Inseego expects revenues for the first quarter to pass expectations, boosted by growing demand for the company’s entire range of mobile connectivity products amid the covid-19 pandemic and the need to work from home, distance learning and telehealth services. Inseego said its flagship 4G and 5G MiFi mobile hotspots are seeing significant orders from existing as well as new customers.
For Q1, the company expects revenues to go beyond the current consensus of USD 52 million. For the second quarter, based on the expansion of its manufacturing capacity as a result of current and expected orders, revenues are seen even higher, at USD 75-85 million.
The company expects to ship mobile broadband products to all three of the largest US domestic mobile network operators in Q2. It is forecasting increased gross margins in IoT & Mobile Solutions, based on its ongoing cost reduction initiatives and volume leverage.
Inseego will release Q1 results on 6 May.
