Inseego Corp. reported third quarter 2024 revenue from continuing and discontinued operations of $61.9 million. The company achieved positive Adjusted EBITDA from continuing and discontinued operations of $9.3 million, alongside a GAAP Net Income of $9.0 million for the quarter.
The company announced it had agreed to sell its telematics business for $52.0 million in cash. Additionally, Inseego executed a convertible debt restructuring, leading to a material reduction in its overall debt burden.
For the fourth quarter of 2024, Inseego provided guidance that excludes the telematics business, as its sale was anticipated to close during that period. These financial and strategic actions position Inseego to focus on its core 5G wireless broadband solutions and improve its capital structure.
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