INSEEGO CORP. (INSG): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da conectividade sem fio, a INSEEGO Corp. (INSG) surge como um jogador fundamental, transformando como as empresas e os consumidores experimentam tecnologias 5G e IoT. Com um modelo de negócios estratégico que preenche a inovação de ponta e as soluções orientadas pelo mercado, esta empresa está redefinindo a comunicação sem fio por meio de hotspots móveis de alto desempenho, produtos de networking de classificação corporativa e plataformas de conectividade avançada que atendem a diversos segmentos de clientes que variam de organizações governamentais para pequenas empresas e consumidores individuais.

INSEEGO CORP. (INSG) - Modelo de negócios: parcerias -chave

Parcerias portadoras de telecomunicações

A INSEEGO Corp. mantém parcerias estratégicas com as principais operadoras de telecomunicações:

Operadora	Detalhes da parceria	Tecnologia de rede
Verizon	5G Soluções de acesso sem fio fixo (FWA)	Redes 4G LTE e 5G
AT&T	Dispositivos de hotspot para dispositivos móveis corporativos	Cobertura sem fio em todo o país

Fabricantes de equipamentos originais (OEMs)

A INSEEGO colabora com OETs de IoT e 5G de dispositivos:

• Sierra sem fio
• Qualcomm Technologies
• Netgear

Provedores de serviços em nuvem

Provedor de nuvem	Recursos de integração	Tipo de serviço
Amazon Web Services (AWS)	Gerenciamento de dispositivos de IoT	Infraestrutura em nuvem
Microsoft Azure	Soluções de conectividade corporativa	Serviços de plataforma em nuvem

Fornecedores de componentes de tecnologia

• Qualcomm Snapdragon X55 5G modem
• MediaTek Dimensidade 5G Chipsets
• Componentes de rede sem fio da Intel

Total de parcerias estratégicas: 12 colaborações confirmadas em nível corporativo a partir de 2024

INSEEGO CORP. (INSG) - Modelo de negócios: Atividades -chave

Projeto e desenvolvimento de pontos de acesso móveis 5G e dispositivos sem fio

A partir do quarto trimestre de 2023, a INSEEGO Corp. investiu US $ 18,7 milhões em pesquisa e desenvolvimento para tecnologias de dispositivos sem fio. A empresa se concentra na criação de hotspots móveis 5G avançados com especificações técnicas específicas:

Tipo de dispositivo	Largura de banda	Velocidade	Custo de desenvolvimento
5G Mobile Hotspot MiFi M2000	Sub-6 ghz e mmwave	Até 2,7 Gbps	US $ 4,2 milhões
Roteador corporativo 5G	Suporte de várias bandas	Até 3,5 Gbps	US $ 5,6 milhões

Pesquisa e inovação em tecnologias de conectividade da IoT

A INSEEGO Corp. alocou US $ 22,3 milhões para pesquisas de conectividade da IoT em 2023, com áreas de foco importantes:

• Integração da computação de borda
• Algoritmos avançados de otimização de rede
• Protocolos de comunicação segura da IoT
• Tecnologias de transmissão sem fio de baixa latência

Fabricação e produção de equipamentos de rede sem fio

Métricas de fabricação para 2023:

Categoria de produto	Unidades produzidas	Custo de produção	Receita gerada
5G hotspots móveis	275.000 unidades	US $ 37,5 milhões	US $ 89,6 milhões
Dispositivos de rede corporativa	125.000 unidades	US $ 28,3 milhões	US $ 67,4 milhões

Desenvolvimento de software para soluções de conectividade corporativa e de consumo

Investimento de desenvolvimento de software em 2023:

• Despesas totais de P&D: US $ 26,9 milhões
• Engenheiros de software: 187 funcionários
• Plataformas desenvolvidas:
  • Plataforma de gerenciamento de conectividade corporativa
  • Software de otimização de rede de consumo
  • Sistema de gerenciamento de dispositivos remotos

INSEEGO CORP. (INSG) - Modelo de negócios: Recursos -chave

Portfólio de propriedade intelectual em tecnologias sem fio

A partir do quarto trimestre 2023, a INSEEGO Corp. possui 283 patentes ativas em tecnologias de comunicação sem fio. O portfólio de patentes é avaliado em aproximadamente US $ 47,3 milhões.

