Inseego’s QQ1 2025 period (quarter ended 2025-03-31) shows a meaningful top-line decline versus a year-ago period, with revenue of $31.673 million, down 29.6% YoY and 34.1% QoQ from the prior quarter’s $48.087 million. The company posted a gross margin of 47.3% on a gross profit of $14.983 million, but operating income remained negative at -$0.424 million, yielding a net loss of -$2.434 million and an EPS of -$0.16. EBITDA stood at $1.978 million, signaling some operating cash generation before non-cash and financing items, yet year-on-year profitability remains challenged as dependence on hardware volumes, working capital movements, and elevated Opex continues to weigh on bottom-line results.
From a liquidity and balance-sheet perspective, Inseego ended QQ1 2025 with cash and cash equivalents of $35.15 million and total debt of $60.36 million, resulting in a net debt position of about $25.22 million. Total assets were $92.99 million against liabilities of $105.99 million and negative shareholders’ equity of -$12.99 million, reflecting a substantial accumulated deficit (retained earnings of -$908.06 million historically) and sizable non-cash equity components. The firm remains cash-flow negative from operations (-$3.47 million) and free cash flow negative (-$3.50 million) for the quarter, underscoring ongoing liquidity considerations even as the company sustains product development, SaaS initiatives, and IIoT/cloud solutions.
Looking ahead, the absence of formal forward guidance in the provided materials limits explicit forecast benchmarks. However, the investment trajectory appears anchored in monetizing SaaS platforms (Inseego Subscribe, fleet/telematics offerings) and expanding private LTE/5G solutions for enterprise and government segments. Near-term investor focus should be on the trajectory of gross margin stability, control of operating expenses, and the pace of working-capital optimization to convert revenue activity into positive free cash flow, alongside a gradual reduction in net debt and improvements in liquidity.