INSEEGO CORP Reports Second Quarter FY2023 Earnings Results for June 30 2023

August 14, 2023

🌥️Earnings Overview

INSEEGO CORP ($NASDAQ:INSG) released its earnings results for the quarter ending June 30 2023 on August 3 2023. The company reported total revenue of USD 53.6 million, a decline of 13.4% from the same period last year. Net income also decreased, from -12.4 million to -4.9 million.

Share Price

This marked the highest closing price recorded in almost a year for INSEEGO CORP, a testament to the company’s strong performance over the quarter. This is largely attributed to INSEEGO CORP’s successful implementation of cost-saving measures throughout the quarter, allowing them to better optimize their results and maximize profits. Overall, the second quarter of 2023 was a successful one for INSEEGO CORP, with strong earnings results and a significant increase in stock prices. The company looks forward to continuing its success in the third quarter of 2023 and beyond as they implement further cost-saving measures and continue to optimize their performance. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Inseego Corp. More…

    Total Revenues Net Income Net Margin
    226.43 -43.27 -16.9%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Inseego Corp. More…

    Operations Investing Financing
    -3.01 -10.64 7.97
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Inseego Corp. More…

    Total Assets Total Liabilities Book Value Per Share
    153.69 224.5 -0.61
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Inseego Corp are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    -3.6% -14.0%
    FCF Margin ROE ROA
    -6.0% 27.5% -12.9%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    At GoodWhale, we take pride in providing our users a comprehensive and informative analysis of INSEEGO CORP‘s financials. Our Risk Rating has placed INSEEGO CORP at a medium risk investment in terms of financial and business aspects. We have also detected 2 risk warnings in INSEEGO CORP’s balance sheet and cashflow statement, so if you are looking for a more in-depth look at the company’s financials, we encourage you to register with us and check it out. With our detailed analysis, we are sure that you will make the most informed decision for your investments. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis




  • Peers

    The company’s products and services include mobile hotspots, routers, and software-as-a-service solutions. Inseego Corp‘s competitors include Urovo Technology Co Ltd, MITAC Holdings Corp, and BeWhere Holdings Inc.

    – Urovo Technology Co Ltd ($SZSE:300531)

    Urovo Technology Co Ltd is a leading provider of mobile data capture and intelligent solutions. The company’s products and solutions are used in a variety of industries including healthcare, retail, logistics, and manufacturing. Urovo has a strong presence in China and is expanding its international reach. The company’s products and solutions are designed to improve efficiency and productivity while reducing costs.

    – MITAC Holdings Corp ($TWSE:3706)

    MITAC Holdings Corp is a Taiwanese conglomerate with a focus on the information technology industry. The company has a market capitalization of $32.63 billion as of 2022 and a return on equity of 20.04%. MITAC Holdings Corp is involved in a wide range of businesses, including manufacturing and selling computer hardware, developing and selling software, and providing services such as cloud computing and data center operation. The company has a strong presence in Taiwan and also has operations in Mainland China, Hong Kong, and the United States.

    – BeWhere Holdings Inc ($TSXV:BEW)

    BeWhere Holdings Inc is a Canadian technology company that specializes in the development and commercialization of Internet of Things (IoT) solutions. Its IoT solutions are used in a variety of industries, including asset tracking and management, environmental monitoring, and security. As of 2022, BeWhere Holdings Inc had a market cap of 18.54 million and a return on equity of 6.89%.

    Summary

    INSEEGO CORP reported second quarter FY2023 results on August 3 2023, with total revenue of USD 53.6 million, a year-on-year decrease of 13.4%. Net income was USD -4.9 million, compared to -12.4 million last year. This resulted in an increase in the stock price on the same day.

    For investors, it is important to note that while revenue decreased, net income improved significantly, indicating a more positive outlook for the company’s future financial performance. Furthermore, investors should consider the company’s long-term potential and its ability to continue to drive revenue growth and profitability in the coming quarters.

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