Inseego Corp. (INSG) 10-Year Financial Performance & Capital Metrics

INSG • • Industrial / General

TechnologyCommunication EquipmentIoT & M2M CommunicationsIoT Connectivity Platforms

AboutInseego 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. Its products include 4G and 5G fixed wireless routers and gateways, mobile hotspots, and wireless gateways and routers for IIoT applications; and Gb speed 4G LTE hotspots and USB modems, integrated telematics, and mobile tracking hardware devices, which are supported by applications software and cloud services designed to enable customers to analyze data insights and configure/manage their hardware remotely. In addition, the company sells software-as-a-service (SaaS), software, and services solutions in various mobile and IIoT vertical markets comprising fleet management, vehicle telematics, stolen vehicle recovery, asset tracking, monitoring, business connectivity, and subscription management. Its SaaS delivery platforms include telematics, asset tracking, and management platforms which provide fleet, vehicle, aviation, asset, and other telematics applications; and Inseego Subscribe, a hosted SaaS platform that helps organizations in managing the selection, deployment, and spend of their customers wireless assets by helping them to save money on personnel and telecom expenses. Inseego Corp. was founded in 1996 and is based in San Diego, California.Show more

Revenue $191M +14.3%
EBITDA $14M +182.6%
Net Income $5M +109.9%
EPS (Diluted) 0.10 +102.3%
Gross Margin 35.97% +68.2%
EBITDA Margin 7.45% +172.2%
Operating Margin 0.9% +104.2%
Net Margin 2.39% +108.7%
ROE -
ROIC 3.71% +110.9%
Debt/Equity -
Interest Coverage 0.16 +104.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FCF machine: 17.5% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Efficient asset utilization: 1.9x turnover

✗Weaknesses

✗Shares diluted 10.2% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.32%

5Y-2.72%

3Y-10.01%

TTM-7.37%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM97.86%

EPS CAGR

10Y-

5Y-

3Y-

TTM79.19%

ROCE

10Y Avg-22.11%

5Y Avg-21.96%

3Y Avg-23.17%

Latest3.35%

Peer Comparison

IoT Connectivity Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PIImpinj, Inc.	5.17B	171.71	123.53	19.04%	-3.45%	-6.36%	2.15%	1.95
INSGInseego Corp.	179.02M	11.68	116.80	14.32%	-0.12%		18.67%
DGIIDigi International Inc.	1.62B	43.20	40	1.46%	9.48%	6.41%	6.65%	0.27
BOSCB.O.S. Better Online Solutions Ltd.	30.19M	4.88	12.51	-9.57%	6.78%	12.99%	2.57%	0.10
ASNSActelis Networks, Inc.	3.86M	0.48	-0.06	38.42%	-223.94%	-254.3%		0.45
FIEEFiEE, Inc.	22.22M	3.53	-2.63	-97.55%	-56.38%	-28.64%
MOBMobilicom Ltd	83.97M	7.02	-5.32	44.98%	-196.92%	-312.22%		0.06
AIOTPowerFleet, Inc.	756.11M	5.65	-13.14		-10.93%	-9.17%		0.64

