Inseego (INSG) 10-K 19 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 14, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38358
Entity Registrant Name	INSEEGO CORP.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-3377646
Entity Address, Address Line One	9710 Scranton Road, Suite 200
Entity Address, City or Town	San Diego,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	858
Local Phone Number	812-3400
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	INSG
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 98.9
Entity Common Stock, Shares Outstanding		15,006,340
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for the 2025 Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission pursuant to Regulation 14A within 120 days after the close of the registrant’s fiscal year ended December 31, 2024, are incorporated by reference into Part III of this Form 10-K to the extent stated herein.
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0001022652

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	Marcum LLP
Auditor Location	Philadelphia, Pennsylvania
Auditor Firm ID	688

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents		$ 39,596	$ 2,409
Accounts receivable, net of allowance for expected credit losses of $123 and $617, respectively		13,803	18,202
Inventories		13,575	20,555
Prepaid expenses and other		5,926	4,937
Current assets held for sale		0	12,123
Total current assets		72,900	58,226
Property, plant and equipment, net of accumulated depreciation of $28,897 and $27,513, respectively		1,102	2,389
Intangible assets, net of accumulated amortization of $33,558 and $31,444, respectively		18,747	25,718
Goodwill		3,949	3,949
Operating lease right-of-use assets		2,855	4,022
Other assets		446	1,256
Non-current assets held for sale		0	26,237
Total assets		99,999	121,797
Current liabilities:
Accounts payable		18,433	23,408
Accrued expenses and other current liabilities		30,133	21,049
2025 Convertible Notes, net		14,905	0
Revolving credit facility, net		0	4,094
Current liabilities held for sale		0	7,360
Total current liabilities		63,471	55,911
Long-term liabilities:
2025 Convertible Notes, net		0	159,912
Operating lease liabilities		2,627	3,972
Deferred tax liabilities, net		174	112
2029 Senior Secured Notes, net		41,830	0
Other long-term liabilities		4,755	2,351
Non-current liabilities held for sale		0	1,644
Total liabilities		112,857	223,902
Commitments and Contingencies (Note 11.)
Preferred stock, par value $0.001; 2,000,000 shares authorized:
Series E Preferred stock, par value $0.001; 39,500 shares designated, 25,000 shares issued and outstanding as of December 31, 2024 and December 31, 2023, aggregate liquidation preference of $38,392,444 as of December 31, 2024		0	0
Common stock, par value $0.001; 150,000,000 shares authorized, 14,990,712 and 11,878,557 shares issued and outstanding as of December 31, 2024 and December 31, 2023 (*), respectively	[1]	15	12
Additional paid-in capital	[1]	892,534	810,138
Accumulated other comprehensive loss		218	(5,327)
Accumulated deficit		(905,625)	(906,928)
Total stockholders’ deficit		(12,858)	(102,105)
Total liabilities and stockholders’ deficit		$ 99,999	$ 121,797
[1]Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)		Dec. 31, 2024	Dec. 31, 2023
Allowance on accounts receivable		$ 123,000	$ 617,000
Property, plant and equipment, accumulated depreciation		28,897,000	27,513,000
Intangible assets - accumulated amortization		$ 33,558,000	$ 31,444,000
Preferred stock, par value (in dollars per share)		$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)		2,000,000	2,000,000
Common stock, par value (in dollars per share)	[1]	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	[1]	150,000,000	150,000,000
Common stock, shares issued (in shares)	[1]	14,990,712	11,878,557
Common stock, shares outstanding (in shares)	[1]	14,990,712	11,878,557
Series E Preferred Stock
Preferred stock, par value (in dollars per share)		$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)		39,500	39,500
Preferred stock, shares issued (in shares)		25,000	25,000
Preferred stock, shares outstanding (in shares)		25,000	25,000
Aggregate liquidation preference		$ 38,392,444
[1]Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Revenues:
Total revenues		$ 191,244	$ 167,286
Cost of revenues:
Total cost of revenues		122,447	131,510
Gross profit		68,797	35,776
Operating costs and expenses:
Research and development		20,596	19,725
Sales and marketing		15,951	16,632
General and administrative		17,240	15,853
Impairment of capitalized software		12,368	18,408
Impairment of capitalized software		927	1,115
Total operating costs and expenses		67,082	71,733
Operating income (loss)		1,715	(35,957)
Other income (expense):
Loss on debt restructurings, net		(2,851)	0
Loss on extinguishment of revolving credit facility		(788)	0
Interest expense, net		(10,906)	(9,086)
Other income (expense), net		(850)	70
Loss before income taxes		(13,680)	(44,973)
Income tax provision		689	43
Loss from continuing operations, net of tax		(14,369)	(45,016)
Income (Loss) from discontinued operations (net of income tax provision of $1,956 and $841, respectively)		18,941	(1,169)
Net income (loss)		4,572	(46,185)
Preferred stock dividends		(3,269)	(2,991)
Net income (loss) attributable to common stockholders		$ 1,303	$ (49,176)
Basic
Continuing operations (in dollars per share)		$ (1.41)	$ (4.22)
Discontinued operations (in dollars per share)		1.51	(0.10)
Basic earnings (loss) per share (in dollars per share)	[1]	0.10	(4.32)
Diluted
Continuing operations (in dollars per share)		(1.41)	(4.22)
Discontinued operations (in dollars per share)		1.51	(0.10)
Diluted earnings (loss) per share (in dollars per share)	[1]	$ 0.10	$ (4.32)
Weighted-average shares used in computation of net earnings (loss) per share
Basic (in shares)	[1]	12,535,756	11,372,069
Diluted (in shares)	[1]	12,535,756	11,372,069
Other comprehensive (loss) income:
Foreign currency translation adjustment		$ (581)	$ 1,002
Release of cumulative foreign currency translation adjustments as a result of the sale of Telematics Business		6,126	0
Comprehensive income (loss)		10,117	(45,183)
Product revenues
Revenues:
Total revenues		146,579	135,398
Cost of revenues:
Total cost of revenues		115,390	127,157
Mobile solutions
Revenues:
Total revenues		98,930	80,498
Fixed wireless access solutions
Revenues:
Total revenues		47,649	54,900
Services and other
Revenues:
Total revenues		44,665	31,888
Cost of revenues:
Total cost of revenues		$ 7,057	$ 4,353
[1]Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1. Rounding may affect summation.

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Discontinued operations tax provision	$ 1,956	$ 841

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT - USD ($) $ in Thousands		Total		Preferred Stock	Common Stock		Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income
Preferred stock, beginning balance (in shares) at Dec. 31, 2022				25,000
Beginning balance, shares (in shares) at Dec. 31, 2022	[1]				10,847,000
Beginning balance at Dec. 31, 2022		$ (70,118)		$ 0	$ 11		$ 793,952	$ (857,752)	$ (6,329)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		(46,185)						(46,185)
Foreign currency translation adjustment		1,002							1,002
Exercises of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan, net of taxes withheld (in shares)	[1]				228,000
Exercises of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan, net of taxes withheld		(305)			$ 3		(308)
Issuance of common shares in connection with a public offering, net of issuance costs (in shares)	[1]				804,000
Issuance of common shares in connection with a public offering, net of issuance costs		6,057			$ 8		6,049
Share-based compensation		7,444					7,444
Release of cumulative foreign currency translation adjustments as a result of the sale of Telematics Business		0
Preferred stock dividends		0					2,991	(2,991)
Impact of retroactively adjusted stock split		$ 0			$ (10)		10
Preferred stock, ending balance (in shares) at Dec. 31, 2023				25,000
Ending balance, shares (in shares) at Dec. 31, 2023		11,878,557	[2]		11,879,000	[1]
Ending balance at Dec. 31, 2023		$ (102,105)		$ 0	$ 12		810,138	(906,928)	(5,327)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		4,572						4,572
Foreign currency translation adjustment		(581)							(581)
Exercises of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan, net of taxes withheld (in shares)	[1]				174,000
Exercises of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan, net of taxes withheld		530			$ 0		530
Share-based compensation		3,939					3,939
Issuance of common stock in connection with debt restructurings (in shares)	[1]				2,938,000
Issuance of common stock in connection with debt restructurings		44,289			$ 3		44,286
Issuance of common stock warrants in connection with debt restructurings		30,372					30,372
Release of cumulative foreign currency translation adjustments as a result of the sale of Telematics Business		6,126							6,126
Preferred stock dividends		$ 0					3,269	(3,269)
Preferred stock, ending balance (in shares) at Dec. 31, 2024				25,000
Ending balance, shares (in shares) at Dec. 31, 2024		14,990,712	[2]		14,991,000	[1]
Ending balance at Dec. 31, 2024		$ (12,858)		$ 0	$ 15		$ 892,534	$ (905,625)	$ 218
[1]Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1[2]Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ 4,572	$ (46,185)
Adjustments to reconcile Net income (loss) to net cash provided by operating activities
(Income) Loss from discontinued operations, net of tax	(18,941)	1,169
Depreciation and amortization	12,529	18,709
Provision for expected credit losses	216	302
Impairment of capitalized software	927	1,115
Provision for excess and obsolete inventory	(54)	9,491
Write-off of capitalized inventory order fees	0	1,275
Impairment of operating lease right-of-use assets	138	469
Share-based compensation expense	3,824	6,971
Amortization of debt discount and debt issuance costs	4,399	1,953
Loss on extinguishment of revolving credit facility	788	0
Loss on debt restructurings, net	2,851	0
Deferred income taxes	62	9
Non-cash operating lease expense	1,035	1,038
Changes in assets and liabilities, net of effects of divestiture:
Accounts receivable	4,670	3,068
Inventories	6,923	4,272
Prepaid expenses and other assets	(71)	1,933
Accounts payable	(6,947)	(802)
Accrued expenses other liabilities	10,966	235
Operating lease liabilities	(1,230)	(1,272)
Operating cash flows from continuing operations	26,657	3,750
Operating cash flows from discontinued operations	6,862	2,207
Net cash provided by operating activities	33,519	5,957
Cash flows from investing activities:
Purchases of property, plant and equipment	(100)	(224)
Additions to capitalized software development costs and purchases of intangible assets	(4,961)	(8,112)
Investing cash flows from continuing operations	(5,061)	(8,336)
Investing cash flows from discontinued operations	48,092	(1,833)
Net cash provided by (used in) investing activities	43,031	(10,169)
Cash flows from financing activities:
Payments related to repurchases of 2025 Convertible Notes	(33,769)	0
Proceeds from issuance of short-term loan and warrants, net of issuance costs	19,350	0
Repayments on short-term loan	(19,500)	0
Net repayments on asset-backed revolving credit facility	(4,882)	(3,757)
Net repayment of bank and overdraft facilities	0	(186)
Proceeds from a public offering, net of issuance costs	0	6,057
Proceeds from stock option exercises and ESPP	20	97
Financing cash flows from continuing operations	(38,781)	2,211
Financing cash flows from discontinued operations	0	0
Net cash provided by (used in) financing activities	(38,781)	2,211
Effect of exchange rates on cash	(582)	1,169
Net increase (decrease) in cash, cash equivalents and restricted cash	37,187	(832)
Cash, cash equivalents and restricted cash, beginning of period	2,409	3,241
Cash, cash equivalents and restricted cash, end of period	39,596	2,409
Supplemental disclosures of cash flow information:
Interest	6,245	6,013
Income taxes	196	142
Supplemental disclosures of non-cash activities:
Capital expenditures financed through accounts payable or accrued liabilities	235	98
2029 Senior Secured Notes issued in exchange for 2025 Convertible Notes	42,557	0
Common stock issued in exchange for 2025 Convertible Notes	44,930	0
Warrants issued in exchange for 2025 Convertible Notes	27,603	0
Purchase price receivable for Telematics divestiture within prepaid and other current assets	710	0
Accrued taxes related to Telematics divestiture	$ 900	$ 0

