Inseego Corp. reported first quarter 2025 revenue of $31.7 million, a decrease from $37.505 million in the same period of 2024. This decline was primarily attributed to a significant decrease in Fixed Wireless Access (FWA) revenues, as a key carrier partner transitioned to a next-generation product and channel sales decreased.
Despite the revenue decline, gross profit margin improved significantly to 47.3% (GAAP) and 47.5% (non-GAAP) from 35.3% in Q1 2024, driven by a more favorable revenue mix. The company reported positive Adjusted EBITDA of $3.7 million and a GAAP Net Loss of $1.6 million, marking its ninth consecutive quarter of positive Adjusted EBITDA.
Inseego provided guidance for the second quarter of 2025, projecting total revenue in the range of $37 million to $40 million and adjusted EBITDA in the range of $2.5 million to $3.5 million. This guidance implies a return to sequential revenue growth, with FWA revenue expected to increase as customer inventory levels normalize and product transitions progress.
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