Inseego: Disappointing Outlook Puts An End To Epic Rally - Sell
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Inseego reported strong Q3/2024 results but provided a disappointing outlook for Q4, expecting a 20% decline in sales. The recent sales boost from carrier promotions and a large SaaS contract renewal is unlikely to continue.
November 14, 2024 | 3:30 am
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Inseego's Q3/2024 results exceeded expectations, but the company forecasts a 20% sales decline in Q4. The recent sales increase from carrier promotions and a SaaS contract renewal is not expected to continue.
Despite strong Q3 results, the forecasted 20% decline in Q4 sales is concerning. The lack of expected repeat sales from previous promotions and contract renewals suggests potential revenue challenges ahead, likely impacting the stock negatively.
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