GICS Sector : Technology
Inseego Corp.engages in the design and development of fixed and mobile wireless solutions, industrial Internet of Things (IIoT), and cloud solutions for large enterprise verticals, service providers, small and medium-sized businesses, governments, and consumers worldwide.The company provides wireless 4G and 5G hardware products, including private LTE/5G networks, First responders network authority/Firstnet, SD-WAN, telematics, remote monitoring and surveillance, and fixed wireless access and mobile broadband devices.
Inseego Corp.'s Q4 2025 revenue was $48.4 million, with adjusted EBITDA of $6 million, both exceeding guidance. The company's revenue base is now more diversified, driven by a broader product range and increased customer diversity. For the full year 2025, total revenue was $166.2 million, with non-GAAP gross margin of 43%. The adjusted EBITDA for Q4 2025 was $6 million, representing a 12.4% margin. The company's actual EPS for Q4 2025 came out at $0.12, beating estimates of $0.07.
Publication Date: Mar -08
The company's revenue growth was driven by a 27% sequential increase in mobile revenue to $20.4 million, driven by higher carrier stock volumes and channel activity. Inseego secured FX4200 FWA awards with AT&T and Verizon, joining T-Mobile, and expanded its Tier 1 carrier footprint. The company's diversified customer base and product portfolio are expected to drive growth in 2026.
For Q1 2026, the company expects total revenue in a range of $33 million to $36 million and adjusted EBITDA in a range of $1 million to $2 million. For the full year 2026, total revenue is expected to be approximately $190 million, representing a 13.6% growth from 2025. The company's guidance implies a significant step up in revenue, averaging out to $50 million a quarter.
The company's current valuation metrics include a P/E Ratio of 200.55, P/S Ratio of 1.08, and EV/EBITDA of 15.04. The company's return on invested capital (ROIC) is 9.8%, while its return on equity (ROE) is -9.51%. The net debt to EBITDA ratio is 1.74, indicating a relatively stable capital structure.
The company expects both mobile and FWA to grow on a revenue basis in 2026, with FWA having a larger TAM and growth potential. The MSO and distribution channel opportunities are expected to contribute to growth, with the company having made significant investments in products and cloud capabilities. Industry forecasts project North America enterprise FWA service revenue to grow at a 37% compound annual rate through 2030.
The company's 2025 EBITDA margin was 12.1%, with plans to exit 2026 at higher levels. The growth profile for 2026 is expected to be in double digits, driven by investments in new product development and go-to-market capabilities. The company's software business, including Inseego Connect and subscriber life cycle management platform, is expected to provide additional growth opportunities.
Inseego (NASDAQ:INSG) Shares Pass Above 200-Day Moving Average – Here’s What Happened
Apr -08
Analysts Set Inseego (NASDAQ:INSG) PT at $16.50
Apr -03
Inseego Appoints Silvia Rocha-Espino as Head of People
Apr -01
Insig AI surges 16% as CEO offers to invest at premium and company eyes Nasdaq listing
Apr -01
Inseego CEO Pitches Turnaround at Roth Conference: More Carriers, FWA Push, Recurring Revenue Focus
Mar -26
Inseego (NASDAQ:INSG) Receives $16.50 Consensus PT from Brokerages
Mar -09
3 Defense Stocks Under $20 With Massive Upside
Mar -06
Inseego Introduces MiFi® PRO M4, Redefining the Hotspot Category and Advancing Its Vision for the Managed Wireless Edge
Mar -02
Inseego Corp.'s Mobile Solutions segment growth of 11.7% is driven by increasing demand for IoT and 5G-enabled devices, expansion into new markets, and strategic partnerships. Additionally, the company's focus on innovation, such as its cloud-based device management platform, and growing adoption of remote work and digital transformation initiatives also contribute to its growth.
Inseego Corp.'s Services and Other segment growth of 9.95% is driven by increasing demand for IoT and telematics solutions, expansion of managed services, and growth in SaaS-based offerings. Additionally, strategic partnerships and acquisitions have contributed to the segment's growth, along with the company's focus on innovation and R&D investments.
Inseego Corp.'s Fixed Wireless Access Solutions growth is driven by increasing demand for high-speed, low-latency connectivity, 5G network deployments, and government initiatives for rural broadband expansion. Additionally, the need for reliable, cost-effective alternatives to traditional fiber-based networks and the growing adoption of IoT devices are contributing to the 12.05% growth.
A mobile hotspot device that provides fast and reliable internet connectivity on-the-go
A high-performance, industrial-grade LTE router designed for IoT and M2M applications
A 5G NR mobile hotspot device that provides high-speed internet connectivity for up to 32 devices
A dual-SIM, industrial-grade LTE router designed for IoT and M2M applications
A high-performance, mobile hotspot device that provides fast and reliable internet connectivity for up to 20 devices
Inseego Corp. operates in the IoT and mobile broadband industries, where substitutes are limited. However, the increasing adoption of 5G technology and the growing demand for IoT devices may lead to the development of new substitutes, posing a moderate threat to the company.
Inseego Corp. has a diverse customer base, including telecommunications operators, enterprises, and consumers. The company's products and services are critical to its customers' operations, reducing their bargaining power.
Inseego Corp. relies on a few key suppliers for components and manufacturing services. While the company has some bargaining power due to its size and reputation, suppliers may still exert some pressure on prices and delivery terms.
The IoT and mobile broadband industries are rapidly evolving, with new entrants emerging regularly. Inseego Corp. faces a high threat from new entrants, particularly from companies with strong technological capabilities and innovative products.
The IoT and mobile broadband industries are highly competitive, with several established players competing for market share. Inseego Corp. faces intense rivalry from companies like Sierra Wireless, Cradlepoint, and Netgear, among others.
| Value | |
|---|---|
| Debt Weight | 260.59% |
| Debt Cost | 5.21% |
| Equity Weight | -160.59% |
| Equity Cost | 9.86% |
| WACC | -2.24% |
| Leverage | -162.27% |
Value: 6.7
Growth: 3.8
Quality: 5.2
Yield: 1.0
Momentum: 8.5
Volatility: 5.3
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