Forward Looking Statements This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these statements. These forward-looking statements include, without limitation, statements that reflect the views of our senior management with respect to our current expectations, assumptions, estimates and projections about Inseego Corp. (the “Company” or “Inseego”) and our industry. These forward-looking statements speak only as of the date of this report. We disclaim any undertaking to publicly update or revise any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Statements that include the words “may,” “could,” “should,” “would,” “estimate,” “anticipate,” “believe,” “expect,” “preliminary,” “intend,” “plan,” “project,” “outlook,” “will” and similar words and phrases identify forward-looking statements (although not all forward-looking statements contain these words). Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified; therefore, our actual results may differ materially from those anticipated in these forward-looking statements as of the date of this report. We believe that these factors include those related to: •our dependence on a small number of customers for a substantial portion of our revenues; •our ability to compete in the market for wireless broadband data access and wireless modem products and services; •our ability to successfully develop and introduce new products and services; •the pace of 5G wireless network rollouts globally and their adoption by customers; •our ability to attract new customers and retain existing customers; •our dependence on wireless telecommunication operators delivering acceptable wireless services; •our ability to develop sales channels and to onboard and execute successfully with channel partners; •our ability to develop and expand into new markets; •our ability to properly manage the growth of our business to avoid significant strains on our management and operations and disruptions to our business; •our reliance on contract manufacturers and third parties to manufacture our products; •our contract manufacturers’ ability to secure necessary supply to build our devices; •increases in costs, disruption of supply and/or the shortage of semiconductors or other key components of our products; •our ability to accurately forecast customer demand and order the manufacture and timely delivery of sufficient product quantities; •our reliance on sole source suppliers for some products and devices used in our solutions; •our ability to be cost competitive while meeting time-to-market requirements for our customers; •our ability to meet the product performance needs of our customers in mobile broadband and fixed wireless access markets; •our ability to make successful investments in research and development; •our ability to introduce and sell new products that comply with current and evolving industry standards and government regulations such as the evolving 5G New Radio (“5G NR”) price and performance standards; •our pending acquisition of Nokia’s fixed wireless access business; •the impact of laws and regulations on our business, including the adoption of new regulations; •our ability to mitigate the impact of trade restrictions, tariffs, or other government-imposed sanctions; •the continuing impact of uncertain global economic conditions on the demand for our products; •the impact of geopolitical instability on our business; 23 •our ability to make payments on or to refinance our indebtedness; •the outcome of any pending or future litigation, including intellectual property litigation; •our continued ability to license necessary third-party technology for the development and sale of our solutions; •the introduction of new products that could contain errors or defects; •our ability to hire, retain and manage qualified personnel to maintain and expand our business; •infringement claims with respect to intellectual property contained in our solutions; •conducting business abroad, including foreign currency risks; and •the impact of high rates of inflation and rising interest rates. The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this and other reports we file with or furnish to the Securities and Exchange Commission (“SEC”), including the information in “Item 1A. Risk Factors” included in Part I of our Annual Report on Form 10-K for the year ended December 31, 2025 (the “Form 10-K”). If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. As used in this report on Form 10-Q, unless the context otherwise requires, the terms “we,” “us,” “our,” the “Company” and “Inseego” refer to Inseego Corp., a Delaware corporation, and its wholly-owned subsidiaries. Trademarks “Inseego”, the “Inseego logo”, “MiFi”, “Skyus”, “Inseego Connect”, “Inseego Subscribe” and “Inseego Wavemaker” are trademarks or registered trademarks of Inseego and its subsidiaries. Other trademarks, trade names or service marks used in this report are the property of their respective owners. 