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Inseego Corp (INSG) drives innovation in 5G wireless solutions and industrial IoT connectivity for enterprises worldwide. This news hub provides investors and industry professionals with timely updates on strategic developments, financial performance, and technological advancements shaping the future of secure wireless networks.
Access official press releases and curated analysis covering key areas including 5G infrastructure deployments, enterprise cloud solutions, and IoT product launches. Our repository tracks critical updates such as earnings announcements, partnership agreements, and regulatory filings while maintaining strict compliance with financial disclosure standards.
Bookmark this page to monitor Inseego's progress in developing mission-critical connectivity solutions for government agencies, telecom providers, and industrial enterprises. Discover how their hardware-software ecosystem addresses evolving demands for high-speed data transmission and intelligent network management across distributed operations.
Inseego Corp. (Nasdaq: INSG), a leader in 5G mobile and fixed wireless solutions, has announced it will release its Q2 2024 financial results on August 7, 2024, after market close. The company will host a webcast and conference call at 5:00 p.m. ET (2:00 p.m. PT) on the same day to discuss results and business outlook.
Investors can access the live audio webcast from the company's website. Participants can pre-register for the call or dial in directly. The webcast will be archived for two weeks, and an audio replay will be available until August 22, 2024.
Inseego announced a significant debt reduction and restructuring initiative involving its 3.25% convertible notes due 2025, amounting to $125 million of face value or 80% of outstanding notes. This initiative includes three key transactions: repurchasing $45.9 million of notes from Highbridge Capital Management for $32.1 million in cash; securing a $19.5 million loan to finance this repurchase; and exchanging $80 million of notes held by North Sound Partners and Golden Harbor for long-term debt and equity, all at a 30% discount. This move reduces total debt to $84.3 million and strengthens Inseego's capital structure.
Inseego has launched the MiFi X PRO 5G mobile hotspot, the industry’s first 5G mobile hotspot certified with FIPS 140-2 cryptographic software. This certification meets the stringent standards set by the National Institute of Standards and Technology (NIST), ensuring unparalleled security for government agencies and businesses.
The MiFi X PRO 5G is equipped with the Snapdragon X65/X62 5G Modem-RF System, enabling extensive 5G NR carrier aggregation for broader coverage and faster speeds. This product targets critical sectors like government, finance, healthcare, and infrastructure that require secure data transmission.
Existing MiFi X PRO 5G devices will receive the FIPS 140-2 certification via an over-the-air update. This launch reinforces Inseego’s commitment to providing robust security solutions, especially for U.S. government customers.
Inseego Corp. (Nasdaq: INSG) reported Q1 2024 revenue of $45.0 million with positive Adjusted EBITDA of $3.8 million. The company saw a GAAP net loss of $4.5 million and had unrestricted cash of $12.3 million. Inseego had a strong quarter with good demand across product lines, exceeding revenue and Adjusted EBITDA guidance. The company also paid off its ABL facility, resulting in improved operations and free cash flow. Q2 2024 guidance predicts total revenue of $52.0 million to $56.0 million and Adjusted EBITDA of $6.5 million to $7.5 million.
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