- Inseego has fallen 5.5% postmarket after posting fourth-quarter earnings where profitability fell short of expectations despite a heavy jump in revenues over a year ago.
- Revenues rose 65% to $86.1M on the strength of near-doubled sales in IoT and Mobile Solutions.
- And gross profit jumped to $26.4M from $15M a year ago.
- But operating losses maintained amid higher costs ($8.6M vs. a year-ago loss of $8.7M).
- EBITDA was $7M.
- Revenue breakout: IoT & Mobile Solutions, $72.1M (up 93.2%); Enterprise SaaS Solutions, $13.97M (down 6.9%).
- Cash and equivalents at year-end were $40M.
- Conference call to come at 5 p.m. ET.
- Press release