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Inseego
(NASDAQ:INSG)
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Rating:42Neutral
Price Target:
$4.00
▼(-11.50% Downside)
Action:Reiterated
Date:08/06/26
The score is held down primarily by weak financial performance—losses, negative free cash flow, and persistently negative equity—alongside bearish technicals (below key moving averages with negative MACD). Valuation is relatively modest (P/E ~11), and the latest earnings call adds a mixed signal: strong Q2 execution but lowered near-term outlook and EBITDA pressure, partially offset by strategic progress and the potential (but risky) Nokia FWA acquisition.
Positive Factors
Broader Tier 1 Carrier Adoption
Refreshed products now reach all three North American Tier 1 carriers, while a new relationship is performing well. Broader carrier coverage can improve customer diversification and support recurring device refresh and FWA deployments.
Negative Factors
Persistent Negative Equity
Persistent negative equity leaves the company with limited balance-sheet resilience even after substantial debt reduction. This can restrict financing flexibility, increase dependence on operating recovery, and amplify the consequences of execution setbacks.
Read all positive and negative factors
Positive Factors
Negative Factors
Broader Tier 1 Carrier Adoption
Refreshed products now reach all three North American Tier 1 carriers, while a new relationship is performing well. Broader carrier coverage can improve customer diversification and support recurring device refresh and FWA deployments.
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
$72.25M
Dividend YieldN/A
Average Volume (3M)396.07K
Price to Earnings (P/E)28.8
Beta (1Y)2.01
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. Volume299,356
30 Day Avg. Volume396,072
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$12.50Price Target Upside176.55% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.15
Revenue Forecast (FY)$188.58M
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
Negative
4.52
Price Trends
6.95
Negative
10.47
Negative
10.84
Negative
Market Momentum
-0.82
Negative
28.42
Positive
51.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INSG, the sentiment is Negative. The current price of 4.52 is below the 20-day moving average (MA) of 4.95, below the 50-day MA of 6.95, and below the 200-day MA of 10.84, indicating a bearish trend. The MACD of -0.82 indicates Negative momentum. The RSI at 28.42 is Positive, neither overbought nor oversold. The STOCH value of 51.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | $273.96M | 19.88 | 29.34% | ― | 15.70% | 9.65% | |
67 Neutral | $240.57M | 38.61 | 4.38% | 4.18% | 2.47% | -43.89% | |
62 Neutral | $250.81M | -50.09 | -4.88% | ― | -1.65% | 64.15% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $256.03M | 103.53 | 0.95% | ― | 1.17% | 95.38% | |
57 Neutral | $189.97M | -57.34 | -1.90% | ― | -8.88% | -122.88% | |
42 Neutral | $72.25M | 28.85 | 65.39% | ― | -0.81% | -61.23% |
* Technology Sector Average
INSG
Inseego
4.18
-8.76
-67.70%
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BKTI
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Inseego Corporate Events
Executive/Board ChangesShareholder Meetings
Inseego Shareholders Approve Board, Auditor and Compensation
Positive
Jun 22, 2026
Inseego Corp. reported that on June 16, 2026, shareholders holding 11,532,761 of 16,240,613 eligible shares participated in its annual meeting, where they approved all proposals on the ballot. Stockholders elected directors James B. Avery and Jeff...
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.