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Sep 30, 2022
Inseego Q3 2022 Earnings Report
Reported strong revenue results driven by successful launch of next-generation 5G mobile hotspot and continued ramp in 5G FWA enterprise deployments.
Key Takeaways
Inseego Corp. reported third quarter net revenue of $69.2 million, a GAAP operating loss of $11.9 million, and a GAAP net loss of $15.7 million, or $0.15 per share. The company's enterprise FWA business now represents 13% of revenue, and they signed up hundreds of new customers for 5G FWA solutions.
5G revenue was up 22% year-over-year.
Software solutions represented 21% of total revenue in the quarter.
Sold 5G products to over 600 enterprises by quarter-end.
Enterprise base now exceeds 1,000 customers.
Forward Guidance
Company expects gross margin to improve in Q4 and with it their quarterly cash usage will trend lower, allowing them to achieve their goal of cash flow breakeven during Q1 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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