INSEEGO CORP
For the period ended Mar 31, 2025. Filed May 9, 2025.
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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.
Mar 31, 2025 · Filed May 9, 2025
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 Stockholders’ Deficit (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT
(In thousands)
| Preferred Stock · Common Stock · AdditionalPaid-in Capital (*) · Accumulated Deficit · AccumulatedOtherComprehensive (Loss) Income · TotalStockholders’ Deficit | ||||||||
|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares () · Amount () | ||||||||
| Balance, December 31, 2023 | 25 | $— | 11,879 | $12 | $810,138 | $(906,928) | $(5,327) | $(102,105) |
| Net income (loss) | — | — | — | — | — | (4,455) | — | (4,455) |
| Foreign currency translation adjustment | — | — | — | — | — | — | 262 | 262 |
| Exercises of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan, net of taxes withheld | — | — | 4 | — | (8) | — | — | (8) |
| Share-based compensation | — | — | — | — | 717 | — | — | 717 |
| Preferred stock dividends | — | — | — | — | 790 | (790) | — | — |
| Balance, March 31, 2024 | 25 | $— | 11,883 | $12 | $811,637 | $(912,173) | $(5,065) | $(105,589) |
| Balance, December 31, 2024 | 25 | $— | 14,991 | $15 | $892,534 | $(905,625) | $218 | $(12,858) |
| Net income (loss) | — | — | — | — | — | (1,570) | — | (1,570) |
| Foreign currency translation adjustment | — | — | — | — | — | — | 6 | 6 |
| Exercises of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan, net of taxes withheld | — | — | 16 | — | (174) | — | — | (174) |
| Share-based compensation | — | — | — | — | 1,601 | — | — | 1,601 |
| Preferred stock dividends | — | — | — | — | 864 | (864) | — | — |
| Balance, March 31, 2025 | 25 | $— | 15,007 | $15 | $894,825 | $(908,059) | $224 | $(12,995) |
(*)Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $(1,570) | $(4,455) |
| Adjustments to reconcile net loss to net cash used in (provided by) operating activities: | ||
| (Income) Loss from discontinued operations, net of tax | 400 | (1,061) |
| Depreciation and amortization | 2,098 | 3,338 |
| Provision for expected credit losses | 14 | (41) |
| Impairment of capitalized software | 384 | 420 |
| Provision for excess and obsolete inventory | 680 | 128 |
| Share-based compensation expense | 1,601 | 688 |
| Amortization of debt discount and debt issuance costs | (22) | 489 |
| Deferred income taxes | 3 | 3 |
| Non-cash operating lease expense | 263 | 252 |
| Changes in assets and liabilities: | ||
| Accounts receivable | 1,698 | 238 |
| Inventories | (2,218) | 1,880 |
| Prepaid expenses and other assets | 1,346 | (460) |
| Accounts payable | (850) | (734) |
| Accrued expenses and other liabilities | (6,972) | 3,563 |
| Operating lease liabilities | (322) | (306) |
| Operating cash flows from continuing operations | (3,467) | 3,942 |
| Operating cash flows from discontinued operations | — | 1,298 |
| Net cash used in (provided by) operating activities | (3,467) | 5,240 |
| Cash flows from investing activities: | ||
| Purchases of property, plant and equipment | (32) | — |
| Additions to capitalized software development costs and purchases of intangible assets | (1,693) | (577) |
| Investing cash flows from continuing operations | (1,725) | (577) |
| Investing cash flows from discontinued operations | 710 | — |
| Net cash used in investing activities | (1,015) | (577) |
| Cash flows from financing activities: | ||
| Net borrowings on revolving credit facility | — | 583 |
| Proceeds from stock option exercises and employee stock purchase plan, net of taxes | 42 | — |
| Financing cash flows from continuing operations | 42 | 583 |
| Financing cash flows from discontinued operations | — | — |
| Net cash provided by financing activities | 42 | 583 |
| Effect of exchange rates on cash | (7) | 226 |
| Net decrease (increase) in cash and cash equivalents | (4,447) | 5,472 |
| Cash and cash equivalents, beginning of period | 39,596 | 2,409 |
| Cash and cash equivalents, end of period | $35,149 | $7,881 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during the year for: | ||
| Interest | $7 | $147 |
| Income taxes | $57 | $44 |
| Supplemental disclosures of non-cash investing and financing activities: | ||
| Capital expenditures financed through accounts payable or accrued liabilities | $918 | $104 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.