# EDGAR Filing Document

**Accession Number:** 0001022652
**File Stem:** 0001683168-25-008028
**Filing Date:** 2025-11
**Character Count:** 46343
**Document Hash:** 686738ece793a42fc44f417993ceac1b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683168-25-008028.hdr.sgml**: 20251106

**ACCESSION NUMBER**: 0001683168-25-008028

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 35

**CONFORMED PERIOD OF REPORT**: 20251106

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251106

**DATE AS OF CHANGE**: 20251106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** INSEEGO CORP.
- **CENTRAL INDEX KEY:** 0001022652
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMUNICATIONS EQUIPMENT, NEC [3669]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 813377646
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38358
- **FILM NUMBER:** 251458200

**BUSINESS ADDRESS:**
- **STREET 1:** 9710 SCRANTON ROAD
- **STREET 2:** SUITE 200
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92121
- **BUSINESS PHONE:** 8588123400

**MAIL ADDRESS:**
- **STREET 1:** 9710 SCRANTON ROAD
- **STREET 2:** SUITE 200
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NOVATEL WIRELESS INC
- **DATE OF NAME CHANGE:** 20000726

?xml version='1.0' encoding='ASCII'? Inseego Corp. 8-K

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM 8-K** 

**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): November 6, 2025**

**INSEEGO CORP.** 

(Exact Name of Registrant as Specified in Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-38358** | **81-3377646** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (IRS Employer<br> Identification No.) |

---

**9710 Scranton Road, Suite 200**

**San Diego, California 92121**

(Address of principal executive offices) (Zip Code)

 **(858) 812-3400**

(Registrant's telephone number, including area code)

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.001 per share | INSG | Nasdaq Global Select Market |
| Common Stock, par value $0.001 per share | INSG | Nasdaq Global Select Market |
| Common Stock, par value $0.001 per share | INSG | Nasdaq Global Select Market |
| Common Stock, par value $0.001 per share | INSG | Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

---

| | |
|:---|:---|
| **Item 2.02.** | **Results of Operations and Financial Condition.** |

---

On November 6, 2025, Inseego Corp. (the "Company") issued a press release containing preliminary financial results for the quarter ended September 30, 2025. On November 6, 2025, the Company also posted an investor presentation to its website at https://investor.inseego.com/events-presentations (the "Company Earnings Presentation"). The text of the press release and Company Earnings Presentation are furnished as Exhibits 99.1 and 99.2 to this Form 8-K and incorporated herein by reference.

The information in "Item 2.02 Results of Operations and Financial Condition" of this Current Report on Form 8-K and in Exhibit 99.1, attached hereto, is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. It may be incorporated by reference in a filing under the Exchange Act or the Securities Act of 1933, as amended, only if such subsequent filing specifically references such disclosure in this Form 8-K.

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

---

*(d)&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.*

The following Exhibits are filed with this report:

---

| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Description</u>** |
| 99.1 | [Press Release dated November 6, 2025, containing Inseego Corp. preliminary financial results for the quarter ended September 30, 2025](inseego_9901.htm) |
| 99.2 | [Company Earnings Presentation, dated November 6, 2025](inseego_9902.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **INSEEGO CORP** | **INSEEGO CORP** |
| Date: November 6, 2025 | By: | /s/ Steven Gatoff |
|  |  | Steven Gatoff |
|  |  | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](image_001.jpg)

**Inseego Reports Third Quarter 2025 Financial Results**

*Q3 2025 revenue of $45.9 million, second consecutive quarter of sequential growth*

*Q3 2025 Adjusted EBITDA of $5.8 million and GAAP Net Income of $1.4 million*

*Nabil Bukhari and Stephen Bye join Inseego Board of Directors*

**SAN DIEGO—November 6, 2025**—Inseego Corp. (Nasdaq: INSG) (the "Company"), a global leader in 5G mobile broadband and 5G fixed wireless access (FWA) solutions, today reported its results for the third quarter of 2025 ended September 30, 2025.

"Q3 was another strong quarter for Inseego, reflecting solid execution across our key strategic growth and value creation initiatives," said Juho Sarvikas, CEO of Inseego. "We delivered key wins and extended our enterprise FWA leadership with strong FX4100 demand, launched our premium FX4200 5G solution, and broadened our Tier-1 carrier base across both FWA and mobile. We also made key additions to our leadership team and board of directors, further positioning Inseego to execute on the large opportunity in front of us. We're focused on continuing to scale our cloud-managed wireless broadband solutions to drive sustainable growth and profitability as we look to successfully close-out 2025."

