Inseego (INSG) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $44.0 million, up 9.7% year-over-year and 28% sequentially, driven by strong mobile solutions growth, robust software services, and late-quarter carrier orders.

• Adjusted EBITDA for Q2 2026 was $0.5 million, while GAAP net loss was $8.4 million, reflecting higher operating expenses and transaction costs.

• The company completed launches of its refreshed mobile product family across all three North America Tier-1 carriers and expanded international operations, including new leadership appointments and Amsterdam as the international center.

• The Nokia FWA business acquisition, expected to close in Q4 2026, is anticipated to double revenue and expand global reach and product coverage.

• Completed a preferred stock exchange, eliminating all outstanding preferred stock and reducing future dividend obligations.

Financial highlights

• Q2 2026 total revenue: $44.0 million, with mobile solutions revenue at $17.3 million (up 26% YoY), FWA revenue at $14.4 million, and software services & other revenue at $12.3 million.

• GAAP gross margin for Q2 2026 was 33.8%, with non-GAAP gross margin at 34.4%, impacted by higher memory costs.

• Q2 adjusted EBITDA was $0.5 million (1.2% margin); operating loss was $7.2 million; net loss was $8.4 million ($(0.52) per share).

• Cash and cash equivalents at June 30, 2026: $1.9 million; $10 million drawn on a $20 million working capital facility; $49 million in long-term debt due 2029.

• Net cash used in operating activities for H1 2026 was $22.1 million; net cash used in investing activities was $8.3 million; financing activities provided $7.4 million.

Outlook and guidance

• Full-year 2026 revenue outlook is approximately $155 million, reflecting lower second half expectations due to product delays, slower FWA customer recovery, and removal of MSO revenue.

• Q3 2026 revenue guidance is $28.0 million–$35.0 million, with adjusted EBITDA expected between negative $2.0 million and negative $1.0 million.

• Gross margin is expected to improve in Q3 as memory cost increases are passed through to customers.

• Management highlights risks related to the pending Nokia FWA business acquisition, including integration, regulatory, and execution risks.