Nature of Business and Signific

Nature of Business and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Nature of Business and Significant Accounting Policies	Nature of Business and Significant Accounting Policies Inseego Corp. (the “Company”, “Inseego”, “We” or “Our”) is a leader in the design and development of fixed and mobile wireless products as well as cloud solutions for businesses, consumers, and governments around the globe. Our products and solutions are powered by our key wireless innovations in mobile and FWA technologies, including a suite of 5G products and purpose-built SaaS cloud platforms. Inseego is a Delaware corporation formed in 2016 and is the successor to Novatel Wireless, Inc., a Delaware corporation formed in 1996. The Company’s principal executive and corporate offices are located at 9710 Scranton Road, Suite 200, San Diego, CA 92121. Inseego’s common stock trades on the NASDAQ Global Select Market under the trading symbol “INSG.” Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Basis of presentation The consolidated financial statements of Inseego Corp. present information in accordance with generally accepted accounting principles in the U.S. (“GAAP”), have been prepared pursuant to the rules and regulations of the SEC and, in the opinion of management, present fairly the consolidated financial position, results of operations and cash flows of the Company and its wholly-owned subsidiaries for the periods presented. Reclassifications Certain amounts recorded in the prior period consolidated financial statements have been reclassified to conform to the current period financial statement presentation. These reclassifications had no effect on previously reported operating results. Divestiture of the Telematics Business On November 27, 2024, the Company completed the previously announced sale of its fleet management and telematics solutions business, which has operations in the United Kingdom, Europe, Australia and New Zealand (the “Telematics Business”). The sale of the Telematics Business was completed pursuant to the Share Purchase Agreement, which was entered into on September 16, 2024 with Light Sabre SPV Limited (the “Purchase Agreement”). Pursuant to the terms of the Purchase Agreement, Ctrack Holdings (the “Purchaser”), as assignee of Light Sabre SPV Limited, acquired the entire issued share capital of the Company’s Inseego International Holdings Limited subsidiary for $52.0 million in an all-cash transaction (the “Sale Transaction”). The Purchase Agreement provided for a working capital adjustment, which was determined in December 2024 and funded in January 2025, resulting in an increase to the initial purchase consideration of $0.7 million as a result of changes in closing working capital and net debt. In accordance with the authoritative guidance for discontinued operations (Accounting Standards Codification (“ASC”) 205-20), the Company determined that the Telematics Business met the held-for sale and discontinued operations accounting criteria at the end of the third quarter of 2024. Accordingly, within these consolidated financial statements, the assets and liabilities associated with the Telematics Business disposal group prior to its sale have been classified as held for sale within the Consolidated Balance Sheets and its operations and cash flows have been classified as discontinued operations within the Consolidated Statements of Operations and Comprehensive Income and Consolidated Statements of Cash Flows. Refer to Note 2 – Held for Sale and Discontinued Operations for additional information regarding the Telematics Business, including the assets and liabilities divested and income from discontinued operations. Unless otherwise noted, disclosures within these remaining Notes to Consolidated Financial Statements relate solely to the Company's continuing operations. Held for Sale and Discontinued Operations The Company classifies assets and liabilities to be sold (disposal group) as held for sale in the period when all of the applicable criteria are met, including: (i) management commits to a plan to sell, (ii) the disposal group is available to sell in its present condition, (iii) there is an active program to locate a buyer, (iv) the disposal group is being actively marketed at a reasonable price in relation to its fair value, (v) significant changes to the plan to sell are unlikely, and (vi) the sale of the disposal group is generally probable of being completed within one year. Management performs an assessment at least quarterly or when events or changes in business circumstances indicate that a change in classification may be necessary. Assets and liabilities held for sale are presented separately within the Consolidated Balance Sheets with any adjustments necessary to measure the disposal group at the lower of its carrying value or fair value less costs to sell. Depreciation of property, plant and equipment and amortization of intangible and right-of-use assets are not recorded while these assets are classified as held for sale. For each period the disposal group remains classified as held for sale, its recoverability is reassessed and any necessary adjustments are made to its carrying value. No impairment upon classification as held for sale was recorded during the years ended December 31, 2024 or 2023. The Company reports the results of operations of a business as discontinued operations if a disposal represents a strategic shift that will have a major effect on its operations and financial results. The results of discontinued operations are reported as Income from discontinued operations, net of tax in the Consolidated Statements of Operations and Comprehensive Income for the current and prior periods commencing in the period in which the held for sale criteria are met. Income from discontinued operations, net of tax includes direct costs attributable to the divested business and excludes any cost allocations associated with any shared or corporate functions unless otherwise dedicated to the divested business. Income from discontinued operations, net of tax will include any gain or loss recognized upon disposition or from adjustment of the carrying amount to fair value less costs to sell while classified as held for sale. Transactions between the businesses held for sale and businesses held for use that are expected to continue after the disposal are not eliminated in order to appropriately reflect the continuing operations as well as the activity to be disposed of. Interest costs are included as a component of Income from discontinued operations, net of tax for debt specifically attributable to the discontinued operation or debt that is obligated to be repaid in connection with the completion of the divestiture. Activity within comprehensive income directly associated with a divested business is not realized as a component of Income from discontinued operations, net of tax until completion of the sale or disposition. Reverse Stock Split On January 24, 2024, the Company completed a 1-for-10 reverse stock split of its issued and outstanding common stock (the “Reverse Stock Split”). As a result of the Reverse Stock Split, each share of common stock issued and outstanding immediately prior to January 24th were automatically converted into one-tenth (1/10) of a share of common stock. The Reverse Stock Split affected all common stockholders uniformly and did not alter any stockholder's percentage interest in the Company's equity, except to the extent that the Reverse Stock Split would result in a stockholder owning a fractional share. No fractional shares were issued in connection with the Reverse Stock Split. Stockholders who otherwise would be entitled to receive a fractional share instead were entitled to receive cash in lieu of such fractional share. The Reverse Stock Split did not change the par value of the common stock or the authorized number of shares of common stock. All outstanding convertible notes entitling their holders to purchase or obtain or convert into shares of our common stock were adjusted, as required by the terms of these securities. All common share and per-share amounts in this Form 10-K have been retroactively restated to reflect the effect of the Reverse Stock Split. Segment Information The Company has one reportable segment. As of December 31, 2024, the Company’s Chief Operating Decision Maker (“CODM”) was its Executive Chairman. The Company’s Executive Chairman left the Company in February 2025, at which point, the Company’s CODM became its Chief Executive Officer. Neither of these CODMs manage any part of the Company separately, and the allocation of resources and assessment of performance is based solely on the Company’s consolidated operations and financial results. See Note 13 – Segment, Geographic, and Concentrations of Risk Information for more information. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent liabilities. Actual results could differ materially from these estimates. Estimates are assessed each period and updated to reflect current information. Significant estimates include revenue recognition, capitalized software costs, allowance for credit losses, provision for excess and obsolete inventory, accrued liabilities related to our contract manufacturers, valuation of tangible and intangible long-lived assets, valuation of goodwill, valuation of derivatives, accruals relating to litigation, income taxes and share-based compensation expense. Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents include highly liquid investments with original maturities of three months or less. The Company’s cash and cash equivalents are generally held with large financial institutions worldwide to reduce the amount of exposure to credit risk. Cash and cash equivalents are recorded at market value, which approximates cost. There are no cash equivalents or restricted cash amounts as of December 31, 2024 or 2023. Gains and losses associated with the Company’s foreign currency denominated demand deposits are recorded as a component of other income, net, in the Consolidated Statements of Operations and Comprehensive Income. Revenue Recognition The Company’s products and services primarily include mobile hotspots, wireless routers, and USB modems, which are supported by software and cloud services designed to enable customers to easily analyze data insights and configure and manage their hardware. The Company classifies its revenues from the sale of its products and services into two categories, Product Revenue, which consists of our Mobile Solutions and Fixed Wireless Access Solutions, and Services and Other. A description of each of the Company’s 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 Services and Other below. Our Mobile Solutions customer base is primarily comprised of mobile operators. These mobile operators include Verizon Wireless, T-Mobile and U.S. Cellular 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 fully 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 Services and Other below. These devices, sold under the Wavemaker brands, are sold by mobile operators such as T-Mobile, U.S. Cellular and Verizon Wireless along with distribution and channel partners. Services and Other: A substantial majority of our Services and Other revenue comes from providing a SaaS wireless subscriber management solution (Inseego Subscribe) for carrier’s management of their government and complex enterprise customer subscriptions. 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 Service and Other revenue. Revenue Recognition Criteria The Company follows Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (as amended, “ASC 606”), which provides guidance on recognizing revenue, including a five-step model to determine when revenue recognition is appropriate. The standard requires that an entity recognize revenue to depict the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company recognizes revenue upon transfer of control of products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company determines revenue recognition according to the following five steps: (i) identification of the contract, or contracts, with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to the performance obligations in the contract; and (v) recognition of revenue when, or as, performance obligations are satisfied. Substantially all of our product revenues are recognized at a point in time, while substantially all of our service and other revenues are recognized over time. Customer Contracts The Company routinely enters into a variety of agreements with customers, including quality agreements, pricing agreements and master supply agreements which outline the general commercial terms and conditions under which the Company does business with a specific customer, including shipping terms and pricing for the products and services that the Company offers. The Company also sells to some customers solely based on purchase orders. The Company has concluded, for the vast majority of its revenues, that its contracts with customers are either a purchase order or the combination of a purchase order with a master supply agreement. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Performance Obligations The Company’s performance obligations are generally established when a customer submits a purchase order notification for goods and services, and the Company accepts the order. The Company identifies performance obligations as the delivery of the requested product or service in appropriate quantities and to the location specified in the customer’s contract and/or purchase order. The Company generally recognizes revenue upon the satisfaction of these criteria when control of the product or service has been transferred to the customer at which time the Company has an unconditional right to receive payment. The Company’s prices are fixed and have no history of being affected by contingent events that could impact the transaction price. The Company generally does not offer price concessions and does not accept payment that is less than the price stated upon acceptance of a customer purchase order. The Company enters into contracts that may include various combinations of products and services which are generally capable of being distinct and accounted for as separate performance obligations. Hardware. Hardware revenue from the sale of the Company’s devices is recognized when the Company transfers control to the customer, typically at the time when the product is delivered, shipped or installed, at which time, title passes to the customer and there are no further performance obligations with regards to the hardware device. The Company also considered the performance obligations in its customer master supply agreements and determined that, for the majority of its revenue, the Company generally satisfies performance obligations at a point in time upon delivery of the product to the customer. Maintenance and support services revenue. Periodically, the Company sells separately-priced warranty contracts that extend beyond the Company’s base warranty period. The separately priced service contracts range from 12 to 36 months. The Company typically receives payment at the inception of the contract and recognizes revenue as earned on a straight-line basis over the term of the contract. The Company’s estimated allowances for product warranties can vary from actual results and the Company may have to record additional charges to cost of revenue. Within cost of revenue, the Company records an estimate to reflect its standard warranty obligation to end users to provide for replacement of a defective product. The standard obligation period for most regions is 12 months. Factors that affect the warranty obligation include product failure rates, material usage, and service delivery costs incurred in correcting product failures. SaaS and other services. SaaS subscription revenue is recognized over time on a ratable basis over the contract term beginning on the date that its service is made available to the customer. Subscription periods range from monthly to multi-year, with the majority of contracts being one Professional services revenue. From time to time, the Company enters into special engineering design service agreements. Revenues from engineering design services are designed to meet specifications of a particular product, and therefore do not create an asset with an alternative use. The Company recognizes revenue based on the achievement of certain applicable milestones and the amount of payment the Company believes it is entitled to at the time. Multiple performance obligations. The Company’s contracts with customers may include commitments to transfer multiple products and services to a customer. When hardware, software and services are sold in various combinations, judgment is required to determine whether each performance obligation is considered distinct and accounted for separately, or not distinct and accounted for together with other performance obligations. When there are multiple performance obligations within a single contract, the Company allocates the total contract price to each distinct performance obligation based on their stand-alone selling prices (“SSPs”). Judgment is required to determine the SSP for each distinct performance obligation. When available, the Company uses observable inputs to determine SSP. In instances where the software elements included within hardware for various products are considered to be functioning together with non-software elements to provide the tangible product’s essential functionality, these arrangements are accounted for as a single distinct performance obligation. Contract Assets The Company capitalizes sales commissions earned by its sales force as contract acquisition costs if such costs are significant and both incremental and recoverable. Any capitalized sales commissions are either deferred and amortized over a period of benefit exceeding one year or are expensed as incurred if the period of benefit is one year or less. There were no contract assets related to customer acquisition costs as of December 31, 2024 or 2023 since the Company’s customer contracts are predominantly hardware sales that are immediately recognized as revenue upon either shipment or delivery, and therefore the related contract acquisition costs are also immediately recognized. Sales commissions are included in sales and marketing expense as incurred. Sales commissions associated with SaaS offerings are not material. Contract Liabilities Timing of revenue recognition may differ from the timing of invoicing to customers. If customers are invoiced for subscription services in advance of the service period, then deferred revenue is recorded. Contract liabilities are also recorded when the Company collects payments in advance of performing the services. As of December 31, 2024 and 2023, the Company had contract liabilities comprised of $9.2 million and $2.7 million of short-term deferred revenue included within accrued expenses and other current liabilities and $4.6 million and $1.7 million of long-term deferred revenue included within other long-term liabilities on the consolidated balance sheets, respectively. During the years ended December 31, 2024 and 2023, $21.0 million and $2.8 million, respectively, of revenue was deferred due to unsatisfied performance obligations for service contracts and undelivered product commitments, $11.5 million and $1.3 million, respectively, of revenue was recognized for the satisfaction of performance obligations, and $2.7 million and $1.6 million, respectively, of this recognized revenue was included in the contract liability balance at the beginning of the period, respectively. Cost of Revenues Cost of revenues includes the costs associated with the manufacturing of our portfolio of hardware devices, as well as direct personnel costs for employees and contractors, and other period adjustments related to costs of inventories sold or for sale or use in manufacturing. Shipping and Handling Charges Fees charged to customers for shipping and handling of products are included in product revenues, and costs for shipping and handling of products are included as a component of sales and marketing expense. Shipping and handling costs were approximately $0.6 million and $0.8 million for the years ended December 31, 2024 and December 31, 2023, respectively. Taxes Collected from Customers Taxes collected on the value of transaction revenue are excluded from product and services revenues and cost of sales and are accrued in current liabilities until remitted to governmental authorities. Accounts Receivable and Allowance for Expected Credit Losses Accounts receivable are customer obligations generally due under normal trade terms for the industry. Credit terms are granted and periodically revised based on evaluations of the customer’s financial condition. The Company performs ongoing credit evaluations of its customers. The Company’s payment terms are generally net 30 or 60 days from invoice date. The Company recognizes an allowance for credit losses at the time a receivable is recorded based on its estimate of expected credit losses and adjusts this estimate over the life of the receivable as needed. The Company evaluates the aggregation and risk characteristics of a receivable pool and develops loss rates that reflect historical collections, current forecasts of future economic conditions over the time horizon the Company is exposed to credit risk, and payment terms or conditions that may materially affect future forecasts. As needed, amounts are written-off when determined to be uncollectible. As of December 31, 2024 and 2023, the Company reported $13.8 million and $18.2 million, respectively, of accounts receivable, net of allowances of $0.1 million and $0.6 million, respectively. Inventories and Provision for Excess and Obsolete Inventory Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value. Inbound shipping and handling costs are classified as a component of cost of revenues in the consolidated statements of operations. The Company reviews the components of its inventory and its inventory purchase commitments on a regular basis for excess and obsolete inventory based on estimated future usage and sales. Write-downs in inventory value or losses on inventory purchase commitments depend on various items, including factors related to customer demand, economic and competitive conditions, technological advances or new product introductions by the Company or its customers that vary from its current expectations. Whenever inventory is written down, a new cost basis is established and the inventory is not subsequently written up if market conditions improve. Intangible Assets other than Goodwill Intangible assets include purchased finite-lived and indefinite-lived intangible assets resulting from previous acquisitions, along with the costs of non-exclusive and perpetual worldwide software technology licenses and capitalized software development costs for both internal and external use. Finite-lived intangible assets are amortized on a straight-line basis over the estimated useful lives of the assets, which range fr om two definite-lived intangible assets, including in-process capitalized software development costs, are not amortized; however, they are tested for impairment annually, and between annual tests, if certain events occur indicating that the carrying amounts may be impaired. Software Development Costs for External Use Software development costs for external use are expensed as incurred until technological feasibility has been established, at which time those costs are capitalized as intangible assets until the software is available for general release to customers. Capitalized software development costs are amortized on a straight-line basis over the estimated economic life. The straight-line recognition method approximates the manner in which the expected benefit will be derived. Costs incurred to enhance existing software or after the software is available for general release to customers are expensed in the period they are incurred and included in research and development expense in the consolidated statements of operations. At each balance sheet date, the unamortized capitalized software development cost for external use is compared to its net realizable value by analyzing critical inputs such as expected future lifetime revenue. The amount by which unamortized software costs exceed the net realizable value, if any, is recognized as a charge to impairment expense in the period it is determined. Software Development Costs for Internal Use Costs incurred in the preliminary stages of development are expensed as incurred and included in research and development or general and administrative expense in the consolidated statements of operations. Once an application has reached the development stage, internal and external costs, if direct and incremental, are capitalized. Capitalization ceases upon completion of all substantial testing performed to ensure the product is ready for its intended use. The Company also capitalizes costs related to specific upgrades and enhancements of internal-use software when it is probable that the expenditures will result in additional functionality. Maintenance and training costs are expensed as incurred. Capitalized internal-use software costs are recorded as intangible assets and are amortized on a straight-line basis to depreciation and amortization expense in the consolidated statement of operations over the estimated useful life of the software. The Company tests these assets for impairment whenever events or circumstances occur that could impact their recoverability. Valuation of Indefinite-Lived Intangible Assets The Company performs an annual impairment review of indefinite-lived assets during the fourth quarter of each year, and more frequently if the Company believes indicators of impairment exist. To review for impairment, the Company first assesses qualitative factors to determine whether events or circumstances lead to a determination that it is more likely than not that the fair value of the asset is less than its carrying amount. The Company’s qualitative assessment is based on various macroeconomic, industry-specific, and company specific factors. These factors include: (i) industry or economic trends; (ii) current, historical, or projected financial performance, and; (iii) the Company’s market capitalization. After assessing the totality of events and circumstances, if the Company determines that it is not more likely than not that the fair value of the asset is less than its carrying amount, then no further assessment is performed. If the Company determines that it is more likely than not that the fair value of the asset is less than its carrying amount, then the Company calculates the fair value of the asset and compares the fair value to the asset’s carrying value. An impairment charge is recognized if the asset’s estimated fair value is less than it’s carrying value. The Company did not record any impairment losses related to indefinite-lived intangible assets during the years ended December 31, 2024 and 2023. Goodwill Goodwill represents the excess purchase price over estimated fair value of net assets of businesses acquired in a business combination. Goodwill is tested for impairment during the fourth quarter of each year, and more frequently if the Company believes indicators of impairment exist. Valuation of Goodwill Goodwill is tested for impairment at the reporting unit level by first assessing qualitative factors to determine whether events or circumstances lead to a determination that it is more likely than not that the fair value of the Company’s reporting unit is less than its carrying amount. The Company’s qualitative assessment is based on various macroeconomic, industry-specific, and company specific factors. These factors include: (i) industry or economic trends; (ii) current, historical, or projected financial performance, and; (iii) the Company’s market capitalization. After assessing the totality of events and circumstances, if the Company determines that it is not more likely than not that the fair value of the Company’s reporting unit is less than its carrying amount, no further assessment is performed. If the Company determines that it is more likely than not that the fair value of the Company’s reporting unit is less than its carrying amount, the Company calculates the fair value of the reporting unit and compares the fair value to the reporting unit’s carrying amount. An impairment charge is recognized if the fair value of the business (reporting unit) is less than its carrying value. The Company has identified one reporting unit for the purpose of goodwill impairment testing and performed a qualitative test for goodwill impairment of the one reporting unit during the fourth fiscal quarter. Based upon the results of qualitative testing performed in the fourth quarter of both 2024 and 2023, the Company determined that it was more-likely-than not that the fair value of the reporting unit with goodwill were greater than their respective carrying values and no impairment loss related to goodwill was recorded during the years ended December 31, 2024 or 2023. Long-Lived Assets The Company periodically evaluates the carrying value of the unamortized balances of its long-lived assets, including property, plant and equipment and rental assets, to determine whether impairment of these assets has occurred or whether a revision to the related amortization periods should be made. If the carrying value of the long-lived asset group exceeds the estimated future undiscounted cash flows, an impairment loss is recorded based on the amount by which the asset group’s carrying amount exceeds its fair value. Fair value is determined based on an evaluation of the assets’ associated discounted future cash flows or appraised value . For the years ended December 31, 2024 and 2023, the Company had no impairment loss related to long-lived assets, except for the impairment of the capitalized software development costs for internal and external use, described further in Note 4 – Goodwill and Other Intangible Assets . Property, Plant and Equipment Property, plant and equipment are initially stated at cost and depreciated using the straight-line method. Land is not depreciated. Leasehold improvements are depreciated over the shorter of the related remaining lease period or useful life, not to exceed 5 years. Product tooling is depreciated over 13 months. Computer equipment, purchased software, vehicles, production equipment, and furniture and fixtures, are depreciated over useful lives ranging from 2 t

Held for Sale and Discontinued

Held for Sale and Discontinued Operations	12 Months Ended
	Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Held for Sale and Discontinued Operations	Held for Sale and Discontinued Operations As noted in Note 1 – Nature of Business and Significant Accounting Policies , on September 16, 2024 , the Company entered into the Purchase Agreement to sell its Telematics Business. On November 27, 2024, the Company completed the sale of its Telematics Business for an adjusted purchase price of $52.7 million and recognized a pre-tax gain on the sale of $18.5 million that was recognized in Income from discontinued operations, net of tax within the Consolidated Statements of Operations and Comprehensive Income. The operating results of the discontinued operations only reflect revenues and expenses that are directly attributable to the Telematics Business. The following table summarizes Income from discontinued operations, net of tax included in the Consolidated Statements of Operations and Comprehensive Income for the years ended December 31, 2024 and 2023 (in thousands): Year Ended December 31, 2024 2023 Services and other revenues $ 27,967 $ 28,402 Services and other cost of revenues 12,242 11,724 Gross profit from discontinued operations 15,725 16,678 Operating costs and expenses: Research and development 1,152 1,789 Sales and marketing 4,672 4,872 General and administrative 6,120 4,868 Depreciation and amortization 1,293 1,351 Impairment of capitalized software — 4,124 Total operating costs and expenses 13,237 17,004 Operating income from discontinued operations 2,488 (326) Other (expense) income: Interest income, net 12 14 Other income (expense), net (59) (16) Gain on sale of discontinued operation (a) 18,456 — Income from discontinued operations before income taxes 20,897 (328) Income tax provision 1,956 841 Income from discontinued operations, net of tax $ 18,941 $ (1,169) (a) The gain on sale realized in fiscal 2024 includes the release of Accumulated other comprehensive income of $6.1 million associated with the realization of cumulative translation gains attributed to the Telematics Business The following table summarizes the Company’s Telematics Business’ held for sale assets and liabilities in the Consolidated Balance Sheet (in thousands): December 31, ASSETS Current assets: Cash and cash equivalents $ 5,110 Accounts receivable, net 4,414 Inventories 2,325 Prepaid expenses and other 274 Current assets held for sale 12,123 Non-current assets: Property, plant and equipment, net 369 Rental assets, net 5,083 Intangible assets, net 1,422 Goodwill 17,973 Operating lease right-of-use assets 1,390 Non-current assets held for sale 26,237 Total assets held for sale $ 38,360 LIABILITIES Current liabilities: Accounts payable $ 1,387 Accrued expenses and other current liabilities 5,973 Current liabilities held for sale 7,360 Long-term liabilities: Operating lease liabilities 1,067 Deferred tax liabilities, net 568 Other long-term liabilities 9 Non-current liabilities held for sale 1,644 Total liabilities held for sale $ 9,004 The Company also entered into a transition services agreement (“TSA”) with the Purchaser of the Telematics Business that commenced on November 27, 2024, to provide and receive customary services that relate to information technology infrastructure, website hosting, and transition support for a period not expected to exceed approximately 10 months. Any amounts charged by the Company to the Purchaser under the TSA arrangement will not be recorded as revenue.

Financial Statement Details

Financial Statement Details	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statement Details	Financial Statement Details Inventories Inventories consist of the following (in thousands): December 31, 2024 2023 Finished goods $ 13,531 $ 18,939 Raw materials and components 44 1,616 Total inventories $ 13,575 $ 20,555 Prepaid expenses and other Prepaid expenses and other consists of the following (in thousands): December 31, 2024 2023 Rebate receivables $ 3,495 $ 1,950 Receivables from contract manufacturers 13 1,823 Other 2,418 1,164 Total prepaid expenses and other $ 5,926 $ 4,937 Property, plant and equipment Property, plant and equipment consists of the following (in thousands): December 31, 2024 2023 Test equipment $ 19,600 $ 19,600 Computer equipment and purchased software 3,711 3,643 Product tooling 5,182 5,153 Furniture and fixtures 739 739 Leasehold improvements 767 767 Total property, plant and equipment, gross 29,999 29,902 Less—accumulated depreciation and amortization (28,897) (27,513) Total property, plant and equipment, net $ 1,102 $ 2,389 Depreciation and amortization Depreciation and amortization expense related to property, plant and equipment was $1.4 million and $2.9 million for the years ended December 31, 2024 and 2023, respectively. Accrued expenses and other current liabilities Accrued expenses and other current liabilities consist of the following (in thousands): December 31, 2024 2023 Deferred revenue $ 9,245 $ 2,717 Payroll and related expenses 7,997 3,608 Accrued contract manufacturing liabilities 4,772 7,537 Operating lease liabilities 1,346 1,226 Royalties 954 845 Accrued interest 926 1,038 Other 4,893 4,078 Total accrued expenses and other current liabilities $ 30,133 $ 21,049 Other long-term liabilities Other long-term liabilities consist of the following (in thousands): December 31, 2024 2023 Long-term deferred revenue $ 4,608 $ 1,704 Other 147 647 Total other long-term liabilities $ 4,755 $ 2,351 As of December 31, 2024, of the $4.6 million long-term deferred revenue balance, $4.4 million relates to performance obligations expected to be satisfied between one and two years, and $0.3 million relates to performance obligations expected to be satisfied between two and three years from December 31, 2024.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The Company had a goodwill balance of $3.9 million at both December 31, 2024 and 2023. The Company’s intangible assets are comprised of the following (in thousands): December 31, 2024 Gross Carrying Value Accumulated Amortization Net Carrying Value Finite-lived intangible assets: Developed technologies $ 3,182 $ (3,182) $ — Trademarks and trade names 4,700 (4,588) 112 Customer relationships 8,500 (8,297) 203 Capitalized software development costs 31,620 (14,424) 17,196 Other 3,734 (3,067) 667 Total finite-lived intangible assets $ 51,736 $ (33,558) 18,178 Indefinite-lived intangible assets: In-process capitalized software development costs 569 Total intangible assets $ 18,747 December 31, 2023 Gross Carrying Value Accumulated Amortization Net Carrying Value Finite-lived intangible assets: Trademarks and trade names 4,700 (4,118) 582 Customer relationships 8,500 (7,447) 1,053 Capitalized software development costs 40,877 (17,075) 23,802 Other 2,882 (2,804) 78 Total finite-lived intangible assets $ 56,959 $ (31,444) 25,515 Indefinite-lived intangible assets: In-process capitalized software development costs 203 Total intangible assets $ 25,718 Amortization expense for the years ended December 31, 2024 and 2023 was approximately $11.1 million and $15.8 million, respectively, including approximately $9.6 million and $13.9 million related to capitalized software development costs for the years ended December 31, 2024 and 2023, respectively. For the years ended December 31, 2024 and 2023, the Company recorded $0.9 million and $1.1 million, respectively, of impairment losses on intangible assets related to capitalized software. The following table represents details of the amortization of finite-lived intangible assets that is estimated to be expensed in the future (in thousands): 2025 $ 6,290 2026 3,752 2027 3,247 2028 2,598 2029 1,388 Thereafter 903 Total $ 18,178

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s only financial instrument measured at fair value on a recurring basis is its interest make-whole payment derivative liability on its 2025 Convertible Notes (see Note 6 – Debt ). The fair value of that liability was zero as of both December 31, 2024 and 2023. The interest make-whole payment derivative liability is a Level 3 instrument. No transfers between levels occurred during the years ended December 31, 2024 and 2023. The fair value of the interest make-whole payment derivative liability was determined using a Monte Carlo model with the following key assumptions: December 31, 2024 December 31, 2023 Volatility 93 % 77 % Stock price $10.26 per share $2.20 per share Credit spread 14.00 % 92.20 % Term 0.34 years 1.34 years Dividend yield — % — % Risk-free rate 4.33 % 4.60 % The estimated fair value of the interest make-whole derivative liability at December 31, 2024 and 2023 was determined using assumptions which include an implied credit spread rate for notes with a similar term, the expected volatility and dividend yield of the Company’s common stock and the risk-free interest rate. During the years ended December 31, 2024 and 2023, there were no conversions of the 3.25% convertible senior notes due 2025 (the “2025 Convertible Notes”) into shares of the Company’s common stock. During the years ended December 31, 2024 and 2023, there were no changes in the fair value of the interest make-whole liability. Other Financial Instruments The carrying values of the Company’s other financial assets and liabilities approximate their fair values because of their short-term nature, with the exception of the 2029 Senior Secured Notes and 2025 Convertible Notes. The 2029 Senior Secured Notes and 2025 Convertible Notes are carried at amortized cost, with the 2025 Convertible notes being adjusted for changes in fair value of the embedded interest make-whole payment derivative. As detailed in Note 6 – Debt below, the 2029 Senior Secured Notes were initially recorded upon issuance at fair value. The fair value of the 2029 Senior Secured Notes was determined based on a discounted cash flow model, which represents a Level 3 measurement. The fair value was estimated using probability-weighted scenarios which include assumptions that are highly subjective and required judgment regarding significant matters, such as the timing of redemption, amount and timing of future cash flows and an adjusted market yield of 8.35%. The use of different assumptions could have a material effect on the fair value estimates. Also detailed below in Note 6 – Debt, the Short-Term Loan (defined below) was initially recorded at an amount equal to the allocated gross proceeds of the loan based on the relative fair values of the Short-Term Loan and the Short-Term Loan Warrants (defined below) issued in connection with the loan. The fair value of the Short-Term Loan used to allocate the gross proceeds was determined using a discounted cash flow model based on assumptions such as the amount and timing of the future cash flows and an estimated market yield of 27.57%, which represents a Level 3 measurement. Throughout the year ended December 31, 2024, the Company issued common stock warrants, including the Short-Term Loan Warrants, in connection with various debt restructuring arrangements, as discussed further in Note 6 – Debt. The warrants expire four years from their respective dates of issuance and are exercisable on a cash basis at any time before their expiration dates. The warrants are subject to adjustment for stock splits, reverse stock splits, stock dividends and similar transactions and contain customary registration rights with respect to the shares of common stock issuable upon exercise of the warrants. The warrants were issued with exercise prices ranging from $11.03 to $15.77. The warrants had a total grant date fair value of $30.8 million and were exercisable at issuance. The common stock warrants were initially valued using a Black-Scholes option-pricing model, which represents a Level 3 measurement. The following table provides weighted-average quantitative information, based on the relative number of warrants issued, regarding inputs used in the Black-Scholes option-pricing model to determine the fair value of the warrants at their respective issuance dates: Year Ended December 31, 2024 Exercise price $12.59 Expected dividend yield: — % Risk-free interest rate: 4.2 % Volatility: 95.1 % Expected term (in years): 4.0