Categoria de patentes	Número de patentes	Valor estimado
Tecnologias 5G	127	US $ 22,6 milhões
Comunicação da IoT	89	US $ 15,4 milhões
Rede sem fio	67	US $ 9,3 milhões

Equipes de engenharia e P&D

A força de trabalho de P&D da INSEEGO a partir de 2024:

• Pessoal total de P&D: 312 funcionários
• Ph.D. Titulares: 47
• Titulares de mestrado: 124
• Experiência média de P&D: 8,6 anos

Investimento de P&D em 2023: US $ 58,2 milhões, representando 18,4% da receita total da empresa.

Recursos de fabricação avançados

Instalação de fabricação	Localização	Capacidade de produção anual
Fábrica primária	San Diego, Califórnia	2,4 milhões de dispositivos sem fio
Unidade de fabricação secundária	Tijuana, México	1,1 milhão de dispositivos sem fio

Patentes estratégicas em tecnologias de comunicação sem fio

Distribuição de patentes por segmento de tecnologia:

• 5G Infraestrutura de rede: 42 patentes
• Soluções de conectividade da IoT: 36 patentes
• Enterprise Wireless Systems: 28 patentes
• Mobile Hotspot Technologies: 22 patentes

Receita de licenciamento do portfólio de patentes em 2023: US $ 6,7 milhões.

INSEEGO CORP. (INSG) - Modelo de negócios: proposições de valor

Hotspots móveis 5G de alto desempenho e soluções sem fio

A INSEEGO oferece dispositivos de acesso móvel 5G com as seguintes especificações:

Produto	Baixar velocidade	Duração da bateria	Conectividade
MiFi M2000 5G	Até 2,7 Gbps	24 horas	5G/4G LTE
Roteador corporativo 5G	Até 4 Gbps	Poder contínuo	Suporte de várias portadoras

Conectividade de IoT de grau corporativo e produtos de rede

Soluções de conectividade da IoT com os principais recursos:

• Equipamento de rede de nível industrial
• Suporte ao SIM de múltiplas portadores
• Design de dispositivo robusto

Categoria de produto	Receita anual (2023)	Penetração de mercado
Soluções corporativas IoT	US $ 87,4 milhões	12,5% de participação de mercado

Recursos de segurança avançada para comunicação sem fio

Os recursos de segurança incluem:

• Criptografia de nível militar
• Integração da VPN
• Gerenciamento de nuvem segura

Soluções de conectividade flexíveis e escaláveis

Métricas de solução de conectividade:

Tipo de solução	Intervalo de escalabilidade	Tamanho médio do cliente
Conectividade comercial	10-10.000 dispositivos	250 conexões simultâneas

INSEEGO CORP. (INSG) - Modelo de negócios: Relacionamentos do cliente

Vendas diretas para clientes corporativos e governamentais

A partir do quarto trimestre de 2023, a INSEEGO Corp. reportou receita de vendas da empresa direta de US $ 37,6 milhões, com foco nos principais mercados verticais.

Segmento de clientes	Valor anual do contrato	Número de clientes ativos
Clientes corporativos	US $ 22,4 milhões	342 clientes ativos corporativos
Clientes do governo	US $ 15,2 milhões	87 contratos de agência governamental

Suporte on -line e assistência técnica

A INSEEGO fornece suporte técnico multicanal com as seguintes métricas:

• Disponibilidade on -line de suporte on -line 24/7
• Tempo médio de resposta: 45 minutos
• Equipe de suporte ao cliente: 127 profissionais de suporte técnico dedicado

Programas de parceiros de canal com fornecedores de telecomunicações

Parceiro de telecomunicações	Tipo de parceria	Contribuição anual da receita
Verizon	Parceria estratégica	US $ 18,3 milhões
AT&T	Parceiro certificado	US $ 12,7 milhões
T-Mobile	Provedor de soluções	US $ 9,5 milhões

