Welcome to our dedicated page for Inseego news (Ticker: INSG), a resource for investors and traders seeking the latest updates and insights on Inseego stock.
Inseego Corp. (Nasdaq: INSG) is frequently in the news for its work in 5G mobile broadband, 5G fixed wireless access (FWA), and cloud-managed enterprise connectivity. Company announcements highlight new product launches, strategic partnerships, financial results, and capital structure updates, providing investors and industry observers with insight into how Inseego is executing its strategy in wireless broadband and SaaS-based network management.
Recent press releases describe Inseego as a leading provider of cloud-managed, wireless broadband connectivity solutions with a comprehensive hardware portfolio and a SaaS platform for device, network, and subscriber management. News items often cover the introduction of new 5G FWA routers such as the Wavemaker FX4200 and FX3110 series, updates to the Inseego Connect cloud management suite, and collaborations with partners like Kajeet and TELCLOUD to deliver business continuity and POTS line replacement solutions.
Investors following INSG news will also see quarterly earnings announcements, guidance updates, and conference call details, as reflected in the company’s releases about third quarter results and upcoming financial reports. These updates are typically accompanied by commentary on revenue trends, adjusted EBITDA, and the company’s progress on strategic growth initiatives.
In addition, Inseego issues news about board and leadership changes, such as the appointment of experienced executives with backgrounds in wireless networking, SaaS, and AI, and the promotion of internal technology leaders. The company also publicizes milestones like its multi-decade listing on Nasdaq and participation in investor conferences.
This news page aggregates those releases and related coverage, giving readers a single place to review Inseego’s product developments, partnerships, financial disclosures, and governance updates connected to the INSG stock.
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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