Novatel Wireless Reports Third Quarter 2016 Financial Results
Summary
Novatel Wireless reported third-quarter 2016 results showing strong growth in SaaS, software, and services revenue. The company increased total revenue to $60.9 million and said recurring software-driven revenue became a larger share of the business. It also highlighted improved adjusted EBITDA and subscriber growth across its Ctrack telematics offerings. The company continued its transition away from hardware-only sales and toward higher-margin IoT solutions. It also announced a reorganization and planned name change to Inseego as part of its broader strategic shift.
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applications
Accounting and Taxes
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SaaS
Network Management Software
Device Management Software
Linked Companies
Inseego
$50M to $100M