Inseego (INSG) 10-Q3 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2022	Oct. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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, par value $0.001 per share
Trading Symbol	INSG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		107,849,965
Entity Central Index Key	0001022652
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 18,063	$ 46,474
Restricted cash	0	3,338
Accounts receivable, net of allowance for doubtful accounts of $371 and $408, respectively	28,668	26,781
Inventories	42,406	37,402
Prepaid expenses and other	10,902	13,624
Total current assets	100,039	127,619
Property, plant and equipment, net of accumulated depreciation of $25,240 and $26,692, respectively	6,157	8,102
Rental assets, net of accumulated depreciation of $5,919 and $5,392, respectively	4,411	4,575
Intangible assets, net of accumulated amortization of $63,425 and $48,404, respectively	44,406	46,995
Goodwill	21,922	20,336
Right-of-use assets, net	6,902	7,839
Other assets	563	377
Total assets	184,400	215,843
Current liabilities:
Accounts payable	39,537	48,577
Accrued expenses and other current liabilities	31,476	26,253
Total current liabilities	71,013	74,830
Liabilities, Noncurrent [Abstract]
2025 Notes, net	158,079	157,866
Revolving credit facility, net	3,451	0
Deferred tax liabilities, net	816	852
Other long-term liabilities	6,841	7,149
Total liabilities	240,200	240,697
Commitments and Contingencies
Stockholders’ deficit:
Preferred Stock, Value, Issued	0	0
Common stock, par value $0.001; 150,000,000 shares authorized, 107,846,082 and 105,380,533 shares issued and outstanding, respectively	108	105
Additional paid-in capital	790,460	770,619
Accumulated other comprehensive loss	(3,950)	(8,531)
Accumulated deficit	(842,418)	(787,047)
Total stockholders’ deficit	(55,800)	(24,854)
Total liabilities and stockholders’ deficit	$ 184,400	$ 215,843

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Allowance for doubtful accounts	$ 371	$ 408
Accumulated depreciation, Property, plant and equipment	25,240	26,692
Accumulated depreciation, Rental assets	5,919	5,392
Accumulated amortization, Intangible assets	$ 63,425	$ 48,404
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)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	107,846,082	105,380,533
Common stock, shares outstanding (in shares)	107,846,082	105,380,533
Revolving credit facility, net	$ 3,451	$ 0
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 issued (in shares)	25,000	25,000
Preferred stock, shares outstanding (in shares)	25,000	25,000
Preferred stock, liquidation preference per share (in dollars per share)	$ 1,000	$ 1,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net revenues:
Total net revenues	$ 69,167	$ 66,217	$ 192,408	$ 189,507
Cost of net revenues:
Total cost of net revenues	51,211	47,274	141,310	131,742
Gross profit	17,956	18,943	51,098	57,765
Operating costs and expenses:
Research and development	15,417	12,626	47,597	38,954
Sales and marketing	8,295	9,172	25,789	29,997
General and administrative	5,720	6,599	20,101	22,657
Amortization of purchased intangible assets	433	519	1,319	1,649
Impairment of capitalized software	0	0	0	1,197
Total operating costs and expenses	29,865	28,916	94,806	94,454
Operating loss	(11,909)	(9,973)	(43,708)	(36,689)
Other (expense) income:
Gain on sale of Ctrack South Africa	0	5,262	0	5,262
Loss on debt conversion and extinguishment, net	0	0	(450)	(432)
Interest expense, net	(2,034)	(1,655)	(6,621)	(5,178)
Other (expense) income, net	(1,758)	(828)	(3,145)	291
Total other (expense) income	(3,792)	2,779	(10,216)	(57)
Loss before income taxes	(15,701)	(7,194)	(53,924)	(36,746)
Income tax provision (benefit)	42	(4)	(582)	445
Net loss	(15,743)	(7,190)	(53,342)	(37,191)
Less: Net income attributable to noncontrolling interests	0	0	0	(214)
Net loss attributable to Inseego Corp.	(15,743)	(7,190)	(53,342)	(37,405)
Series E preferred stock dividends	(691)	(1,843)	(2,029)	(3,596)
Net loss attributable to common stockholders	$ (16,434)	$ (9,033)	$ (55,371)	$ (41,001)
Net loss per common share:
Basic (in dollars per share)	$ (0.15)	$ (0.09)	$ (0.52)	$ (0.40)
Diluted (in dollars per share)	$ (0.15)	$ (0.09)	$ (0.52)	$ (0.40)
Weighted-average shares used in computation of net loss per common share:
Basic (in shares)	107,747,468	103,430,083	106,977,201	102,586,121,000
Diluted (in shares)	107,747,468	103,430,083	106,977,201	102,586,121,000
IoT & Mobile Solutions
Net revenues:
Total net revenues	$ 62,633	$ 56,975	$ 172,129	$ 151,770
Cost of net revenues:
Total cost of net revenues	48,209	43,595	131,805	116,777
Enterprise SaaS Solutions
Net revenues:
Total net revenues	6,534	9,242	20,279	37,737
Cost of net revenues:
Total cost of net revenues	$ 3,002	$ 3,679	$ 9,505	$ 14,965

