Inseego Corp (INSG) Q4 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic …

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Mon, February 23, 2026 at 10:00 AM GMT+9 3 min read

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**Revenue (Q4 2025):** $48.4 million.

**Adjusted EBITDA (Q4 2025):** $6 million, 12.4% margin.

**Full-Year Revenue (2025):** $166.2 million.

**Non-GAAP Gross Margin (Q4 2025):** 43%.

**Non-GAAP Operating Expenses (Q4 2025):** $17 million, 35% of revenue.

**Adjusted EBITDA (Full-Year 2025):** $20.1 million, 12.1% margin.

**Cash (End of Q4 2025):** $24.9 million.

**Debt (End of Q4 2025):** $41 million.

**Q1 2026 Revenue Guidance:** $33 million to $36 million.

**Q1 2026 Adjusted EBITDA Guidance:** $1 million to $2 million.

**Full-Year 2026 Revenue Guidance:** Approximately $190 million.

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Release Date: February 19, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Inseego Corp (NASDAQ:INSG) reported Q4 2025 revenue of $48.4 million and adjusted EBITDA of $6 million, both exceeding guidance.

The company achieved its third consecutive quarter of sequential growth in revenue and EBITDA.

Inseego Corp (NASDAQ:INSG) expanded its Tier 1 carrier footprint for Fixed Wireless Access (FWA) by securing contracts with AT&T and Verizon.

The company's hotspot portfolio saw a 27% sequential revenue increase, highlighting strong performance in mobile connectivity.

Inseego Corp (NASDAQ:INSG) retired all preferred stock at a significant discount, improving its capital structure and enhancing long-term flexibility.

Negative Points

Q1 2026 revenue is expected to be lower sequentially due to engineering delays and inventory issues with a Tier 1 FWA carrier.

The company anticipates increased operating expenses in Q1 2026 due to delayed R&D spending and investments in sales and marketing.

Inseego Corp (NASDAQ:INSG) faces challenges in managing memory market dynamics, including price increases and supply shortages.

The transition to new mobile product generations has been delayed, impacting Q1 2026 revenue.

Despite positive growth, the company acknowledges variability in results due to the timing of new product rollouts and transitions.

Q & A Highlights

Q: Can you provide more details on how Inseego is managing the memory market challenges and the implications for 2026 guidance? A: Steven Gatoff, CFO, explained that Inseego has secured its memory supply for Q1 and most of the first half of the year, anticipating market tightness. Juho Sarvikas, CEO, added that they have taken proactive measures to ensure sufficient inventory and pricing stability, allowing them to capture potential upside and channel fill opportunities.

Story Continues  

Q: What is the outlook for Inseego’s revenue growth and adjusted EBITDA margins in 2026? A: Steven Gatoff, CFO, indicated that revenue is expected to ramp significantly, with Q2 seeing a substantial increase and Q3 and Q4 expected to have higher revenue levels. Adjusted EBITDA margins will be lightest in Q1 but are expected to grow and scale throughout the year, with a higher rate in the second half.

Q: How does Inseego view its competitive position and product portfolio expansion in 2026? A: Juho Sarvikas, CEO, expressed confidence in Inseego’s competitive position, highlighting the launch of new mobile products with all three major carriers. He emphasized the predictable nature of the mobile business and the potential for market consolidation. Inseego plans to expand its product portfolio with new MiFi products and an entry-level enterprise FWA offering.

Q: What is the expected contribution of Fixed Wireless Access (FWA) and mobile to Inseego’s growth in 2026? A: Steven Gatoff, CFO, stated that both FWA and mobile are expected to grow in 2026, with FWA benefiting from portfolio and customer expansion. Juho Sarvikas, CEO, added that while both categories will contribute to growth, the long-term view favors FWA due to its larger total addressable market.

Q: Can you elaborate on the opportunities with MSOs and distribution channels in 2026? A: Juho Sarvikas, CEO, highlighted the potential of MSOs, which have cellular assets and can drive significant FWA use cases. He noted that Inseego has invested in products and cloud capabilities to support these opportunities. The VAR and MSP channels are expected to be slower but steady growth drivers, with large value-added resellers already stocking Inseego’s products.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

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