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olivLaw · US equity research

Inseego Corp. INSG

Communications Equipment, NEC · SIC 3669 · Vertical: Communications Equipment, NEC (SIC 3669)

4.83USD+6.62% · 1 dayClose 04 Nov 2026

Inseego designs and develops cloud-managed wireless WAN solutions, from 5G routers for enterprises to MiFi mobile hotspots, plus the Inseego Subscribe SaaS platform for carriers. The company matters now because it is shifting toward recurring software revenue and has announced the acquisition of Nokia's FWA business, with full-year 2026 revenue guidance of approximately $155 million.

At the close of 04 Nov 2026, Inseego Corp. (INSG) stock was 4.83 USD (+6.62% on the day), with market capitalisation 79.3 m USD, P/E 25.3 on diluted EPS of 0.19 USD over the last 12 months, beta 1.98, 52-week range 3.61–20.29 USD. Latest reported quarter (Q2 2026): revenue of 44.0 m USD (+9.4% YoY), net income of -8.4 m USD (−1,764.3% YoY), diluted EPS -0.52 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
79.3 m USD
shares as of 29 Jul 2026
P/E (TTM)
25.3
Diluted EPS TTM 0.19 · TTM to 30 Jun 2026
E/P (TTM)
3.95%
TTM to 30 Jun 2026
Dividend yield
unavailable
Beta (2y)
1.98
Volatility (1y) 83%
52-week range
3.6120.29

Price history

Loading chart…

Technical reading

RSI (14)
57.1
strong (55–70)
Bollinger (20, 2)
3.85 – 5.06
in the upper half of the band · %B 0.81 · band width 27.3%
SMA 50 / 200
4.31 / 9.31
mixed trend
MACD (12, 26, 9)
0.10 / 0.06
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+4.5%−2.0%+6.5 pp—
3 months−35.0%−2.2%−32.8 pp—
6 months−74.6%+4.3%−78.9 pp—
Year to date−53.0%+10.6%−63.5 pp—
1 year−65.9%+10.5%−76.3 pp−24.8%
3 years+30.5%+73.7%−43.1 pp+22.4%
5 years−93.1%+61.7%−154.9 pp—
Max drawdown (1y)
−82.2%
01 May 2026 → 28 Sept 2026
Max drawdown (5y)
−97.7%
17 Nov 2021 → 17 Jan 2024
Compound annual growth (5y)
−41.5%
S&P 500 +10.1%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q2 2026 · 30 Jun 2026

Revenue
44.0 m USD
+9.4% YoY
Net income
-8.4 m USD
−1,764.3% YoY
Diluted EPS
-0.52
unavailable YoY
net / operating
-19.2% / -16.5%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue54.0 m48.1 m31.7 m40.2 m45.9 m48.4 m34.3 m44.0 m
Cost of revenue35.2 m30.1 m16.7 m23.7 m26.8 m28.0 m17.7 m29.1 m
Gross profit18.8 m17.9 m15.0 m16.5 m19.1 m20.4 m16.6 m14.8 m
Research & development5.2 m5.6 m4.5 m4.8 m4.9 m5.6 m5.8 m5.3 m
Operating income1.0 m1.8 m-424.0 k1.3 m2.2 m1.3 m-3.6 m-7.2 m
Depreciation & amortisation3.2 m2.3 m2.1 m1.8 m2.2 m2.4 m1.8 m2.2 m
Pre-tax income7.6 m-16.0 m-1.1 m529.0 k1.4 m504.0 k-4.5 m-8.4 m
Income tax36.0 k518.0 k23.0 k22.0 k-36.0 k35.0 k34.0 k35.0 k
Net income9.0 m-566.0 k-1.6 m507.0 k1.4 m469.0 k-4.5 m-8.4 m
Diluted EPS-0.06-0.04 ≈-0.16-0.030.030.03 ≈0.65-0.52
Operating cash flow14.8 m ≈-14.2 m-3.5 m-4.5 m ≈3.2 m ≈12.0 m1.7 m-23.8 m ≈
Capex5.0 k ≈70.0 k32.0 k188.0 k ≈101.0 k ≈340.0 k131.0 k348.0 k ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 50 percentile of its own 2-quarter history (min 16.3, median 35.3, max 54.2; quarters with earnings only).

