Microvast Holdings announces departure of chief financial officer
SAN DIEGO - Inseego Corp. (NASDAQ:INSG), known for its 5G mobile broadband and fixed wireless access solutions, today announced the appointment of George Mulhern to its Board of Directors, expanding the board from five to six members. The company, currently valued at $122.3 million, has shown remarkable market performance with a 125% return over the past year, according to InvestingPro data. Mulhern, a seasoned executive in the wireless technology sector, brings with him a wealth of experience, including a tenure as the SVP/Global Business Unit Manager at Ericsson Enterprise Wireless Solutions and as Chairman and CEO of Cradlepoint, Inc.
During his leadership at Cradlepoint from 2011 to 2020, Mulhern led the company through significant growth, increasing its revenue by approximately 20 times and culminating in an acquisition by Ericsson. His career also includes over 20 years at Hewlett Packard in various senior leadership roles. Mulhern holds both Bachelor’s and Master’s degrees in Business Administration from San Jose State University. His appointment comes as Inseego maintains a solid financial foundation with revenue of $191.24 million in the last twelve months and a healthy current ratio of 1.15.
Jeff Tuder, Chairman of Inseego’s board, expressed enthusiasm about Mulhern’s appointment, citing his strategic and operational insight as invaluable for the company’s growth. CEO Juho Sarvikas highlighted Mulhern’s pioneering role in the enterprise wireless networking industry and his expertise in the ’as-a-service’ model, anticipating a strong contribution to Inseego’s transformation to an enterprise solution provider.
Mulhern himself commented on the opportunity to leverage his experience to help Inseego capitalize on the significant market opportunities presented by the growing enterprise demand for high-quality wireless broadband solutions provided by trusted U.S. suppliers.
The expansion of Inseego’s board to include Mulhern, who will serve as an independent director, comes at a time when the company is poised to address increased enterprise demand for its 5G solutions. Inseego prides itself on powering new business experiences by connecting distributed sites and workforces, securing enterprise data, and improving business outcomes with intelligent operational visibility—all over a 5G network. InvestingPro analysis suggests the stock is currently undervalued, with analysts forecasting profitability this year. For deeper insights into Inseego’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
This appointment reflects Inseego’s commitment to leadership and innovation in the 5G space, as the company looks to further its market presence and meet the evolving needs of its enterprise and SMB customers. The information regarding George Mulhern’s appointment is based on a press release statement from Inseego Corp.
In other recent news, Inseego Corp reported a notable 33% year-over-year increase in Q4 2024 revenue, reaching $48.1 million, and a full-year revenue growth of 40% to $191.2 million. The company achieved this through strategic actions, including the sale of its telematics business, which contributed $52 million and helped significantly reduce its total debt from $165 million to $56 million. Despite these financial improvements, Stifel analysts have adjusted their price target for Inseego to $8.00 from a previous $11.00, maintaining a Hold rating due to concerns about revenue and free cash flow sustainability. Additionally, Inseego has appointed CBIZ CPAs P.C. as its new independent auditor following the acquisition of Marcum LLP’s attest business. This change in auditors was seamless, with no disagreements reported between Inseego and Marcum during the fiscal years under review. These developments reflect Inseego’s ongoing efforts to strengthen its financial position and strategic execution, as it continues to focus on growth and innovation under the leadership of its new CEO, Juho Sarvikas.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.