Inseego Reports Third Quarter 2026 Financial Results
INSEEGO CORP. (INSG) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Inseego Reports Third Quarter 2026 Financial Results Q3 2026 revenue of $33.3 million Q3 2026 Adjusted EBITDA* of Negative $1.0 million and GAAP Net Loss of $8.1 million Announced completion of the acquisition of Nokia’s Fixed Wireless Access Business (“FastMile”) on
How this was made
The 30-second read
Why it matters
The acquisition doubles expected revenue and introduces new product lines, but integration costs may pressure near‑term profitability.
Market read
The filing offers fresh guidance for a micro‑cap telecom equipment provider, presenting a modest trading opportunity ahead of its Q4 results.
What to watch
Potential supply chain constraints and competition from larger carriers could limit revenue upside.
Q3 2026 revenue of $33.3 million; Adjusted EBITDA of Negative $1.0 million; GAAP Net Loss of $8.1 million; FastMile acquisition completed on October 1st.
Q3 legacy-business revenue, gross margin, operating income, GAAP net income, non-GAAP net income and Adjusted EBITDA were lower than the prior-year quarter, while the company reported a cash balance of $6,611 (in thousands) and total liabilities of $131,271 (in thousands).
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q3 2026 total revenuesGAAP | $33.26M | – | – |
| Nine months ended September 30, 2026 total revenuesGAAP | $111.6M | – | – |
| Q3 2026 total cost of revenuesGAAP | $22.18M | – | – |
| Nine months ended September 30, 2026 total cost of revenuesGAAP | $69.06M | – | – |
| Q3 2026 gross profitGAAP | $11.09M | – | – |
| Nine months ended September 30, 2026 gross profitGAAP | $42.53M | – | – |
| Q3 2026 gross marginGAAP | 33.3% | – | – |
| Q3 2026 research and development expenseGAAP | $5.11M | – | – |
| Q3 2026 sales and marketing expenseGAAP | $4.56M | – | – |
| Q3 2026 general and administrative expenseGAAP | $6.16M | – | – |
| Q3 2026 depreciation and amortization expenseGAAP | $2.42M | – | – |
| Q3 2026 total operating costs and expensesGAAP | $18.26M | – | – |
| Q3 2026 operating income (loss)GAAP | −$7.17M | – | – |
| Nine months ended September 30, 2026 operating income (loss)GAAP | −$17.98M | – | – |
| Q3 2026 interest expenseGAAP | −$918K | – | – |
| Q3 2026 income (loss) before income taxesGAAP | −$8.06M | – | – |
| Q3 2026 net income (loss)GAAP | −$8.10M | – | – |
| Nine months ended September 30, 2026 net income (loss)GAAP | −$21.08M | – | – |
| Q3 2026 net income (loss) attributable to common stockholdersGAAP | −$8.10M | – | – |
| Q3 2026 diluted earnings (loss) per shareGAAP | $ (0.49 ) | – | – |
| Nine months ended September 30, 2026 diluted earnings (loss) per shareGAAP | $ (0.37 ) | – | – |
| Q3 2026 non-GAAP net income (loss)non-GAAP | −$4.40M | – | – |
| Q3 2026 non-GAAP net income (loss) per diluted sharenon-GAAP | $ (0.27 ) | – | – |
| Q3 2026 Adjusted EBITDAnon-GAAP | −$1.01M | – | – |
| Nine months ended September 30, 2026 net cash used in operating activitiesGAAP | −$9.19M | – | – |
| Nine months ended September 30, 2026 net cash used in investing activitiesGAAP | −$10.63M | – | – |
| Nine months ended September 30, 2026 purchases of property, plant and equipmentGAAP | −$549K | – | – |
| Nine months ended September 30, 2026 additions to capitalized software development costs and purchases of intangible assetsGAAP | −$10.08M | – | – |
| Nine months ended September 30, 2026 net cash provided by (used in) financing activitiesGAAP | $1.67M | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Q3 2026 Mobile solutionsMobile solutions revenue was reported within product revenue. | $19.1M | – | – |
| Q3 2026 Fixed wireless access solutionsFixed wireless access solutions revenue was reported within product revenue. | $4.18M | – | – |
| Q3 2026 ProductProduct revenue comprised mobile solutions and fixed wireless access solutions. | $23.28M | – | – |
| Q3 2026 Software services and otherSoftware services and other was separately reported. | $9.98M | – | – |
| Q2 2026 Acquired FastMile revenueIllustrative historical information derived from carve-out statements of revenues and direct expenses of Nokia’s FWA business. | $42.62M | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Q4 2026 outlook
- RevenueQ4 2026 total revenue in the range of $56 million to $65 million
- NoteInseego North America revenue in the range of $21 million - $25 million.
