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Inseego Q1 loss widens 15.2% YOY

Inseego Corp. said its normalized net income for the first quarter came to a loss of 11 cents per share, compared with a loss of 11 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $5.7 million, compared with a loss of $4.9 million in the prior-year period.

The normalized profit margin climbed to negative 8.5% from negative 9.3% in the year-earlier period.

Total revenue climbed 25.1% on an annual basis to $66.9 million from $53.5 million, and total operating expenses rose 15.5% year over year to $70.8 million from $61.3 million.

Reported net income came to a loss of $11.9 million, or a loss of 22 cents per share, compared to a loss of $7.8 million, or a loss of 17 cents per share, in the year-earlier period.