Inseego Corp (INSG)

[JFXL2]

IMO the market is over reacting, especially after you look a these numbers. They expected -$0.10 loss and it came in at -$0.08. Hey what do I know, I'm just one person

Corporate Highlights

-- Q1 revenue $57.6 million, up 1.3% year-over-year

-- Cash balance of $59.6 million, including cash classified as held for sale,
with zero bank debt

-- Non-GAAP Q1 gross margin was 35.7%, up 4.2% year-over-year

-- Appointed new interim Chief Financial Officer Bob Barbieri
IoT & Mobile Solutions

-- Q1 revenue of $43.0 million, up 1.3% year-over-year

-- Non-GAAP gross margins up 5.6% year-over-year

-- Combined 5G and SaaS revenue now 44% of overall revenue, double the level
of Q1 2020

-- Launched enterprise 5G solutions in multiple regions with leading
distributors: Ingram Micro, Scansource, and Synnex in North America;
Solid State Supplies and Sphinx in Europe; and Powertec in Australia

-- Launched MiFi(R) 8000 in Canada with Rogers and Fido

-- Achieved certification for three Wavemaker 5G fixed wireless access
products for sale to T-Mobile enterprise customers

-- Inseego Connect cloud solution now available to AT&T MiFi 8000 enterprise
customers

-- Secured a new 5G operator customer, Sunrise Switzerland; commercial
launch planned for early June 2021

-- Achieved 11.5% quarter-over-quarter growth of Inseego Manage cloud
subscriptions
Enterprise SaaS Solutions

-- Q1 revenue of $14.6 million, up 1.5% year-over-year

-- On track to divest Ctrack South Africa operations by the end of the
second quarter 2021, subject to regulatory approval and other closing
conditions
"The improvement in our margins during the first quarter reflects our focus on driving 5G growth coupled with an increase in our software business," said Inseego interim CFO Bob Barbieri. "The investments we've made in our 5G portfolio continue to expand and diversify our customer base as well as further improve our margins."