Inseego Q3 revenue $54M cont ops, net income $9M; sells telematics for $52M, restructures 91% of convertible debt

INSEEGO CORP.

2024-Q3 EPS reported $0.23 revenue$143,157,000

Q3 revenue from continuing ops $54.0M (+31% YoY); total revenue incl. discontinued ops $61.9M; GAAP net income $9.0M.
Adjusted EBITDA from continuing ops $6.7M (+230% YoY); total adjusted EBITDA $9.3M.
Agreed to sell telematics business for $52M cash; closing expected Q4 2024.
Restructured 91% of $162M convertible notes via exchange for equity and $41M new senior secured debt; net debt pro forma ~$50M.
Q4 guidance: revenue from continuing ops $43M-$47M, adj EBITDA $3M-$4M.

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