Inseego Reports Second Quarter 2025 Financial Results
Inseego (NASDAQ: INSG) reported strong Q2 2025 financial results, with revenue reaching $40.2 million, up 27% sequentially. The company achieved $4.7 million in Adjusted EBITDA (29% increase) and posted positive GAAP Net Income of $0.5 million.
Key achievements include the successful launch of their FX4100 FWA enterprise-grade wireless router, renewal of MiFi products with two tier-1 carriers, and addition of a new tier-1 carrier. The company maintained strong gross margins at 41.1% and paid off $14.9 million in convertible notes while securing a new $15.0 million working capital facility.
For Q3 2025, Inseego guides revenue of $40.0-43.0 million and Adjusted EBITDA of $4.0-5.0 million.
Inseego (NASDAQ: INSG) ha riportato solidi risultati finanziari nel secondo trimestre 2025, con ricavi che hanno raggiunto 40,2 milioni di dollari, in aumento del 27% rispetto al trimestre precedente. L'azienda ha registrato un EBITDA rettificato di 4,7 milioni di dollari (incremento del 29%) e un utile netto GAAP positivo di 0,5 milioni di dollari.
Tra i risultati principali si segnalano il lancio con successo del router wireless FX4100 FWA di livello enterprise, il rinnovo dei prodotti MiFi con due operatori di primo livello e l'aggiunta di un nuovo operatore di primo livello. L'azienda ha mantenuto margini lordi solidi al 41,1% e ha estinto 14,9 milioni di dollari di note convertibili, assicurandosi inoltre una nuova linea di credito per il capitale circolante di 15,0 milioni di dollari.
Per il terzo trimestre 2025, Inseego prevede ricavi tra 40,0 e 43,0 milioni di dollari e un EBITDA rettificato compreso tra 4,0 e 5,0 milioni di dollari.
Inseego (NASDAQ: INSG) reportó sólidos resultados financieros en el segundo trimestre de 2025, con ingresos que alcanzaron 40,2 millones de dólares, un aumento del 27% secuencial. La compañía logró un EBITDA ajustado de 4,7 millones de dólares (incremento del 29%) y registró un ingreso neto GAAP positivo de 0,5 millones de dólares.
Los logros clave incluyen el exitoso lanzamiento de su router inalámbrico FX4100 FWA de grado empresarial, la renovación de productos MiFi con dos operadores de primer nivel y la incorporación de un nuevo operador de primer nivel. La empresa mantuvo márgenes brutos sólidos del 41,1% y pagó 14,9 millones de dólares en notas convertibles, además de asegurar una nueva línea de capital de trabajo por 15,0 millones de dólares.
Para el tercer trimestre de 2025, Inseego proyecta ingresos de 40,0 a 43,0 millones de dólares y un EBITDA ajustado de 4,0 a 5,0 millones de dólares.
Inseego (NASDAQ: INSG)는 2025년 2분기 강력한 재무 실적을 보고했으며, 매출은 4,020만 달러로 전분기 대비 27% 증가했습니다. 회사는 조정 EBITDA 470만 달러(29% 증가)를 달성했으며, GAAP 순이익은 50만 달러의 흑자를 기록했습니다.
주요 성과로는 FX4100 FWA 엔터프라이즈급 무선 라우터의 성공적인 출시, 두 개의 1급 통신사와 MiFi 제품 갱신, 그리고 새로운 1급 통신사 추가가 포함됩니다. 회사는 41.1%의 견고한 총 마진을 유지했으며, 전환사채 1,490만 달러를 상환하고 1,500만 달러의 운전자본 시설을 확보���습니다.
2025년 3분기 Inseego는 매출을 4,000만~4,300만 달러, 조정 EBITDA를 400만~500만 달러로 예상하고 있습니다.
Inseego (NASDAQ : INSG) a annoncé de solides résultats financiers pour le deuxième trimestre 2025, avec un chiffre d'affaires atteignant 40,2 millions de dollars, en hausse de 27 % par rapport au trimestre précédent. L'entreprise a réalisé un EBITDA ajusté de 4,7 millions de dollars (augmentation de 29 %) et affiché un résultat net GAAP positif de 0,5 million de dollars.
Parmi les principales réalisations figurent le lancement réussi de leur routeur sans fil FX4100 FWA de qualité entreprise, le renouvellement des produits MiFi avec deux opérateurs de premier rang, ainsi que l'ajout d'un nouvel opérateur de premier rang. La société a maintenu des marges brutes solides à 41,1 % et a remboursé 14,9 millions de dollars de billets convertibles tout en obtenant une nouvelle facilité de fonds de roulement de 15,0 millions de dollars.