Portais de autoatendimento para gerenciamento e suporte de produtos

Estatísticas da plataforma de autoatendimento digital:

• Usuários ativos mensais: 14.672
• Frequência média mensal de login: 3,4 vezes por usuário
• Classificação de satisfação do portal do cliente: 4.2/5

INSEEGO CORP. (INSG) - Modelo de Negócios: Canais

Equipe direta da equipe de vendas direcionando clientes corporativos

Intereego Corp. mantém um Equipe de vendas empresariais dedicadas focado na venda de soluções 5G e produtos de conectividade corporativa.

Métricas de canal de vendas	2023 dados
Representantes de vendas corporativos	42 profissionais de vendas diretas
Tamanho médio de negócios empresarial	US $ 275.000 por contrato
Custo da aquisição de clientes corporativos	US $ 48.300 por novo cliente corporativo

Redes de distribuição de transportadoras de telecomunicações

A INSEEGO aproveita parcerias estratégicas com as principais operadoras de telecomunicações.

• Verizon sem fio
• AT&T
• T-Mobile

Detalhes da parceria da operadora	2023 Estatísticas
Parcerias de transportadoras ativas	7 transportadoras de telecomunicações nacionais
Receita de canais de transportadora	US $ 186,4 milhões

Plataformas online de comércio eletrônico

A INSEEGO utiliza vários canais de vendas digitais para compras diretas de consumidores e negócios.

• Site da empresa
• Amazon Business
• Mercados de tecnologia B2B

Performance de canal de vendas on -line	2023 Métricas
Volume de vendas on -line	US $ 62,7 milhões
Taxa de conversão	3.8%

Revendedores autorizados e distribuidores de tecnologia

A INSEEGO mantém uma rede abrangente de revendedores e distribuidores de tecnologia autorizados.

Estatísticas de rede de revendedores	2023 dados
Revendedores autorizados totais	214 distribuidores de tecnologia global
Receita do canal do revendedor	US $ 97,3 milhões
Tamanho médio de negócios do revendedor	$45,600

INSEEGO CORP. (INSG) - Modelo de negócios: segmentos de clientes

Clientes de telecomunicações corporativas e de negócios

A INSEEGO Corp. tem como alvo os clientes corporativos com soluções avançadas de conectividade 5G e IoT. A partir do quarto trimestre 2023, a empresa relatou segmentos de clientes corporativos com as seguintes características:

Tipo de segmento	Contribuição anual da receita	Principais indústrias
Grandes clientes corporativos	US $ 47,3 milhões	Tecnologia, saúde, finanças
Empresa do mercado intermediário	US $ 22,6 milhões	Logística, fabricação

Organizações do governo e do setor público

A INSEEGO fornece soluções de conectividade especializadas para agências governamentais.

• Contratos do governo federal: US $ 18,2 milhões em 2023
• Implantações do governo estadual e local: US $ 12,7 milhões
• Soluções críticas de conectividade de infraestrutura

Pequenas e médias empresas

O segmento SMB representa uma parte significativa da base de clientes da INSEEGO:

Tamanho comercial	Contagem de clientes	Gasto médio anual
Pequenas empresas	3,700	$5,400
Empresas médias	1,200	$17,600

Mercados de conectividade móvel e remotos de consumo

Desempenho do segmento de consumidores em 2023:

• Receita total do mercado do consumidor: US $ 34,5 milhões
• 5G Mobile Hotspot Dispositivos vendidos: 128.000 unidades
• Soluções de conectividade do trabalho remoto: US $ 9,2 milhões

Receita total do segmento de clientes para 2023: US $ 133,5 milhões

INSEEGO CORP. (INSG) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a INSEEGO Corp. relatou despesas de pesquisa e desenvolvimento de US $ 29,1 milhões.

Ano fiscal	Despesas de P&D ($)
2023	29,100,000
2022	33,700,000

Custos de fabricação e produção

Os custos totais de fabricação e produção da empresa para 2023 foram de aproximadamente US $ 45,2 milhões.

