Quarterly ResultMay 8, 2026, 06:12 AM
INSEEGO Q1 EPS $0.66 on Preferred Stock Exchange; Revenue $34.3M
AI Summary
INSEEGO Corp. reported a significant increase in net income attributable to common stockholders to $10.6 million, or $0.66 per basic share, for the first quarter of 2026, primarily driven by a $15.1 million deemed contribution from a preferred stock exchange. Total revenues for the quarter rose to $34.3 million from $31.7 million year-over-year, with strong growth in fixed wireless access solutions. However, the company's operating loss widened to $3.6 million from $0.4 million in the prior year, and total stockholders' deficit increased to $25.4 million.
Key Highlights
- INSEEGO completed a preferred stock exchange, converting $42.0M liquidation preference into $10.0M cash, 767,165 common shares, and $8.0M 2029 Senior Secured Notes.
- Total revenues increased to $34.3M for Q1 2026, up from $31.7M in Q1 2025.
- Net income attributable to common stockholders was $10.6M in Q1 2026, compared to a loss of $2.4M in Q1 2025.
- Basic earnings per share (EPS) was $0.66 in Q1 2026, a significant improvement from a loss of $0.16 in Q1 2025.
- Fixed wireless access solutions revenue grew to $5.3M in Q1 2026 from $1.9M in Q1 2025.
- Cash and cash equivalents decreased to $19.3M as of March 31, 2026, from $24.9M at December 31, 2025.
- Total liabilities increased to $109.6M as of March 31, 2026, from $97.9M at December 31, 2025.
- Total stockholders' deficit widened to $25.4M as of March 31, 2026, from $4.0M at December 31, 2025.