Pour le troisième trimestre 2025, Inseego prévoit un chiffre d'affaires compris entre 40,0 et 43,0 millions de dollars et un EBITDA ajusté entre 4,0 et 5,0 millions de dollars.
Inseego (NASDAQ: INSG) meldete starke Finanzergebnisse für das zweite Quartal 2025, mit einem Umsatz von 40,2 Millionen US-Dollar, was einem Anstieg von 27 % gegenüber dem Vorquartal entspricht. Das Unternehmen erzielte ein bereinigtes EBITDA von 4,7 Millionen US-Dollar (Steigerung um 29 %) und verzeichnete einen positiven GAAP-Nettogewinn von 0,5 Millionen US-Dollar.
Zu den wichtigsten Erfolgen zählen die erfolgreiche Einführung ihres FX4100 FWA Enterprise-Wireless-Routers, die Verlängerung der MiFi-Produkte mit zwei Tier-1-Anbietern und die Aufnahme eines neuen Tier-1-Anbieters. Das Unternehmen hielt eine starke Bruttomarge von 41,1 % und tilgte 14,9 Millionen US-Dollar an Wandelanleihen, während es eine neue 15,0 Millionen US-Dollar Betriebskapitalfazilität sicherte.
Für das dritte Quartal 2025 prognostiziert Inseego einen Umsatz von 40,0 bis 43,0 Millionen US-Dollar und ein bereinigtes EBITDA von 4,0 bis 5,0 Millionen US-Dollar.
- Revenue increased 27% sequentially to $40.2 million
- Adjusted EBITDA grew 29% to $4.7 million
- Strong gross margin of 41.1% for second consecutive quarter
- Secured new tier-1 carrier for both mobile and FWA products
- Successfully paid off $14.9 million convertible notes
- Obtained $15.0 million working capital facility for additional flexibility
- Q3 guidance suggests flat to modest sequential revenue growth
- Q3 Adjusted EBITDA guidance indicates potential sequential decline
Insights
Inseego delivered strong Q2 results with revenue growth, sustained profitability, debt reduction, and promising product launches.
Inseego has demonstrated meaningful financial improvement in Q2 2025, with
The gross margin of
From a balance sheet perspective, Inseego has made excellent progress by paying off its
The Q3 guidance projects continued momentum with revenue of
Beyond the financials, Inseego's business developments are encouraging, particularly the launch of their third-generation FX4100 product with T-Mobile and securing relationships with multiple Tier 1 carriers. The addition of a new Tier 1 carrier for both mobile and FWA products represents a significant opportunity for channel expansion. The multi-million dollar enterprise agreement with an S&P 500 company demonstrates potential for larger, more lucrative deals that combine hardware and software solutions.
The addition of experienced executives with backgrounds in supply chain management and business development addresses two critical areas for sustaining growth - operational efficiency and sales pipeline expansion. Furthermore, the appointment of George Mulhern to the board brings valuable industry experience from Cradlepoint, a company with similar market positioning.
Q2 2025 revenue of
Q2 2025 Adjusted EBITDA of
Paid off
Entered into a
SAN DIEGO, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Inseego Corp. (Nasdaq: INSG) (the “Company”), a technology leader in 5G mobile and fixed wireless solutions for mobile network operators, Fortune 500 enterprises and SMBs, today reported its results for the second quarter of 2025 ended June 30, 2025.
“We hit several major milestones this quarter at Inseego, including the highly successful launch of our new FWA enterprise-grade wireless router, the FX4100. We also were successful in renewing our stocked MiFi products with our two large tier 1 carrier customers while adding a new tier 1 carrier to stock both our mobile and FWA products starting later this year,” said Juho Sarvikas, Chief Executive Officer of Inseego. “We delivered ahead of expectations, while continuing to invest in our product roadmap, software platforms and go-to-market strategy. We are continuing to execute against our strategy to deliver durable growth and profitability and believe we are well positioned to deliver meaningful long-term value for stockholders.”
