Inseego reported a strong fourth quarter and full year 2025, characterized by sequential revenue growth and improved profitability driven by strategic execution and disciplined expense management. The company highlighted key wins with all three U.S. Tier-1 carriers, positioning it for expanded opportunities in 2026.
Total revenue for Q4 2025 was $48.4 million, up 5.5% sequentially, marking the third consecutive quarter of sequential growth.
positiveAdjusted EBITDA for Q4 2025 was $6.0 million with a margin of 12.4%, up 4.5% sequentially, exceeding guidance.
positiveGAAP gross margin for Q4 2025 was 42.2%, the fourth consecutive quarter exceeding 40%.
positiveEliminated 100% of the Company’s Preferred Stock for $26 million, a 38% discount to its liquidation preference, strengthening the balance sheet.
positiveTotal revenues for the full year 2025 were $166.2 million, a decrease of 13.1% compared to $191.2 million in the full year 2024.
negativeNet income attributable to common stockholders for the full year 2025 was a loss of $2.7 million, compared to a gain of $1.3 million in the full year 2024.
negativeOperating cash flows from continuing operations decreased significantly to $8.1 million in 2025 from $26.7 million in 2024.
negativeInventories decreased to $7.7 million at the end of 2025 from $13.6 million at the end of 2024, but the provision for excess and obsolete inventory was $(1.6) million in 2025.
attentionFull-year 2026 revenue guidance of approximately $190 million indicates a significant ramp-up from 2025 levels, but the Q1 2026 revenue guidance of $33.0 million to $36.0 million represents a sequential decrease from Q4 2025 revenue of $48.4 million.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Mobile solutions | N/A | — | — | — |
Fixed wireless access solutions | N/A | — | — | — |
Product revenues | N/A | — | — | — |
Software services and other | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Q4 was another strong quarter for Inseego, capping a year of strategic growth and disciplined execution.
We exited 2025 with a higher-quality and more diversified revenue base, highlighted by key wins with all three U.S. Tier-1 carriers.
Entering 2026, we have our broadest product portfolio ever aligned with all three Tier-1 carriers and a growing partner ecosystem.
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