INSEEGO CORP
For the period ended Jun 30, 2024. Filed Aug 8, 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.
Jun 30, 2024 · Filed Aug 8, 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 EndedJune 30, | Six Months EndedJune 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Mobile solutions | $25,879 | $18,895 | $41,149 | $41,935 |
| Fixed wireless access solutions | 13,317 | 19,505 | 27,499 | 31,375 |
| Product | 39,196 | 38,400 | 68,648 | 73,310 |
| Services and other | 19,953 | 15,157 | 35,510 | 31,041 |
| Total revenues | 59,149 | 53,557 | 104,158 | 104,351 |
| Cost of revenues: | ||||
| Product | 30,507 | 30,620 | 53,220 | 58,587 |
| Services and other | 5,602 | 4,041 | 10,506 | 8,681 |
| Total cost of revenues | 36,109 | 34,661 | 63,726 | 67,268 |
| Gross profit | 23,040 | 18,896 | 40,432 | 37,083 |
| Operating costs and expenses: | ||||
| Research and development | 5,486 | 6,266 | 10,529 | 10,041 |
| Sales and marketing | 5,391 | 5,787 | 10,386 | 12,253 |
| General and administrative | 5,805 | 5,431 | 10,788 | 11,155 |
| Depreciation and amortization | 4,009 | 4,688 | 7,644 | 9,997 |
| Impairment of capitalized software | — | — | 420 | 504 |
| Total operating costs and expenses | 20,691 | 22,172 | 39,767 | 43,950 |
| Operating income (loss) | 2,349 | (3,276) | 665 | (6,867) |
| Other (expense) income: | ||||
| Interest expense, net | (1,774) | (2,014) | (3,948) | (4,011) |
| Other income (expense), net | 355 | 658 | (5) | 1,453 |
| Income (Loss) before income taxes | 930 | (4,632) | (3,288) | (9,425) |
| Income tax provision | 306 | 304 | 543 | 616 |
| Net income (loss) | 624 | (4,936) | (3,831) | (10,041) |
| Preferred stock dividends | (808) | (739) | (1,598) | (1,462) |
| Net loss attributable to common stockholders | $(184) | $(5,675) | $(5,429) | $(11,503) |
| Per share data: | ||||
| Net loss per common share | ||||
| Basic and diluted (*) | $(0.02) | $(0.51) | $(0.46) | $(1.05) |
| Weighted-average shares used in computation of net loss per common share | ||||
| Basic and diluted (*) | 11,894,746 | 11,108,029 | 11,887,233 | 10,984,794 |
| Other comprehensive loss: | ||||
| Foreign currency translation adjustment | (355) | (619) | (93) | (525) |
| Comprehensive income (loss) | $269 | $(5,555) | $(3,924) | $(10,566) |
(*)Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1
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