10-Q · May 8, 2026
Inseego reported Q1 2026 revenues of $34.3 million, representing an 8.4% increase year-over-year, with an EPS loss of $0.06, which is better than the expected loss of $0.15. The company experienced strong growth in…
Earnings analysis · 10-Q
INSG earnings analysis
Filed November 5, 2026 · Our reading of the company's report
The latest report
Q3 revenue of $33.263 million and diluted EPS of negative $0.27 beat consensus, but revenue fell approximately 24.4% sequentially from $44 million and approximately 27.7% year over year from $46 million. The extracted…
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Q3 revenue of $33.263 million and diluted EPS of negative $0.27 beat consensus, but revenue fell approximately 24.4% sequentially from $44 million and approximately 27.7% year over year from $46 million. The extracted filing does not provide current-quarter gross margin, operating margin, free cash flow or segment revenue, limiting assessment of profitability and cash generation. The October 1, 2026 FastMile acquisition introduces substantial integration, liability, dilution and regulatory risks, while the company had $48.9 million of senior secured notes outstanding at quarter-end.
Reported figures
- Earnings per share
- $-0.27
What stood out
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Revenue beat consensus
Q3 revenue was $33.263 million, exceeding the $31.1048 million consensus estimate by approximately 6.9%.
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EPS beat consensus
Diluted EPS was negative $0.27 versus the negative $0.36 consensus estimate, an approximately $0.09 per-share beat.
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Revenue remains below prior-year level
Revenue declined from $44 million in Q2 2026 to $33.263 million in Q3 2026, a sequential decrease of approximately 24.4%, and was below the $46 million reported in Q3 2025 by approximately 27.7%.
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FastMile acquisition expands scope
The company completed the FastMile FWA Business acquisition from Nokia on October 1, 2026, expanding its business beyond the quarter-end reporting date.
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Controls remained effective
Disclosure controls and procedures were concluded to be effective as of September 30, 2026, and the company reported no material changes in internal control over financial reporting during the quarter.
What to watch
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Leverage and interest-rate exposure
The company had $48.9 million of outstanding 2029 Senior Secured Notes as of September 30, 2026. If the Working Capital Facility were fully drawn to its $20.0 million maximum, a 1% interest-rate change would alter annualized interest expense by approximately $0.2 million.
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Acquisition integration and dilution
The FastMile acquisition created integration risk: the company issued 1,939,488 common shares and warrants for 781,708 additional shares at an exercise price of $4.26 per share, diluting existing holders and creating potential future dilution.
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Assumed acquisition liabilities
The company assumed certain FastMile liabilities at closing and states that recourse against Nokia may be limited, creating potential exposure to prior contracts, employment matters, litigation, regulatory compliance, customer claims and vendor disputes.
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FCC regulatory restrictions
The FCC updated its Covered List on March 23, 2026 to include all consumer-grade routers produced in foreign countries. The company notes that its routers are believed to be enterprise-grade, but a contrary FCC determination could require redesigns, higher costs, inventory increases or product delays.
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Foreign-currency volatility
Foreign-currency sales represented approximately 1.0% of nine-month revenue, and a hypothetical 10% currency movement would have changed revenue by approximately $0.1 million.
Management's outlook
The extracted 10-Q does not provide quantitative revenue or EPS guidance. The previously reported 8-K disclosed Q4 revenue guidance of $56 million-$65 million and adjusted EBITDA guidance of $0 million-$2 million, but that outlook is not presented in the extracted 10-Q.
Earlier filings 1
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.