Inseego (INSG) is set to report third-quarter 2024 results on Nov. 12.For the third quarter, INSG expects revenues of $54-$58 million.The Zacks Consensus Estimate for revenues is currently pegged at $56.30 million, suggesting an increase of 15.89% from the year-ago quarter’s reported figure.For the quarter under review, the consensus mark for earnings has remained steady at 9 cents per share, unchanged over the past 30 days. INSG reported a loss of $1.60 per share in the year-ago quarter.Inseego has a mixed ...

Inseego (INSG) shares have surged 751.7% year to date compared with the Zacks Computer & Technology sector's growth of 25.5% and its Zacks Internet Software industry's return of 26.2%. INSG is gaining from its strong portfolio of high-performance 4G and 5G WAN solutions, including MIFI hotspots, routers and gateways, which provide secure and reliable broadband connectivity. Inseego's mobile portfolio, supported by Inseego Connect and 5G SD EDGE for secure networking, has strengthened its competitive positio ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Eve ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher." Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ...

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Inseego (INSG) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question. Inseego is one of 617 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Za ...

Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phas ...

Inseego (INSG) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving. The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this holding company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisio ...

Inseego (INSG) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. The power of a ch ...

Inseego (INSG) reported $59.15 million in revenue for the quarter ended June 2024, representing a year-overyear increase of 10.4%. EPS of $0.04 for the same period compares to -$0.20 a year ago. The reported revenue represents a surprise of +10.29% over the Zacks Consensus Estimate of $53.63 million. With the consensus EPS estimate being $0.03, the EPS surprise was +33.33%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Financial Data and Key Metrics Changes - Q2 2024 revenue was $59 million, exceeding guidance and showing a 10% year-over-year growth compared to Q2 2023 [3][7] - Adjusted EBITDA for Q2 was $8.4 million, more than double the previous quarter, marking the sixth consecutive quarter of positive adjusted EBITDA [10][11] - Q2 gross margin percentage was 39% on a non-GAAP basis, consistent with the prior quarter and among the highest levels in the past two years [9][10] Business Line Data and Key Metrics Changes - Revenue from the carrier mobile hotspot business increased by 37% year-over-year, driven by a successful MiFi promotion [8] - FWA product revenue remained stable, supported by a last-time 4G buy, while telematics business revenue reached record levels due to strong global demand [8][9] - Services and other revenue saw a significant increase due to a contract renewal with a major customer, which went into effect on April 1st [30] Market Data and Key Metrics Changes - The majority of revenue continues to be North America-centric, with telematics business performing well in Europe and ANZ [40] - The company is focusing on diversifying its customer base beyond major mobile operators, with investments in a value-added reseller channel [34] Company Strategy and Development Direction - The company is committed to improving its capital structure and has successfully restructured a significant portion of its convertible notes, reducing overall debt levels [14][15] - Future growth strategies include expanding revenue diversity and exploring both organic and inorganic opportunities as the company stabilizes [37][38] - The Ignite Channel Program aims to enhance reach into small and medium businesses and government sectors, with a focus on differentiated products [42][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued year-over-year growth in revenue and profitability for Q3, driven by strong demand in mobile broadband products [6][15] - The company is optimistic about its product roadmap and the potential for increased value to customers, supported by a strong capital structure [6][15] Other Important Information - The company voluntarily paid off a restrictive ABL credit facility, enhancing operational flexibility [12] - Cash on hand improved to $49 million as of June 30, 2024, benefiting from higher profitability and a significant upfront payment from a contract renewal [11] Q&A Session Summary Question: Insights on end market demand and sell-through for mobile hotspot sales - Management indicated strong demand and visibility, with inventory levels decreasing as products were shipped [18][19] Question: Sustainability of gross margin improvements - Management attributed gross margin improvements to operational efficiency, product mix, and cost control, indicating sustainability in these areas [20][21] Question: Impact of new hires on operating expenses - Management clarified that new hires were strategically made without significantly increasing overall operating expenses, maintaining control over total headcount [23][24] Question: Sustainability of services revenue increase - Management confirmed that the increase in services revenue was sustainable due to a renewed contract with a major customer [30] Question: Progress on diversification efforts - Management acknowledged the need for diversification and is actively working on building a value-added reseller channel [34] Question: Future M&A considerations - Management indicated that while restructuring is a priority, they are open to exploring M&A opportunities once the company is on solid footing [37][38]