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (15,743)	$ (7,190)	$ (53,342)	$ (37,191)
Foreign currency translation adjustment	1,147	(2,571)	4,581	(1,878)
Release of cumulative foreign currency translation adjustments as a result of the sale of Ctrack South Africa	0		0	1,608
Total comprehensive loss	(14,596)	(8,153)	(48,761)	(37,461)
Comprehensive income attributable to noncontrolling interests	0	0	0	(214)
Comprehensive loss attributable to Inseego Corp.	$ (14,596)	$ (8,153)	$ (48,761)	$ (37,675)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Deficit - USD ($) shares in Thousands, $ in Thousands	Total	2025 Notes	2022 Notes	Common shares	Series E preferred stock	Preferred Stock	Preferred Stock Series E preferred stock	Common Stock	Common Stock 2025 Notes	Common Stock Common shares	Common Stock Series E preferred stock	Additional Paid-in Capital	Additional Paid-in Capital 2025 Notes	Additional Paid-in Capital 2022 Notes	Additional Paid-in Capital Common shares	Additional Paid-in Capital Series E preferred stock	Accumulated Deficit	Accumulated Deficit Series E preferred stock	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Beginning balance (shares) at Dec. 31, 2020						35		99,399
Beginning balance at Dec. 31, 2020	$ (27,899)					$ 0		$ 99				$ 711,487					$ (732,422)		$ (6,972)	$ (91)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(37,191)																(37,405)			214
Foreign currency translation adjustment	(1,878)																		(1,878)
Exercise of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan (shares)								2,081
Exercise of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan	3,537							$ 2				3,535
Taxes withheld on net settled vesting of restricted stock units	(1,105)											(1,105)
Issuance of common shares in connection with conversion of notes (shares)									429
Issuance of common shares in connection with conversion of notes		$ 5,382											$ 5,382
Issuance of common shares in connection with a public offering, net of issuance costs (shares)										1,516
Issuance of common shares in connection with a public offering, net of issuance costs				$ 29,370						$ 2					$ 29,368
Share-based compensation	14,467											14,467
Series E preferred stock dividends					$ 0											$ 2,492		$ (2,492)
Preferred Stock Exchange, Shares							(10)				1,525
Preferred Stock Exchange					0						$ 2					1,102		(1,104)
Release of cumulative foreign currency translation adjustments as a result of sale of Ctrack South Africa	(140)											8					(1,748)		1,608	(8)
Net noncontrolling interest acquired	125																240			(115)
Ending balance (shares) at Sep. 30, 2021						25		104,950
Ending balance at Sep. 30, 2021	(15,332)					$ 0		$ 105				766,736					(774,931)		(7,242)	0
Beginning balance (shares) at Jun. 30, 2021						35		103,109
Beginning balance at Jun. 30, 2021	(8,906)					$ 0		$ 103				761,412					(764,150)		(6,279)	8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(7,190)																(7,190)
Foreign currency translation adjustment	(2,571)																		(2,571)
Exercise of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan (shares)								316
Exercise of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan	693											693
Taxes withheld on net settled vesting of restricted stock units	(280)											(280)
Share-based compensation	3,062											3,062
Series E preferred stock dividends	0											739					(739)
Preferred Stock Exchange, Shares							(10)				1,525
Preferred Stock Exchange					0						$ 2					1,102		(1,104)
Release of cumulative foreign currency translation adjustments as a result of sale of Ctrack South Africa	(140)											8					(1,748)		1,608	(8)
Ending balance (shares) at Sep. 30, 2021						25		104,950
Ending balance at Sep. 30, 2021	(15,332)					$ 0		$ 105				766,736					(774,931)		(7,242)	0
Beginning balance (shares) at Dec. 31, 2021						25		105,381
Beginning balance at Dec. 31, 2021	(24,854)					$ 0		$ 105				770,619					(787,047)		(8,531)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(53,342)
Foreign currency translation adjustment	4,581																		4,581
Adjustment relating to extinguishment of 2022 Notes			$ 1,727											$ 1,727
Exercise of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan (shares)								2,470
Exercise of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan	253							$ 3				250
Taxes withheld on net settled vesting of restricted stock units	(57)											(57)
Taxes withheld on net settled vesting of restricted stock units (in shares)								(5)
Share-based compensation	15,892											15,892
Series E preferred stock dividends					0											2,029		(2,029)
Ending balance (shares) at Sep. 30, 2022						25		107,846
Ending balance at Sep. 30, 2022	(55,800)					$ 0		$ 108				790,460					(842,418)		(3,950)	0
Beginning balance (shares) at Jun. 30, 2022						25		107,645
Beginning balance at Jun. 30, 2022	(43,690)					$ 0		$ 108				787,283					(825,984)		(5,097)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(15,743)																(15,743)
Foreign currency translation adjustment	1,147																		1,147
Exercise of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan (shares)								201
Exercise of stock options, vesting of restricted stock units and stock issued under employee stock purchase plan	101											101
Taxes withheld on net settled vesting of restricted stock units	(21)											(21)
Share-based compensation	2,406											2,406
Series E preferred stock dividends					$ 0											$ 691		$ (691)
Ending balance (shares) at Sep. 30, 2022						25		107,846
Ending balance at Sep. 30, 2022	$ (55,800)					$ 0		$ 108				$ 790,460					$ (842,418)		$ (3,950)	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (53,342)	$ (37,191)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	20,936	19,131
Provision for bad debts	29	346
Impairment of capitalized software	0	1,197
Provision for excess and obsolete inventory	1,330	587
Share-based compensation expense	15,892	14,467
Amortization of debt discount and debt issuance costs	2,472	1,117
Fair value adjustment on derivative instrument	(902)	(3,435)
Loss on debt conversion and extinguishment, net	450	432
Gain on sale of Ctrack South Africa	0	(5,262)
Deferred income taxes	(223)	175
Finance Lease, Right-of-Use Asset, Amortization	1,057	1,364
Other	0	572
Changes in assets and liabilities, net of effects of divestiture:
Accounts receivable	(561)	2,834
Inventories	(5,926)	(7,889)
Prepaid expenses and other assets	2,723	1,429
Accounts payable	(13,548)	(7,206)
Accrued expenses, income taxes, and other	6,276	4,797
Increase (Decrease) in Operating Lease Liability	(1,366)	(2,222)
Net cash used in operating activities	(24,703)	(14,757)
Cash flows from investing activities:
Acquisition of noncontrolling interest	0	(116)
Purchases of property, plant and equipment	(1,203)	(4,299)
Proceeds from the sale of property, plant and equipment	0	1,143
Proceeds from sale of Ctrack South Africa, net of sold cash	0	31,526
Additions to capitalized software development costs	(9,242)	(20,589)
Net cash (used in) provided by investing activities	(10,445)	7,665
Cash flows from financing activities:
Net (repayment) borrowing of bank and overdraft facilities	(458)	315
Principal payments under finance lease obligations	(62)	(3,138)
Proceeds from a public offering, net of issuance costs	0	29,370
Principal payments on financed assets	(1,567)	0
Proceeds from Lines of Credit	9,000	0
Repayments of Lines of Credit	(4,500)	0
Payments of Debt Issuance Costs	(1,126)	0
Proceeds from stock option exercises and employee stock purchase plan, net of taxes paid on vested restricted stock units	196	2,432
Net cash provided by financing activities	1,483	28,979
Effect of exchange rates on cash	1,916	(293)
Net (decrease) increase in cash, cash equivalents and restricted cash	(31,749)	21,594
Cash, cash equivalents and restricted cash, beginning of period	49,812	40,015
Cash, and cash equivalents, and restricted cash, end of period	18,063	61,609
Cash paid during the year for:
Interest	2,675	2,782
Income taxes	96	378
Supplemental disclosures of non-cash activities:
Transfer of inventories to rental assets	297	4,394
Capital expenditures financed through accounts payable or accrued liabilities	4,402	2,643
Right-of-use assets obtained in exchange for operating leases liabilities	342	544
Exchange of Series E Preferred Stock for common stock	0	11,982
Issuance of common stock in exchange for Series E Preferred Stock	0	13,086
Deemed dividend on exchange of Series E Preferred Stock for common stock	0	1,104
2025 Notes conversion, including shares issued in satisfaction of interest make-whole payment	$ 0	$ 5,383

