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inseego Inseego Reports Third Quarter 2021 Financial Results November 3 , 2021 5G revenue growth of 260 % year - over - year Expanded relationship with T - Mobile for 5G fixed wireless access Strong 5G enterprise pipeline growth across multiple regions SAN DIEGO -- ( BUSINESS WIRE ) -- Nov . 3 , 2021-- Inseego Corp. ( Nasdaq : INSG ) ( the " Company " ) , a leader in 5G and intelligent loT device - to - cloud solutions , today reported its results for the third quarter ended September 30 , 2021. The Company reported third quarter net revenue of $ 66.2 million , GAAP operating loss of $ 10.0 million , GAAP net loss of $ 9.0 million , GAAP net loss of $ 0.09 per share , negative adjusted EBITDA of $ 0.8 million , and non - GAAP net loss of $ 0.08 per share . Cash and cash equivalents at quarter end , including restricted cash , was $ 61.6 million . " We had a strong third quarter driven by our expanded relationship with T - Mobile for our 5G fixed wireless access solution and continued global momentum in our 5G mobile broadband hotspots , " said Dan Mondor , chairman and CEO of Inseego Corp. " Our enterprise pipeline grew substantially , and we continue to expand our channel footprint in multiple geographies to capitalize on those opportunities . Our combined 5G and cloud solutions contributed greater than 60 % of total revenue in the quarter , a 124 % increase from a year ago . This spectacular growth is a direct result of our strategy to invest in next - generation products . Recent success with large mobile network operators in North America , Europe , the Middle East , and Asia - Pacific regions underlines our continued 5G momentum across our target geographic segments . " Corporate Highlights • Q3 revenue of $ 66.2 million , up 0.8 % sequentially ; 9 % sequentially on a pro forma basis after the divestiture of Ctrack South Africa • Cash balance of $ 61.6 million , including restricted cash • Robert Barbieri appointed Chief Financial Officer Business Highlights • 5G revenue up 260 % year - over - year • Cloud software revenue up 25 % year - over - year • Began volume shipments of the Inseego WavemakerTM FX2000 5G CPE to support launch by T - Mobile for Business • New 5G FWA launch with Telstra in Australia in the fourth quarter • New 5G mobile broadband launches with Optus Enterprise in Australia and Sunrise UPC in Switzerland • Continued 5G pip growth in enterprise markets • Ritesh Mukherjee appointed SVP , Enterprise Networking Solutions " Pro forma revenue was up a robust 9 % sequentially , driven predominantly by accelerating demand for our 5G and cloud solutions portfolio . Looking ahead , our global supply chain , despite the current environment , is a source of competitive advantage . I believe the company is poised for another quarter of sequential growth , ” said Bob Barbieri , CFO of Inseego . " We are confident in our ability to achieve approximately 25 % revenue growth in 2022 pro forma after the sale of our Ctrack South Africa business . I look forward to working closely with our leadership team as we continue to execute on our strategic and financial priorities to drive shareholder value . " Conference Call Information Inseego will host a conference call and live webcast for analysts and investors today at 5:00 p.m. ET . A Q & A session with analysts will be held live directly after the prepared remarks . To access the conference call : • Online , visit https://investor.inseego.com/events-presentations one - only participants can pre - register by navigating to https://dpregister.com/sreg/10159503/ec4823ea5f • Those without internet access or unable to pre - register may dial - in by calling : ■ In the United States , call 1-844-763-8274 ■ International parties can access the call at 1-412-717-9224 An audio replay of the conference call will be available beginning one hour after the call through November 17 , 2021. To hear the replay , parties in the United States may call 1-877-344-7529 and enter access code 10159503 followed by the # key . International parties may call 1-412-317-0088 . In addition , the Inseego Corp. press release will be accessible from the Company's website before the conference call begins . About Inseego Corp. Inseego Corp. ( Nasdaq : INSG ) is an industry leader in smart device - to - cloud solutions that extend the 5G network edge , enabling broader 5G coverage , multi - gigabit data speeds , low latency and strong security to deliver highly reliable internet access . Our innovative mobile broadband , fixed wireless access ( FWA ) solutions , and software platform incorporate the most advanced technologies ( including 5G , 4G LTE , Wi - Fi 6 and others ) into a