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt 2029 Senior Secured Notes In connection with the 2025 Convertible Note exchange executed on November 6, 2024, as detailed further below in 2025 Convertible Note Repurchases and Exchanges , the Company issued to multiple noteholders approximately $40.9 million in principal amount of new senior secured notes due in 2029 (the “2029 Senior Secured Notes”). The 2029 Senior Secured Notes bear interest at 9.0% per annum, to be paid in cash, in arrears, on a semi-annual basis, and have a maturity date of May 1, 2029. The Company may, subject to certain provisions, issue additional principal amounts of the 2029 Senior Secured Notes with the same terms as the notes issued on November 6, 2024, with the exception of the first date on which interest expense begins to accrue. The 2029 Senior Secured Notes are secured by a first priority lien on substantially all of the Company’s assets. The Company may redeem all or part of the 2029 Senior Secured Notes at any time prior to May 1, 2029 at a redemption price equal to 100% of the principal amount of the 2029 Senior Secured Notes to be redeemed, plus the present value of the sum of all required interest payments from such redemption date through May 1, 2029 at such redemption date, plus accrued and unpaid interest on such 2029 Senior Secured Notes to, but excluding, the redemption date. The Company incurred $1.7 million of issuance costs for the 2029 Senior Secured Notes, $0.7 million of which was allocated to debt issuance costs and recorded as a direct reduction of the carrying amount of the 2029 Senior Secured Notes, $0.6 million of which was allocated to the common stock and $0.4 million of which was allocated to the warrants issued to the holders of the 2029 Senior Secured Notes and recorded within additional paid-in capital on the Consolidated Balance Sheets. These warrants are further detailed below in the 2025 Convertible Notes section and within Note 8 – Stockholders' Equity (Deficit) . The 2029 Senior Secured Notes were initially recorded at fair value, with all direct issuance costs being recorded as a direct reduction of the net carrying amount of the loan, resulting in an initial debt premium over the principal amount of the loan of $1.7 million that will be amortized to interest expense over the term of the loan. As of December 31, 2024, $40.9 million of principal of the 2029 Senior Secured Notes was outstanding, $31.8 million of which was held by related parties. The 2029 Senior Secured Notes, net consists of the following (in thousands): December 31, 2024 Principal gross amount $ 40,879 Add: unamortized debt premium 1,621 Less: unamortized issuance costs (670) Net carrying amount $ 41,830 Short-Term Loan On June 28, 2024, the Company entered into a Loan and Security Agreement (the “Short-Term Loan Agreement”), among South Ocean, as lender (“Lender”), the Participating Lenders (described below), the Company, as borrower, and two of the Company’s wholly-owned subsidiaries, Inseego Wireless, Inc. and Inseego North America LLC as guarantors (collectively, the “Guarantors,” and together with the Company, the “Loan Parties”). The Loan Agreement established a loan (the “Short-Term Loan”) with an original principal amount of $19.5 million. The Short-Term Loan was originally scheduled to mature on September 30, 2024 but maturity was subsequently extended to November 30, 2024. Borrowings under the Short-Term Loan accrued interest at 12.0% per annum. Upon any repayment or prepayment of the amounts borrowed under the Short-Term Loan (including at maturity), the Company was required to pay an exit fee equal to 4.0% of the aggregate principal amount prepaid or repaid. Also on June 28, 2024, as part of the Short-Term Loan Agreement, the Participating Lenders contributed an aggregate of $3.0 million of participation interests in the Short-Term Loan Agreement (the “Participation Interests”). The Participating Lenders consist of Philip Brace, the Company’s former Executive Chairman, who acquired a $1.0 million Participation Interest, and North Sound Ventures, LP, which acquired a $2.0 million Participation Interest in the Short-Term Loan. As of the date hereof, affiliates of each of the Lender and North Sound Ventures, LP may be deemed to beneficially own more than 5% of the Company’s outstanding Common Stock. James B. Avery, a member of the Company’s Board of Directors, currently serves as Senior Managing Director of Tavistock Group, an affiliate of the Lender. Accordingly, the Lender and the Participating Lenders are considered related parties of the Company. In connection with entering into the Short-Term Loan Agreement, the Company paid an arrangement and administration fee of $0.2 million to the Lender (the “Short-Term Loan Costs”). Additionally in connection with the Short-Term Loan Agreement, the Company issued to the Lender and the Participating Lenders warrants (the “Short-Term Loan Warrants”) to purchase an aggregate of 550,000 shares of the Company’s common stock, par value $0.001 per share (“Common Stock”). See Note 8 – Stockholders' Equity (Deficit) for further details regarding the Short-Term Loan Warrants. The gross proceeds received under the Short-Term Loan Agreement, along with the Short-Term Loan Costs, were allocated between the Short-Term Loan and the Short-Term Loan Warrants based on their relative fair values at issuance. The debt discount originally recorded as a result of the allocation of the net proceeds between the Short-Term Loan and the Short-Term Loan Warrants of $3.3 million was fully amortized to interest expense during the year ended December 31, 2024. After multiple voluntary prepayments, the remaining entire principal balance was repaid in full on November 30, 2024. 2025 Convertible Notes In May 2020, the Company completed both a registered public offering, and a privately negotiated exchange agreement, that resulted in the issuance of the 2025 Convertible Notes. After taking into account exchanges and redemptions, the outstanding principal balance of the 2025 Convertible Notes as of December 31, 2024 and December 31, 2023 was $14.9 million and $161.9 million, respectively. The 2025 Convertible Notes were issued under an indenture, dated May 12, 2020 (the “Base Indenture”), between the Company and Wilmington Trust, National Association, as trustee (the “Trustee”), as supplemented by the first supplemental indenture, dated May 12, 2020 (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), between the Company and the Trustee. The 2025 Convertible Notes will mature on May 1, 2025, unless earlier repurchased, redeemed or converted. The 2025 Convertible Notes are senior unsecured obligations of the Company and bear interest at an annual rate of 3.25%, payable semi-annually in arrears on May 1 and November 1 of each year. Holders of the 2025 Convertible Notes may convert the 2025 Convertible Notes into shares of the Company’s common stock (together with cash in lieu of any fractional share), at their option, at any time until the close of business on the scheduled trading day immediately before the maturity date. Upon conversion of the 2025 Convertible Notes, the Company will deliver for each $1,000 principal amount of 2025 Convertible Notes converted a number of shares of the Company’s common stock (together with cash in lieu of any fractional share), equal to the conversion rate. The initial conversion rate for the 2025 Convertible Notes is 7.92896 shares of common stock per $1,000 principal amount of 2025 Convertible Notes, which represents an initial conversion price of approximately $126.12 per share, and is subject to adjustment upon the occurrence of certain events, including, but not limited to, certain stock dividends, splits and combinations, the issuance of certain rights, options or warrants to holders of the common stock, certain distributions of assets, debt securities, capital stock or other property to holders of the common stock, cash dividends on the common stock and certain Company tender or exchange offers. If a fundamental change (as defined in the Indenture) occurs at any time prior to the maturity date, then the noteholders may require the Company to repurchase their 2025 Convertible Notes at a cash repurchase price equal to the principal amount of the 2025 Convertible Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date. If a make-whole fundamental change (as defined in the Indenture) occurs, then the Company will in certain circumstances increase the conversion rate for a specified period of time. The 2025 Convertible Notes will be redeemable, in whole or in part, at the Company’s option at any time, and from time to time, on or after May 6, 2023 through the last scheduled trading day before the maturity date, at a cash redemption price equal to the principal amount of the 2025 Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, as long as the last reported sale price per share of the common stock exceeds 130% of the conversion price on (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related redemption notice; and (ii) the trading day immediately before the date the Company sends such notice. The Indenture contains customary events of default. If an event of default (other than certain events of bankruptcy, insolvency or reorganization involving the Company) occurs and is continuing, the Trustee, by notice to the Company, or the holders of the 2025 Convertible Notes representing at least 25% in aggregate principal amount of the outstanding 2025 Convertible Notes, by notice to the Company and the Trustee, may declare 100% of the principal of, and all accrued and unpaid interest on, all of the then outstanding 2025 Convertible Notes to be due and payable immediately. Upon the occurrence of certain events of bankruptcy, insolvency or reorganization involving the Company, 100% of the principal of, and all accrued and unpaid interest on, all of the then outstanding 2025 Convertible Notes will automatically become immediately due and payable. Notwithstanding the foregoing, the Indenture provides that, to the extent the Company elects, the sole remedy for an event of default relating to certain failures by the Company to comply with certain reporting covenants in the Indenture will, for the first 360 days after such event of default, consist exclusively of the right to receive additional interest on the 2025 Convertible Notes. Interest make-whole payment The 2025 Convertible Notes also include an interest make-whole payment feature whereby if the last reported sale price of the Company’s common stock for each of the five The Company has determined that this feature is an embedded derivative and has recognized the fair value of this derivative as a liability in the consolidated balance sheets, with subsequent changes to fair value to be recorded at each reporting period on the consolidated statement of operations in other income, net. See Note 5 – Fair Value Measurements , for more information on this derivative liability. 2025 Convertible Note Repurchases and Exchanges Throughout the year ended December 31, 2024, the Company entered into a series of repurchase and exchange agreements with various holders of the Company’s 2025 Convertible Notes, some of whom were considered related parties of the Company. In summary, as a result of these repurchase and exchange agreements, the Company exchanged $146.9 million of outstanding principal of the 2025 Convertible Notes in exchange for $33.8 million of cash, $40.9 million of principal of the 2029 Senior Secured Notes, 2.9 million shares of the Company’s common stock, and warrants to purchase an aggregate of approximately 2.5 million shares of the Company’s common stock. As a result of these restructurings, the Company recorded a net loss on extinguishment of debt of $2.9 million within loss on debt restructurings, net in the Consolidated Statement of Operations and Comprehensive Income for the year ended December 31, 2024. For more information on the terms of the warrants issued as a part of these restructuring agreements, please see Note 8 – Stockholders' Equity (Deficit). As of December 31, 2024, no amount of principal of the 2025 Convertible Notes was held by related parties. As of December 31, 2023, $80.4 million of principal of the 2025 Convertible Notes was held by related parties. The 2025 Convertible Notes consist of the following (in thousands): December 31, 2024 2023 Principal $ 14,949 $ 161,898 Add: fair value of embedded derivative — — Less: unamortized debt discount (25) (1,106) Less: unamortized issuance costs (19) (880) Net carrying amount $ 14,905 $ 159,912 Asset-Backed Revolving Credit Facility On August 5, 2022, the Company entered into a Loan and Security Agreement (the “Credit Agreement”), by and among Siena Lending Group LLC, as lender (“Lender”), Inseego Wireless, Inc., a Delaware corporation (“Inseego Wireless”), a subsidiary of the Company, and Inseego North America LLC, an Oregon limited liability company, an indirect subsidiary of the Company, as borrowers (together with Inseego Wireless, the “Borrowers”), and the Company, as guarantor (together with the Borrowers, the “Loan Parties”) as subsequently amended. The Credit Agreement established a secured asset-backed revolving credit facility which is comprised of a maximum $50 million revolving credit facility (“Credit Facility”), with a minimum borrowing amount for interest calculations of $4.5 million upon execution of the Credit Agreement. Availability under the Credit Facility was determined monthly by a borrowing base comprised of a percentage of eligible accounts receivable and eligible inventory of the Borrowers. Outstanding amounts exceeding the borrowing base were to be repaid immediately. The Borrowers’ obligations under the Credit Agreement were guaranteed by the Company. The Credit Facility Parties’ obligations under the Credit Agreement were secured by a continuing security interest in all property of each Credit Facility Party, subject to certain Excluded Collateral (as defined in the Credit Agreement). On May 2, 2023, (1) two related parties, South Ocean Funding, LLC and North Sound Ventures, LP (collectively, the “Credit Facility Participants”) collectively purchased a $4.0 million last-out subordinated participation interest in the Credit Agreement (the “Credit Facility Participation Interest”) from the Lender, and (2) the Borrowers entered into an amendment to the Credit Agreement which increased the borrowing base under the Credit Facility by $4.0 million, increased the minimum borrowing amount for interest calculations to $8.5 million, a nd modified certain covenants. In connection with the purchase of the Credit Facility Participation Interest, we agreed to pay the Credit Facility Participants an aggregate exit fee (the “Exit Fee”) ranging from 7.5% to 12.5% of the amount of the Credit Facility Participation Interest, payable upon the earlier to occur of (a) the maturity date of the Credit Facility, (b) termination of the Lender’s commitment to make revolving loans prior to the scheduled maturity date of the Credit Facility, and (c) the early redemption of the Credit Facility Participation Interest, as applicable. Further, the purchase of the Credit Facility Participation Interest granted an option for the Credit Facility Participants to purchase the subject revolving loan or to redeem its Credit Facility Participation Interest under certain circumstances. The Credit Facility Participants are each affiliates of beneficial holders of greater than five percent of our outstanding common stock. Effective April 18, 2024, the Company exercised its right to voluntarily pay-off and terminate the Credit Facility. As a result of the termination, the Company paid the outstanding balance and related termination fees on the Credit Facility of approximately $3.0 million. The Company also paid the Exit Fee in the aggregate amount of $0.4 million to the Credit Facility Participants. South Ocean Funding, LLC is an affiliate of Golden Harbor, Ltd. and North Sound Ventures, LP is an affiliate of North Sound Management, Inc. As of April 18, 2024, each of Golden Harbor, Ltd. and North Sound Management, Inc. were beneficial owners of in excess of 5% of the Company’s outstanding common stock. As a result of the voluntary pay-off, the Company recorded a loss on extinguishment of debt of $0.8 million within loss on extinguishment of revolving credit facility on the Consolidated Statements of Operations and Comprehensive Income during the twelve months ended December 31, 2024 . Interest Expense Summary The following table sets forth total interest expense, annualized effective interest rate, and interest expense related to related parties, if applicable, for each of the debt instruments detailed above (in thousands, except for percentages): Year Ended December 31, 2024 2023 2029 Senior Secured Notes Contractual interest expense $ 562 Amortization of debt issuance costs 24 Amortization of debt discount/premium (57) Total interest expense $ 529 Related party interest expense $ 411 2025 Convertible Notes Contractual interest expense $ 3,912 $ 5,262 Amortization of debt issuance costs 489 659 Amortization of debt discount/premium 614 828 Total interest expense $ 5,015 $ 6,749 Related party interest expense $ 2,847 $ 3,350 Short-Term Loan Contractual interest expense $ 1,391 Amortization of debt discount/premium 3,330 Total interest expense $ 4,721 Related party interest expense $ 4,721 Credit Facility Contractual interest expense $ 312 $ 1,092 Accretion of exit fee 75 200 Amortization of debt issuance costs 117 466 Total interest expense $ 504 $ 1,758 Other interest expense 137 579 Consolidated interest expense $ 10,906 $ 9,086 The annualized effective interest rates, including the impact of non-cash interest expense, for the 2029 Senior Secured Notes, 2025 Convertible Notes, Short-Term Loan, and Credit facility for the year ended December 31, 2024 was 8.5%, 4.2%, 92.7% and 36.1%, respectively. The annualized effective interest rates, including the impact of non-cash interest expense, for the 2025 Convertible Notes and Credit facility for the year ended December 31, 2023 was 4.2% and 54.5%, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s loss before income taxes for the years ended December 31, 2024 and 2023 is comprised of the following (in thousands): Year Ended December 31, 2024 2023 Domestic $ (13,883) $ (45,262) Foreign 203 289 Loss before income taxes $ (13,680) $ (44,973) The (benefit) provision for income taxes for the years ended December 31, 2024 and 2023 is comprised of the following (in thousands): Year Ended December 31, 2024 2023 Current: Federal $ — $ — State 598 20 Foreign 29 14 Total current 627 34 Deferred: Federal (43) 9 State 105 — Foreign — — Total deferred 62 9 (Benefit) Provision for income taxes $ 689 $ 43 The Company’s net deferred tax liabilities consist of the following (in thousands): December 31, 2024 2023 Deferred tax assets: Accrued expenses $ 4,620 $ 1,185 Provision for excess and obsolete inventory 4,162 4,679 Capitalized research and experimental expenditures 11,216 8,629 Convertible debt 608 3,526 Depreciation and amortization 2,063 1,725 Interest expense limitation 19,944 18,689 Net operating loss and tax credit carryforwards 97,347 108,690 Share-based compensation 1,533 3,065 Operating lease liability 985 819 Other 351 — Deferred tax assets 142,829 151,007 Valuation allowances (141,628) (149,529) Deferred tax assets, net of valuation allowances 1,201 1,478 Deferred tax liabilities: Right of use asset (710) (1,085) Acquired intangible assets (665) (505) Deferred tax liabilities (1,375) (1,590) Deferred tax liabilities, net $ (174) $ (112) The Company recognizes federal, state and foreign current tax liabilities or assets based on its estimate of taxes payable to or refundable by tax authorities in the current fiscal year. The Company also recognizes federal, state and foreign deferred tax liabilities or assets based on the Company’s estimate of future tax effects attributable to temporary differences and carryforwards. The Company records a valuation allowance to reduce any deferred tax assets by the amount of any tax benefits that, based on available evidence and judgment, are not expected to be realized. The Company assesses whether a valuation allowance should be recorded against its deferred tax assets based on the consideration of all available evidence, using a “more likely than not” realization standard. The four sources of taxable income that must be considered in determining whether deferred tax assets will be realized are: (1) future reversals of existing taxable temporary differences (i.e., offset of gross deferred tax assets against gross deferred tax liabilities); (2) taxable income in prior carryback years, if carryback is permitted under the applicable tax law; (3) tax planning strategies; and (4) future taxable income exclusive of reversing temporary differences and carryforwards. At December 31, 2024 and 2023, the Company had valuation allowances of $141.6 million and $149.5 million, respectively. The decrease of $7.9 million in 2024 was primarily related to the utilization of net operating losses due to the Company’s taxable income position. During the year ended December 31, 2023, the valuation allowance increased by $9.3 million, primarily related to its deferred tax assets created during the year for entities with historical losses and full valuation allowances. Based on the Company’s current position on valuation allowance, no net income tax benefits resulted in the Company’s consolidated statements of operations from the operating losses created during those years. Beginning January 1, 2022, we are required to capitalize certain research and development expenditures in accordance with Section 174 of the Internal Revenue Code, as amended by the Tax Cuts and Jobs Act of 2017, instead of expensing such expenditures, as previously allowed. Amortization of such capitalized expenditures are allowed over a 5-year period if incurred domestically or a 15-year period if incurred outside the United States. The (benefit) provision for income taxes reconciles to the amount computed by applying the statutory federal income tax rate of 21% in 2024 and 2023 to loss before income taxes as follows (in thousands): Year Ended December 31, 2024 2023 Federal tax benefit, at statutory rate $ (2,535) $ (9,895) State provision, net of federal benefit 1,374 711 Foreign tax rate difference (17) (36) Foreign income inclusions 6,177 — Valuation allowance against future tax benefits (8,515) 9,296 Research and development credits (1,204) (760) Share-based compensation 1,989 1,622 Disallowance of loss on debt exchanges 3,344 — Non-deductible officers compensation 19 — True-up of prior year provisions 26 (942) Other 31 47 Provision for income taxes $ 689 $ 43 At December 31, 2024, the Company had U.S. federal net operating loss carryforwards (“NOLs”) related to tax years 2022 and prior of approximately $355.4 million. Approximately $107.2 million of these NOLs have no expiration date. The remainder will begin to expire in 2030, unless previously utilized. Some of these NOLs may be limited by either past or future changes in control events. The Company has California NOLs at December 31, 2024 of approximately $64.4 million, which begin to expire in 2031, unless previously utilized, and no foreign NOLs for its active foreign subsidiaries . At December 31, 2024, the Company had federal research and development tax credit carryforwards, net of unrecognized tax benefits, of approximately $11.4 million, which begin to expire in 2026, unless previously utilized, and California research and development tax credit carryforwards, net of unrecognized tax benefits, of approximately $11.4 million, which have no expiration date. Pursuant to Internal Revenue Code (“IRC”) Sections 382 and 383, annual use of the Company’s net operating loss and research and development credit carryforwards may be limited in the event a cumulative change in ownership of more than 50% occurs within a rolling three-year period. An analysis was performed for the period through December 31, 2024 and did not identify any events of such cumulative change in ownership during the review period. The Company will continue monitoring any future changes in stock ownership. It is the Company’s intention to reinvest undistributed earnings of its continuing foreign subsidiaries’ operations and thereby indefinitely postpone their remittance. Accordingly, no provision has been made for foreign withholding taxes on U.S. income taxes which may become payable if undistributed earnings of the foreign subsidiary were paid as dividends to the Company. The Company has recorded an income tax of $0.9 million representing estimated dividend withholding tax in connection with its plan to distribute funds from its discontinued Telematics operations in the first quarter of 2025. The Company follows the accounting guidance related to financial statement recognition, measurement and disclosure of uncertain tax positions. The Company recognizes the impact of an uncertain income tax position on an income tax return at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. No income tax benefit was recognized during the years ended December 31, 2024 and 2023. At December 31, 2024 and 2023, the Company did not have interest expense related to uncertain tax positions or a liability for unrecognized tax benefits. The Company does not expect changes to its uncertain tax position in the next twelve months. A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands): Balance at December 31, 2022 $ 42,915 Increases related to current and prior year tax positions 506 Decreases from lapses of statute of limitations and prior year tax positions (30,782) Balance at December 31, 2023 12,639 Increases related to current and prior year tax positions 719 Balance at December 31, 2024 $ 13,358 There are no tax benefits that, if recognized, would affect the effective tax rate that are included in the balances of unrecognized tax benefits at December 31, 2024. The Company and its subsidiaries file U.S., state and foreign income tax returns in jurisdictions with various statutes of limitations. The Company’s tax returns are subject to examination by federal, state and foreign taxing authorities. The Company’s federal and state tax returns are subject to examination for the years beginning in 2021 and 2020, respectively. Net operating loss carryforwards arising prior to these years are also open to examination, if and when utilized. The Company believes appropriate provisions for all outstanding issues have been made for all jurisdictions and all open years. However, because audit outcomes and the timing of audit settlements are subject to significant uncertainty, the Company’s current estimate of the total amounts of unrecognized tax benefits could increase or decrease for all open years. On August 16, 2022, Congress passed, and the President signed into law, the Inflation Reduction Act of 2022 (the “IRA”), which includes certain business tax provisions. The IRA provides for excise taxes on corporate stock buy-backs and a minimum tax on corporate financial statement income in excess of $1.0 billion. These new provisions became effective January 1, 2023. The IRA had no material impact on the Company’s effective tax rate or income tax expense for the year ending December 31, 2024.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity (Deficit)	Stockholders' Equity (Deficit) Preferred Stock The Company has a total of 2,000,000 shares of preferred stock authorized for issuance at a par value of $0.001 per share, 150,000 of which have been designated Series D Preferred Stock and 39,500 of which have been designated Series E Preferred Stock. As of December 31, 2024, the Company had 25,000 shares of Series E preferred stock issued and outstanding. Each share of Series E Preferred Stock entitles the holder thereof to receive, when and if declared by the Company out of assets legally available therefor, cumulative cash dividends at an annual rate of 9.00% payable quarterly in arrears on January 1 April 1, July 1 and October 1 of each year, beginning on March 1, 2020. If dividends are not declared and paid in any quarter, or if such dividends are declared but holders of the Series E Preferred Stock elect not to receive them in cash, the quarterly dividend will be deemed to accrue and will be added to the Series E Base Amount (as defined below). The Series E Preferred Stock has no voting rights unless otherwise required by law. The Series E Preferred Stock is perpetual and has no maturity date. However, the Company may, at its option, redeem shares of the Series E Preferred Stock, in whole or in part, on or after July 1, 2022, at a price equal to 110% of the Series E Base Amount plus (without duplication) any accrued and unpaid dividends. The “Series E Base Amount” means $1,000 per share, plus any accrued but unpaid dividends, whether or not declared by the Company’s Board of Directors, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series E Preferred Stock. In the event of a liquidation, dissolution or winding up of the Company, the holders of the Series E Preferred Stock will be entitled to receive, after satisfaction of liabilities to creditors and subject to the rights of holders of any senior securities, but before any distribution of assets is made to holders of common stock or any other junior securities, the Series E Base Amount plus (without duplication) any accrued and unpaid dividends. The aggregate liquidation preference of the issued and outstanding shares of Series E Preferred Stock as of December 31, 2024 was $38.4 million. Dividends declared, but not paid, related to the Series E Preferred Stock resulted in $13.4 million and $10.1 million of dividends accrued, approximating $535.71 and $404.93 per preferred share, as of December 31, 2024 and 2023, respectively. Common Stock As of December 31, 2024, the Company had 150,000,000 shares of $0.001 par value common stock authorized for issuance and 14,990,712 shares issued and outstanding. As noted in Note 6 – Debt , as part of the consideration exchanged in multiple repurchases of principal amounts of the Company’s 2025 Convertible Notes, the Company issued 2.9 million shares of its common stock during the year ended December 31, 2024. These shares were recorded at their grant date fair values at a cumulative amount of $44.9 million to additional paid-in capital within the consolidated balance sheet. As discussed in Note 5 – Fair Value Measurements above, the Company also incurred issuance costs related to the 2029 Senior Secured Notes and common stock issued, $0.6 million of which was allocated to the common stock issued and recorded within additional paid-in capital within the Company’s consolidated balance sheets. In January 2021, the Company entered into an Equity Distribution Agreement with Canaccord Genuity LLC (the “Agent”), pursuant to which the Company may offer and sell, from time to time, through or to the Agent, up to $40.0 million of shares of its common stock (the “ATM Offering”). During the year ended December 31, 2023 the Company sold 803,596 shares of common stock, at an average price of $7.54 per share, for net proceeds of $5.9 million, after deducting underwriter fees and discounts. Effective as of November 2, 2023, the Equity Distribution Agreement was terminated by the Company, and there will be no further sales under the ATM Offering. Warrants As noted in Note 6 – Debt , in connection with both the Short-Term Loan Agreement and the various exchange agreements entered into to repurchase principal amounts of the Company’s 2025 Convertible Notes, the Company issued warrants during the year ended December 31, 2024 to purchase an aggregate of 3.0 million shares of the Company’s common stock. The warrants expire four years from their date of issuance and are exercisable on a cash basis at any time before their expiration dates. The warrants are subject to adjustment for stock splits, reverse stock splits, stock dividends and similar transactions and contain customary registration rights with respect to the shares of common stock issuable upon exercise of the warrants. As of December 31, 2024, none of the warrants have been exercised. The warrants issued during the year ended December 31, 2024 are the only outstanding warrants as of December 31, 2024. There were no outstanding warrants issued as of December 31, 2023. The number and exercise price of the warrants issued during the year ended December 31, 2024 are as follows: Issuance Date Number of Shares to Purchase with Warrants Exercise price June 28, 2024 550,000 $ 12.12 July 18, 2024 236,074 $ 13.37 August 2, 2024 88,534 $ 11.03 October 24, 2024 20,646 $ 12.34 November 6, 2024 180,000 $ 11.27 November 6, 2024 1,543,363 $ 12.12 November 6, 2024 29,687 $ 12.34 November 6, 2024 370,000 $ 15.77 Total 3,018,304 The proceeds from the Short-Term Loan Agreement, along with the related Short-Term Loan Costs incurred, were allocated to the Short-Term Loan Warrants and Short-Term Loan based on their relative fair values. This allocation resulted in the Short-Term Loan Warrants having a net value of $3.2 million that the Company recorded within additional paid-in capital within the Company’s consolidated balance sheets. The warrants issued as part of the various repurchases and exchanges of principal balances of the 2025 Convertible Notes, during the year ended December 31, 2024 were recorded at a fair value of $27.6 million within additional paid-in capital within the Company’s consolidated balance sheets. As discussed in Note 5 – Fair Value Measurements above, the Company also incurred issuance costs related to the 2029 Senior Secured Notes and warrants, $0.4 million of which was allocated to the warrants issued and recorded within additional paid-in capital within the Company’s consolidated balance sheets.