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	220.94M	243.56M	219.3M	202.46M	219.5M	313.83M	262.4M	245.32M	167.29M	191.24M
Revenue Growth %	0.19%	0.1%	-0.1%	-0.08%	0.08%	0.43%	-0.16%	-0.07%	-0.32%	0.14%
Cost of Goods Sold+	161.99M	167.23M	151.96M	131.87M	155.53M	222.99M	186.47M	178.41M	131.51M	122.45M
COGS % of Revenue	0.73%	0.69%	0.69%	0.65%	0.71%	0.71%	0.71%	0.73%	0.79%	0.64%
Gross Profit+	58.95M	76.33M	67.33M	70.6M	63.97M	90.84M	75.92M	66.91M	35.78M	68.8M
Gross Margin %	0.27%	0.31%	0.31%	0.35%	0.29%	0.29%	0.29%	0.27%	0.21%	0.36%
Gross Profit Growth %	0.59%	0.29%	-0.12%	0.05%	-0.09%	0.42%	-0.16%	-0.12%	-0.47%	0.92%
Operating Expenses+	92.92M	116.75M	84.4M	72.57M	83.52M	115.98M	122.45M	124.83M	71.73M	67.08M
OpEx % of Revenue	0.42%	0.48%	0.38%	0.36%	0.38%	0.37%	0.47%	0.51%	0.43%	0.35%
Selling, General & Admin	55.35M	82.17M	59.43M	48.35M	56.24M	66.44M	66.48M	59.03M	32.48M	33.19M
SG&A % of Revenue	0.25%	0.34%	0.27%	0.24%	0.26%	0.21%	0.25%	0.24%	0.19%	0.17%
Research & Development	35.45M	30.66M	21.36M	20.59M	23.85M	44.95M	52.67M	38.29M	19.73M	20.6M
R&D % of Revenue	0.16%	0.13%	0.1%	0.1%	0.11%	0.14%	0.2%	0.16%	0.12%	0.11%
Other Operating Expenses	1.13M	414K	-4.08M	-895K	3.42M	4.58M	3.29M	27.5M	19.52M	13.29M
Operating Income+	-37.79M	-45M	-22.21M	14.01M	-19.54M	-25.13M	-46.52M	-57.92M	-35.96M	1.72M
Operating Margin %	-0.17%	-0.18%	-0.1%	0.07%	-0.09%	-0.08%	-0.18%	-0.24%	-0.21%	0.01%
Operating Income Growth %	-0.06%	-0.19%	0.51%	1.63%	-2.39%	-0.29%	-0.85%	-0.24%	0.38%	1.05%
EBITDA+	-29.47M	-30.95M	-7.94M	27.74M	-1.12M	2.81M	-21.19M	-30.71M	-17.25M	14.24M
EBITDA Margin %	-0.13%	-0.13%	-0.04%	0.14%	-0.01%	0.01%	-0.08%	-0.13%	-0.1%	0.07%
EBITDA Growth %	-0.05%	-0.05%	0.74%	4.49%	-1.04%	3.52%	-8.54%	-0.45%	0.44%	1.83%
D&A (Non-Cash Add-back)	8.32M	14.05M	14.27M	13.73M	18.43M	27.95M	25.33M	27.21M	18.71M	12.53M
EBIT	-33.97M	-44.59M	-17.06M	13.12M	-19.19M	-100.5M	-40.85M	-59.83M	-35.89M	-2.77M
Net Interest Income+	-7.16M	-15.6M	-19.33M	-20.44M	-20.38M	-9.94M	-6.87M	-8.61M	-9.07M	-10.91M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	7.16M	15.6M	19.33M	20.44M	20.38M	9.94M	6.87M	8.61M	9.07M	10.91M
Other Income/Expense	-14.32M	-15.18M	-23.41M	-21.34M	-20.03M	-85.3M	-1.2M	-10.52M	-9.02M	-15.39M
Pretax Income+	-52.11M	-60.19M	-45.63M	-7.33M	-39.57M	-110.44M	-47.72M	-68.43M	-44.97M	-13.68M
Pretax Margin %	-0.24%	-0.25%	-0.21%	-0.04%	-0.18%	-0.35%	-0.18%	-0.28%	-0.27%	-0.07%
Income Tax+	181K	381K	214K	815K	536K	748K	191K	-465K	43K	689K
Effective Tax Rate %	1%	1.01%	1%	1.1%	1.01%	1.01%	1.01%	0.99%	1.03%	-0.33%
Net Income+	-52.29M	-60.57M	-45.73M	-8.06M	-40.13M	-111.22M	-48.13M	-67.97M	-46.19M	4.57M
Net Margin %	-0.24%	-0.25%	-0.21%	-0.04%	-0.18%	-0.35%	-0.18%	-0.28%	-0.28%	0.02%
Net Income Growth %	-0.32%	-0.16%	0.24%	0.82%	-3.98%	-1.77%	0.57%	-0.41%	0.32%	1.1%
Net Income (Continuing)	-52.29M	-60.57M	-45.84M	-8.14M	-40.11M	-111.19M	-47.91M	-67.97M	-45.02M	-14.37M
Discontinued Operations	0	0	0	0	0	0	0	0	-1.17M	18.94M
Minority Interest	31K	36K	-50K	-135K	-120K	-91K	0	0	0	0
EPS (Diluted)+	-9.91	-11.24	-7.79	-1.22	-5.12	-11.87	-5.07	-6.59	-4.32	0.10
EPS Growth %	0.05%	-0.13%	0.31%	0.84%	-3.2%	-1.32%	0.57%	-0.3%	0.34%	1.02%
EPS (Basic)	-9.91	-11.24	-7.79	-1.22	-5.12	-11.87	-5.07	-6.59	-4.32	0.10
Diluted Shares Outstanding	5.28M	5.39M	5.87M	6.61M	7.83M	9.61M	10.32M	10.73M	11.37M	12.54M
Basic Shares Outstanding	5.28M	5.39M	5.87M	6.61M	7.83M	9.61M	10.32M	10.73M	11.37M	12.54M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	110.98M	68.45M	66.44M	84.35M	64.14M	114.11M	127.62M	78.36M	58.23M	72.9M
Cash & Short-Term Investments	13.84M	9.89M	21.2M	31.02M	12.07M	41.56M	49.81M	7.14M	7.52M	39.6M
Cash Only	12.57M	9.89M	21.2M	31.02M	12.07M	40.02M	49.81M	7.14M	7.52M	39.6M
Short-Term Investments	1.27M	0	0	0	0	1.54M	0	0	0	0
Accounts Receivable	35.26M	22.2M	15.67M	20.63M	19.66M	29.94M	35.8M	30.86M	26.39M	17.31M
Days Sales Outstanding	58.26	33.27	26.09	37.2	32.69	34.82	49.81	45.91	57.58	33.04
Inventory	55.84M	31.14M	20.4M	26.43M	25.29M	33.95M	37.4M	37.98M	22.88M	13.57M
Days Inventory Outstanding	125.81	67.97	49.01	73.16	59.35	55.57	73.21	77.69	63.5	40.47
Other Current Assets	6.04M	5.21M	61K	61K	0	7.39M	4.6M	1.54M	1.44M	2.42M
Total Non-Current Assets+	84.3M	90.27M	91.77M	77.9M	97.24M	113.29M	226.98M	81.59M	63.57M	27.1M
Property, Plant & Equipment	8.81M	8.39M	6.99M	6.7M	18.8M	28.9M	15.94M	16.87M	13.25M	3.96M
Fixed Asset Turnover	25.07x	29.02x	31.37x	30.23x	11.68x	10.86x	16.46x	14.54x	12.62x	48.33x
Goodwill	21.37M	34.43M	37.68M	32.94M	33.66M	32.51M	20.34M	21.92M	21.92M	3.95M
Intangible Assets	44.27M	40.28M	38.67M	31.98M	44.39M	51.49M	46.99M	41.38M	27.14M	18.75M
Long-Term Investments	6.16M	7M	7.56M	5.77M	0	0	4.58M	0	5.08M	0
Other Non-Current Assets	201K	7.17M	8.43M	6.28M	387K	388K	377K	1.42M	-3.83M	446K
Total Assets+	195.28M	158.72M	158.21M	162.26M	161.37M	227.39M	354.6M	159.95M	121.8M	100M
Asset Turnover	1.13x	1.53x	1.39x	1.25x	1.36x	1.38x	0.74x	1.53x	1.37x	1.91x
Asset Growth %	1.06%	-0.19%	-0%	0.03%	-0.01%	0.41%	0.56%	-0.55%	-0.24%	-0.18%
Total Current Liabilities+	64.21M	62.38M	59.97M	53.68M	44.53M	75.71M	74.83M	56.96M	55.91M	63.47M