• Custo dos bens vendidos (engrenagens): US $ 92,4 milhões em 2023
• Manufatura de sobrecarga: US $ 12,6 milhões
• Custos de mão -de -obra direta: US $ 8,5 milhões

Investimentos de vendas e marketing

A Inteseego Corp. gastou US $ 33,7 milhões em atividades de vendas e marketing em 2023.

Categoria de despesa	Valor ($)
Pessoal de vendas	15,200,000
Campanhas de marketing	12,500,000
Tecnologia de marketing	6,000,000

Despesas gerais operacionais e despesas administrativas

As despesas operacionais e administrativas totais para 2023 foram de US $ 37,5 milhões.

• Custos administrativos gerais: US $ 22,3 milhões
• Despesas de infraestrutura corporativa: US $ 9,2 milhões
• Taxas de serviços profissionais: US $ 6,0 milhões

Despesas operacionais totais para 2023: US $ 145,5 milhões

INSEEGO CORP. (INSG) - Modelo de negócios: fluxos de receita

Vendas de produtos de hotspots móveis 5G

No terceiro trimestre de 2023, a INSEEGO reportou vendas de produtos da 5G Mobile Hotspot, totalizando US $ 30,4 milhões. O ponto de acesso Mobile Mobile Mobile Mobile representa um fluxo de receita de hardware importante para a empresa.

Categoria de produto	Receita (Q3 2023)	Volume de vendas
5G hotspots móveis	US $ 30,4 milhões	Aproximadamente 45.000 unidades

Serviços de assinatura recorrentes para conectividade da IoT

INSEEGO gerado US $ 15,2 milhões em receitas recorrentes de assinatura de conectividade da IoT Durante o terceiro trimestre de 2023.

• Assinaturas de conectividade da IoT da empresa
• Serviços de plataforma de gerenciamento em nuvem
• Serviços de rede gerenciados

Licenciamento da solução corporativa

Licenciamento da solução corporativa contribuída US $ 12,7 milhões para a receita da INSEEGO No terceiro trimestre de 2023.

Tipo de licenciamento	Contribuição da receita
Licenciamento de software	US $ 7,3 milhões
Licenciamento da solução corporativa	US $ 5,4 milhões

Portfólio de produtos de hardware e software

A receita total para a INSEEGO no terceiro trimestre de 2023 foi US $ 58,3 milhões, com diversas contribuições do portfólio de produtos.

• Dispositivos CPE da 5G Enterprise: US $ 22,1 milhões
• Mobile Hotspot Dispositivos: US $ 30,4 milhões
• Serviços de conectividade da IoT: US $ 15,2 milhões
• Software e licenciamento: US $ 12,7 milhões

Inseego Corp. (INSG) - Canvas Business Model: Value Propositions

You're looking at how Inseego Corp. is structuring its value delivery as of late 2025. The numbers from the third quarter of 2025 definitely show a clear pivot toward enterprise and recurring revenue streams.

Here's a quick look at the financial backdrop from Q3 2025:

Metric	Amount (USD)	Context
Total Revenue	$45.9 million	Q3 2025 Total Revenue, up 14% sequentially.
FWA Revenue	$17.7 million	Q3 2025 Fixed Wireless Access Revenue.
Software Services Revenue	$12.2 million	Q3 2025 Software Services & Other Revenue.
Software Revenue % of Total	27%	Software Services & Other Revenue as a percentage of total revenue in Q3 2025.
Non-GAAP Gross Margin	41.8%	Q3 2025 Non-GAAP Gross Margin.
Adjusted EBITDA	$5.8 million	Q3 2025 Adjusted EBITDA, representing a 12.5% margin.

Enterprise-grade, secure 5G Fixed Wireless Access (FWA) routers.