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements contained herein have been prepared by Inseego Corp. (the “Company”) in accordance with the Securities and Exchange Commission (the “SEC”) rules for interim financial information. Accordingly, the condensed consolidated financial statements reflect all normal recurring adjustments, which are, in the opinion of management, necessary for fair presentation of the results of interim periods and may not include all disclosures required by accounting principles generally accepted in the United States (“GAAP”). The information as of September 30, 2022 and for the three and nine months ended September 30, 2022 and September 30, 2021, is unaudited, whereas the condensed consolidated balance sheet as of December 31, 2021 is derived from the Company’s audited consolidated financial statements as of that date. These condensed consolidated financial statements and notes hereto should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (the “Form 10-K”). Certain prior period amounts were reclassified to conform to the current period presentation. These reclassifications did not affect total revenues, costs and expenses, net loss, assets, liabilities or stockholders’ deficit. The accounting policies used in preparing these condensed consolidated financial statements are the same as those described in the Form 10-K. The results of operations for the interim periods presented are not necessarily indicative of results to be expected for any other interim period or for the year as a whole. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Segment Information Management has determined that the Company has one reportable segment. The Chief Executive Officer, who is also the Chief Operating Decision Maker, does not manage any part of the Company separately, and allocations of resources and assessments of performance are based solely on the Company’s consolidated operations and financial results. 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, valuation of intangible and long-lived assets, valuation of goodwill, valuation of derivatives, accruals relating to litigation, income taxes and share-based compensation expense. Risks and Uncertainties In March 2020, the World Health Organization declared a global pandemic caused by the novel coronavirus (“COVID-19”), resulting in shutdowns of manufacturing and commerce globally in the months that followed. The extent of the impact of the COVID-19 pandemic on the Company’s operational and financial performance will depend on future developments, including the duration, severity and spread of the outbreak, emergence of new variants of concern, and actions taken by the federal, state, local and foreign governments to contain the pandemic, all of which are uncertain and cannot be predicted. In addition, a global semiconductor supply shortage is causing wide-ranging impacts across the technology industry. While the shortage has not materially impacted the Company’s operations and financial results, it may negatively impact our customers and the supply of materials needed for our testing and production timeline. Our suppliers, contract manufacturers, and customers are all taking actions to reduce the impact of the semiconductor shortage; however, if the shortage persists, the impact on our operations and financial results could be material. The inflationary pressures impacting the global supply chain could potentially increase the cost of net revenues in the current and future years. The ongoing inflation challenges could adversely impact our future revenues, gross margins and financial results. Sale of Ctrack South Africa On July 30, 2021, the Company completed the sale of its Ctrack business operations in Africa, Pakistan and the Middle East (together “Ctrack South Africa”) and recognized a pre-tax gain of $5.3 million. Total cash proceeds received from the sale were $31.5 million, net of cash divested of $5.0 million. Liquidity As of September 30, 2022, the Company had available unrestricted cash and cash equivalents totaling $18.1 million and $14.6 million of excess availability under its secured asset-backed revolving credit facility. See Note 4, Debt , for more information on this new credit facility. The Company has a history of operating and net losses and overall usage of cash from operating and investing activities. The Company’s management believes that its cash and cash equivalents on-hand, together with anticipated cash flows from operations, availability under its secured asset-backed revolving credit facility, and anticipated savings from ongoing cost reduction efforts, will be sufficient to meet its cash flow needs for the next twelve months from the filing date of this report. The Company’s ability to attain more profitable operations and continue to generate positive cash flow is dependent upon achieving a level and mix of revenues adequate to support its evolving cost structure. If events or circumstances occur such that the Company does not meet its operating plans as expected, or if the Company becomes obligated to pay unforeseen expenditures as a result of ongoing litigation, the Company may be required to raise capital, reduce planned research and development activities, incur additional restructuring charges or reduce other operating expenses and capital expenditures, which could have an adverse impact on its ability to achieve its intended business objectives. The Company’s liquidity could also be impaired by significant interruptions in its business operations, such as those described above under the heading Risks and Uncertainties , or, a material failure to satisfy its contractual commitments or a failure to generate revenues from new or existing products. In addition, there can be no assurance that any required or desired restructuring or financing will be available on terms favorable to the Company, or at all. 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, cash equivalents and restricted cash are recorded at market value, which approximates cost. 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. Restricted cash held in escrow as of December 31, 2021 was released during the third quarter of 2022 and we no longer have any restricted cash on our balance sheet as of September 30, 2022. Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40)-Accounting For Convertible Instruments and Contracts in an Entity's Own Equity . The ASU simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. The ASU also simplifies the diluted net income per share calculation in certain areas. The guidance is effective for annual and interim periods beginning after December 15, 2021. The Company adopted the ASU in the first quarter of fiscal 2022 and there was no impact to the condensed consolidated financial statements. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) . The ASU addresses issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. The ASU is effective for annual and interim periods beginning after December 15, 2021. The Company adopted the ASU in the first quarter of fiscal 2022 and there was no impact to the condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In September 2022, the 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.

Financial Statement Details

Financial Statement Details	9 Months Ended
Financial Statement Details	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statement Details	Financial Statement Details Inventories Inventories consist of the following (in thousands): September 30, December 31, Finished goods $ 35,644 $ 33,112 Raw materials and components 6,762 4,290 Total inventories $ 42,406 $ 37,402 Prepaid expenses and other Prepaid expenses and other consists of the following (in thousands): September 30, December 31, Rebate receivables $ 4,015 $ 6,398 Receivables from contract manufacturers 3,239 2,626 Software licenses 1,062 1,261 Insurance 218 1,269 Deposits 870 1,023 Financed assets 295 323 Other 1,203 724 $ 10,902 $ 13,624 Accrued expenses and other current liabilities Accrued expenses and other current liabilities consist of the following (in thousands): September 30, December 31, Royalties $ 1,970 $ 2,243 Payroll and related expenses 10,106 9,326 Warranty obligations 458 473 Professional fees 586 502 Accrued interest 2,410 877 Customer contract liabilities 8,554 3,832 Operating lease liabilities 1,662 1,769 Accrued contract manufacturing liabilities 1,599 927 Value added tax payables 424 642 Other 3,707 5,662 Total accrued expenses and other current liabilities $ 31,476 $ 26,253

Fair Value Measurement of Asset

Fair Value Measurement of Assets and Liabilities	9 Months Ended
Fair Value Measurement of Assets and Liabilities	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement of Assets and Liabilities	Fair Value Measurement of Assets and Liabilities Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. Each fair value measurement is classified into one of the following levels based on the information used in the valuation: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. Level 3: The fair market value for level 3 securities may be highly sensitive to the use of unobservable inputs and subjective assumptions. Generally, changes in significant unobservable inputs may result in significantly lower or higher fair value measurements. The following table summarizes the Company’s financial instruments measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 December 31, 2021 Total Fair Value Level 3 Level 1 Total Fair Value Level 3 Level 1 Assets Cash equivalents Money market funds $ — $ — $ — $ 126 $ — $ 126 Total assets $ — $ — $ — $ 126 $ — $ 126 Liabilities 2025 Notes Interest make-whole payment $ 24 $ 24 $ — $ 926 $ 926 $ — Total liabilities $ 24 $ 24 $ — $ 926 $ 926 $ — The fair value of the interest make-whole payment derivative liability was determined using a Monte Carlo model using the following key assumptions: September 30, 2022 December 31, 2021 Volatility 50 % 50 % Stock price $2.07 per share $5.83 per share Credit spread 30.78 % 15.93 % Term 2.59 years 3.34 years Dividend yield — % — % Risk-free rate 4.24 % 1.02 % No unrealized gain related to the interest make-whole payment derivative liability was recognized for the three months ended September 30, 2022, compared to a $1.6 million,unrealized gain for the three months ended September 30, 2021. The Company also recognized $0.9 million and $3.4 million of unrealized gains for the nine months ended September 30, 2022 and 2021, respectively. Unrealized gains and losses on the interest make-whole payment derivative are included within other income (expense), net, on the condensed consolidated statements of operations. The Company reviews the fair value hierarchy classification of its financial instruments measured at fair value on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. There have been no transfers of assets or liabilities between fair value measurement classifications during the nine months ended September 30, 2022 or 2021. Other Financial Instruments