Accounts Payable	35.29M	31.24M	29.33M	39.24M	26.48M	52.34M	48.58M	29.02M	24.8M	18.43M
Days Payables Outstanding	79.51	68.19	70.45	108.63	62.15	85.67	95.08	59.37	68.82	54.95
Short-Term Debt	3.31M	3.24M	3.08M	1.41M	187K	160K	3.73M	0	4.09M	14.9M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K
Other Current Liabilities	19.37M	20.93M	22.86M	8.56M	-187K	8.39M	9.36M	4.24M	15.6M	4.89M
Current Ratio	1.73x	1.10x	1.11x	1.57x	1.44x	1.51x	1.71x	1.38x	1.04x	1.15x
Quick Ratio	0.86x	0.60x	0.77x	1.08x	0.87x	1.06x	1.21x	0.71x	0.63x	0.93x
Cash Conversion Cycle	104.56	33.06	4.64	1.73	29.89	4.72	27.93	64.24	52.26	18.56
Total Non-Current Liabilities+	100.6M	114.07M	143.86M	145.1M	154.2M	179.58M	304.62M	173.1M	167.99M	49.39M
Long-Term Debt	82.46M	90.91M	128.83M	138.1M	147.87M	165.15M	157.87M	166.28M	159.91M	41.83M
Capital Lease Obligations	0	0	0	700K	0	8.28M	7.11M	5.9M	5.04M	2.63M
Deferred Tax Liabilities	3.48M	4.44M	5.26M	4.46M	3.95M	0	139.61M	323K	680K	174K
Other Non-Current Liabilities	18.14M	18.72M	9.77M	1.84M	2.38M	6.15M	37K	600K	2.36M	4.75M
Total Liabilities	164.81M	176.44M	203.82M	198.78M	198.73M	255.29M	379.45M	230.07M	223.9M	112.86M
Total Debt+	85.77M	94.15M	131.9M	139.51M	149.16M	175.21M	168.71M	173.94M	170.73M	60.71M
Net Debt	73.2M	84.25M	110.7M	108.5M	137.09M	135.19M	118.9M	166.8M	163.21M	21.11M
Debt / Equity	2.82x	-	-	-	-	-	-	-	-	-
Debt / EBITDA	-	-	-	5.03x	-	62.31x	-	-	-	4.26x
Net Debt / EBITDA	-	-	-	3.91x	-	48.08x	-	-	-	1.48x
Interest Coverage	-5.28x	-2.89x	-1.15x	0.69x	-0.96x	-2.53x	-6.77x	-6.73x	-3.96x	0.16x
Total Equity+	30.46M	-17.73M	-45.62M	-36.52M	-37.36M	-27.9M	-24.85M	-70.12M	-102.11M	-12.86M
Equity Growth %	-0%	-1.58%	-1.57%	0.2%	-0.02%	0.25%	0.11%	-1.82%	-0.46%	0.87%
Book Value per Share	5.77	-3.29	-7.77	-5.53	-4.77	-2.90	-2.41	-6.54	-8.98	-1.03
Total Shareholders' Equity	30.43M	-17.76M	-45.56M	-36.39M	-37.24M	-27.81M	-24.85M	-70.12M	-102.11M	-12.86M
Common Stock	53K	54K	59K	74K	82K	99K	105K	11K	12K	15K
Retained Earnings	-463.45M	-524.02M	-569.76M	-577.82M	-618.3M	-732.42M	-787.05M	-857.75M	-906.93M	-905.63M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-8.51M	-1.41M	4.6M	-4.88M	-3.88M	-6.97M	-8.53M	-6.33M	-5.33M	218K
Minority Interest	31K	36K	-50K	-135K	-120K	-91K	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-25.94M	-6.58M	-14.64M	-1.76M	-18M	20.05M	-25.21M	-33.29M	5.96M	33.52M
Operating CF Margin %	-0.12%	-0.03%	-0.07%	-0.01%	-0.08%	0.06%	-0.1%	-0.14%	0.04%	0.18%
Operating CF Growth %	-0.62%	0.75%	-1.22%	0.88%	-9.2%	2.11%	-2.26%	-0.32%	1.18%	4.63%
Net Income	-52.29M	-60.57M	-45.84M	-8.14M	-40.11M	-111.19M	-47.91M	-67.97M	-46.19M	4.57M
Depreciation & Amortization	8.32M	14.05M	14.27M	13.73M	18.43M	27.95M	25.33M	27.21M	18.71M	12.53M
Stock-Based Compensation	6.35M	4.59M	3.75M	4.88M	7.3M	10.42M	16.65M	17.88M	6.97M	3.82M
Deferred Taxes	106K	196K	319K	14K	-598K	659K	-53K	-570K	9K	62K
Other Non-Cash Items	17.42M	33.65M	16.98M	-3.79M	12.31M	84.09M	-3.48M	9.57M	19.02M	-1.78M
Working Capital Changes	-5.84M	1.5M	-4.12M	-8.46M	-15.33M	8.12M	-15.75M	-19.4M	7.43M	14.31M
Change in Receivables	4.76M	11.62M	5.64M	-6.88M	377K	-10.8M	-1.15M	2.44M	3.07M	4.67M
Change in Inventory	-3.96M	-3.16M	3.02M	-11.44M	-3.08M	-13.34M	-12.49M	-3.06M	4.27M	6.92M
Change in Payables	-11.19M	-7.83M	-730K	9.65M	-13M	27.09M	-3.11M	-26.31M	-802K	-6.95M
Cash from Investing+	-97.09M	5.04M	-4.38M	-4.23M	-28.21M	-34.71M	6.08M	-13.32M	-10.17M	43.03M
Capital Expenditures	-3.13M	-4.35M	-4.63M	-4.38M	-6.62M	-35.1M	-4.93M	-13.32M	-224K	-100K
CapEx % of Revenue	0.01%	0.02%	0.02%	0.02%	0.03%	0.11%	0.02%	0.05%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-7.12M	14.21M	253K	144K	-21.59M	0	-22.57M	0	-9.95M	43.13M
Cash from Financing+	118.17M	-1.29M	30.37M	17.67M	27.47M	42.08M	29.92M	5.43M	2.21M	-38.78M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.09M	-840K	-905K	19.46M	19.54M	-35.71M	3.49M	-1.57M	97K	-19.35M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-29.07M	-10.93M	-19.27M	-6.14M	-46.73M	-15.05M	-54.05M	-46.61M	-2.38M	33.42M
FCF Margin %	-0.13%	-0.04%	-0.09%	-0.03%	-0.21%	-0.05%	-0.21%	-0.19%	-0.01%	0.17%
FCF Growth %	-0.6%	0.62%	-0.76%	0.68%	-6.61%	0.68%	-2.59%	0.14%	0.95%	15.05%
FCF per Share	-5.51	-2.03	-3.28	-0.93	-5.97	-1.57	-5.23	-4.34	-0.21	2.67
FCF Conversion (FCF/Net Income)	0.50x	0.11x	0.32x	0.22x	0.45x	-0.18x	0.52x	0.49x	-0.13x	7.33x
Interest Paid	3.64M	7.14M	9.07M	10.64M	9.3M	3.21M	5.39M	5.54M	6.01M	6.25M
Taxes Paid	139K	115K	440K	672K	939K	142K	523K	168K	142K	196K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-171.4%	-951.13%	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC)	-45.85%	-39.66%	-25.32%	15.33%	-17.07%	-18.21%	-34.66%	-45.55%	-34.18%	3.71%
Gross Margin	26.68%	31.34%	30.7%	34.87%	29.14%	28.95%	28.93%	27.27%	21.39%	35.97%
Net Margin	-23.66%	-24.87%	-20.86%	-3.98%	-18.28%	-35.44%	-18.34%	-27.71%	-27.61%	2.39%
Debt / Equity	2.82x	-	-	-	-	-	-	-	-	-
Interest Coverage	-5.28x	-2.89x	-1.15x	0.69x	-0.96x	-2.53x	-6.77x	-6.73x	-3.96x	0.16x
FCF Conversion	0.50x	0.11x	0.32x	0.22x	0.45x	-0.18x	0.52x	0.49x	-0.13x	7.33x
Revenue Growth	19.27%	10.23%	-9.96%	-7.68%	8.41%	42.98%	-16.39%	-6.51%	-31.81%	14.32%

