Inseego Q3 revenue rises, beats analyst estimates
Overview
Wireless broadband provider's Q3 revenue rose, beating analyst expectations
Operating income and pretax loss for Q3 missed analyst estimates
Company completed acquisition of Nokia's Fixed Wireless Access business, expanding global reach
Outlook
Inseego sees Q4 2026 revenue between $56 mln and $65 mln
Company expects Q4 2026 adjusted EBITDA of $0 mln to $2 mln
Company says Q4 2026 guidance supersedes all prior guidance
Result Drivers
ENGINEERING AND PRODUCT DELIVERY ISSUES - Co said it is addressing engineering and product delivery problems by restructuring its engineering function and appointing a new CTO
COST REDUCTIONS - Co reduced headcount and contractor spend in October, aiming to cut annual spend by $8 mln
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $33.26 mln | $31.21 mln (3 Analysts) |
Q3 Net Loss | Miss | $8.10 mln | $5.44 mln (2 Analysts) |
Q3 Adjusted EBITDA | Beat | -$1 mln | -$1.99 mln (2 Analysts) |
Q3 Operating Income | Miss | -$7.17 mln | -$4.36 mln (3 Analysts) |
Q3 Pretax Loss | Miss | $8.06 mln | $3.40 mln (3 Analysts) |
Q3 Gross Profit | $11.09 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the communications & networking peer group is "buy"
Wall Street's median 12-month price target for Inseego Corp. is $12.00, about 164.9% above its November 3 closing price of $4.53
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)