Fiscal years

Fiscal year20182019202020212022202320242025
Revenue202.5 m219.5 m313.8 m262.4 m245.3 m167.3 m191.2 m166.2 m
Revenue YoY−7.7%+8.4%+43.0%−16.4%−6.5%−31.8%+14.3%−13.1%
Net income-8.1 m-40.1 m-111.2 m-48.1 m-68.0 m-46.2 m4.6 m838.0 k
Net income YoYunavailableunavailableunavailableunavailableunavailableunavailableunavailable−81.7%
Diluted EPSunavailable-0.52-1.19-0.51-6.59-4.320.10-0.18
Diluted EPS YoYunavailableunavailableunavailableunavailableunavailableunavailableunavailable−280.0%
net %-4.0%-18.3%-35.4%-18.3%-27.7%-27.6%2.4%0.5%
Free cash flow-3.1 m-24.6 m14.3 m-30.1 m-34.8 m5.7 m33.4 m6.5 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
24.9 m USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
-4.0 m USD
Total assets
93.8 m USD
Debt / equity
unavailable
Current ratio
1.32x
ROE
unavailable
ROA
0.9%
FCF margin
3.9%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
167.3 m
2024
191.2 m
2025
166.2 m

SEC (XBRL)· 20 Feb 2026verified

Cost of revenue
2023
131.5 m
2024
122.4 m
2025
95.2 m

SEC (XBRL)· 20 Feb 2026verified

Gross profit
2023
35.8 m
2024
68.8 m
2025
71.0 m

SEC (XBRL)· 20 Feb 2026verified

Research & development
2023
19.7 m
2024
20.6 m
2025
19.8 m

SEC (XBRL)· 20 Feb 2026verified

Operating income
2023
-36.0 m
2024
1.7 m
2025
4.3 m

SEC (XBRL)· 20 Feb 2026verified

Depreciation & amortisation
2023
18.7 m
2024
12.5 m
2025
8.4 m

SEC (XBRL)· 20 Feb 2026verified

EBITDA
2023
-17.2 m ≈
2024
14.2 m ≈
2025
12.8 m ≈

SEC (XBRL)· 20 Feb 2026derived

Pre-tax income
2023
-45.0 m
2024
-13.7 m
2025
1.3 m

SEC (XBRL)· 20 Feb 2026verified

Income tax
2023
43.0 k
2024
689.0 k
2025
44.0 k

SEC (XBRL)· 20 Feb 2026verified

Net income
2023
-46.2 m
2024
4.6 m
2025
838.0 k

SEC (XBRL)· 20 Feb 2026verified

Diluted EPS
2023
-4.32
2024
0.10
2025
-0.18

SEC (XBRL)· 20 Feb 2026verified

Weighted average diluted shares
2023
11.4 m
2024
12.5 m
2025
15.1 m

SEC (XBRL)· 20 Feb 2026verified

Balance sheet · USD

Cash
2023
2.4 m
2024
39.6 m
2025
24.9 m

SEC (XBRL)· 20 Feb 2026verified

Receivables
2023
18.2 m
2024
13.8 m
2025
25.1 m

SEC (XBRL)· 20 Feb 2026verified

Inventories
2023
20.6 m
2024
13.6 m
2025
7.7 m

SEC (XBRL)· 20 Feb 2026verified

Current assets
2023
58.2 m
2024
72.9 m
2025
64.1 m

SEC (XBRL)· 20 Feb 2026verified

Property, plant & equipment, net
2023
2.4 m
2024
1.1 m
2025
1.1 m

SEC (XBRL)· 20 Feb 2026verified

Goodwill
2023
3.9 m
2024
3.9 m
2025
3.9 m

SEC (XBRL)· 20 Feb 2026verified

Intangibles (excl. goodwill)
2023
25.7 m
2024
18.7 m
2025
20.7 m

SEC (XBRL)· 20 Feb 2026verified

Total assets
2023
121.8 m
2024
100.0 m
2025
93.8 m

SEC (XBRL)· 20 Feb 2026verified

Accounts payable
2023
23.4 m
2024
18.4 m
2025
23.6 m

SEC (XBRL)· 20 Feb 2026verified

Short-term debt
2023
0
2024
—
2025
—

SEC (XBRL)· 08 Aug 2024verified

Current liabilities
2023
55.9 m
2024
63.5 m
2025
48.4 m

SEC (XBRL)· 20 Feb 2026verified

Total liabilities
2023
223.9 m
2024
112.9 m
2025
97.9 m

SEC (XBRL)· 20 Feb 2026verified

Equity
2023
-102.1 m
2024
-12.9 m †
2025
-4.0 m †

SEC (XBRL)· 20 Feb 2026verified

Cash flow · USD

Operating cash flow
2023
6.0 m
2024
33.5 m
2025
7.2 m

SEC (XBRL)· 20 Feb 2026verified

Capex
2023
224.0 k
2024
100.0 k
2025
661.0 k

SEC (XBRL)· 20 Feb 2026verified

Free cash flow
2023
5.7 m ≈
2024
33.4 m ≈
2025
6.5 m ≈

SEC (XBRL)· 20 Feb 2026derived

Investing cash flow
2023
-10.2 m
2024
43.0 m
2025
-8.6 m

SEC (XBRL)· 20 Feb 2026verified

Financing cash flow
2023
2.2 m
2024
-38.8 m
2025
-13.4 m

SEC (XBRL)· 20 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
-13.1%
computed by olivLawFY 2025
Revenue CAGR 3Y
-12.2%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
-11.9%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
151.7%
computed by olivLawFY 2025
