Inseego Corp. (INSG) Financial Statements (2024 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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:7,14346,47440,00012,10031,00021,200
Cash and cash equivalents7,14346,47440,01512,07431,01521,198
Other undisclosed cash, cash equivalents, and short-term investments   (15)26(15)2
Restricted cash and investments  3,338   61
Receivables25,25926,78129,94019,65620,63315,674
Inventory, net of allowances, customer advances and progress billings37,97637,40233,95225,29026,43120,403
Inventory37,97637,40233,95225,29026,43120,403
Prepaid expense7781,993    
Other undisclosed current assets7,20011,63110,2167,0916,2889,099
Total current assets:78,356127,619114,10864,13784,35266,437
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 3,1003,1002,600 
Operating lease, right-of-use asset6,6627,8399,0922,657
Property, plant and equipment5,3908,10213,69910,7566,6986,991
Intangible assets, net (including goodwill)63,30567,33183,99878,05164,92776,352
Goodwill21,92220,33632,51133,65932,94237,681
Intangible assets, net (excluding goodwill)41,38346,99551,48744,39231,98538,671
Other noncurrent assets488377388387510864
Other undisclosed noncurrent assets1,7161,4753,5095,3855,7697,563
Total noncurrent assets:80,66188,224113,28697,23677,90491,770
TOTAL ASSETS:159,017215,843227,394161,373162,256158,207
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities56,96374,83075,71244,34352,26956,890
Accounts payable29,01848,57752,33926,48239,24529,332
Accrued liabilities27,94526,25323,37317,86113,02427,558
Debt    1871,4123,075
Total current liabilities:56,96374,83075,71244,53053,68159,965
Noncurrent Liabilities
Long-term debt and lease obligation165,346157,8668,285149,580138,800129,426
Long-term debt, excluding current maturities165,346157,866 147,872138,100128,828
Capital lease obligations700598
Liabilities, other than long-term debt6,8268,00114,4342,3803,74310,268
Deferred income tax liabilities3238524,505 
Restructuring reserve     200500
Other liabilities6,5037,1499,9292,3802,5439,768
Operating lease, liability   8,2851,708
Business combination, contingent consideration, liability     1,000 
Other undisclosed noncurrent liabilities   156,8622,2412,5574,163
Total noncurrent liabilities:172,172165,867179,581154,201145,100143,857
Total liabilities:229,135240,697255,293198,731198,781203,822
Equity
Equity, attributable to parent(70,118)(24,854)(27,808)(37,238)(36,390)(45,565)
Common stock10810599827459
Additional paid in capital793,855770,619711,487584,862546,230519,531
Accumulated other comprehensive income (loss)(6,329)(8,531)(6,972)(3,879)(4,877)4,604
Accumulated deficit(857,752)(787,047)(732,422)(618,303)(577,817)(569,759)
Equity, attributable to noncontrolling interest   (91)(120)(135)(50)
Total equity:(70,118)(24,854)(27,899)(37,358)(36,525)(45,615)
TOTAL LIABILITIES AND EQUITY:159,017215,843227,394161,373162,256158,207

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues245,323262,399313,832219,496202,463219,297
Revenue, net219,297
Cost of revenue(178,414)(186,474)(222,989)(155,525)(131,866)(151,962)
Cost of goods and services sold(2,614)(657)(538)(980)(1,040)(152,231)
Gross profit:66,90975,92590,84363,97170,59767,335
Operating expenses(124,827)(122,446)(115,977)(83,515)(56,586)(89,549)
Operating income (loss):(57,918)(46,521)(25,134)(19,544)14,011(22,214)
Nonoperating income (expense)(1,460)84529251(1,295)(3,680)
Gain (loss), foreign currency transaction, before tax   (700)(300)(400)200
Other nonoperating income (expense)(1,460)845992351(895)(4,080)
Interest and debt expense (450)(432)(152,708)  (2,035)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes   67,112(20,081)(20,044)(17,697)
Loss from continuing operations before equity method investments, income taxes:(59,828)(46,108)(110,438)(39,574)(7,328)(45,626)
Other undisclosed loss from continuing operations before income taxes(8,606)(1,612)    
Loss from continuing operations before income taxes:(68,434)(47,720)(110,438)(39,574)(7,328)(45,626)
Income tax expense (benefit)465(191)(748)(536)(815)(214)
Loss from continuing operations:(67,969)(47,911)(111,186)(40,110)(8,143)(45,840)
Loss before gain (loss) on sale of properties:(47,911)(111,186)(40,110)(8,143)(45,840)
Net loss:(67,969)(47,911)(111,186)(40,110)(8,143)(45,840)
Net income (loss) attributable to noncontrolling interest  (214)(29)(15)85105
Net loss attributable to parent:(67,969)(48,125)(111,215)(40,125)(8,058)(45,735)
Preferred stock dividends and other adjustments(2,736)(4,243)(2,904)(361)  
Net loss available to common stockholders, diluted:(70,705)(52,368)(114,119)(40,486)(8,058)(45,735)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(67,969)(47,911)(111,186)(40,110)(8,143)(45,840)
Other comprehensive loss   (3,093)   
Other undisclosed comprehensive income (loss)2,202(1,559)    
Comprehensive loss:(65,767)(49,470)(114,279)(40,110)(8,143)(45,840)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest  (214)(29)(15)85105
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   1,013(9,566)5,908
Comprehensive loss, net of tax, attributable to parent:(65,767)(49,684)(114,308)(39,112)(17,624)(39,827)

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.

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