INSEEGO CORP
For the period ended Sep 30, 2024. Filed Nov 13, 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.
Sep 30, 2024 · Filed Nov 13, 2024
INSG$4.25+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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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 EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Mobile solutions | $32,282 | $22,534 | $73,431 | $64,469 |
| Fixed wireless access solutions | 9,723 | 11,114 | 37,222 | 42,489 |
| Product | 42,005 | 33,648 | 110,653 | 106,958 |
| Services and other | 12,027 | 7,709 | 32,504 | 24,409 |
| Total revenues | 54,032 | 41,357 | 143,157 | 131,367 |
| Cost of revenues: | ||||
| Product | 33,592 | 42,788 | 86,812 | 101,375 |
| Services and other | 1,640 | 734 | 5,492 | 3,559 |
| Total cost of revenues | 35,232 | 43,522 | 92,304 | 104,934 |
| Gross profit (loss) | 18,800 | (2,165) | 50,853 | 26,433 |
| Operating costs and expenses: | ||||
| Research and development | 5,176 | 5,200 | 15,032 | 14,369 |
| Sales and marketing | 4,125 | 3,893 | 12,176 | 13,703 |
| General and administrative | 4,822 | 3,429 | 12,695 | 12,326 |
| Depreciation and amortization | 3,154 | 3,848 | 10,098 | 13,125 |
| Impairment of capitalized software | 507 | 611 | 927 | 1,115 |
| Total operating costs and expenses | 17,784 | 16,981 | 50,928 | 54,638 |
| Operating income (loss) | 1,016 | (19,146) | (75) | (28,205) |
| Other (expense) income: | ||||
| Interest expense, net | (5,731) | (2,894) | (9,686) | (6,910) |
| Loss on extinguishment of revolving credit facility | — | — | (788) | — |
| Gain on debt restructurings, net | 12,366 | — | 13,690 | — |
| Other income (expense), net | (72) | 45 | (864) | 50 |
| Income (Loss) before income taxes | 7,579 | (21,995) | 2,277 | (35,065) |
| Income tax provision | 36 | 30 | 171 | 44 |
| Income (Loss) from continuing operations | 7,543 | (22,025) | 2,106 | (35,109) |
| Income from discontinued operations (net of income tax provision (benefit) of $266, $(46), $674, and $555, respectively) | 1,426 | 220 | 3,032 | 3,263 |
| Net income (loss) | 8,969 | (21,805) | 5,138 | (31,846) |
| Preferred stock dividends | (827) | (756) | (2,425) | (2,218) |
| Net income (loss) attributable to common stockholders | $8,142 | $(22,561) | $2,713 | $(34,064) |
| Per share data: | ||||
| Net earnings (loss) per share | ||||
| Basic | ||||
| Continuing operations | $0.54 | $(1.95) | $(0.03) | $(3.33) |
| Discontinued operations | 0.12 | 0.02 | 0.25 | 0.29 |
| Basic earnings per share (*) | $0.66 | $(1.93) | $0.23 | $(3.03) |
| Diluted | ||||
| Continuing operations | $(0.16) | $(1.95) | $(0.03) | $(3.33) |
| Discontinued operations | 0.11 | 0.02 | 0.25 | 0.29 |
| Diluted earnings per share (*) | $(0.06) | $(1.93) | $0.23 | $(3.03) |
|---|---|---|---|---|
| Weighted-average shares used in computation of net earnings (loss) per share | ||||
| Basic (*) | 12,336,503 | 11,696,755 | 12,036,989 | 11,224,722 |
| Diluted (*) | 13,218,293 | 11,696,755 | 12,036,989 | 11,224,722 |
| Other comprehensive loss: | ||||
| Foreign currency translation adjustment | (1,292) | (433) | (1,385) | (958) |
| Comprehensive income (loss) | $7,677 | $(22,238) | $3,753 | $(32,804) |
(*)Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1. Rounding may affect summation.
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