Inseego Reports Fourth Quarter and Full Year 2020 Financial Results

Next-generation 5G products account for over 30% of Q4 hardware sales

Inseego mobile solutions now available through all major network operators in the U.S.

Continued momentum with new 5G launches in North America, EMEA, and APAC in 2020

SAN DIEGO–(BUSINESS WIRE)–$INSG #5G–Inseego Corp. (Nasdaq: INSG) (the “Company”), a leader in 5G and intelligent IoT device-to-cloud solutions, today reported its results for the fourth quarter and full year ended December 31, 2020. The Company reported fourth quarter net revenue of $86.1 million, GAAP operating loss of $8.6 million, GAAP net loss of $12.7 million, GAAP net loss of $0.14 per share, adjusted EBITDA of $7.0 million, and non-GAAP net loss of $0.07 per share. Cash and cash equivalents at year end was $40.0 million. On a full year basis, 2020 net revenue was $313.8 million, a 43.0% increase year-over-year.

“2020 was an epic year for Inseego in every respect, as we launched our groundbreaking 5G products with mobile operators on four continents, shipped our first fixed wireless access products, unveiled a suite of powerful SaaS cloud solutions and posted record revenues,” said Inseego Chairman and CEO Dan Mondor. “In 2021, we’re focused on bringing new 5G solutions to carrier customers globally, expanding into the enterprise market and driving growth of our cloud SaaS business.”

Corporate Highlights

  • 2020 full year net revenue of $313.8 million, up 43.0% year-over-year, and Q4 2020 net revenue of $86.1 million, up 64.5% year-over-year
  • Year-end cash balance of $40.0 million in the quarter with zero bank debt

IoT & Mobile Solutions

  • 2020 full year net revenue of $261.2 million, Q4 2020 net revenue of $72.1 million
  • Recognized approximately $37.5 million of 5G revenue in 2020
  • Launched new 5G solutions in multiple regions: North America with T-Mobile, Verizon, and UScellular; Europe with Swisscom; the Middle East with Vodafone Qatar; and Japan with Sumitomo subsidiary, Grape One
  • Launched the 5G MiFi® M2000 at T-Mobile, the un-carrier’s first and only 5G mobile hotspot, along with Inseego Manage™ device management capability to offer to their 100 million-plus consumer and enterprise customers
  • Launched Inseego Manage suite of integrated SaaS applications for service provider and enterprise customers
  • Increased Inseego Manage cloud subscriptions to over 3.5 million subscriptions

Enterprise SaaS Solutions

  • 2020 full year net revenue of $52.6 million, Q4 2020 net revenue of $14.0 million
  • Encountered COVID-related installation restrictions and foreign exchange rate headwinds
  • Recently announced an agreement for the divestiture of Inseego’s Ctrack business operations in South Africa

“In addition to achieving 43.0% year-over-year top-line growth, we continued to grow our 5G business as well as the SaaS business,” said Inseego CFO Craig Foster. “We’re entering 2021 with a strong balance sheet that enables us to continue developing industry-leading products for customers worldwide.”

Conference Call Information

Inseego will host a conference call and live webcast for analysts and investors today at 5:00 p.m. ET. A Q&A session with analysts will be held live directly after the prepared remarks. To access the conference call:

An audio replay of the conference call will be available beginning one hour after the call, through March 15, 2021. To hear the replay, parties in the United States may call 1-877-344-7529 and enter access code 10151474 followed by the # key. International parties may call 1-412-317-0088. In addition, the Inseego Corp. press release will be accessible from the Company’s website before the conference call begins.

About Inseego Corp.

Inseego Corp. (Nasdaq: INSG) 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. Our 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. www.inseego.com #Putting5GtoWork

Cautionary Note Regarding Forward-Looking Statements

Some of the information presented in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as “may,” “estimate,” “anticipate,” “believe,” “expect,” “intend,” “plan,” “project,” “will” and similar words and phrases indicating future results. The information presented in this news release related to our future business outlook, and the future demand for our products, as well as other statements that are not purely statements of historical fact, are forward-looking in nature. These forward-looking statements are made on the basis of management’s current expectations, assumptions, estimates and projections and are subject to significant risks and uncertainties that could cause actual results to differ materially from those anticipated in such forward-looking statements. We therefore cannot guarantee future results, performance or achievements. Actual results could differ materially from our expectations.

