Inseego Corp (INSG)
NASDAQ:INSG
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Inseego
(NASDAQ:INSG)
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Rating:55Neutral
Price Target:
$11.50
▲(0.35% Upside)
Action:ReiteratedDate:02/21/26
The score is driven primarily by improving but still inconsistent financial performance (better margins and deleveraging, offset by negative equity and earnings volatility). Earnings call guidance is constructive for 2026 with clear growth drivers, but near-term Q1 softness tempers confidence. Technical signals and valuation are less supportive, with weak trend indicators and a negative P/E.
Positive Factors
Tier‑1 Carrier Wins / Market Position
Winning designations and initial stocking with all three U.S. Tier‑1 carriers is a durable commercial advantage: it validates product performance, opens broad distribution channels, and materially improves the odds of multi‑quarter program revenue, higher order cadence, and partnership-led product bundling.
Negative Factors
Negative Shareholders' Equity
Persistently negative equity is a structural weakness: it limits access to low‑cost capital, increases vulnerability to creditor covenants, and undermines investor confidence. Even with deleveraging progress, negative equity raises refinancing risk and constrains strategic optionality over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Tier‑1 Carrier Wins / Market Position
Winning designations and initial stocking with all three U.S. Tier‑1 carriers is a durable commercial advantage: it validates product performance, opens broad distribution channels, and materially improves the odds of multi‑quarter program revenue, higher order cadence, and partnership-led product bundling.
Read all positive factors
Inseego (INSG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$185.22M
Dividend YieldN/A
Average Volume (3M)201.77K
Price to Earnings (P/E)185.4
Beta (1Y)2.41
Revenue Growth-17.45%
EPS Growth76.52%
CountryUS
Employees218
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)0.12
Shares Outstanding16,218,933
10 Day Avg. Volume174,220
30 Day Avg. Volume201,774
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 Cap1.13
Enterprise Value/Revenue1.26
Enterprise Value/Gross Profit3.33
Enterprise Value/Ebitda15.46
Forecast
1Y Price Target
$17.50Price Target Upside52.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.42
Revenue Forecast (FY)$188.54M
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 primarily makes money by selling wireless connectivity hardware—most notably 5G fixed wireless access (FWA) CPE gateways/routers and mobile hotspots—into carrier and channel/enterprise routes to market. Revenue is largely generated when pr...
Inseego Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call highlighted strong execution in 2025 with meaningful customer and product diversification, improved margins, profitable adjusted EBITDA, major Tier-1 carrier wins (now across all three U.S. carriers), expanding product portfolio and a simplified capital structure — all pointing to a constructive multi-quarter growth setup. Near-term headwinds were clearly disclosed: engineering delays, a Tier-1 carrier inventory/go-to-market disruption, front-loaded investments and memory market dynamics that are expected to depress Q1 2026 revenue and EBITDA. Management provided 2026 guidance (approx. $190M revenue) and articulated a view that the year is front-loaded on investment with growth and margin expansion expected in the back half. The positive strategic and financial developments substantially outweigh the short-term execution and timing risks discussed.Positive Updates
Revenue and Profitability Momentum in Q4 2025
Q4 2025 revenue of $48.4 million and adjusted EBITDA of $6.0 million (12.4% margin) exceeded guidance and marked the third consecutive quarter of sequential growth for both metrics.
Negative Updates
Near-Term Q1 2026 Revenue and Profitability Softness
Q1 2026 guidance of $33M–$36M revenue and $1M–$2M adjusted EBITDA implies a meaningful sequential decline from Q4 ($48.4M revenue, $6M EBITDA): roughly a 25%–32% drop in revenue and a 67%–83% drop in quarterly EBITDA vs Q4.
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue and Profitability Momentum in Q4 2025
Q4 2025 revenue of $48.4 million and adjusted EBITDA of $6.0 million (12.4% margin) exceeded guidance and marked the third consecutive quarter of sequential growth for both metrics.
