XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Net revenues:        
IoT & Mobile Solutions $ 56,975 $ 77,342 $ 151,770 $ 189,071
Enterprise SaaS Solutions 9,242 12,898 37,737 38,698
Total net revenues 66,217 90,240 189,507 227,769
Cost of net revenues:        
IoT & Mobile Solutions 43,595 60,135 116,777 148,414
Enterprise SaaS Solutions 3,679 4,935 14,965 14,958
Total cost of net revenues 47,274 65,070 131,742 163,372
Gross profit 18,943 25,170 57,765 64,397
Operating costs and expenses:        
Research and development 12,626 10,684 38,954 29,448
Sales and marketing 9,172 8,446 29,997 25,849
General and administrative 6,599 8,699 22,657 23,257
Amortization of purchased intangible assets 519 779 1,649 2,358
Impairment of capitalized software 0 0 1,197 0
Total operating costs and expenses 28,916 28,608 94,454 80,912
Operating loss (9,973) (3,438) (36,689) (16,515)
Other income (expense):        
Gain on sale of Ctrack South Africa 5,262 0 5,262 0
Loss on debt conversion and extinguishment, net 0 (1,180) (432) (76,354)
Interest expense, net (1,655) (1,657) (5,178) (8,197)
Other income (expense), net (828) 1,053 291 2,818
Loss before income taxes (7,194) (5,222) (36,746) (98,248)
Income tax (benefit) provision (4) 217 445 193
Net loss (7,190) (5,439) (37,191) (98,441)
Less: Net income attributable to noncontrolling interests 0 (3) (214) (29)
Net loss attributable to Inseego Corp. (7,190) (5,442) (37,405) (98,470)
Series E preferred stock dividends and deemed dividends from the preferred stock exchange (1,843) (829) (3,596) (2,056)
Net loss attributable to common stockholders $ (9,033) $ (6,271) $ (41,001) $ (100,526)
Net loss per common share:        
Basic (in dollars per share) $ (0.09) $ (0.06) $ (0.40) $ (1.06)
Diluted (in dollars per share) $ (0.09) $ (0.06) $ (0.40) $ (1.06)
Weighted-average shares used in computation of net loss per common share:        
Basic (in shares) 103,430,083 98,016,798 102,586,121 95,136,713
Diluted (in shares) 103,430,083 98,016,798 102,586,121 95,136,713