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt 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”), and Inseego North America LLC, an Oregon limited liability company, as borrowers (together with Inseego Wireless, the “Borrowers”), and the Company, as guarantor (together with the Borrowers, the “Loan Parties”). The Credit Agreement establishes a secured asset-backed revolving credit facility which is comprised of a maximum $50 million revolving credit facility (“Credit Facility”), with a minimum draw of $4.5 million upon execution of the Credit Agreement. The Credit Facility matures on December 31, 2024. Availability under the Credit Facility is 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 must be repaid immediately. The Borrowers’ obligations under the Credit Agreement are guaranteed by the Company. The Loan Parties’ obligations under the Credit Agreement are secured by a continuing security interest in all property of each Loan Party, subject to certain Excluded Collateral (as defined in the Credit Agreement). Borrowings under the Credit Facility may take the form of base rate (“Base Rate”) loans or Secured Overnight Financing Rate (“SOFR”) loans. SOFR loans will bear interest at a rate per annum equal to Term SOFR (as defined in the Credit Agreement as the Term SOFR Reference Rate for a tenor of one month on the day) plus the Applicable Margin (as defined in the Credit Agreement), with a Term SOFR floor of 1%. Base Rate loans will bear interest at a rate per annum equal to the Applicable Margin plus the greatest of (a) the per annum rate of interest which is identified as the “Prime Rate” and normally published in the Money Rates section of The Wall Street Journal, (b) the sum of the Federal Funds Rate (as defined in the Credit Agreement) plus 0.5% and (c) 3.50% per annum. The Applicable Margin varies depending on the average outstanding amount for a preceding month. If the average outstanding amount for a preceding month is less than $15 million, the Applicable Margin will be 2.50% for Base Rate loans and 3.50% for SOFR loans. If the average outstanding amount for a preceding month is between $15 million and $25 million, the Applicable Margin will be 3.00% for Base Rate loans and 4.00% for SOFR loans. If the average outstanding amount for a preceding month is greater than $25 million, the Applicable Margin will be 4.5% for Base Rate loans and 5.50% for SOFR loans. The Credit Agreement contains a financial covenant whereby the Loan Parties shall not permit the consolidated Liquidity (as defined in the Credit Agreement) to be less than $10 million at any time. The Credit Agreement also contains certain customary covenants, which include, but are not limited to, restrictions on indebtedness, liens, fundamental changes, restricted payments, asset sales, and investments, and places limits on various other payments. The Company was in compliance with all Credit Agreement covenants as of September 30, 2022. Upon execution of the Credit Agreement, the Company paid $1.1 million of debt issuance costs, which will be amortized to interest expense throughout the term of the agreement.. Through September 30, 2022, the Company borrowed an aggregate $9.0 million and repaid an aggregate $4.5 million under the Credit Facility. As of September 30, 2022, the Credit Facility had outstanding borrowings of $4.5 million and a borrowing base of $19.1 million. The Company’s policy is to classify outstanding borrowings as long-term so long as such borrowings are not expected to exceed the borrowing base over the 12 months subsequent to the balance sheet date, in which case, any excess borrowings would be classified as short-term. 2025 Notes On May 12, 2020, the Company completed its registered public offering of $100.0 million aggregate principal amount of 2025 Notes and issued $80.4 million principal amount of 2025 Notes in the privately negotiated exchange agreements that closed concurrently with the registered offering in May 2020. During the nine months ended September 30, 2021, certain holders of the 2025 Notes converted an aggregate of approximately $5.0 million in principal amount of the 2025 Notes into 428,669 shares of the Company’s common stock, including 32,221 shares of common stock issued in satisfaction of the interest make-whole payment. In connection therewith, the Company recorded a loss of $0.4 million on debt conversion, net in the condensed consolidated statement of operations. As of September 30, 2022 and December 31, 2021, $161.9 million in principal amount of the 2025 Notes were outstanding, $80.4 million of which were held by related parties, and $0.4 million of accrued interest due to related parties was included within accrued expenses and other current liabilities on the condensed consolidated balance sheets. Assuming no repurchases or conversions of the 2025 Notes prior to May 1, 2025, the entire principal balance of $161.9 million is due on May 1, 2025. The 2025 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. The 2025 Notes consist of the following (in thousands): September 30, December 31, Principal $ 161,898 $ 161,898 Add: fair value of embedded derivative 24 926 Less: unamortized debt discount (2,140) (2,761) Less: unamortized issuance costs (1,703) (2,197) Net carrying amount $ 158,079 $ 157,866 The effective interest rate on the liability component of the 2025 Notes was 4.13% and 4.12% for the three months ended September 30, 2022 and 2021, respectively, and 4.18% and 4.15% for the nine months ended September 30, 2022 and 2021, respectively. The following table sets forth total interest expense recog nized related to the 2025 Notes (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Contractual interest expense $ 1,315 $ 1,315 $ 3,946 $ 3,899 Amortization of debt discount 207 207 621 622 Amortization of debt issuance costs 165 165 494 495 Total interest expense $ 1,687 $ 1,687 $ 5,061 $ 5,016

Share-based Compensation

Share-based Compensation	9 Months Ended
Share-based Compensation	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation During the nine months ended September 30, 2022, 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”), and the 2015 Incentive Compensation Plan (the “2015 Plan”). The Compensation Committee of the Board of Directors administers the plans. Under the 2018 Plan, a maximum of 8,897,084 shares of common stock may be issued upon the exercise of stock options, in the form of restricted stock, or in settlement of restricted stock units (“RSUs”) or other awards, including awards with alternative vesting schedules such as performance-based criteria. For the three and nine months end ed September 30, 2022 and 2021 the following table presents total share-based compensation expense within each functional line item on the condensed consolidated statements of operations (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Cost of revenues $ 199 $ 416 $ 1,873 $ 2,228 Research and development 513 604 5,011 4,366 Sales and marketing 489 614 3,086 3,161 General and administrative 1,205 1,428 5,922 4,712 Total $ 2,406 $ 3,062 $ 15,892 $ 14,467 Stock Options The Compensation Committee of the Board of Directors determines eligibility, vesting schedules and exercise prices for stock options granted. The Company generally uses the Black-Scholes option pricing model to estimate the fair value of its stock options. 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 summarizes the Company’s stock option activ ity for the nine months ended September 30, 2022 : Outstanding — December 31, 2021 8,085,793 Granted 1,422,500 Exercised (264,343) Canceled (831,400) Outstanding — September 30, 2022 8,412,550 Exercisable — September 30, 2022 5,391,541 At September 30, 2022, total unrecognized compensatio n expense related to stock options was $8.9 million , which is expected to be recognized over a weighted-average period of 2.76 years . 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 The following table summarizes the Company’s RSU activity for the nine months ended September 30, 2022 : Non-vested — December 31, 2021 1,247,723 Granted 2,516,362 Vested (2,051,578) Forfeited (220,883) Non-vested — September 30, 2022 1,491,624 At September 30, 2022, total unrecognized compensation expense related to RSUs was $5.0 million , which is expected to be recognized over a weighted-average period of 2.71 years .

