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Mar 31, 2022
Inseego Q1 2022 Earnings Report
Reported solid results with strong double-digit revenue growth, driven by demand for 5G fixed and mobile solutions.
Key Takeaways
Inseego Corp. reported first quarter net revenue of $61.4 million, a GAAP operating loss of $21.8 million, and a GAAP net loss of $25.9 million, or $0.24 per share. The company's 5G revenue increased by 142% year-over-year, and 5G and software solutions accounted for 67% of total revenue.
5G revenue increased 142% year-over-year.
5G and software solutions represent 67% of total revenue, up 68% year-over-year.
Large enterprise customers are starting deployments of 5G enterprise solutions.
Gross margin improved from the previous quarter due to a higher mix of 5G products and supply chain management.
Forward Guidance
Inseego is making very good progress with large enterprise customers in multiple verticals, and is confident in achieving their objective to be the leading 5G solutions provider for the enterprise market.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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