Share-based Compensation

Share-based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation During the years ended December 31, 2024 and 2023, the Company granted awards under the 2018 Omnibus Incentive Compensation Plan, previously named the Amended and Restated 2009 Omnibus Incentive Compensation Plan (the “2018 Plan”). The Compensation Committee of the Board of Directors administers the plans. Under the 2018 Plan, shares of common stock may be issued upon the exercise of stock options, in the form of restricted stock, or in settlement of RSUs or other awards, including awards with alternative vesting schedules such as performance-based criteria. The 2018 Plan authorizes 5,775,308 shares, of which 2,602,875 remain available for future grants. For the years ended December 31, 2024 and 2023, the following table presents total share-based compensation expense in each functional line item on the consolidated statements of operations (in thousands): Year Ended December 31, 2024 2023 Cost of revenues $ 126 $ 662 Research and development 691 1,526 Sales and marketing 430 1,138 General and administrative 2,577 3,645 Income from discontinued operations, net of tax 115 473 Total $ 3,939 $ 7,444 Stock Options The Compensation Committee of the Board of Directors determines eligibility, vesting schedules and exercise prices for stock options granted. For performance stock awards subject to market-based vesting conditions, fair values are determined using the Monte-Carlo simulation model. Stock options generally have a term of ten years and vest over a three The following table presents the weighted-average assumptions used in the Black-Scholes valuation model by the Company in calculating the fair value of each stock option granted: Year Ended December 31, 2024 2023 Expected dividend yield — % — % Risk-free interest rate 4.2 % 4.3 % Volatility 95.1 % 173.6 % Expected term (in years) 4.0 4.4 The weighted-average fair value of stock option awards granted during the years ended December 31, 2024 and 2023 was $5.82 and $3.16, respectively. The following table summarizes the Company’s stock option activity for the years ended December 31, 2024 and 2023 (dollars in thousands, except per share data): Stock Weighted-Average Weighted-Average Aggregate Outstanding — December 31, 2022 813,296 $ 46.50 Granted 82,825 4.13 Exercised — — Canceled (350,249) 38.39 Outstanding — December 31, 2023 545,872 $ 44.16 Granted 44,250 8.40 Exercised (1,475) 15.53 Canceled (318,796) 54.28 Outstanding — December 31, 2024 269,851 $ 26.49 6.05 $ 619 Vested and Expected to Vest — December 31, 2024 248,326 $ 28.17 5.80 $ 526 Exercisable — December 31, 2024 164,405 $ 38.22 4.20 $ 149 The total intrinsic value of stock options exercised to purchase common stock during the year ended December 31, 2024 was approximately $0.1 million. As of December 31, 2024, total unrecognized share-based compensation expense related to non-vested stock options was $0.5 million, which is expected to be recognized over a weighted-average period of approximately 2.94 years. The Company recognized approximately $0.8 million and $4.0 million of share-based compensation expense related to the vesting of stock option awards during the years ended December 31, 2024 and 2023, respectively. Restricted Stock Units Pursuant to the 2018 Plan and the 2015 Plan, the Company may issue RSUs that, upon satisfaction of vesting conditions, allow recipients to receive common stock. Issuances of such awards reduce common stock available under the 2018 Plan and 2015 Plan for stock incentive awards. The Company measures compensation cost associated with grants of RSUs at fair value, which is generally the closing price of the Company’s stock on the date of grant. RSUs generally vest over a three A summary of restricted stock unit activity under all plans for the years ended December 31, 2024 and 2023 is presented below: Number of Shares Weighted-Average Grant-Date Fair Value Non-vested — December 31, 2022 117,837 73.30 Granted 366,713 5.78 Vested (246,706) 12.92 Forfeited (34,836) 39.77 Non-vested — December 31, 2023 203,008 19.84 Granted 1,106,862 9.34 Vested (164,288) 13.42 Forfeited (33,741) 31.68 Non-vested — December 31, 2024 1,111,841 10.00 During the years ended December 31, 2024 and 2023, the total fair value of shares vested was $2.0 million and $1.2 million, respectively. As of December 31, 2024, there was $6.9 million of unrecognized share-based compensation expense related to non-vested RSUs, which is expected to be recognized over a weighted-average period of 3.17 years. The Company recognized approximately $3.1 million and $3.3 million of share-based compensation expense related to the vesting of RSUs during the years ended December 31, 2024 and 2023, respectively. 2000 Employee Stock Purchase Plan The ESPP permits eligible employees of the Company to purchase newly issued shares of common stock, at a price equal to 85% of the lower of the fair market value on (i) the first day of the offering period or (ii) the last day of each six-month purchase period, through payroll deductions of up to 10% of their annual cash compensation. Under the ESPP, a maximum of 722,280 shares of common stock may be purchased by eligible employees. During the years ended December 31, 2024 and 2023, the Company issued 26,096 shares and 64,150 shares, respectively, under the ESPP. The Company recognized approximately $0.1 million and $0.1 million of share-based compensation expense related to the ESPP during the years ended December 31, 2024 and 2023, respectively.

Income (Loss) per Share

Income (Loss) per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Income (Loss) per Share	Income (Loss) per Share Basic income (loss) per share (“EPS”) excludes dilution and is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock using the treasury stock method. Potentially dilutive securities (consisting primarily of the 2025 Convertible Notes calculated using the if-converted method and warrants, stock options and RSUs calculated using the treasury stock method) are excluded from the diluted EPS computation in loss periods and when their effect would be anti-dilutive. The calculation of basic and diluted earnings per share was as follows (in thousands, except share and per share data): Income/(Loss) Shares* Per-Share Amount Year Ended December 31, 2024 Basic and Diluted EPS Loss from continuing operations $ (14,369) Less: preferred stock dividends (3,269) Loss from continuing operations attributable to common stockholders (17,638) 12,535,756 $ (1.41) Income from discontinued operations, net of tax 18,941 12,535,756 $ 1.51 Income attributable to common stockholders $ 1,303 12,535,756 $ 0.10 Year Ended December 31, 2023 Basic and Diluted EPS Loss from continuing operations $ (45,016) Less: preferred stock dividends (2,991) Loss from continuing operations attributable to common stockholders (48,007) 11,372,069 $ (4.22) Loss from discontinued operations, net of tax (1,169) 11,372,069 $ (0.10) Loss attributable to common stockholders $ (49,176) 11,372,069 $ (4.32) (*) Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1 The following is a summary of outstanding potential shares of common stock that have been excluded from the computation of diluted net loss per share attributable to common stockholders because their inclusion would have been anti-dilutive (in thousands): Year Ended December 31, 2024 2023 2025 Convertible Notes 119 1,291 Common stock warrants 3,018 — Non-qualified stock options 270 546 Restricted stock units 1,112 203 Employee Stock Purchase Plan 29 25 Total 4,548 2,065

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Noncancellable Purchase Obligations The Company typically enters into commitments with its contract manufacturers and other vendors that require future purchases of goods or services in the upcoming three to four quarters following the balance sheet date. Such commitments are noncancellable (“noncancellable purchase obligations). As of December 31, 2024, future payments under these noncancellable purchase obligations were approximately $44.9 million. Legal The Company is, from time to time, party to various legal proceedings arising in the ordinary course of business. The Company is regularly required to directly or indirectly participate in other U.S. patent infringement actions pursuant to its contractual indemnification obligations to certain customers. Based on an evaluation of these matters the Company currently believes that liabilities arising from, or sums paid in settlement of these existing matters, if any, would not have a material adverse effect on its consolidated results of operations or financial condition. Indemnification In the normal course of business, the Company periodically enters into agreements that require the Company to indemnify and defend its customers for, among other things, claims alleging that the Company’s products infringe upon third-party patents or other intellectual property rights. The Company’s maximum exposure under these indemnification provisions cannot be estimated but the Company does not believe that there are any matters individually or collectively that would have a material adverse effect on its consolidated results of operations or financial condition.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases The components of the right-of-use assets and lease liabilities were as follows (in thousands): Balance Sheet Classification December 31, December 31, Operating right-of-use assets, net Operating lease right-of-use assets $ 2,855 $ 4,022 Current operating lease liabilities Accrued expenses and other current liabilities $ 1,346 $ 1,226 Non-current operating lease liabilities Operating lease liabilities 2,627 3,972 Total operating lease liabilities $ 3,973 $ 5,198 Weighted-average remaining lease term (in years) 2.7 3.6 Weighted-average discount rate 9.0 % 9.0 % The components of lease cost were as follows (in thousands): Year Ended December 31, 2024 2023 Operating lease costs included in operating costs and expenses $ 1,578 $ 1,521 Supplemental cash flow information related to leases was as follows (in thousands): Year Ended December 31, 2024 2023 Operating cash flows related to operating leases $ 1,636 $ 1,659 Operating right-of-use assets obtained in exchange for lease liabilities $ — $ — The future minimum payments under operating leases were as follows at December 31, 2024 (in thousands): 2025 $ 1,637 2026 1,687 2027 1,131 Total minimum operating lease payments 4,455 Less: amounts representing interest (482) Present value of net minimum operating lease payments 3,973 Less: current portion (1,346) Long-term portion of operating lease obligations $ 2,627
Leases	Leases The components of the right-of-use assets and lease liabilities were as follows (in thousands): Balance Sheet Classification December 31, December 31, Operating right-of-use assets, net Operating lease right-of-use assets $ 2,855 $ 4,022 Current operating lease liabilities Accrued expenses and other current liabilities $ 1,346 $ 1,226 Non-current operating lease liabilities Operating lease liabilities 2,627 3,972 Total operating lease liabilities $ 3,973 $ 5,198 Weighted-average remaining lease term (in years) 2.7 3.6 Weighted-average discount rate 9.0 % 9.0 % The components of lease cost were as follows (in thousands): Year Ended December 31, 2024 2023 Operating lease costs included in operating costs and expenses $ 1,578 $ 1,521 Supplemental cash flow information related to leases was as follows (in thousands): Year Ended December 31, 2024 2023 Operating cash flows related to operating leases $ 1,636 $ 1,659 Operating right-of-use assets obtained in exchange for lease liabilities $ — $ — The future minimum payments under operating leases were as follows at December 31, 2024 (in thousands): 2025 $ 1,637 2026 1,687 2027 1,131 Total minimum operating lease payments 4,455 Less: amounts representing interest (482) Present value of net minimum operating lease payments 3,973 Less: current portion (1,346) Long-term portion of operating lease obligations $ 2,627

Segment, Geographic, and Concen

Segment, Geographic, and Concentrations of Risk Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment, Geographic, and Concentrations of Risk Information	Segment, Geographic, and Concentrations of Risk Information Segment Information As previously detailed in Note 1 – Nature of Business and Significant Accounting Policies, the Company operates as one reportable segment. As of December 31, 2024, the Company’s Chief Operating Decision Maker (“CODM”) was its Executive Chairman. The Company’s Executive Chairman left the Company in February 2025, at which point, the Company’s CODM became its Chief Executive Officer. Neither of these CODMs manage any part of the Company separately, and the allocation of resources and assessment of performance is based solely on the Company’s consolidated operations and financial results. The accounting policies of our one reportable segment are the same as those described in Note 1 – Nature of Business and Significant Accounting Policies. The CODM uses net income (loss) in evaluating the performance of our single reportable segment and determining how to allocate resources of the Company as a whole, including investing in our products, services and customers. As the Company only has one reportable segment, the measure of segment assets is reported on the balance sheet as total consolidated assets. The following table details the revenues, significant expenses and other segment items regularly provided to the CODM: Year Ended December 31, 2024 2023 Revenues $ 191,244 $ 167,286 Less: Adjusted cost of revenues (1) 122,321 130,847 Adjusted research and development (2) 19,905 18,199 Adjusted sales and marketing (2) 15,522 15,495 Adjusted general and administrative (3) 13,203 11,738 Adjusted depreciation and amortization (4) 11,048 17,088 Capitalizable software development expenditures 4,248 7,350 Capitalized software development expenditures (4,248) (7,350) Share-based compensation 3,823 6,972 Amortization of purchased intangible assets related to business combinations 1,320 1,320 Impairment of capitalized software 927 1,115 Right-of-use asset impairment 138 469 Debt restructuring costs 1,322 — Loss on debt restructurings, net 2,851 — Loss on extinguishment of revolving credit facility 788 — Interest expense, net 10,906 9,086 Other income (expense), net 850 (70) Income tax provision 689 43 Segment net income (loss) $ (14,369) $ (45,016) Reconciliation of profit or loss Income (Loss) from discontinued operations, net of tax 18,941 (1,169) Consolidated net income (loss) $ 4,572 $ (46,185) (1) Excludes any share-based compensation expense. (2) Excludes any depreciation and amortization or share-based compensation expense. (3) Excludes any depreciation and amortization, share-based compensation expense, right-of-use asset impairments, or debt restructuring costs. (4) Excludes amortization of purchased intangible assets. Geographic Information The following table details the Company’s revenues by geographic region based on shipping destination (in thousands): Year Ended December 31, 2024 2023 United States and Canada $ 184,324 $ 163,490 Europe (including United Kingdom) 5,298 2,586 Other 1,622 1,210 Total $ 191,244 $ 167,286 Substantially all of the Company’s long-term assets are located within the United States. Concentrations of Risk Customer Concentrations For the year ended December 31, 2024, two customers accounted for 41.9% and 33.6% of revenues, respectively. For the year ended December 31, 2023, three customers accounted for 37.0%, 31.8%, and 17.6% of revenues, respectively. At December 31, 2024, three customers accounted for 33.6%, 22.8%, and 18.8% of total accounts receivable, net, respectively. At December 31, 2023, three customers accounted for 51.9%, 12.7% and 10.6% of total accounts receivable, net, respectively. Concentrations in the Available Sources of Supply of Materials and Product