Steven Gatoff, Chief Financial Officer of Inseego, added: “We were pleased to deliver results ahead of guidance for both revenue and Adjusted EBITDA, and generate positive GAAP Operating and Net Income. We’re gaining traction in the marketplace with our new products and our work on adding additional operating flexibility and liquidity to further enhance the Company’s capital structure will allow us to take advantage of these market opportunities. As we continue executing on our strategy, we remain committed to driving revenue growth, sustaining adjusted EBITDA profitability, and generating cash to support long-term value creation.”
Q2 2025 Financial Highlights
- Revenue for Q2 2025 was
$40.2 million , up27% sequentially. - Adjusted EBITDA for Q2 2025 was
$4.7 million , up29% sequentially. - GAAP gross margin for Q2 2025 was
41.1% , the Company’s second consecutive quarter with gross margin exceeding40% .
Business Highlights
- Launched our third generation FX4100 with T-Mobile, leveraging our new Edge Router OS, significantly upgraded Inseego Connect SaaS feature set, and our new X700 mesh Wi-Fi nodes. Initial sales momentum has already outpaced the adoption levels of our previous two generations, signaling strong market demand.
- Renewed our stocked MiFi products with our two existing Tier 1 carrier customers. This is our 11th generation in this category, demonstrating our leadership in mobile broadband – and this generation will allow us to target both the business and consumer mobile broadband MiFi market.
- Expanded our carrier footprint by adding a new Tier 1 carrier customer to stock both our mobile and FWA next generation products, with shipments expected to begin late in 2025.
- Closed a multi-million-dollar enterprise agreement with an industrial S&P 500 company — facilitated through one of our Inseego IGNITE channel partners for a deployment that combines our high-performance hardware with Inseego Connect software.
- Announced appointments of Lawrence Hau as Chief Supply Chain Officer, and Zack Kowalski as SVP of Business Development. The addition of these industry leaders reinforces our focus on operational discipline and scalable go‑to‑market execution.
- Appointed George Mulhern, seasoned wireless industry leader and former Chairman and CEO of Cradlepoint, Inc., to the Company’s Board of Directors.
- Entered into a
$15.0 million undrawn working capital facility with BMO Bank.
Q3 2025 Guidance
- Total revenue in the range of
$40.0 million to$43.0 million . - Adjusted EBITDA in the range of
$4.0 million to$5.0 million .
Our Q3 2025 financial guidance does not include any potential impact of the evolving tariff environment.
Conference Call Information
Inseego will host a conference call and live webcast today at 5:00 p.m. ET. A Q&A session will be held live directly after the prepared remarks. To access the conference call:
- Online, visit https://investor.inseego.com/events-presentations
- Those without internet access or unable to pre-register may dial in by calling:
- In the United States, call 1-844-282-4463
- International parties can access the call at 1-412-317-5613
An audio replay of the conference call will be available one hour after the call through August 21, 2025. To hear the replay, parties in the United States may call 1-877-344-7529 and enter access code 4033918 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 the industry leader in 5G Enterprise cloud WAN solutions with millions of end customers and thousands of enterprise and SMB customers on its 4G, 5G and cloud platforms. Inseego’s 5G Edge Cloud combines the industry’s best 5G technology, rich cloud networking features and intelligent edge applications. Inseego powers new business experiences by connecting distributed sites and workforces, securing enterprise data and improving business outcomes with intelligent operational visibility—all over a 5G network. For more information on Inseego, visit www.inseego.com.
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, and other statements that are not purely historical facts are forward-looking. These forward-looking statements are based on management’s current expectations, assumptions, estimates, and projections. They are subject to significant risks and uncertainties that could cause 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 Company’s dependence on a small number of customers for a substantial portion of our revenues; (2) the future demand for wireless broadband access to data and asset management software and services and our ability to accurately forecast; (3) the growth of wireless wide-area networking and asset management software and services; (4) 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; (5) our ability to develop sales channels and to onboard channel partners; (6) increased competition and pricing pressure from participants in the markets in which the Company is engaged; (7) dependence on third-party manufacturers and key component suppliers worldwide; (8) the impact of fluctuations of foreign currency exchange rates; (9) the impact of supply chain challenges on our ability to source components and manufacture our products; (10) unexpected liabilities or expenses; (11) 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; (12) litigation, regulatory and IP developments related to our products or components of our products; (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, (16) the potential impact of COVID-19 or other global public health emergencies on the business, (17) the impact of high rates of inflation and rising interest rates, (18) the impact of import tariffs on our materials and products, and (19) the impact of geopolitical instability on our 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 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, even if new information becomes available or other events occur in the future, except as otherwise required under applicable law and our ongoing reporting obligations under the Securities Exchange Act of 1934, as amended.
