
Nine Months Ended September 30,
2021
(In thousands)
(Unaudited)
GAAP
Share-based compensation
expense (a)
Purchased intangibles
amortization (b)
Non- recurring costs
(c)
Non-GAAP
Cost of net revenues
$
131,742
$
2,229
$
1,190
$
—
$
128,323
Operating costs and expenses:
Research and development
38,954
4,366
—
—
34,588
Sales and marketing
29,997
3,161
—
—
26,836
General and administrative
22,657
4,711
—
150
17,796
Amortization of purchased intangible
assets
1,649
—
1,649
—
—
Impairment of purchased intangible
assets
1,197
—
—
—
1,197
Total operating costs and expenses
$
94,454
$
12,238
$
1,649
$
150
$
80,417
Total
$
14,467
$
2,839
$
150
(a)
Includes share-based compensation expense
recorded under ASC Topic 718.
(b)
Includes amortization of intangible assets
purchased through acquisitions.
(c)
Includes non-recurring legal settlement
costs.
See “Non-GAAP Financial Measures” for
information regarding our use of Non-GAAP financial measures.
INSEEGO CORP.
Reconciliation of GAAP Net
Loss Attributable to Common Shareholders to Adjusted EBITDA
(In thousands)
(Unaudited)
Three Months Ended September
30, 2021
Nine Months Ended September
30, 2021
GAAP net loss attributable to common
shareholders
$
(9,033
)
$
(41,001
)
Preferred stock dividends(a)
1,843
3,596
Income tax provision(b)
(4
)
445
Net income attributable to noncontrolling
interests(c)
—
214
Depreciation and amortization(d)
6,080
19,131
Share-based compensation expense(e)
3,062
14,467
Non-recurring costs(f)
1,651
2,553
Fair value adjustment of derivative(g)
(1,612
)
(3,435
)
Gain on sale of Ctrack South Africa(h)
(5,262
)
(5,262
)
Loss on debt conversion and
extinguishment(i)
—
432
Interest expense, net(j)
1,655
5,178
Other(k)
847
1,990
Adjusted EBITDA
$
(773
)
$
(1,692
)
(a)
Includes accrued dividends on Series E
Preferred Stock and deemed dividend as part of preferred stock
exchange.
(b)
Includes the provision for income
taxes.
(c)
Includes net income attributable to
non-controlling interests at Ctrack South Africa.
(d)
Includes depreciation and amortization
charges, including amortization of intangible assets purchased
through acquisitions.
(e)
Includes share-based compensation expense
recorded under ASC Topic 718.
(f)
Includes transaction costs related to the
sale of Ctrack South Africa and non-recurring legal expenses.
(g)
Includes the fair value adjustment related
to the Company’s interest make-whole derivative instrument.
(h)
Includes the gain on sale of Ctrack South
Africa.
(i)
Includes the loss on debt conversion and
extinguishment of the 2025 Notes.
(j)
Includes interest expense including debt
discount and issuance costs amortization related to the 2025
Notes.
(k)
Includes non-recurring write-down of
assets and foreign currency transaction gains and losses.
See “Non-GAAP Financial Measures” for
information regarding our use of Non-GAAP financial measures.
INSEEGO CORP.
Quarterly Net Revenues by
Product Grouping
(In thousands)
(Unaudited)
Three Months Ended
September 30, 2021
June 30, 2021
March 31, 2021
December 31, 2020
September 30, 2020
IoT & Mobile Solutions
$
56,975
$
51,836
$
42,959
$
72,098
$
77,342
Enterprise SaaS Solutions
9,242
13,857
14,638
13,965
12,898
Total net revenues
$
66,217
$
65,693
$
57,597
$
86,063
$
90,240
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211103005893/en/
Inseego Corp. Media Contact: Anette Gaven +1 (619)
993-3058 Anette.Gaven@inseego.com
or
Investor Relations Contact: Joo-Hun Kim MKR Group +1
(212) 868-6760 joohunkim@mkrir.com
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