The following is a summary of the Inseego Corp. (INSG) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Inseego Corp reported total revenue of $42.8 million for Q4 2023, slightly above guidance.

• The company's fixed wireless access (FWA) business grew by 26% YoY, becoming a $55 million business in 2023.

• A favorable product mix and some one-time adjustments led to a gross margin percentage of 39.7% for the quarter.

• Adjusted EBITDA was surprisingly high at $4.1 million, a result of cost-saving initiatives and a favorable product mix.

• They maintained year-over-year cash levels at $7.5 million and ended the year with a modest draw on their credit facility at $4.1 million.

Business Progress:

• The company is realigning its reporting categories to 'product revenue' and 'services and other revenue' for greater transparency.

• Growth is projected to be driven by the core FWA business following a strategic product portfolio assessment.

• Short term borrowing dynamics are expected to improve through amendments to their ABL facility.

• Inseego is now searching for a new CEO after a change in leadership.

• The company maintains its focus on its 5G mobile and fixed wireless access solutions, intending to nurture strong carrier relationships and expand its services to small and medium-sized businesses.

• Plans are in place to venture into software monetization and device management solutions.

More details: Inseego IR

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