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Inseego
(NASDAQ:INSG)
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Rating:44Neutral
Price Target:
$4.00
▼(-11.50% Downside)
Action:Reiterated
Date:10/02/26
INSG scores below average primarily due to weak financial quality: losses have returned, TTM cash flow has turned meaningfully negative, and the balance sheet remains pressured by persistent negative equity despite lower debt. Technicals are neutral-to-soft (negative MACD and below key long-term moving averages), while valuation is only middling with a ~30 P/E and no dividend support provided. The earnings call adds both upside (Tier 1 launches and a potentially transformational Nokia FWA acquisition) and material near-term risk (lowered full-year outlook and weak Q3 profitability guidance).
Positive Factors
Nokia FWA Acquisition
The completed Nokia FWA acquisition materially expands Inseego’s product coverage, engineering resources, geographic reach, and Tier 1 customer relationships. The transaction should enlarge the revenue base and strengthen the company’s position in fixed wireless broadband over the next several quarters.
Negative Factors
Negative Stockholders’ Equity
Persistent negative equity leaves Inseego with a weak capital structure and limited financial flexibility even after reducing absolute debt. This raises funding and leverage risk, making it harder to absorb operating setbacks or invest consistently while the business integrates new assets.
Read all positive and negative factors
Positive Factors
Negative Factors
Nokia FWA Acquisition
The completed Nokia FWA acquisition materially expands Inseego’s product coverage, engineering resources, geographic reach, and Tier 1 customer relationships. The transaction should enlarge the revenue base and strengthen the company’s position in fixed wireless broadband over the next several quarters.
Read all positive factors
Inseego Key Performance Indicators (KPIs)
Any
Revenue by Segment
Reports top-line sales for each business segment to show where growth is coming from and where risk is concentrated. Rapid shifts between segments can indicate successful diversification, dependence on a few large customers, or early scaling of new offerings like 5G fixed wireless or enterprise IoT.
Reports top-line sales for each business segment to show where growth is coming from and where risk is concentrated. Rapid shifts between segments can indicate successful diversification, dependence on a few large customers, or early scaling of new offerings like 5G fixed wireless or enterprise IoT.
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The Fly
The FlyInseego (INSG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$75.70M
Dividend YieldN/A
Average Volume (3M)298.84K
Price to Earnings (P/E)31.8
Beta (1Y)1.90
Revenue Growth-0.81%
EPS Growth-61.23%
CountryUS
Employees271
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)0.14
Shares Outstanding16,420,591
10 Day Avg. Volume473,068
30 Day Avg. Volume298,836
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)-38.42
Price to Sales (P/S)0.93
P/FCF Ratio23.78
Enterprise Value/Market Cap3.04
Enterprise Value/Revenue1.33
Enterprise Value/Gross Profit3.79
Enterprise Value/Ebitda-445.61
Forecast
1Y Price Target
$12.50Price Target Upside176.55% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.68
Revenue Forecast (FY)$154.59M
Inseego Business Overview & Revenue Model
Company Description
Inseego Corp., a global technology firm, specializes in creating and advancing a range of wireless, Industrial IoT (IIoT), and cloud-based communication systems. These offerings cater to a diverse client base, including major corporations, service...
How the Company Makes Money
Inseego makes money primarily by selling wireless connectivity hardware and related software/services, largely through telecom-carrier and channel relationships.
Key revenue streams include:
1) Product (device) revenue: The company sells 4G/5G mo...
Inseego Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Neutral
The call conveyed a mixed/transitionary picture. Near-term execution issues and product delays materially affected 2026 revenue expectations, drove a lower full-year outlook (~$155M), created margin pressure in Q2 (34% non-GAAP gross margin) and a weaker Q3 guide ($28M–$35M, adjusted EBITDA -$1M to -$2M). Offsetting those near-term headwinds, management completed expanded mobile launches across three Tier 1 carriers, achieved important Subscribe cybersecurity certification (CMMC Level 2), saw strong Q2 product momentum (Q2 revenue $44M, +28% sequential, +9% YoY), and announced a transformational Nokia FWA acquisition that is expected to more than double revenue (acquired run rate ~ $200M) and materially strengthen engineering and global customer reach. Management has concrete remedial actions (engineering leadership search, process overhaul, regional leadership hires, integration planning) but near-term risks remain while integration and execution are underway.Positive Updates
Q2 Revenue Beat and Growth
Q2 revenue of $44.0M came in above the high end of guidance, up 28% sequentially and up 9% year-over-year, driven by strong product revenue and late-quarter carrier orders tied to anticipated memory cost increases.
Negative Updates
Product Delays and Engineering Execution Issues
Accelerated product introduction pace exposed inadequate engineering processes; product delays created a revenue gap that management does not expect to fully recover in 2026. Company is searching for a new engineering leader and has overhauled development processes.