Non-GAAP Financial Measures
Inseego Corp. has provided financial information in this press release that has not been prepared in accordance with GAAP. Adjusted EBITDA and non-GAAP operating costs and expenses, for example, exclude preferred stock dividends, share-based compensation expense, amortization of intangible assets purchased through acquisitions, amortization of discount/premium and issuance costs related to our 2029 Senior Secured Notes, 2025 Notes and revolving credit facility, fair value adjustments on derivative instruments, and other non-recurring expenses. Adjusted EBITDA excludes interest, taxes, depreciation, amortization, impairment of capitalized software, impairment of long-lived assets, debt restructuring costs and divestiture related costs, along with certain other non-recurring expenses and foreign exchange gains and losses.
Adjusted EBITDA, non-GAAP cost of revenues, 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. They are not intended to be used in isolation or as a substitute for cost of revenues, 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 them to be an important supplemental performance measure.
We use these non-GAAP financial measures to make operational decisions, evaluate our performance, prepare forecasts and determine compensation. Further, management and investors benefit from referring to these non-GAAP financial measures in assessing our 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 our 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, we exclude certain non-cash and one-time items to facilitate comparability of our operating performance on a period-to-period basis because such expenses are not, in our view, related to our ongoing operational performance. We use this view of our operating performance to compare it with the business plan and individual operating budgets and in the allocation of resources.
We believe that these non-GAAP financial measures are helpful to investors in providing greater transparency to the information used by management in its operational decision-making. The Company believes that using these non-GAAP financial measures also facilitates comparing our underlying operating performance with other companies in our industry, which use similar non-GAAP financial measures to supplement their GAAP results.
In the future, we expect to continue to incur expenses similar to the non-GAAP adjustments described above, and the 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 material limitations are associated with using 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 in this press release with our GAAP financial results.
Investor Relations Contact:
Matt Glover, Gateway Group: (949) 574-3860
IR@inseego.com
| INSEEGO CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share data) (Unaudited) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenues: | |||||||||||||||
| Mobile solutions | $ | 13,672 | $ | 25,879 | $ | 31,462 | $ | 41,149 | |||||||
| Fixed wireless access solutions | 14,511 | 13,317 | 16,414 | 27,499 | |||||||||||
| Product | 28,183 | 39,196 | 47,876 | 68,648 | |||||||||||
| Services and other | 12,040 | 12,424 | 24,020 | 20,477 | |||||||||||
| Total revenues | 40,223 | 51,620 | 71,896 | 89,125 | |||||||||||
| Cost of revenues: | |||||||||||||||
| Product | 22,365 | 30,507 | 37,761 | 53,220 | |||||||||||
| Services and other | 1,343 | 2,304 | 2,637 | 3,852 | |||||||||||
| Total cost of revenues | 23,708 | 32,811 | 40,398 | 57,072 | |||||||||||
| Gross profit | 16,515 | 18,809 | 31,498 | 32,053 | |||||||||||
| Operating costs and expenses: | |||||||||||||||
| Research and development | 4,820 | 5,173 | 9,355 | 9,856 | |||||||||||
| Sales and marketing | 3,951 | 4,212 | 7,885 | 8,051 | |||||||||||
| General and administrative | 4,703 | 3,918 | 9,193 | 7,873 | |||||||||||
| Depreciation and amortization | 1,761 | 3,652 | 3,825 | 6,944 | |||||||||||
| Impairment of capitalized software | — | — | 384 | 420 | |||||||||||
| Total operating costs and expenses | 15,235 | 16,955 | 30,642 | 33,144 | |||||||||||
