INSEEGO CORP

For the period ended Mar 31, 2024. Filed May 10, 2024.

About this filing

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$4.22+8.9%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Item 1. Financial Statements

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except par value and share data)

	March 31,2024	December 31,2023
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$12,297	$7,519
Accounts receivable, net of allowance for expected credit losses of $1,060 and $1,113, respectively	23,476	22,616
Inventories	20,797	22,880
Prepaid expenses and other	6,526	5,211
Total current assets	63,096	58,226
Property, plant and equipment, net of accumulated depreciation of $29,427 and $28,920, respectively	2,287	2,758
Rental assets, net of accumulated depreciation of $7,859 and $7,003, respectively	4,916	5,083
Intangible assets, net of accumulated amortization of $42,770 and $39,987, respectively	24,281	27,140
Goodwill	21,922	21,922
Operating lease right-of-use assets	5,182	5,412
Other assets	384	1,256
Total assets	$122,068	$121,797
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Accounts payable	$24,013	$24,795
Accrued expenses and other current liabilities	30,805	27,022
Revolving credit facility	4,677	4,094
Total current liabilities	59,495	55,911
Long-term liabilities:
2025 Notes, net	160,284	159,912
Operating lease liabilities	4,771	5,039
Deferred tax liabilities, net	675	680
Other long-term liabilities	2,432	2,360
Total liabilities	227,657	223,902
Commitments and contingencies (Note 9)
Stockholders’ deficit:
Preferred stock, par value $0.001; 2,000,000 shares authorized:
Series E Preferred stock, par value $0.001; 39,500 shares designated, 25,000 shares issued and outstanding as of March 31, 2024 and December 31, 2023 (aggregate liquidation preference of $35,913,326)	—	—
Common stock, par value $0.001; 150,000,000 shares authorized, 11,882,844 and 11,878,557 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	12	12
Additional paid-in capital	811,637	810,138
Accumulated other comprehensive loss	(5,065)	(5,327)
Accumulated deficit	(912,173)	(906,928)
Total stockholders’ deficit	(105,589)	(102,105)
Total liabilities and stockholders’ deficit	$122,068	$121,797

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.