INSG · Inseego Corp.

Inseego Corp. reported Q1 2026 results meeting guidance with total revenue of $34.3 million, up 8.4% year-over-year driven by 179% growth in Fixed Wireless Access (FWA) revenue, offsetting softer mobile solutions, alongside stable services revenue of $12.3 million (up 3% YoY). GAAP gross margin expanded to 48.3%, reflecting five straight quarters above 40% due to favorable product mix, cost discipline, and higher FWA/services contribution; non-GAAP gross margin reached 48.9%. Adjusted EBITDA of $1.8 million (5.1% margin) was achieved amid investments in carrier ramps, product launches, and go-to-market expansion planned for H1 2026 to fuel H2 growth. GAAP net loss stood at $4.5 million. Balance sheet shows $19 million cash and $49 million long-term debt due 2029, with net debt ~$28 million after preferred stock elimination in January 2026 at a 38% discount. CEO Juho Sarvikas highlighted diversification and H1 investments for H2 profitability, while CFO Steven Gatoff noted healthy margins. Key is the transformative Nokia FWA acquisition announcement: targeting a business with ~$200 million annualized revenue run rate to double Inseego’s scale, adding global customers upon Q4 2026 close. Nokia gains ~11% ownership via $20 million equity and $10 million investment, plus collaboration on 6G/AI/wireless edge. Business wins include U.S. Tier-1 carrier orders for 4th-gen FWA and value-tier MiFi devices; Koroush Saraf appointed Chief Product Officer. Guidance: Q2 revenue $36.5-$43.5 million, Adjusted EBITDA $0.25-$2.0 million; full-year revenue ~$190 million, signaling acceleration.