| Operating income (loss) | 1,280 | 1,854 | 856 | (1,091 | ) | ||||||||||
| Other (expense) income: | |||||||||||||||
| Interest expense | (933 | ) | (1,776 | ) | (1,959 | ) | (3,955 | ) | |||||||
| Loss on extinguishment of revolving credit facility | — | (788 | ) | — | (788 | ) | |||||||||
| Gain on debt restructurings, net | — | 1,324 | — | 1,324 | |||||||||||
| Other income (expense), net | 182 | (417 | ) | 485 | (792 | ) | |||||||||
| Income (Loss) before income taxes | 529 | 197 | (618 | ) | (5,302 | ) | |||||||||
| Income tax provision | 22 | 118 | 45 | 135 | |||||||||||
| Income (Loss) from continuing operations | 507 | 79 | (663 | ) | (5,437 | ) | |||||||||
| Income (loss) from discontinued operations, net of income tax provision | — | 545 | (400 | ) | 1,606 | ||||||||||
| Net income (loss) | 507 | 624 | (1,063 | ) | (3,831 | ) | |||||||||
| Preferred stock dividends | (883 | ) | (808 | ) | (1,747 | ) | (1,598 | ) | |||||||
| Net income (loss) attributable to common stockholders | $ | (376 | ) | $ | (184 | ) | $ | (2,810 | ) | $ | (5,429 | ) | |||
| Per share data: | |||||||||||||||
| Net earnings (loss) per share | |||||||||||||||
| Basic and diluted | |||||||||||||||
| Continuing operations | $ | (0.03 | ) | $ | (0.06 | ) | $ | (0.16 | ) | $ | (0.59 | ) | |||
| Discontinued operations | $ | — | $ | 0.05 | $ | (0.03 | ) | $ | 0.14 | ||||||
| Basic and diluted earnings (loss) per share* | $ | (0.03 | ) | $ | (0.02 | ) | $ | (0.19 | ) | $ | (0.46 | ) | |||
| Weighted-average shares used in computation of net earnings (loss) per share | |||||||||||||||
| Basic and diluted | 15,023,832 | 11,894,746 | 15,012,918 | 11,887,233 | |||||||||||
(*) Adjusted retroactively for reverse stock split that occurred on January 24, 2024
| INSEEGO CORP. CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) | |||||||
| June 30, 2025 | December 31, 2024 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 13,221 | $ | 39,596 | |||
| Accounts receivable, net | 24,070 | 13,803 | |||||
| Inventories | 15,045 | 13,575 | |||||
| Prepaid expenses and other | 3,847 | 5,926 | |||||
| Total current assets | 56,183 | 72,900 | |||||
| Property, plant and equipment, net | 909 | 1,102 | |||||
| Intangible assets, net | 19,243 | 18,747 | |||||
| Goodwill | 3,949 | 3,949 | |||||
| Operating lease right-of-use assets | 2,328 | 2,855 | |||||
| Other assets | 460 | 446 | |||||
| Total assets | $ | 83,072 | $ | 99,999 | |||
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 22,404 | $ | 18,433 | |||
| Accrued expenses and other current liabilities | 23,838 | 30,133 | |||||
| 2025 Convertible Notes, net | — | 14,905 | |||||
| Total current liabilities | 46,242 | 63,471 | |||||
| Long-term liabilities: | |||||||
| Operating lease liabilities | 1,886 | 2,627 | |||||
| Deferred tax liabilities, net | 180 | 174 | |||||
| 2029 Senior Secured Notes, net | 41,721 | 41,830 | |||||
| Other long-term liabilities | 3,539 | 4,755 | |||||
| Total liabilities | 93,568 | 112,857 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ deficit: | |||||||
| Preferred stock (aggregate liquidation preference of | — | — | |||||
| Common stock | 15 | 15 | |||||
| Additional paid-in capital | 897,591 | 892,534 | |||||
| Accumulated other comprehensive loss | 333 | 218 | |||||
| Accumulated deficit | (908,435 | ) | (905,625 | ) | |||
| Total stockholders’ deficit | (10,496 | ) | (12,858 | ) | |||
| Total liabilities and stockholders’ deficit | $ | 83,072 | $ | 99,999 | |||
| INSEEGO CORP. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) | |||||||
| Six Months Ended June 30, | |||||||
| 2025 | 2024 | ||||||
| Cash flows from operating activities: | |||||||
| Net income (loss) | $ | (1,063 | ) | $ | (3,831 | ) | |
| Adjustments to reconcile net loss to net cash used in (provided by) operating activities: | |||||||
| (Income) Loss from discontinued operations, net of tax | 400 | (1,606 | ) | ||||
| Depreciation and amortization | 3,890 | 7,022 | |||||
| Loss on extinguishment of revolving credit facility | — | 788 | |||||
| Gain on debt restructurings, net | — | (1,324 | ) | ||||