Factors that could cause actual results to differ materially from the Company’s expectations include: (1) the future demand for wireless broadband access to data and asset management software and services; (2) the growth of wireless wide-area networking and asset management software and services; (3) customer and end-user acceptance of the Company’s current product and service offerings and market demand for the Company’s anticipated new product and service offerings; (4) increased competition and pricing pressure from participants in the markets in which the Company is engaged; (5) dependence on third-party manufacturers and key component suppliers worldwide; (6) the impact that new or adjusted tariffs may have on the cost of components or our products, and our ability to sell products internationally; (7) the impact of fluctuations of foreign currency exchange rates; (8) the impact of geopolitical instability on our ability to source components and manufacture our products; (9) unexpected liabilities or expenses; (10) the Company’s ability to introduce new products and services in a timely manner, including the ability to develop and launch 5G products at the speed and functionality required by our customers; (11) litigation, regulatory and IP developments related to our products or components of our products; (12) dependence on a small number of customers for a significant portion of the Company’s revenues; (13) the Company’s ability to raise additional financing when the Company requires capital for operations or to satisfy corporate obligations; (14) the Company’s plans and expectations relating to acquisitions, divestitures (including the expected divestiture of Inseego’s Ctrack business operations in South Africa), strategic relationships, international expansion, software and hardware developments, personnel matters and cost containment initiatives, including restructuring activities and the timing of their implementation; and (15) the potential impact of COVID-19 on the business.

These factors, as well as other factors set forth as risk factors or otherwise described in the reports filed by the Company with the SEC (available at www.sec.gov), could cause actual results to differ materially from those expressed in the Company’s forward-looking statements. The Company assumes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future, except as otherwise required pursuant to applicable law and our on-going reporting obligations under the Securities Exchange Act of 1934, as amended.

Non-GAAP Financial Measures

Inseego Corp. has provided financial information in this news release that has not been prepared in accordance with GAAP. Adjusted EBITDA, non-GAAP net loss, non-GAAP net loss per share and non-GAAP operating costs and expenses exclude share-based compensation expense, amortization of intangible assets purchased through acquisitions, amortization of discount and issuance costs related to the Company’s convertible senior notes and term loan, loss on debt conversion and extinguishment relating to convertible senior notes, fair value adjustments on derivative instruments, and non-recurring legal and other expenses. Adjusted EBITDA also excludes interest, taxes, depreciation and amortization (unrelated to acquisitions, the convertible senior notes and the term loans) and foreign currency transaction gains and losses.

Adjusted EBITDA, non-GAAP net loss, non-GAAP net loss per share and non-GAAP operating costs and expenses are supplemental measures of our performance that are not required by, or presented in accordance with, GAAP. These non-GAAP financial measures have limitations as an analytical tool and are not intended to be used in isolation or as a substitute for operating expenses, net loss, net loss per share or any other performance measure determined in accordance with GAAP. We present these non-GAAP financial measures because we consider each to be an important supplemental measure of our performance.

Management uses these non-GAAP financial measures to make operational decisions, evaluate the Company’s performance, prepare forecasts and determine compensation. Further, management believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing the Company’s performance when planning, forecasting and analyzing future periods. Share-based compensation expenses are expected to vary depending on the number of new incentive award grants issued to both current and new employees, the number of such grants forfeited by former employees, and changes in the Company’s stock price, stock market volatility, expected option term and risk-free interest rates, all of which are difficult to estimate. In calculating non-GAAP financial measures, management excludes certain non-cash and one-time items in order to facilitate comparability of the Company’s operating performance on a period-to-period basis because such expenses are not, in management’s view, related to the Company’s ongoing operating performance. Management uses this view of the Company’s operating performance for purposes of comparison with its business plan and individual operating budgets and in the allocation of resources.

