Inseego

INSG

Communication Equipment · Technology

Also trades as: 0A52.L

Price

$4.39

+0.37 (+9.20%)

Market Cap

$71.5M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Data not available

Valuation

Weak

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Share count rising — dilution

+46.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 10.3M (2021) → 15.1M (2025)

Winston Score History

The full picture

Inseego Corp. makes wireless networking hardware and software. The company's main products are mobile hotspots, fixed wireless routers, and cloud-based management tools that help people connect to 5G and 4G LTE networks. Its customers include major US wireless carriers like Verizon and T-Mobile, as well as businesses and government agencies that need reliable mobile internet connections.

Inseego earns money by selling hardware devices to carriers and enterprise customers, and by charging subscription fees for its cloud software platform. The company operates mainly in the United States, though it has some international sales. With a market cap of around $100 million, it is a small player competing against much larger companies like Netgear and Cradlepoint. Its main growth opportunity is the continued rollout of 5G networks, which could drive demand for upgraded devices, but its thin operating margins and dependence on a small number of large carrier customers remain significant risks.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$20M/ year

→ Flat (-4% vs prior year)

11.9% of revenue

Below sector average (15%)

Steady R&D investment year-over-year

Insider Activity

14.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~0 months

$2M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Inseego has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

33.8%

Modest — 33.8% gross margin

Profit after running costs

Operating Margin

-16.5%

Losing money on operations — -16.5%

Return on the money invested

ROCE

-24.3%

Weak — -24.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-0.8%

Shrinking sales (-0.8% YoY)

Profit growth

EPS YoY

+52.5%

Earnings growing fast (+52.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-8.3%

Burning cash (-8.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

—

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

30.3x

Pricey — P/E 30.3

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

-7.1

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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