Inseego Corp. is delivering hardware built for enterprise needs, evidenced by the strong demand for its FWA products. In Q3 2025, FWA revenue hit $17.7 million, which was a significant 81% year-over-year growth. You see this focus in the launch of the premium FX4200 enterprise FWA solution, which is designed to bridge complexity gaps for small- and mid-size enterprises. The company is also positioning its hardware, like the FX3110, with features such as dual SIM capability, dual-band Wi-Fi 6, support for up to 64 wireless connections, and advanced security features like encryption, VPN/ZTNA support, and TAA compliance. This FWA segment is clearly outpacing mobile solutions in the current mix.

Cloud-managed network solutions for centralized device monitoring.

The value proposition heavily leans on management capabilities, which directly ties into the software segment. The company is scaling its cloud-managed wireless broadband solutions to drive sustainable growth. This is supported by the Inseego Connect SaaS platform, which is updated alongside new hardware like the FX4200. The Software Services & Other Revenue segment, which includes cloud offerings like Inseego Connect MDM, was a consistent $12 million in Q3 2025, providing stable, high-margin revenue. This cloud management is key for MSPs and VARs looking for easy-to-deploy and easy-to-manage FWA solutions.

High-performance mobile broadband (MiFi) for business continuity.

While FWA is leading the charge, the mobile broadband (MiFi) segment still contributes meaningfully to the top line. In Q3 2025, solid volumes of the MiFi M3100 contributed to the total revenue. The company secured a new Tier-1 U.S. carrier customer to stock both mobile and FWA next-generation products, with mobile shipments expected to start in Q1 2026. This mobile offering is positioned for business continuity, often as a failover connection. The overall market context shows that FWA is seen as a clear alternative to legacy POTS lines, of which there are over 1 billion in North America alone.

End-to-end hardware plus high-margin software integration.

Inseego Corp. is evolving into a solutions company that integrates hardware, network management, and software into a single platform. The financial structure reflects this strategy; Software Services & Other Revenue accounted for 27% of total Q3 2025 revenue at $12.2 million. This high-margin software component helps support the overall Non-GAAP gross margin, which was a solid 41.8% in Q3 2025. The strategy is to combine hardware like the FX4100 or FX4200 with software platforms like Inseego Connect and Inseego Subscribe to create sticky, high-value enterprise offerings. This integration is what helps drive the operating leverage, leading to an Adjusted EBITDA of $5.8 million in the quarter.

The value proposition centers on delivering high-performance, secure wireless connectivity managed through a scalable cloud platform, which is clearly reflected in the revenue mix shift and margin performance. Finance: draft 13-week cash view by Friday.

Inseego Corp. (INSG) - Canvas Business Model: Customer Relationships

Inseego Corp. maintains relationships through dedicated sales structures tailored to its primary carrier partners and its growing B2B/B2G customer base.

Dedicated carrier sales and account management teams.

Inseego Corp. bolstered its Carrier Sales team in May 2025 by appointing two Vice Presidents with deep 5G ecosystem relationships to accelerate growth with Tier-1 carrier alliances. The relationship management with existing key partners is ongoing, as evidenced by the renewal of stocked MiFi products with two existing Tier 1 carrier customers in Q2 2025. Furthermore, the company secured a new Tier-1 U.S. carrier customer in Q3 2025, with FWA shipments anticipated to start late in Q4 2025.

B2B/B2G focus emphasizing long-term, high-touch relationships.

Inseego Corp. serves thousands of enterprise and SMB customers across its 4G, 5G, and cloud platforms. The focus on enterprise and government (B2G) is concrete, as seen by the deployment of its wireless subscriber management solution, Inseego Subscribe, with a large carrier supporting several million end users primarily servicing government and enterprise accounts in North America. A significant high-touch win in Q2 2025 included closing a multi-million-dollar enterprise agreement with an industrial S&P 500 company. The company also expanded Fixed Wireless Access (FWA) deployments with T-Mobile across multiple industries.

