Record Gross Margin Achievement
Q1 2025 non-GAAP gross margin percentage increased to a record 47.5%, driven by sequential margin expansion in both product and services and a favorable revenue mix.
Successful 5G Advanced Data Call
Inseego was the first OEM to make a 5G Advanced 3GPP Release 18 data call with the new Qualcomm Dragonwing Gen 4 Elite FWA platform, showcasing engineering capabilities and strong partnership with Qualcomm.
Increase in Mobile Revenue
Mobile revenue grew more than 16% year-over-year, even with a late start to a larger carrier customer's promotion.
Significant Debt Reduction
The company completed a meaningful reduction of total debt by paying off $15 million on convertible notes, reducing total debt to $41 million.
Growth in Services Revenue
Services revenue grew nearly 50% year-over-year, driven by the strength of the Inseego Subscribe SaaS platform.