Inseego reports Q3 EPS (6c), consensus 11c

Reports Q3 revenue $54.03M, consensus $56.3M. “The third quarter had several positive, and meaningfully transformative events for Inseego (INSG), operationally, strategically and financially,” said Phil Brace, executive chairman of Inseego. “The closing of our convertible note restructuring and the announced sale of our Telematics business have allowed us to deliver on our commitment to improve the company’s capital structure. In addition, our operating results in the quarter were the best they have been in several years. Our focus now is on addressing our 5G pipeline and continuing the trajectory as we develop new products and look to drive long-term growth.”