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Mar 31, 2020
Inseego Q1 2020 Earnings Report
Reported strong first quarter results driven by unprecedented surge in demand for MiFi® 4G and 5G hotspots.
Key Takeaways
Inseego Corp. reported first quarter revenue of $56.8 million, a 17.1% year-over-year growth. The company's GAAP operating loss was $7.7 million, with a GAAP net loss of $18.2 million, or $0.20 per share. The company had $30.5 million in cash and cash equivalents at quarter end.
Experienced an unprecedented surge in demand for 4G and 5G MiFi mobile hotspots due to COVID-19.
Reiterated Q2 revenue outlook of $75 to $85 million.
Expects remote work, online learning, and telehealth trends to drive significantly higher levels of demand in the future.
Plans to begin shipping second-generation 5G mobile and fixed wireless access solutions in the second half of 2020.
Forward Guidance
Inseego is reiterating its Q2 revenue outlook of $75 to $85 million and seeing growing evidence that remote work, online learning and telehealth trends will continue to drive significantly higher levels of demand in the future
Positive Outlook
- Q2 revenue outlook of $75 to $85 million.
- Remote work trends will continue to drive higher demand.
- Online learning trends will continue to drive higher demand.
- Telehealth trends will continue to drive higher demand.
- Shipping second-generation 5G mobile and fixed wireless access solutions in the second half of 2020
Historical Earnings Impact
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Avg. Return Before/After Earnings
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