Inseego Reports $44M Revenue with 9.4% Growth, Faces $8.4M Net Loss in Q2 2026

Inseego Corp. reported a total revenue of $44.0 million for the three months ended June 30, 2026, marking a 9.4% increase from $40.2 million in the same period last year. The growth was primarily driven by a 26.5% rise in mobile solutions revenue, which reached $17.3 million, attributed to new sales from a carrier partner not present in the prior year. However, fixed wireless access solutions saw a slight decline of 1.0%, totaling $14.4 million, reflecting a shift in customer mix. For the six months ending June 30, 2026, total revenue increased to $78.3 million, up 8.9% from $71.9 million in the previous year.

Despite the revenue growth, Inseego reported a net loss of $8.4 million for the second quarter, compared to a profit of $0.5 million in the same quarter of 2025. The loss was attributed to increased costs of revenues, which rose to $29.1 million, or 66.2% of total revenues, up from 58.9% in the prior year. The gross profit for the quarter was $14.8 million, resulting in a gross margin of 33.8%, down from 41.1% a year earlier. The company also experienced a significant increase in operating expenses, which totaled $22.1 million, a 44.9% rise compared to the previous year, driven by higher research and development, sales and marketing, and general administrative costs.

Inseego has made strategic moves to enhance its market position, including a significant asset purchase agreement with Nokia Solutions and Networks Oy to acquire its fixed wireless access business. This transaction, valued at approximately $26 million, will be settled through a combination of cash, common stock, and the assumption of certain liabilities. Additionally, Inseego entered into a subscription agreement with Nokia, which includes a $10 million cash investment in exchange for common stock and warrants. These developments are expected to bolster Inseego's product offerings and market reach.

Operationally, Inseego's customer base remains concentrated, with two customers accounting for 42.6% and 37.8% of revenues in the latest quarter. The company reported a total of 16.4 million shares outstanding as of June 30, 2026, and a working capital facility of $20 million, of which $10 million was drawn. The company’s cash and cash equivalents decreased to $1.9 million, down from $24.9 million at the end of 2025, reflecting ongoing cash flow challenges.

Looking ahead, Inseego's management expressed cautious optimism, emphasizing the importance of achieving a sustainable revenue mix to support its evolving cost structure. The company is focused on expanding its product lines and customer base while navigating the challenges posed by market conditions and operational costs. The successful integration of the Nokia acquisition and the continued development of its 5G solutions are seen as critical to driving future growth and profitability.