Revenue by Segment

	2012	2013	2014	2018	2019	2020	2021	2022	2023	2024
Product	-	-	-	-	-	-	-	-	135.4M	146.58M
Product Growth	-	-	-	-	-	-	-	-	-	8.26%
Mobile Solutions	-	-	-	-	-	-	-	-	80.5M	98.93M
Mobile Solutions Growth	-	-	-	-	-	-	-	-	-	22.90%
Services And Other	-	-	-	-	-	-	-	-	-	44.66M
Services And Other Growth	-	-	-	-	-	-	-	-	-	-
IoT And Mobile Solutions	-	-	-	-	-	-	217.98M	218.4M	-	-
IoT And Mobile Solutions Growth	-	-	-	-	-	-	-	0.19%	-	-
Enterprise SaaS Solutions	-	-	-	-	-	-	44.41M	26.92M	-	-
Enterprise SaaS Solutions Growth	-	-	-	-	-	-	-	-39.39%	-	-
Mobile Computing Products	312.51M	297.5M	145.5M	-	-	-	-	-	-	-
Mobile Computing Products Growth	-	-4.80%	-51.09%	-	-	-	-	-	-	-
Trade Secrets	31.78M	37.55M	39.74M	-	-	-	-	-	-	-
Trade Secrets Growth	-	18.17%	5.83%	-	-	-	-	-	-	-

Revenue by Geography

	2012	2013	2014	2018	2019	2020	2021	2022	2023	2024
United States And Canada	-	-	-	139.25M	158.76M	260.01M	215.52M	201.8M	163.49M	184.32M
United States And Canada Growth	-	-	-	-	14.01%	63.78%	-17.11%	-6.37%	-18.98%	12.74%
Europe	-	-	-	-	-	-	-	27.56M	26.1M	5.3M
Europe Growth	-	-	-	-	-	-	-	-	-5.32%	-79.70%
Other Geographic Regions	-	-	-	24.61M	25.74M	25.61M	29.55M	4.71M	118K	1.62M
Other Geographic Regions Growth	-	-	-	-	4.59%	-0.48%	15.35%	-84.05%	-97.50%	1274.58%
AUSTRALIA	-	-	-	-	-	-	-	11.25M	5.98M	-
AUSTRALIA Growth	-	-	-	-	-	-	-	-	-46.83%	-
SOUTH AFRICA	-	-	-	38.61M	35M	28.21M	17.33M	-	-	-
SOUTH AFRICA Growth	-	-	-	-	-9.34%	-19.41%	-38.55%	-	-	-

Frequently Asked Questions

Valuation & Price

Inseego Corp. (INSG) has a price-to-earnings (P/E) ratio of 116.8x. This suggests investors expect higher future growth.