24 The following information should be read in conjunction with the condensed consolidated financial statements and the accompanying notes included in Part I, Item 1 of this report, as well as the annual consolidated financial statements and accompanying notes and Management’s Discussion and Analysis of Financial Condition and Results of Operations for the year ended December 31, 2025, contained in our Form 10-K. Business Overview Inseego is a leader in the design and development of cloud-managed wireless wide area network (“WAN”) and intelligent edge solutions. Our 5G WAN portfolio is comprised of secure and high-performance mobile broadband and fixed wireless access (“FWA”) solutions with associated cloud solutions for real time WAN visibility, monitoring, automation and control with centralized orchestration of network functions. These devices are specifically built for the carrier, enterprise and small and medium business (“SMB”) market segments with a focus on performance, scalability, quality and enterprise grade security. We also provide a Communication Service Provider (“CSP”) subscriber lifecycle management SaaS solution for carriers’ management of their government and complex enterprise customer subscriptions. Our 5G products and associated cloud solutions are designed in the U.S. and are used in networks where internet reliability and security is of the utmost importance. These products support applications such as business broadband for both mobile and fixed use cases, enterprise networking and software-defined wide area network (“SD-WAN”) failover management. Inseego is at the forefront of providing high speed broadband through state-of-the-art 5G products and services to keep enterprise and SMB customers seamlessly connected. With multiple first-to-market innovations through several generations of 4G and 5G technologies, Inseego has been advancing wireless WAN technology and driving industry transformations for over 30 years. Recent Developments Repurchase of Preferred Stock On January 14, 2026 (the “Preferred Stock Exchange Closing Date’), the Company entered into an Exchange Agreement (the “Preferred Stock Exchange Agreement”) with an affiliate of Mubadala Capital (the “Preferred Stock Holder”), which held all 25,000 outstanding shares of the Company’s Fixed-Rate Cumulative Perpetual Preferred Stock, Series E (the “Series E Preferred Stock”). Pursuant to the Preferred Stock Exchange Agreement, on the Preferred Stock Exchange Closing Date all of the outstanding shares of Series E Preferred Stock, which had a liquidation value of $42.0 million as of December 31, 2025, were surrendered and forfeited by the Preferred Stock Holder in exchange for the following consideration, having an aggregate value of approximately $26 million and representing a discount of approximately 38% to the liquidation value: (i) $10.0 million in cash, one-third of which was paid on the Preferred Stock Exchange Closing Date and the balance of which will be paid in two equal installments on the six and twelve month anniversaries of the Preferred Stock Exchange Closing Date; (ii) 767,165 shares of the Company’s common stock (the “Common Shares”), and (iii) $8.0 million in additional principal amount of the Company’s existing 2029 Senior Secured Notes. The Common Shares and the 2029 Senior Secured Notes were issued to the Preferred Stock Holder on the Preferred Stock Exchange Closing Date. Asset Purchase Agreement with Nokia On April 30, 2026, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Nokia Solutions and Networks Oy (“Nokia”), pursuant to which Inseego has agreed to purchase substantially all of the assets (the “Purchased Assets”) comprising Nokia’s fixed wireless access business (the “Nokia FWA Business”). Under the Purchase Agreement and subject to the terms and conditions set forth therein, at the closing (the “Closing”) of the transactions contemplated by the Purchase Agreement (collectively, the “Transaction”), Inseego will purchase the Purchased Assets from Nokia for a purchase price consisting of (i) 1,163,693 shares (the “Shares”) of Inseego’s common stock (“Common Stock”), (ii) warrants to purchase an aggregate of 521,139 shares of Common Stock, at an exercise price of $12.89 per share and (iii) the assumption of certain liabilities relating to the Nokia FWA Business. The warrants will be exercisable for a period of four years following the Closing and will be exercisable on a cash basis. The Purchase Agreement contains customary representations, warranties and indemnities made or given by each of Nokia and Inseego. The Purchase Agreement also contains customary covenants of the parties, including covenants relating to the conduct of the Nokia FWA Business prior to Closing, efforts to obtain required consents and approvals, and other matters. Nokia, on behalf of itself and its affiliates, has agreed that for a period of three years after the Closing (the “Restricted Period”) it will not, anywhere in the world, engage in any business that develops, produces or sells certain fixed wireless access products