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Appointment of New Chief Executive Officer On January 6, 2025, the Company’s Board of Directors appointed Juho Sarvikas as Chief Executive Officer of the Company, effective immediately. Mr. Sarvikas was also appointed as a member of the Company’s Board of Directors. Mr. Sarvikas, 42, has worked most recently as president of North America for Qualcomm Incorporated since April 2021. Mr. Sarvikas was granted the following equity awards pursuant to his appointment: (i) options to purchase 855,000 shares of common stock, which are subject to both service and market-based vesting requirements and vest over four years; (ii) 167,910 restricted stock units which are subject to both service and market-based vesting requirements and vest over three years; and (iii) 124,347 restricted stock units which are subject only to service conditions and vest over four years.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 4,572	$ (46,185)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We recognize the critical importance of maintaining the safety and security of our technology systems and data and have a holistic process for overseeing and managing cybersecurity and information technology related risks. This process is supported by both management and our Board. The Audit Committee (the “Audit Committee”) of our Board has oversight of the Company’s risk management program, and cybersecurity is a component of our overall approach to risk management. Our cybersecurity policies, standards, processes, and practices are integrated across our operational risk management programs and are based on recognized frameworks. A cybersecurity threat is any potential unauthorized occurrence, on or conducted through, our information systems that may result in material adverse effects on the confidentiality, integrity or availability of our information systems or any information residing therein. We are committed to protecting the security and integrity of our systems, networks, databases and applications and, as a result, have dedicated resources and implemented processes designed to prevent, assess, identify, and manage material risks associated with cybersecurity threats. Cybersecurity risk management and strategy As one of the critical elements of our overall risk management program, our cybersecurity program is focused on the following key areas: • Technical Safeguards: We deploy technical safeguards that are designed to protect our information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality, Security information and event management, Managed detection and response and access controls, which are regularly evaluated and improved through vulnerability assessments and cybersecurity threat intelligence. • Incident Response & Recovery Planning: We have established and maintain incident response and recovery plans that address our response procedures in the event of a multitude of various cybersecurity incidents. We leverage a Managed Detection and Response service which further helps support our internal security team to identify real time threats across our landscape. • Risk Management: We maintain a preemptive and comprehensive risk-based approach to identifying and overseeing potential cybersecurity risks across our entire technology stack. Our cybersecurity program is built upon internationally recognized frameworks, such as ISO 27001, and maps to standards published by The National Institute of Standards and Technology. This approach also includes third-party risk management issues presented by third parties, including our vendors, service providers and other external users of our systems. We conduct cybersecurity assessments of third-party vendors that we engage with in our operations to identify and evaluate potential vulnerabilities. We also evaluate certain core operational capabilities of our third-party vendors. In addition, our agreements with material vendors include indemnification provisions with respect to cybersecurity matters. • Outside Consultants: In addition to the broad capabilities of our internal information security team, we also engage various outside consultants, including contractors, auditors, and other third parties, to among other things , conduct regular testing of our networks and systems to identify vulnerabilities through penetration testing, while also measuring and advise on potential improvements to our incident prevention, response, and documentation procedures. • Team Member Education & Awareness:
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Cybersecurity risk management and strategy As one of the critical elements of our overall risk management program, our cybersecurity program is focused on the following key areas: • Technical Safeguards: We deploy technical safeguards that are designed to protect our information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality, Security information and event management, Managed detection and response and access controls, which are regularly evaluated and improved through vulnerability assessments and cybersecurity threat intelligence. • Incident Response & Recovery Planning: We have established and maintain incident response and recovery plans that address our response procedures in the event of a multitude of various cybersecurity incidents. We leverage a Managed Detection and Response service which further helps support our internal security team to identify real time threats across our landscape. • Risk Management: We maintain a preemptive and comprehensive risk-based approach to identifying and overseeing potential cybersecurity risks across our entire technology stack. Our cybersecurity program is built upon internationally recognized frameworks, such as ISO 27001, and maps to standards published by The National Institute of Standards and Technology. This approach also includes third-party risk management issues presented by third parties, including our vendors, service providers and other external users of our systems. We conduct cybersecurity assessments of third-party vendors that we engage with in our operations to identify and evaluate potential vulnerabilities. We also evaluate certain core operational capabilities of our third-party vendors. In addition, our agreements with material vendors include indemnification provisions with respect to cybersecurity matters. • Outside Consultants: In addition to the broad capabilities of our internal information security team, we also engage various outside consultants, including contractors, auditors, and other third parties, to among other things , conduct regular testing of our networks and systems to identify vulnerabilities through penetration testing, while also measuring and advise on potential improvements to our incident prevention, response, and documentation procedures. • Team Member Education & Awareness:
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board has delegated to the Audit Committee the responsibility for monitoring and overseeing our cybersecurity and other information technology risks, controls, strategies and procedures. The Audit Committee periodically evaluates our information security strategies to ensure effectiveness and, if appropriate, may also include a review from third-party consultants and experts. Senior management updates the Board and Audit Committee on matters regarding information security policies and procedures and cybersecurity risk management strategy. In addition, the full Board may review and assess cybersecurity risks as part of its responsibilities for our risk management oversight. In addition, we have an IT Security Committee comprised of our top executives from across the Company, including our Chief Executive Officer, Chief Financial Officer, General Counsel, and our VP of Information Technology and Security. The IT Security Committee meets quarterly to discuss and address management of the risks facing our business. Technological risk is a regular component analyzed by our IT Security Committee to identify and assess potential cybersecurity risks across our business operations.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board has delegated to the Audit Committee the responsibility for monitoring and overseeing our cybersecurity and other information technology risks, controls, strategies and procedures.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	In addition, we have an IT Security Committee comprised of our top executives from across the Company, including our Chief Executive Officer, Chief Financial Officer, General Counsel, and our VP of Information Technology and Security. The IT Security Committee meets quarterly to discuss and address management of the risks facing our business. Technological risk is a regular component analyzed by our IT Security Committee to identify and assess potential cybersecurity risks across our business operations.
Cybersecurity Risk Role of Management [Text Block]	The Audit Committee periodically evaluates our information security strategies to ensure effectiveness and, if appropriate, may also include a review from third-party consultants and experts. Senior management updates the Board and Audit Committee on matters regarding information security policies and procedures and cybersecurity risk management strategy. In addition, the full Board may review and assess cybersecurity risks as part of its responsibilities for our risk management oversight.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Board has delegated to the Audit Committee the responsibility for monitoring and overseeing our cybersecurity and other information technology risks, controls, strategies and procedures. The Audit Committee periodically evaluates our information security strategies to ensure effectiveness and, if appropriate, may also include a review from third-party consultants and experts. Senior management updates the Board and Audit Committee on matters regarding information security policies and procedures and cybersecurity risk management strategy. In addition, the full Board may review and assess cybersecurity risks as part of its responsibilities for our risk management oversight.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our information security team is led by our VP of Information Technology and Security, who has decades of experience in information technology and cybersecurity. Furthermore, our VP of Information Technology and Security holds several certifications, including CISSP (Certified Information Systems Security Professional), ACCISO (Associate Certified Chief Information Security Officer) and CISM (Certified Information Security Manager).
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The IT Security Committee meets quarterly to discuss and address management of the risks facing our business.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Nature of Business and Signif_2

Nature of Business and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Basis of presentation	Basis of presentation The consolidated financial statements of Inseego Corp. present information in accordance with generally accepted accounting principles in the U.S. (“GAAP”), have been prepared pursuant to the rules and regulations of the SEC and, in the opinion of management, present fairly the consolidated financial position, results of operations and cash flows of the Company and its wholly-owned subsidiaries for the periods presented.
Reclassifications	Reclassifications Certain amounts recorded in the prior period consolidated financial statements have been reclassified to conform to the current period financial statement presentation. These reclassifications had no effect on previously reported operating results.
Held for Sale and Discontinued Operations	In accordance with the authoritative guidance for discontinued operations (Accounting Standards Codification (“ASC”) 205-20), the Company determined that the Telematics Business met the held-for sale and discontinued operations accounting criteria at the end of the third quarter of 2024. Accordingly, within these consolidated financial statements, the assets and liabilities associated with the Telematics Business disposal group prior to its sale have been classified as held for sale within the Consolidated Balance Sheets and its operations and cash flows have been classified as discontinued operations within the Consolidated Statements of Operations and Comprehensive Income and Consolidated Statements of Cash Flows. Held for Sale and Discontinued Operations The Company classifies assets and liabilities to be sold (disposal group) as held for sale in the period when all of the applicable criteria are met, including: (i) management commits to a plan to sell, (ii) the disposal group is available to sell in its present condition, (iii) there is an active program to locate a buyer, (iv) the disposal group is being actively marketed at a reasonable price in relation to its fair value, (v) significant changes to the plan to sell are unlikely, and (vi) the sale of the disposal group is generally probable of being completed within one year. Management performs an assessment at least quarterly or when events or changes in business circumstances indicate that a change in classification may be necessary. Assets and liabilities held for sale are presented separately within the Consolidated Balance Sheets with any adjustments necessary to measure the disposal group at the lower of its carrying value or fair value less costs to sell. Depreciation of property, plant and equipment and amortization of intangible and right-of-use assets are not recorded while these assets are classified as held for sale. For each period the disposal group remains classified as held for sale, its recoverability is reassessed and any necessary adjustments are made to its carrying value. No impairment upon classification as held for sale was recorded during the years ended December 31, 2024 or 2023. The Company reports the results of operations of a business as discontinued operations if a disposal represents a strategic shift that will have a major effect on its operations and financial results. The results of discontinued operations are reported as Income from discontinued operations, net of tax in the Consolidated Statements of Operations and Comprehensive Income for the current and prior periods commencing in the period in which the held for sale criteria are met. Income from discontinued operations, net of tax includes direct costs attributable to the divested business and excludes any cost allocations associated with any shared or corporate functions unless otherwise dedicated to the divested business. Income from discontinued operations, net of tax will include any gain or loss recognized upon disposition or from adjustment of the carrying amount to fair value less costs to sell while classified as held for sale. Transactions between the businesses held for sale and businesses held for use that are expected to continue after the disposal are not eliminated in order to appropriately reflect the continuing operations as well as the activity to be disposed of. Interest costs are included as a component of Income from discontinued operations, net of tax for debt specifically attributable to the discontinued operation or debt that is obligated to be repaid in connection with the completion of the divestiture. Activity within comprehensive income directly associated with a divested business is not realized as a component of Income from discontinued operations, net of tax until completion of the sale or disposition.
Segment Information	Segment Information
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent liabilities. Actual results could differ materially from these estimates. Estimates are assessed each period and updated to reflect current information. Significant estimates include revenue recognition, capitalized software costs, allowance for credit losses, provision for excess and obsolete inventory, accrued liabilities related to our contract manufacturers, valuation of tangible and intangible long-lived assets, valuation of goodwill, valuation of derivatives, accruals relating to litigation, income taxes and share-based compensation expense.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash
Revenue Recognition	Revenue Recognition The Company’s products and services primarily include mobile hotspots, wireless routers, and USB modems, which are supported by software and cloud services designed to enable customers to easily analyze data insights and configure and manage their hardware. The Company classifies its revenues from the sale of its products and services into two categories, Product Revenue, which consists of our Mobile Solutions and Fixed Wireless Access Solutions, and Services and Other. A description of each of the Company’s 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 Services and Other below. Our Mobile Solutions customer base is primarily comprised of mobile operators. These mobile operators include Verizon Wireless, T-Mobile and U.S. Cellular 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 fully 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 Services and Other below. These devices, sold under the Wavemaker brands, are sold by mobile operators such as T-Mobile, U.S. Cellular and Verizon Wireless along with distribution and channel partners. Services and Other: A substantial majority of our Services and Other revenue comes from providing a SaaS wireless subscriber management solution (Inseego Subscribe) for carrier’s management of their government and complex enterprise customer subscriptions. 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 Service and Other revenue. Revenue Recognition Criteria The Company follows Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (as amended, “ASC 606”), which provides guidance on recognizing revenue, including a five-step model to determine when revenue recognition is appropriate. The standard requires that an entity recognize revenue to depict the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company recognizes revenue upon transfer of control of products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company determines revenue recognition according to the following five steps: (i) identification of the contract, or contracts, with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to the performance obligations in the contract; and (v) recognition of revenue when, or as, performance obligations are satisfied. Substantially all of our product revenues are recognized at a point in time, while substantially all of our service and other revenues are recognized over time. Customer Contracts The Company routinely enters into a variety of agreements with customers, including quality agreements, pricing agreements and master supply agreements which outline the general commercial terms and conditions under which the Company does business with a specific customer, including shipping terms and pricing for the products and services that the Company offers. The Company also sells to some customers solely based on purchase orders. The Company has concluded, for the vast majority of its revenues, that its contracts with customers are either a purchase order or the combination of a purchase order with a master supply agreement. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Performance Obligations The Company’s performance obligations are generally established when a customer submits a purchase order notification for goods and services, and the Company accepts the order. The Company identifies performance obligations as the delivery of the requested product or service in appropriate quantities and to the location specified in the customer’s contract and/or purchase order. The Company generally recognizes revenue upon the satisfaction of these criteria when control of the product or service has been transferred to the customer at which time the Company has an unconditional right to receive payment. The Company’s prices are fixed and have no history of being affected by contingent events that could impact the transaction price. The Company generally does not offer price concessions and does not accept payment that is less than the price stated upon acceptance of a customer purchase order. The Company enters into contracts that may include various combinations of products and services which are generally capable of being distinct and accounted for as separate performance obligations. Hardware. Hardware revenue from the sale of the Company’s devices is recognized when the Company transfers control to the customer, typically at the time when the product is delivered, shipped or installed, at which time, title passes to the customer and there are no further performance obligations with regards to the hardware device. The Company also considered the performance obligations in its customer master supply agreements and determined that, for the majority of its revenue, the Company generally satisfies performance obligations at a point in time upon delivery of the product to the customer. Maintenance and support services revenue. Periodically, the Company sells separately-priced warranty contracts that extend beyond the Company’s base warranty period. The separately priced service contracts range from 12 to 36 months. The Company typically receives payment at the inception of the contract and recognizes revenue as earned on a straight-line basis over the term of the contract. The Company’s estimated allowances for product warranties can vary from actual results and the Company may have to record additional charges to cost of revenue. Within cost of revenue, the Company records an estimate to reflect its standard warranty obligation to end users to provide for replacement of a defective product. The standard obligation period for most regions is 12 months. Factors that affect the warranty obligation include product failure rates, material usage, and service delivery costs incurred in correcting product failures. SaaS and other services. SaaS subscription revenue is recognized over time on a ratable basis over the contract term beginning on the date that its service is made available to the customer. Subscription periods range from monthly to multi-year, with the majority of contracts being one Professional services revenue. From time to time, the Company enters into special engineering design service agreements. Revenues from engineering design services are designed to meet specifications of a particular product, and therefore do not create an asset with an alternative use. The Company recognizes revenue based on the achievement of certain applicable milestones and the amount of payment the Company believes it is entitled to at the time. Multiple performance obligations. The Company’s contracts with customers may include commitments to transfer multiple products and services to a customer. When hardware, software and services are sold in various combinations, judgment is required to determine whether each performance obligation is considered distinct and accounted for separately, or not distinct and accounted for together with other performance obligations. When there are multiple performance obligations within a single contract, the Company allocates the total contract price to each distinct performance obligation based on their stand-alone selling prices (“SSPs”). Judgment is required to determine the SSP for each distinct performance obligation. When available, the Company uses observable inputs to determine SSP. In instances where the software elements included within hardware for various products are considered to be functioning together with non-software elements to provide the tangible product’s essential functionality, these arrangements are accounted for as a single distinct performance obligation. Contract Assets The Company capitalizes sales commissions earned by its sales force as contract acquisition costs if such costs are significant and both incremental and recoverable. Any capitalized sales commissions are either deferred and amortized over a period of benefit exceeding one year or are expensed as incurred if the period of benefit is one year or less. There were no contract assets related to customer acquisition costs as of December 31, 2024 or 2023 since the Company’s customer contracts are predominantly hardware sales that are immediately recognized as revenue upon either shipment or delivery, and therefore the related contract acquisition costs are also immediately recognized. Sales commissions are included in sales and marketing expense as incurred. Sales commissions associated with SaaS offerings are not material. Contract Liabilities Timing of revenue recognition may differ from the timing of invoicing to customers. If customers are invoiced for subscription services in advance of the service period, then deferred revenue is recorded. Contract liabilities are also recorded when the Company collects payments in advance of performing the services. As of December 31, 2024 and 2023, the Company had contract liabilities comprised of $9.2 million and $2.7 million of short-term deferred revenue included within accrued expenses and other current liabilities and $4.6 million and $1.7 million of long-term deferred revenue included within other long-term liabilities on the consolidated balance sheets, respectively. During the years ended December 31, 2024 and 2023, $21.0 million and $2.8 million, respectively, of revenue was deferred due to unsatisfied performance obligations for service contracts and undelivered product commitments, $11.5 million and $1.3 million, respectively, of revenue was recognized for the satisfaction of performance obligations, and $2.7 million and $1.6 million, respectively, of this recognized revenue was included in the contract liability balance at the beginning of the period, respectively. Cost of Revenues Cost of revenues includes the costs associated with the manufacturing of our portfolio of hardware devices, as well as direct personnel costs for employees and contractors, and other period adjustments related to costs of inventories sold or for sale or use in manufacturing. Shipping and Handling Charges Fees charged to customers for shipping and handling of products are included in product revenues, and costs for shipping and handling of products are included as a component of sales and marketing expense. Shipping and handling costs were approximately $0.6 million and $0.8 million for the years ended December 31, 2024 and December 31, 2023, respectively. Taxes Collected from Customers
Accounts Receivable	Accounts receivable are customer obligations generally due under normal trade terms for the industry. Credit terms are granted and periodically revised based on evaluations of the customer’s financial condition. The Company performs ongoing credit evaluations of its customers. The Company’s payment terms are generally net 30 or 60 days from invoice date.
Allowance for Expected Credit Losses	The Company recognizes an allowance for credit losses at the time a receivable is recorded based on its estimate of expected credit losses and adjusts this estimate over the life of the receivable as needed. The Company evaluates the aggregation and risk characteristics of a receivable pool and develops loss rates that reflect historical collections, current forecasts of future economic conditions over the time horizon the Company is exposed to credit risk, and payment terms or conditions that may materially affect future forecasts. As needed, amounts are written-off when determined to be uncollectible.
Inventories and Provision for Excess and Obsolete Inventory	Inventories and Provision for Excess and Obsolete Inventory Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value. Inbound shipping and handling costs are classified as a component of cost of revenues in the consolidated statements of operations. The Company reviews the components of its inventory and its inventory purchase commitments on a regular basis for excess and obsolete inventory based on estimated future usage and sales. Write-downs in inventory value or losses on inventory purchase commitments depend on various items, including factors related to customer demand, economic and competitive conditions, technological advances or new product introductions by the Company or its customers that vary from its current expectations. Whenever inventory is written down, a new cost basis is established and the inventory is not subsequently written up if market conditions improve.
Intangible Assets	Intangible Assets other than Goodwill Intangible assets include purchased finite-lived and indefinite-lived intangible assets resulting from previous acquisitions, along with the costs of non-exclusive and perpetual worldwide software technology licenses and capitalized software development costs for both internal and external use. Finite-lived intangible assets are amortized on a straight-line basis over the estimated useful lives of the assets, which range fr om two definite-lived intangible assets, including in-process capitalized software development costs, are not amortized; however, they are tested for impairment annually, and between annual tests, if certain events occur indicating that the carrying amounts may be impaired. Software Development Costs for External Use Software development costs for external use are expensed as incurred until technological feasibility has been established, at which time those costs are capitalized as intangible assets until the software is available for general release to customers. Capitalized software development costs are amortized on a straight-line basis over the estimated economic life. The straight-line recognition method approximates the manner in which the expected benefit will be derived. Costs incurred to enhance existing software or after the software is available for general release to customers are expensed in the period they are incurred and included in research and development expense in the consolidated statements of operations. At each balance sheet date, the unamortized capitalized software development cost for external use is compared to its net realizable value by analyzing critical inputs such as expected future lifetime revenue. The amount by which unamortized software costs exceed the net realizable value, if any, is recognized as a charge to impairment expense in the period it is determined. Software Development Costs for Internal Use Costs incurred in the preliminary stages of development are expensed as incurred and included in research and development or general and administrative expense in the consolidated statements of operations. Once an application has reached the development stage, internal and external costs, if direct and incremental, are capitalized. Capitalization ceases upon completion of all substantial testing performed to ensure the product is ready for its intended use. The Company also capitalizes costs related to specific upgrades and enhancements of internal-use software when it is probable that the expenditures will result in additional functionality. Maintenance and training costs are expensed as incurred. Capitalized internal-use software costs are recorded as intangible assets and are amortized on a straight-line basis to depreciation and amortization expense in the consolidated statement of operations over the estimated useful life of the software. The Company tests these assets for impairment whenever events or circumstances occur that could impact their recoverability. Valuation of Indefinite-Lived Intangible Assets
Goodwill	Goodwill Goodwill represents the excess purchase price over estimated fair value of net assets of businesses acquired in a business combination. Goodwill is tested for impairment during the fourth quarter of each year, and more frequently if the Company believes indicators of impairment exist. Valuation of Goodwill Goodwill is tested for impairment at the reporting unit level by first assessing qualitative factors to determine whether events or circumstances lead to a determination that it is more likely than not that the fair value of the Company’s reporting unit is less than its carrying amount. The Company’s qualitative assessment is based on various macroeconomic, industry-specific, and company specific factors. These factors include: (i) industry or economic trends; (ii) current, historical, or projected financial performance, and; (iii) the Company’s market capitalization. After assessing the totality of events and circumstances, if the Company determines that it is not more likely than not that the fair value of the Company’s reporting unit is less than its carrying amount, no further assessment is performed. If the Company determines that it is more likely than not that the fair value of the Company’s reporting unit is less than its carrying amount, the Company calculates the fair value of the reporting unit and compares the fair value to the reporting unit’s carrying amount. An impairment charge is recognized if the fair value of the business (reporting unit) is less than its carrying value.
Long-Lived Assets	Long-Lived Assets The Company periodically evaluates the carrying value of the unamortized balances of its long-lived assets, including property, plant and equipment and rental assets, to determine whether impairment of these assets has occurred or whether a revision to the related amortization periods should be made. If the carrying value of the long-lived asset group exceeds the estimated future undiscounted cash flows, an impairment loss is recorded based on the amount by which the asset group’s carrying amount exceeds its fair value. Fair value is determined based on an evaluation of the assets’ associated discounted future cash flows or appraised value . For the years ended December 31, 2024 and 2023, the Company had no impairment loss related to long-lived assets, except for the impairment of the capitalized software development costs for internal and external use, described further in Note 4 – Goodwill and Other Intangible Assets . Property, Plant and Equipment Property, plant and equipment are initially stated at cost and depreciated using the straight-line method. Land is not depreciated. Leasehold improvements are depreciated over the shorter of the related remaining lease period or useful life, not to exceed 5 years. Product tooling is depreciated over 13 months. Computer equipment, purchased software, vehicles, production equipment, and furniture and fixtures, are depreciated over useful lives ranging from 2 to 7 years. Amortization of equipment under finance leases is included in depreciation expense.
Debt	Debt The Company accounts for debt in accordance with ASC 470, Debt and records specific incremental costs paid to third parties in connection with the issuance of long-term debt are deferred as a direct deduction from the carrying value of the associated debt liability on its consolidated balance sheet. The deferred financing costs are amortized as interest expense over the term of the related debt using the effective interest method. Debt Modifications and Extinguishments When the Company modifies or extinguishes debt, it first evaluates whether the modification qualifies as a troubled debt restructuring (TDR) under ASC Topic 470-60, which requires debt modifications to be evaluated to determine if (1) the borrower is experiencing financial difficulty, and (2) the lender grants the borrower a concession. If a TDR is determined not to have occurred, the Company evaluates the modification in accordance with ASC Topic 470-50-40, which requires modification to debt instruments to be evaluated to assess whether debt modification or debt extinguishment accounting is applicable. This evaluation includes analyzing whether there are significant and consequential changes to the economic substance of the note. If the change is deemed insignificant then the change is considered a debt modification, whereas if the change is substantial the change is reflected as a debt extinguishment. If debt extinguishment guidance applies, the previous debt principal amount is removed, the previously capitalized debt issuance costs are expensed, the value of instruments exchanged are recorded, including cash, new debt, warrants and common stock, and a gain or loss on extinguishment of debt is recorded. If debt modification guidance applies, no gain or loss is recorded and the effective interest rate of the debt is updated based on the carrying value of the debt and the revised future cash flows. Any previously capitalized debt issuance costs in a debt modification are amortized as interest expense over the term of the new debt instrument. Convertible Debt Instruments The Company evaluates embedded features within convertible debt that will be settled in shares upon conversion under ASC 815, Derivatives and Hedging (“ASC 815”) to determine whether the embedded feature(s) should be bifurcated from the host instrument and accounted for as a derivative at fair value with changes in fair value recorded in earnings. If an embedded derivative is bifurcated from share-settled convertible debt, then the Company records the debt component at cost less a debt discount equal to the bifurcated derivative’s fair value. The Company amortizes the debt discount over the life of the debt instrument as additional non-cash interest expense utilizing the effective interest method. The convertible debt and the derivative liability are presented in aggregate on the Consolidated Balance Sheets. The derivative liability is remeasured at each reporting period with changes in fair value recorded in the Consolidated Statements of Operations and Comprehensive Income within other income (expense), net.
Derivative Financial Instruments	Derivative Financial Instruments The Company evaluates stock warrants, debt instruments and other contracts to determine if those contracts or embedded components of those contracts qualify as derivative financial instruments to be separately accounted for under the relevant sections of ASC 815. The result of this accounting treatment could be that the fair value of a financial instrument is classified as a derivative financial instrument and is marked-to-market at each balance sheet date and recorded as an asset or liability. In the event that the fair value is recorded as an asset or liability, the change in fair value is recorded in the consolidated statements of operations as other income or other expense. Upon conversion, exercise or expiration of a derivative financial instrument, the instrument is marked to fair value.
Research and Development	Research and Development Research and development expense consists primarily of personnel costs for our engineers engaged in the design and development of our products, software and technologies, project material costs and services. Such costs are charged to research and development expense as they are incurred, to the extent not capitalized as software development costs for external or internal use.
Lease Accounting	Lease Accounting Lessee Arrangements The Company determines if an arrangement contains a lease at inception. The Company primarily leases office space, automobiles and equipment. Certain of the Company’s leases contain provisions that provide for one or more options to renew at the Company’s sole discretion. Certain real estate leases also include executory costs such as common area maintenance. The Company accounts for lease and non-lease components, including common area maintenance, as a single lease component as a practical expedient election. None of the Company’s operating lease agreements contain any material residual value guarantees or material restrictive covenants. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The lease term includes the base non-cancelable term, and any renewal options that are reasonably certain to be exercised at the commencement date. The Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. ROU assets also include any lease prepayments made and exclude lease incentives. Rental expense related to operating leases is recognized on a straight-line basis over the lease term. The Company has elected the practical expedient to exclude any short-term lease, defined as a lease with an original term of 12 months or less, from the provisions of ASC 842, Leases . Variable lease payments that do not depend on an index or rate are excluded from the measurement of ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. The Company has elected not to present short-term leases on the consolidated balance sheet as these leases have a lease term of 12 months or less at lease inception and do not contain purchase options or renewal terms that the Company is reasonably certain to exercise.
Foreign Currency Transactions and Translation	Foreign Currency Transactions Foreign currency transactions are transactions denominated in a currency other than a subsidiary’s functional currency. A change in the exchange rate between a subsidiary’s functional currency and the currency in which a transaction is denominated increases or decreases the expected amount of functional currency cash flows upon settlement of the transaction. Such increase or decrease is reported by the Company as a foreign currency transaction gain or loss within Other income (expense), net, in the Consolidated Statements of Operations and Comprehensive Income. We recognize foreign currency transaction gains and losses primarily on intercompany transactions between certain subsidiaries in foreign countries. Based upon historical experience, the Company anticipates repayment of these transactions in the foreseeable future and recognizes realized and unrealized gains and losses on these transactions in the period in which they occur. Foreign Currency Translation Assets and liabilities of the Company’s international subsidiaries in which the local currency is the functional currency are translated into U.S. Dollars at period-end exchange rates. Income and expenses are translated into U.S. Dollars at the average exchange rates during the period. The resulting translation adjustments are included in the Company’s consolidated balance sheets as a component of accumulated other comprehensive loss.
Income Taxes	Income Taxes The Company recognizes federal, state and foreign current tax liabilities or assets based on its estimate of taxes payable to or refundable by tax authorities in the current fiscal year. The Company also recognizes federal, state and foreign deferred tax liabilities or assets based on the Company’s estimate of future tax effects attributable to temporary differences and carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by valuation allowances if, based on the consideration of all available evidence, it is more likely than not that some portion of the deferred tax asset will not be realized. The Company evaluates deferred income taxes on a quarterly basis to determine if valuation allowances are required by considering available evidence. If the Company is unable to generate sufficient future taxable income in certain tax jurisdictions, or if there is a material change in the actual effective tax rates or time period within which the underlying temporary differences become taxable or deductible, the Company could be required to increase its valuation allowance against its deferred tax assets which could result in an increase in the Company’s effective tax rate and an adverse impact on operating results. The Company will continue to evaluate the necessity of the valuation allowance based on the remaining deferred tax assets. The Company recognizes the impact of an uncertain income tax position on an income tax return at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Uncertain tax positions are recognized in the first subsequent financial reporting period in which that threshold is met or from changes in circumstances such as the expiration of applicable statutes of limitations. The Company’s policy is to include interest and penalties related to such positions as a component of income tax expense.
Litigation	Litigation The Company is, from time to time, party to various legal proceedings arising in the ordinary course of business. The Company records a loss when information indicates that a loss is both probable and reasonably estimable. Where a liability is probable and there is a range of estimated loss with no best estimate in the range, the Company records the minimum estimated liability related to the claim. As additional information becomes available, the Company revises its estimates, if necessary. The Company expenses litigation costs as incurred.
Share-Based Compensation	Share-Based Compensation The Company has granted stock options and restricted stock units (“RSUs”) to employees, non-employee consultants and non-employee members of our Board of Directors. The Company also has an employee stock purchase plan (“ESPP”) for eligible employees. The Company measures the compensation cost associated with all share-based payments based on grant date fair values. The grant date fair value of time-based RSUs is the closing market price of the Company’s common stock on the grant date, reduced by the present value of expected dividends to be paid on the Company’s common stock prior to vesting, if any. For ESPP rights and stock options with only service conditions, the Company generally uses the Black-Scholes option pricing model to estimate their grant date fair value. For equity awards that include both service and market-based conditions, the Company estimates the awards’ grant date fair value using the Monte Carlo simulation technique. The Company estimates forfeitures at the time of grant and revises these estimates, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company estimates its forfeiture rate assumption for all types of share-based compensation awards based on historical forfeiture rates related to each category of award. The Company recognizes share-based compensation expense over the requisite service period of each individual award, which generally equals the vesting period, using the straight-line method.
Retirement Savings Plan	Retirement Savings Plan
Net Income (Loss) Per Share Attributable to Common Stockholders	Net Income (Loss) Per Share Attributable to Common Stockholders
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). A fair value measurement reflects the assumptions market participants would use in pricing an asset or liability based on the best available information. These assumptions include the risk inherent in a particular valuation technique (such as a pricing model) and the risks inherent in the inputs to the model. The Company classifies inputs to measure fair value using a three-level hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The categorization of financial instruments within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is prioritized into three levels and is defined as follows: Level 1: Pricing inputs are based on quoted market prices for identical assets or liabilities in active markets (e.g., NYSE or NASDAQ). Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Pricing inputs include benchmark yields, trade data, reported trades and broker dealer quotes, two-sided markets and industry and economic events, yield to maturity, Municipal Securities Rule Making Board reported trades and vendor trading platform data. Level 2 includes those financial instruments that are valued using various pricing services and broker pricing information including Electronic Communication Networks and broker feeds. Level 3 : Pricing inputs include significant inputs that are generally less observable from objective sources, including the Company’s own assumptions.
Comprehensive Loss	Comprehensive Loss Comprehensive loss consists of two components: net loss and other comprehensive loss. Other comprehensive loss refers to losses that are recorded as an element of stockholders’ deficit and are excluded from net loss. The Company’s other comprehensive loss is currently composed of foreign currency translation adjustments.
Recently Adopted Accounting Pronouncements and Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In September 2022, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50). The ASU requires disclosure of the key terms of outstanding supplier finance programs and a rollforward of the related obligations. The ASU does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. The ASU is effective for annual and interim periods beginning after December 15, 2022, except for the rollforward requirement, which is effective for annual periods beginning after December 15, 2023. The Company adopted the ASU in the first quarter of 2023 and there was no impact to the consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires that an entity report segment information in accordance with Topic 280, Segment Reporting. The amendment in the ASU is intended to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The Company adopted this ASU in the current year with additional disclosures detailed in the subsequent notes. Recent Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. Early adoption is permitted. A public entity should apply the amendments in ASU 2023-09 prospectively to all annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of this standard on our consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) . This ASU requires disclosure on an annual and interim basis, in the notes to the financial statements, of disaggregated information about specific categories underlying certain income statement expense line items. The guidance is effective for annual periods beginning after December 15, 2026, and interim periods with annual reporting periods beginning after December 15, 2027, on a retrospective basis. The Company is currently evaluating the impact of this standard on our consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20)