Net income growth (YoY)
-81.7%
computed by olivLawFY 2025
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
-280.0%
computed by olivLawFY 2025
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
-80.4%
computed by olivLawFY 2025

Profitability

Gross margin
41.1%
computed by olivLawTTM to 30 Jun 2026
EBITDA margin
0.7%
computed by olivLawTTM to 30 Jun 2026
EBIT margin
-4.3%
computed by olivLawTTM to 30 Jun 2026
Net margin
-6.4%
computed by olivLawTTM to 30 Jun 2026
FCF margin
-4.5%
computed by olivLawTTM to 30 Jun 2026

Returns

ROE
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
ROA
-12.8%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROIC
unavailable
equity is negative: buybacks shrink the invested capital and ROIC would come out large without meaning anything
ROCE
-20.4%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
1.1x
computed by olivLawbalance sheet at 30 Jun 2026
Cash ratio
0.0x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
-6.9 m USD
computed by olivLawTTM to 30 Jun 2026
Capital expenditure
920.0 k USD
computed by olivLawTTM to 30 Jun 2026
Free cash flow
-7.9 m USD
computed by olivLawTTM to 30 Jun 2026
FCF conversion
unavailable
insufficient data
Cash conversion
-556.3%
computed by olivLawTTM to 30 Jun 2026

Efficiency

Days sales outstanding
68 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Days payables outstanding
92 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026

Market and valuation

Market capitalisation
79.3 m USD
computed by olivLawbalance sheet at 30 Jun 2026
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
25.3x
computed by olivLawTTM to 30 Jun 2026
Earnings yield
3.9%
computed by olivLawTTM to 30 Jun 2026
P/B
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
P/S
0.5x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-9.9%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

4 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

4.83 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 79.3 m USD

Key indicators

Market capitalisation
79.3 m USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
25.3x
computed by olivLawTTM to 30 Jun 2026
P/B
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
EV/EBITDA
unavailable
input data missing
ROE
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
Net margin
-6.4%
computed by olivLawTTM to 30 Jun 2026
Revenue growth (YoY)
-13.1%
computed by olivLawFY 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

30/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 29 Jul 2026
Source: SEC (XBRL)published 06 Aug 2026
verified 2334derived 186

Score by group

72% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)

no valuation method could be computed

Multiple comparisons use the SIC vertical: Communications Equipment, NEC (SIC 3669)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
Gross margin · Quality41.1%3 (on a fixed band)15%
EBIT margin · Quality-4.3%45 (vs peers)12%
FCF margin · Quality-4.5%0 (on a fixed band)12%
Revenue CAGR 3Y · Growth-12.2%0 (on a fixed band)24%
Revenue growth (YoY) · Growth-13.1%27 (vs peers)12%
Net debt / EBITDA · Balance sheetunavailableunavailable—
Current ratio · Balance sheet1.1x16 (on a fixed band)9%
EV/Sales · Valuationunavailableunavailable—
FCF yield · Valuation-9.9%0 (on a fixed band)18%
Shareholder yield (distributions) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial16/100 · 1/2 factors with a value
  • Growth9/100 · 2/2 factors with a value
  • Quality15/100 · 3/3 factors with a value
  • Returns· partialunavailable · 0/1 factors with a value
  • Valuation· partial0/100 · 1/2 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

INSEEGO CORP. (INSG). Latest full fiscal year: 2025; data up to 2026-06-30.

