10-Q Filing

INSEEGO CORP. CIK: 1022652 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001628280-15-004045`
Period End Date	20150331
Filing Date	20150511
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	nvtl-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 34 Cash Flow Statement 62 Comprehensive Income 6

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$230.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$217.00K	USD	Point-in-time
Accumulated depreciation, Property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$68.45M	USD	Point-in-time
Accumulated depreciation, Property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$70.05M	USD	Point-in-time
Accumulated amortization, Intangible assets	`AcquiredIntangibleAssetsAccumulatedAmortization`	$14.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.37M	USD	Point-in-time
Accumulated amortization, Intangible assets	`AcquiredIntangibleAssetsAccumulatedAmortization`	$14.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.85M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $230 at March 31, 2015 and $217 at December 31, 2014	`AccountsReceivableNetCurrent`	$24.21M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $230 at March 31, 2015 and $217 at December 31, 2014	`AccountsReceivableNetCurrent`	$33.70M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Inventories	`InventoryNet`	$37.80M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Inventories	`InventoryNet`	$46.32M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$7.91M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$7.52M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$87.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$96.91M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $70,051 at March 31, 2015 and $68,449 at December 31, 2014	`PropertyPlantAndEquipmentNet`	$5.06M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $70,051 at March 31, 2015 and $68,449 at December 31, 2014	`PropertyPlantAndEquipmentNet`	$5.28M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	49.94M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $14,322 at March 31, 2015 and $14,050 at December 31, 2014	`IntangibleAssetsNetExcludingGoodwill`	$1.49M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $14,322 at March 31, 2015 and $14,050 at December 31, 2014	`IntangibleAssetsNetExcludingGoodwill`	$21.82M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	45.74M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	49.94M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	45.74M	shares	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$1.78M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$434.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$467.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.44M	shares	Point-in-time
Total assets	`Assets`	$95.02M	USD	Point-in-time
Total assets	`Assets`	$125.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$34.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$38.55M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$32.00M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$23.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$58.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$70.54M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$7.16M	USD	Point-in-time
Revolving credit facility	`LongTermLineOfCredit`	$5.16M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$16.11M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$932.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$93.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$64.47M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.001; 2,000 shares authorized and none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001; 2,000 shares authorized and none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized, 49,937 and 45,742 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$50.00K	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized, 49,937 and 45,742 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$46.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$451.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$466.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-418.99M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-411.17M	USD	Point-in-time
Total stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$55.55M	USD	Point-in-time
Total stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$32.19M	USD	Point-in-time
Treasury stock at cost; 0 common shares at March 31, 2015 and 2,436 common shares at December 31, 2014	`TreasuryStockValue`	$25.00M	USD	Point-in-time
Treasury stock at cost; 0 common shares at March 31, 2015 and 2,436 common shares at December 31, 2014	`TreasuryStockValue`	-	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$32.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$30.55M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$125.99M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$95.02M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	$53.49M	USD	1 Quarter
Net revenues	`Revenues`	$48.28M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$40.86M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$38.22M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.07M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.76M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.62M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.22M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.36M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.08M	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$140.00K	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$167.00K	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$-164.00K	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$1.17M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$20.35M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$19.00M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-8.93M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-7.71M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-74.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$15.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-44.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-17.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-8.96M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.81M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$20.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$25.00K	USD	1 Quarter
Net loss	`NetIncomeLossAttributabletoParentBeforeBeneficialConversion`	$-8.98M	USD	1 Quarter
Net loss	`NetIncomeLossAttributabletoParentBeforeBeneficialConversion`	$-7.83M	USD	1 Quarter
Basic and diluted ($ per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter
Basic and diluted ($ per share)	`EarningsPerShareBasicAndDiluted`	$-0.17	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	46.26M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.17M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.83M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.25M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.12M	USD	1 Quarter
Provision for bad debts, net of recoveries	`ProvisionForDoubtfulAccounts`	$30.00K	USD	1 Quarter
Provision for bad debts, net of recoveries	`ProvisionForDoubtfulAccounts`	$-41.00K	USD	1 Quarter
Provision for excess and obsolete inventory	`InventoryWriteDown`	$180.00K	USD	1 Quarter
Provision for excess and obsolete inventory	`InventoryWriteDown`	$206.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$477.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$790.00K	USD	1 Quarter
Non-cash income tax benefit	`NonCashIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Non-cash income tax benefit	`NonCashIncomeTaxExpenseBenefit`	$6.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.11M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-9.93M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.45M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.48M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.42M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.15M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.18M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.60M	USD	1 Quarter
Accrued expenses, income taxes, and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$5.60M	USD	1 Quarter
Accrued expenses, income taxes, and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.08M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.39M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.13M	USD	1 Quarter
Acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$9.06M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$111.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$513.00K	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$224.00K	USD	1 Quarter
Marketable securities maturities / sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$6.56M	USD	1 Quarter
Marketable securities maturities / sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$6.05M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.40M	USD	1 Quarter
Proceeds from the exercise of warrant to purchase common stock	`ProceedsFromWarrantExercises`	$8.64M	USD	Point-in-time
Proceeds from the exercise of warrant to purchase common stock	`ProceedsFromWarrantExercises`	$8.64M	USD	1 Quarter
Proceeds from the exercise of warrant to purchase common stock	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Borrowings on revolving credit facility	`ProceedsFromLinesOfCredit`	$2.00M	USD	1 Quarter
Borrowings on revolving credit facility	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Payoff of acquisition-related assumed liabilities	`RepaymentsOfDebtAndCapitalLeaseObligations`	$2.63M	USD	1 Quarter
Principal repayments of short-term debt	`RepaymentsOfShortTermDebt`	$2.27M	USD	1 Quarter
Principal repayments of short-term debt	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Proceeds from stock option exercises and ESPP, net of taxes paid on vested restricted stock units	`ProceedsFromStockOptionExercisesAndEsppNetOfTaxesPaidOnVestedRestrictedStockUnits`	$66.00K	USD	1 Quarter
Proceeds from stock option exercises and ESPP, net of taxes paid on vested restricted stock units	`ProceedsFromStockOptionExercisesAndEsppNetOfTaxesPaidOnVestedRestrictedStockUnits`	$-217.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.48M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.08M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-29.00K	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-45.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.92M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.48M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.91M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.37M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.83M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.85M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.91M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.37M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.83M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.85M	USD	Point-in-time
Interest	`InterestPaidNet`	$6.00K	USD	1 Quarter
Interest	`InterestPaidNet`	$36.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$2.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$64.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.83M	USD	1 Quarter
Unrealized gain on cash equivalents and marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.00K	USD	1 Quarter
Unrealized gain on cash equivalents and marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.98M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-7.83M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.