INSEEGO CORP

For the period ended Dec 31, 2024. Filed Feb 20, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 20, 2025

INSG$4.25+0.7%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

	Year Ended December 31,
	2024	2023
Cash flows from operating activities:
Net income (loss)	$4,572	$(46,185)
Adjustments to reconcile Net income (loss) to net cash provided by operating activities
(Income) Loss from discontinued operations, net of tax	(18,941)	1,169
Depreciation and amortization	12,529	18,709
Provision for expected credit losses	216	302
Impairment of capitalized software	927	1,115
Provision for excess and obsolete inventory	(54)	9,491
Write-off of capitalized inventory order fees	—	1,275
Impairment of operating lease right-of-use assets	138	469
Share-based compensation expense	3,824	6,971
Amortization of debt discount and debt issuance costs	4,399	1,953
Loss on extinguishment of revolving credit facility	788	—
Loss on debt restructurings, net	2,851	—
Deferred income taxes	62	9
Non-cash operating lease expense	1,035	1,038
Changes in assets and liabilities, net of effects of divestiture:
Accounts receivable	4,670	3,068
Inventories	6,923	4,272
Prepaid expenses and other assets	(71)	1,933
Accounts payable	(6,947)	(802)
Accrued expenses other liabilities	10,966	235
Operating lease liabilities	(1,230)	(1,272)
Operating cash flows from continuing operations	26,657	3,750
Operating cash flows from discontinued operations	6,862	2,207
Net cash provided by operating activities	33,519	5,957
Cash flows from investing activities:
Purchases of property, plant and equipment	(100)	(224)
Additions to capitalized software development costs and purchases of intangible assets	(4,961)	(8,112)
Investing cash flows from continuing operations	(5,061)	(8,336)
Investing cash flows from discontinued operations	48,092	(1,833)
Net cash provided by (used in) investing activities	43,031	(10,169)
Cash flows from financing activities:
Payments related to repurchases of 2025 Convertible Notes	(33,769)	—
Proceeds from issuance of short-term loan and warrants, net of issuance costs	19,350	—
Repayments on short-term loan	(19,500)	—
Net repayments on asset-backed revolving credit facility	(4,882)	(3,757)
Net repayment of bank and overdraft facilities	—	(186)
Proceeds from a public offering, net of issuance costs	—	6,057
Proceeds from stock option exercises and ESPP	20	97
Financing cash flows from continuing operations	(38,781)	2,211
Financing cash flows from discontinued operations	—	—
Net cash provided by (used in) financing activities	(38,781)	2,211
Effect of exchange rates on cash	(582)	1,169
Net increase (decrease) in cash, cash equivalents and restricted cash	37,187	(832)
Cash, cash equivalents and restricted cash, beginning of period	2,409	3,241
Cash, cash equivalents and restricted cash, end of period	$39,596	$2,409
Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest	$6,245	$6,013
Income taxes	$196	$142
Supplemental disclosures of non-cash activities:
Capital expenditures financed through accounts payable or accrued liabilities	$235	$98
2029 Senior Secured Notes issued in exchange for 2025 Convertible Notes	$42,557	$—

Common stock issued in exchange for 2025 Convertible Notes	$44,930	$—
Warrants issued in exchange for 2025 Convertible Notes	$27,603	$—
Purchase price receivable for Telematics divestiture within prepaid and other current assets	$710	$—
Accrued taxes related to Telematics divestiture	$900	$—

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