and devices sold by the Nokia FWA Business, subject to certain exceptions. In addition, Nokia has agreed that if during the Restricted Period it determines that it intends to solicit proposals from, or to enter into negotiations with, any third party for the development of any product or device featuring upstream connectivity with both wired and cellular radio access and use 25 products or technology comprising part of the Purchased Assets, Nokia will provide Inseego with a right of first offer to provide such products. In addition, pursuant to the Purchase Agreement, Nokia has agreed that if the EBITDA (as defined in the Purchase Agreement) of the Nokia FWA Business for the first 12 months following the Closing is negative, Nokia will reimburse Inseego on a quarterly basis by the amount of such negative EBITDA, capped at an aggregate total payment of $38.0 million, subject to certain limitations. Additionally, for the next 24 months after the initial 12-month period after Closing, Inseego has agreed to pay to Nokia a portion of the EBITDA profits generated by the Nokia FWA Business, if any, ranging from 0% to 50%, dependent upon the Nokia FWA Business achieving certain revenue thresholds. The Purchase Agreement is subject to customary closing conditions and termination rights of the parties, including the right of either party to terminate the Purchase Agreement if the Closing has not occurred by January 15, 2027, subject to Inseego’s right to extend such date by up to three months if certain deliverables have not been provided. Nokia Investment in Inseego On April 30, 2026, Inseego and Nokia also entered into a Subscription Agreement (the “Subscription Agreement”), pursuant to which, subject to the terms and conditions contained therein (including the Closing occurring), at the Closing, Nokia will invest $10.0 million in cash in Inseego, for which it will receive 775,795 shares of Common Stock and warrants to purchase an aggregate of 260,569 shares of Common Stock, at an exercise price of $12.89 per share and otherwise in the same form as the warrants to be issued pursuant to the terms of the Purchase Agreement, except that such warrants will be exercisable for cash or on a cashless exercise basis. Our Sources of Revenue We classify our revenues from the sale of our products and services into two categories: Product Revenue, which consists of our Mobile Solutions and Fixed Wireless Access Solutions, and Software Services and Other. A description of each of the revenue classifications is as follows: Mobile Solutions: Our mobile broadband devices, sold under the MiFi brand, are actively used by millions of end users to provide secure and convenient high-speed access to corporate, public and personal information through the Internet and enterprise networks. Our mobile portfolio is supported by our cloud offering, Inseego Connect for device management, whose revenues are included in Software Services and Other below. Our Mobile Solutions customer base is primarily comprised of mobile operators. These mobile operators include T-Mobile, Verizon Wireless, and AT&T in the United States, Rogers and Telus in Canada, and various companies in other vertical markets Fixed Wireless Access Solutions: Our fixed wireless access solutions are deployed by enterprise and SMB customers for their distributed sites and employees as a secure and corporate managed wireless WWAN solution. The portfolio consists of indoor, outdoor and industrial routers and gateways supported by our cloud offering – Inseego Connect – for device management. Revenues related to our cloud offerings of Inseego Connect are included within Software Services and Other below. These devices, sold under the Wavemaker and Skyus brands, are sold by mobile operators such as T-Mobile, Verizon Wireless, and AT&T along with distribution and channel partners. Software Services and Other: A substantial majority of our software services and other revenue comes from providing a SaaS CSP wireless subscriber lifecycle management solution (“Inseego Subscribe”) for carrier’s management of their government and complex enterprise customer subscriptions. Software services and other revenue also includes the Company’s above mentioned Inseego Connect offering. We also categorize non-recurring engineering services we provide to our customers as software services and other revenue. Business Segment Reporting The Company has one reportable segment. The Company’s Chief Executive Officer (“CEO”), who is also the Chief Operating Decision Maker, does not manage any part of the Company separately, and the allocation of resources and assessment of performance are based solely on the Company’s consolidated operations and financial results. As such, our operations constitute a single operating segment and one reportable segment. Critical Accounting Estimates We prepare our condensed consolidated financial statements in accordance with GAAP. The preparation of these condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and other assumptions that we believe are reasonable under the circumstances. Our actual results could differ significantly from these estimates under different assumptions and conditions. 