Growth & Financials

Inseego Corp. (INSG) reported $165.9M in revenue for fiscal year 2024. This represents a 59% decrease from $402.9M in 2011.

Inseego Corp. (INSG) grew revenue by 14.3% over the past year. This is steady growth.

Inseego Corp. (INSG) reported a net loss of $0.2M for fiscal year 2024.

Dividend & Returns

Inseego Corp. (INSG) had negative free cash flow of $17.0M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Inseego Corp. (INSG) 10-Year Financial Performance & Capital Metrics

INSG • • Industrial / General

TechnologyCommunication EquipmentIoT & M2M CommunicationsIoT Connectivity Platforms

Revenue $191M +14.3%
EBITDA $14M +182.6%
Net Income $5M +109.9%
EPS (Diluted) 0.10 +102.3%
Gross Margin 35.97% +68.2%
EBITDA Margin 7.45% +172.2%
Operating Margin 0.9% +104.2%
Net Margin 2.39% +108.7%
ROE -
ROIC 3.71% +110.9%
Debt/Equity -
Interest Coverage 0.16 +104.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FCF machine: 17.5% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Efficient asset utilization: 1.9x turnover

✗Weaknesses

✗Shares diluted 10.2% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.32%

5Y-2.72%

3Y-10.01%

TTM-7.37%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM97.86%

EPS CAGR

10Y-

5Y-

3Y-

TTM79.19%

ROCE

10Y Avg-22.11%

5Y Avg-21.96%

3Y Avg-23.17%

Latest3.35%

Peer Comparison

IoT Connectivity Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PIImpinj, Inc.	5.17B	171.71	123.53	19.04%	-3.45%	-6.36%	2.15%	1.95
INSGInseego Corp.	179.02M	11.68	116.80	14.32%	-0.12%		18.67%
DGIIDigi International Inc.	1.62B	43.20	40	1.46%	9.48%	6.41%	6.65%	0.27
BOSCB.O.S. Better Online Solutions Ltd.	30.19M	4.88	12.51	-9.57%	6.78%	12.99%	2.57%	0.10
ASNSActelis Networks, Inc.	3.86M	0.48	-0.06	38.42%	-223.94%	-254.3%		0.45
FIEEFiEE, Inc.	22.22M	3.53	-2.63	-97.55%	-56.38%	-28.64%
MOBMobilicom Ltd	83.97M	7.02	-5.32	44.98%	-196.92%	-312.22%		0.06
AIOTPowerFleet, Inc.	756.11M	5.65	-13.14		-10.93%	-9.17%		0.64