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings 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 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 the applicable exercise price is greater than the market price on the period end date as 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): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net loss attributable to common stockholders $ (16,434) $ (9,033) $ (55,371) $ (41,001) Weighted-average common shares outstanding 107,747,468 103,430,083 106,977,201 102,586,121 Basic and diluted net loss per share $ (0.15) $ (0.09) $ (0.52) $ (0.40) The following is a summary of outstanding anti-dilutive potential common stock that was excluded from diluted net loss per share attributable to stockholders: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 2025 Notes 14,341 14,341 14,341 14,341 Warrants — 2,500 — 2,500 Non-qualified stock options 8,557 8,169 8,787 8,169 Restricted stock units 1,438 487 1,441 487 Employee stock purchase plan 984 250 984 250 Total 25,320 25,747 25,553 25,747

Private Placements and Public O

Private Placements and Public Offering	9 Months Ended
Private Placements and Public Offering	Sep. 30, 2022
Equity [Abstract]
Private Placements and Public Offering	Private Placements and Public Offering In March 2019, the Company issued warrants to purchase 2,500,000 shares of common stock (the “2019 Warrants”) to certain accredited investors. Each 2019 Warrant had an initial exercise price of $7.00 per share, subject to adjustment for stock splits, reverse stock splits, stock dividends and similar transactions, and became exercisable on September 28, 2019. The Company determined that the warrants did not require liability accounting and classified the warrants as equity. At June 30, 2022, the warrants expired unexercised. 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”). In January 2021, the Company sold 1,516,073 shares of common stock, at an average price of $20.11 per share, for net proceeds of $29.4 million, after deducting underwriter fees and discounts, and other offering fees, pursuant to the ATM Offering.

Geographic Information and Conc

Geographic Information and Concentrations of Risk	9 Months Ended
Geographic Information and Concentrations of Risk	Sep. 30, 2022
Segment Reporting [Abstract]
Geographic Information and Concentrations of Risk	Geographic Information and Concentrations of Risk Geographic Information The following table details the Company’s net revenues by geographic region based on shipping destination (in thousands): Three Months Ended September 30, Nine Months Ended 2022 2021 2022 2021 United States and Canada $ 53,924 $ 56,614 $ 159,393 $ 150,822 Europe 6,954 5,828 20,176 17,425 South Africa (a) — 2,435 — 17,333 Australia (b) 7,543 982 9,966 2,883 Other 746 358 2,873 1,044 Total $ 69,167 $ 66,217 $ 192,408 $ 189,507 (a) In July 2021, the Company sold its Ctrack South Africa business. (b) Separated Australia and Europe from Other for all prior year periods presented. Concentrations of Credit Risk For the three months ended September 30, 2022, two customers accounted for 33.9% and 29.3% of net revenues, respectively. For the three months ende d September 30, 2021, two customers accounted for 40.4% and 32.5%, respectively, of net revenues. For the nine months ended September 30, 2022, two customers accounted for 50.8% and 44.4% of net revenues, respectively. For the nine months ended September 30, 2021, two customers accounted for 44.3% and 23.5%, respectively, of net revenues. As of September 30, 2022, three customers accoun ted

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Noncancellable Purchase Obligations The Company typically enters into commitments with its contract manufacturers that require future purchase of goods or services in the three to four quarters following the balance sheet date. Such commitments are noncancellable (“noncancellable purchase obligations”). As of September 30, 2022, future payments under these noncancellable purchase obligations were approximately $104.7 million. As of December 31, 2021, future payments under these noncancellable purchase obligations were approximately $165.8 million. 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 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 results of operations or financial condition.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2022
Leases [Abstract]
Leases	Leases The components of the right-of-use assets and lease liabilities were as follows (in thousands): Balance Sheet Classification September 30, December 31, Operating right-of-use assets, net Right-of-use assets, net $ 6,902 $ 7,839 Current operating lease liabilities Accrued expenses and other current liabilities $ 1,662 $ 1,769 Non-current operating lease liabilities Other long-term liabilities 6,056 7,112 Total operating lease liabilities $ 7,718 $ 8,881 Weighted-average remaining lease term (in years) 4.4 5.3 Weighted-average discount rate 9.0 % 9.1 % The components of lease cost were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Operating lease costs included in operating costs and expenses $ 589 $ 200 $ 1,789 $ 1,000 Supplemental cash flow information related to leases was as follows (in thousands): Nine Months Ended September 30, 2022 2021 Operating cash flows related to operating leases $ 1,857 $ 1,858 Operating right-of-use assets obtained in exchange for lease liabilities $ 342 $ 544 Future minimum payments under operating leases were as follows as of September 30, 2022 (in thousands): 2022 (remainder) $ 783 2023 2,146 2024 1,959 2025 1,684 2026 1,687 2027 1,125 Thereafter — Total minimum operating lease payments $ 9,384 Less: amounts representing interest (1,666) Present value of net minimum operating lease payments 7,718 Less: current portion (1,662) Long-term portion of operating lease obligations $ 6,056
Leases	Leases The components of the right-of-use assets and lease liabilities were as follows (in thousands): Balance Sheet Classification September 30, December 31, Operating right-of-use assets, net Right-of-use assets, net $ 6,902 $ 7,839 Current operating lease liabilities Accrued expenses and other current liabilities $ 1,662 $ 1,769 Non-current operating lease liabilities Other long-term liabilities 6,056 7,112 Total operating lease liabilities $ 7,718 $ 8,881 Weighted-average remaining lease term (in years) 4.4 5.3 Weighted-average discount rate 9.0 % 9.1 % The components of lease cost were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Operating lease costs included in operating costs and expenses $ 589 $ 200 $ 1,789 $ 1,000 Supplemental cash flow information related to leases was as follows (in thousands): Nine Months Ended September 30, 2022 2021 Operating cash flows related to operating leases $ 1,857 $ 1,858 Operating right-of-use assets obtained in exchange for lease liabilities $ 342 $ 544 Future minimum payments under operating leases were as follows as of September 30, 2022 (in thousands): 2022 (remainder) $ 783 2023 2,146 2024 1,959 2025 1,684 2026 1,687 2027 1,125 Thereafter — Total minimum operating lease payments $ 9,384 Less: amounts representing interest (1,666) Present value of net minimum operating lease payments 7,718 Less: current portion (1,662) Long-term portion of operating lease obligations $ 6,056