Steven Gatoff, CFO of Inseego, added: "We delivered another quarter of sequential growth, with revenue and adjusted EBITDA both above guidance. Our results reflect quality growth and we continue to gain traction with our customers across our product lines. Strong gross margins, disciplined expense management, and effective working capital drove meaningful operating leverage."

**<u>Q3 2025 Financial Highlights</u>**

&nbsp;&nbsp;&nbsp;&nbsp;• Total revenue for Q3 2025 was $45.9 million, up 14% sequentially.

&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted EBITDA\* for Q3 2025 was $5.8 million, up 22% sequentially. GAAP Net Income was $1.4 million.

&nbsp;&nbsp;&nbsp;&nbsp;• GAAP gross margin for Q3 2025 was 41.6%, the Company's third consecutive quarter with gross margin exceeding 40%.

**<u>Business Highlights</u>**

&nbsp;&nbsp;&nbsp;&nbsp;• Secured a new Tier-1 U.S. carrier customer to stock both our mobile and FWA next generation products, with FWA shipments expected
to begin late in Q4 2025 and mobile shipments in Q1 2026.

&nbsp;&nbsp;&nbsp;&nbsp;• Expanded FWA deployments with T-Mobile across multiple industries and saw significant traction in the recently launched FX4100.

&nbsp;&nbsp;&nbsp;&nbsp;• Launched the FX4200 enterprise FWA solution and updated software suite, Inseego Connect. When paired with the X700 mesh access point,
these become a complete enterprise solution that enables us to expand into larger enterprises. Additionally, this creates a new path to
market via MSPs and MSOs who can augment their existing networks with cellular capabilities.

&nbsp;&nbsp;&nbsp;&nbsp;• Announced appointment of Donna Johnson as CMO, Donna was most recently head of Marketing and Communications and CMO at Ericsson Enterprise
Wireless Solutions, formerly Cradlepoint.

&nbsp;&nbsp;&nbsp;&nbsp;• Announced appointment of Vishal Donthireddy as CTO, Vishal has been with the company for almost 20 years, most recently serving as
Senior Vice President of Engineering.

&nbsp;&nbsp;&nbsp;&nbsp;• Appointed Nabil Bukhari and Stephen Bye to the Board of Directors, both of whom are experienced operating executives with extensive
experience in wireless networking, SaaS, and AI, and share a strong track record of driving transformation and go-to-market execution.

**<u>Upcoming Investor Events</u>**

Inseego management will be participating in the following upcoming investor conferences in New York in November and the Company will also pass a milestone anniversary of being listed on Nasdaq for 25 years with the closing bell ceremony at the Nasdaq Market Site on Monday, December 8<sup>th</sup>:

&nbsp;&nbsp;&nbsp;&nbsp;• November 18, 2025 – Craig-Hallum 16th Annual Alpha Select Conference

&nbsp;&nbsp;&nbsp;&nbsp;• November 19, 2025 – Roth Capital 14th Annual Technology Conference

&nbsp;&nbsp;&nbsp;&nbsp;• November 20, 2025 – Needham 6th Annual Tech Week One-on-One Event

**<u>Q4 2025 Guidance</u>**

Total revenue in the range of $45.0 million to $48.0 million.

Adjusted EBITDA in the range of $4.0 million to $5.0 million.

The Company's Q4 2025 financial guidance does not include any potential impact of the evolving tariff environment.

**Conference Call Information**

Inseego will host a conference call and live webcast today at 5:00 p.m. ET. A Q&A session will be held live directly after the prepared remarks. To access the conference call:

&nbsp;&nbsp;&nbsp;&nbsp;• Online, visit https://investor.inseego.com/events-presentations

&nbsp;&nbsp;&nbsp;&nbsp;• Those without internet access or unable to pre-register may dial in by calling:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In the United States, call 1-844-282-4463

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• International parties can access the call at 1-412-317-5613

An audio replay of the conference call will be available one hour after the call through November 20, 2025. To hear the replay, parties in the United States may call 1-877-344-7529 and enter access code 8127291 followed by the # key. International parties may call 1-412-317-0088. In addition, the Inseego Corp. press release will be accessible from the Company's website before the conference call begins.

*\*Adjusted EBITDA is a non-GAAP financial measure. See "Non-GAAP Financial Measures" below for more information, and the tables at the end of this release for a reconciliation to the closest GAAP measure.*

**About Inseego Corp.**

Inseego Corp (Nasdaq: INSG) is a leading provider of cloud-managed, wireless broadband connectivity solutions. Inseego's comprehensive hardware portfolio, combined with its Software-as-a-Service (SaaS) platform for device, network, and subscriber management, enables seamless business connectivity and simplifies subscription management, wireless deployments, and network operations for Fixed Wireless Access (FWA), IoT, and mobile networking. As an early pioneer in mobile broadband and a leading innovator in 5G for business, Inseego has delivered over 10 generations of solutions that provide unmatched speed, security, and reliability for businesses, government agencies, and educational institutions. For more information about Inseego, visit www.inseego.com.

