Inseego Corp. (INSG) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
9710 SCRANTON ROAD SAN DIEGO, CA 92121 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3669 - Communications Equipment, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments, including: | 7,519 | 7,143 | 46,474 | 40,000 | 12,100 | 31,000 | |||
| Cash and cash equivalents | 7,519 | 7,143 | 46,474 | 40,015 | 12,074 | 31,015 | |||
| Other undisclosed cash, cash equivalents, and short-term investments | (15) | 26 | (15) | ||||||
| Restricted cash and investments | 3,338 | ||||||||
| Receivables | 22,616 | 25,259 | 26,781 | 29,940 | 19,656 | 20,633 | |||
| Inventory, net of allowances, customer advances and progress billings | 22,880 | 37,976 | 37,402 | 33,952 | 25,290 | 26,431 | |||
| Inventory | 22,880 | 37,976 | 37,402 | 33,952 | 25,290 | 26,431 | |||
| Prepaid expense | 1,438 | 778 | 1,993 | ||||||
| Disposal group, including discontinued operation | |||||||||
| Intangible current assets | |||||||||
| Other undisclosed current assets | 3,773 | 7,200 | 11,631 | 10,216 | 7,091 | 6,288 | |||
| Total current assets: | 58,226 | 78,356 | 127,619 | 114,108 | 64,137 | 84,352 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 3,100 | 3,100 | 2,600 | ✕ | |||||
| Operating lease, right-of-use asset | 5,412 | 6,662 | 7,839 | 9,092 | 2,657 | ✕ | |||
| Property, plant and equipment | 2,758 | 5,390 | 8,102 | 13,699 | 10,756 | 6,698 | |||
| Intangible assets, net (including goodwill) | 49,062 | 63,305 | 67,331 | 83,998 | 78,051 | 64,927 | |||
| Goodwill | 21,922 | 21,922 | 20,336 | 32,511 | 33,659 | 32,942 | |||
| Intangible assets, net (excluding goodwill) | 27,140 | 41,383 | 46,995 | 51,487 | 44,392 | 31,985 | |||
| Other noncurrent assets | 1,256 | 488 | 377 | 388 | 387 | 510 | |||
| Other undisclosed noncurrent assets | 5,083 | 1,716 | 1,475 | 3,509 | 5,385 | 5,769 | |||
| Total noncurrent assets: | 63,571 | 80,661 | 88,224 | 113,286 | 97,236 | 77,904 | |||
| TOTAL ASSETS: | 121,797 | 159,017 | 215,843 | 227,394 | 161,373 | 162,256 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 51,817 | 56,963 | 74,830 | 75,712 | 44,343 | 52,269 | |||
| Accounts payable | 24,795 | 29,018 | 48,577 | 52,339 | 26,482 | 39,245 | |||
| Accrued liabilities | 27,022 | 27,945 | 26,253 | 23,373 | 17,861 | 13,024 | |||
| Debt | 4,094 | 187 | 1,412 | ||||||
| Disposal group, including discontinued operation | |||||||||
| Total current liabilities: | 55,911 | 56,963 | 74,830 | 75,712 | 44,530 | 53,681 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 159,912 | 165,346 | 157,866 | 8,285 | 149,580 | 138,800 | |||
| Long-term debt, excluding current maturities | 159,912 | 165,346 | 157,866 | 147,872 | 138,100 | ||||
| Capital lease obligations | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 700 | ||
| Liabilities, other than long-term debt | 8,079 | 6,826 | 8,001 | 14,434 | 2,380 | 3,743 | |||
| Deferred income tax liabilities | 680 | 323 | 852 | 4,505 | ✕ | ||||
| Restructuring reserve | 200 | ||||||||
| Other liabilities | 2,360 | 6,503 | 7,149 | 9,929 | 2,380 | 2,543 | |||
| Operating lease, liability | 5,039 | 8,285 | 1,708 | ✕ | |||||
| Business combination, contingent consideration, liability | 1,000 | ||||||||
| Other undisclosed noncurrent liabilities | 156,862 | 2,241 | 2,557 | ||||||
| Total noncurrent liabilities: | 167,991 | 172,172 | 165,867 | 179,581 | 154,201 | 145,100 | |||
| Total liabilities: | 223,902 | 229,135 | 240,697 | 255,293 | 198,731 | 198,781 | |||
| Equity | |||||||||
| Equity, attributable to parent | (102,105) | (70,118) | (24,854) | (27,808) | (37,238) | (36,390) | |||