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s income tax provision (benefit) was $42 thousand and $(4) thousand for the three months ended September 30, 2022 and 2021, respectively, and $(0.6) million and $0.4 million for the nine months ended September 30, 2022 and 2021, respectively. Income taxes for all periods consisted primarily of foreign income taxes at certain of the Company’s international entities and minimum state taxes for its U.S.-based entities. The Company’s income tax expense differs from the expected expense based on statutory rates primarily due to full valuation allowances at all of its U.S.-based entities and several of its foreign subsidiaries. The income tax (benefit) provision for the nine months ended September 30, 2022 and 2021, were largely driven by foreign currency losses and gains, respectively, at the Company’s foreign subsidiaries. On March 11, 2021, Congress passed, and the President signed into law, the American Rescue Plan Act, 2021 (the “ARP”), which includes certain business tax provisions. The Company does not expect the ARP to have a material impact on the Company’s effective tax rate or income tax expense for the year ending December 31, 2022. On August 16, 2022, Congress passed, and the President signed into law, the Inflation Reduction Act, 2022 (the “IRA”), which includes certain business tax provisions. The Company does not expect the IRA to have a material impact on the Company’s effective tax rate or income tax expense for the year ending December 31, 2022.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	The condensed consolidated financial statements contained herein have been prepared by Inseego Corp. (the “Company”) in accordance with the Securities and Exchange Commission (the “SEC”) rules for interim financial information. Accordingly, the condensed consolidated financial statements reflect all normal recurring adjustments, which are, in the opinion of management, necessary for fair presentation of the results of interim periods and may not include all disclosures required by accounting principles generally accepted in the United States (“GAAP”). The information as of September 30, 2022 and for the three and nine months ended September 30, 2022 and September 30, 2021, is unaudited, whereas the condensed consolidated balance sheet as of December 31, 2021 is derived from the Company’s audited consolidated financial statements as of that date. These condensed consolidated financial statements and notes hereto should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (the “Form 10-K”). Certain prior period amounts were reclassified to conform to the current period presentation. These reclassifications did not affect total revenues, costs and expenses, net loss, assets, liabilities or stockholders’ deficit. The accounting policies used in preparing these condensed consolidated financial statements are the same as those described in the Form 10-K. The results of operations for the interim periods presented are not necessarily indicative of results to be expected for any other interim period or for the year as a whole.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Segment Information	Segment Information Management has determined that the Company has one reportable segment. The Chief Executive Officer, who is also the Chief Operating Decision Maker, does not manage any part of the Company separately, and allocations of resources and assessments of performance are based solely on the Company’s consolidated operations and financial results.
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, valuation of intangible and long-lived assets, valuation of goodwill, valuation of derivatives, accruals relating to litigation, income taxes and share-based compensation expense.
Recently Adopted Accounting Pronouncements and Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40)-Accounting For Convertible Instruments and Contracts in an Entity's Own Equity . The ASU simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. The ASU also simplifies the diluted net income per share calculation in certain areas. The guidance is effective for annual and interim periods beginning after December 15, 2021. The Company adopted the ASU in the first quarter of fiscal 2022 and there was no impact to the condensed consolidated financial statements. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) . The ASU addresses issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. The ASU is effective for annual and interim periods beginning after December 15, 2021. The Company adopted the ASU in the first quarter of fiscal 2022 and there was no impact to the condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In September 2022, the 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.

Financial Statement Details (Ta

Financial Statement Details (Tables)	9 Months Ended
Financial Statement Details (Tables)	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Inventories	Inventories consist of the following (in thousands): September 30, December 31, Finished goods $ 35,644 $ 33,112 Raw materials and components 6,762 4,290 Total inventories $ 42,406 $ 37,402
Summary of Prepaid Expenses and Other	Accrued expenses and other current liabilities consist of the following (in thousands): September 30, December 31, Royalties $ 1,970 $ 2,243 Payroll and related expenses 10,106 9,326 Warranty obligations 458 473 Professional fees 586 502 Accrued interest 2,410 877 Customer contract liabilities 8,554 3,832 Operating lease liabilities 1,662 1,769 Accrued contract manufacturing liabilities 1,599 927 Value added tax payables 424 642 Other 3,707 5,662 Total accrued expenses and other current liabilities $ 31,476 $ 26,253
Schedule of Other Current Assets	Prepaid expenses and other Prepaid expenses and other consists of the following (in thousands): September 30, December 31, Rebate receivables $ 4,015 $ 6,398 Receivables from contract manufacturers 3,239 2,626 Software licenses 1,062 1,261 Insurance 218 1,269 Deposits 870 1,023 Financed assets 295 323 Other 1,203 724 $ 10,902 $ 13,624

Fair Value Measurement of Ass_2

Fair Value Measurement of Assets and Liabilities (Tables)	9 Months Ended
Fair Value Measurement of Assets and Liabilities (Tables)	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis	The following table summarizes the Company’s financial instruments measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 December 31, 2021 Total Fair Value Level 3 Level 1 Total Fair Value Level 3 Level 1 Assets Cash equivalents Money market funds $ — $ — $ — $ 126 $ — $ 126 Total assets $ — $ — $ — $ 126 $ — $ 126 Liabilities 2025 Notes Interest make-whole payment $ 24 $ 24 $ — $ 926 $ 926 $ — Total liabilities $ 24 $ 24 $ — $ 926 $ 926 $ —
Schedule 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 using the following key assumptions: September 30, 2022 December 31, 2021 Volatility 50 % 50 % Stock price $2.07 per share $5.83 per share Credit spread 30.78 % 15.93 % Term 2.59 years 3.34 years Dividend yield — % — % Risk-free rate 4.24 % 1.02 %

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Net Carrying Amount of Debt	The 2025 Notes consist of the following (in thousands): September 30, December 31, Principal $ 161,898 $ 161,898 Add: fair value of embedded derivative 24 926 Less: unamortized debt discount (2,140) (2,761) Less: unamortized issuance costs (1,703) (2,197) Net carrying amount $ 158,079 $ 157,866
Schedule of Interest Expense	The following table sets forth total interest expense recognized related to the 2025 Notes (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Contractual interest expense $ 1,315 $ 1,315 $ 3,946 $ 3,899 Amortization of debt discount 207 207 621 622 Amortization of debt issuance costs 165 165 494 495 Total interest expense $ 1,687 $ 1,687 $ 5,061 $ 5,016

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
Share-based Compensation (Tables)	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation	Three Months Ended Nine Months Ended 2022 2021 2022 2021 Cost of revenues $ 199 $ 416 $ 1,873 $ 2,228 Research and development 513 604 5,011 4,366 Sales and marketing 489 614 3,086 3,161 General and administrative 1,205 1,428 5,922 4,712 Total $ 2,406 $ 3,062 $ 15,892 $ 14,467
Summary of Stock Option Activity	The following table summarizes the Company’s stock option activ ity for the nine months ended September 30, 2022 : Outstanding — December 31, 2021 8,085,793 Granted 1,422,500 Exercised (264,343) Canceled (831,400) Outstanding — September 30, 2022 8,412,550 Exercisable — September 30, 2022 5,391,541
Summary of Restricted Stock Unit Activity	The following table summarizes the Company’s RSU activity for the nine months ended September 30, 2022 : Non-vested — December 31, 2021 1,247,723 Granted 2,516,362 Vested (2,051,578) Forfeited (220,883) Non-vested — September 30, 2022 1,491,624

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule 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): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net loss attributable to common stockholders $ (16,434) $ (9,033) $ (55,371) $ (41,001) Weighted-average common shares outstanding 107,747,468 103,430,083 106,977,201 102,586,121 Basic and diluted net loss per share $ (0.15) $ (0.09) $ (0.52) $ (0.40)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following is a summary of outstanding anti-dilutive potential common stock that was excluded from diluted net loss per share attributable to stockholders: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 2025 Notes 14,341 14,341 14,341 14,341 Warrants — 2,500 — 2,500 Non-qualified stock options 8,557 8,169 8,787 8,169 Restricted stock units 1,438 487 1,441 487 Employee stock purchase plan 984 250 984 250 Total 25,320 25,747 25,553 25,747

Geographic Information and Co_2

Geographic Information and Concentrations of Risk (Tables)	9 Months Ended
Geographic Information and Concentrations of Risk (Tables)	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Geographic Concentration of Net Revenues	The following table details the Company’s net revenues by geographic region based on shipping destination (in thousands): Three Months Ended September 30, Nine Months Ended 2022 2021 2022 2021 United States and Canada $ 53,924 $ 56,614 $ 159,393 $ 150,822 Europe 6,954 5,828 20,176 17,425 South Africa (a) — 2,435 — 17,333 Australia (b) 7,543 982 9,966 2,883 Other 746 358 2,873 1,044 Total $ 69,167 $ 66,217 $ 192,408 $ 189,507 (a) In July 2021, the Company sold its Ctrack South Africa business.

