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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100