**Cautionary Note Regarding Forward-Looking Statements**

Some of the information presented in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as "may," "estimate," "anticipate," "believe," "expect," "intend," "plan," "project," "will" and similar words and phrases indicating future results. The information presented in this news release related to our financial guidance, future business outlook, the future demand for our products, and other statements that are not purely historical facts are forward-looking. These forward-looking statements are based on management's current expectations, assumptions, estimates, and projections. They are subject to significant risks and uncertainties that could cause results to differ materially from those anticipated in such forward-looking statements. We, therefore, cannot guarantee future results, performance, or achievements. Actual results could differ materially from our expectations.

Factors that could cause actual results to differ materially from the Company's expectations include: (1) the Company's dependence on a small number of customers for a substantial portion of our revenues; (2) the future demand for wireless broadband access to data and device management software and services and our ability to accurately forecast; (3) the growth of wireless wide-area networking and device management software and services; (4) customer and end-user acceptance of the Company's current product and service offerings and market demand for the Company's anticipated new product and service offerings; (5) our ability to develop sales channels and to onboard channel partners; (6) increased competition and pricing pressure from participants in the markets in which the Company is engaged; (7) dependence on third-party manufacturers and key component suppliers worldwide; (8) the impact of fluctuations of foreign currency exchange rates; (9) the impact of supply chain challenges on our ability to source components and manufacture our products; (10) unexpected liabilities or expenses; (11) the Company's ability to introduce new products and services in a timely manner, including the ability to develop and launch 5G products at the speed and functionality required by our customers; (12) litigation, regulatory and IP developments related to our products or components of our products; (13) the Company's ability to raise additional financing when the Company requires capital for operations or to satisfy corporate obligations; (14) the Company's plans and expectations relating to acquisitions, divestitures, strategic relationships, international expansion, software and hardware developments, personnel matters, and cost containment initiatives, including restructuring activities and the timing of their implementations; (15) the global semiconductor shortage and any related price increases or supply chain disruptions, (16) the potential impact of COVID-19 or other global public health emergencies on the business, (17) the impact of high rates of inflation and rising interest rates, (18) the impact of import tariffs on our materials and products, and (19) the impact of geopolitical instability on our business.

These factors, as well as other factors set forth as risk factors or otherwise described in the reports filed by the Company with the SEC (available at www.sec.gov), could cause results to differ materially from those expressed in the Company's forward-looking statements. The Company assumes no obligation to update publicly any forward-looking statements, even if new information becomes available or other events occur in the future, except as otherwise required under applicable law and our ongoing reporting obligations under the Securities Exchange Act of 1934, as amended.

**Non-GAAP Financial Measures**

Inseego Corp. has provided financial information in this press release that has not been prepared in accordance with GAAP. Non-GAAP net income (loss) and non-GAAP net income (loss) per share, for example, exclude the impact of share-based compensation expense, impairment of capitalized software, amortization of intangible assets purchased through acquisitions, and other non-recurring gains and losses. Adjusted EBITDA, in addition to those items excluded from non-GAAP net income (loss), excludes all interest expense, taxes, depreciation, amortization, and other non-operating income/expense.

Non-GAAP net income (loss), non-GAAP net income (loss) per share, and Adjusted EBITDA are supplemental measures of our performance that are not required by, or presented in accordance with, GAAP. These non-GAAP financial measures have limitations as an analytical tool. They are not intended to be used in isolation or as a substitute for cost of revenues, operating expenses, net income (loss), net income (loss) per share or any other performance measure determined in accordance with GAAP. We present these non-GAAP financial measures because we consider them to be an important supplemental performance measure.

We use these non-GAAP financial measures to make operational decisions, evaluate our performance, prepare forecasts and determine compensation. Further, management and investors benefit from referring to these non-GAAP financial measures in assessing our performance when planning, forecasting and analyzing future periods. Share-based compensation expenses are expected to vary depending on the number of new incentive award grants issued to both current and new employees, the number of such grants forfeited by former employees, and changes in our stock price, stock market volatility, expected option term and risk-free interest rates, all of which are difficult to estimate. In calculating non-GAAP financial measures, we exclude certain non-cash and one-time items to facilitate comparability of our operating performance on a period-to-period basis because such expenses are not, in our view, related to our ongoing operational performance. We use this view of our operating performance to compare it with the business plan and individual operating budgets and in the allocation of resources.

