Inseego Corp.

Hello, and welcome to Insego Corp's third quarter 2025 financial results conference call. Please note that today's event is being recorded. All participants today will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity for Q&A. To ask a question, please press star, then one on your telephone keypad. To withdraw your question, please press star, then two. On the call today are Juho Sarvikas, Chief Executive Officer, and Steven Gaitoff, Chief Financial Officer. During this call, certain non-GAAP financial measures will be discussed. A reconciliation to the most directly comparable GAAP financial measures is included in the earnings release, which is available on the Investors section of the company's website. An audio replay of this call will also be archived there. Please also be advised that today's discussion will contain forward-looking statements. These forward-looking statements are not historical facts, but rather are based on the company's current expectations and beliefs. For discussion on factors that could cause actual results to differ materially from the expectations, please refer to the risk factors described in the company's Form 10-K, 10-Q, and other SEC filings, which are available on the company's website. Please also refer to the cautionary note regarding forward-looking statements section contained in today's press release. With that, I'd like to turn the call over to Juho Sarvikas, Chief Executive Officer. Please go ahead.

Good afternoon, everyone, and thank you for joining us today. Q3 was another strong quarter for Insego. We generated revenue of $45.9 million and adjusted EBITDA of $5.8 million, both above guidance and marking our second consecutive quarter of sequential growth in both metrics. Operationally, we continued to execute on the growth strategy I laid out earlier this year. Our strategy focuses on scaling our core FWA and mobile solutions in the enterprise market, while also evolving into a solutions company that integrates hardware, network management, and software into a single platform, enabling enterprises, carriers, MSOs, MSPs, and VARs to build their wireless practice on Insego. Our progress in executing and advancing these strategic value creation goals this quarter is reflected on three key accomplishments. First, we extended our FWA leadership while continuing to drive mobile performance. On FWA, we did this by driving growth with the FX4100 and expanding our portfolio with the announcement of our premium FX4200, which extends our TAM. As we announced on our last call, we also added a third tier one US carrier across both FWA and mobile, starting to contribute revenue later in Q4. Second, we advanced the realization of our solution strategy with a major new release of Insigo Connect, expanding our software foundation for growth. And third, we further strengthened our leadership bench with the addition of seasoned C-level executives and two new operating experts on our board of directors, further enhancing our ability to scale and deliver sustainable, profitable growth. On today's call, I'll walk through these three key accomplishments, beginning with FWA. We continue to see strong demand for the FX4100 with T-Mobile, where deployments have scaled meaningfully across key verticals, including retail and utilities. These wins underscore the FX4100's ability to deliver enterprise-grade requirements across a broad spectrum of industries and company sizes. It's clear that our FWA solutions are gaining traction beyond early adopters and becoming a trusted primary option for mission-critical connectivity. In Q3, FWA customer demand exceeded our joint expectations with our partner T-Mobile. On the supply side, our team executed with precision, ensuring products reach customers quickly and reliably to capture a meaningful amount of upside. This was a direct contributor to our Q3 financial results. Overall, FWA shipment volumes were up more than 50% year-over-year, underscoring the strong and growing enterprise adoption of our FWA solutions and the effectiveness of our go-to-market execution with carriers. Along that line, carrier diversification has also been a key area of progress. As we highlighted on our last call, we secured a new tier one US carrier win during Q3, which will begin selling both our FWA products and soon to be announced new MiFi device. With this addition, Inseco is now aligned with three major US Tier 1 carriers, broadening our reach and supporting share gains in both FWA and mobile hotspots. Building on this momentum, last week we introduced the FX4200, the next phase of our FWA growth story, with shipments beginning in Q4. This premium-tier enterprise-grade product eliminates the traditional trade-off between capability and ease of use, delivering both advanced performance and simplicity. It creates a higher-value tier in our portfolio, broadens use cases, and expands our market opportunities while maintaining the reliability and security Insigo is known for. When paired with the X700 Mesh Access Point and our Insigo Connect SaaS platform, The FX 4200 becomes a complete enterprise solution, expanding our time, creating SaaS attached opportunities and supporting incremental reoccurring revenue growth. Importantly, the FX 4200 also enables us to move upmarket into larger enterprise and creates a new path to market via MSOs who can augment their existing networks with cellular capabilities. For enterprises, the need is clear. Reliable