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$4.22+8.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except par value and share data)
| September 30,2024 | December 31,2023 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $11,972 | $2,409 |
| Accounts receivable, net of allowance for expected credit losses of $130 and $617, respectively | 15,612 | 18,202 |
| Inventories | 18,118 | 20,555 |
| Prepaid expenses and other | 3,627 | 4,937 |
| Current assets held for sale | 35,771 | 12,123 |
| Total current assets | 85,100 | 58,226 |
| Property, plant and equipment, net of accumulated depreciation of $28,629 and $27,513, respectively | 1,303 | 2,389 |
| Intangible assets, net of accumulated amortization of $33,130 and $31,444, respectively | 19,465 | 25,718 |
| Goodwill | 3,949 | 3,949 |
| Operating lease right-of-use assets | 3,117 | 4,022 |
| Other assets | 456 | 1,256 |
| Non-current assets held for sale | — | 26,237 |
| Total assets | $113,390 | $121,797 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
| Current liabilities: | ||
| Accounts payable | $35,457 | $23,408 |
| Accrued expenses and other current liabilities | 31,147 | 21,049 |
| Short-term loan | 6,000 | — |
| 2025 Convertible Notes, net | 106,250 | — |
| Revolving credit facility | — | 4,094 |
| Current liabilities held for sale | 10,000 | 7,360 |
| Total current liabilities | 188,854 | 55,911 |
| Long-term liabilities: | ||
| 2025 Convertible Notes, net | — | 159,912 |
| Operating lease liabilities | 2,979 | 3,972 |
| Deferred tax liabilities, net | 121 | 112 |
| Other long-term liabilities | 6,499 | 2,351 |
| Non-current liabilities held for sale | — | 1,644 |
| Total liabilities | 198,453 | 223,902 |
| Commitments and contingencies (Note 10) | ||
| Stockholders’ deficit: | ||
| Preferred stock, par value $0.001; 2,000,000 shares authorized: | ||
| Preferred stock, par value $0.001; 39,500 shares designated, 25,000 shares issued and outstanding as of both September 30, 2024 and December 31, 2023 (aggregate liquidation preference of $37,547,619) | — | — |
| Common stock, par value $0.001; 150,000,000 shares authorized, 12,542,691 and 11,878,557 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 13 | 12 |
| Additional paid-in capital | 825,851 | 810,138 |
| Accumulated other comprehensive loss | (6,712) | (5,327) |
| Accumulated deficit | (904,215) | (906,928) |
| Total stockholders’ deficit | (85,063) | (102,105) |
| Total liabilities and stockholders’ deficit | $113,390 | $121,797 |
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