Read all updates
Q2-2026 Updates
Positive
Negative
Q2 Revenue Beat and Growth
Q2 revenue of $44.0M came in above the high end of guidance, up 28% sequentially and up 9% year-over-year, driven by strong product revenue and late-quarter carrier orders tied to anticipated memory cost increases.
Read all positive updates
Company Guidance
The company updated guidance reflecting Q2 results of $44.0M revenue (up 28% sequentially and 9% year-over-year), with product revenue $31.7M (72% of total), Mobile Solutions $17.3M (up 26% YoY), FWA $14.4M and Services & Other $12.3M (28% of total, +2% YoY); Q2 non‑GAAP gross margin was 34% (pressured by allocating higher‑cost memory to a large late‑quarter order that contributed roughly $5–$6M of incremental Q2 revenue), non‑GAAP operating expenses were $16.9M (38% of revenue), adjusted EBITDA was $0.5M (1%), cash was ~ $2M with $10M drawn on the revolver at quarter end; for Q3 the company guides revenue of $28M–$35M and adjusted EBITDA of negative $1M to negative $2M with modest gross margin improvement and product margin expected to move to the high teens, and it updated full‑year 2026 standalone revenue to approximately $155M (removing MSO upside previously in the $15–$20M range), factors including a ~ $2M per‑quarter reduction in Subscribe professional services beginning in Q3, ongoing product‑delivery timing impacts, and an anticipated close of the Nokia FWA acquisition in Q4 2026 (acquired business run rate ~ $200M).Inseego Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
28
Negative
Cash Flow
32
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 172.61M | 166.19M | 191.24M | 167.29M | 245.32M | 262.40M |
| Gross Profit | 60.81M | 62.66M | 68.80M | 35.78M | 66.91M | 75.92M |
| EBITDA | -517.00K | 13.50M | 9.76M | -17.18M | -32.62M | -15.52M |
| Net Income | -11.07M | 838.00K | 4.57M | -46.19M | -67.97M | -48.13M |
Balance Sheet | ||||||
| Total Assets | 90.39M | 93.81M | 100.00M | 121.80M | 159.95M | 354.60M |
| Cash, Cash Equivalents and Short-Term Investments | 1.88M | 24.89M | 39.60M | 7.52M | 7.14M | 49.81M |
| Total Debt | 62.67M | 48.40M | 60.71M | 170.73M | 173.94M | 168.71M |
| Total Liabilities | 120.95M | 97.85M | 112.86M | 223.90M | 230.07M | 379.45M |
| Stockholders Equity | -30.56M | -4.04M | -12.86M | -102.11M | -70.12M | -24.85M |
Cash Flow | ||||||
| Free Cash Flow | -12.10M | 6.53M | 33.42M | -2.38M | -34.77M | -54.05M |
| Operating Cash Flow | -6.93M | 7.20M | 33.52M | 5.96M | -33.29M | -25.21M |
| Investing Cash Flow | -12.97M | -8.57M | 43.03M | -10.17M | -13.32M | 6.08M |
| Financing Cash Flow | 8.61M | -13.43M | -38.78M | 2.21M | 5.43M | 29.92M |
Inseego Technical Analysis
Neutral
4.52
Price Trends
4.84
Negative
7.77
Negative
10.04
Negative
Market Momentum
-0.22
Negative
54.96
Neutral
61.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INSG, the sentiment is Neutral. The current price of 4.52 is above the 20-day moving average (MA) of 4.14, below the 50-day MA of 4.84, and below the 200-day MA of 10.04, indicating a neutral trend. The MACD of -0.22 indicates Negative momentum. The RSI at 54.96 is Neutral, neither overbought nor oversold. The STOCH value of 61.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for INSG.
Inseego Risk Analysis
Inseego disclosed 6 risk factors in its most recent earnings report. Inseego reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Inseego Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $286.36M | 20.87 | 29.34% | 4.53% | 15.70% | 9.65% | |
67 Neutral | $265.72M | 42.82 | 4.38% | 3.61% | 2.47% | -43.89% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $337.06M | -67.96 | -4.88% | ― | -1.65% | 64.15% | |
58 Neutral | $265.92M | 107.43 | 0.95% | ― | 1.17% | 95.38% | |
57 Neutral | $198.15M | -60.39 | -1.90% | ― | -8.88% | -122.88% | |
44 Neutral | $75.70M | 31.82 | 65.39% | ― | -0.81% | -61.23% |
* Technology Sector Average
INSG
Inseego
4.61
-11.93
-72.13%
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Inseego Corporate Events
Business Operations and StrategyM&A Transactions
Inseego Completes Nokia FWA Acquisition, Expands Global Reach
Positive
Oct 1, 2026
On October 1, 2026, Inseego completed the acquisition of Nokia’s Fixed Wireless Access business, a deal first announced on April 30, 2026, and entered related agreements that included issuing 1,163,693 common shares and warrants, as well as ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.