connectivity that is cost-effective and easy to deploy. For carriers, FWA creates new revenue streams and a faster return on network investment. What's been missing is the right solution, one that combines enterprise-grade features with ease of use and strong economics. That's where Inseego comes in. With our FX4200 platform and integrated solution stack, we're uniquely positioned to meet this need and create value for both carriers and enterprises. Together, these factors make FWA a compelling connectivity option, and e-sego is well-positioned to capitalize by expanding our product portfolio, adding new carriers, and deepening our engagement with MSOs, MSPs, and VARs. Moving to our mobile business. In Q3, mobile remained a solid revenue contributor, driven primarily by our largest Tier 1 carrier. We are also refreshing our MiFi product lineup and expect to be in market with all three carriers in Q1. Collectively, our FWA and mobile businesses are performing well. FWS gaining momentum with new products and customer wins, while mobile provides a steady revenue base that will expand as our new Tier 1 carrier ramps. Together, these businesses create a stronger and more diversified growth platform as we head into 2026. On our second topic, solutions. In Q3, we advanced one of the two key growth vectors of our strategy with a major new release of Insego Connect, our cloud-native SaaS platform for Insego FWA and mobile devices and network management. This release elevates Connect from a supporting tool to a core part of our enterprise offering, tightly integrated with the FX-4100 and the new FX-4200. With zero-touch provisioning, integrated security, and APIs for large-scale deployments, Inseego Connect enables carriers, MSOs, service providers, MSPs, and enterprises to deploy and manage 5G edge networks more efficiently. Importantly, it also creates SaaS-attached opportunities that expand our TAM and support reoccurring revenue growth. Also on the solution side, our wireless provider subscriber management platform, Inseego Subscribe, adds further value by enabling carriers and service providers to manage users of wireless networks across any device. from onboarding and authentication to entitlements, policy controls, and billing. In doing so, Subscribe simplifies operations, improves visibility into network usage, and creates new monetization opportunities through subscription-based services to lower service providers' customer acquisition cost and operation cost. This overall progress underscores how we're executing on our strategy to evolve into a solutions company. As we scale these solutions and broaden adoption, having the right leadership in place will be critical to sustain this momentum. Which brings me to our third topic, further strengthening our leadership team to support our next phase of growth. Along that line, we recently added a proven leader in marketing and a senior technology promotion on the leadership team. Donna Johnson joined as chief marketing officer, bringing more than 20 years of enterprise marketing and channel experience. She most recently served as CMO of Ericsson Enterprise Wireless Solution following its acquisition of Cradlepoint, where she was a founding leader who helped establish the company as a pioneer in enterprise wireless edge solutions. Vishal Dantiretti was promoted to Chief Technology Officer, reflecting his two decades of innovation at Inseego. Since joining in 2005, he has led product development from 2G through 5G advance, spearheading industry firsts and delivering award-winning hardware and cloud-managed solutions. In addition to these management team ads, I'm thrilled to welcome two accomplished operating executives to our board of directors. Nabil Bukhari, President, AI Platforms and CTO at Extreme Networks, has led the company's transformation into an AI and SaaS-driven networking leader. Nabil brings deep expertise in product innovation, subscription models, and scaling cloud platforms with a track record of turning advanced technologies into customer-ready solutions. And Stephen Bai, President and CEO of Ookla, who brings more than 30 years of leadership across carriers and broadband providers worldwide, including DISH, EcoStar, Sprint, Cox, AT&T, Telstra, and Optus. Stephen has been at the forefront of connectivity evolution from DISH's 5G build-out to the emerging frontiers of 6G and satellite services, with extensive operational and strategic expertise in scaling networks. Both Nabil and Stephen are recognized thought leaders whose operating experience in SaaS, AI, and carrier strategy will be invaluable as we expand our solutions portfolio and accelerate Inseego's transformation. With these leadership additions, combined with the execution we've delivered through 2025, we are well positioned to build on our momentum as we close the year and move into 2026. Since joining Isigo in January, I've been proud of what the team has accomplished. In less than a year, we've set out a compelling strategy, broadened our customer base, refreshed and expanded our solution portfolio, and strengthened our leadership bench, creating a scalable platform for sustainable growth. Looking ahead, our focus is clear. Drive sustainable growth, SaaS-enabled solutions, deeper customer partnerships, and disciplined execution. With that, I'll turn it over to Stephen to review our financial results and outlook in more detail.

Over to you, Stephen. Thank you, Hope. Hi, everyone.