Inseego Corp Financials
This page shows Inseego Corp (INSG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Inseego’s recent recovery comes from a margin-led reset, while a thin balance sheet keeps capital structure central.
From FY2023 to FY2025, gross profit climbed from$35.8M to$71.0M even though sales stayed below earlier levels, so the business regained viability by earning more on each revenue dollar rather than by restoring old volume. The caveat is that this operating repair only partly reached shareholders: net income fell from$4.6M in FY2024 to$838K in FY2025 even as operating income improved, implying costs below the operating line still absorbed part of the gain.
The balance sheet remains structurally thin because FY2025 assets of
Cash generation now tracks reported profit more closely: FY2025 produced
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Inseego Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Inseego Corp has an operating margin of 2.6%, meaning the company retains $3 of operating profit per $100 of revenue. This below-average margin results in a low score of 16/100, suggesting thin profitability after operating expenses. This is up from 0.9% the prior year.
Inseego Corp's revenue declined 13.1% year-over-year, from $191.2M to $166.2M. This contraction results in a growth score of 33/100.
Inseego Corp has elevated debt relative to equity (D/E of -24.20), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 19/100, reflecting increased financial risk.
Inseego Corp's current ratio of 1.32 is below the typical benchmark, resulting in a score of 22/100. However, the company holds substantial cash reserves (51% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Inseego Corp has a free cash flow margin of 3.9%, earning a moderate score of 45/100. The company generates positive cash flow after capital investments, but with room for improvement.
Inseego Corp scores -10.12, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($214.0M) relative to total liabilities ($97.9M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Inseego Corp passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Inseego Corp generates $8.59 in operating cash flow ($7.2M OCF vs $838K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Inseego Corp generated $166.2M in revenue in fiscal year 2025. This represents a decrease of 13.1% from the prior year.
Inseego Corp's EBITDA was $12.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 10.4% from the prior year.
Inseego Corp reported $838K in net income in fiscal year 2025. This represents a decrease of 81.7% from the prior year.
Inseego Corp earned $-0.18 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 280.0% from the prior year.
Cash & Balance Sheet
Inseego Corp generated $6.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 80.4% from the prior year.
Inseego Corp held $24.9M in cash against $0 in long-term debt as of fiscal year 2025.
Inseego Corp had 16M shares outstanding in fiscal year 2025. This represents an increase of 8.1% from the prior year.
Margins & Returns
Inseego Corp's gross margin was 42.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 6.8 percentage points from the prior year.
Inseego Corp's operating margin was 2.6% in fiscal year 2025, reflecting core business profitability. This is up 1.7 percentage points from the prior year.
Inseego Corp's net profit margin was 0.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.9 percentage points from the prior year.
Capital Allocation
Inseego Corp invested $19.8M in research and development in fiscal year 2025. This represents a decrease of 3.9% from the prior year.
Inseego Corp invested $661K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 561.0% from the prior year.