The Company further believes that these non-GAAP financial measures are useful to investors in providing greater transparency to the information used by management in its operational decision-making. The Company believes that the use of these non-GAAP financial measures also facilitates a comparison of our underlying operating performance with that of other companies in our industry, which use similar non-GAAP financial measures to supplement their GAAP results.

In the future, the Company expects to continue to incur expenses similar to the non-GAAP adjustments described above, and exclusion of these items in the presentation of our non-GAAP financial measures should not be construed as an inference that these costs are unusual, infrequent or non-recurring. Investors and potential investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. The limitations of relying on non-GAAP financial measures include, but are not limited to, the fact that other companies, including other companies in our industry, may calculate non-GAAP financial measures differently than we do, limiting their usefulness as a comparative tool.

Investors and potential investors are encouraged to review the reconciliation of our non-GAAP financial measures contained within this news release with our GAAP financial results.

INSEEGO CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share data)

(Unaudited)

 

 

Three Months Ended

December 31,

 

Year Ended

December 31,

 

2020

 

2019

 

2020

 

2019

Net revenues:

 

 

 

 

 

 

 

IoT & Mobile Solutions

$

72,098

 

 

$

37,325

 

 

$

261,169

 

 

$

160,873

 

Enterprise SaaS Solutions

13,965

 

 

15,008

 

 

52,663

 

 

58,623

 

Total net revenues

86,063

 

 

52,333

 

 

313,832

 

 

219,496

 

Cost of net revenues:

 

 

 

 

 

 

 

IoT & Mobile Solutions

54,007

 

 

31,373

 

 

202,421

 

 

132,980

 

Enterprise SaaS Solutions

5,610

 

 

5,929

 

 

20,568

 

 

22,545

 

Total cost of net revenues

59,617

 

 

37,302

 

 

222,989

 

 

155,525

 

Gross profit

26,446

 

 

15,031

 

 

90,843

 

 

63,971

 

Operating costs and expenses:

 

 

 

 

 

 

 

Research and development

15,505

 

 

8,525

 

 

44,953

 

 

23,853

 

Sales and marketing

9,901

 

 

8,145

 

 

35,750

 

 

28,914

 

General and administrative

7,432

 

 

6,241

 

 

30,689

 

 

27,327

 

Amortization of purchased intangible assets

817

 

 

846

 

 

3,175

 

 

3,421

 

Impairment of capitalized software

1,410

 

 

 

 

1,410

 

 

 

Total operating costs and expenses

35,065

 

 

23,757

 

 

115,977

 

 

83,515

 

Operating loss

(8,619

)

 

(8,726

)

 

(25,134

)

 

(19,544

)

Other income (expense):

 

 

 

 

 

 

 

Loss on debt conversion and extinguishment, net

 

 

 

 

(76,354

)

 

 

Interest expense, net

(1,745

)

 

(5,045

)

 

(9,942

)

 

(20,381

)

Other income (expense), net

(1,826

)

 

417

 

 

992

 

 

351

 

Loss before income taxes

(12,190

)

 

(13,354

)

 

(110,438

)

 

(39,574

)

Income tax provision (benefit)

555

 

 

(257

)

 

748

 

 

536

 

Net loss

(12,745

)

 

(13,097

)

 

(111,186

)

 

(40,110

)

Less: Net loss (income) attributable to noncontrolling interests

 

 

42

 

 

(29

)

 

(15

)

Net loss attributable to Inseego Corp.

(12,745

)

 

(13,055

)

 

(111,215

)

 

(40,125

)

Series E preferred stock dividends

(848

)

 

(230

)

 

(2,904

)

 

(361

)

Net loss attributable to common shareholders

$

(13,593

)

 

$

(13,285

)

 

$

(114,119

)

 

$

(40,486

)

Per share data:

 

 

 

 

 

 

 

Net loss per common share:

 

 

 

 

 

 

 

Basic and diluted

$

(0.14

)

 

$

(0.17

)

 

$

(1.19

)

 

$

(0.52

)

Weighted-average shares used in computation of net loss per common share:

 

 

 

 

 

 

 

Basic and diluted

99,014,857

 

 

80,447,679

 