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2022
Leases [Abstract]
Schedule of Components of Right-of-Use Assets and Lease Liabilities	The components of the right-of-use assets and lease liabilities were as follows (in thousands): Balance Sheet Classification September 30, December 31, Operating right-of-use assets, net Right-of-use assets, net $ 6,902 $ 7,839 Current operating lease liabilities Accrued expenses and other current liabilities $ 1,662 $ 1,769 Non-current operating lease liabilities Other long-term liabilities 6,056 7,112 Total operating lease liabilities $ 7,718 $ 8,881 Weighted-average remaining lease term (in years) 4.4 5.3 Weighted-average discount rate 9.0 % 9.1 %
Schedule of Lease Costs	The components of lease cost were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Operating lease costs included in operating costs and expenses $ 589 $ 200 $ 1,789 $ 1,000
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows (in thousands): Nine Months Ended September 30, 2022 2021 Operating cash flows related to operating leases $ 1,857 $ 1,858 Operating right-of-use assets obtained in exchange for lease liabilities $ 342 $ 544
Schedule of Future Minimum Payments Under Operating Leases	uture minimum payments under operating leases were as follows as of September 30, 2022 (in thousands): 2022 (remainder) $ 783 2023 2,146 2024 1,959 2025 1,684 2026 1,687 2027 1,125 Thereafter — Total minimum operating lease payments $ 9,384 Less: amounts representing interest (1,666) Present value of net minimum operating lease payments 7,718 Less: current portion (1,662) Long-term portion of operating lease obligations $ 6,056

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) $ in Thousands		9 Months Ended
Basis of Presentation - Narrative (Details) $ in Thousands	Jul. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)
Accounting Policies [Abstract]
Number of reportable segments \| segment		1
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of Ctrack South Africa, net of sold cash		$ 0	$ 31,526
Disposed of by sale \| Ctrack South Africa
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	$ 5,300
Proceeds from sale of Ctrack South Africa, net of sold cash	31,500
Net cash divested	$ 5,000

Basis of Presentation - Reconci

Basis of Presentation - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 18,063	$ 46,474
Restricted cash	0	3,338
Cash, cash equivalents and restricted cash, end of period	$ 18,063	$ 49,812	$ 61,609	$ 40,015

Basis of Presentation - Liquidi

Basis of Presentation - Liquidity (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 18,063	$ 46,474
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	$ 14,600

Financial Statement Details - I

Financial Statement Details - Inventories, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Finished goods	$ 35,644	$ 33,112
Raw materials and components	6,762	4,290
Total inventories	$ 42,406	$ 37,402

Financial Statement Details - P

Financial Statement Details - Prepaid Expenses and Other (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Rebate receivables	$ 4,015	$ 6,398
Receivables from contract manufacturers	3,239	2,626
Software licenses	1,062	1,261
Insurance	218	1,269
Deposits	870	1,023
Financed assets	295	323
Other	1,203	724
Total prepaid expenses and other	$ 10,902	$ 13,624

Financial Statement Details - A

Financial Statement Details - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Royalties	$ 1,970	$ 2,243
Payroll and related expenses	10,106	9,326
Warranty obligations	458	473
Professional fees	586	502
Accrued interest	2,410	877
Customer contract liabilities	8,554	3,832
Operating lease liabilities	1,662	1,769
Accrued contract manufacturing liabilities	1,599	927
Value added tax payables	424	642
Other	3,707	5,662
Total accrued expenses and other current liabilities	$ 31,476	$ 26,253

Fair Value Measurement of Ass_3

Fair Value Measurement of Assets and Liabilities - Financial Instruments Measured at Fair Value (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets
Total assets	$ 0	$ 126
Liabilities
Total liabilities	24	926
Interest make-whole provision
Liabilities
Interest make-whole payment	24	926
Money market funds
Assets
Money market funds	0	126
Level 1
Assets
Total assets	0	126
Liabilities
Total liabilities	0	0
Level 1 \| Interest make-whole provision
Liabilities
Interest make-whole payment	0	0
Level 1 \| Money market funds
Assets
Money market funds	0	126
Level 3
Assets
Total assets	0	0
Liabilities
Total liabilities	24	926
Level 3 \| Interest make-whole provision
Liabilities
Interest make-whole payment	24	926
Level 3 \| Money market funds
Assets
Money market funds	$ 0	$ 0

Fair Value Measurement of Ass_4

Fair Value Measurement of Assets and Liabilities - Binomial Lattice Model and Assumptions (Details) - Level 3 - Interest make-whole payment	9 Months Ended	12 Months Ended
	Sep. 30, 2022 $ / shares	Dec. 31, 2021 $ / shares
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.50	0.50
Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Stock price	$ 2.07	$ 5.83
Credit spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.3078	0.1593
Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Term	2 years 7 months 2 days	3 years 4 months 2 days
Dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0	0
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0424	0.0102

Fair Value Measurement of Ass_5

Fair Value Measurement of Assets and Liabilities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain on change in fair value of embedded derivative	$ 1,600	$ 900	$ 3,400
2025 Notes \| Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net carrying amount		$ 158,079		$ 157,866

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)		2 Months Ended	3 Months Ended		9 Months Ended
Debt - Narrative (Details) - USD ($)	Aug. 05, 2022	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	May 12, 2020
Debt Instrument [Line Items]
Proceeds from Lines of Credit					$ 9,000,000	$ 0
Repayments of Lines of Credit					4,500,000	0
Induced Conversion of Convertible Debt Expense			$ 0	$ 0	450,000	$ 432,000
Minimum
Debt Instrument [Line Items]
Debt Covenant, Liquidity Threshold	$ 10,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	50,000,000	$ 19,100,000	19,100,000		19,100,000
Line of Credit Minimum Draw	$ 4,500,000
Debt Instrument, Basis Spread on Variable Rate	3.50%
Debt Issuance Costs, Net	$ 1,100,000
Proceeds from Lines of Credit		9,000,000
Repayments of Lines of Credit		4,500,000
Long-Term Line of Credit		4,500,000	4,500,000		4,500,000
Revolving Credit Facility \| SOFR \| Less Than $15 Million
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Revolving Credit Facility \| SOFR \| Between Than $15 Million and $25 Million
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	4%
Revolving Credit Facility \| SOFR \| Greater Than $25 Million
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	5.50%
Revolving Credit Facility \| SOFR \| Minimum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1%
Revolving Credit Facility \| Base Rate \| Less Than $15 Million
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Revolving Credit Facility \| Base Rate \| Between Than $15 Million and $25 Million
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3%
Revolving Credit Facility \| Base Rate \| Greater Than $25 Million
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	4.50%
Revolving Credit Facility \| Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
2025 Notes
Debt Instrument [Line Items]
Conversion (shares)						428,669
Shares in satisfaction of make-whole payment (shares)						32,221
Induced Conversion of Convertible Debt Expense						$ 400,000
Debt conversion amount						$ 5,000,000
2025 Notes \| Public Offering
Debt Instrument [Line Items]
Debt aggregate face amount								$ 100,000,000
2025 Notes \| Private Offering
Debt Instrument [Line Items]
Debt aggregate face amount								$ 80,400,000
Convertible Debt \| 2025 Notes
Debt Instrument [Line Items]
Debt Issuance Costs, Net		$ 1,703,000	$ 1,703,000		$ 1,703,000		$ 2,197,000
Stated interest rate of debt issued		3.25%	3.25%		3.25%
Carrying amount of debt		$ 161,898,000	$ 161,898,000		$ 161,898,000		$ 161,898,000
Notes held by related parties		80,400,000	80,400,000		80,400,000
Accrued interest due to related parties		$ 400,000	$ 400,000		$ 400,000
Debt Instrument, Interest Rate During Period			4.13%	4.12%	4.18%	4.15%