We believe that these non-GAAP financial measures are helpful to investors in providing greater transparency to the information used by management in its operational decision-making. The Company believes that using these non-GAAP financial measures also facilitates comparing our underlying operating performance with other companies in our industry, which use similar non-GAAP financial measures to supplement their GAAP results.

In the future, we expect to continue to incur expenses similar to the non-GAAP adjustments described above, and the exclusion of these items in the presentation of our non-GAAP financial measures should not be construed as an inference that these costs are unusual, infrequent, or non-recurring. Investors and potential investors are cautioned that material limitations are associated with using non-GAAP financial measures as an analytical tool. The limitations of relying on non-GAAP financial measures include, but are not limited to, the fact that other companies, including other companies in our industry, may calculate non-GAAP financial measures differently than we do, limiting their usefulness as a comparative tool.

Investors and potential investors are encouraged to review the reconciliation of our non-GAAP financial measures in this press release with our GAAP financial results.

**Investor Relations Contact:** 

Matt Glover, Gateway Group: (949) 574-3860

IR@inseego.com

**INSEEGO CORP.**

**CONSOLIDATED STATEMENTS OF OPERATIONS** 

(In thousands, except share and per share data)

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended**<br> **September 30,** | **Three Months Ended**<br> **September 30,** | **Nine Months Ended**<br> **September 30,** | **Nine Months Ended**<br> **September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Revenues: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mobile solutions | $16037 | $32282 | $47499 | $73431 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed wireless access solutions | 17650 | 9723 | 34064 | 37222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Product | 33687 | 42005 | 81563 | 110653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Software services and other | 12206 | 12027 | 36226 | 32504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenues | 45893 | 54032 | 117789 | 143157 |
| Cost of revenues: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Product | 25253 | 33592 | 63014 | 86812 |
| &nbsp;&nbsp;&nbsp;&nbsp;Software services and other | 1556 | 1640 | 4193 | 5492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cost of revenues | 26809 | 35232 | 67207 | 92304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 19084 | 18800 | 50582 | 50853 |
| Operating costs and expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 4878 | 5176 | 14233 | 15032 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 4198 | 4125 | 12083 | 12176 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 5689 | 4822 | 14882 | 12695 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 2164 | 3154 | 5989 | 10098 |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment of capitalized software | – | 507 | 384 | 927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating costs and expenses | 16929 | 17784 | 47571 | 50928 |
| Operating income (loss) | 2155 | 1016 | 3011 | (75) |
| Other (expense) income: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (885) | (5731) | (2844) | (9686) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of revolving credit facility |  |  |  | (788) |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on debt restructurings, net |  | 12366 |  | 13690 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income (expense), net | 126 | (72) | 611 | (864) |
| Income (Loss) before income taxes | 1396 | 7579 | 778 | 2277 |
| Income tax provision (benefit) | (36) | 36 | 9 | 171 |
| Income (Loss) from continuing operations | 1432 | 7543 | 769 | 2106 |
| Income (loss) from discontinued operations, net of income tax provision | – | 1426 | (400) | 3032 |
| Net income (loss) | 1432 | 8969 | 369 | 5138 |
| Preferred stock dividends | (903) | (827) | (2650) | (2425) |
| Net income (loss) attributable to common stockholders | $529 | $8142 | $(2281) | $2713 |
| Per share data: |  |  |  |  |
| Net earnings (loss) per share |  |  |  |  |
| &nbsp;&nbsp;**Basic** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Continuing operations | $0.03 | $0.54 | $(0.12) | $(0.03) |
| &nbsp;&nbsp;&nbsp;&nbsp;Discontinued operations | $– | $0.12 | $(0.03) | $0.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic and diluted earnings (loss) per share\* | $0.03 | $0.66 | $(0.15) | $0.23 |
| &nbsp;&nbsp;**Diluted** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Continuing operations | $0.03 | $(0.16) | $(0.12) | $(0.03) |
| &nbsp;&nbsp;&nbsp;&nbsp;Discontinued operations | $– | $0.11 | $(0.03) | $0.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings per share | $0.03 | $(0.06) | $(0.15) | $0.23 |
| Weighted-average shares used in computation of net earnings (loss) per share |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 15142000 | 12336503 | 15056458 | 12036989 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 15522042 | 13218293 | 15056458 | 12036989 |

---

(\*) Adjusted retroactively for reverse stock split that occurred on January 24, 2024

**INSEEGO CORP.**

**CONSOLIDATED BALANCE SHEETS**

(In thousands)

