Inseego Corp. Files Amendment #1 to Annual Report on Form 10-K

TL;DR

<b>Inseego Corp. has filed an amendment to its 2023 10-K report, providing updated information for the fiscal year ending December 31, 2023.</b>

AI Summary

INSEEGO CORP. (INSG) filed a Amended Annual Report (10-K/A) with the SEC on April 30, 2024. Inseego Corp. filed an amendment (Amendment #1) to its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing was submitted on April 30, 2024. The company's principal executive offices are located at 9710 Scranton Road, Suite 200, San Diego, CA 92121. Inseego Corp. is registered in Delaware and has an IRS number of 813377646. The company's common stock trades under the symbol INSG on the NASDAQ Global Select Market.

Why It Matters

For investors and stakeholders tracking INSEEGO CORP., this filing contains several important signals. This amendment indicates that Inseego Corp. is providing updated disclosures or corrections to its previously filed annual report, which could contain material information for investors. The filing confirms the company's reporting status and the exchange where its common stock is listed, offering transparency to stakeholders.

Risk Assessment

Risk Level: low — INSEEGO CORP. shows low risk based on this filing. The filing is an amendment to a 10-K, which typically involves corrections or updates to previously disclosed information rather than new material events, suggesting a low immediate impact on risk perception.

Analyst Insight

Investors should review the specific changes made in Amendment #1 to the 10-K filing to understand any updated financial or operational details for Inseego Corp.

Key Numbers

• 2023-12-31 — Fiscal Year End (The period covered by the annual report.)
• 2024-04-30 — Filing Date (The date the amendment was filed with the SEC.)
• 001-38358 — Commission File Number (SEC file number for Inseego Corp.)
• 81-3377646 — IRS Number (Inseego Corp.'s IRS Employer Identification Number.)

Key Players & Entities

• INSEEGO CORP. (company) — Registrant's name
• INSG (company) — Trading Symbol for Common Stock
• NASDAQ Global Select Market (company) — Exchange where INSG is registered
• 2023-12-31 (date) — Fiscal year end
• 2024-04-30 (date) — Filing date
• 9710 Scranton Road, Suite 200, San Diego, CA 92121 (location) — Principal Executive Offices address
• NOVATEL WIRELESS INC (company) — Former company name
• 2000-07-26 (date) — Date of name change

FAQ

Industry Context

Inseego Corp. operates in the communications equipment sector, focusing on 5G and IoT solutions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Review the specific amendments made in the 10-K/A filing.
2. Analyze any updated financial or operational data provided by Inseego Corp.
3. Monitor future filings for further developments from the company.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the annual report.
• 2024-04-30: Filing Date of 10-K/A — Date the amendment was submitted to the SEC.

Year-Over-Year Comparison

This is an amendment to the previously filed 10-K for the fiscal year ended December 31, 2023. Specific changes are detailed within the amendment document.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value INSG NASDAQ Global Select M
• $56.6 million — Global Select Market, was approximately $56.6 million. For the purposes of this calculation,

Filing Documents

• inseego_10ka1.htm (10-K/A) — 273KB
• inseego_ex3104.htm (EX-31.4) — 3KB
• inseego_ex3103.htm (EX-31.3) — 3KB
• 0001683168-24-002854.txt (&nbsp;) — 280KB

Directors, Executive Officers

Item 10. Directors, Executive Officers and Corporate Governance The Company&rsquo;s Board of Directors (the &ldquo;Board&rdquo;) currently consists of six members, five of whom are non-management directors. The Board is divided into three classes with each class serving a three-year term. The term of one class expires at each annual meeting of stockholders of the Company. The Board is comprised of the following members: James B. Avery Director since August 2018 Mr. Avery, age 60, was appointed to the Board in August 2018 pursuant to the terms of that certain Securities Purchase Agreement, dated August 6, 2018, by and among the Company, North Sound Trading, L.P. and Golden Harbor Ltd. Mr. Avery joined Tavistock Group in July 2014 and is currently a Senior Managing Director. From 2003 to June 2014, Mr. Avery was a Managing Director and Co-Founder of GCA Savvian, a boutique investment bank, in addition to holding the position of Representative Director for GCA Corporation, GCA Savvian&rsquo;s parent company publicly traded on the Tokyo Stock Exchange. Prior to GCA Savvian, Mr. Avery spent 10 years at Morgan Stanley, working in the New York and Silicon Valley offices where he advised clients across a number of industries on strategy, merger & acquisitions and capital market transactions. Mr. Avery has also held roles at Edward M. Greenberg Associates, Burson-Marsteller, Westdeutsche Landesbank, and Republic National Bank of New York. Mr. Avery is currently a member of the board of directors of FrontWell Capital Partners. Mr. Avery received his Bachelor of Science in Finance from Miami University. Mr. Avery&rsquo;s management background and expertise in strategic corporate matters and capital markets provide a valuable background for him to serve as a member of our Board, as Chairman of our Nominating and Corporate Governance Committee of the Board (the &ldquo;Nominating and Corporate Governance Committee&rdquo;), and as a member of the Compensation Committee of t

financial statements with management and the independent registered public accounting firm;

financial statements with management and the independent registered public accounting firm; &bull; reviewing the findings and recommendations of the independent registered public accounting firm and management&rsquo;s response to the recommendations of that firm; &bull; discussing with management and the independent registered public accounting firm, as appropriate, the Company&rsquo;s policies with respect to financial risk assessment and financial risk management; &bull; overseeing compliance with applicable legal and regulatory requirements, including ethical business standards; &bull; establishing procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters; &bull; establishing procedures for the confidential, anonymous submission by employees of concerns regarding questionable accounting or auditing matters; 5 &bull; preparing the Audit Committee Report to be included in our annual proxy statement; &bull; monitoring ethical compliance, including review of related party transactions; and &bull; periodically reviewing the adequacy of the Audit Committee charter. Our independent registered public accounting firm reports directly to the Audit Committee. Each member of the Audit Committee must have the ability to read and understand fundamental financial statements and at least one member must have past employment experience in finance or accounting, and the requisite professional certification in accounting or another comparable experience or background. The Board has determined that each member of the Audit Committee is &ldquo;independent&rdquo; as defined by the NASDAQ Stock Market LLC (&ldquo;NASDAQ&rdquo;) listing requirements and SEC rules. The Board has also determined that Mr. Tuder, the Chair of the Audit Committee, meets the requirements of an &ldquo;audit committee financial expert&rdquo; as defined by SEC rules. Compensation Committee

Executive Compensation

Item 11. Executive Compensation The following information describes the material elements of compensation for the Company&rsquo;s named executive officers for the year ended December 31, 2023, which consist of: (1) Ashish Sharma, our former President and Chief Executive Officer; (2) Steven Gatoff, our Chief Financial Officer; (3) Doug Kahn, our former Executive Vice President of Operations; and (4) Robert Barbieri, our former Chief Financial Officer. Summary Compensation Table The following table sets forth information regardin

View Full Filing

View this 10-K/A filing on SEC EDGAR