- NoteAcquired FastMile revenue in the range of $35 million - $40 million.
- NoteQ4 2026 Adjusted EBITDA in the range of $0 million to $2 million.
- NoteAnticipated Q4 2026 Adjusted EBITDA includes the impact of support payments from Nokia under the acquisition agreement in the range of $12 million to $14 million.
What drove it
- The FastMile acquisition was completed on October 1st, and acquired-business results will be included in consolidated results beginning in the 4th quarter of 2026.
- The company was selected by a Tier-1 Carrier to provide a ruggedized, high-powered premium-tier MiFi, with shipments expected to begin in mid-2027.
- Inseego introduced intelligent multi-WAN control software for its SD-WAN appliance portfolio.
- The company achieved CMMC Certification for Inseego Subscribe.
- The company reduced headcount and contractor spend in October 2026, anticipated to reduce spend by $8m annually.
- Approximately 250 people associated with the acquired business support the expanded global operations across engineering, product management, supply chain and sourcing, and customer support.
Concerns
- Q3 2026 total revenues were $ 33,263 (In thousands), compared with $ 45,893 (In thousands) in Q3 2025.
- Q3 2026 operating income (loss) was $ (7,173 ) (In thousands), compared with $ 2,155 (In thousands) in Q3 2025.
- Q3 2026 Adjusted EBITDA was $ (1,012 ) (In thousands), compared with $ 5,751 (In thousands) in Q3 2025.
- Cash and cash equivalents were $ 6,611 (In thousands) at September 30, 2026.
- The company cited engineering and product delivery issues and stated that it is restructuring the engineering function.
- The FastMile acquisition carries integration, customer and employee retention, growth-management, cost-savings and management-time risks described in the release.
What to watch
- Inclusion of FastMile results in consolidated results beginning in the 4th quarter of 2026.
- Q4 2026 total revenue guidance of $56 million to $65 million, including Inseego North America revenue of $21 million - $25 million and Acquired FastMile revenue of $35 million - $40 million.
- Q4 2026 Adjusted EBITDA guidance of $0 million to $2 million, including Nokia support payments in the range of $12 million to $14 million.
- Execution of the engineering restructuring and integration of FastMile with Inseego North America into one global company.
- Mid-2027 commencement of expected shipments for the Tier-1 Carrier premium-tier MiFi program.
Balance sheet and cash flow
- Cash and cash equivalents were $ 6,611 (In thousands) as of September 30, 2026, versus $ 24,886 (In thousands) as of December 31, 2025.
- Accounts receivable, net were $ 26,865 (In thousands) as of September 30, 2026, versus $ 25,086 (In thousands) as of December 31, 2025.
- Inventories were $ 20,513 (In thousands) as of September 30, 2026, versus $ 7,726 (In thousands) as of December 31, 2025.
- Working Capital Facility was $ 7,642 (In thousands) as of September 30, 2026.
- 2029 Senior Secured Notes, net were $ 50,166 (In thousands) as of September 30, 2026, versus $ 41,611 (In thousands) as of December 31, 2025.
- Total liabilities were $ 131,271 (In thousands) as of September 30, 2026, versus $ 97,851 (In thousands) as of December 31, 2025.
- Total stockholders’ deficit was $ (36,576 ) (In thousands) as of September 30, 2026, versus $ (4,044 ) (In thousands) as of December 31, 2025.
- Nine-month net decrease in cash and cash equivalents was $ (18,275 ) (In thousands), versus $ (25,037 ) (In thousands) in the prior-year period.
Analysis
Inseego reported Q3 2026 results for its legacy business, Inseego North America, before the inclusion of the acquired FastMile business. Total revenues were $ 33,263 (In thousands), compared with $ 45,893 (In thousands) in Q3 2025. Gross profit was $ 11,086 (In thousands), compared with $ 19,084 (In thousands), and GAAP gross margin was 33.3%. Product revenue was $ 23,280 (In thousands), including $ 19,100 (In thousands) from mobile solutions and $ 4,180 (In thousands) from fixed wireless access solutions, while software services and other revenue was $ 9,983 (In thousands).