26 There have been no material changes to our critical accounting estimates as compared to the critical accounting estimates discussed in the Form 10-K. Results of Operations Three Months Ended June 30, 2026 Compared to Three Months Ended June 30, 2025 Revenues. Revenues for the three months ended June 30, 2026 were $44.0 million, compared to $40.2 million for the same period in 2025. The following table summarizes revenues by category (in thousands): Three Months Ended June 30, Change Product Category 2026 2025 $ % Mobile solutions $ 17,291 $ 13,672 $ 3,619 26.5 % Fixed wireless access solutions 14,363 14,511 (148) (1.0) Product 31,654 28,183 3,471 12.3 Software services and other 12,330 12,040 290 2.4 Total revenues $ 43,984 $ 40,223 $ 3,761 9.4 Mobile solutions. The $3.6 million increase in mobile solutions revenues is primarily due to sales to a new carrier partner during the three months ended June 30, 2026, who was not a customer during the comparable prior period. This increase was partially offset by the impact of the late-quarter launch of our current generation of mobile solutions products, which limited revenue contribution from the new product line during the three months ended June 30, 2026. Fixed wireless access solutions. The $0.1 million decrease in fixed wireless access solutions revenues reflects overall consistent demand for our fixed wireless access products period over period. The modest decrease was primarily driven by a shift in the customer mix, as revenues concentrated with a key carrier partner in the prior period were largely replaced by revenues from a new carrier partner during the three months ended June 30, 2026, resulting in only a negligible net change in total fixed wireless access revenues. Software services and other. The $0.3 million increase in software services and other revenues is primarily due to increased revenue from Inseego Connect, primarily on our fixed wireless access devices. Cost of revenues. Cost of revenues for the three months ended June 30, 2026 was $29.1 million, or 66.2% of revenues, compared to $23.7 million, or 58.9% of revenues, for the same period in 2025. The following table summarizes cost of revenues by category (in thousands): Three Months Ended June 30, Change Product Category 2026 2025 $ % Product $ 27,756 $ 22,365 $ 5,391 24.1 % Software services and other 1,382 1,343 39 2.9 Total cost of revenues $ 29,138 $ 23,708 $ 5,430 22.9 Product. The $5.4 million increase in product cost of revenues is primarily due to increased product revenues, increased component costs, specifically memory costs, and lower margin on the current year’s generation of products in comparison to the prior year period. Software services and other. The increase in software services and other cost of revenues is consistent with the increase in software services and other revenues over the same period, as the underlying cost drivers — primarily personnel costs related to Inseego Subscribe and Inseego Connect — remained relatively stable period over period. The largely fixed cost structure of the Company's software and services operations meant that the change in revenue activity did not require a meaningful change in the resources required to deliver those services. Gross profit. Gross profit for the three months ended June 30, 2026 was $14.8 million, or a gross margin of 33.8%, compared to $16.5 million, or a gross margin of 41.1%, for the same period in 2025. The decrease in both gross profit and gross margin is primarily due to increased product component costs, specifically memory costs, and lower margin on the current year’s generation of mobile and fixed wireless access products in comparison to the prior year. 27 Operating costs and expenses. The following table summarizes operating costs and expenses (in thousands): Three Months Ended June 30, Change Operating costs and expenses 2026 2025 $ % Research and development $ 5,301 $ 4,820 $ 481 10.0 % Sales and marketing 6,441 3,951 2,490 63.0 General and administrative 7,756 4,703 3,053 64.9 Depreciation and amortization 2,243 1,761 482 27.4 Impairment of capitalized software 341 — 341 * Total $ 22,082 $ 15,235 $ 6,847 44.9 Research and development expenses. Research and development expenses for the three months ended June 30, 2026 were $5.3 million, or 12.1% of revenues, compared to $4.8 million, or 12.0% of revenues, for the same period in 2025. The increase in research and development expenses was primarily due to increased compensation costs due to increased headcount related to the Company’s development efforts for its next line of products, partially offset by decreased annual incentive bonus accruals. Sales and marketing expenses. Sales and marketing expenses for the three months ended June 30, 2026 were $6.4 million, or 14.6% of revenues, compared to $4.0 million, or 