Figures computed from the financial statements: revenue 166.2 m USD in 2025; YoY growth -13.1%; net margin -6.4%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.

What contradicts it

  • Gross margin: 41.1%
  • FCF margin: -4.5%
  • Revenue CAGR 3Y: -12.2%
  • Revenue growth (YoY): -13.1%
  • Current ratio: 1.1x
  • FCF yield: -9.9%

Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales, Shareholder yield (distributions).

Versus the vertical median

Communications Equipment, NEC (SIC 3669) · same industry (4-digit SIC) · compared with 11 companies

Multiples and returns vs the median

P/E
25.3x
vertical median 19.8x
above median (+28.0%)
EV/EBITDA
—
vertical median 21.7x
P/S
0.5x
vertical median 1.7x
below median (−72.6%)
P/B
—
vertical median 1.6x
ROE
—
vertical median -19.4%
Net margin
-6.4%
vertical median -33.4%
above median
EBIT margin
-4.3%
vertical median 3.1%
below median (−237.7%)
Revenue YoY
-13.1%
vertical median 5.3%
below median (−349.0%)
Net debt/EBITDA
—
vertical median 3.9x
Dividend yield
—
vertical median —

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
LITELumentum Holdings Inc.61.7 bn—-245.8%-175.8%+83.2%+109% / +1,489%
ESEEsco Technologies Inc.6.2 bn19.821.4%24.4%+19.2%+13% / +128%
NSSCNapco Security Technologies, Inc1.1 bn25.923.4%21.6%+11.4%−21% / +4%
AIOTPowerfleet, Inc.381.2 m—-4.0%-4.2%+22.4%−43% / +22%
TBCHTurtle Beach Corporation303.7 m—-3.2%-1.1%−14.2%+22% / +50%
INSGInseego Corp.79.3 m25.3—-6.4%−13.1%−66% / +31%
AMPGAmplitech Group, Inc.74.5 m—-19.4%-33.4%+165.0%−25% / +56%
REKRRekor Systems, Inc.49.3 m—-62.8%-43.8%+5.3%−80% / −87%
KSCPKnightscope, Inc.34.7 m—-201.3%-217.3%+4.9%−91% / −98%
SNTSenstar Technologies Corporation33.7 m10.38.0%8.8%+1.7%−63% / +28%
UTSIUTStarcom Holdings Corp.19.2 m—-19.5%-88.5%−17.5%−16% / −42%
MTEKMaris-Tech Ltd.2.1 m—-168.6%-403.3%−77.9%−81% / −75%

1- and 3-year price returns: for INSG from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
3 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
5 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
What moves the 3-year price the most

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    In brief

    Inseego designs and develops cloud-managed wireless WAN solutions, from 5G routers for enterprises to MiFi mobile hotspots, plus the Inseego Subscribe SaaS platform for carriers. The company matters now because it is shifting toward recurring software revenue and has announced the acquisition of Nokia's FWA business, with full-year 2026 revenue guidance of approximately $155 million 3.

    SWOT

    Strengths

    • The company has a long history in wireless technology, in-house 4G and 5G modem design and direct relationships with major U.S. carriers.
    • The Inseego Connect and Inseego Subscribe cloud platforms provide recurring revenue and integration with existing customers.
    • The launch of the MiFi PRO M4 across three major U.S. carriers shows execution capability in mobile.

    Weaknesses

    • Revenue depends heavily on a few customers, making results sensitive to changes in their plans.
    • The company reported a GAAP net loss in the second quarter of 2026, and gross margins remain under pressure.
    • Manufacturing is outsourced to contract manufacturers in Asia, creating dependence on suppliers and key components.

    Opportunities

    • Growth in fixed wireless access for enterprises and SMBs could open new customer categories.
    • The Nokia FWA acquisition could add customers and products if integration succeeds.
    • Expanding the channel partner network and international sales could reduce reliance on U.S. operators.

    Threats

    • Better-funded competitors could offer cheaper or more tightly integrated edge solutions.
    • Trade tariffs and export restrictions could raise production costs and delay deliveries.
    • Cuts in customers' IT budgets could lengthen sales cycles and reduce revenue.

    Risks

    • Dependence on two customershigh

      A very large share of revenue comes from Verizon and T-Mobile. Any major change in the relationship with either could affect financial results 1.

