Inseego Corp. · NASDAQ:INSG
Inseego — Q4 2025 Earnings Presentation
20 slides from Inseego's earnings presentation, Feb 19, 2026
Slide 1: Q4 2025 Earnings Results
Q4 2025 EARNINGS RESULTS Feb 19, 2026
Slide 2: Financial Profile | Strengthened Foundation & Improving Trajectory
Financial Profile | Strengthened Foundation & Improving Trajectory Driving Sustainable Strong Gross Revenue Growth Margin Profile Diversified Hardware Consistent Adj. & SaaS Revenue Mix EBITDA Profitability Overhauled Scalable Capital Structure Operating Model 2
Slide 3: Q4 2025 Financial Results | Beat Guidance
Q4 2025 Financial Results | Beat Guidance In the Nov 6, 2025 Q3 2025 Earnings call, the Company issued guidance for Q4 2025. On Feb 19, 2026, financial results for Q4 2025 were reported and represent a ‘beat’ on both revenue and ADJ EBITDA. Q4 2025 GUIDANCE RESULTS (Nov 6, 2025) (Feb 19, 2026) TOTAL
Slide 4: Q4 2025 Financial Results | Selected Key Highlights
Q4 2025 Financial Results | Selected Key Highlights Inseego delivered healthy sequential revenue growth (+$2.5m, +5.5%) and sustained profitability performance in Q4 2025; this was driven by increased mobile carrier promotions and FWA channel sales, and was supplemented by continued success of the C
Slide 5: Q4 2025 | Selected Business Highlights
Q4 2025 | Selected Business Highlights ✓ Announced in January that AT&T Business selected the Inseego FX4200 as part of its portfolio of fixed wireless device offerings. AT&T placed an initial stocking order in December 2025, and sales are anticipated to begin ramping in earnest in the first half of
Slide 6: Total Revenue | Return to Sequential Revenue Growth
Total Revenue | Return to Sequential Revenue Growth Q4 2025 total revenue grew sequentially by +5.5% on strong mobile growth and maintained healthy Software Services & Other contribution. 54.0 51.6 ($ millions) 48.1 48.4 12.0 45.9 12.4 40.2 SOFTWARE 37.5 12.2 12.3 SERVICES & 12.2 OTHER 31.7 12.0 8.1
Slide 7: Product Revenue | Robust FWA & Total Product Revenue Growth
Product Revenue | Robust FWA & Total Product Revenue Growth Mobile Solutions revenues grew +27.4% sequentially over Q3 2025, representing the highest quarterly sales of the year, albeit less than 2024 as anticipated on significant prior year Mobile promotional activity; FWA revenues remained above $
Slide 8: Compelling Portfolio | High-Value Software Services Contribution
Compelling Portfolio | High-Value Software Services Contribution The Company continues its successful focus on its solutions portfolio and is delivering a healthy revenue mix from high-profitability Software Services & Other offerings in addition to its Product offerings. SOFTWARE 21% 24% 22% 25% 27
Slide 9: Gross Margin | Expanding Contribution
Gross Margin | Expanding Contribution The Company has materially improved its gross margin profile through a combination of improved revenue growth and mix, favorable pricing, and overall product sourcing & operational efficiencies. 47.5% 41.8% 42.5% 41.2% 36.5% 37.4% GROSS 35.4% 34.8% MARGIN % (non
Slide 10: Operating Expense Efficiency | Driving Operations at Scale
Operating Expense Efficiency | Driving Operations at Scale Disciplined cost management has underpinned stable operating expenditures and has created a platform for economies of scale on an operating expense to revenue ratio. The Company has begun to and will continue to invest in Sales & Marketing a
Slide 11: Profitability | Meaningful Shift & Expansion in Adj EBITDA Generation
Profitability | Meaningful Shift & Expansion in Adj EBITDA Generation The Company has significantly improved and stabilized profitability since the beginning of 2024 following transformative changes and has delivered consistent double-digit Adj EBITDA margin % for the past seven quarters. 13.2% 12.5
Slide 12: Material Capital Structure Overhaul | Preferred Shares Eliminated in Jan 2026
Material Capital Structure Overhaul | Preferred Shares Eliminated in Jan 2026 The Company has meaningfully improved its capital structure through a series of restructurings, debt reductions and exchanges that have resulted in a material value accruing to common shareholders, highlighted as follows:
Slide 13: Company Guidance | Q1 and Full-Year 2026
Company Guidance | Q1 and Full-Year 2026 (ISSUED: FEB 19, 2026) On the Company’s Q4 2025 Earnings Call on Feb 19, 2026, the Company provided the following guidance for Total Revenue and Adjusted EBITDA for Q1 and the full-year 2026: Q1 2026 FULL-YEAR 2026 GUIDANCE GUIDANCE Total Revenue $33.0m - $36
Slide 14: Investment Highlights | Compelling Value to Common & Trajectory
Investment Highlights | Compelling Value to Common & Trajectory $24b TAM across the Mobile Broadband and Fixed Wireless Access markets Improved financial profile driving sustainable revenue growth, consistent profitability and cash flow generation Materially reduced debt and right-sized capital stru
Slide 15: Appendix
APPENDIX
Slide 16: Reconciliations to GAAP Financials
NON-GAAP NUMBERS Reconciliations to GAAP Financials
Slide 17: Gross Margin & OpEx | Three-Months Ended December 31, 2025
GAAP TO NON-GAAP RECONCILIATION Gross Margin & OpEx | Three-Months Ended December 31, 2025 Share-based compensation ($ thousands) GAAP expense Non-GAAP Revenues $ 48,399 $ - $ 48,399 Cost of revenues 27,985 175 27,810 Gross Margin $ 20,414 $ 20,589 Gross Margin % 42.2% 42.5% Operating
Slide 18: GAAP Income (loss) from continuing operations to Adjusted EBITDA
GAAP TO NON-GAAP RECONCILIATION GAAP Income (loss) from continuing operations to Adjusted EBITDA Three Months Ended December 31, September 30, June 30, March 31, December 31, September 30, June 30, March 31, ($ thousands) 2025 2025 2025 2025 2024 2024 2024 2024 GAAP Income (loss) from continuing op
Slide 19: Disclaimers
Disclaimers 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 Litigatio
Slide 20: www.inseego.com NASDAQ: INSG
www.inseego.com NASDAQ: INSG