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Mar 31, 2023
Inseego Q1 2023 Earnings Report
Achieved positive operating cash flow and gross margin improved due to FWA and cloud business strength.
Key Takeaways
Inseego Corp. reported a positive first quarter, achieving positive operating cash flow and an adjusted EBITDA of $4.1 million. The company's FWA and cloud solutions business comprised 53% of revenue, marking a 35% year-over-year increase. Gross margin improved to 36% due to the strength of FWA and cloud business.
Achieved positive operating cash flow with adjusted EBITDA of $4.1 million.
FWA and cloud solutions business comprised 53% of revenue, up 35% year-over-year.
Gross margin improved to 36% on the strength of FWA and cloud business.
Enterprise SaaS solutions revenue reached $7.2 million, up 4.2% year-over-year.
Forward Guidance
Inseego is well-positioned to capitalize on the opportunity of 5G FWA with its market leading portfolio and is making progress in transforming into an Enterprise focused higher margin business.
Positive Outlook
- Continued expansion of 5G FWA customer pipeline
- 100% of enterprise FWA deployments included cloud software in Q1
- Strategic cost reduction efforts
- Continued strength of 5G fixed wireless target market
- Well-positioned to capitalize on the opportunity of 5G FWA
Historical Earnings Impact
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Avg. Return Before/After Earnings
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