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	220.94M	243.56M	219.3M	202.46M	219.5M	313.83M	262.4M	245.32M	167.29M	191.24M
Revenue Growth %	0.19%	0.1%	-0.1%	-0.08%	0.08%	0.43%	-0.16%	-0.07%	-0.32%	0.14%
Cost of Goods Sold+	161.99M	167.23M	151.96M	131.87M	155.53M	222.99M	186.47M	178.41M	131.51M	122.45M
COGS % of Revenue	0.73%	0.69%	0.69%	0.65%	0.71%	0.71%	0.71%	0.73%	0.79%	0.64%
Gross Profit+	58.95M	76.33M	67.33M	70.6M	63.97M	90.84M	75.92M	66.91M	35.78M	68.8M
Gross Margin %	0.27%	0.31%	0.31%	0.35%	0.29%	0.29%	0.29%	0.27%	0.21%	0.36%
Gross Profit Growth %	0.59%	0.29%	-0.12%	0.05%	-0.09%	0.42%	-0.16%	-0.12%	-0.47%	0.92%
Operating Expenses+	92.92M	116.75M	84.4M	72.57M	83.52M	115.98M	122.45M	124.83M	71.73M	67.08M
OpEx % of Revenue	0.42%	0.48%	0.38%	0.36%	0.38%	0.37%	0.47%	0.51%	0.43%	0.35%
Selling, General & Admin	55.35M	82.17M	59.43M	48.35M	56.24M	66.44M	66.48M	59.03M	32.48M	33.19M
SG&A % of Revenue	0.25%	0.34%	0.27%	0.24%	0.26%	0.21%	0.25%	0.24%	0.19%	0.17%
Research & Development	35.45M	30.66M	21.36M	20.59M	23.85M	44.95M	52.67M	38.29M	19.73M	20.6M
R&D % of Revenue	0.16%	0.13%	0.1%	0.1%	0.11%	0.14%	0.2%	0.16%	0.12%	0.11%
Other Operating Expenses	1.13M	414K	-4.08M	-895K	3.42M	4.58M	3.29M	27.5M	19.52M	13.29M
Operating Income+	-37.79M	-45M	-22.21M	14.01M	-19.54M	-25.13M	-46.52M	-57.92M	-35.96M	1.72M
Operating Margin %	-0.17%	-0.18%	-0.1%	0.07%	-0.09%	-0.08%	-0.18%	-0.24%	-0.21%	0.01%
Operating Income Growth %	-0.06%	-0.19%	0.51%	1.63%	-2.39%	-0.29%	-0.85%	-0.24%	0.38%	1.05%
EBITDA+	-29.47M	-30.95M	-7.94M	27.74M	-1.12M	2.81M	-21.19M	-30.71M	-17.25M	14.24M
EBITDA Margin %	-0.13%	-0.13%	-0.04%	0.14%	-0.01%	0.01%	-0.08%	-0.13%	-0.1%	0.07%
EBITDA Growth %	-0.05%	-0.05%	0.74%	4.49%	-1.04%	3.52%	-8.54%	-0.45%	0.44%	1.83%
D&A (Non-Cash Add-back)	8.32M	14.05M	14.27M	13.73M	18.43M	27.95M	25.33M	27.21M	18.71M	12.53M
EBIT	-33.97M	-44.59M	-17.06M	13.12M	-19.19M	-100.5M	-40.85M	-59.83M	-35.89M	-2.77M
Net Interest Income+	-7.16M	-15.6M	-19.33M	-20.44M	-20.38M	-9.94M	-6.87M	-8.61M	-9.07M	-10.91M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	7.16M	15.6M	19.33M	20.44M	20.38M	9.94M	6.87M	8.61M	9.07M	10.91M
Other Income/Expense	-14.32M	-15.18M	-23.41M	-21.34M	-20.03M	-85.3M	-1.2M	-10.52M	-9.02M	-15.39M
Pretax Income+	-52.11M	-60.19M	-45.63M	-7.33M	-39.57M	-110.44M	-47.72M	-68.43M	-44.97M	-13.68M
Pretax Margin %	-0.24%	-0.25%	-0.21%	-0.04%	-0.18%	-0.35%	-0.18%	-0.28%	-0.27%	-0.07%
Income Tax+	181K	381K	214K	815K	536K	748K	191K	-465K	43K	689K
Effective Tax Rate %	1%	1.01%	1%	1.1%	1.01%	1.01%	1.01%	0.99%	1.03%	-0.33%
Net Income+	-52.29M	-60.57M	-45.73M	-8.06M	-40.13M	-111.22M	-48.13M	-67.97M	-46.19M	4.57M
Net Margin %	-0.24%	-0.25%	-0.21%	-0.04%	-0.18%	-0.35%	-0.18%	-0.28%	-0.28%	0.02%
Net Income Growth %	-0.32%	-0.16%	0.24%	0.82%	-3.98%	-1.77%	0.57%	-0.41%	0.32%	1.1%
Net Income (Continuing)	-52.29M	-60.57M	-45.84M	-8.14M	-40.11M	-111.19M	-47.91M	-67.97M	-45.02M	-14.37M
Discontinued Operations	0	0	0	0	0	0	0	0	-1.17M	18.94M
Minority Interest	31K	36K	-50K	-135K	-120K	-91K	0	0	0	0
EPS (Diluted)+	-9.91	-11.24	-7.79	-1.22	-5.12	-11.87	-5.07	-6.59	-4.32	0.10
EPS Growth %	0.05%	-0.13%	0.31%	0.84%	-3.2%	-1.32%	0.57%	-0.3%	0.34%	1.02%
EPS (Basic)	-9.91	-11.24	-7.79	-1.22	-5.12	-11.87	-5.07	-6.59	-4.32	0.10
Diluted Shares Outstanding	5.28M	5.39M	5.87M	6.61M	7.83M	9.61M	10.32M	10.73M	11.37M	12.54M
Basic Shares Outstanding	5.28M	5.39M	5.87M	6.61M	7.83M	9.61M	10.32M	10.73M	11.37M	12.54M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	110.98M	68.45M	66.44M	84.35M	64.14M	114.11M	127.62M	78.36M	58.23M	72.9M
Cash & Short-Term Investments	13.84M	9.89M	21.2M	31.02M	12.07M	41.56M	49.81M	7.14M	7.52M	39.6M
Cash Only	12.57M	9.89M	21.2M	31.02M	12.07M	40.02M	49.81M	7.14M	7.52M	39.6M
Short-Term Investments	1.27M	0	0	0	0	1.54M	0	0	0	0
Accounts Receivable	35.26M	22.2M	15.67M	20.63M	19.66M	29.94M	35.8M	30.86M	26.39M	17.31M
Days Sales Outstanding	58.26	33.27	26.09	37.2	32.69	34.82	49.81	45.91	57.58	33.04
Inventory	55.84M	31.14M	20.4M	26.43M	25.29M	33.95M	37.4M	37.98M	22.88M	13.57M
Days Inventory Outstanding	125.81	67.97	49.01	73.16	59.35	55.57	73.21	77.69	63.5	40.47
Other Current Assets	6.04M	5.21M	61K	61K	0	7.39M	4.6M	1.54M	1.44M	2.42M
Total Non-Current Assets+	84.3M	90.27M	91.77M	77.9M	97.24M	113.29M	226.98M	81.59M	63.57M	27.1M
Property, Plant & Equipment	8.81M	8.39M	6.99M	6.7M	18.8M	28.9M	15.94M	16.87M	13.25M	3.96M
Fixed Asset Turnover	25.07x	29.02x	31.37x	30.23x	11.68x	10.86x	16.46x	14.54x	12.62x	48.33x
Goodwill	21.37M	34.43M	37.68M	32.94M	33.66M	32.51M	20.34M	21.92M	21.92M	3.95M
Intangible Assets	44.27M	40.28M	38.67M	31.98M	44.39M	51.49M	46.99M	41.38M	27.14M	18.75M
Long-Term Investments	6.16M	7M	7.56M	5.77M	0	0	4.58M	0	5.08M	0
Other Non-Current Assets	201K	7.17M	8.43M	6.28M	387K	388K	377K	1.42M	-3.83M	446K
Total Assets+	195.28M	158.72M	158.21M	162.26M	161.37M	227.39M	354.6M	159.95M	121.8M	100M
Asset Turnover	1.13x	1.53x	1.39x	1.25x	1.36x	1.38x	0.74x	1.53x	1.37x	1.91x
Asset Growth %	1.06%	-0.19%	-0%	0.03%	-0.01%	0.41%	0.56%	-0.55%	-0.24%	-0.18%
Total Current Liabilities+	64.21M	62.38M	59.97M	53.68M	44.53M	75.71M	74.83M	56.96M	55.91M	63.47M
