INSEEGO CORP
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
INSG$4.25+0.7%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(In thousands, except share and per share data)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenues: | ||
| Mobile solutions | $15,270 | $23,040 |
| Fixed wireless access solutions | 14,182 | 11,870 |
| Product revenues | 29,452 | 34,910 |
| Services and other | 15,557 | 15,884 |
| Total revenues | 45,009 | 50,794 |
| Cost of revenues: | ||
| Product | 22,713 | 27,967 |
| Services and other | 4,904 | 4,640 |
| Total cost of revenues | 27,617 | 32,607 |
| Gross profit | 17,392 | 18,187 |
| Operating costs and expenses: | ||
| Research and development | 5,043 | 3,775 |
| Sales and marketing | 4,995 | 6,466 |
| General and administrative | 4,983 | 5,724 |
| Depreciation and amortization | 3,635 | 5,309 |
| Impairment of capitalized software | 420 | 504 |
| Total operating costs and expenses | 19,076 | 21,778 |
| Operating loss | (1,684) | (3,591) |
| Other (expense) income: | ||
| Interest expense, net | (2,174) | (1,997) |
| Other (expense) income, net | (360) | 795 |
| Loss before income taxes | (4,218) | (4,793) |
| Income tax provision | 237 | 311 |
| Net loss | (4,455) | (5,104) |
| Series E preferred stock dividends | (790) | (723) |
| Net loss attributable to common stockholders | $(5,245) | $(5,827) |
| Per share data: | ||
| Net loss per common share: | ||
| Basic and diluted (*) | $(0.44) | $(0.54) |
| Weighted-average shares used in computation of net loss per common share: | ||
| Basic and diluted (*) | 11,879,719 | 10,860,189 |
| Other comprehensive income: | ||
| Foreign currency translation adjustment | 262 | 94 |
| Comprehensive loss | $(4,193) | $(5,010) |
(*)Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1
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