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Inseego (INSG)

Inseego Corp. is an industry leader in smart device-to-cloud solutions that extend the 5G network edge, enabling broader 5G coverage, multi-gigabit data speeds, low latency and strong security to deliver highly reliable internet access. Its innovative mobile broadband, fixed wireless access (FWA) solutions, and software platform incorporate the most advanced technologies (including 5G, 4G LTE, Wi-Fi 6 and others) into a wide range of products that provide robust connectivity indoors, outdoors and in the harshest industrial environments. Designed and developed in the USA, Inseego products and SaaS solutions build on the company's patented technologies to provide the highest quality wireless connectivity for service providers, enterprises, and government entities worldwide.

Company profile

Ticker
INSG
Exchange
Website
CEO
Dan Mondor
Employees
Incorporated
Location
Fiscal year end
Former names
NOVATEL WIRELESS INC
SEC CIK
Subsidiaries
Inseego Wireless, Inc. • Inseego (UK) Ltd • Novatel Wireless Australia Pty Ltd • Novatel Wireless Asia Ltd • Novatel Wireless (Shanghai) Co. Ltd. • R.E.R. Enterprises, Inc. • Inseego North America, LLC • Ctrack Holdings (Pty) Ltd • Dedical (Pty) Ltd • DigiCore Properties (Pty) Ltd ...
IRS number
860824673

INSG stock data

Analyst ratings and price targets

Last 3 months
Stifel
Maintains
Hold
$2.50
13 May 22

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 May 22
12 Aug 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 45.18M 45.18M 45.18M 45.18M 45.18M 45.18M
Cash burn (monthly) 1.54M 1.2M 8.52M 4.94M 212.67K 2.24M
Cash used (since last report) 6.82M 5.29M 37.61M 21.83M 939.32K 9.87M
Cash remaining 38.36M 39.89M 7.57M 23.35M 44.24M 35.31M
Runway (months of cash) 24.9 33.3 0.9 4.7 208.0 15.8

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
3 Aug 22 Tavistock Financial Common Stock Grant Acquire A No No 0 49,801 0 141,386
3 Aug 22 Harland Christopher Common Stock Grant Acquire A No No 0 49,801 0 106,303
3 Aug 22 Stephanie Lynne Bowers Common Stock Grant Acquire A No No 0 49,801 0 78,395
3 Aug 22 Tuder Jeffrey Common Stock Grant Acquire A No No 0 49,801 0 200,849
3 Aug 22 Christopher H. Lytle Common Stock Grant Acquire A No No 0 39,841 0 374,078
3 Aug 22 Christopher H. Lytle Common Stock Grant Acquire A No No 0 49,801 0 334,238
13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 1 EXIT
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change