Debt - Components (Details)

Debt - Components (Details) - 2025 Notes - Convertible Debt - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Principal amount	$ 161,898	$ 161,898
Interest make-whole payment	24	926
Unamortized debt discount	(2,140)	(2,761)
Unamortized issuance costs	(1,703)	(2,197)
Net carrying amount	$ 158,079	$ 157,866

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - 2025 Notes - Convertible Debt - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Contractual interest expense	$ 1,315	$ 1,315	$ 3,946	$ 3,899
Amortization of debt discount	207	207	621	622
Amortization of debt issuance costs	165	165	494	495
Total interest expense	$ 1,687	$ 1,687	$ 5,061	$ 5,016

Share-based Compensation - Expe

Share-based Compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 2,406	$ 3,062	$ 15,892	$ 14,467
Cost of net revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	199	416	1,873	2,228
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	513	604	5,011	4,366
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	489	614	3,086	3,161
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 1,205	$ 1,428	$ 5,922	$ 4,712

Share-based Compensation - Acti

Share-based Compensation - Activity (Details)	9 Months Ended
Share-based Compensation - Activity (Details)	Sep. 30, 2022 shares
Stock Options
Outstanding — beginning balance	8,085,793
Granted	1,422,500
Exercised	(264,343)
Canceled	(831,400)
Outstanding — ending balance	8,412,550
Exercisable — ending balance	5,391,541
RSUs
Restricted Stock Units
Non-vested — beginning balance	1,247,723
Granted	2,516,362
Vested	(2,051,578)
Forfeited	(220,883)
Non-vested — ending balance	1,491,624

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) shares
2018 Omnibus Incentive Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under the plan \| shares	8,897,084
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
General term (in years)	10 years
Unrecognized expense	$ 8.9
Recognition period	2 years 9 months 3 days
Stock options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Stock options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized expense	$ 5
Recognition period	2 years 8 months 15 days
RSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
RSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net loss attributable to common stockholders	$ (16,434)	$ (9,033)	$ (55,371)	$ (41,001)
Weighted-average common shares outstanding, basic (in shares)	107,747,468	103,430,083	106,977,201	102,586,121,000
Weighted-average common shares outstanding, diluted (in shares)	107,747,468	103,430,083	106,977,201	102,586,121,000
Basic net income (loss) per share (in dollars per share)	$ (0.15)	$ (0.09)	$ (0.52)	$ (0.40)
Diluted net income (loss) per share (in dollars per share)	$ (0.15)	$ (0.09)	$ (0.52)	$ (0.40)

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Anti-dilutive shares (in shares)	25,320	25,747	25,553	25,747

Earnings per Share - Antidiluti

Earnings per Share - Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	25,320	25,747	25,553	25,747
2025 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	14,341	14,341	14,341	14,341
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	0	2,500	0	2,500
Non-qualified stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	8,557	8,169	8,787	8,169
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	1,438	487	1,441	487
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	984	250	984	250

Private Placements and Public_2

Private Placements and Public Offering (Details) - USD ($)	1 Months Ended
Private Placements and Public Offering (Details) - USD ($)	Jan. 31, 2021	Jan. 25, 2021	Mar. 28, 2019
2019 Warrants
Class of Stock [Line Items]
Number of additional shares from warrants (in shares)			2,500,000
Initial exercise price of warrants (in dollars per share)			$ 7
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)	1,516,073
Purchase price (in dollars per share)	$ 20.11
Proceeds from sale of stock	$ 29,400,000

Geographic Information and Co_3

Geographic Information and Concentrations of Risk - Net Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 69,167	$ 66,217	$ 192,408	$ 189,507
United States and Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	53,924	56,614	159,393	150,822
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	6,954	5,828	20,176	17,425
South Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	0	2,435	0	17,333
Australia (b)
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	7,543	982	9,966	2,883
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 746	$ 358	$ 2,873	$ 1,044

Geographic Information and Co_4

Geographic Information and Concentrations of Risk - Narrative (Details)	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Net Revenues \| Customer concentration risk \| Customer one
Segment Reporting Information [Line Items]
Concentration percentage	33.90%	40.40%		50.80%	44.30%
Net Revenues \| Customer concentration risk \| Customer two
Segment Reporting Information [Line Items]
Concentration percentage	29.30%	32.50%		44.40%	23.50%
Accounts Receivable \| Credit concentration risk \| Customer one
Segment Reporting Information [Line Items]
Concentration percentage			61.70%	33.50%
Accounts Receivable \| Credit concentration risk \| Customer two
Segment Reporting Information [Line Items]
Concentration percentage			12.60%	15.30%
Accounts Receivable \| Credit concentration risk \| Customer Three
Segment Reporting Information [Line Items]
Concentration percentage				13.30%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Noncancellable purchase obligations	$ 104.7	$ 165.8

Leases - Components (Details)

Leases - Components (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Right-of-use assets, net	$ 6,902	$ 7,839
Current operating lease liabilities	1,662	1,769
Non-current operating lease liabilities	6,056	7,112
Total operating lease liabilities	$ 7,718	$ 8,881
Weighted-average remaining lease term (in years)	4 years 4 months 24 days	5 years 3 months 18 days
Weighted-average discount rate	9%	9.10%

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases - Lease Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Operating lease costs	$ 589	$ 200	$ 1,789	$ 1,000

Leases - Supplemental Informati

Leases - Supplemental Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Operating cash flows related to operating leases	$ 1,857	$ 1,858
Right-of-use assets obtained in exchange for operating leases liabilities	$ 342	$ 544

Leases - Maturity of Operating

Leases - Maturity of Operating Lease Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
2022 (remainder)	$ 783
2023	2,146
2024	1,959
2025	1,684
2026	1,687
2027	1,125
Thereafter	0
Total minimum operating lease payments	9,384
Less: amounts representing interest	(1,666)
Present value of net minimum operating lease payments	7,718	$ 8,881
Less: current portion	(1,662)	(1,769)
Long-term portion of operating lease obligations	$ 6,056	$ 7,112

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ 42	$ (4)	$ (582)	$ 445