INSG Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $34.3M-29.1% | $48.4M+5.5% | $45.9M+14.1% | $40.2M+27.0% | $31.7M-34.1% | $48.1M-11.0% | $54.0M+4.7% | $51.6M |
| Cost of Revenue | $17.7M-36.6% | $28.0M+4.4% | $26.8M+13.1% | $23.7M+42.0% | $16.7M-28.9% | $23.5M-33.3% | $35.2M-2.4% | $36.1M |
| Gross Profit | $16.6M-18.7% | $20.4M+7.0% | $19.1M+15.6% | $16.5M+10.2% | $15.0M-16.5% | $17.9M-4.6% | $18.8M0.0% | $18.8M |
| R&D Expenses | $5.8M+4.3% | $5.6M+14.1% | $4.9M+1.2% | $4.8M+6.3% | $4.5M-18.5% | $5.6M+7.5% | $5.2M+0.1% | $5.2M |
| SG&A Expenses | $6.9M+18.0% | $5.9M+3.3% | $5.7M+21.0% | $4.7M+4.7% | $4.5M-1.2% | $4.5M-5.7% | $4.8M+23.1% | $3.9M |
| Operating Income | -$3.6M-373.3% | $1.3M-39.4% | $2.2M+68.4% | $1.3M+401.9% | -$424K-123.7% | $1.8M+76.2% | $1.0M-45.2% | $1.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $34K-2.9% | $35K+197.2% | -$36K-263.6% | $22K-4.3% | $23K-95.6% | $518K+1338.9% | $36K-69.5% | $118K |
| Net Income | -$4.5M-1067.2% | $469K-67.2% | $1.4M+182.4% | $507K+132.3% | -$1.6M-177.4% | -$566K-106.3% | $9.0M+1337.3% | $624K |
| EPS (Diluted) | $0.65 | N/A | $0.03+200.0% | $-0.03+81.3% | $-0.16 | N/A | $-0.06-200.0% | $-0.02 |
INSG Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $84.2M-10.3% | $93.8M+9.3% | $85.8M+3.3% | $83.1M-10.7% | $93.0M-7.0% | $100.0M-11.8% | $113.4M-24.2% | $149.6M |
| Current Assets | $53.3M-16.9% | $64.1M+12.5% | $57.0M+1.4% | $56.2M-15.1% | $66.2M-9.2% | $72.9M-14.3% | $85.1M-8.6% | $93.1M |
| Cash & Equivalents | $19.3M-22.5% | $24.9M+70.9% | $14.6M+10.1% | $13.2M-62.4% | $35.1M-11.2% | $39.6M+230.7% | $12.0M-75.6% | $49.0M |
| Inventory | $12.5M+62.3% | $7.7M-10.2% | $8.6M-42.8% | $15.0M-0.4% | $15.1M+11.3% | $13.6M-25.1% | $18.1M+0.6% | $18.0M |
| Accounts Receivable | $15.7M-37.3% | $25.1M-9.0% | $27.6M+14.5% | $24.1M+99.1% | $12.1M-12.4% | $13.8M-11.6% | $15.6M-24.7% | $20.7M |
| Goodwill | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M-82.0% | $21.9M |
| Total Liabilities | $109.6M+12.0% | $97.9M+4.6% | $93.5M0.0% | $93.6M-11.7% | $106.0M-6.1% | $112.9M-43.1% | $198.5M-21.0% | $251.3M |
| Current Liabilities | $52.1M+7.6% | $48.4M+10.4% | $43.9M-5.2% | $46.2M-21.7% | $59.1M-6.9% | $63.5M-66.4% | $188.9M-21.0% | $239.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$25.4M-528.5% | -$4.0M+47.6% | -$7.7M+26.5% | -$10.5M+19.2% | -$13.0M-1.1% | -$12.9M+84.9% | -$85.1M+16.4% | -$101.8M |
| Retained Earnings | -$897.8M+1.2% | -$908.4M-0.1% | -$907.9M+0.1% | -$908.4M0.0% | -$908.1M-0.3% | -$905.6M-0.2% | -$904.2M+0.9% | -$912.4M |
INSG Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.7M-85.7% | $12.0M+276.9% | $3.2M+171.0% | -$4.5M-28.9% | -$3.5M+75.6% | -$14.2M-195.7% | $14.8M-46.4% | $27.6M |
| Capital Expenditures | $131K-61.5% | $340K+236.6% | $101K-46.3% | $188K+487.5% | $32K-54.3% | $70K+1300.0% | $5K-80.0% | $25K |
| Free Cash Flow | $1.6M-86.4% | $11.6M+278.2% | $3.1M+166.0% | -$4.7M-33.1% | -$3.5M+75.5% | -$14.3M-196.3% | $14.8M-46.4% | $27.6M |
| Investing Cash Flow | -$3.9M-39.2% | -$2.8M-53.2% | -$1.9M+35.4% | -$2.9M-182.4% | -$1.0M-102.2% | $46.7M+3753.0% | -$1.3M+29.0% | -$1.8M |
| Financing Cash Flow | -$3.3M-375.5% | $1.2M+3261.1% | $36K+100.2% | -$14.7M-35145.2% | $42K+100.7% | -$6.0M+86.0% | -$42.8M-555.7% | $9.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
INSG Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.3%+6.2pp | 42.2%+0.6pp | 41.6%+0.5pp | 41.1%-6.3pp | 47.3%+10.0pp | 37.3%+2.5pp | 34.8%-1.7pp | 36.4% |
