Q2 2026 Inseego Corp Earnings Call Transcript
Key Points
- Q2 revenue of $44 million exceeded the high end of guidance, with 28% sequential and 9% year-over-year growth.
- Successfully launched the refreshed mobile broadband family (MiFi Pro MP4) across all three North American Tier 1 carriers and the reseller channel.
- Newest Tier 1 carrier relationship is performing well in both mobile and FWA, reducing reliance on any single customer.
- Subscribe platform achieved CMMC Level 2 certification, a key milestone for supporting U.S. federal government programs.
- Nokia FWA acquisition remains on track for Q4 2026 close, with integration planning progressing and strong customer engagement.
- Full-year 2026 revenue outlook lowered to approximately $155 million due to product delays and slower-than-expected recovery in the largest FWA customer.
- Q3 2026 revenue guidance of $28-$35 million reflects a significant sequential decline, with adjusted EBITDA expected to be negative.
- Gross margin in Q2 was pressured to 34% due to higher-cost memory allocated to a large customer order, impacting profitability.
- Subscribe revenue is expected to decline by approximately $2 million per quarter starting in Q3 as a Tier 1 customer reduces professional services.
- MSO opportunity has been removed from 2026 outlook due to a longer-than-expected sales cycle, with revenue now treated as upside.
Hello, and welcome to Inseego Corp's second-quarter 2026 financial results conference call. Please note that today's event is being recorded. (Operator Instructions) On the call today are Juho Sarvikas, Chief Executive Officer; and Steven Gatoff, Chief Financial Officer.
During this call, certain non-GAAP financial measures will be discussed, a reconciliation to the most directly comparable GAAP financial measures is included in the earnings release, which is available on the investor relations section of the company's website. An audio replay of this call will also be archived there. Please also be advised that today's discussion will contain forward-looking statements.
These forward-looking statements are not historical facts but rather are based on the company's current expectations and beliefs for discussion on factors that could cause actual results to differ materially from the expectations, please refer to the risk factors described in the company's 10-K, 10-Q and other SEC filings, which are available on the company's website. Please also refer to the cautionary note regarding
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