Read all positive updates
Company Guidance
Management guided Q1 2026 revenue of $33.0–$36.0 million and adjusted EBITDA of $1.0–$2.0 million, noting Q1 is a transition quarter (engineering delays, customer inventory and go‑to‑market timing) with lower mobile margins partially offset by steady FWA and software services; they expect non‑GAAP operating expenses to increase modestly as >$1M of R&D spend shifted from Q4 into Q1 and sales & marketing investments ramp. For full‑year 2026 they guided total revenue of approximately $190 million (vs. 2025 revenue $166.2M), expecting revenue and EBITDA to accelerate after Q1 into Q2 (management referenced a Q2 run‑rate in the high‑$40Ms and Q3–Q4 in the $50M+ “5‑handle” range) and to exit the year at stronger, double‑digit adjusted EBITDA margins (2025 adjusted EBITDA was $20.1M, 12.1% margin; Q4 2025: revenue $48.4M, adjusted EBITDA $6.0M, 12.4% margin; non‑GAAP gross margin 43%). Balance sheet metrics highlighted: cash $24.9M, debt ~$41M (~2x LTM adjusted EBITDA), and retirement of preferred stock with a $42M liquidation preference exchanged for $26M of consideration ($10M cash, $8M notes, ~767k shares).Inseego Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
34
Negative
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 166.19M | 191.24M | 167.29M | 245.32M | 262.40M |
| Gross Profit | 62.66M | 68.80M | 35.78M | 66.91M | 75.92M |
| EBITDA | 13.50M | 9.76M | -17.18M | -32.62M | -15.52M |
| Net Income | 838.00K | 4.57M | -46.19M | -67.97M | -48.13M |
Balance Sheet | |||||
| Total Assets | 93.81M | 100.00M | 121.80M | 159.95M | 354.60M |
| Cash, Cash Equivalents and Short-Term Investments | 24.89M | 39.60M | 7.52M | 7.14M | 49.81M |
| Total Debt | 48.40M | 60.71M | 170.73M | 173.94M | 168.71M |
| Total Liabilities | 97.85M | 112.86M | 223.90M | 230.07M | 379.45M |
| Stockholders Equity | -4.04M | -12.86M | -102.11M | -70.12M | -24.85M |
Cash Flow | |||||
| Free Cash Flow | 6.53M | 33.42M | -2.38M | -46.61M | -54.05M |
| Operating Cash Flow | 7.20M | 33.52M | 5.96M | -33.29M | -25.21M |
| Investing Cash Flow | -8.57M | 43.03M | -10.17M | -13.32M | 6.08M |
| Financing Cash Flow | -13.43M | -38.78M | 2.21M | 5.43M | 29.92M |
Inseego Technical Analysis
Neutral
11.46
Price Trends
11.40
Positive
11.44
Positive
11.19
Positive
Market Momentum
0.07
Positive
48.28
Neutral
36.81
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 11.46 is below the 20-day moving average (MA) of 11.73, above the 50-day MA of 11.40, and above the 200-day MA of 11.19, indicating a neutral trend. The MACD of 0.07 indicates Positive momentum. The RSI at 48.28 is Neutral, neither overbought nor oversold. The STOCH value of 36.81 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $277.86M | 20.23 | 34.98% | ― | 10.12% | 153.04% | |
63 Neutral | $295.85M | 12.04 | 5.54% | ― | 10.89% | ― | |
62 Neutral | $190.57M | -90.22 | -1.22% | ― | -3.78% | -92.62% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | $185.22M | 185.41 | -9.51% | ― | -17.45% | 76.52% | |
55 Neutral | $223.30M | 31.48 | 4.98% | 4.28% | 0.15% | 17.21% | |
55 Neutral | $213.94M | -43.34 | -12.36% | ― | -26.85% | -93.91% |
* Technology Sector Average
INSG
Inseego
11.42
3.25
39.78%
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Inseego Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Inseego Retires Preferred Stock to Strengthen Capital Structure
Positive
Jan 14, 2026
On January 14, 2026, Inseego Corp. completed the repurchase and retirement of all of its Fixed-Rate Cumulative Perpetual Preferred Stock, Series E, which carried a $42 million liquidation preference as of December 31, 2025, by exchanging it for ap...
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.