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **September 30,<br> 2025** | **December 31,<br> 2024** |
| **ASSETS** | | |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $14559 | $39596 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 27563 | 13803 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | 8602 | 13575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 6261 | 5926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 56985 | 72900 |
| Property, plant and equipment, net | 1016 | 1102 |
| Intangible assets, net | 19635 | 18747 |
| Goodwill | 3949 | 3949 |
| Operating lease right-of-use assets | 3663 | 2855 |
| Other assets | 565 | 446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $85813 | $99999 |
| **LIABILITIES AND STOCKHOLDERS' DEFICIT** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $18783 | $18433 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 25075 | 30133 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 Convertible Notes, net | – | 14905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 43858 | 63471 |
| Long-term liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | 3161 | 2627 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax liabilities, net | 183 | 174 |
| &nbsp;&nbsp;&nbsp;&nbsp;2029 Senior Secured Notes, net | 41666 | 41830 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other long-term liabilities | 4663 | 4755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 93531 | 112857 |
| Commitments and contingencies |  |  |
| Stockholders' deficit: |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock (aggregate liquidation preference of $41,043 as of September 30, 2025) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock | 15 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 899808 | 892534 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | 365 | 218 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (907906) | (905625) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' deficit | (7718) | (12858) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' deficit | $85813 | $99999 |

---

**INSEEGO CORP.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

(In thousands)

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended**<br> **September 30,** | **Nine Months Ended**<br> **September 30,** |
|  | **2025** | **2024** |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) | $369 | $5138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Income) Loss from discontinued operations, net of tax | 400 | (3032) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 6079 | 10214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of revolving credit facility |  | 788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on debt restructurings, net |  | (13690) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for expected credit losses | 287 | (372) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of capitalized software | 384 | 927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for excess and obsolete inventory | 510 | 901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of operating lease right-of-use assets |  | 139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on early lease termination | (443) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation expense | 5105 | 2714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt discount (premium) and debt issuance costs, net | (120) | 4435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 9 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-cash operating lease expense | 774 | 738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (14047) | 2962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 4463 | 1536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (1164) | 1993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (184) | 12021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | (5325) | 14146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | (952) | (888) |
| &nbsp;&nbsp;Operating cash flows from continuing operations | (3855) | 40679 |
| &nbsp;&nbsp;Operating cash flows from discontinued operations | (908) | 7031 |
| &nbsp;&nbsp;**Net cash provided by (used in) operating activities** | (4763) | 47710 |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases of property, plant and equipment | (321) | (30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additions to capitalized software development costs and purchases of intangible assets | (6121) | (3608) |
| &nbsp;&nbsp;Investing cash flows from continuing operations | (6442) | (3638) |
| &nbsp;&nbsp;Investing cash flows from discontinued operations | 710 | (16) |
| &nbsp;&nbsp;**Net cash used in investing activities** | (5732) | (3654) |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments related to repayments of 2025 Convertible Notes | (14949) | (33781) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of short-term loan and warrants, net of issuance costs |  | 19350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net repayments on revolving credit facility |  | (4882) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments on short-term loan |  | (13500) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from stock option exercises and employee stock purchase plan, net of taxes | 308 | 2 |
| &nbsp;&nbsp;Financing cash flows from continuing operations | (14641) | (32811) |
| &nbsp;&nbsp;Financing cash flows from discontinued operations | – | – |
| &nbsp;&nbsp;**Net cash used in financing activities** | (14641) | (32811) |
| &nbsp;&nbsp;Effect of exchange rates on cash | 99 | (1682) |
| &nbsp;&nbsp;**Net increase (decrease) in cash and cash equivalents** | (25037) | 9563 |
| Cash and cash equivalents, beginning of period | 39596 | 2409 |
| Cash and cash equivalents, end of period | $14559 | $11972 |

---

**INSEEGO CORP.**

**Supplemental Reconciliations of GAAP to Non-GAAP Financial Measures**

(In thousands)

(Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Q3 2025** | **Q2 2025** | **Q1 2025** | **Q4 2024** | **Q3 2024** | **Q2 2024** | **Q1 2024** |
| GAAP Income (Loss) from continuing operations | $1432 | $507 | $(1170) | $(16475) | $7543 | $79 | $(5516) |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation expense | 1850 | 1654 | 1601 | 1109 | 1193 | 834 | 687 |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment of capitalized software |  |  | 384 |  | 507 |  | 420 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on early lease termination | (443) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment of operating lease right-of-use assets |  |  |  |  | 139 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchased intangible amortization |  |  | 316 | 330 | 330 | 330 | 330 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt restructuring costs |  |  |  | 201 | 669 | 452 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of revolving credit facility |  |  |  |  |  | 788 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain/(loss) on debt restructurings, net | – | – | – | 16541 | (12366) | (1324) | – |
| **Non-GAAP net income (loss)** | **2839** | **2161** | **1131** | **1706** | **(1985)** | **1159** | **(4079)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization<sup>1</sup> | 2189 | 1792 | 1782 | 1978 | 2863 | 3361 | 3007 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 885 | 933 | 1026 | 1220 | 5731 | 1776 | 2179 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other (income) expense, net | (126) | (182) | (303) | (14) | 72 | 417 | 375 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax provision (benefit) | (36) | 22 | 23 | 518 | 36 | 118 | 17 |
| **Adjusted EBITDA** | $**5751** | $**4726** | $**3659** | $**5408** | $**6717** | $**6831** | $**1499** |

