Categories Earnings, Technology

Inseego Corp. (NASDAQ: INSG): Q4 2019 Earnings Snapshot

— Cloud technology company Inseego Corp. (NASDAQ: INSG) reported an adjusted net loss of $7.96 million or $0.10 per share for the fourth quarter of 2019, vs. $0.08 per share loss expected.

— Unadjusted net loss was $13.3 million or $0.17 per share, compared to a loss of $4.19 million or $0.06 per share in the fourth quarter of 2018

— December-quarter revenues dropped 7% annually to $52.33 million, vs. $51.9 million expected

— Closed $25 million private placement transaction recently, providing capital to support global 5G strategy

— Reduced debt by $60 million through convertible note exchanges, and slashed annual cash interest payments by $7.8 million

— Signed 5G agreements with leading mobile network operators in North America, Europe, the Middle East and Asia-Pacific

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