| Common stock | 12 | 108 | 105 | 99 | 82 | 74 | |||
| Additional paid in capital | 810,138 | 793,855 | 770,619 | 711,487 | 584,862 | 546,230 | |||
| Accumulated other comprehensive loss | (5,327) | (6,329) | (8,531) | (6,972) | (3,879) | (4,877) | |||
| Accumulated deficit | (906,928) | (857,752) | (787,047) | (732,422) | (618,303) | (577,817) | |||
| Equity, attributable to noncontrolling interest | (91) | (120) | (135) | ||||||
| Total equity: | (102,105) | (70,118) | (24,854) | (27,899) | (37,358) | (36,525) | |||
| TOTAL LIABILITIES AND EQUITY: | 121,797 | 159,017 | 215,843 | 227,394 | 161,373 | 162,256 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 195,688 | 245,323 | 262,399 | 313,832 | 219,496 | 202,463 | ||
| Cost of revenue | (143,234) | (178,414) | (186,474) | (222,989) | (155,525) | (131,866) | ||
| Cost of goods and services sold | (143,234) | (2,614) | (657) | (538) | (980) | (1,040) | ||
| Gross profit: | 52,454 | 66,909 | 75,925 | 90,843 | 63,971 | 70,597 | ||
| Operating expenses | (88,736) | (124,827) | (122,446) | (115,977) | (83,515) | (56,586) | ||
| Operating income (loss): | (36,282) | (57,918) | (46,521) | (25,134) | (19,544) | 14,011 | ||
| Nonoperating income (expense) | 54 | (1,460) | 845 | 292 | 51 | (1,295) | ||
| Loss, foreign currency transaction, before tax | (700) | (300) | (400) | |||||
| Other nonoperating income (expense) | 54 | (1,460) | 845 | 992 | 351 | (895) | ||
| Interest and debt expense | (450) | (432) | (152,708) | |||||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 67,112 | (20,081) | (20,044) | |||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (36,228) | (59,828) | (46,108) | (110,438) | (39,574) | (7,328) | ||
| Other undisclosed loss from continuing operations before income taxes | (9,072) | (8,606) | (1,612) | |||||
| Loss from continuing operations before income taxes: | (45,300) | (68,434) | (47,720) | (110,438) | (39,574) | (7,328) | ||
| Income tax expense (benefit) | (885) | 465 | (191) | (748) | (536) | (815) | ||
| Loss from continuing operations: | (46,185) | (67,969) | (47,911) | (111,186) | (40,110) | (8,143) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (47,911) | (111,186) | (40,110) | (8,143) | |
| Net loss: | (46,185) | (67,969) | (47,911) | (111,186) | (40,110) | (8,143) | ||
| Net income (loss) attributable to noncontrolling interest | (214) | (29) | (15) | 85 | ||||
| Other undisclosed net income attributable to parent | ||||||||
| Net loss attributable to parent: | (46,185) | (67,969) | (48,125) | (111,215) | (40,125) | (8,058) | ||
| Preferred stock dividends and other adjustments | (2,991) | (2,736) | (4,243) | (2,904) | (361) | |||
| Net loss available to common stockholders, basic: | (49,176) | (70,705) | (52,368) | (114,119) | (40,486) | (8,058) | ||
| Dilutive securities, effect on basic earnings per share | ||||||||
| Net loss available to common stockholders, diluted: | (49,176) | (70,705) | (52,368) | (114,119) | (40,486) | (8,058) | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (46,185) | (67,969) | (47,911) | (111,186) | (40,110) | (8,143) | ||
| Other comprehensive loss | (3,093) | |||||||
| Other undisclosed comprehensive income (loss) | 2,202 | (1,559) | ||||||
| Comprehensive loss: | (46,185) | (65,767) | (49,470) | (114,279) | (40,110) | (8,143) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (214) | (29) | (15) | 85 | ||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 1,002 | 1,013 | (9,566) | |||||
| Comprehensive loss, net of tax, attributable to parent: | (45,183) | (65,767) | (49,684) | (114,308) | (39,112) | (17,624) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.