 

96,111,547

 

 

78,322,496

 

INSEEGO CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

 

 

December 31,

2020

 

December 31,

2019

 

(Unaudited)

 

 

ASSETS

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

40,015

 

 

$

12,074

 

Accounts receivable, net

29,940

 

 

19,656

 

Inventories, net

33,952

 

 

25,290

 

Prepaid expenses and other

10,201

 

 

7,117

 

Total current assets

114,108

 

 

64,137

 

Property, plant and equipment, net

13,699

 

 

10,756

 

Rental assets, net

6,109

 

 

5,385

 

Intangible assets, net

51,487

 

 

44,392

 

Goodwill

32,511

 

 

33,659

 

Right-of-use assets, net

9,092

 

 

2,657

 

Other assets

388

 

 

387

 

Total assets

$

227,394

 

 

$

161,373

 

LIABILITIES AND STOCKHOLDERS’ DEFICIT

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

52,339

 

 

$

26,482

 

Accrued expenses and other current liabilities

23,373

 

 

18,048

 

DigiCore bank facilities

 

 

 

Total current liabilities

75,712

 

 

44,530

 

Long-term liabilities:

 

 

 

2025 Notes, net

165,147

 

 

 

2022 Notes, net

 

 

101,334

 

Term loan, net

 

 

46,538

 

Deferred tax liabilities, net

4,505

 

 

3,949

 

Other long-term liabilities

9,929

 

 

2,380

 

Total liabilities

255,293

 

 

198,731

 

Stockholders’ deficit:

 

 

 

Preferred stock

 

 

 

Common stock

99

 

 

82

 

Additional paid-in capital

711,487

 

 

584,862

 

Accumulated other comprehensive loss

(6,972

)

 

(3,879

)

Accumulated deficit

(732,422

)

 

(618,303

)

Total stockholders’ deficit attributable to Inseego Corp.

(27,808

)

 

(37,238

)

Noncontrolling interests

(91

)

 

(120

)

Total stockholders’ deficit

(27,899

)

 

(37,358

)

Total liabilities and stockholders’ deficit

$

227,394

 

 

$

161,373

 

INSEEGO CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

 

Three Months Ended

December 31,

 

Year Ended

December 31,

 

2020

 

2019

 

2020

 

2019

Cash flows from operating activities:

 

 

 

 

 

 

 

Net loss

$

(12,745

)

 

$

(13,097

)

 

$

(111,186

)

 

$

(40,110

)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

11,998

 

 

5,656

 

 

27,946

 

 

18,426

 

Provision for bad debts, net of recoveries

272

 

 

24

 

 

512

 

 

715

 

Impairment of capitalized software

1,410

 

 

 

 

1,410

 

 

 

Provision for excess and obsolete inventory

108

 

 

591

 

 

538

 

 

980

 

Share-based compensation expense

2,231

 

 

1,347

 

 

10,419

 

 

7,302

 

Amortization of debt discount and debt issuance costs

384

 

 

2,443

 

 

4,016

 

 

9,772

 

Fair value adjustment on derivative instrument

1,969

 

 

 

 

597

 

 

 

Loss on debt conversion and extinguishment, net

 

 

 

 

76,354

 

 

 

Deferred income taxes

549

 

 

(585

)

 

659

 

 

(598

)

Other

617

 

 

(509

)

 

667

 

 

840

 

Changes in assets and liabilities:

 

 

 

 

 

 

 

Accounts receivable

8,268

 

 

2,289

 

 

(10,797

)

 

377

 

Inventories

(11,258

)

 

(552

)

 

(13,336

)

 

(3,077

)

Prepaid expenses and other assets

848

 

 

3,634

 

 

(3,070

)

 

(901

)

Accounts payable

1,917

 

 

(4,109

)

 

27,087

 

 

(12,996

)

Accrued expenses, income taxes, and other

(3,230

)

 

(133

)

 

8,234

 

 

1,271

 

Net cash provided by (used in) operating activities

3,338

 

 

(3,001

)

 

20,050

 

 

(17,999

)

Cash flows from investing activities:

 

 

 