The scale of the customer base and key commercial metrics as of late 2025 is summarized below:

Customer Type/Metric	Data Point (As of Q3 2025 or Latest Report)
Total Enterprise/SMB Customers	Thousands
Tier-1 Carrier Customers (Mobile/FWA Stocking)	Two existing renewed, one new secured in Q3 2025
Government/Enterprise Users (Inseego Subscribe)	Several million end users
Q3 2025 Total Revenue	$45.9 million
Q3 2025 Adjusted EBITDA	$5.8 million

Self-service via Inseego Connect cloud management platform APIs.

The Inseego Connect SaaS platform is integral to the offering, with its feature set significantly upgraded for the third-generation FX4100 router launched in Q2 2025. The platform supports self-service and integration through its APIs, as demonstrated by Kajeet leveraging these APIs to combine management platforms for a single view. Services revenue, which includes Inseego Connect, remained durable, holding around ~$12 million in Q2 2025 and projected to remain steady for Q3 2025 guidance.

Technical support for enterprise-level deployment and integration.

Inseego Corp. provides solutions designed for enterprise-grade deployment, such as the FX4100 enterprise-grade wireless router and the new FX4200 enterprise FWA solution launched in Q3 2025. The company's offerings are designed for simple deployment and central management, as seen with the Kajeet SmartFailover service which is described as preconfigured and easily deployed. The overall strategy is supported by a focus on operational discipline and scalable go-to-market execution, reinforced by key leadership hires in Supply Chain and Business Development in 2025.

Inseego Corp. (INSG) - Canvas Business Model: Channels

You're looking at how Inseego Corp. gets its 5G and IoT solutions into the hands of customers as of late 2025. It's a mix of deep carrier relationships and a growing push through partners.

Direct sales to Tier-1 U.S. mobile network operators (MNOs) remain a foundational part of the business, especially for mobile broadband (MiFi) and Fixed Wireless Access (FWA) products that get stocked by carriers.

For instance, in Q2 2025, Inseego Corp. successfully renewed its stocked MiFi products with two existing Tier 1 carrier customers. Furthermore, the company expanded its carrier footprint by adding a new Tier 1 carrier customer to stock both mobile and FWA next-generation products, with shipments expected to start late in 2025. This carrier focus is key, as the Q2 2025 FWA revenue of $14.511 million surpassed mobile hotspot revenue of $13.7 million for only the second time in company history, validating the enterprise-grade FWA strategy tied to these MNO relationships.

The indirect route, through MSOs, MSPs, and VARs via the Inseego Ignite program, is seeing a strategic overhaul. The company is actively revamping Ignite to make channel business a "very meaningful" portion of its overall revenue going forward. This program now targets specific groups: strategic service providers, mobility connectivity VARs, and global IT resellers.

This channel push is already yielding results. In Q2 2025, Inseego Corp. closed a multi-million-dollar enterprise agreement with an industrial S&P 500 company, which was specifically facilitated through one of its Inseego Ignite channel partners. This shows the channel is effective for moving hardware bundled with Inseego Connect software into large commercial deployments.

For Direct sales to large enterprise and government entities, the focus is on high-value, complex deployments, often leveraging the software platform alongside the hardware. The Q2 2025 multi-million-dollar deal mentioned above, while facilitated by a partner, represents a direct win into a large enterprise segment. Inseego Corp. also announced an expanded outdoor FWA presence through a strategic agreement supporting rural connectivity for one of the nation's leading poultry producers, powered by Inseego Connect.

Here's a quick look at the financial context surrounding these sales efforts through the first three quarters of 2025:

Metric	Q2 2025 Value	Q3 2025 Value	Channel Relevance Note
Total Revenue	$40.2 million	$45.9 million	Sequential growth of 14% in Q3 2025
FWA Solutions Revenue	$14.511 million	Not explicitly broken out	Surpassed Mobile Solutions revenue in Q2 2025
Services Revenue (Connect/Subscribe)	$12.040 million	Steady at ~$12 million outlook for Q3 2025	Underpins hardware sales across all channels
New Tier-1 Carrier Wins	Two renewed + one new (shipments late 2025)	One new Tier-1 U.S. carrier secured	Direct MNO Channel Growth
Channel Partner Deal Value	Multi-million-dollar enterprise agreement closed	Ignite program being revamped for growth	Indirect Channel Traction

The company is clearly pushing to diversify away from being solely carrier-dependent, aiming for channel sales to become a much larger piece of the pie. If onboarding channel partners takes longer than expected, revenue acceleration could slow, defintely something to watch into Q4 2025.

