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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Inseego Corp    INSG

INSEEGO CORP

(INSG)
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Inseego : Verizon launches exclusive Inseego 5G MiFi M1000 nationwide; turns on 5G Ultra Wideband network in St. Paul NEWS

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07/19/2019 | 04:20pm EDT

Today, Verizon debuted its fifth 5G-enabled device with the launch of the Inseego (Nasdaq: INSG) MiFi® M1000. When connected to Verizon's 5G Ultra Wideband network, the device, exclusively available to Verizon customers, provides the large bandwidth and fast download speeds required for applications like 4K/8K video streaming, virtual reality and augmented reality (VR/AR), mobile workforce, industrial IoT and more. Verizon also launched 5G Ultra Wideband mobility service in St. Paul, Minnesota, joining Denver, Chicago, Minneapolis andProvidence1 as the fifth of more than 30 Verizon 5G mobility cities Verizon plans to launch in 2019.

'The Inseego MiFi is our first business-ready 5G device, combining bandwidth and speed customers expect from 5G, with enterprise-grade security businesses require,' said Tami Erwin, executive vice president and group CEO for Verizon Business. 'Verizon continues to lead in 5G, adding to our coverage area with St. Paul and launching the Inseego 5G hotspot, our fifth 5G enabled device.'

Tapping into the power of Verizon's 5G Ultra Wideband network, the 5G MiFi M1000 can allow first responders to rapidly set up mobile command centers with blazing-fast data speeds supporting powerful new public safety applications like object detection, geospatial visualization and more. Verizon 5G Ultra Wideband service and the Inseego MiFi 5G can also support telemedicine by enabling real-time interaction between healthcare providers and patients for remote consultations or physical therapy sessions using VR headsets and gloves. Additionally, advancements in real-time interactions for robotics and cloud-based artificial intelligence can come to life. When tethered to a 5G MiFi M1000 on Verizon's 5G Ultra Wideband network a robot can interact with humans (or with other machines) with near real-time reaction speed.

Coverage Area Details

In St. Paul, Verizon consumer and business customers will see 5G Ultra Wideband service in parts of Downtown, Lowertown and West Seventh neighborhoods around such landmarks as the Minnesota Children's Museum, the Minnesota Museum of American Art, the Fitzgerald Theater, Cathedral Hill Park and the Alexander Ramsey House. When customers move outside Verizon's 5G Ultra Wideband coverage area, the 5G-enabled devices, including the mobile hotspot, hand the signal to Verizon's 4G LTE network, the network more people rely on.

Connect at 5G speeds

Exclusively leveraging Verizon's 5G Ultra Wideband service, the 5G MiFi M1000 provides the speed and throughput needed for a world of new data-hungry applications, from next-gen mobile offices and industrial IoT to immersive entertainment.

'We're thrilled to introduce Verizon's first commercial 5G mobile hotspot engineered specifically for 5G data connectivity in partnership with Verizon,' said Dan Mondor, Chairman and CEO of Inseego. 'By delivering massive amounts of data at breakthrough speeds, 5G will enable many transformative applications that once seemed impossible. The new MiFi M1000 makes those 'use cases' a reality by connecting data-hungry users to incredible speeds, with enterprise-grade security.'

For businesses:

  • Mobile workforce: Link up mobile and remote teams easily, with the ability to connect up to 15 devices simultaneously. The new MiFi M1000 provides a seamless 5G/4G LTE network combining speed and coverage today and as 5G Ultra Wideband coverage expands.
  • Enterprise-grade protection: Integrated advanced security features and firewall protection in the MiFi M1000 work with Verizon's Mobile Data Management (MDM) solution offering secure solutions to all devices connected to the MiFi M1000.

For consumers:

  • Experience near real-time Virtual Reality (VR), Augmented Reality (AR) and gaming like never before: Tether a VR headset to the MiFi M1000 via a USB cable for immersive experiences with ultra-low lag.
  • Streaming multimedia: Stream high-resolution (4K/8K) video with near real-time downloads and virtually no buffering delays by connecting the portable MiFi M1000 on the go.

The Inseego 5G MiFi M1000 is available today for $27.08 a month for 24 months ($649.99 retail) on device payment or $499.99 with a two-year contract. Verizon consumer customers with an active Unlimited smartphone plan can add a 5G MiFi M1000 to their account and get 50GB of 5G Ultra Wideband data and 15GB of 4G LTE data2 for $30 a month (plus taxes and fees), an increase of only $10 over 4G LTE service rates. Connected device only plans start at $85 a month (plus taxes and fees), again only a $10 increase over 4G LTE service. Consumers interested in ordering the 5G MiFi M1000 by Inseego should visit https://www.verizonwireless.com/internet-devices/inseego-jetpack-5g-mifi-m1000/.

Verizon business customers can purchase the 5G MiFi M1000 for $649.99 or $499.99 with a two-year contract. Business customers with a $45 per month Unlimited Plan get 5G service with 35GB of blended 4G/5G service3 for an additional $15 per month ($60 total). More information on Verizon 5G for business is available here.

To learn more about Verizon's 5G technology, visit verizonwireless.com/5g, Facebook, and Twitter.

Disclaimer

Inseego Corp. published this content on 19 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2019 20:19:05 UTC

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Financials (USD)
Sales 2019 229 M
EBIT 2019 4,97 M
Net income 2019 -34,8 M
Debt 2019 125 M
Yield 2019 -
P/E ratio 2019 -11,8x
P/E ratio 2020 -35,7x
EV / Sales2019 2,25x
EV / Sales2020 1,76x
Capitalization 391 M
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Mean consensus BUY
Number of Analysts 6
Average target price 6,67  $
Last Close Price 4,91  $
Spread / Highest target 62,9%
Spread / Average Target 35,8%
Spread / Lowest Target 12,0%
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Managers
NameTitle
Dan Mondor Chairman, President & Chief Executive Officer
Douglas L. Kahn Executive VP-Operations & Customer Success
Stephen M. Smith Chief Financial Officer & Executive VP
Robert M. Pons Independent Director
Jeffrey M. Tuder Independent Director
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