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SAN DIEGO - Inseego Corp. (NASDAQ:INSG) reported fourth-quarter earnings that fell short of analyst estimates, sending its stock down 7.3% in after-hours trading.
The 5G mobile and fixed wireless solutions provider posted an adjusted loss per share of -$1.23 for Q4 2024, significantly below the analyst consensus of $0.02 earnings per share. Revenue came in at $48.09 million, surpassing expectations of $45.56 million and representing a 5.5% increase YoY.
Despite beating revenue estimates, Inseego’s substantial earnings miss overshadowed the top-line growth. The company reported positive adjusted EBITDA of $5.4 million and GAAP operating income of $1.8 million for the quarter.
"Our fourth-quarter operational performance delivered encouraging results, reflecting strength in both revenue and Adjusted EBITDA," said Juho Sarvikas, Chief Executive Officer of Inseego. "While we see some near-term headwinds in the first quarter, I am confident that we are on track to deliver year-on-year growth in 2025."
For Q1 2025, Inseego expects revenue between $30.0 million and $33.0 million, with adjusted EBITDA ranging from $2.0 million to $3.0 million.
The company completed the sale of its telematics business for $52.7 million in cash during the quarter. It also restructured its convertible debt, exchanging $91.5 million of principal value for long-term debt and equity.
Inseego’s GAAP gross margin for Q4 2024 was 37.3%, while full-year 2024 GAAP gross margin stood at 36.0%.
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