Accounts Payable	35.29M	31.24M	29.33M	39.24M	26.48M	52.34M	48.58M	29.02M	24.8M	18.43M
Days Payables Outstanding	79.51	68.19	70.45	108.63	62.15	85.67	95.08	59.37	68.82	54.95
Short-Term Debt	3.31M	3.24M	3.08M	1.41M	187K	160K	3.73M	0	4.09M	14.9M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K
Other Current Liabilities	19.37M	20.93M	22.86M	8.56M	-187K	8.39M	9.36M	4.24M	15.6M	4.89M
Current Ratio	1.73x	1.10x	1.11x	1.57x	1.44x	1.51x	1.71x	1.38x	1.04x	1.15x
Quick Ratio	0.86x	0.60x	0.77x	1.08x	0.87x	1.06x	1.21x	0.71x	0.63x	0.93x
Cash Conversion Cycle	104.56	33.06	4.64	1.73	29.89	4.72	27.93	64.24	52.26	18.56
Total Non-Current Liabilities+	100.6M	114.07M	143.86M	145.1M	154.2M	179.58M	304.62M	173.1M	167.99M	49.39M
Long-Term Debt	82.46M	90.91M	128.83M	138.1M	147.87M	165.15M	157.87M	166.28M	159.91M	41.83M
Capital Lease Obligations	0	0	0	700K	0	8.28M	7.11M	5.9M	5.04M	2.63M
Deferred Tax Liabilities	3.48M	4.44M	5.26M	4.46M	3.95M	0	139.61M	323K	680K	174K
Other Non-Current Liabilities	18.14M	18.72M	9.77M	1.84M	2.38M	6.15M	37K	600K	2.36M	4.75M
Total Liabilities	164.81M	176.44M	203.82M	198.78M	198.73M	255.29M	379.45M	230.07M	223.9M	112.86M
Total Debt+	85.77M	94.15M	131.9M	139.51M	149.16M	175.21M	168.71M	173.94M	170.73M	60.71M
Net Debt	73.2M	84.25M	110.7M	108.5M	137.09M	135.19M	118.9M	166.8M	163.21M	21.11M
Debt / Equity	2.82x	-	-	-	-	-	-	-	-	-
Debt / EBITDA	-	-	-	5.03x	-	62.31x	-	-	-	4.26x
Net Debt / EBITDA	-	-	-	3.91x	-	48.08x	-	-	-	1.48x
Interest Coverage	-5.28x	-2.89x	-1.15x	0.69x	-0.96x	-2.53x	-6.77x	-6.73x	-3.96x	0.16x
Total Equity+	30.46M	-17.73M	-45.62M	-36.52M	-37.36M	-27.9M	-24.85M	-70.12M	-102.11M	-12.86M
Equity Growth %	-0%	-1.58%	-1.57%	0.2%	-0.02%	0.25%	0.11%	-1.82%	-0.46%	0.87%
Book Value per Share	5.77	-3.29	-7.77	-5.53	-4.77	-2.90	-2.41	-6.54	-8.98	-1.03
Total Shareholders' Equity	30.43M	-17.76M	-45.56M	-36.39M	-37.24M	-27.81M	-24.85M	-70.12M	-102.11M	-12.86M
Common Stock	53K	54K	59K	74K	82K	99K	105K	11K	12K	15K
Retained Earnings	-463.45M	-524.02M	-569.76M	-577.82M	-618.3M	-732.42M	-787.05M	-857.75M	-906.93M	-905.63M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-8.51M	-1.41M	4.6M	-4.88M	-3.88M	-6.97M	-8.53M	-6.33M	-5.33M	218K
Minority Interest	31K	36K	-50K	-135K	-120K	-91K	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-25.94M	-6.58M	-14.64M	-1.76M	-18M	20.05M	-25.21M	-33.29M	5.96M	33.52M
Operating CF Margin %	-0.12%	-0.03%	-0.07%	-0.01%	-0.08%	0.06%	-0.1%	-0.14%	0.04%	0.18%
Operating CF Growth %	-0.62%	0.75%	-1.22%	0.88%	-9.2%	2.11%	-2.26%	-0.32%	1.18%	4.63%
Net Income	-52.29M	-60.57M	-45.84M	-8.14M	-40.11M	-111.19M	-47.91M	-67.97M	-46.19M	4.57M
Depreciation & Amortization	8.32M	14.05M	14.27M	13.73M	18.43M	27.95M	25.33M	27.21M	18.71M	12.53M
Stock-Based Compensation	6.35M	4.59M	3.75M	4.88M	7.3M	10.42M	16.65M	17.88M	6.97M	3.82M
Deferred Taxes	106K	196K	319K	14K	-598K	659K	-53K	-570K	9K	62K
Other Non-Cash Items	17.42M	33.65M	16.98M	-3.79M	12.31M	84.09M	-3.48M	9.57M	19.02M	-1.78M
Working Capital Changes	-5.84M	1.5M	-4.12M	-8.46M	-15.33M	8.12M	-15.75M	-19.4M	7.43M	14.31M
Change in Receivables	4.76M	11.62M	5.64M	-6.88M	377K	-10.8M	-1.15M	2.44M	3.07M	4.67M
Change in Inventory	-3.96M	-3.16M	3.02M	-11.44M	-3.08M	-13.34M	-12.49M	-3.06M	4.27M	6.92M
Change in Payables	-11.19M	-7.83M	-730K	9.65M	-13M	27.09M	-3.11M	-26.31M	-802K	-6.95M
Cash from Investing+	-97.09M	5.04M	-4.38M	-4.23M	-28.21M	-34.71M	6.08M	-13.32M	-10.17M	43.03M
Capital Expenditures	-3.13M	-4.35M	-4.63M	-4.38M	-6.62M	-35.1M	-4.93M	-13.32M	-224K	-100K
CapEx % of Revenue	0.01%	0.02%	0.02%	0.02%	0.03%	0.11%	0.02%	0.05%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-7.12M	14.21M	253K	144K	-21.59M	0	-22.57M	0	-9.95M	43.13M
Cash from Financing+	118.17M	-1.29M	30.37M	17.67M	27.47M	42.08M	29.92M	5.43M	2.21M	-38.78M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.09M	-840K	-905K	19.46M	19.54M	-35.71M	3.49M	-1.57M	97K	-19.35M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-29.07M	-10.93M	-19.27M	-6.14M	-46.73M	-15.05M	-54.05M	-46.61M	-2.38M	33.42M
FCF Margin %	-0.13%	-0.04%	-0.09%	-0.03%	-0.21%	-0.05%	-0.21%	-0.19%	-0.01%	0.17%
FCF Growth %	-0.6%	0.62%	-0.76%	0.68%	-6.61%	0.68%	-2.59%	0.14%	0.95%	15.05%
FCF per Share	-5.51	-2.03	-3.28	-0.93	-5.97	-1.57	-5.23	-4.34	-0.21	2.67
FCF Conversion (FCF/Net Income)	0.50x	0.11x	0.32x	0.22x	0.45x	-0.18x	0.52x	0.49x	-0.13x	7.33x
Interest Paid	3.64M	7.14M	9.07M	10.64M	9.3M	3.21M	5.39M	5.54M	6.01M	6.25M
Taxes Paid	139K	115K	440K	672K	939K	142K	523K	168K	142K	196K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-171.4%	-951.13%	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC)	-45.85%	-39.66%	-25.32%	15.33%	-17.07%	-18.21%	-34.66%	-45.55%	-34.18%	3.71%
Gross Margin	26.68%	31.34%	30.7%	34.87%	29.14%	28.95%	28.93%	27.27%	21.39%	35.97%
Net Margin	-23.66%	-24.87%	-20.86%	-3.98%	-18.28%	-35.44%	-18.34%	-27.71%	-27.61%	2.39%
Debt / Equity	2.82x	-	-	-	-	-	-	-	-	-
Interest Coverage	-5.28x	-2.89x	-1.15x	0.69x	-0.96x	-2.53x	-6.77x	-6.73x	-3.96x	0.16x
FCF Conversion	0.50x	0.11x	0.32x	0.22x	0.45x	-0.18x	0.52x	0.49x	-0.13x	7.33x
Revenue Growth	19.27%	10.23%	-9.96%	-7.68%	8.41%	42.98%	-16.39%	-6.51%	-31.81%	14.32%