Finance: draft 13-week cash view by Friday.

Inseego Corp. (INSG) - Canvas Business Model: Customer Segments

You're looking at how Inseego Corp. (INSG) segments its paying customers as of late 2025. It's a mix of big connectivity players and direct enterprise users, all moving to 5G.

Major telecommunication Service Providers (Tier-1 carriers) represent a core channel for Inseego Corp.'s mobile broadband and Fixed Wireless Access (FWA) products. You see the direct impact of these relationships in the financial results.

• Secured a new Tier-1 U.S. carrier customer in Q3 2025 to stock both mobile and FWA next-generation products.
• Renewed stocked MiFi products with two existing Tier 1 carrier customers during Q2 2025.
• Expanded carrier footprint by adding a new Tier 1 carrier customer in Q2 2025, with shipments expected to begin late in 2025.
• The company's software services revenue, which includes cloud management for devices, was a consistent $12 million in Q3 2025.

Large Enterprises across transportation, logistics, and retail, alongside Small to Medium Businesses (SMBs) utilizing FWA/MiFi, form the direct enterprise and SMB customer base. Inseego Corp. explicitly targets Fortune 500 enterprises and SMBs with its 5G solutions.

• Closed a multi-million-dollar enterprise agreement with an industrial S&P 500 company in Q2 2025.
• Saw strong initial sales momentum for the FX4100 FWA router, which was designed for T-Mobile for Business.
• Launched the FX4200 5G solution, specifically targeting small- and mid-size enterprises.
• The overall strategy is scaling the FWA and MiFi business, which serves these segments.

Government Entities and Federal Agencies (B2G focus) are also explicitly mentioned as a target market for Inseego Corp.'s 5G mobile and fixed wireless solutions. The company notes its solutions provide unmatched security and reliability for government agencies.

Here's a quick look at the financial scale supporting these customer segments as of the latest reported quarter:

Metric	Value (Q3 2025)	Context
Total Revenue	$45.9 million	Second consecutive quarter of sequential growth
Trailing Twelve Months Revenue (TTM)	$165.88 million	Ending September 30, 2025
Software Services Revenue	$12 million	Consistent contribution from Inseego Connect and Subscribe SaaS
GAAP Gross Margin	41.6%	Third consecutive quarter exceeding 40%
Adjusted EBITDA	$5.8 million	Up 22% sequentially

The growth in FWA products, like the FX4100, is a key driver, with FWA shipments expected to begin for the new Tier-1 carrier late in Q4 2025.

Inseego Corp. (INSG) - Canvas Business Model: Cost Structure

You're looking at the major drains on Inseego Corp.'s cash flow as they push their 5G/FWA roadmap. The cost structure here is heavily weighted toward product development and the physical manufacturing of those high-performance devices.

Significant R&D investment in new 5G/FWA product defintely development.

Inseego Corp. is clearly prioritizing future product cycles. You see this commitment reflected in the successful launch of the third-generation FX4100 router and the new X700 mesh Wi-Fi nodes in Q2 2025. While the exact R&D spend isn't broken out in the immediate reports, the focus is on accelerating the software and services roadmap, specifically mentioning Inseego Connect SaaS and Inseego Subscribe, which means ongoing investment in cloud platform development alongside hardware.

Cost of Goods Sold (COGS) for high-performance hardware manufacturing.

The cost of making the hardware is a primary driver. We don't have the absolute COGS figure, but the GAAP gross margin for Q2 2025 was reported at 41.1%, which is the first step in understanding the cost relative to revenue. This margin performance is noted as being supported by a favorable revenue mix, suggesting that higher-margin services revenue helps offset the cost intensity of the hardware manufacturing itself.

Sales and Marketing (S&M) spend to drive carrier and channel growth.

