Inseego (INSG)
NASDAQ:INSG
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Inseego
(NASDAQ:INSG)
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Rating:59Neutral
Price Target:
$15.00
▼(-1.19% Downside)
Action:Reiterated
Date:05/29/26
The score is driven primarily by improving fundamentals (profitability and positive free cash flow) and a constructive earnings-call outlook centered on the Nokia FWA acquisition and guided sequential revenue growth. These positives are offset by a weak capital structure (negative equity), bearish-to-neutral technical signals, and limited valuation support given the negative P/E and no dividend yield.
Positive Factors
Transformational Nokia FWA acquisition
The Nokia FWA asset purchase materially increases scale and product breadth, creating a pro forma revenue base roughly double current levels. Nokia’s transition support, profit‑share and non‑compete terms reduce cash strain and align incentives, giving Inseego structural access to larger carrier and global markets.
Negative Factors
Balance‑sheet fragility (negative equity)
Persistently negative equity limits financial flexibility and complicates leverage assessment, making the company more vulnerable to shocks and less able to absorb integration costs or unexpected working capital draws. Even with reduced debt, negative equity constrains strategic optionality and raises creditor scrutiny.
Read all positive and negative factors
Positive Factors
Negative Factors
Transformational Nokia FWA acquisition
The Nokia FWA asset purchase materially increases scale and product breadth, creating a pro forma revenue base roughly double current levels. Nokia’s transition support, profit‑share and non‑compete terms reduce cash strain and align incentives, giving Inseego structural access to larger carrier and global markets.
Read all positive factors
Inseego (INSG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$228.04M
Dividend YieldN/A
Average Volume (3M)384.45K
Price to Earnings (P/E)―
Beta (1Y)2.33
Revenue Growth-12.48%
EPS Growth66.68%
CountryUS
Employees218
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)0.64
Shares Outstanding16,276,707
10 Day Avg. Volume518,851
30 Day Avg. Volume384,454
Financial Highlights & Ratios
PEG Ratio-0.66
Price to Book (P/B)-38.42
Price to Sales (P/S)0.93
P/FCF Ratio23.78
Enterprise Value/Market Cap1.08
Enterprise Value/Revenue1.46
Enterprise Value/Gross Profit3.96
Enterprise Value/Ebitda25.31
Forecast
1Y Price Target
$21.25Price Target Upside39.99% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.16
Revenue Forecast (FY)$188.57M
Inseego Business Overview & Revenue Model
Company Description
Inseego 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...
How the Company Makes Money
Inseego makes money primarily by selling wireless connectivity hardware and related services/software to mobile network operators, channel partners, and enterprise/government customers. Its core revenue stream comes from product sales of 4G/5G mob...
Inseego Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call conveyed a largely positive, strategic inflection for Inseego driven by a transformational acquisition that more than doubles revenue and establishes global scale and a strategic partnership with Nokia. Operationally, the company reported modest organic growth (Q1 revenue +8% YoY), healthy margins (48.9%) and EBITDA within guidance, while reiterating a path to $190M organic revenue in 2026. Near-term challenges include FWA customer disruption, an engineering delay impacting a mobile product launch (pushing contribution into late Q2), expected margin pressure from hardware mix as product volumes ramp, and integration/execution risks tied to the Nokia deal. Overall, the highlights — especially the size and structure of the Nokia acquisition, alignment with Nokia, strengthened leadership and clear guidance for sequential revenue growth — outweigh the operational headwinds and near-term profitability compression.Positive Updates
Year-over-Year Revenue Growth
Q1 2026 revenue of $34.3M, up 8% year-over-year, driven by higher FWA volumes and steady software services contribution.
Negative Updates
FWA Customer Disruption
A large FWA customer overhauled its executive team and changed its enterprise go-to-market approach, creating disruption and a sequential FWA revenue decline from Q4 2025 to Q1 2026; company is working on realignment with that customer.
Read all updates
Q1-2026 Updates
Positive
Negative
Year-over-Year Revenue Growth
Q1 2026 revenue of $34.3M, up 8% year-over-year, driven by higher FWA volumes and steady software services contribution.
