Inseego Corp. Q4 FY2025 earnings call

• Juho Sarvikas discussed Q4 execution, 2025 full year progress, and 2026 outlook. Core business of cloud-managed FWA and mobile solutions saw strong performance. Made progress in evolving into a solutions company with Inseego Connect and Inseego Subscribe. Broadened revenue base and customer diversity. • Steven Gatoff walked through financial results, capital structure update, and guidance. Q4 non-GAAP gross margin 43%, adjusted EBITDA $6 million. Retired all preferred stock, strengthened capital structure. Provided Q1 2026 guidance and full year 2026 revenue outlook.

In Q4 2025, revenue was $48.4 million and adjusted EBITDA was $6 million. Mobile revenue was $20.4 million, representing roughly 40% of total company's revenue. FWA had strong performance with FX4100 and expanded Tier 1 carrier footprint with AT&T and Verizon. Software services revenue was $12 million in Q4. Full year 2025 total revenue was $166.2 million, adjusted EBITDA was $20.1 million with 12.1% margin.

• Q1 2026 total revenue range $33 million to $36 million, adjusted EBITDA range $1 million to $2 million. • Full year 2026 total revenue approximately $190 million. 2026 expected to have growth and profitability increasing from Q1, with Q2 and later quarters showing higher figures.

Q: Scott Searle asked about memory management, share shifting, and new product portfolio.

A: Juho and Steven discussed memory management, share shifting in mobile and FWA, and details of new product portfolio including MiFi and FWA entries.

Q: Tyler Burmeister inquired about MSO and distribution channel opportunities.

A: Juho Sarvikas mentioned MSOs and VARs/MSPs as growth drivers with details on their roles.

Q: Christian Schwab asked about software business deployment and enterprise FWA.

A: Juho Sarvikas talked about Inseego Connect and subscriber life cycle management, and reasons for enterprise FWA acceleration.

Q: Lance Vitanza asked about Verizon impact on results and EBITDA margin outlook.

A: Juho and Steven discussed Verizon's impact and EBITDA margin expectations for 2026