Financial report summary

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Risks
  • Risks Related to Our Business
  • Risks Related to Corporate Development Activities
  • Risks Related to Competition
  • Risks Related to Our Customers and Demand for Our Solutions
  • Risks Related to Developing, Manufacturing and Delivering Our Solutions
  • Risks Related to International Operations
  • Risks Related to Regulations, Taxation and Accounting Matters
  • Risks Related to Owning Our Securities
  • Our quarterly operating results have fluctuated in the past and may fluctuate in the future, which could cause declines or volatility in the price of our common stock.
  • We have an accumulated deficit and may not be able to achieve or sustain profitability, which may negatively impact our ability to achieve our business objectives.
  • The 5G market may take longer to materialize than we expect or, if it does materialize rapidly, we may not be able to meet the development schedule and other customer demands.
  • Our plan to position ourselves as a leading provider of industrial IoT products and services to our customer base could subject us to increased costs and related risks and may not achieve the intended results.
  • If we fail to develop and timely introduce new products and services or enter new markets for our products and services successfully, we may not achieve our revenue targets, or we may lose key customers or sales and our business could be harmed.
  • An assertion by a third party that we are infringing its intellectual property could subject us to costly and time-consuming litigation or expensive licenses and our business could be harmed.
  • If we are unable to protect our intellectual property and proprietary rights, our competitive position and our business could be harmed.
  • We may not be able to maintain and expand our business if we are not able to hire, retain and manage additional qualified personnel.
  • The mobile hotspot business is subject to a number of challenges that are difficult to overcome.
  • Our future capital needs are uncertain, and we may need to raise additional funds in the future. We may not be able to raise such additional funds on acceptable terms or at all.
  • Our debt service requirements are significant, and we may not have sufficient cash flow from our business to pay our substantial debt.
  • Uncertainties relating to recent changes in our management team may adversely affect our operations.
  • If we do not properly manage the development of our business, we may experience significant strains on our management and operations and disruptions in our business.
  • We may, as part of our growth strategy, acquire companies and businesses, and/or divest assets or businesses. The completion of acquisition or divestiture transactions could have an adverse effect on our financial condition.
  • Following acquisitions and/or divestitures, our reorganized business may not perform as we or the market expects, which could have an adverse effect on the price of our common stock.
  • If our goodwill and acquired intangible assets become impaired, we may be required to record a significant charge to earnings.
  • The market for the products and services that we offer is rapidly evolving and highly competitive. We may be unable to compete effectively.
  • The 5G fixed wireless access gateway business is subject to a number of challenges that will be difficult to overcome.
  • The market for asset management and fleet management solutions and the markets for telemetry and tracking solutions are all highly fragmented and competitive, with low barriers to entry. If we do not compete effectively, our operating results may be harmed.
  • Industry consolidation may result in increased competition, which could result in a loss of customers or a reduction in revenue.
  • If we fail to develop and maintain strategic relationships, we may not be able to penetrate new markets.
  • We depend upon Verizon Wireless and T-Mobile for a substantial portion of our revenues, and our business would be negatively affected by an adverse change in our dealings with either of these customers.
  • We may not be able to retain and increase sales to our existing customers, which could negatively impact our financial results.
  • Loss of, or a significant reduction in business from, one or more enterprise or government customers could adversely affect our revenue and profitability.
  • Adverse economic conditions or reduced spending on information technology solutions may adversely impact our revenue and profitability.
  • The marketability of our products may suffer if wireless telecommunications operators do not deliver acceptable wireless services.
  • Changes in practices of insurance companies in the markets in which we provide our solutions could materially and adversely affect demand for products and services.
  • Reduction in regulation in certain markets may adversely impact demand for certain of our solutions by reducing the necessity for, or desirability of, our solutions.
  • We currently rely on third parties to manufacture and warehouse many of our products, which exposes us to a number of risks and uncertainties outside our control.
  • We depend on sole source suppliers for some products used in our services. The availability and sale of those services would be harmed if any of these suppliers is not able to meet our demand and alternative suitable products are not available on acceptable terms, or at all.
  • The effects of COVID-19 and other potential future public health crises, epidemics, pandemics or similar events on our business, operating results and cash flows are uncertain.
  • If disruptions in our transportation network occur or our shipping costs substantially increase, we may be unable to sell or timely deliver our products, and our operating expenses could increase.
  • We may be unable to adequately control the costs or maintain adequate supply of components and raw materials associated with our operations.
  • Product liability, product replacement or recall costs could adversely affect our business and financial performance.
  • We rely on third-party software and other intellectual property to develop and provide our solutions and significant increases in licensing costs or defects in third-party software could harm our business.
  • Our solutions integrate with third-party technologies and if our solutions become incompatible with these technologies, our solutions would lose functionality and our customer acquisition and retention could be adversely affected.
  • Our software may contain undetected errors, defects or other software problems, and if we fail to correct any defect or other software problems, we could lose customers or incur significant costs, which could result in damage to our reputation or harm to our operating results.
  • Our solutions rely on cellular and GPS networks and any disruption, failure or increase in costs could impede our profitability and harm our financial results.
  • Any significant disruption in service on our websites or in our computer systems could damage our reputation and result in a loss of customers, which would harm our business and operating results.
  • We provide minimum service level commitments to certain of our customers, and our failure to meet them could require us to issue credits for future subscriptions or pay penalties, which could harm our results of operations.
  • Failure to maintain the security of our information and technology networks, including information relating to our customers and employees, could adversely affect us. Furthermore, if security breaches in connection with the delivery of our services allow unauthorized third parties to obtain control or access of our asset management, fleet management and telemetry solutions, our reputation, business, results of operations and financial condition could be harmed.
  • Due to the global nature of our operations, we are subject to political and economic risks of doing business internationally.
  • Weakness or deterioration in global economic conditions or jurisdictions where we have significant foreign operations could have a material adverse effect on our results of operations and financial condition.
  • Weakness or deterioration in global political conditions where we have significant business interests could have a material adverse effect on our business, results of operations and financial condition.
  • Fluctuations in foreign currency exchange rates could adversely affect our results of operations.
  • Unionization efforts in certain countries in which we operate could materially increase our costs or limit our flexibility.
  • Our substantial international operations may increase our exposure to potential liability under anti-corruption, trade protection, tax and other laws and regulations.
  • A governmental challenge to our transfer pricing policies or practices could impose significant costs on us.
  • Evolving regulations and changes in applicable laws relating to data privacy may increase our expenditures related to compliance efforts or otherwise limit the solutions we can offer, which may harm our business and adversely affect our financial condition.
  • Enhanced United States fiscal, tax and trade restrictions and executive and legislative actions could adversely affect our business, financial condition, and results of operations.
  • Future issuances of our common stock to holders of warrants may materially and adversely affect the price of our common stock and cause dilution to our existing stockholders.
  • Ownership of our common stock is concentrated, and as a result, certain stockholders may exercise significant influence over us.
  • Our outstanding Series E Preferred Stock or future equity offerings could adversely affect the holders of our common stock in some circumstances.
  • If financial or industry analysts do not publish research or reports about our business, or if they issue negative or misleading evaluations of our stock, our stock price and trading volume could decline.
  • If we fail to maintain an effective system of internal controls over financial reporting, we may not be able to report our financial results timely and accurately, which could adversely affect investor confidence in us, and in turn, our results of operations and our stock price.
  • If the accounting estimates we make, and the assumptions on which we rely, in preparing our financial statements prove inaccurate, our actual results may be adversely affected.
  • Any changes to the accounting systems or new accounting system implementations may be ineffective or cause delays in our ability to provide timely financial results.
  • Any changes to existing accounting pronouncements or taxation rules or practices may cause adverse fluctuations in our reported results of operations or affect how we conduct our business.
Management Discussion
  • Item 2.     Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). You should not place undue reliance on these statements. These forward-looking statements include statements that reflect the views of our senior management with respect to our current expectations, assumptions, estimates and projections about Inseego and our industry. These forward-looking statements speak only as of the date of this report. We disclaim any undertaking to publicly update or revise any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Statements that include the words “may,” “could,” “should,” “would,” “estimate,” “anticipate,” “believe,” “expect,” “preliminary,” “intend,” “plan,” “project,” “outlook,” “will” and similar words and phrases identify forward-looking statements. Forward-looking statements address matters that involve risks and uncertainties that could cause actual results to differ materially from those anticipated in these forward-looking statements as of the date of this report. We believe that these factors include those related to:
  • •our ability to hire, retain and manage additional qualified personnel to maintain and expand our business.

Content analysis

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Positive
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