 

 

 

 

Purchases of property, plant and equipment

(652

)

 

(2,452

)

 

(5,736

)

 

(6,621

)

Proceeds from the sale of property, plant and equipment

65

 

 

63

 

 

392

 

 

517

 

Additions to capitalized software development costs and purchases of intangible assets

(9,153

)

 

(5,309

)

 

(29,369

)

 

(22,109

)

Net cash used in investing activities

(9,740

)

 

(7,698

)

 

(34,713

)

 

(28,213

)

Cash flows from financing activities:

 

 

 

 

 

 

 

Gross proceeds from the issuance of 2025 Notes

 

 

 

 

100,000

 

 

 

Payment of issuance costs related to 2025 Notes

(45

)

 

 

 

(3,645

)

 

 

Payoff of term loan and related extinguishment costs

 

 

 

 

(48,830

)

 

 

Cash paid to investors in private exchange transactions

 

 

 

 

(32,062

)

 

 

Gross proceeds received from issuance of Series E preferred stock

 

 

 

 

25,000

 

 

10,000

 

Repurchase of Series E preferred stock

 

 

 

 

(2,354

)

 

 

Proceeds from the exercise of warrants to purchase common stock

 

 

6,903

 

 

1,861

 

 

17,542

 

Net borrowing of bank and overdraft facilities

(309

)

 

112

 

 

(199

)

 

(1,047

)

Principal payments under finance lease obligations

(513

)

 

(227

)

 

(2,756

)

 

(1,022

)

Proceeds from stock option exercises and employee stock purchase plan, net of taxes paid on vested restricted stock units

2,194

 

 

1,739

 

 

5,066

 

 

1,996

 

Net cash provided by (used in) financing activities

1,327

 

 

8,527

 

 

42,081

 

 

27,469

 

Effect of exchange rates on cash

3,096

 

 

301

 

 

523

 

 

(259

)

Net increase (decrease) in cash, cash equivalents and restricted cash

(1,979

)

 

(1,871

)

 

27,941

 

 

(19,002

)

Cash, cash equivalents and restricted cash, beginning of period

41,994

 

 

13,945

 

 

12,074

 

 

31,076

 

Cash, and cash equivalents, end of period

$

40,015

 

 

$

12,074

 

 

$

40,015

 

 

$

12,074

 

INSEEGO CORP.

Reconciliation of GAAP Net Loss to Non-GAAP Net Loss

(In thousands, except per share data)

(Unaudited)

 

 

Three Months Ended

December 31, 2020

 

Year Ended

December 31, 2020

 

Net Loss

 

Net Loss Per

Share

 

Net Loss

 

Net Loss Per

Share

GAAP net loss

$

(12,745

)

 

$

(0.13

)

 

$

(111,186

)

 

$

(1.16

)

Adjustments:

 

 

 

 

 

 

 

Share-based compensation expense(a)

2,231

 

 

0.02

 

 

10,419

 

 

0.11

 

Purchased intangibles amortization(b)

1,287

 

 

0.01

 

 

4,982

 

 

0.05

 

Debt discount and issuance costs amortization (c)

384

 

 

0.01

 

 

4,016

 

 

0.04

 

Fair value adjustment on derivative instrument (d)

1,969

 

 

0.02

 

 

597

 

 

0.01

 

Loss on debt conversion and extinguishment (e)

 

 

 

 

76,354

 

 

0.80

 

Non-recurring costs(f)

 

 

 

 

2,347

 

 

0.02

 

Non-GAAP net loss

$

(6,874

)

 

$

(0.07

)

 

$

(12,471

)

 

$

(0.13

)

(a)

Includes share-based compensation expense recorded under ASC Topic 718.

(b)

Includes amortization of intangible assets purchased through acquisitions.

(c)

Includes the debt discount and issuance costs amortization related to the 2022 Notes and 2025 Notes.

(d)

Includes the fair value adjustment related to the Company’s interest make-whole derivative instrument.

(e)

Includes the loss on debt conversion and extinguishment of the 2022 Notes and 2025 Notes.

(f)

Includes non-recurring legal settlement costs and product transition costs.