| Provision for expected credit losses | 103 | (371 | ) | ||||
| Impairment of capitalized software | 384 | 420 | |||||
| Provision for excess and obsolete inventory | 1,194 | 53 | |||||
| Share-based compensation expense | 3,255 | 1,521 | |||||
| Amortization of debt discount (premium) and debt issuance costs, net | (65 | ) | 858 | ||||
| Deferred income taxes | 6 | 12 | |||||
| Non-cash operating lease expense | 527 | 629 | |||||
| Changes in assets and liabilities: | |||||||
| Accounts receivable | (10,370 | ) | 3,155 | ||||
| Inventories | (2,664 | ) | 4,486 | ||||
| Prepaid expenses and other assets | 1,355 | 579 | |||||
| Accounts payable | 4,051 | 5,841 | |||||
| Accrued expenses and other liabilities | (7,404 | ) | 14,524 | ||||
| Operating lease liabilities | (654 | ) | (734 | ) | |||
| Operating cash flows from continuing operations | (7,055 | ) | 32,022 | ||||
| Operating cash flows from discontinued operations | (881 | ) | 867 | ||||
| Net cash used in (provided by) operating activities | (7,936 | ) | 32,889 | ||||
| Cash flows from investing activities: | |||||||
| Purchases of property, plant and equipment | (220 | ) | (25 | ) | |||
| Additions to capitalized software development costs and purchases of intangible assets | (4,371 | ) | (2,348 | ) | |||
| Investing cash flows from continuing operations | (4,591 | ) | (2,373 | ) | |||
| Investing cash flows from discontinued operations | 710 | (3 | ) | ||||
| Net cash used in investing activities | (3,881 | ) | (2,376 | ) | |||
| Cash flows from financing activities: | |||||||
| Payments related to repayments of 2025 Convertible Notes | (14,949 | ) | (1,650 | ) | |||
| Proceeds from issuance of short-term loan and warrants, net of issuance costs | — | 16,500 | |||||
| Net repayments on revolving credit facility | — | (4,882 | ) | ||||
| Proceeds from stock option exercises and employee stock purchase plan, net of taxes | 272 | 2 | |||||
| Financing cash flows from continuing operations | (14,677 | ) | 9,970 | ||||
| Financing cash flows from discontinued operations | — | — | |||||
| Net cash used in (provided by) financing activities | (14,677 | ) | 9,970 | ||||
| Effect of exchange rates on cash | 119 | (209 | ) | ||||
| Net decrease (increase) in cash and cash equivalents | (26,375 | ) | 40,274 | ||||
| Cash and cash equivalents, beginning of period | 39,596 | 2,409 | |||||
| Cash and cash equivalents, end of period | $ | 13,221 | $ | 42,683 | |||
| INSEEGO CORP. Supplemental Reconciliation of GAAP Income (Loss) from Continuing Operations to Adjusted EBITDA (In thousands) (Unaudited) | |||||||||||||||||||||||
| Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | ||||||||||||||||||
| Income (Loss) from continuing operations | $ | 507 | $ | (1,170 | ) | $ | (16,475 | ) | $ | 7,543 | $ | 79 | $ | (5,516 | ) | ||||||||
| Income tax provision (benefit) | 22 | 23 | 518 | 36 | 118 | 17 | |||||||||||||||||
| Interest expense, net | 933 | 1,026 | 1,220 | 5,731 | 1,776 | 2,179 | |||||||||||||||||
| Loss on extinguishment of revolving credit facility | — | — | — | — | 788 | — | |||||||||||||||||
| Gain/(loss) on debt restructurings, net | — | — | 16,541 | (12,366 | ) | (1,324 | ) | — | |||||||||||||||
| Other (income) expense, net | (182 | ) | (303 | ) | (14 | ) | 72 | 417 | 375 | ||||||||||||||
| Depreciation and amortization | 1,792 | 2,098 | 2,308 | 3,193 | 3,691 | 3,337 | |||||||||||||||||
| Share-based compensation expense | 1,654 | 1,601 | 1,109 | 1,193 | 834 | 687 | |||||||||||||||||
| Debt restructuring costs | — | — | 201 | 669 | 452 | — | |||||||||||||||||
| Impairment of operating lease right-of-use assets | — | — | — | 139 | — | — | |||||||||||||||||
| Impairment of capitalized software | — | 384 | — | 507 | — | 420 | |||||||||||||||||
| Adjusted EBITDA from continuing operations | $ | 4,726 | $ | 3,659 | $ | 5,408 | $ | 6,717 | $ | 6,831 | $ | 1,499 | |||||||||||
See “Non-GAAP Financial Measures” for information regarding our use of Non-GAAP financial measures.
FAQ
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