| Operating Margin | -10.4%-13.1pp | 2.7%-2.0pp | 4.7%+1.5pp | 3.2%+4.5pp | -1.3%-5.1pp | 3.7%+1.8pp | 1.9%-1.7pp | 3.6% |
| Net Margin | -13.2%-14.2pp | 1.0%-2.1pp | 3.1%+1.9pp | 1.3%+6.2pp | -5.0%-3.8pp | -1.2%-17.8pp | 16.6%+15.4pp | 1.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -5.4%-5.9pp | 0.5%-1.2pp | 1.7%+1.1pp | 0.6%+2.3pp | -1.7%-1.1pp | -0.6%-8.5pp | 7.9%+7.5pp | 0.4% |
| Current Ratio | 1.02-0.3 | 1.32+0.0 | 1.30+0.1 | 1.22+0.1 | 1.12-0.0 | 1.15+0.7 | 0.45+0.1 | 0.39 |
| Debt-to-Equity | -4.31+19.9 | -24.20-12.1 | -12.12-3.2 | -8.91-0.8 | -8.16+0.6 | -8.78-6.4 | -2.33+0.1 | -2.47 |
| FCF Margin | 4.6%-19.4pp | 24.0%+17.3pp | 6.7%+18.3pp | -11.6%-0.5pp | -11.1%+18.6pp | -29.7%-57.1pp | 27.4%-26.1pp | 53.5% |
Note: Shareholder equity is negative (-$4.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Inseego Corp's annual revenue?
Inseego Corp (INSG) reported $166.2M in total revenue for fiscal year 2025. This represents a -13.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Inseego Corp's revenue growing?
Inseego Corp (INSG) revenue declined by 13.1% year-over-year, from $191.2M to $166.2M in fiscal year 2025.
Is Inseego Corp profitable?
Yes, Inseego Corp (INSG) reported a net income of $838K in fiscal year 2025, with a net profit margin of 0.5%.
What is Inseego Corp's EBITDA?
Inseego Corp (INSG) had EBITDA of $12.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Inseego Corp's gross margin?
Inseego Corp (INSG) had a gross margin of 42.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Inseego Corp's operating margin?
Inseego Corp (INSG) had an operating margin of 2.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Inseego Corp's net profit margin?
Inseego Corp (INSG) had a net profit margin of 0.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Inseego Corp's free cash flow?
Inseego Corp (INSG) generated $6.5M in free cash flow during fiscal year 2025. This represents a -80.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Inseego Corp's operating cash flow?
Inseego Corp (INSG) generated $7.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Inseego Corp's total assets?
Inseego Corp (INSG) had $93.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Inseego Corp's capital expenditures?
Inseego Corp (INSG) invested $661K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Inseego Corp spend on research and development?
Inseego Corp (INSG) invested $19.8M in research and development during fiscal year 2025.
What is Inseego Corp's current ratio?
Inseego Corp (INSG) had a current ratio of 1.32 as of fiscal year 2025, which is considered adequate.
What is Inseego Corp's debt-to-equity ratio?
Inseego Corp (INSG) had a debt-to-equity ratio of -24.20 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Inseego Corp's return on assets (ROA)?
Inseego Corp (INSG) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Inseego Corp's debt-to-equity ratio negative or unusual?
Inseego Corp (INSG) has negative shareholder equity of -$4.0M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Inseego Corp's Altman Z-Score?
Inseego Corp (INSG) has an Altman Z-Score of -10.12, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Inseego Corp's Piotroski F-Score?
Inseego Corp (INSG) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Inseego Corp's earnings high quality?
Inseego Corp (INSG) has an earnings quality ratio of 8.59x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Inseego Corp?
Inseego Corp (INSG) scores 22 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.