Held for Sale and Discontinue_2

Held for Sale and Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations, Condensed Consolidated Statements of Operations, Comprehensive Income and Balance Sheet	The following table summarizes Income from discontinued operations, net of tax included in the Consolidated Statements of Operations and Comprehensive Income for the years ended December 31, 2024 and 2023 (in thousands): Year Ended December 31, 2024 2023 Services and other revenues $ 27,967 $ 28,402 Services and other cost of revenues 12,242 11,724 Gross profit from discontinued operations 15,725 16,678 Operating costs and expenses: Research and development 1,152 1,789 Sales and marketing 4,672 4,872 General and administrative 6,120 4,868 Depreciation and amortization 1,293 1,351 Impairment of capitalized software — 4,124 Total operating costs and expenses 13,237 17,004 Operating income from discontinued operations 2,488 (326) Other (expense) income: Interest income, net 12 14 Other income (expense), net (59) (16) Gain on sale of discontinued operation (a) 18,456 — Income from discontinued operations before income taxes 20,897 (328) Income tax provision 1,956 841 Income from discontinued operations, net of tax $ 18,941 $ (1,169) (a) The gain on sale realized in fiscal 2024 includes the release of Accumulated other comprehensive income of $6.1 million associated with the realization of cumulative translation gains attributed to the Telematics Business The following table summarizes the Company’s Telematics Business’ held for sale assets and liabilities in the Consolidated Balance Sheet (in thousands): December 31, ASSETS Current assets: Cash and cash equivalents $ 5,110 Accounts receivable, net 4,414 Inventories 2,325 Prepaid expenses and other 274 Current assets held for sale 12,123 Non-current assets: Property, plant and equipment, net 369 Rental assets, net 5,083 Intangible assets, net 1,422 Goodwill 17,973 Operating lease right-of-use assets 1,390 Non-current assets held for sale 26,237 Total assets held for sale $ 38,360 LIABILITIES Current liabilities: Accounts payable $ 1,387 Accrued expenses and other current liabilities 5,973 Current liabilities held for sale 7,360 Long-term liabilities: Operating lease liabilities 1,067 Deferred tax liabilities, net 568 Other long-term liabilities 9 Non-current liabilities held for sale 1,644 Total liabilities held for sale $ 9,004

Financial Statement Details (Ta

Financial Statement Details (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Inventories	Inventories consist of the following (in thousands): December 31, 2024 2023 Finished goods $ 13,531 $ 18,939 Raw materials and components 44 1,616 Total inventories $ 13,575 $ 20,555
Summary of Prepaid Expenses and Other	Prepaid expenses and other consists of the following (in thousands): December 31, 2024 2023 Rebate receivables $ 3,495 $ 1,950 Receivables from contract manufacturers 13 1,823 Other 2,418 1,164 Total prepaid expenses and other $ 5,926 $ 4,937
Summary of Property, Plant and Equipment and Rental Assets	Property, plant and equipment consists of the following (in thousands): December 31, 2024 2023 Test equipment $ 19,600 $ 19,600 Computer equipment and purchased software 3,711 3,643 Product tooling 5,182 5,153 Furniture and fixtures 739 739 Leasehold improvements 767 767 Total property, plant and equipment, gross 29,999 29,902 Less—accumulated depreciation and amortization (28,897) (27,513) Total property, plant and equipment, net $ 1,102 $ 2,389
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following (in thousands): December 31, 2024 2023 Deferred revenue $ 9,245 $ 2,717 Payroll and related expenses 7,997 3,608 Accrued contract manufacturing liabilities 4,772 7,537 Operating lease liabilities 1,346 1,226 Royalties 954 845 Accrued interest 926 1,038 Other 4,893 4,078 Total accrued expenses and other current liabilities $ 30,133 $ 21,049
Other Long-term Liabilities	Other long-term liabilities consist of the following (in thousands): December 31, 2024 2023 Long-term deferred revenue $ 4,608 $ 1,704 Other 147 647 Total other long-term liabilities $ 4,755 $ 2,351

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The Company’s intangible assets are comprised of the following (in thousands): December 31, 2024 Gross Carrying Value Accumulated Amortization Net Carrying Value Finite-lived intangible assets: Developed technologies $ 3,182 $ (3,182) $ — Trademarks and trade names 4,700 (4,588) 112 Customer relationships 8,500 (8,297) 203 Capitalized software development costs 31,620 (14,424) 17,196 Other 3,734 (3,067) 667 Total finite-lived intangible assets $ 51,736 $ (33,558) 18,178 Indefinite-lived intangible assets: In-process capitalized software development costs 569 Total intangible assets $ 18,747 December 31, 2023 Gross Carrying Value Accumulated Amortization Net Carrying Value Finite-lived intangible assets: Trademarks and trade names 4,700 (4,118) 582 Customer relationships 8,500 (7,447) 1,053 Capitalized software development costs 40,877 (17,075) 23,802 Other 2,882 (2,804) 78 Total finite-lived intangible assets $ 56,959 $ (31,444) 25,515 Indefinite-lived intangible assets: In-process capitalized software development costs 203 Total intangible assets $ 25,718
Summary of Amortization Expense of Finite-Lived Intangible Assets Expected to be Recognized	The following table represents details of the amortization of finite-lived intangible assets that is estimated to be expensed in the future (in thousands): 2025 $ 6,290 2026 3,752 2027 3,247 2028 2,598 2029 1,388 Thereafter 903 Total $ 18,178

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Summary of Fair Value Valuation Model and Assumptions	The fair value of the interest make-whole payment derivative liability was determined using a Monte Carlo model with the following key assumptions: December 31, 2024 December 31, 2023 Volatility 93 % 77 % Stock price $10.26 per share $2.20 per share Credit spread 14.00 % 92.20 % Term 0.34 years 1.34 years Dividend yield — % — % Risk-free rate 4.33 % 4.60 % The common stock warrants were initially valued using a Black-Scholes option-pricing model, which represents a Level 3 measurement. The following table provides weighted-average quantitative information, based on the relative number of warrants issued, regarding inputs used in the Black-Scholes option-pricing model to determine the fair value of the warrants at their respective issuance dates: Year Ended December 31, 2024 Exercise price $12.59 Expected dividend yield: — % Risk-free interest rate: 4.2 % Volatility: 95.1 % Expected term (in years): 4.0

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Summary of Net Carrying Amount of Debt	The 2029 Senior Secured Notes, net consists of the following (in thousands): December 31, 2024 Principal gross amount $ 40,879 Add: unamortized debt premium 1,621 Less: unamortized issuance costs (670) Net carrying amount $ 41,830 The 2025 Convertible Notes consist of the following (in thousands): December 31, 2024 2023 Principal $ 14,949 $ 161,898 Add: fair value of embedded derivative — — Less: unamortized debt discount (25) (1,106) Less: unamortized issuance costs (19) (880) Net carrying amount $ 14,905 $ 159,912
Summary of Interest Expense	The following table sets forth total interest expense, annualized effective interest rate, and interest expense related to related parties, if applicable, for each of the debt instruments detailed above (in thousands, except for percentages): Year Ended December 31, 2024 2023 2029 Senior Secured Notes Contractual interest expense $ 562 Amortization of debt issuance costs 24 Amortization of debt discount/premium (57) Total interest expense $ 529 Related party interest expense $ 411 2025 Convertible Notes Contractual interest expense $ 3,912 $ 5,262 Amortization of debt issuance costs 489 659 Amortization of debt discount/premium 614 828 Total interest expense $ 5,015 $ 6,749 Related party interest expense $ 2,847 $ 3,350 Short-Term Loan Contractual interest expense $ 1,391 Amortization of debt discount/premium 3,330 Total interest expense $ 4,721 Related party interest expense $ 4,721 Credit Facility Contractual interest expense $ 312 $ 1,092 Accretion of exit fee 75 200 Amortization of debt issuance costs 117 466 Total interest expense $ 504 $ 1,758 Other interest expense 137 579 Consolidated interest expense $ 10,906 $ 9,086

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Summary of Loss before Income Taxes	The Company’s loss before income taxes for the years ended December 31, 2024 and 2023 is comprised of the following (in thousands): Year Ended December 31, 2024 2023 Domestic $ (13,883) $ (45,262) Foreign 203 289 Loss before income taxes $ (13,680) $ (44,973)
Summary of Provision for Income Taxes	The (benefit) provision for income taxes for the years ended December 31, 2024 and 2023 is comprised of the following (in thousands): Year Ended December 31, 2024 2023 Current: Federal $ — $ — State 598 20 Foreign 29 14 Total current 627 34 Deferred: Federal (43) 9 State 105 — Foreign — — Total deferred 62 9 (Benefit) Provision for income taxes $ 689 $ 43
Summary of Net Deferred Tax Assets	The Company’s net deferred tax liabilities consist of the following (in thousands): December 31, 2024 2023 Deferred tax assets: Accrued expenses $ 4,620 $ 1,185 Provision for excess and obsolete inventory 4,162 4,679 Capitalized research and experimental expenditures 11,216 8,629 Convertible debt 608 3,526 Depreciation and amortization 2,063 1,725 Interest expense limitation 19,944 18,689 Net operating loss and tax credit carryforwards 97,347 108,690 Share-based compensation 1,533 3,065 Operating lease liability 985 819 Other 351 — Deferred tax assets 142,829 151,007 Valuation allowances (141,628) (149,529) Deferred tax assets, net of valuation allowances 1,201 1,478 Deferred tax liabilities: Right of use asset (710) (1,085) Acquired intangible assets (665) (505) Deferred tax liabilities (1,375) (1,590) Deferred tax liabilities, net $ (174) $ (112)
Summary of Provision for Income Taxes Reconciles to Amount Computed by Applying Statutory Federal Income Tax Rate	The (benefit) provision for income taxes reconciles to the amount computed by applying the statutory federal income tax rate of 21% in 2024 and 2023 to loss before income taxes as follows (in thousands): Year Ended December 31, 2024 2023 Federal tax benefit, at statutory rate $ (2,535) $ (9,895) State provision, net of federal benefit 1,374 711 Foreign tax rate difference (17) (36) Foreign income inclusions 6,177 — Valuation allowance against future tax benefits (8,515) 9,296 Research and development credits (1,204) (760) Share-based compensation 1,989 1,622 Disallowance of loss on debt exchanges 3,344 — Non-deductible officers compensation 19 — True-up of prior year provisions 26 (942) Other 31 47 Provision for income taxes $ 689 $ 43
Summary of Reconciliation in Beginning and Ending Amounts of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands): Balance at December 31, 2022 $ 42,915 Increases related to current and prior year tax positions 506 Decreases from lapses of statute of limitations and prior year tax positions (30,782) Balance at December 31, 2023 12,639 Increases related to current and prior year tax positions 719 Balance at December 31, 2024 $ 13,358