Read all positive updates
Company Guidance
Management guided Q2 revenue of $36.5M–$43.5M (about a 12% sequential increase from Q1's $34.3M) and Q2 adjusted EBITDA of $0.25M–$2.0M (expected to be lower sequentially vs. Q1), with software services revenue remaining ~ $12M; Q1 results were revenue $34.3M (up 8% YoY) composed of mobile $16.7M, FWA $5.3M and software $12.3M, non‑GAAP gross margin 48.9% (up ~640 bps sequentially), non‑GAAP operating expenses $16.9M and adjusted EBITDA $1.8M (5.1% of revenue), cash $19M and debt ≈ $49M, and management reiterated a full‑year organic revenue path to ~$190M; they also noted the third new mobile hotspot launch is delayed into late June (limiting Q2 benefit). Separately, the announced Nokia FWA asset purchase (expected close Q4 2026) would add roughly a $200M revenue run‑rate for aggregate consideration of $20M ( $15M stock + $5M warrants), includes quarterly transition support to keep the acquired business EBITDA‑breakeven in year one (make‑whole capped at $38M) and a year‑2/3 profit‑share where Nokia can receive 0–50% of positive EBITDA based on revenue performance.Inseego Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
33
Negative
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 168.85M | 166.19M | 191.24M | 167.29M | 245.32M | 262.40M |
| Gross Profit | 62.48M | 62.66M | 68.80M | 35.78M | 66.91M | 75.92M |
| EBITDA | 9.77M | 13.50M | 9.76M | -17.18M | -32.62M | -15.52M |
| Net Income | -2.13M | 838.00K | 4.57M | -46.19M | -67.97M | -48.13M |
Balance Sheet | ||||||
| Total Assets | 84.16M | 93.81M | 100.00M | 121.80M | 159.95M | 354.60M |
| Cash, Cash Equivalents and Short-Term Investments | 19.30M | 24.89M | 39.60M | 7.52M | 7.14M | 49.81M |
| Total Debt | 53.06M | 48.40M | 60.71M | 170.73M | 173.94M | 168.71M |
| Total Liabilities | 109.57M | 97.85M | 112.86M | 223.90M | 230.07M | 379.45M |
| Stockholders Equity | -25.41M | -4.04M | -12.86M | -102.11M | -70.12M | -24.85M |
Cash Flow | ||||||
| Free Cash Flow | 11.62M | 6.53M | 33.42M | -2.38M | -46.61M | -54.05M |
| Operating Cash Flow | 12.38M | 7.20M | 33.52M | 5.96M | -33.29M | -25.21M |
| Investing Cash Flow | -11.50M | -8.57M | 43.03M | -10.17M | -13.32M | 6.08M |
| Financing Cash Flow | -16.81M | -13.43M | -38.78M | 2.21M | 5.43M | 29.92M |
Inseego Technical Analysis
Negative
15.18
Price Trends
14.17
Negative
12.78
Negative
12.77
Negative
Market Momentum
-0.49
Positive
37.22
Neutral
48.81
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 15.18 is above the 20-day moving average (MA) of 13.52, above the 50-day MA of 14.17, and above the 200-day MA of 12.77, indicating a bearish trend. The MACD of -0.49 indicates Positive momentum. The RSI at 37.22 is Neutral, neither overbought nor oversold. The STOCH value of 48.81 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $310.77M | 21.13 | 33.31% | ― | 14.16% | 38.26% | |
65 Neutral | $296.64M | -39.57 | -8.79% | ― | -17.17% | 23.08% | |
64 Neutral | $287.65M | -105.76 | -1.43% | ― | -15.03% | -110.33% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $257.80M | 36.91 | 4.01% | 4.28% | 2.02% | -56.43% | |
59 Neutral | $228.04M | ― | 17.85% | ― | -12.48% | 66.68% | |
56 Neutral | $225.41M | 27.74 | 3.37% | ― | 0.23% | ― |
* Technology Sector Average
INSG
Inseego
11.42
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49.09%
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Inseego Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Inseego to Acquire Nokia’s Fixed Wireless Access Business
Positive
Apr 30, 2026
On April 30, 2026, Inseego agreed to acquire substantially all of Nokia’s fixed wireless access customer premises equipment business, a transaction expected to approximately double Inseego’s revenue and expand its global footprint in w...
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.