9.8% of revenues, for the same period in 2025. The increase in sales and marketing expenses was primarily due to increased marketing spend on demo units, increased compensation costs due to increased headcount, increased share-based compensation expense related to equity awards granted in late 2025, and increased commissions expense related to higher sales during the period, partially offset by decreased annual incentive bonus accruals. General and administrative expenses. General and administrative expenses for the three months ended June 30, 2026 were $7.8 million, or 17.6% of revenues, compared to $4.7 million, or 11.7% of revenues, for the same period in 2025. The increase in general and administrative expense was primarily due to non-recurring transaction costs related to the Purchase Agreement for Nokia’s FWA business and increased share-based compensation expense related to equity awards granted in late 2025, partially offset by decreased annual incentive bonus accruals. Depreciation and amortization expenses. Depreciation and amortization expenses for the three months ended June 30, 2026 were $2.2 million, or 5.1% of revenues, compared to $1.8 million, or 4.4% of revenues, for the same period in 2025. The increase in depreciation and amortization expenses was primarily due higher capitalized software balances being amortized in the current period related to significant development efforts relating to our current generation of mobile and fixed wireless products, as well as efforts related to further development of our software services. Impairment of capitalized software. For the three months ended June 30, 2026 and 2025, we recorded impairments of $0.3 million and $0.0 million, respectively. Other (expense) income. The following table summarizes other (expense) income (in thousands): Three Months Ended June 30, Change Other (expense) income 2026 2025 $ % Interest expense $ (1,210) $ (933) $ (277) 29.7 % Other income (expense), net 43 182 (139) (76.4) Total $ (1,167) $ (751) $ (416) 55.4 % * Percentage not meaningful Interest expense. The increase in interest expense is primarily due to the $8.0 million increase in 2029 Senior Secured Notes principal in January 2026 as part of the Preferred Stock Exchange Agreement and drawn balances on the Working Capital Facility that was executed in August 2025, partially offset by the repayment of the 2025 Convertible Notes in May 2025. Other income (expense), net. Other income (expense), net for the three months ended June 30, 2026 and 2025 was less than $0.1 million and $0.2 million, respectively. The decrease in other income, net was primarily due to lower interest bearing cash balances in the current quarter. Income tax provision (benefit). Income tax provision (benefit) was less than $0.1 million for both the three months ended June 30, 2026 and 2025. 28 Preferred stock dividends. During the three months ended June 30, 2025, we recorded dividends of $0.9 million. There were no preferred stock dividends during the three months ended June 30, 2026 as all outstanding preferred stock was surrendered and forfeited by the Preferred Stock Holder as part of the Preferred Stock Exchange Agreement on January 14, 2026. 29 Six Months Ended June 30, 2026 Compared to Six Months Ended June 30, 2025 Revenues. Revenues for the six months ended June 30, 2026 were $78.3 million, compared to $71.9 million for the same period in 2025. The following table summarizes revenues by our two product categories (in thousands): Six Months Ended June 30, Change Product Category 2026 2025 $ % Mobile solutions $ 33,979 $ 31,462 $ 2,517 8.0 % Fixed wireless access solutions 19,677 16,414 3,263 19.9 Product 53,656 47,876 5,780 12.1 Software services and other 24,666 24,020 646 2.7 Total revenues $ 78,322 $ 71,896 $ 6,426 8.9 Mobile solutions. The $2.5 million increase in mobile solutions revenues is primarily due to sales to a new carrier partner during the six months ended June 30, 2026, who was not a customer during the comparable prior period. This increase was partially offset by the impact of the launch of our current generation of mobile solutions products late in the current period, which limited revenue contribution from the new product line during the six months ended June 30, 2026. Fixed wireless access solutions. The $3.3 million increase in fixed wireless access solutions revenues is primarily due to decreased sales with one of our carrier partners during the first three months of 2025 as we transitioned to our next generation of fixed wireless access products that launched during the second quarter of 2025. Software services and other The $0.6 million increase in software services and other revenues is primarily due to increased revenue from Inseego Connect, primarily on our fixed wireless access devices. Cost of revenues. Cost of revenues for the six months ended June 30, 2026 was $46.9 million, or 59.9% of revenues, compared to $40.4 million, or 56.2% of revenues, for the same period in 2025. The following table