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Summary of Change to Fair Value of Warrant	The number and exercise price of the warrants issued during the year ended December 31, 2024 are as follows: Issuance Date Number of Shares to Purchase with Warrants Exercise price June 28, 2024 550,000 $ 12.12 July 18, 2024 236,074 $ 13.37 August 2, 2024 88,534 $ 11.03 October 24, 2024 20,646 $ 12.34 November 6, 2024 180,000 $ 11.27 November 6, 2024 1,543,363 $ 12.12 November 6, 2024 29,687 $ 12.34 November 6, 2024 370,000 $ 15.77 Total 3,018,304

Share-based Compensation (Table

Share-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Share-Based Compensation Expense	For the years ended December 31, 2024 and 2023, the following table presents total share-based compensation expense in each functional line item on the consolidated statements of operations (in thousands): Year Ended December 31, 2024 2023 Cost of revenues $ 126 $ 662 Research and development 691 1,526 Sales and marketing 430 1,138 General and administrative 2,577 3,645 Income from discontinued operations, net of tax 115 473 Total $ 3,939 $ 7,444
Summary of Share-based Compensation Stock Option Fair Value Assumptions	The following table presents the weighted-average assumptions used in the Black-Scholes valuation model by the Company in calculating the fair value of each stock option granted: Year Ended December 31, 2024 2023 Expected dividend yield — % — % Risk-free interest rate 4.2 % 4.3 % Volatility 95.1 % 173.6 % Expected term (in years) 4.0 4.4
Summary of Stock Option Activity	The following table summarizes the Company’s stock option activity for the years ended December 31, 2024 and 2023 (dollars in thousands, except per share data): Stock Weighted-Average Weighted-Average Aggregate Outstanding — December 31, 2022 813,296 $ 46.50 Granted 82,825 4.13 Exercised — — Canceled (350,249) 38.39 Outstanding — December 31, 2023 545,872 $ 44.16 Granted 44,250 8.40 Exercised (1,475) 15.53 Canceled (318,796) 54.28 Outstanding — December 31, 2024 269,851 $ 26.49 6.05 $ 619 Vested and Expected to Vest — December 31, 2024 248,326 $ 28.17 5.80 $ 526 Exercisable — December 31, 2024 164,405 $ 38.22 4.20 $ 149
Summary of Restricted Stock Unit Activity	A summary of restricted stock unit activity under all plans for the years ended December 31, 2024 and 2023 is presented below: Number of Shares Weighted-Average Grant-Date Fair Value Non-vested — December 31, 2022 117,837 73.30 Granted 366,713 5.78 Vested (246,706) 12.92 Forfeited (34,836) 39.77 Non-vested — December 31, 2023 203,008 19.84 Granted 1,106,862 9.34 Vested (164,288) 13.42 Forfeited (33,741) 31.68 Non-vested — December 31, 2024 1,111,841 10.00

Income (Loss) per Share (Tables

Income (Loss) per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Summary of Calculation of Basic and Diluted Earnings per Share	The calculation of basic and diluted earnings per share was as follows (in thousands, except share and per share data): Income/(Loss) Shares* Per-Share Amount Year Ended December 31, 2024 Basic and Diluted EPS Loss from continuing operations $ (14,369) Less: preferred stock dividends (3,269) Loss from continuing operations attributable to common stockholders (17,638) 12,535,756 $ (1.41) Income from discontinued operations, net of tax 18,941 12,535,756 $ 1.51 Income attributable to common stockholders $ 1,303 12,535,756 $ 0.10 Year Ended December 31, 2023 Basic and Diluted EPS Loss from continuing operations $ (45,016) Less: preferred stock dividends (2,991) Loss from continuing operations attributable to common stockholders (48,007) 11,372,069 $ (4.22) Loss from discontinued operations, net of tax (1,169) 11,372,069 $ (0.10) Loss attributable to common stockholders $ (49,176) 11,372,069 $ (4.32) (*) Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1
Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following is a summary of outstanding potential shares of common stock that have been excluded from the computation of diluted net loss per share attributable to common stockholders because their inclusion would have been anti-dilutive (in thousands): Year Ended December 31, 2024 2023 2025 Convertible Notes 119 1,291 Common stock warrants 3,018 — Non-qualified stock options 270 546 Restricted stock units 1,112 203 Employee Stock Purchase Plan 29 25 Total 4,548 2,065

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Summary of Supplemental Lease Information	The components of the right-of-use assets and lease liabilities were as follows (in thousands): Balance Sheet Classification December 31, December 31, Operating right-of-use assets, net Operating lease right-of-use assets $ 2,855 $ 4,022 Current operating lease liabilities Accrued expenses and other current liabilities $ 1,346 $ 1,226 Non-current operating lease liabilities Operating lease liabilities 2,627 3,972 Total operating lease liabilities $ 3,973 $ 5,198 Weighted-average remaining lease term (in years) 2.7 3.6 Weighted-average discount rate 9.0 % 9.0 % The components of lease cost were as follows (in thousands): Year Ended December 31, 2024 2023 Operating lease costs included in operating costs and expenses $ 1,578 $ 1,521 Supplemental cash flow information related to leases was as follows (in thousands): Year Ended December 31, 2024 2023 Operating cash flows related to operating leases $ 1,636 $ 1,659 Operating right-of-use assets obtained in exchange for lease liabilities $ — $ —
Summary of Future Minimum Payments Under Operating Leases	The future minimum payments under operating leases were as follows at December 31, 2024 (in thousands): 2025 $ 1,637 2026 1,687 2027 1,131 Total minimum operating lease payments 4,455 Less: amounts representing interest (482) Present value of net minimum operating lease payments 3,973 Less: current portion (1,346) Long-term portion of operating lease obligations $ 2,627

Segment, Geographic, and Conc_2

Segment, Geographic, and Concentrations of Risk Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segments, Revenues, Significant Expenses and Other Segment Items	The following table details the revenues, significant expenses and other segment items regularly provided to the CODM: Year Ended December 31, 2024 2023 Revenues $ 191,244 $ 167,286 Less: Adjusted cost of revenues (1) 122,321 130,847 Adjusted research and development (2) 19,905 18,199 Adjusted sales and marketing (2) 15,522 15,495 Adjusted general and administrative (3) 13,203 11,738 Adjusted depreciation and amortization (4) 11,048 17,088 Capitalizable software development expenditures 4,248 7,350 Capitalized software development expenditures (4,248) (7,350) Share-based compensation 3,823 6,972 Amortization of purchased intangible assets related to business combinations 1,320 1,320 Impairment of capitalized software 927 1,115 Right-of-use asset impairment 138 469 Debt restructuring costs 1,322 — Loss on debt restructurings, net 2,851 — Loss on extinguishment of revolving credit facility 788 — Interest expense, net 10,906 9,086 Other income (expense), net 850 (70) Income tax provision 689 43 Segment net income (loss) $ (14,369) $ (45,016) Reconciliation of profit or loss Income (Loss) from discontinued operations, net of tax 18,941 (1,169) Consolidated net income (loss) $ 4,572 $ (46,185) (1) Excludes any share-based compensation expense. (2) Excludes any depreciation and amortization or share-based compensation expense. (3) Excludes any depreciation and amortization, share-based compensation expense, right-of-use asset impairments, or debt restructuring costs. (4) Excludes amortization of purchased intangible assets.
Summary of Geographic Concentration of Net Revenues	The following table details the Company’s revenues by geographic region based on shipping destination (in thousands): Year Ended December 31, 2024 2023 United States and Canada $ 184,324 $ 163,490 Europe (including United Kingdom) 5,298 2,586 Other 1,622 1,210 Total $ 191,244 $ 167,286

Nature of Business and Signif_3

Nature of Business and Significant Accounting Policies - Narrative (Details)		3 Months Ended	12 Months Ended
	Jan. 24, 2024 shares	Dec. 31, 2024 USD ($) reportingUnit	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Sep. 16, 2024 USD ($)
Nature Of Business And Significant Accounting Policies [Line Items]
Stock split, conversion ratio	0.1
Fractional shares issued (in shares) | shares	0
Number of reportable segments | segment			1
Cash equivalents		$ 0	$ 0	$ 0
Restricted cash		0	$ 0	0
General warranty period			12 months
Contract liabilities		9,245,000	$ 9,245,000	2,717,000
Revenue deferred due to unsatisfied performance obligations			21,000,000	2,800,000
Revenue recognized for satisfaction of performance obligations			11,500,000	1,300,000
Contract with customer, liability included in beginning balance, revenue recognized			2,700,000	1,600,000
Accounts receivable, net		13,803,000	13,803,000	18,202,000
Allowance on accounts receivable		$ 123,000	123,000	617,000
Impairment of indefinite-lived intangible assets			0	0
Number of reporting units | reportingUnit		1
Goodwill, impairment loss			0	0
Right-of-use asset impairment			$ 0	0
Short term lease term		12 months	12 months
Percentage of employees contribution matched by employer			50%
Percentage of employees gross pay eligible for employer match			6%
Employer matching contributions			$ 600,000	700,000
Discontinued Operations, Held-for-Sale | Inseego International Holdings Limited
Nature Of Business And Significant Accounting Policies [Line Items]
Initial cash proceeds					$ 52,000,000
Increase in consideration due to closing working capital and debt					$ 700,000
Accounts Payable and Accrued Liabilities
Nature Of Business And Significant Accounting Policies [Line Items]
Contract liabilities		$ 9,200,000	9,200,000	2,700,000
Other Noncurrent Liabilities
Nature Of Business And Significant Accounting Policies [Line Items]
Contract liabilities		$ 4,600,000	4,600,000	1,700,000
Sales and marketing
Nature Of Business And Significant Accounting Policies [Line Items]
Shipping and handling charges			$ 600,000	$ 800,000
Minimum
Nature Of Business And Significant Accounting Policies [Line Items]
General warranty period			12 months
Subscription term			1 year
Useful life		2 years	2 years
Maximum
Nature Of Business And Significant Accounting Policies [Line Items]
General warranty period			36 months
Subscription term			3 years
Useful life		10 years	10 years
Leasehold improvements | Maximum
Nature Of Business And Significant Accounting Policies [Line Items]
Property, plant and equipment useful lives		5 years	5 years
Product tooling
Nature Of Business And Significant Accounting Policies [Line Items]
Property, plant and equipment useful lives		13 months	13 months
Computer equipment, purchased software, vehicles, production equipment, and furniture and fixtures | Minimum
Nature Of Business And Significant Accounting Policies [Line Items]
Property, plant and equipment useful lives		2 years	2 years
Computer equipment, purchased software, vehicles, production equipment, and furniture and fixtures | Maximum
Nature Of Business And Significant Accounting Policies [Line Items]
Property, plant and equipment useful lives		7 years	7 years

Held for Sale and Discontinue_3

Held for Sale and Discontinued Operations - Narrative (Details) $ in Millions	Nov. 27, 2024 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Expected transition support for period	10 months
Discontinued Operations, Held-for-Sale | Telematics Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Initial cash proceeds	$ 52.7
Pre-tax gain on the sale	$ 18.5

Held for Sale and Discontinue_4

Held for Sale and Discontinued Operations - Condensed Consolidated Statements of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of tax	$ 18,941	$ (1,169)
Discontinued Operations, Held-for-Sale | Telematics Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross profit from discontinued operations	15,725	16,678
Research and development	1,152	1,789
Sales and marketing	4,672	4,872
General and administrative	6,120	4,868
Depreciation and amortization	1,293	1,351
Impairment of capitalized software	0	4,124
Total operating costs and expenses	13,237	17,004
Operating income from discontinued operations	2,488	(326)
Interest income, net	12	14
Other income (expense), net	(59)	(16)
Gain on sale of discontinued operation	18,456	0
Income from discontinued operations before income taxes	20,897	(328)
Income tax provision	1,956	841
Income from discontinued operations, net of tax	18,941	(1,169)
Gain on sale realized includes the release of accumulated other comprehensive income	6,100
Discontinued Operations, Held-for-Sale | Telematics Business | Product revenues
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross profit from discontinued operations	27,967	28,402
Discontinued Operations, Held-for-Sale | Telematics Business | Services and other
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross profit from discontinued operations	$ 12,242	$ 11,724

Held for Sale and Discontinue_5

Held for Sale and Discontinued Operations - Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Current assets held for sale	$ 0	$ 12,123
Non-current assets:
Non-current assets held for sale	0	26,237
Current liabilities:
Current liabilities held for sale	0	7,360
Long-term liabilities:
Non-current liabilities held for sale	0	$ 1,644
Discontinued Operations, Held-for-Sale | Telematics Business
Current assets:
Cash and cash equivalents	5,110
Accounts receivable, net	4,414
Inventories	2,325
Prepaid expenses and other	274
Current assets held for sale	12,123
Non-current assets:
Property, plant and equipment, net	369
Rental assets, net	5,083
Intangible assets, net	1,422
Goodwill	17,973
Operating lease right-of-use assets	1,390
Non-current assets held for sale	26,237
Total assets held for sale	38,360
Current liabilities:
Accounts payable	1,387
Accrued expenses and other current liabilities	5,973
Current liabilities held for sale	7,360
Long-term liabilities:
Operating lease liabilities	1,067
Deferred tax liabilities, net	568
Other long-term liabilities	9
Non-current liabilities held for sale	1,644
Total liabilities	$ 9,004

Financial Statement Details - I

Financial Statement Details - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Finished goods	$ 13,531	$ 18,939
Raw materials and components	44	1,616
Total inventories	$ 13,575	$ 20,555

Financial Statement Details - P

Financial Statement Details - Prepaid Expenses and Other (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Rebate receivables	$ 3,495	$ 1,950
Receivables from contract manufacturers	13	1,823
Other	2,418	1,164
Total prepaid expenses and other	$ 5,926	$ 4,937

Financial Statement Details -_2

Financial Statement Details - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 29,999	$ 29,902
Less—accumulated depreciation and amortization	(28,897)	(27,513)
Total property, plant and equipment, net	1,102	2,389
Test equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	19,600	19,600
Computer equipment and purchased software
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	3,711	3,643
Product tooling
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	5,182	5,153
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	739	739
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 767	$ 767

Financial Statement Details - N

Financial Statement Details - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation and amortization expense	$ 1.4	$ 2.9

Financial Statement Details - A

Financial Statement Details - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred revenue	$ 9,245	$ 2,717
Payroll and related expenses	7,997	3,608
Accrued contract manufacturing liabilities	4,772	7,537
Operating lease liabilities	$ 1,346	$ 1,226
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued expenses and other current liabilities	Total accrued expenses and other current liabilities
Royalties	$ 954	$ 845
Accrued interest	926	1,038
Other	4,893	4,078
Total accrued expenses and other current liabilities	$ 30,133	$ 21,049

Financial Statement Details - O

Financial Statement Details - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Long-term deferred revenue	$ 4,608	$ 1,704
Other	147	647
Total other long-term liabilities	$ 4,755	$ 2,351

Financial Statement Details -_3

Financial Statement Details - Performance Obligation (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Long-term deferred revenue	$ 4,608	$ 1,704
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, amount	$ 4,400
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, amount	$ 300
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 years

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 3,949	$ 3,949
Amortization of purchased intangible assets related to business combinations	11,100	15,800
Impairment of capitalized software	927	1,115
Capitalized software development costs
Finite-Lived Intangible Assets [Line Items]
Amortization of purchased intangible assets related to business combinations	9,600	13,900
Impairment of capitalized software	$ 900	$ 1,100

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 51,736	$ 56,959
Accumulated Amortization	(33,558)	(31,444)
Net Carrying Value	18,178	25,515
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total intangible assets	18,747	25,718
In-process capitalized software development costs
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	569	203
Developed technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	3,182
Accumulated Amortization	(3,182)
Net Carrying Value	0
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	4,700	4,700
Accumulated Amortization	(4,588)	(4,118)
Net Carrying Value	112	582
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	8,500	8,500
Accumulated Amortization	(8,297)	(7,447)
Net Carrying Value	203	1,053
Capitalized software development costs
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	31,620	40,877
Accumulated Amortization	(14,424)	(17,075)
Net Carrying Value	17,196	23,802
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	3,734	2,882
Accumulated Amortization	(3,067)	(2,804)
Net Carrying Value	$ 667	$ 78

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Expected Amortization Expense of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Estimated future amortization expense
2025	$ 6,290
2026	3,752
2027	3,247
2028	2,598
2029	1,388
Thereafter	903
Net Carrying Value	$ 18,178	$ 25,515

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares	Dec. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities at fair value	$ 0	$ 0
2029 Senior Secured Notes issued in exchange for 2025 Convertible Notes	42,557,000	0
Gain on change in fair value of embedded derivative	0	0
2025 Convertible Notes | Convertible debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
2029 Senior Secured Notes issued in exchange for 2025 Convertible Notes	$ 0	$ 0
Stated interest rate of debt issued	3.25%	3.25%
Warrants term	4 years
Warrants net value	$ 30,800,000
2025 Convertible Notes | Convertible debt | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exercise price per share (in dollars per share) | $ / shares	$ 11.03
2025 Convertible Notes | Convertible debt | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exercise price per share (in dollars per share) | $ / shares	$ 15.77
2029 Senior Secured Notes | Level 3 | Debt | Measurement Input Market Yield | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt measurement input	0.0835
Short Term Loan | Level 3 | Debt | Measurement Input Market Yield | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt measurement input	0.2757

Fair Value Measurement - Binomi

Fair Value Measurement - Binomial Lattice Model and Assumptions (Details) - Level 3	12 Months Ended
	Dec. 31, 2024 $ / shares	Dec. 31, 2023 $ / shares
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0.951
Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants term	4 years
Dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0.042
Exercise price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	12.59
Interest make-whole payment | Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability measurement input	0.93	0.77
Interest make-whole payment | Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Stock price (in dollars per share)	$ 10.26	$ 2.20
Interest make-whole payment | Credit spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability measurement input	0.1400	0.9220
Interest make-whole payment | Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Term	4 months 2 days	1 year 4 months 2 days
Interest make-whole payment | Dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability measurement input	0	0
Interest make-whole payment | Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability measurement input	0.0433	0.0460

Debt - Narrative (Details)

Debt - Narrative (Details)					12 Months Ended
		Nov. 06, 2024 USD ($)	Apr. 18, 2024 USD ($)	May 02, 2023 USD ($)	Dec. 31, 2024 USD ($) tradingDay $ / shares shares		Dec. 31, 2023 USD ($) $ / shares shares		Jun. 28, 2024 USD ($) subsidiary $ / shares shares	Aug. 05, 2022 USD ($)
Debt Instrument [Line Items]
Number of additional shares from warrants (in shares) | shares					3,018,304
Common stock, par value (in dollars per share) | $ / shares					$ 0.001	[1]	$ 0.001	[1]	$ 0.001
Loss on extinguishment of revolving credit facility					$ 788,000		$ 0
Net repayments on asset-backed revolving credit facility					$ 4,882,000		$ 3,757,000
Common Stock
Debt Instrument [Line Items]
Number of shares sold (in shares) | shares	[2]						804,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt aggregate face amount				$ 4,000,000
Maximum borrowing capacity										$ 50,000,000
Minimum draw				8,500,000						$ 4,500,000
Line of credit increase				$ 4,000,000
Net repayments on asset-backed revolving credit facility			$ 3,000,000
Effective interest rate					36.10%		54.50%
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee rate				7.50%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee rate				12.50%
Common stock warrants
Debt Instrument [Line Items]
Number of additional shares from warrants (in shares) | shares									550,000
South Ocean Funding, LLC and North Sound Ventures, LP | Revolving Credit Facility
Debt Instrument [Line Items]
Debt aggregate face amount			$ 400,000
Related Party | Participation Interests
Debt Instrument [Line Items]
Debt instrument collateral amount									$ 3,000,000
Related Party | Philip Brace | Participation Interests
Debt Instrument [Line Items]
Debt instrument collateral amount									1,000,000
Related Party | North Sound Ventures LP | Participation Interests
Debt Instrument [Line Items]
Debt instrument collateral amount									2,000,000
Short-Term Loan Agreement
Debt Instrument [Line Items]
Debt instrument, fee amount									$ 200,000
Short-Term Loan Agreement | Line of Credit
Debt Instrument [Line Items]
Stated interest rate of debt issued									12%
Number of subsidiaries | subsidiary									2
Maximum borrowing capacity									$ 19,500,000
Exit fee percentage									4%
Minority interest percentage									5%
Amortization of debt discount/premium					$ 3,330,000
Effective interest rate					92.70%
Secured Debt | 2029 Senior Secured Notes
Debt Instrument [Line Items]
Debt aggregate face amount		$ 40,900,000
Stated interest rate of debt issued		9%
Redemption price percentage		100%
Debt issuance costs		$ 1,700,000
Allocated to debt issuance costs		700,000
Initial debt premium over principal amount		1,700,000
Outstanding principal					$ 40,879,000
Amortization of debt discount/premium					(57,000)
Debt repurchased face amount					$ 40,900,000
Effective interest rate					8.50%
Secured Debt | 2029 Senior Secured Notes | Common stock warrants | Common Stock
Debt Instrument [Line Items]
Debt issuance costs					$ 600,000
Secured Debt | 2029 Senior Secured Notes | Common stock warrants | Additional Paid-in Capital
Debt Instrument [Line Items]
Debt issuance costs		$ 400,000
Secured Debt | 2029 Senior Secured Notes | Related Party
Debt Instrument [Line Items]
Outstanding principal					$ 31,800,000
Convertible debt | 2025 Convertible Notes
Debt Instrument [Line Items]
Stated interest rate of debt issued					3.25%		3.25%
Outstanding principal					$ 14,949,000		$ 161,898,000
Number of additional shares from warrants (in shares) | shares					2,500,000
Amortization of debt discount/premium					$ 614,000		$ 828,000
Conversion ratio					0.00792896
Conversion price (in dollars per share) | $ / shares					$ 126.12
Threshold percentage of stock price trigger					130%
Threshold of trading days | tradingDay					20
Threshold of consecutive trading days | tradingDay					30
Aggregate percentage of holders to declare notes due and payable in default event					25%
Percentage of principal and accrued interest that may be called in default event					100%
Percentage of principal and accrued interest that may be called in event of bankruptcy, insolvency or reorganization					100%
Trading day threshold					5 days
Stock price trigger (in dollars per share) | $ / shares					$ 105.10
Make-whole payment term					3 years
Interest make-whole payment discount rate					1%
Debt repurchased face amount					$ 146,900,000
Repurchased in cash					$ 33,800,000
Number of shares sold (in shares) | shares					2,900,000
Loss on extinguishment of revolving credit facility					$ 2,900,000
Effective interest rate					4.20%		4.20%
Convertible debt | 2025 Convertible Notes | Related Party
Debt Instrument [Line Items]
Outstanding principal					$ 0		$ 80,400,000
[1]Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1[2]Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1