Profitability weakened materially from the prior-year quarter. Operating income (loss) was $ (7,173 ) (In thousands), versus $ 2,155 (In thousands), and GAAP net income (loss) was $ (8,103 ) (In thousands), versus $ 1,432 (In thousands). Diluted earnings (loss) per share was $ (0.49 ), compared with $ 0.03. Non-GAAP net income (loss) was $ (4,401 ) (In thousands), while Adjusted EBITDA was $ (1,012 ) (In thousands), compared with $ 5,751 (In thousands) in Q3 2025 and $ 521 (In thousands) in Q2 2026. Management said the legacy business delivered revenue and Adjusted EBITDA within its guided range, while identifying engineering and product delivery issues and actions to restructure engineering.
Cash flow and the balance sheet warrant attention. Net cash used in operating activities for the nine months ended September 30, 2026 was $ (9,188 ) (In thousands), and net cash used in investing activities was $ (10,633 ) (In thousands), including $ (10,084 ) (In thousands) for additions to capitalized software development costs and purchases of intangible assets. Cash and cash equivalents were $ 6,611 (In thousands) at September 30, 2026. Total liabilities were $ 131,271 (In thousands), including $ 7,642 (In thousands) of Working Capital Facility and $ 50,166 (In thousands) of 2029 Senior Secured Notes, net. Total stockholders’ deficit was $ (36,576 ) (In thousands).
The October 1st completion of the FastMile acquisition is the principal change entering Q4. The release states the acquired operation will be consolidated beginning in the 4th quarter and that the acquisition is expected to approximately double Inseego’s revenue. Q4 guidance is total revenue of $56 million to $65 million, made up of $21 million - $25 million from Inseego North America and $35 million - $40 million from FastMile. Adjusted EBITDA is guided to $0 million to $2 million, with anticipated Nokia support payments of $12 million to $14 million included in that measure. Execution of the integration, the contribution from FastMile and the effect of cost reductions initiated in October are the central reported variables for the next quarter.
Management, verbatim
Inseego North America, representing our legacy business, delivered Q3 revenue and adjusted EBITDA within our guided range, but we need to continue to improve our performance.
Juho Sarvikas, CEO of Inseego
Our focus now is on ensuring execution in the short-term while we integrate the FastMile business with Inseego North America to operate as one global company.
Juho Sarvikas, CEO of Inseego
We have reduced headcount and spend in Q4, which will help move us toward a return to profitability as we look to drive revenue growth throughout the portfolio.
Steven Gatoff, CFO of Inseego
Not in the filing
stated, not guessed- Previous-period outlook was not provided, so no comparison of actual results with prior guidance is available.
- Free cash flow was not reported.
- Q3 2026 operating cash flow was not reported.
- Q3 2026 free cash flow was not reported.
- Share repurchases and dividends were not reported.
- Q4 2026 gross margin, operating expenses and tax-rate guidance were not reported.
- Percentage changes for revenue, segments, gross profit, operating income, net income, EPS and cash flow were not printed on their respective rows.
- Q3 2026 segment revenue comparisons with the prior-year quarter and prior quarter were not printed on the respective segment rows.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Inseego (NASDAQ: INSG) disclosed its Q3 2026 financials via an SEC 8‑K filing, highlighted a recent acquisition of Nokia's Fixed Wireless Access business, and provided Q4 2026 guidance.
Ticker impact
Inseego reported Q3 2026 results and issued updated guidance for Q4 2026, including revenue and adjusted EBITDA ranges.
potential modest upside as investors price in higher revenue and EBITDA guidance
Guidance updates are fresh and material for a micro‑cap; the range suggests improvement but lacks a dramatic surprise, so impact is limited.
Market effects
May boost sentiment in the wireless broadband and fixed wireless access sector as Inseego expands globally.
Limited to U.S. and European markets where Inseego operates.
Low; impact confined to niche telecom equipment space.
Counterpoint
Guidance could be overly optimistic given integration risks of the FastMile acquisition.
Key entities
- partnerNokia
Seller of the FastMile Fixed Wireless Access business.
- executiveJuho Sarvikas
CEO of Inseego who commented on the acquisition.