    • Debt and credit facilitieshigh

      The company has significant debt service obligations and must comply with financial covenants. If it fails to, lenders could accelerate repayment 1.

    • Nokia FWA integrationmedium

      The FWA transaction may not close on time or deliver the expected synergies, and integration could divert management from current operations 3.

    • Supply chainmedium

      The company relies on sole-source suppliers for some components, and a memory chip shortage could delay production 1.

    • Share price volatilitylow

      The share price has been highly volatile and could remain so, affecting investors and the ability to raise capital 1.

    Investment thesis

    What would need to be true (bull case)

    • If MiFi and FWA launches turn into repeat orders, revenue could grow and margins could improve, especially in recurring software.
    • Integrating the Nokia business could bring a broader portfolio and a more diversified customer base, reducing reliance on a few operators.
    • If Inseego Subscribe expands its customer base, recurring revenue could become a larger part of the total.

    What would break the thesis

    • If a major operator reduces orders, revenue could fall quickly and losses could persist.
    • Debt and payment obligations could limit financial flexibility if operating results do not improve.
    • Competitors with larger budgets could cut prices or gain share in fixed wireless access.

    What to watch

    • Revenue guidance for the third quarter of 2026 and whether it is metQ3 2026
    • Closing of the Nokia FWA acquisition and integration progressQ4 2026
    • Gross margin and whether MiFi launches convert into orders2026
    • Changes in customer concentration, especially Verizon and T-Mobile, in the next annual reportnext 10-K

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    The business

    Inseego designs and develops cloud-managed wireless wide area network and intelligent edge solutions for carrier, enterprise and SMB segments. Its portfolio includes 5G devices for mobile broadband and fixed wireless access, supported by Inseego Connect for device management and Inseego Subscribe, a SaaS platform for carriers' subscriber management. Products are designed in the U.S. and manufactured by contract manufacturers in Asia 13.

    Segments

    Mobile Solutions

    This segment covers MiFi hotspots, sold mainly to mobile operators. The launch of the MiFi PRO M4 with AT&T, T-Mobile and Verizon in the second quarter of 2026 is a key operational milestone 13.

    Fixed Wireless Access Solutions

    Wavemaker routers and gateways, sold through operators and distribution partners, serve distributed enterprise and SMB sites. The announced acquisition of Nokia's FWA business could expand this segment if the deal closes as expected 13.

    Software Services and Other

    Most of this segment comes from Inseego Subscribe, with recurring revenue from one large carrier, plus Inseego Connect and non-recurring engineering services 1.

    Market context

    Wireless access for enterprises and SMBs is growing as 5G networks expand coverage and capacity and operators offer fixed wireless broadband plans. The sources describe the market as rapidly evolving and highly competitive, with new entrants possible from equipment and device makers 1.

    Trends

    • 5G mid-band adoptiontailwind

      Mid-band 5G networks could bring broadband to many business users, and fixed wireless access is seen as the initial growth driver if this pattern holds 1.

    • Customer concentrationheadwind

      Dependence on a few large operators could limit growth if they reduce orders or change purchasing plans. The company says it intends to diversify its customer base 1.

    • Inflation and tariffsmixed

      Inflation, interest rates, supply chains and trade tariffs could raise costs and slow customers' IT budgets. The effect depends on whether the company can pass costs on in its prices 1.

    • Acquisition-led consolidationmixed

      The acquisition of Nokia's FWA business, expected to close in the fourth quarter of 2026, could complete the portfolio but carries integration and execution risks 3.

    Competitive position

    Competition is split by segment. In mobile broadband the sources name Netgear, Franklin Wireless, TCL, ZTE, Orbic and Sonim. In fixed wireless access they name Nokia, Ericsson Wireless Solutions, ZTE, Peplink, Teltonika and Cisco 1.

    • NetgearNTGR

      Competitor in mobile broadband, named in the annual report 1.

    • Franklin Wireless

      Competitor in mobile broadband, named in the annual report 1.

    • Nokia

      Competitor in fixed wireless access and also the seller of the FWA business Inseego plans to acquire 13.

    • CiscoCSCO

      Competitor in fixed wireless access, named in the annual report 1.

    News & filings

    In the press

    No news in our archive over the last 180 days.

    SEC filings

    Sources

    1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Inseego Corp. · 20 Feb 2026
    2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Inseego Corp. · 06 Aug 2026
    3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Inseego Corp. · 05 Aug 2026

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.