Inseego Corp. engages in the design and development of fixed and mobile wireless solutions, industrial Internet of Things (IIoT), and cloud solutions for large enterprise verticals, service providers, small and medium-sized businesses, governments, and consumers worldwide. The company provides wireless 4G and 5G hardware products, including private LTE/5G networks, First responders network authority/Firstnet, SD-WAN, telematics, remote monitoring and surveillance, and fixed wireless access and mobile broadband devices. Its products include 4G and 5G fixed wireless routers and gateways, mobile hotspots, and wireless gateways and routers for IIoT applications; and Gb speed 4G LTE hotspots and USB modems, integrated telematics, and mobile tracking hardware devices, which are supported by applications software and cloud services designed to enable customers to analyze data insights and configure/manage their hardware remotely. In addition, the company sells software-as-a-service (SaaS), software, and services solutions in various mobile and IIoT vertical markets comprising fleet management, vehicle telematics, stolen vehicle recovery, asset tracking, monitoring, business connectivity, and subscription management. Its SaaS delivery platforms include telematics, asset tracking, and management platforms which provide fleet, vehicle, aviation, asset, and other telematics applications; and Inseego Subscribe, a hosted SaaS platform that helps organizations in managing the selection, deployment, and spend of their customers wireless assets by helping them to save money on personnel and telecom expenses. Inseego Corp. was founded in 1996 and is based in San Diego, California.
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Here are 1-2 brief analogies to describe Inseego (INSG):
- Netgear for 5G mobile and fixed wireless internet devices: Inseego is known for its MiFi mobile hotspots and fixed wireless access (FWA) routers that bring 5G internet to homes and businesses, similar to how Netgear provides consumer and prosumer networking hardware.
- Sierra Wireless for enterprise 5G and IoT solutions: Inseego also provides industrial IoT gateways, enterprise routers, and device management software, competing in a space similar to Sierra Wireless for secure, high-performance cellular connectivity solutions for businesses.
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- 5G Fixed Wireless Access (FWA) Routers: Hardware devices providing high-speed internet connectivity to homes and businesses via 5G cellular networks.
- 5G Mobile Hotspots (MiFi): Portable hardware devices offering secure, high-speed 5G internet connectivity for multiple users on the go.
- IoT Asset Tracking and Fleet Management Solutions: Integrated hardware and software platforms for real-time monitoring, tracking, and management of vehicles, equipment, and mobile assets (Category: IoT Solutions).
- Cloud-based Device Management Software: A software platform allowing remote configuration, monitoring, and management of Inseego's 5G and IoT devices for enterprises and service providers (Category: Software as a Service (SaaS)).
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Inseego (symbol: INSG) primarily sells its products and services to other companies, specifically wireless carriers, distributors, and direct enterprise customers (B2B).
Its major customer identified in its financial filings is:
- Verizon Communications Inc. (symbol: VZ)
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Qualcomm Incorporated (QCOM)
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Juho Sarvikas, Chief Executive Officer
Juho Sarvikas was appointed Chief Executive Officer for Inseego in January 2025. Prior to joining Inseego, Mr. Sarvikas served as the President of Qualcomm North America since 2021, where he led the company's diversification strategy for the region. Before Qualcomm, he was Chief Product Officer at HMD Global from 2016 to 2021, where, as a founding member, he spearheaded the relaunch of Nokia phones, growing the company to achieve multi-billion dollar revenue. He also held various leadership roles in sales and product management at Nokia and Microsoft.
Steven Gatoff, Chief Financial Officer and GM, Inseego Subscribe
Steven Gatoff was appointed Chief Financial Officer for Inseego in September 2023 and also leads the Company's Subscribe SaaS offering as General Manager. Mr. Gatoff has over 25 years of financial expertise and leadership experience, with a track record of driving value creation for technology and telecom companies. Prior to Inseego, he served as CFO of Edge Case Research, Inc. He has also served as public company CFO at Absolute Software, 8x8, PagerDuty, Rapid7, and iPass. Earlier in his career, he held senior finance roles at United Online, Inc., Sterling Commerce, Inc., and VeriSign. Mr. Gatoff was also an investment banker with several Wall Street firms including Morgan Stanley, Bear Stearns, and Credit Suisse.
David Markland, Chief Product Officer
David Markland joined Inseego as Chief Product Officer, responsible for driving a cohesive and competitive product portfolio strategy. He has 24 years of experience integrating pioneering technology into business-critical and mission-critical applications within the wireless industry. Prior to joining Inseego, he served as Vice President & General Manager of the AirLink Router Business at Semtech, where he was instrumental in developing the smallest rugged 5G router. He also introduced the first 2G GPRS module while at Siemens.
Steve Harmon, Chief Commercial Officer
Steve Harmon joined Inseego in October 2023 and oversees the company's global revenue growth, marketing, and business development strategy. He has over 18 years of experience leading global teams responsible for sales, marketing, and revenue operations. Most recently, Mr. Harmon was the SVP of Global Sales at Sierra Wireless. He also spent six years at BlackBerry as the Managing Director of US Enterprise Sales and was the Global Vice President of Database & Technology Sales at SAP. He began his career at Sybase in various sales roles.
Vishal Donthireddy, Chief Technology Officer
Vishal Donthireddy is Inseego's Chief Technology Officer, responsible for driving strategy and product innovation for the company's cloud-managed enterprise solutions. He began his career at Inseego in 2005 as a software engineer and has contributed to every generation of the company's product portfolio, from 2G to today's cutting-edge 5G Advanced solutions.