 

See “Non-GAAP Financial Measures” for information regarding our use of Non-GAAP financial measures.

INSEEGO CORP.

Reconciliation of GAAP Operating Costs and Expenses to Non-GAAP Operating Costs and Expenses

Three Months Ended December 31, 2020

(In thousands)

(Unaudited)

 

 

GAAP

 

Share-based

compensation

expense

(a)

 

Purchased

intangibles

amortization

(b)

 

Non-

GAAP

Cost of net revenues

$

59,617

 

 

$

287

 

 

$

470

 

 

$

58,860

 

Operating costs and expenses:

 

 

 

 

 

 

 

Research and development

15,505

 

 

531

 

 

 

 

14,974

 

Sales and marketing

9,901

 

 

536

 

 

 

 

9,365

 

General and administrative

7,432

 

 

877

 

 

 

 

6,555

 

Amortization of purchased intangible assets

817

 

 

 

 

817

 

 

 

Impairment of purchased intangible assets

1,410

 

 

 

 

 

 

1,410

 

Total operating costs and expenses

$

35,065

 

 

$

1,944

 

 

$

817

 

 

$

32,304

 

Total

 

 

$

2,231

 

 

$

1,287

 

 

 

(a)

Includes share-based compensation expense recorded under ASC Topic 718.

(b)

Includes amortization of intangible assets purchased through acquisitions.

 

See “Non-GAAP Financial Measures” for information regarding our use of Non-GAAP financial measures.

INSEEGO CORP.

Reconciliation of GAAP Operating Costs and Expenses to Non-GAAP Operating Costs and Expenses

Twelve Months Ended December 31, 2020

(In thousands)

(Unaudited)

 

 

GAAP

 

Share-based

compensation

expense

(a)

 

Purchased

intangibles

amortization

(b)

 

Non-

recurring

costs (c)

 

Non-GAAP

Cost of net revenues

$

222,989

 

 

$

1,583

 

 

$

1,807

 

 

$

997

 

 

$

218,602

 

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

Research and development

44,953

 

 

2,823

 

 

 

 

 

 

42,130

 

Sales and marketing

35,750

 

 

2,346

 

 

 

 

 

 

33,404

 

General and administrative

30,689

 

 

3,667

 

 

 

 

1,350

 

 

25,672

 

Amortization of purchased intangible assets

3,175

 

 

 

 

3,175

 

 

 

 

 

Impairment of capitalized software

1,410

 

 

 

 

 

 

 

 

1,410

 

Total operating costs and expenses

$

115,977

 

 

8,836

 

 

3,175

 

 

1,350

 

 

$

102,616

 

Total

 

 

$

10,419

 

 

$

4,982

 

 

$

2,347

 

 

 

(a)

Includes share-based compensation expense recorded under ASC 718.

(b)

Includes amortization of intangible assets purchased through acquisitions.

(c)

Includes non-recurring legal settlement costs and product transition costs.

 

See “Non-GAAP Financial Measures” for information regarding our use of Non-GAAP financial measures.

INSEEGO CORP.

Reconciliation of GAAP Loss before Income Taxes to Adjusted EBITDA

(In thousands)

(Unaudited)

 

 

Three Months Ended

December 31, 2020

 

Year Ended

December 31, 2020

Loss before income taxes

$

(12,190

)

 

$

(110,438

)

Depreciation and amortization(a)

11,998

 

 

27,946

 

Share-based compensation expense(b)

2,231

 

 

10,419

 

Loss on debt conversion and extinguishment (c)

 

 

76,354

 

Non-recurring costs(d)

1,410

 

 

3,757

 

Interest expense, net(e)

1,745

 

 

9,942

 

Other income, net(f)

1,826

 

 

(992

)

Adjusted EBITDA

$

7,020

 

 

$

16,988

 

Contacts

Inseego Corp.
Media Contact:
Anette Gaven

+1 (619) 993-3058

[email protected]
or

Investor Relations Contact:
Joo-Hun Kim

MKR Group

+1 (212) 868-6760

[email protected]

Read full story here

error: Content is protected !!