---

<sup>1</sup> Excluding purchased intangible amortization

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Q3 2025** | **Q2 2025** | **Q1 2025** | **Q4 2024** | **Q3 2024** | **Q2 2024** | **Q1 2024** |
| INCOME (LOSS) PER DILUTED SHARE: |  |  |  |  |  |  |  |
| GAAP income (loss) from continuing operations per diluted share<sup>2</sup> | $0.03 | $(0.03) | $(0.14) | $(1.23) | $(0.16) | $(0.06) | $(0.53) |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation expense | 0.12 | 0.11 | 0.10 | 0.07 | 0.10 | 0.07 | 0.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment of capitalized software |  |  | 0.03 |  | 0.04 |  | 0.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on early lease termination | (0.03) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment of operating lease right-of-use assets |  |  |  |  | 0.01 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchased intangibles amortization |  |  | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt restructuring costs |  |  |  | 0.01 | 0.05 | 0.04 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of revolving credit facility |  |  |  |  |  | 0.07 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain/(loss) on debt restructurings, net | – | – | – | 1.12 | (1.00) | (0.11) | – |
| Non-GAAP net income (loss) per diluted share<sup>2,3</sup> | $0.12 | $0.08 | $0.02 | $0.06 | $(0.95) | $0.03 | $(0.41) |
| Shares used in computing GAAP income (loss) from continuing operations per diluted share | 15522042 | 15023832 | 15002003 | 14032056 | 13218293 | 11894746 | 11879719 |
| Shares used in computing non-GAAP net income (loss) per diluted share | 15522042 | 15147769 | 15328069 | 14792934 | 12336503 | 11996070 | 11879719 |

---

<sup>2</sup> Includes the impact of preferred stock dividends

<sup>3</sup> The per share reconciliation of GAAP to non-GAAP may not aggregate due to both calculations utilizing a different share basis. The loss per diluted share calculation uses a lower share count as it excludes potentially dilutive shares included in the net income per diluted share calculation.

See "Non-GAAP Financial Measures" for information regarding our use of Non-GAAP financial measures.

## Exhibit 99.2

**Exhibit 99.2**

![](image_002.jpg)

Q3 2025 EARNINGS RESULTS Nov 6, 2025

![](image_003.jpg)

Scalable Business Model Strong Gross Margin Delivering Consistent Profitability Generating Cash Flow Driving Sustainable Revenue Growth Diversified Hardware & SaaS Revenue Streams Divested Telematics Portfolio to Focus on Key 5 G Growth Areas Inseego Financial Profile \| Compelling Improvements & Trajectory 2 Materially Reduced Total Debt Including Convert Pay - off

![](image_004.jpg)

Q3 2025 RESULTS (Nov 6, 2025) GUIDANCE (Aug 7, 2025) $45.9m $40m - $43m TOTAL REVENUE $5.8m $4m - $5m ADJ EBITDA 12.5% 10 - 12% Implied margin 3 Q3 2025 Financial Results \| Beat Guidance In the Aug 7, 2025 Q2 2025 Earnings call, the Company issued guidance for Q3 2025. On Nov 6, 2025, financial results for Q3 2025 were reported and represent a 'beat' on both revenue and ADJ EBITDA.

![](image_005.jpg)

Inseego delivered healthy sequential revenue growth (+$5.7m) and profitability expansion in Q3 2025, driven by the continued success of the Company's FX4100 FWA router at T - Mobile that launched during the second quarter. Q3 2025 Financial Highlights Include: Strong FWA revenue of $17.7m , growing +81% YoY vs. Q3 2024 and the second - highest quarterly FWA revenue on record Q3 2025 Financial Results \| Selected Key Highlights • 1 2 • Consistent contribution from Software Services & Other Revenue of $12.2m or 27% of revenue 3 • Solid non - GAAP Gross Margin of 41.8% , +700 bps higher YoY vs. Q3 2024 on account of higher FWA and Software Services & Other revenue 4 • Thoughtful spend management with non - GAAP Operating Expenses as a percentage of revenue down 680 bps (excluding D&A) compared to Q3 2024 5 • Sixth consecutive quarter of double - digit Adj EBITDA margin at 12.5% (80 bps higher vs. Q2 2025), with sequential Adj EBITDA growth of +$1.0m 6 • Closed Q3 2025 with healthy cash position of $14.6m , $1.3m higher sequentially, with an undrawn $15m Working Capital Facility providing further liquidity 4

