INSEEGO CORP. INSG
Inseego is a leader in the design and development of cloud-managed wireless wide area network ("WAN") and intelligent edge solutions. Our 5G WAN portfolio is comprised of secure and high-performance mobile broadband and fixed wireless access ("FWA") solutions with associated cloud solutions for real time WAN visibility, monitoring, automation and control with centralized orchestration of network functions. These devices are specifically built for the carrier, enterprise and small and medium business ("SMB") market segments with a focus on performance, scalability, quality and enterprise grade security. We also provide a Communication Service Provider ("CSP") subscriber lifecycle management SaaS solution for carriers' management of their government and complex enterprise customer subscriptions.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $166.2M | $191.2M | $167.3M | $245.3M | $262.4M | $313.8M | $219.5M | $202.5M | $219.3M | $243.6M |
| Cost of revenue | — | — | — | $178.4M | $186.5M | $223.0M | $155.5M | $131.9M | $152.0M | $167.2M |
| Gross profit | $71.0M | $68.8M | $35.8M | $66.9M | $75.9M | $90.8M | $64.0M | $70.6M | $67.3M | $76.3M |
| R&D | $19.8M | $20.6M | $19.7M | $38.3M | $52.7M | $45.0M | $23.9M | $20.6M | $21.4M | $30.7M |
| SG&A | $20.8M | $17.2M | $15.9M | $26.2M | $28.2M | $30.7M | $27.3M | $25.3M | $34.4M | $52.4M |
| Total operating expenses | $66.7M | $67.1M | $71.7M | $124.8M | $122.4M | $116.0M | $83.5M | $56.6M | $89.5M | $121.3M |
| Operating income | $4.3M | $1.7M | -$36.0M | -$57.9M | -$46.5M | -$25.1M | -$19.5M | $14.0M | -$22.2M | -$45.0M |
| Pre-tax income | $1.3M | -$13.7M | -$45.0M | -$68.4M | -$47.7M | -$110.4M | -$39.6M | -$7.3M | -$45.6M | -$60.2M |
| Income tax | $44.0K | $689.0K | $43.0K | $465.0K | $191.0K | $748.0K | $536.0K | $815.0K | $214.0K | $381.0K |
| Net income | $838.0K | $4.6M | -$46.2M | -$68.0M | -$48.1M | -$111.2M | -$40.1M | -$8.1M | -$45.7M | -$60.6M |
| EPS, basic | -0.18 | 0.10 | -4.32 | -6.59 | -0.51 | -1.19 | -0.52 | — | — | — |
| EPS, diluted | -0.18 | 0.10 | -4.32 | -6.59 | -0.51 | -1.19 | -0.52 | -0.12 | -0.78 | -1.12 |
| Shares, diluted (wtd. avg.) | $15.1M | $12.5M | $11.4M | $10.7M | $103.2M | $96.1M | $78.3M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $24.9M | $39.6M | $2.4M | $3.2M | $49.8M | $40.0M | $12.1M | $31.1M | $21.3M | $9.9M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $0 |
| Receivables | $25.1M | $13.8M | $18.2M | $25.3M | $26.8M | $29.9M | $19.7M | $20.6M | $15.7M | $22.2M |
| Inventory | $7.7M | $13.6M | $20.6M | $38.0M | $37.4M | $34.0M | $25.3M | $26.4M | $20.4M | $31.1M |
| Total current assets | $64.1M | $72.9M | $58.2M | $78.4M | $127.6M | $114.1M | $64.1M | $84.4M | $66.4M | $68.4M |
| Property, plant and equipment | $1.1M | $1.1M | $2.4M | $5.4M | $8.1M | $13.7M | $10.8M | $6.7M | $7.0M | $8.4M |
| Goodwill | $3.9M | $3.9M | $3.9M | $21.9M | $20.3M | $32.5M | $33.7M | $32.9M | $37.7M | $34.4M |
| Other intangibles | $20.7M | $18.7M | $25.7M | $41.4M | $47.0M | $51.5M | $44.4M | $32.0M | $38.7M | $40.3M |
| Total assets | $93.8M | $100.0M | $121.8M | $159.9M | $215.8M | $227.4M | $161.4M | $162.3M | $158.2M | $158.7M |
| Accounts payable | $23.6M | $18.4M | $23.4M | $29.0M | $48.6M | $52.3M | $26.5M | $39.2M | $29.3M | $31.2M |
| Total current liabilities | $48.4M | $63.5M | $55.9M | $57.0M | $74.8M | $75.7M | $44.5M | $53.7M | $60.0M | $62.4M |
| Long-term debt | — | — | — | — | — | — | $152.6M | $152.6M | $153.5M | $120.6M |
| Total liabilities | $97.9M | $112.9M | $223.9M | $230.1M | $240.7M | $255.3M | $198.7M | $198.8M | $203.8M | $176.4M |
| Retained earnings | -$908.4M | -$905.6M | -$906.9M | -$857.8M | -$787.0M | -$732.4M | -$618.3M | -$577.8M | -$569.8M | -$524.0M |
| Total equity | -$4.0M | -$12.9M | -$102.1M | -$70.1M | -$24.9M | -$27.9M | -$37.4M | -$36.5M | -$45.6M | -$17.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.2M | $33.5M | $6.0M | -$33.3M | -$25.2M | $20.1M | -$18.0M | -$1.8M | -$14.6M | -$6.6M |
| Depreciation and amortisation | $8.4M | $12.5M | $18.7M | $27.2M | $25.3M | $27.9M | $18.4M | $13.7M | $14.3M | $14.1M |
| Stock-based compensation | $7.4M | $3.8M | $7.0M | $17.9M | $16.6M | $10.4M | $7.3M | $4.9M | $3.7M | $4.6M |
| Capital expenditure | $661.0K | $100.0K | $224.0K | $1.5M | $4.9M | $5.7M | $6.6M | $1.3M | $1.8M | $1.4M |
| Investing cash flow | -$8.6M | $43.0M | -$10.2M | -$13.3M | $6.1M | -$34.7M | -$28.2M | -$4.2M | -$4.4M | $5.0M |
| Financing cash flow | -$13.4M | -$38.8M | $2.2M | $5.4M | $29.9M | $42.1M | $27.5M | $17.7M | $30.4M | -$1.3M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001683168-26-003150.
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