summarizes cost of revenues by category (in thousands): Six Months Ended June 30, Change Product Category 2026 2025 $ % Product $ 44,138 $ 37,761 $ 6,377 16.9 % Software services and other 2,741 2,637 104 3.9 Total cost of revenues $ 46,879 $ 40,398 $ 6,481 16.0 Product. The $6.4 million increase in product cost of revenues is primarily due to increased product revenues, increased component costs, specifically memory costs, and lower margin on the current year’s generation of products in comparison to the prior year period. Software services and other. The increase in software services and other cost of revenues is consistent with the increase in software services and other revenues over the same period, as the underlying cost drivers — primarily personnel costs related to Inseego Subscribe and Inseego Connect — remained relatively stable period over period. The largely fixed cost structure of the Company's software and services operations meant that the change in revenue activity did not require a meaningful change in the resources required to deliver those services. Gross profit. Gross profit for the six months ended June 30, 2026 was $31.4 million, or a gross margin of 40.1%, compared to $31.5 million, or a gross margin of 43.8%, for the same period in 2025. The decrease in both gross profit and gross margin is primarily due to increased product component costs, specifically memory costs, and lower margin on the current year’s generation of mobile and fixed wireless access products in comparison to the prior year period. Operating costs and expenses. The following table summarizes operating costs and expenses (in thousands): 30 Six Months Ended June 30, Change Operating costs and expenses 2026 2025 $ % Research and development $ 11,111 $ 9,355 $ 1,756 18.8 % Sales and marketing 12,063 7,885 4,178 53.0 General and administrative 14,693 9,193 5,500 59.8 Depreciation and amortization 4,037 3,825 212 5.5 Impairment of capitalized software 341 384 (43) (11.2) Total $ 42,245 $ 30,642 $ 11,603 37.9 Research and development expenses. Research and development expenses for the six months ended June 30, 2026 were $11.1 million, or 14.2% of revenues, compared to $9.4 million, or 13.0% of revenues, for the same period in 2025. The increase in research and development expenses was primarily due to increased compensation costs due to increased headcount and increased prototype costs related to the Company’s development efforts for its next line of products, partially offset by decreased annual incentive bonus accruals. Sales and marketing expenses. Sales and marketing expenses for the six months ended June 30, 2026 were $12.1 million, or 15.4% of revenues, compared to $7.9 million, or 11.0% of revenues, for the same period in 2025. The increase in sales and marketing expenses was primarily due to increased compensation costs due to an increase in overall headcount, increased share-based compensation expense related to equity awards granted in late 2025, increased marketing spend on demo units, and increased commissions expense related to higher sales during the period, partially offset by decreased annual incentive bonus accruals. General and administrative expenses. General and administrative expenses for the six months ended June 30, 2026 were $14.7 million, or 18.8% of revenues, compared to $9.2 million, or 12.8% of revenues, for the same period in 2025. The increase in general and administrative expense was primarily due to non-recurring transaction costs related to the Preferred Stock Exchange Agreement and Purchase Agreement for Nokia’s FWA business and increased share-based compensation expense related to equity awards granted in late 2025, partially offset by decreased annual incentive bonus accruals. Depreciation and amortization expenses. Depreciation and amortization expenses for the six months ended June 30, 2026 were $4.0 million, or 5.2% of revenues, compared to $3.8 million, or 5.3% of revenues, for the same period in 2025. The increase in depreciation and amortization expenses was primarily due higher capitalized software balances being amortized in the current period related to significant development efforts relating to our current generation of mobile and fixed wireless products, as well as efforts related to further development of our software services. Impairment of capitalized software. For the six months ended June 30, 2026 and 2025, we recorded impairments of $0.3 million and $0.4 million, respectively. Other (expense) income. The following table summarizes other (expense) income (in thousands): Six Months Ended June 30, Change Other (expense) income 2026 2025 $ % Interest expense $ (2,271) $ (1,959) $ (312) 15.9 Other income (expense), net 168 485 (317) (65.4) Total $ (2,103) $ (1,474) $ (629) 42.7 * Percentage not meaningful Interest expense. The $0.3 million increase in interest expense for the six months ended June 30, 2026 over the same period in 2025 was primarily due to the repayment of the 2025 Convertible Notes in May 2025, partially offset by the impact of the $8.0 million increase in 2029 Senior Secured Notes principal in January 2026 as part of the Preferred Stock Exchange Agreement. Other income (expense), net. Other income (expense), net for the six months ended June 30, 2026 and 2025 was $0.2 million and $0.5 million, respectively. The decrease in other income, net was primarily due to lower interest bearing cash balances in the current period. Income tax provision (benefit). Income tax provision (benefit) for the six months ended June 30, 2026 and 2025 was a provision of $0.1 million and $0.0 million, respectively. 