Inseego Corp. · NASDAQ:INSG
Inseego — Q1 2025 Earnings Presentation
20 slides from Inseego's earnings presentation, May 8, 2025
Slide 1: Q1 2025 Earnings Results
Q1 2025 EARNINGS RESULTS May 8, 2025
Slide 2: New CEO Juho Sarvikas | Leadership Rooted in Wireless Innovation
New CEO Juho Sarvikas | Leadership Rooted in Wireless Innovation In January 2025, Juho Sarvikas, the former President of Qualcomm North America joined Inseego as CEO and Board Member. x Proven Leadership in Wireless Technology – As CEO, Juho Sarvikas brings a strategic vision focused on leveraging e
Slide 3: Inseego Financial Profile | Compelling Improvements & Trajectory
Scalable Business Model Healthy Total Gross Margin Profile Return to Profitability Generating Free Cash Flow Return to Revenue Growth Diversified Hardware & SaaS Revenue Streams Divested Telematics Portfolio to Focus on Key 5 G Growth Areas Inseego Financial Profile | Compelling Improvements & Traje
Slide 4: Q1 2025 Financial Results | Strong Profitability Management
Q1 2025 RESULTS (May 8, 2025) GUIDANCE (Feb 19, 2025) $31.7m $3.7m $30m - $33m $2.0m - $3.0m TOTAL REVENUE ADJ EBITDA 11.6% 7 - 9% Implied margin 4 Q1 2025 Financial Results | Strong Profitability Management
Slide 5: Q1 2025 Financial Results | Selected Key Highlights
Despite a slower start to the year in FWA, Inseego delivered growth in Mobile Hotspot and Services Revenue and year - over - year profitability expansion in Q1 2025, reflecting the strong management across the business as the Company lays the foundation for growth. Q1 2025 Financial Highlights Inclu
Slide 6: Q1 2025 | Selected Business Highlights
x Appointed Juho Sarvikas, Former President of Qualcomm North America, as Chief Executive Officer and member of the Board of Directors x Made the world’s first live 5G Advanced 3GPP Release 18 data call with the new Qualcomm Dragonwing platform at Mobile World Congress Barcelona. x Launched Next - G
Slide 7: Total Revenue | Robust SaaS Revenue Profile
Total Revenue | Robust SaaS Revenue Profile Q1 2025 Services & Other revenue grew 49% YoY, while total revenue declined by 16% on account of short - term headwinds in the FWA product. 29.5 39.2 42.0 35.9 19.7 8.1 12.4 12.0 12.2 12.0 37.5 51.6 54.0 48.1 31.7 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Pr
Slide 8: Compelling Portfolio | Increasing High-Value Services Contribution
79% 76% 78% 75% 62% 21% 24% 22% 25% 38% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Product Revenue Mix Services & Other Revenue Mix 8 Compelling Portfolio | Increasing High - Value Services Contribution Revenue mix continues to shift to higher - profitability Services & Other offerings.
Slide 9: Gross Margin | Expanding Contribution
35.4% 9 36.5% 34.8% 37.4% 47.5% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Gross Margin | Expanding Contribution The Company has materially improved its gross margins through a combination of improved pricing, operational efficiencies, and new channel distribution. Q1 2025 gross margin is a consequence
Slide 10: Operating Expense Efficiency | Improving Operations at Scale
3.7 4.2 3.7 3.8 10% 8% 7% 4.0 8% 12% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Operating Expense Efficiency | Improving Operations at Scale Disciplined cost management is underlying stable dollar operating expenditures and has created a platform for economies of scale on an operating expense / revenue
Slide 11: Profitability | Meaningful Shift and Expansion in Adj EBITDA Generation
1.5 11 6.8 6.7 5.4 3.7 4.0% 13.2% 12.5% 11.2% 11.6% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Profitability | Meaningful Shift and Expansion in Adj EBITDA Generation The Company has significantly improved profitability since Q1 2024 following transformative changes and has delivered consistent double
Slide 12: Successful Reduction in Debt | Convertible Notes Fully Repaid May 1, 2025
Successful Reduction in Debt | Convertible Notes Fully Repaid May 1, 2025 TOTAL DEBT OUTSTANDING • On May 1, 2025, Inseego repaid the remaining $15m stub outstanding on the Company's convertible notes. • Including debt restructurings that occurred in 2024, the Company has lowered its debt position b
Slide 13: Company Guidance | Q2 2025
Q2 2025 GUIDANCE $37m - $40m $2.5m - $3.5m Revenue Adj EBITDA 7 – 9% Implied margin 13 On the Company’s May 8, 2025 Earnings Call, management provided the following guidance for Total Revenue and Adjusted EBITDA from Continuing Operations for Q2 2025: Company Guidance | Q2 2025 (ISSUED: MAY 8, 2025)
Slide 14: Inseego Investment Highlights | Compelling Trajectory
$24b TAM across the Mobile Broadband and Fixed Wireless Access markets Improved financial profile with return to revenue growth, profitability and free cash flow generation Eliminated convertible overhang, reduced debt and right - sized capital structure Unique positioning of products built to meet
Slide 15: Appendix
APPENDIX
Slide 16: Reconciliations to GAAP Financials
Reconciliations to GAAP Financials NON - GAAP NUMBERS
Slide 17: Continuing Operations Gross Margin & OpEx | GAAP to Non-GAAP Reconciliation
Continuing Operations Gross Margin & OpEx | Three Months Ended March 31, 2025 ($ thousands) Revenues Cost of revenues Gross Margin Gross Margin % 3,355 1,748 - 316 - - 1,135 - 4,490 2,064 General and administrative Depreciation and amortization - - 384 - 384 Impairment of cap software $ 13,158 $ 316
Slide 18: Income (Loss) From Continuing Operations to Adjusted EBITDA
Income (Loss) From Continuing Operations to Adjusted EBITDA | 2025 GAAP TO NON - GAAP RECONCILIATION $ (1,170) Income (loss) from continuing operations 23 Income tax provision (benefit) 1,026 Interest expense, net (303) Other (income) expense, net 2,098 Depreciation and amortization 1,601 Share - ba
Slide 19: Safe Harbor Statement
Safe Harbor Statement This presentation contains statements about expected future events that are forward - looking and subject to risks and uncertainties. For these statements, we claim the safe harbor for “forward - looking statements” within the meaning of the Private Securities Litigation Reform
Slide 20: www.inseego.com
www.inseego.com NASDAQ: INSG