![](image_006.jpg)

x Secured a new Tier - 1 U.S. carrier customer to stock both our mobile and FWA next generation products, with FWA shipments expected to begin late in Q4 2025 and mobile shipments in Q1 2026. x Expanded FWA deployments with T - Mobile across multiple industries and saw significant traction in the recently launched FX4100. x Launched the FX4200 enterprise FWA solution and updated software suite, Inseego Connect. When paired with the X700 mesh access point, these become a complete enterprise solution that enables us to expand into larger enterprises. Additionally, this creates a new path to market via MSPs and MSOs who can augment their existing networks with cellular capabilities. x Announced appointment of Donna Johnson as CMO, Donna was most recently head of Marketing and Communications and CMO at Ericsson Enterprise Wireless Solutions, formerly Cradlepoint. x Announced appointment of Vishal Donthireddy as CTO, Vishal has been with the company for almost 20 years, most recently serving as Senior Vice President of Engineering. x Appointed Nabil Bukhari and Stephen Bye to the Board of Directors, both of whom are experienced operating executives with extensive experience in wireless networking, SaaS, and AI, and share a strong track record of driving transformation and go - to - market execution. 5 Q3 2025 \| Selected Business Highlights

![](image_007.jpg)

29.5 39.2 42.0 35.9 19.7 28.2 33.7 8.1 12.4 12.0 12.2 12.0 12.0 12.2 37.5 51.6 54.0 48.1 31.7 40.2 45.9 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2025 2025 2025 2024 2024 2024 2024 Product Revenue Software Services & Other Revenue 6 Total Revenue \| Return to Sequential Revenue Growth Q3 2025 Product revenue grew sequentially by +20% on strong FWA growth following the continued success of the FX4100 that was launched during the previous quarter. ($ millions)

![](image_008.jpg)

15.3 25.9 32.3 25.5 17.8 13.7 16.0 14.2 13.3 9.7 10.4 1.9 14.5 17.6 29.5 39.2 42.0 35.9 19.7 28.2 33.7 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2025 2025 2025 2024 2024 2024 2024 Mobile Solutions Revenue Fixed Wireless Access Solutions Revenue 7 Product Revenue \| Robust FWA & Total Product Revenue Growth FWA revenues grew +21% sequentially over Q2 2025 and +82% YoY, marking the highest level of FWA revenue in the trailing 8 - quarters; Mobile Solutions also showed solid sequential quarterly growth contributing to the strong total Product revenue growth sequentially, albeit a decline as anticipated from the prior year significant Mobile promotional activity. ($ millions)

![](image_009.jpg)

Compelling Portfolio \| High - Value Software Services Contribution The Company continues its successful focus on its solutions portfolio and is delivering a healthy revenue mix from high - profitability Software Services & Other offerings in addition to its Product offerings. 79% 76% 78% 75% 62% 70% 73% 21% 24% 22% 25% 38% 30% 27% Q3 Q2 Q1 Q4 Q3 Q2 Q1 2025 2025 2025 2024 2024 2024 2024 Product Revenue Mix Software Services & Other Revenue Mix 8

![](image_010.jpg)

35.4% 9 36.5% 34.8% 37.4% 47.5% 41.2% 41.8% GROSS MARGIN % (non - GAAP) Q3 Q2 Q1 Q4 Q3 Q2 Q1 2025 2025 2025 2024 2024 2024 2024 Gross Margin \| Expanding Contribution The Company has materially improved its gross margin profile through a combination of improved revenue growth and mix, favorable pricing, and overall product sourcing & operational efficiencies.

![](image_011.jpg)

Operating Expense Efficiency \| Improving Operations at Scale Disciplined cost management is underlying stable operating expenditures and has created a platform for economies of scale on an operating expense to revenue ratio. G&A expense was impacted in Q3 2025 by certain one - time items that are not expected to recur. Sales & Marketing (non - GAAP) Research & Development (non - GAAP) General & Administrative (non - GAAP) Operating Expense / Revenue ratio NOTE: These OpEx categories do not include depreciation & amortization expense as that is reported in its own line item; see financial statements for full details. ($ millions) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2024 2024 2024 2024 2025 2025 2025 13% 11% 11% 11% 11% 12% 12% 4.8 9% 3.5 3.4 8% 3.7 6% 3.1 5% 2.8 10% 3.6 10% 4.6 4.6 4.3 5.3 9% 5.0 10% 5.1 4.5 9% 4.0 9% 3.8 3.8 8% 3.7 7% 4.0 8% 4.2 10% 3.7 Q1 2024 10 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025