31 Income (loss) from discontinued operations, net of tax. Income (loss) from discontinued operations, net of tax for the six months ended June 30, 2025 was $(0.4) million. There was no income (loss) from discontinued operations during the six months ended June 30, 2026 as the Telematics Business was sold in November 2024. Preferred stock dividends. During the six months ended June 30, 2025, we recorded dividends of $1.7 million. There were no preferred stock dividends during the six months ended June 30, 2026 as all outstanding preferred stock was surrendered and forfeited by the Preferred Stock Holder as part of the Preferred Stock Exchange Agreement on January 14, 2026. 32 Liquidity and Capital Resources As of June 30, 2026, the Company had available cash and cash equivalents totaling $1.9 million and maintained positive working capital of $3.8 million. The Company had negative cash flows from operations of $22.1 million for the six months ended June 30, 2026. On August 5, 2025, the Company entered into a Credit and Security Agreement (the “Working Capital Facility Agreement”) with BMO Bank N.A. (“BMO”) that provides up to a maximum $15.0 million secured asset-backed revolving credit facility (the “Working Capital Facility”). On May 22, 2026, the Company amended the Working Capital Facility Agreement to increase the maximum borrowing capacity to $20.0 million. The facility matures on August 5, 2028 and contains certain financial and non-financial covenants. The Company was in compliance with all covenants under the Working Capital Facility Agreement as of June 30, 2026. Obligations under the Working Capital Facility are secured by a continuing security interest in substantially all property of Inseego Corp. and certain of its subsidiaries, subject to customary exclusions. Availability under the Working Capital Facility is determined monthly as the excess of a borrowing base (“Borrowing Base”), comprised of a percentage of eligible accounts receivable and eligible inventory, over the total loans and issued letters of credit outstanding under the Working Capital Facility. If the aggregate outstanding amount of the Working Capital Facility, including outstanding letters of credit, exceeds the Borrowing Base at any time, the excess amount shall be payable on demand by BMO. Loans made under the Working Capital Facility bear interest at a Term Secured Overnight Financing Rate (“SOFR”), as defined in the Working Capital Facility Agreement, plus an applicable margin ranging from 1.00-2.50%, subject to certain exceptions. Interest on loans made under the Working Capital Facility are paid in cash, in arrears, on a semi-annual basis. As of June 30, 2026, the Company had $3.0 million of outstanding letters of credit issued under the Working Capital Facility to support inventory purchases. No amounts had been drawn under the letters of credit as of June 30, 2026, and no funded obligations were payable to BMO. As of June 30, 2026, there were $10.0 million in outstanding borrowings and availability to borrow under the Working Capital Facility was $6.5 million. The Company’s 3.25% convertible notes due in 2025 (the “2025 Convertible Notes”) matured on May 1, 2025, at which time all outstanding principal and related accrued interest was paid-off in full. The Company’s 9.0% senior secured notes due in 2029 (the “2029 Senior Secured Notes”) had a principal balance of $48.9 million as of June 30, 2026 and mature on May 1, 2029. While the Company’s liquidity and financial results had several positive developments in 2025, the Company has a history of operating and net losses and overall usage of cash from operating and investing activities. The Company’s ability to maintain profitable operations and continue to generate positive cash flows is dependent upon achieving a level and mix of revenues adequate to support its evolving cost structure. If events or circumstances occur such that the Company does not meet its operating plan as expected, or if the Company becomes obligated to pay unforeseen expenditures, the Company may be required to raise capital, reduce planned research and development activities, incur additional restructuring charges or reduce other operating expenses and capital expenditures, which could have an adverse impact on the Company’s ability to achieve its intended business objectives. Our liquidity could be compromised if there is any interruption