Michael Sklansky - Head, Investor Relations Sue Swenson - Chair, Chief Executive Officer Michael Newman - Executive Vice President and Chief Financial Officer

Good day everyone and welcome to the Inseego Fourth Quarter 2016 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note the event is being recorded. I would now like to turn the conference over to Mr. Michael Sklansky, Head of Investor Relations for Inseego. Please go ahead.

Thanks William. During this call, non-GAAP financial measures will be discussed. A reconciliation to the most directly comparable GAAP financial measures is including in the earnings release, which is available on the Investors section of the company’s website. An audio replay of this call will also be archived there. Please also be advised that today’s discussion will contain forward-looking statements. These forward-looking statements are not historical facts, but rather are based on the company’s current expectations and beliefs. For a discussion on factors that could cause actual results to differ materially from expectations, please refer to the Risk Factors described in our Form 10-K, 10-Q and other SEC filings, which are available on our website. Now, I would like to turn the call over to Sue Swenson, Chief Executive Officer of Inseego.

Thank you, Michael and good afternoon everyone and thank you for joining today’s call where we’ll share our Q4 results and provide an update on our key initiatives. We’re very pleased with the continued strong performance of our Ctrack business and Inseego North America IoT business formerly known as FW. Ctrack subscriber and revenue growth once again displayed strong trends and we made further strides in transitioning Inseego’s North America’s business model to recurring revenues and SaaS solutions. So before I provide more details about the business performance I would first like to provide an update on the proposed sale of the MiFi Mobile Broadband business to TCL. Inseego received stockholder and bondholder approval for the deal early this year. However, before the parties can conclude the transaction approval is also needed from US Government’s committee on foreign investment in the United States better known as CFIUS. Which is a nine member committee made up of nine different federal agencies in the US Government and shared by the US Department of the Treasury. In early February, CFIUS provided the parties with a summary of potential terms that might be included in a mitigation agreement. After the initial review period insighting [ph] the need for additional time to review our case, Inseego and TCL agreed to and received approval to withdraw and refile on February 3. Yesterday CFIUS advised the parties that the 30-day review period have concluded and it is undertaking a continued review of the proposed transaction. This provides CFIUS an additional 45 days to review the proposed transaction. Very important to note, that CFIUS is not obligated to take the entire period and may conclude its review anytime within the additional 45-day period. We genuinely believe that this transaction is good for America, it will not only retain…

Thanks Sue and thanks to everyone for joining us on this call. I’m extremely proud of our employees for their significant accomplishments in the fourth quarter. During what’s been a very busy time at Inseego. While working diligently on the MiFi divesture transaction and our transformation into Inseego from Novotel Wireless our team’s continue to lay the groundwork for our future as a pure play IoT company driving strong results in our core SaaS software and services businesses. Our SaaS software and services revenues increased by 18.3% in the fourth quarter of 2016 compared to 2015. These are most profitable revenues and represented a record 28.2% of our total revenue mix in the fourth quarter 2016. That’s our fifth consecutive record quarter for our SaaS software and services revenues all five quarters since our acquisitions of Ctrack. The Ctrack business continues to drive our overall progress into the world of comprehensive IoT solutions, with our Inseego North America IoT business formerly known as our FW business also making great strides forward. In just one year, we’ve grown our subscriber base for our IoT solutions to 620,000 total subscribers at the end of 2016 from approximately 520,000 subscribers at year end 2015. Breaking down that subscriber base into our historic three categories. In the fourth quarter, our Ctrack fleet subscriber base grew year-over-year by 18.4% ending the quarter with 187,000 Ctrack fleet subscribers. Our other Ctrack Telematics subscriber base grew year-over-year by 22.5% to 245,000 subscribers. And our Inseego North American IoT subscriber base grew year-over-year by 16% to 188,000 subscribers. I’ve often said, that for recurring revenue company subscriber growth is a leading indicator of revenue growth. And with our continuous growth in subscribers for our SaaS software and service solutions, we continue to drive toward a new financial profile,…

Ladies and gentlemen, the conference is now concluded. Thank you all for attending today’s presentation and you may now disconnect.