Sequans Communications SA
NYSE:SQNS
Sequans Communications SA
Sequans Communications SA is a developer and provider of 5G and 4G chips and modules for massive, broadband, and critical IoT. The company is headquartered in Colombes, Ile-De-France and currently employs 262 full-time employees. The company went IPO on 2011-04-15. The firm provides a product portfolio for 5G/4G massive IoT applications based on Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring low power consumption, a set of integrated functionalities, and global deployment capability. The firm offers a product portfolio for 5G/4G broadband and critical IoT applications based on its Cassiopeia Cat 4/Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications. The firm is based in Paris, France and operates as well in the United States, United Kingdom, and Asia in countries such as Israel, Hong Kong, Singapore, Taiwan, South Korea, and China.
Sequans Communications SA is a developer and provider of 5G and 4G chips and modules for massive, broadband, and critical IoT. The company is headquartered in Colombes, Ile-De-France and currently employs 262 full-time employees. The company went IPO on 2011-04-15. The firm provides a product portfolio for 5G/4G massive IoT applications based on Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring low power consumption, a set of integrated functionalities, and global deployment capability. The firm offers a product portfolio for 5G/4G broadband and critical IoT applications based on its Cassiopeia Cat 4/Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications. The firm is based in Paris, France and operates as well in the United States, United Kingdom, and Asia in countries such as Israel, Hong Kong, Singapore, Taiwan, South Korea, and China.
Revenue Growth: Q4 revenue reached $7 million, up 72.6% sequentially, and full-year 2025 revenue was $27.2 million, in line with expectations.
2026 Outlook: 2026 revenue is targeted at $40–45 million, supported by a strong order backlog and increasing design wins in production.
Capital Allocation: The company repurchased about 9.7% of its ADS in Q4 and authorized further buybacks up to 10% of outstanding ADS.
Cost Discipline: Operating expenses dropped to $11.5 million in Q4 from $13.6 million in Q3, with further reductions planned to support breakeven goals.
Breakeven Target: Management aims for cash flow breakeven by Q4 2026, requiring a quarterly revenue run rate in the mid-teen millions.
Bitcoin Treasury: At year-end, Sequans held 2,139 bitcoin valued at $187.1 million; a significant impairment charge and realized loss were recorded due to bitcoin sales for debt redemption and share buybacks.
Supply Chain & Pricing: Memory and substrate cost pressures are being managed with supplier diversification and price increases are being passed to customers where possible.
5G & Product Momentum: Strong progress in 4G Cat M, Cat 1bis, RF transceiver, and early 5G eRedCap; first 5G chips expected this quarter, with revenue anticipated from 2028.