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Intensified competition from larger, diversified players resulting from significant market consolidation in the 5G Fixed Wireless Access (FWA) and IoT device sectors. Companies like Ericsson (with Cradlepoint), Semtech (with Sierra Wireless), and Telit Cinterion (formed from the merger of Telit and Thales' IoT business) have established themselves as formidable competitors. These entities possess deeper financial resources, broader product portfolios, and stronger global sales channels and relationships with carriers and enterprises. This trend threatens to commoditize Inseego's specialized hardware offerings, diminish its pricing power, and make it increasingly challenging to secure and maintain large-scale carrier and enterprise contracts, potentially leading to market share erosion and reduced profitability.
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Inseego (NASDAQ: INSG) operates in several key markets, with its primary products and services focusing on 5G Fixed Wireless Access (FWA) solutions and mobile hotspots.
The addressable market sizes for Inseego's main products are as follows:
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5G Fixed Wireless Access (FWA): The global 5G FWA market size was estimated at USD 45.17 billion in 2024 and is projected to reach USD 342.8298 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 40.5% from 2025 to 2030. Another estimate indicates the global 5G FWA market was valued at USD 31.42 billion in 2023 and is expected to grow to approximately USD 327.91 billion by 2030, with a CAGR of 39.8% from 2024 to 2030. The United States accounted for 28.71% of the total 5G Fixed Wireless Access Market revenue in 2023.
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Mobile Hotspots (MiFi devices): The global Mobile Hotspot Router Market is projected to reach USD 89.6 billion by 2035, growing at a CAGR of 11.0% from 2025 to 2035. In 2024, this market was valued at approximately USD 28.4 billion. Another report estimated the global Mobile Hotspot Router Market size at USD 6,703.4 million in 2024, with a projection to reach around USD 27,355.7 million by 2034, at a CAGR of 15.1% from 2025 to 2034. Asia-Pacific dominated the mobile hotspot router market in 2024, holding over 38.1% of the global market share, with revenues of approximately $2,553 million.
Market sizes for Inseego's enterprise SaaS solutions and IoT gateways/modems could not be specifically identified as standalone addressable markets in the provided search results; therefore, this information is null.
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Inseego (NASDAQ: INSG) is poised for future revenue growth over the next 2-3 years, driven by several key strategic initiatives and market expansions. The company's focus on enterprise-grade solutions and recurring revenue streams is expected to fuel this growth.
Here are 3-5 expected drivers of Inseego's future revenue growth:
* Expansion of Fixed Wireless Access (FWA) Solutions: Inseego is experiencing significant growth in its FWA offerings, with FWA revenue exceeding mobile hotspot revenue for three consecutive quarters in 2025. The company's FX4100 product has seen a strong ramp-up following its Q2 2025 launch, and the introduction of the premium FX4200 in Q4 2025 is expected to further bolster FWA growth by creating a higher-value tier and broadening market opportunities. Inseego's FWA shipment volumes were up more than 50% year-over-year in Q3 2025, indicating strong enterprise adoption.
* Growth in Software and Services (SaaS): Inseego is transforming into a solutions company that integrates hardware, network management, and software into a single platform. The company's software services revenue, which includes Inseego Connect MDM cloud offerings and Inseego Subscribe SaaS, has consistently contributed stable, high-margin revenue. This focus on SaaS-enabled solutions is a key growth vector.
* New Product Launches and Portfolio Refresh: Inseego consistently launches new products to expand its portfolio. The successful launch of the FX4100 enterprise-grade wireless router in Q2 2025 and the subsequent introduction of the FX4200 in Q4 2025 are critical for FWA growth. Additionally, a product line refresh and expanded customer set are expected to drive sequential growth in mobile revenue in Q4 2025. These new products are designed to target both business and consumer mobile broadband markets.
* Deepening Partnerships with Tier 1 Carriers: Inseego has been actively expanding its reach through strategic partnerships. The company secured a new Tier 1 U.S. carrier win in Q3 2025, which will begin selling both Inseego's FWA products and a new MiFi device. This addition means Inseego is now aligned with three major U.S. Tier 1 carriers, broadening its market presence and supporting share gains in both FWA and mobile hotspots. These deeper engagements with Tier 1 carriers and MSOs are a significant growth driver.
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Share Repurchases
- In November 2024, Inseego repurchased $55.5 million of its 2025 convertible notes.
- This action was part of a larger capital structure management initiative that reduced the total outstanding 2025 convertible notes by $147 million, or 91%, leaving a remaining balance of approximately $15 million.
Share Issuance
- As part of the convertible notes restructuring in November 2024, Inseego issued 2.4 million shares of common stock.
- In January 2024, Inseego executed a 1-for-10 reverse stock split.
- The company issues equity awards, such as restricted stock units (RSUs), to its directors, with an example being a grant of 8,879 RSUs to a director in October 2025.
Capital Expenditures
- In the 12 months leading up to the third quarter of 2025, Inseego's capital expenditures amounted to approximately -$295,000.
- For the fourth quarter of 2025, the company anticipates increased capital expenditures, primarily driven by investments in Research & Development (R&D) to fund new products and higher capitalized software development costs.
- The primary focus of these expenditures is on developing new products, particularly in 5G Fixed Wireless Access (FWA) and mobile solutions.