in our business operations, a material failure to satisfy our contractual commitments, a failure to retain our key existing customers or a failure to generate revenue from new or existing products. If additional funds are raised by the issuance of equity securities, or in connection with any additional debt restructurings or refinancing, Company’s stockholders could experience significant dilution of their ownership interests and securities issued may have rights senior to those of the holders of the Company’s common stock. Contractual Obligations and Commitments As of June 30, 2026, our material contractual obligations consisted of the following: •To mitigate the risk of material shortages and price increases, we enter into non-cancellable purchase obligations with certain key contract manufacturers and other vendors for the purchase of goods and services to be received up to three to four quarters following the balance sheet date. Our purchase obligations consist of agreements to purchase goods and services entered into in the ordinary course of business. As of June 30, 2026, our future payments under these noncancellable purchase obligations were approximately $119.9 million. •$48.9 million in long-term debt outstanding under the 2029 Senior Secured Notes; see Part I Item 1, Note 4 – Debt; •$10.0 million in outstanding borrowings under the Working Capital Facility; see Part I Item 1 Note 4 – Debt; and 33 •Operating lease liabilities that are included on our consolidated balance sheet. There were no material changes in our other contractual obligations, other than the full repayment upon maturity of the 2025 Convertible Notes on May 1, 2025. Historical Cash Flows The following table summarizes our unaudited condensed consolidated statements of cash flows for the periods indicated (in thousands): Six Months Ended June 30, 2026 2025 Operating cash flows from continuing operations $ (22,062) $ (7,055) Operating cash flows from discontinued operations — (881) Net cash used in operating activities (22,062) (7,936) Investing cash flows from continuing operations (8,287) (4,591) Investing cash flows from discontinued operations — 710 Net cash used in investing activities (8,287) (3,881) Financing cash flows from continuing operations 7,365 (14,677) Financing cash flows from discontinued operations — — Net cash provided by (used in) financing activities 7,365 (14,677) Effect of exchange rates on cash (24) 119 Net decrease in cash and cash equivalents (23,008) (26,375) Cash and cash equivalents, beginning of period 24,886 39,596 Cash and cash equivalents, end of period $ 1,878 $ 13,221 Operating activities. Net cash used in operating activities for the six months ended June 30, 2026 is primarily comprised of net cash used for working capital of $19.9 million, which was largely due to timing of large cash receipts on accounts receivable balances and the payout of the Company’s annual bonuses that were accrued for at December 31, 2025, and a $13.0 million net loss, partially offset by non-cash charges during the period, including share-based compensation expense of $5.4 million and depreciation and amortization of $4.1 million. Net cash used in operating activities for six months ended June 30, 2025 is primarily comprised of a $0.7 million net loss from continuing operations during the period and net cash used for working capital of $15.0 million, which was largely due to the payout of the annual bonus that was accrued for at December 31, 2024, partially offset by non-cash charges, including depreciation and amortization of $3.9 million, share-based compensation expense of $3.3 million, and provision for excess and obsolete inventory of $1.2 million. Investing activities. Net cash used in investing activities during the six months ended June 30, 2026 is primarily comprised of $7.8 million of cash outflows related to the development of software in support of our products and services. Net cash used in investing activities for the six months ended June 30, 2025 is comprised of $4.4 million of cash outflows related to the development of software in support of our products and services, partially offset by $0.7 million received during the period related to a working capital adjustment payment from the purchaser of the Company’s Telematics Business that was sold in 2024. Financing activities. Net cash provided by financing activities during the six months ended June 30, 2026 is primarily comprised of $10.0 million drawn on the Working Capital Facility and $0.7 million of cash received from exercises of stock options and purchases 34 through the Company’s employee stock purchase plan, partially offset by the $3.3 million payment made as part of the Preferred Stock Exchange Agreement. Net cash used in financing activities for the six months ended June 30, 2025 is is primarily comprised of the repayment of the remaining $14.9 million 2025 Convertible Notes principal balance, partially offset by $0.3 million of cash received from exercises of stock options.