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Jun 30, 2023
Inseego Q2 2023 Earnings Report
Reported strong Q2 results driven by FWA revenue growth and improved operational efficiency.
Key Takeaways
Inseego reported Q2 2023 results with net revenue of $53.6 million, a GAAP operating loss of $3.3 million, and a GAAP net loss of $4.9 million. The company achieved positive adjusted EBITDA of $4.5 million and positive operating cash flow. FWA and cloud solutions comprised 65% of revenue, up 42% year-over-year.
Fixed Wireless Access (FWA) revenue grew more than 50% sequentially.
Achieved positive operating cash flow with adjusted EBITDA of $4.5 million.
FWA and cloud solutions business comprised 65% of revenue, up 42% year-over-year.
Successfully launched 2nd generation 5G FWA product.
Forward Guidance
Inseego is committed to achieving profitability and positive cash generation, with an operating cost structure aligned with its opportunity in 5G Enterprise markets.
Positive Outlook
- Focus on driving profitability as the company grows its position in the 5G Enterprise markets.
- Maintaining strong financial discipline.
- Core markets are expected to continue to grow and develop.
- Well positioned for the future on the strength of market leading 5G and software portfolio.
- Cost structure that will scale well with revenue growth.
Challenges Ahead
- Future demand for wireless broadband access to data and asset management software and services.
- Dependence on third-party manufacturers and key component suppliers worldwide.
- Impact of geopolitical instability and supply chain challenges on ability to source components and manufacture products.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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