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Mar 31, 2021
Inseego Q1 2021 Earnings Report
Reported first quarter financial results
Key Takeaways
Inseego reported Q1 net revenue of $57.6 million, a GAAP operating loss of $16.2 million, and a GAAP net loss of $17.0 million. The company's transformation into a pure-play 5G solution company continues, with significant year-over-year growth in 5G and SaaS revenue and improving gross margins.
Q1 revenue was $57.6 million, up 1.3% year-over-year.
Cash balance was $59.6 million, including cash classified as held-for-sale, with zero bank debt.
Non-GAAP Q1 gross margin was 35.7%, up 4.2% year-over-year.
Combined 5G and SaaS revenue now represents 44% of overall revenue, double the level of Q1 2020.
Forward Guidance
Inseego is on track to divest Ctrack South Africa operations by the end of the second quarter 2021, subject to regulatory approval and other closing conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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