Revenue by Segment

	2012	2013	2014	2018	2019	2020	2021	2022	2023	2024
Product	-	-	-	-	-	-	-	-	135.4M	146.58M
Product Growth	-	-	-	-	-	-	-	-	-	8.26%
Mobile Solutions	-	-	-	-	-	-	-	-	80.5M	98.93M
Mobile Solutions Growth	-	-	-	-	-	-	-	-	-	22.90%
Services And Other	-	-	-	-	-	-	-	-	-	44.66M
Services And Other Growth	-	-	-	-	-	-	-	-	-	-
IoT And Mobile Solutions	-	-	-	-	-	-	217.98M	218.4M	-	-
IoT And Mobile Solutions Growth	-	-	-	-	-	-	-	0.19%	-	-
Enterprise SaaS Solutions	-	-	-	-	-	-	44.41M	26.92M	-	-
Enterprise SaaS Solutions Growth	-	-	-	-	-	-	-	-39.39%	-	-
Mobile Computing Products	312.51M	297.5M	145.5M	-	-	-	-	-	-	-
Mobile Computing Products Growth	-	-4.80%	-51.09%	-	-	-	-	-	-	-
Trade Secrets	31.78M	37.55M	39.74M	-	-	-	-	-	-	-
Trade Secrets Growth	-	18.17%	5.83%	-	-	-	-	-	-	-

Revenue by Geography

	2012	2013	2014	2018	2019	2020	2021	2022	2023	2024
United States And Canada	-	-	-	139.25M	158.76M	260.01M	215.52M	201.8M	163.49M	184.32M
United States And Canada Growth	-	-	-	-	14.01%	63.78%	-17.11%	-6.37%	-18.98%	12.74%
Europe	-	-	-	-	-	-	-	27.56M	26.1M	5.3M
Europe Growth	-	-	-	-	-	-	-	-	-5.32%	-79.70%
Other Geographic Regions	-	-	-	24.61M	25.74M	25.61M	29.55M	4.71M	118K	1.62M
Other Geographic Regions Growth	-	-	-	-	4.59%	-0.48%	15.35%	-84.05%	-97.50%	1274.58%
AUSTRALIA	-	-	-	-	-	-	-	11.25M	5.98M	-
AUSTRALIA Growth	-	-	-	-	-	-	-	-	-46.83%	-
SOUTH AFRICA	-	-	-	38.61M	35M	28.21M	17.33M	-	-	-
SOUTH AFRICA Growth	-	-	-	-	-9.34%	-19.41%	-38.55%	-	-	-

Frequently Asked Questions

Valuation & Price

Inseego Corp. (INSG) has a price-to-earnings (P/E) ratio of 116.8x. This suggests investors expect higher future growth.

Growth & Financials

Inseego Corp. (INSG) reported $165.9M in revenue for fiscal year 2024. This represents a 59% decrease from $402.9M in 2011.

Inseego Corp. (INSG) grew revenue by 14.3% over the past year. This is steady growth.

Inseego Corp. (INSG) reported a net loss of $0.2M for fiscal year 2024.

Dividend & Returns

Inseego Corp. (INSG) had negative free cash flow of $17.0M in fiscal year 2024, likely due to heavy capital investments.