Slide 1: Q2 2025 Earnings Results
Q2 2025 EARNINGS RESULTS Aug 7, 2025
Slide 2: Inseego Financial Profile | Compelling Improvements & Trajectory
Scalable Business Model Expanding Gross Margin Consistent Profitability Generating Cash Flow Driving Sustainable Revenue Growth Diversified Hardware & SaaS Revenue Streams Divested Telematics Portfolio to Focus on Key 5 G Growth Areas Inseego Financial Profile | Compelling Improvements & Trajectory
Slide 3: Q2 2025 Financial Results | Beat Guidance
Q2 2025 RESULTS (Aug 7, 2025) GUIDANCE (May 8, 2025) $40.2m $37m - $40m TOTAL REVENUE $4.7m $2.5m - $3.5m ADJ EBITDA 11.7% 7 - 9% Implied margin 3 Q2 2025 Financial Results | Beat Guidance In the May 8, 2025 Q1 2025 Earnings call, the Company issued guidance for Q2 2025. On Aug 7, 2025, financial re
Slide 4: Q2 2025 Financial Results | Selected Key Highlights
Inseego delivered healthy sequential revenue growth (+$8.5m) and profitability expansion in Q2 2025, accelerated by the successful launch of the Company’s highly - anticipated 5G FX4100 cellular FWA router at T - Mobile. Q2 2025 Financial Highlights Include: Strong FWA revenue of $14.5m , growing +9
Slide 5: x Launched our third generation FX4100 with T - Mobile, leveraging our new Edge
x Launched our third generation FX4100 with T - Mobile, leveraging our new Edge Router OS, significantly upgraded Inseego Connect SaaS feature set, and new mesh Wi - Fi nodes. Initial sales momentum has already outpaced the adoption levels of our previous two generations, signaling strong market dem
Slide 6: Total Revenue | Return to Sequential Revenue Growth
Total Revenue | Return to Sequential Revenue Growth Q2 2025 Product revenue grew sequentially by +43% on strong FWA growth following the successful next - generation launch of the FX4100. ($ millions) 29.5 39.2 42.0 35.9 19.7 28.2 8.1 12.4 12.0 12.2 12.0 12.0 37.5 51.6 54.0 48.1 31.7 40.2 Q1 2024 Q2
Slide 7: Product Revenue | Robust FWA Revenue Profile
Product Revenue | Robust FWA Revenue Profile FWA revenues grew +9% YoY, marking the highest level of FWA revenue in the trailing 8 - quarters while total Product revenue declined on account of significant Mobile promotional activity in the prior year. ($ millions) 15.3 25.9 32.3 25.5 17.8 13.7 14.2
Slide 8: Compelling Offering Portfolio | High-Value Services Contribution
Compelling Offering Portfolio | High - Value Services Contribution Healthy revenue mix from high - profitability Services & Other offerings. 79% 76% 78% 75% 62% 70% 21% 24% 22% 25% 38% 30% Q1 2024 Q2 2024 Q3 2024 Product Revenue Mix Q4 2024 Q1 2025 Q2 2025 Services & Other Revenue Mix 8
Slide 9: Gross Margin | Expanding Contribution
35.4% 9 36.5% 34.8% 37.4% 47.5% 41.2% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Gross Margin | Expanding Contribution The Company has materially improved its gross margin profile through a combination of improved revenue mix, favorable pricing, overall operational efficiencies, and channel con
Slide 10: Operating Expense Efficiency | Improving Operations at Scale
4.5 5.1 5.0 5.3 4.3 4.6 12% 10% 9% 11% 11% Research & Development (non - GAAP) 13% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 3.7 4.2 3.7 3.8 3.8 10% 8% 7% 4.0 8% 12% 9% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Operating Expense Efficiency | Improving Operations at Scale Disciplined cost
Slide 11: Profitability | Meaningful Shift & Expansion in Adj EBITDA Generation
1.5 11 6.8 6.7 5.4 3.7 4.7 4.0% 13.2% 12.5% 11.2% 11.6% 11.7% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Profitability | Meaningful Shift & Expansion in Adj EBITDA Generation The Company has significantly improved profitability since the beginning of 2024 following transformative changes and ha
Slide 12: Successful Reduction in Debt | Convertible Notes Paid-off
Successful Reduction in Debt | Convertible Notes Paid - off May 1, 2025 • On May 1, 2025, Inseego paid - off 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 by more than $125m sin
Slide 13: Company Guidance | Q3 2025
Q3 2025 GUIDANCE $40m - $43m Total Revenue $4m - $5m Adj EBITDA 10 – 12% Implied margin 13 On the Company’s Q2 2025 Earnings Call on Aug 7, 2025, the Company provided the following guidance for Total Revenue and Adjusted EBITDA for Q3 2025: Company Guidance | Q3 2025 (ISSUED: AUG 7, 2025)
Slide 14: Inseego Investment Highlights | Compelling Trajectory
$24b TAM across the Mobile Broadband and Fixed Wireless Access markets Improved financial profile driving sustainable revenue growth, consistent profitability and cash flow generation Materially reduced debt and right - sized capital structure Unique positioning of products built to meet strict US g
Slide 15: Appendix
APPENDIX
Slide 16: Non-GAAP Numbers Reconciliations to GAAP Financials
NON - GAAP NUMBERS Reconciliations to GAAP Financials
Slide 17: Gross Margin & OpEx | Three Months Ended June 30, 2025
Gross Margin & OpEx | Three Months Ended June 30, 2025 17 Non - GAAP Impairment of Capitalized Software Share - based Compensation Expense GAAP ($ thousands) $ 40,223 $ - $ - $ 40,223 Revenues 23,653 - 55 23,708 Cost of revenues $ 16,570 $ 16,515 Gross Margin 41.2% 41.1% Gross Margin % Operating cos
Slide 18: Income to Adjusted EBITDA | Three Months Ended June 30, 2025
Income to Adjusted EBITDA | Three Months Ended June 30, 2025 18 GAAP TO NON - GAAP RECONCILIATION Three Months Ended June 30, 2025 ($ thousands) $ 507 Income from continuing operations 22 Income tax provision (benefit) 933 Interest expense, net (182) Other (income) expense, net 1,792 Depreciation an
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