Debt - Components (Details)

Debt - Components (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
2029 Senior Secured Notes | Secured Debt
Debt Instrument [Line Items]
Principal	$ 40,879
Add: unamortized debt premium	1,621
Less: unamortized issuance costs	(670)
Net carrying amount	41,830
2025 Convertible Notes | Convertible debt
Debt Instrument [Line Items]
Principal	14,949	$ 161,898
Add: fair value of embedded derivative	0	0
Less: unamortized debt discount	(25)	(1,106)
Less: unamortized issuance costs	(19)	(880)
Net carrying amount	$ 14,905	$ 159,912

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Other interest expense	$ 137	$ 579
Consolidated interest expense	10,906	9,086
Line of Credit | Short-Term Loan Agreement
Debt Instrument [Line Items]
Contractual interest expense	1,391
Amortization of debt discount/premium	3,330
Total interest expense	4,721
Revolving Credit Facility
Debt Instrument [Line Items]
Contractual interest expense	312	1,092
Accretion of exit fee	75	200
Amortization of debt issuance costs	117	466
Total interest expense	504	1,758
Related Party | Line of Credit | Short-Term Loan Agreement
Debt Instrument [Line Items]
Total interest expense	4,721
2029 Senior Secured Notes | Secured Debt
Debt Instrument [Line Items]
Contractual interest expense	562
Amortization of debt issuance costs	24
Amortization of debt discount/premium	(57)
Total interest expense	529
2029 Senior Secured Notes | Related Party | Secured Debt
Debt Instrument [Line Items]
Total interest expense	411
2025 Convertible Notes | Convertible debt
Debt Instrument [Line Items]
Contractual interest expense	3,912	5,262
Amortization of debt issuance costs	489	659
Amortization of debt discount/premium	614	828
Total interest expense	5,015	6,749
2025 Convertible Notes | Related Party | Convertible debt
Debt Instrument [Line Items]
Total interest expense	$ 2,847	$ 3,350

Income Taxes - Loss before Inco

Income Taxes - Loss before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Domestic	$ (13,883)	$ (45,262)
Foreign	203	289
Loss before income taxes	$ (13,680)	$ (44,973)

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Current:
Federal	$ 0	$ 0
State	598	20
Foreign	29	14
Total current	627	34
Deferred:
Federal	(43)	9
State	105	0
Foreign	0	0
Total deferred	62	9
(Benefit) Provision for income taxes	$ 689	$ 43

Income Taxes - Net Deferred Tax

Income Taxes - Net Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Accrued expenses	$ 4,620	$ 1,185
Provision for excess and obsolete inventory	4,162	4,679
Capitalized research and experimental expenditures	11,216	8,629
Convertible debt	608	3,526
Depreciation and amortization	2,063	1,725
Interest expense limitation	19,944	18,689
Net operating loss and tax credit carryforwards	97,347	108,690
Share-based compensation	1,533	3,065
Operating lease liability	985	819
Other	351	0
Deferred tax assets	142,829	151,007
Valuation allowances	(141,628)	(149,529)
Deferred tax assets, net of valuation allowances	1,201	1,478
Deferred tax liabilities:
Right of use asset	(710)	(1,085)
Acquired intangible assets	(665)	(505)
Deferred tax liabilities	(1,375)	(1,590)
Deferred tax liabilities, net	$ (174)	$ (112)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 141,628,000	$ 149,529,000
Valuation allowance (decrease) increase	(7,900,000)	9,300,000
Income tax estimated dividend withholding tax	900,000
Income tax benefit recognized related to uncertain tax positions	0	0
Interest expense related to uncertain tax positions	0	0
Liability related to unrecognized tax benefits	0	$ 0
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	355,400,000
Operating loss carryforwards, not subject to expiration	107,200,000
Research and development tax credit carryforwards	11,400,000
California Franchise Tax Board
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	64,400,000
Research and development tax credit carryforwards	11,400,000
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 0

Income Taxes - Provision for _2

Income Taxes - Provision for Income Taxes Reconciliation to Statutory Federal Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Federal tax benefit, at statutory rate	$ (2,535)	$ (9,895)
State provision, net of federal benefit	1,374	711
Foreign tax rate difference	(17)	(36)
Foreign income inclusions	6,177	0
Valuation allowance against future tax benefits	(8,515)	9,296
Research and development credits	(1,204)	(760)
Share-based compensation	1,989	1,622
Disallowance of loss on debt exchanges	3,344	0
Non-deductible officers compensation	19	0
True-up of prior year provisions	26	(942)
Other	31	47
(Benefit) Provision for income taxes	$ 689	$ 43

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Unrecognized Tax Benefits
Beginning Balance	$ 12,639	$ 42,915
Increases related to current and prior year tax positions	719	506
Decreases from lapses of statute of limitations and prior year tax positions		(30,782)
Ending Balance	$ 13,358	$ 12,639

Stockholders' Equity (Deficit_2

Stockholders' Equity (Deficit) - Narrative (Details) - USD ($)		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023		Nov. 06, 2024	Jun. 28, 2024	Dec. 31, 2022	Jan. 31, 2021
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)		2,000,000		2,000,000
Preferred stock, par value (in dollars per share)		$ 0.001		$ 0.001
Common stock, shares authorized (in shares)	[1]	150,000,000		150,000,000
Common stock, par value (in dollars per share)		$ 0.001	[1]	$ 0.001	[1]		$ 0.001
Common stock, shares issued (in shares)	[1]	14,990,712		11,878,557
Common stock, shares outstanding (in shares)	[1]	14,990,712		11,878,557
Issuance of common shares in connection with a public offering, net of issuance costs				$ 6,057,000
Number of additional shares from warrants (in shares)		3,018,304
Common Stock
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)	[2]	14,991,000		11,879,000				10,847,000
Number of shares sold (in shares)	[2]			804,000
Issuance of common shares in connection with a public offering, net of issuance costs				$ 8,000
Additional Paid-in Capital
Class of Stock [Line Items]
Issuance of common shares in connection with a public offering, net of issuance costs				$ 6,049,000
Warrants net value		$ 3,200,000
Common stock warrants
Class of Stock [Line Items]
Number of additional shares from warrants (in shares)							550,000
Canaccord Genuity LLC | ATM Offering
Class of Stock [Line Items]
Equity distribution agreement, maximum aggregate amount authorized for offer or sale									$ 40,000,000
Number of shares issued (in shares)				803,596
Purchase price (in dollars per share)				$ 7.54
Proceeds from sale of stock				$ 5,900,000
2025 Convertible Notes | Convertible debt
Class of Stock [Line Items]
Number of shares sold (in shares)		2,900,000
Number of additional shares from warrants (in shares)		2,500,000
Warrants term		4 years
Warrants exercised (in shares)		0
Outstanding warrants (in shares)				0
Warrants net value		$ 30,800,000
2025 Convertible Notes | Convertible debt | Additional Paid-in Capital
Class of Stock [Line Items]
Issuance of common shares in connection with a public offering, net of issuance costs		44,900,000
2029 Senior Secured Notes | Secured Debt
Class of Stock [Line Items]
Debt issuance costs						$ 1,700,000
2029 Senior Secured Notes | Secured Debt | Additional Paid-in Capital
Class of Stock [Line Items]
Warrants, fair value		27,600,000
2029 Senior Secured Notes | Common stock warrants | Secured Debt | Common Stock
Class of Stock [Line Items]
Debt issuance costs		$ 600,000
2029 Senior Secured Notes | Common stock warrants | Secured Debt | Additional Paid-in Capital
Class of Stock [Line Items]
Debt issuance costs						$ 400,000
2025 Convertible Notes, Long and Short Term Portions | Convertible debt
Class of Stock [Line Items]
Number of additional shares from warrants (in shares)		3,000,000
Series D Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)		150,000
Series E Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)		39,500		39,500
Preferred stock, par value (in dollars per share)		$ 0.001		$ 0.001
Preferred stock, shares issued (in shares)		25,000		25,000
Preferred stock, shares outstanding (in shares)		25,000		25,000
Dividend rate		9%
Redemption price		110%
Liquidation preference per share (in dollars per share)		$ 1,000
Aggregate liquidation preference		$ 38,392,444
Dividends accrued		$ 13,400,000		$ 10,100,000
Dividends accrued (in dollars per share)		$ 535.71		$ 404.93
[1]Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1[2]Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1

Stockholders' Equity (Deficit_3

Stockholders' Equity (Deficit) - Issuance of Warrants (Details)	Dec. 31, 2024 $ / shares shares
Class of Stock [Line Items]
Number of Shares to Purchase with Warrants (in shares)	3,018,304
Warrants Issuance Date June 28, 2024
Class of Stock [Line Items]
Number of Shares to Purchase with Warrants (in shares)	550,000
Exercise price (in dollars per share) | $ / shares	$ 12.12
Warrants Issuance Date July 18, 2024
Class of Stock [Line Items]
Number of Shares to Purchase with Warrants (in shares)	236,074
Exercise price (in dollars per share) | $ / shares	$ 13.37
Warrants Issuance Date August 02, 2024
Class of Stock [Line Items]
Number of Shares to Purchase with Warrants (in shares)	88,534
Exercise price (in dollars per share) | $ / shares	$ 11.03
Warrants Issuance Date October 24, 2024
Class of Stock [Line Items]
Number of Shares to Purchase with Warrants (in shares)	20,646
Exercise price (in dollars per share) | $ / shares	$ 12.34
Warrant Issuance Date November 06, 2024, One
Class of Stock [Line Items]
Number of Shares to Purchase with Warrants (in shares)	180,000
Exercise price (in dollars per share) | $ / shares	$ 11.27
Warrant Issuance Date November 06, 2024, Two
Class of Stock [Line Items]
Number of Shares to Purchase with Warrants (in shares)	1,543,363
Exercise price (in dollars per share) | $ / shares	$ 12.12
Warrant Issuance Date November 06, 2024, Three
Class of Stock [Line Items]
Number of Shares to Purchase with Warrants (in shares)	29,687
Exercise price (in dollars per share) | $ / shares	$ 12.34
Warrant Issuance Date November 06, 2024, Four
Class of Stock [Line Items]
Number of Shares to Purchase with Warrants (in shares)	370,000
Exercise price (in dollars per share) | $ / shares	$ 15.77

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3,939	$ 7,444
Shares issued under the ESPP (in shares)	26,096	64,150
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of stock options granted	10 years
Weighted-average fair value of stock option awards granted (in dollars per share)	$ 5.82	$ 3.16
Intrinsic value of stock options exercised during period	$ 100
Unrecognized share-based compensation expense related to non-vested stock options	$ 500
Expected recognition period	2 years 11 months 8 days
Share-based compensation expense	$ 800	$ 4,000
Stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected recognition period	3 years 2 months 1 day
Share-based compensation expense	$ 3,100	3,300
Total vest date fair value of RSUs vested	2,000	1,200
Unrecognized share-based compensation expense related to non-vested RSUs	$ 6,900
Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under the plan (in shares)	722,280
Share-based compensation expense	$ 100	$ 100
Percentage of lower limit value of common stock	85%
Purchase period duration	6 months
Maximum limit of payroll deductions (percent)	10%
2018 Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under the plan (in shares)	5,775,308
Shares available for future issuance or purchase (in shares)	2,602,875,000,000

Share-based Compensation - Shar

Share-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	$ 3,939	$ 7,444
Cost of revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	126	662
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	691	1,526
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	430	1,138
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	2,577	3,645
Income from discontinued operations, net of tax
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	$ 115	$ 473

Share-based Compensation - Weig

Share-based Compensation - Weighted-Average Fair Value Assumptions (Details) - Stock options	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0%	0%
Risk-free interest rate	4.20%	4.30%
Volatility	95.10%	173.60%
Expected term (in years)	4 years	4 years 4 months 24 days

Share-based Compensation - Stoc

Share-based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Stock Options Outstanding
Outstanding — beginning of period	545,872	813,296
Granted	44,250	82,825
Exercised	(1,475)	0
Canceled	(318,796)	(350,249)
Outstanding — end of period	269,851	545,872
Vested and Expected to Vest — December 31, 2024	248,326
Exercisable — December 31, 2024	164,405
Weighted-Average Exercise Price Per Option
Outstanding — beginning of period (in dollars per share)	$ 44.16	$ 46.50
Granted (in dollars per share)	8.40	4.13
Exercised (in dollars per share)	15.53	0
Canceled (in dollars per share)	54.28	38.39
Outstanding — end of period (in dollars per share)	26.49	$ 44.16
Vested and Expected to Vest (in dollars per share)	28.17
Exercisable (in dollars per share)	$ 38.22
Weighted-Average Remaining Contractual Term (Years), Options Outstanding	6 years 18 days
Weighted-Average Remaining Contractual Term (Years), Options Vested and Expected to Vest	5 years 9 months 18 days
Weighted-Average Remaining Contractual Term (Years), Options Exercisable	4 years 2 months 12 days
Aggregate Intrinsic Value, Options Outstanding	$ 619
Aggregate Intrinsic Value, Options Vested and Expected to Vest	526
Aggregate Intrinsic Value, Options Exercisable	$ 149

Share-based Compensation - Rest

Share-based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Number of Shares
Non-vested — beginning of period	203,008	117,837
Granted	1,106,862	366,713
Vested	(164,288)	(246,706)
Forfeited	(33,741)	(34,836)
Non-vested — end of period	1,111,841	203,008
Weighted-Average Grant-Date Fair Value
Non-vested — beginning of period (in dollars per share)	$ 19.84	$ 73.30
Granted (in dollars per share)	9.34	5.78
Vested (in dollars per share)	13.42	12.92
Forfeited (in dollars per share)	31.68	39.77
Non-vested — end of period (in dollars per share)	$ 10	$ 19.84

Income (Loss) per Share - Calcu

Income (Loss) per Share - Calculation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Basic and Diluted EPS
Loss from continuing operations		$ (14,369)	$ (45,016)
Less: preferred stock dividends		(3,269)	(2,991)
Loss from continuing operations attributable to common stockholders		(17,638)	(48,007)
Income from discontinued operations, net of tax		18,941	(1,169)
Net income (loss) attributable to common stockholders		$ 1,303	$ (49,176)
Shares
Income (loss) from continuing / discontinued operations attributable to common stockholders (in shares)	[1]	12,535,756	11,372,069
Income attributable to common stockholders (in shares)	[1]	12,535,756	11,372,069
Basic EPS
Loss from continuing operations attributable to common stockholders (in dollars per share)		$ (1.41)	$ (4.22)
Income (loss) from discontinued operations, net of tax (in dollars per share)		1.51	(0.10)
Basic earnings (loss) per share (in dollars per share)	[1]	0.10	(4.32)
Diluted EPS
Loss from continuing operations attributable to common stockholders (in dollars per share)		(1.41)	(4.22)
Income (loss) from discontinued operations, net of tax (in dollars per share)		1.51	(0.10)
Diluted earnings (loss) per share (in dollars per share)	[1]	$ 0.10	$ (4.32)
[1]Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1. Rounding may affect summation.

Income (Loss) per Share - Antid

Income (Loss) per Share - Antidilutive Securities (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	4,548	2,065
2025 Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	119	1,291
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,018	0
Non-qualified stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	270	546
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,112	203
Employee Stock Purchase Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	29	25

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Noncancelable purchase obligations	$ 44.9

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating right-of-use assets, net	$ 2,855	$ 4,022
Current operating lease liabilities	1,346	1,226
Non-current operating lease liabilities	2,627	3,972
Present value of net minimum operating lease payments	$ 3,973	$ 5,198
Weighted-average remaining lease term (in years)	2 years 8 months 12 days	3 years 7 months 6 days
Weighted-average discount rate	9%	9%
Operating lease costs included in operating costs and expenses	$ 1,578	$ 1,521
Operating cash flows related to operating leases	1,636	1,659
Operating right-of-use assets obtained in exchange for lease liabilities	$ 0	$ 0

Leases - Future Minimum Payment

Leases - Future Minimum Payments Under Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
2025	$ 1,637
2026	1,687
2027	1,131
Total minimum operating lease payments	4,455
Less: amounts representing interest	(482)
Present value of net minimum operating lease payments	3,973	$ 5,198
Less: current portion	$ (1,346)	$ (1,226)
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Long-term portion of operating lease obligations	$ 2,627	$ 3,972

Segment, Geographic, and Conc_3

Segment, Geographic, and Concentrations of Risk Information - Narrative (Details) - segment	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Number of reportable segments	1
Net Revenues | Customer Concentration | Customer One
Segment Reporting Information [Line Items]
Concentration percentage	41.90%	37%
Net Revenues | Customer Concentration | Customer Two
Segment Reporting Information [Line Items]
Concentration percentage	33.60%	31.80%
Net Revenues | Customer Concentration | Customer Three
Segment Reporting Information [Line Items]
Concentration percentage		17.60%
Accounts Receivable | Customer Concentration | Customer One
Segment Reporting Information [Line Items]
Concentration percentage	33.60%	51.90%
Accounts Receivable | Customer Concentration | Customer Two
Segment Reporting Information [Line Items]
Concentration percentage	22.80%	12.70%
Accounts Receivable | Customer Concentration | Customer Three
Segment Reporting Information [Line Items]
Concentration percentage	18.80%	10.60%

Segment, Geographic, and Conc_4

Segment, Geographic, and Concentrations of Risk Information - Revenues, Significant Expenses and Other Segment Items (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenues	$ 191,244,000	$ 167,286,000
Less:
Share-based compensation	3,939,000	7,444,000
Amortization of purchased intangible assets related to business combinations	11,100,000	15,800,000
Impairment of capitalized software	927,000	1,115,000
Right-of-use asset impairment	0	0
Loss on debt restructurings, net	2,851,000	0
Loss on extinguishment of revolving credit facility	788,000	0
Interest expense, net	10,906,000	9,086,000
Other income (expense), net	850,000	(70,000)
Income tax provision	689,000	43,000
Loss from continuing operations, net of tax	(14,369,000)	(45,016,000)
Income (Loss) from discontinued operations, net of tax	18,941,000	(1,169,000)
Net income (loss)	4,572,000	(46,185,000)
Reportable Segment
Segment Reporting Information [Line Items]
Revenues	191,244,000	167,286,000
Less:
Adjusted cost of revenues	122,321,000	130,847,000
Adjusted research and development	19,905,000	18,199,000
Adjusted sales and marketing	15,522,000	15,495,000
Adjusted general and administrative	13,203,000	11,738,000
Adjusted depreciation and amortization	11,048,000	17,088,000
Capitalizable software development expenditures	4,248,000	7,350,000
Capitalized software development expenditures	(4,248,000)	(7,350,000)
Share-based compensation	3,823,000	6,972,000
Amortization of purchased intangible assets related to business combinations	1,320,000	1,320,000
Impairment of capitalized software	927,000	1,115,000
Right-of-use asset impairment	138,000	469,000
Debt restructuring costs	1,322,000	0
Loss on debt restructurings, net	2,851,000	0
Loss on extinguishment of revolving credit facility	788,000	0
Interest expense, net	10,906,000	9,086,000
Other income (expense), net	850,000	(70,000)
Income tax provision	689,000	43,000
Loss from continuing operations, net of tax	(14,369,000)	(45,016,000)
Income (Loss) from discontinued operations, net of tax	18,941,000	(1,169,000)
Net income (loss)	$ 4,572,000	$ (46,185,000)

Segment, Geographic, and Conc_5

Segment, Geographic, and Concentrations of Risk Information - Geographic Concentration of Net Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Net revenue by geographic region
Total revenues	$ 191,244	$ 167,286
United States and Canada
Net revenue by geographic region
Total revenues	184,324	163,490
Europe (including United Kingdom)
Net revenue by geographic region
Total revenues	5,298	2,586
Other
Net revenue by geographic region
Total revenues	$ 1,622	$ 1,210

Subsequent Events (Details)

Subsequent Events (Details) - shares		12 Months Ended
	Jan. 06, 2025	Dec. 31, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Shares granted (in shares)		44,250	82,825
Stock options | Subsequent event
Subsequent Event [Line Items]
Shares granted (in shares)	855,000
Vesting period	4 years
Restricted Stock Units, Service And Market Based Vesting | Subsequent event
Subsequent Event [Line Items]
Vesting period	3 years
RSU granted (in shares)	167,910
Restricted Stock Units Subject To Service Conditions | Subsequent event
Subsequent Event [Line Items]
Vesting period	4 years
RSU granted (in shares)	124,347