Driving adoption with Tier-1 carriers and channel partners requires significant go-to-market spending. The company mentioned disciplined OpEx in Q2 2025, but also stated OpEx is expected to go up in Q3 2025 to drive growth. This spend supports securing new Tier-1 wins, like the one announced for both mobile and FWA products starting later in 2025, and pushing the FX4100 traction.

Operating expenses (OpEx) for cloud platform and software maintenance.

Beyond direct product costs, the ongoing operational expenses cover the software ecosystem. Maintaining and upgrading the Inseego Connect SaaS feature set and the underlying cloud infrastructure is a necessary, recurring cost. The CFO noted that Q3 2025 guidance includes OpEx increasing to support growth initiatives, which covers these software and operational overheads.

Debt servicing; total debt was around $41 million in Q2 2025.

Managing the balance sheet is a cost factor. In Q2 2025, Inseego Corp. reported total debt of approximately $41 million. This followed a significant capital structure move where they paid off a $14.9 million balance of the 2025 Convertible Notes in that quarter. Debt servicing costs, which are often excluded from Adjusted EBITDA calculations, remain a real cash outlay.

Here's a quick look at how the cost structure translated into top-line results and profitability in the second quarter of 2025, and what they expect next:

Metric	Q2 2025 Actual	Q3 2025 Guidance Range
Total Revenue	$40.2 million	$40.0 million to $43.0 million
GAAP Gross Margin	41.1%	Largely consistent
Adjusted EBITDA	$4.7 million	$4.0 million to $5.0 million
Services Revenue (Steady State)	~$12 million (Implied)	~$12 million

The services component, holding steady around $12 million quarterly, provides a floor for revenue and margin stability, which helps absorb the fixed and variable costs associated with hardware development and sales efforts.

• R&D focus: New Qualcomm Dragonwing Gen 4 Elite FWA platform.
• Hardware cost impact: Mitigated by FWA revenue surpassing mobile hotspot revenue in Q2 2025.
• Operational flexibility: Added a $15.0 million undrawn working capital facility.
• Risk factor: Global tariff and macroeconomic environment remain fluid.

Finance: draft 13-week cash view by Friday.

Inseego Corp. (INSG) - Canvas Business Model: Revenue Streams

You're looking at how Inseego Corp. (INSG) converts its technology into cash flow as of late 2025. The revenue streams are clearly split between upfront hardware purchases and sticky, high-margin recurring software fees. Hardware sales are driven by the deployment of their 5G Fixed Wireless Access (FWA) routers, specifically noting the strong ramp of the FX4100 and solid volumes from the MiFi M3100 mobile hotspot devices. The recurring piece comes from their Software-as-a-Service (SaaS) offerings, which include the Inseego Connect MDM cloud platform and the Inseego Subscribe SaaS offering for subscriber management. This mix shift is intentional, positioning the company for more durable revenue streams.

Here's a quick look at the top-line performance and near-term expectations for these revenue components:

Metric	Q3 2025 Actual	Q4 2025 Guidance Range
Total Revenue	$45.9 million	$45 million to $48 million
Services Revenue (Approximate)	$12 million	Expected to remain consistent
FWA Revenue Component	$17.7 million	N/A
Software Services & Other Contribution	$12.2 million (27% of Total)	N/A

The composition of Inseego Corp. (INSG)'s revenue streams in the third quarter of 2025 looked like this:

• Hardware sales from 5G FWA routers (FX4100/FX4200) and MiFi devices.
• Recurring Software-as-a-Service (SaaS) subscriptions.
• Services revenue was a consistent $12 million in Q3 2025.
• Q3 2025 total revenue was $45.9 million.
• Q4 2025 revenue guidance is $45 million to $48 million.

The FWA revenue stream was the second highest in company history for Q3 2025, surpassing mobile hotspot revenue for the third time. Also, the software services revenue, which includes Inseego Connect MDM cloud offerings and Inseego Subscribe SaaS, provided stable high-margin revenue and profitability. Finance: draft 13-week cash view by Friday.