Inseego Corp. (NASDAQ: INSG)

Inseego is a leader in the design and development of cloud-managed wireless wide area network and intelligent edge solutions. The company offers a 5G WAN portfolio of secure high-performance mobile broadband and fixed wireless access solutions with associated cloud tools for real-time WAN visibility, monitoring, automation and centralized orchestration. Its devices serve carrier, enterprise and small and medium business markets with a focus on performance, scalability, quality and enterprise-grade security. Inseego also provides a communication service provider subscriber lifecycle management SaaS solution for carriers managing government and complex enterprise customer subscriptions. Its 5G products are designed in the United States and used where internet reliability and security are paramount, supporting business broadband for mobile and fixed use cases, enterprise networking and SD-WAN failover management.

Inseego generates revenue from the sale of its products and from software services. Product revenue includes mobile solutions such as 5G and 4G MiFi hotspots and fixed wireless access solutions such as indoor, outdoor and industrial routers and gateways sold under the Wavemaker brand. Software services and other revenue come from the Inseego Connect cloud management platform, the Inseego Subscribe SaaS solution for carrier subscriber lifecycle management, and non-recurring engineering services provided to customers. The company's primary customers are mobile operators, enterprises and small and medium businesses across various industries, with a significant portion of revenue derived from Verizon and T-Mobile, which together represented approximately 89% of total revenue for the year ended December 31, 2025.

The company operates through the following segments:

• Product Revenue: This segment encompasses mobile solutions, including 5G and 4G MiFi hotspots that provide secure mobile broadband, and fixed wireless access solutions, consisting of indoor, outdoor and industrial routers and gateways under the Wavemaker brand that deliver reliable broadband for enterprise and SMB sites.

• Software Services and Other: This segment comprises the Inseego Connect cloud management platform for device monitoring and control, the Inseego Subscribe SaaS solution for managing carrier subscriber lifecycles, and non-recurring engineering services performed on behalf of customers.

Inseego holds a leading position in the 5G wireless wide area network market, competing with firms such as Netgear, Franklin Wireless, TCL, ZTE, Orbic and Sonim in mobile broadband and with Nokia, Ericsson Wireless Solutions, ZTE, Peplink, Teltonika and Cisco in fixed wireless access. Its competitive advantage lies in proprietary 4G/5G modem technology designed in-house, long-standing relationships with mobile operators, infrastructure vendors and chipset suppliers, and a robust intellectual property portfolio of 45 patents and multiple trademarks including MiFi and Wavemaker.

Inseego serves a diverse customer base that includes mobile operators such as Verizon Wireless, T-Mobile and AT&T, enterprises, small and medium businesses, government agencies and organizations in sectors like transportation, industrial automation, finance, accounting, legal, insurance, energy, security and medical monitoring. Notable customers include Verizon, T-Mobile, AT&T, TD Synnex, Get Wireless and Fastenal, with Verizon and T-Mobile together accounting for roughly 89% of the company's revenue in the most recent fiscal year.