![](image_012.jpg)

1.5 11 6.8 6.7 5.4 3.7 4.7 5.8 4.0% 13.2% 12.5% 11.2% 11.6% 11.7% 12.5% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Profitability \| Meaningful Shift & Expansion in Adj EBITDA Generation The Company has significantly improved profitability since the beginning of 2024 following transformative changes and has delivered consistent double - digit Adj EBITDA margin % for the past six quarters. ADJ EBITDA MARGIN % ADJ EBITDA $($ millions)

![](image_013.jpg)

Successful Reduction in Debt \| Convertible Notes Paid - off May 1, 2025 • On May 1, 2025, Inseego paid - off the remaining $15m stub outstanding on the Company's convertible notes. • Including debt restructurings that occurred in 2024, the Company has lowered its debt position by more than $125m since January 2024. • The Company's only outstanding debt is $41m in new long - term Senior Secured 9% Notes which mature May 1, 2029. • On August 5, 2025, the Company entered into a $15m (undrawn) working capital facility with BMO Bank that provides additional operating flexibility and liquidity. $41m New Senior Secured Debt $15m Cash 12 = $26m NET DEBT -

![](image_014.jpg)

Q4 2025 GUIDANCE $45.0m - $48.0m Total Revenue $4.0m - $5.0m Adj EBITDA 9 – 10% Implied margin 13 On the Company's Q3 2025 Earnings Call on Nov 6, 2025, the Company provided the following guidance for Total Revenue and Adjusted EBITDA for Q4 2025: Company Guidance \| Q4 2025 (ISSUED: NOV 6, 2025)

![](image_015.jpg)

$24b TAM across the Mobile Broadband and Fixed Wireless Access markets Improved financial profile driving sustainable revenue growth, consistent profitability and cash flow generation Materially reduced debt and right - sized capital structure Unique positioning of products built to meet strict US government requirements in support of the "homegrown" US tech initiative 25+ year track record of wireless technology leadership and strong relationships with Tier 1 Service Providers and Fortune 500 customers Inseego Investment Highlights \| Compelling Trajectory 14

![](image_016.jpg)

APPENDIX

![](image_017.jpg)

NON - GAAP NUMBERS Reconciliations to GAAP Financials

![](image_018.jpg)

Gross Margin & OpEx \| Three - Months Ended September 30, 2025 GAAP TO NON - GAAP RECONCILIATION ($ thousands) GAAP Share - based compensation expense Gain on Early Lease Termination Non - GAAP - $45,893 $- $$45,893 Revenues - 26,716 93 26,809 Cost of revenues $19,177 $19,084 Gross Margin 41.8% 41.6% Gross Margin % - 4,620 258 4,878 Operating costs and expenses: Research and development - 3,998 200 4,198 Sales and marketing (443) 4,833 1,299 5,689 General and administrative 2,164 - - - - - 2,164 - Depreciation and amortization Impairment of cap software 15,615 $(443) $1,757 $16,929 $ Total operating costs & expenses 17

![](image_019.jpg)

Income to Adjusted EBITDA \| Three - Months Ended September 30, 2025 GAAP TO NON - GAAP RECONCILIATION ($ thousands) GAAP Income (loss) from continuing operations Share - based compensation expense Gain on early lease termination Non - GAAP net income (loss) Depreciation and amortization Interest expense, net Other (income) expense, net Income tax provision (benefit) Adjusted EBITDA Three Months Ended September 30, 2025 1,432 1,850 (443) $2,839 2,189 885 (126) (36) 5,751 $18

![](image_020.jpg)

Safe Harbor Statement This presentation contains statements about expected future events that are forward - looking and subject to risks and uncertainties. For these statements, we claim the safe harbor for "forward - looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. For a discussion of factors that could cause actual results to differ materially from expectations, please refer to the risk factors described in our filings with the SEC. Non - GAAP Financial Measures Non - GAAP gross margins, operating expenses, and net income (loss) exclude the impact of share - based compensation expenses, impairments of capitalized software charges, acquisition - related intangible asset amortization, along with certain other non - recurring gains and losses. Adjusted EBITDA, in addition to those items excluded from non - GAAP net income (loss), excludes all interest expense, taxes, depreciation, amortization, and other non - operating income/expense. This presentation contains references to certain non - GAAP financial measures and should be viewed in conjunction with our press releases and supplementary information on our website (www.inseego.com/investors) which present a complete reconciliation of GAAP and Non - GAAP results. 19 Disclaimers

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www.inseego.com NASDAQ: INSG