Inseego Q2: revenue $61.9M, GAAP net loss $0.12/sh, gross margin up to 29.5%, $50M credit facility

INSEEGO CORP.

2022-Q2 EPS reported -$0.37 revenue$123,240,000

Q2 net revenue $61.9M; GAAP net loss $12.4M ($0.12/sh); adjusted EBITDA -$1.0M; non-GAAP EPS -$0.09.
Consolidated gross margin 29.5% (up from 27.3% Q1 and 28.0% YoY) on higher enterprise mix.
Closed $50M secured revolving credit facility Aug 5; SOFR+3.50%, matures Dec 31, 2024; $4.5M drawn.
Next-gen 5G mobile hotspot to launch with tier one carrier in North America and Telstra in Q3.
Expects Q3 cash usage significantly lower; targeting cash flow breakeven by year-end 2022.

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